# EDGAR Filing Document

**Accession Number:** 0001885778
**File Stem:** 0001193125-25-337192
**Filing Date:** 2025-12
**Character Count:** 371356
**Document Hash:** 49a3cbb50e663dac69a51f16827e40f5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-337192.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0001193125-25-337192

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 19

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251230

**DATE AS OF CHANGE**: 20251230

**EFFECTIVENESS DATE**: 20251230

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** John Hancock Marathon Asset-Based Lending Fund
- **CENTRAL INDEX KEY:** 0001885778

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23748
- **FILM NUMBER:** 251614840

**BUSINESS ADDRESS:**
- **STREET 1:** 200 BERKELEY STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116
- **BUSINESS PHONE:** 617-663-2261

**MAIL ADDRESS:**
- **STREET 1:** 200 BERKELEY STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** John Hancock Asset-Based Lending Fund
- **DATE OF NAME CHANGE:** 20210930

![](gyjf97fraq2udnblit0dd.jpg)

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-CSR**

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

**Investment Company Act file number 811-23748**

**JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND**

(Exact name of registrant as specified in charter)

<u>200 BERKELEY STREET, BOSTON, MA 02116</u> (Address of principal executive offices) (Zip code)

SALVATORE SCHIAVONE

TREASURER

200 BERKELEY STREET

<u>BOSTON, MA 02116</u>

(Name and address of agent for service)

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

**Date of fiscal year end: October 31**

**Date of reporting period: October 31, 2025**

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ITEM 1. REPORT TO STOCKHOLDERS.

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![](img8bfd86b51.gif)

![](img1ac23d202.gif)

Annual report

## John Hancock

## Marathon Asset-Based Lending Fund (formerly John Hancock Asset-Based Lending Fund)
Closed-end alternative

October 31, 2025

------

John Hancock

Marathon Asset-Based Lending Fund

Table of contents

---

| | |
|:---|:---|
| &nbsp;&nbsp;**2** | &nbsp;&nbsp;[Your fund at a glance](#xx_45242f25-7292-400e-aae6-2606757d57a5_1) |
| &nbsp;&nbsp;**4** | &nbsp;&nbsp;[Management's discussion of fund performance](#xx_638aeb8b-52bf-4068-8f5a-d16a1fc3bc90_1) |
| &nbsp;&nbsp;**5** | &nbsp;&nbsp;[A look at performance](#xx_03133d06-4753-4888-b12a-016a09479aba_1) |
| &nbsp;&nbsp;**7** | &nbsp;&nbsp;[Consolidated Fund's investments](#xx_dfbeab9c-2930-4b4c-b2c9-baa3f8e64848_1) |
| **42** | &nbsp;&nbsp;[Consolidated financial statements](#xx_5fbd24fd-9057-424c-91cd-c2a010040f9e_1) |
| **47** | &nbsp;&nbsp;[Consolidated financial highlights](#xx_f52d77bc-498a-437e-97fd-cb0883da1423_1) |
| **50** | &nbsp;&nbsp;[Notes to consolidated financial statements](#xx_19926bfd-3efb-4d21-bc40-c3764e6f1f79_1) |
| **68** | &nbsp;&nbsp;[Report of independent registered public accounting firm](#xx_0cbd68f6-9d98-48cf-a3f8-b32067573216_1) |
| **69** | &nbsp;&nbsp;[Tax information](#xx_22ff921c-426f-49ae-9e69-92f273419a38_1) |
| **70** | &nbsp;&nbsp;[Additional information](#xx_f1b61d36-8854-47f3-b2b5-db2037508f0c_1) |
| **72** | &nbsp;&nbsp;[Trustees and Officers](#xx_2f5cd638-bf03-4e3f-8b9b-2867e71d1972_1) |
| **75** | &nbsp;&nbsp;[More information](#xx_1c18d542-3ac0-48be-b43c-3553fe4a3e3e_1) |

---

1 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| ANNUAL REPORT

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

Your fund at a glance

#### INVESTMENT OBJECTIVE

------

The fund seeks to provide high current income and to a lesser extent capital appreciation.

#### AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2025 (%)

------

![](imgfed6e9163.gif)

The Intercontinental Exchange (ICE) Bank of America (BofA) 0-3 Month U.S. Treasury Bill Index tracks the performance of Treasury bills maturing in zero to three months.

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

**The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-6020. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus.**

\| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 2

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

#### PERFORMANCE HIGHLIGHTS OVER THE LAST TWELVE MONTHS

------

#### Stable results across asset-based investments
The fund has exhibited stable performance, focused on asset-based investments with attractive return versus risk characteristics, robust cashflows and asset coverage ratios.

#### Credit selection and sector allocation were catalysts
Both credit selection and sector allocation were drivers of performance, with accretive returns across our private asset-based lending strategies.

#### Residential and Commercial Loans contributed
Residential and commercial real estate loans were top performers.

#### PORTFOLIO COMPOSITION AS OF 10/31/2025 (% of total investments)

------

![](imgd3aa35354.gif)

#### Notes about risk
The fund is subject to various risks as described in the fund's prospectus.

3 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \|

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[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

Management's discussion of fund performance

#### How would you describe the investment backdrop during the 12 months ended October 31, 2025?
The market for private asset-based lending (ABL) remains robust, driven by strong demand for loans and leases secured by valuable assets such as mission critical equipment, aircraft and single family homes. Meanwhile, concentration in commercial real estate (CRE) loans continues to weigh on capital ratios, limiting regional banks' competitiveness in lending and echoing the post-global financial crisis shift that spurred growth in the direct lending market. Additionally, the rise of unsecured consumer lending products, such as personal loans and buy now, pay later offerings, has heightened exposure to consumer credit risk within the ABL sector.&nbsp;&nbsp;&nbsp;&nbsp;

#### How did the fund perform in this environment?
The portfolio is primarily focused on lending and leasing against hard physical assets as collateral, rather than unsecured consumer loans that are more vulnerable to economic shocks and prone to higher loss rates in default scenarios. Home equity lines of credit (HELOCs) with strong loan-to-value (LTV) ratios provided an added collateral cushion, mitigating potential losses even in periods of economic slowdown. Investments in residential real estate loans was a top driver of fund performance during the period. Recent portfolio activity demonstrates strong performance across aviation investments, expansion in equipment leasing, and new funding initiatives in rail car transactions, all supported by mission-critical, high-value assets. In bank capital relief investments, the portfolio continues to focus on sourcing top-tier credits globally, including asset-backed exposures such as super-prime auto loans, with yield targets adjusted based on tranche thickness and asset credit quality. Consumer loan investments also strongly contributed to the fund's positive performance. Additionally, with a diversified mix of floating- and fixed-rate loans and hard asset leases that can appreciate as interest rates decline, the portfolio was designed to be less sensitive to interest rate fluctuations than other private credit strategies.

The views expressed in this report are exclusively those of the portfolio management team at Marathon Asset Management LP and are subject to change. They are not meant as investment advice. Please note that the holdings discussed in this report may not have been held by the fund for the entire period. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk.

\| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 4

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

A look at performance

#### TOTAL RETURNS FOR THE PERIOD ENDED OCTOBER 31, 2025

------

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Average annual total returns (%)<br> with maximum sales charge** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Average annual total returns (%)<br> with maximum sales charge** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Average annual total returns (%)<br> with maximum sales charge** | **Cumulative total returns (%)<br> with maximum sales charge** |
|  | **1-year** | &nbsp;&nbsp;**Since<br> inception<br> (7-11-22)** | &nbsp;&nbsp;**Since<br> inception<br> (7-11-22)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class I<sup>1</sup> | 7.87 | &nbsp;&nbsp;&nbsp;6.62 | &nbsp;&nbsp;&nbsp;23.63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class D<sup>1</sup> | 6.19 | &nbsp;&nbsp;&nbsp;5.94 | &nbsp;&nbsp;&nbsp;21.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class S<sup>1</sup> | 3.29 | &nbsp;&nbsp;&nbsp;4.79 | &nbsp;&nbsp;&nbsp;16.73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Index<sup>†</sup> | 4.42 | &nbsp;&nbsp;&nbsp;4.65 | &nbsp;&nbsp;&nbsp;16.22 |

---

*Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class D shares of 1.5% and on Class S shares of 3.5%. Sales charges are not applicable to Class I shares.*

*Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.*

*The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-6020 or visit the fund's website at jhinvestments.com.*

*The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.*

 <sup>†</sup> *Index is the ICE BofA 0-3 Month U.S. Treasury Bill Index.*

*See the following page for footnotes.*

5 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \|

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Marathon Asset-Based Lending Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the ICE BofA 0-3 Month U.S. Treasury Bill Index.

![](imgb5684b2c5.gif)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Start date** | &nbsp;&nbsp;&nbsp;**With maximum<br> sales charge ($)** | &nbsp;&nbsp;&nbsp;**Without<br> sales charge ($)** | &nbsp;&nbsp;&nbsp;**Index ($)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class D<sup>1</sup> | 7-11-22 | &nbsp;&nbsp;12103 | &nbsp;&nbsp;12285 | &nbsp;&nbsp;11622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class S<sup>1</sup> | 7-11-22 | &nbsp;&nbsp;11673 | &nbsp;&nbsp;12099 | &nbsp;&nbsp;11622 |

---

The Intercontinental Exchange (ICE) Bank of America (BofA) 0-3 Month U.S. Treasury Bill Index tracks the performance of Treasury bills maturing in zero to three months.

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

#### Footnotes related to performance pages
&nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup> *For certain types of investors, as described in the fund's prospectus. Effective August 1, 2025, Class S shares and Class D shares stopped accepting orders from new investors to purchase shares. Existing investors may make subsequent purchases to their existing accounts.* 

\| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 6

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[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

Consolidated Fund's investments

#### AS OF 10-31-25

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **Asset-backed securities 44.0%** |  |  |  | &nbsp;&nbsp;**$110316460** |
| (Cost $110,195,063) |  |  |  |  |
| **Asset-backed securities 6.7%** | **Asset-backed securities 6.7%** | **Asset-backed securities 6.7%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16918190** |
| Carnow Auto Receivables Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class D (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02-15-28 | &nbsp;&nbsp;&nbsp;&nbsp;2432392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2432345 |
| Hertz Vehicle Financing III LLC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class D (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;09-25-29 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2007859 |
| Marlette Funding Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3A, Class D (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11-15-32 | &nbsp;&nbsp;&nbsp;&nbsp;3750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3798891 |
| Pagaya AI Debt Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-7, Class D (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;07-15-31 | &nbsp;&nbsp;&nbsp;&nbsp;3498696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3536742 |
| Prosper Marketplace Issuance Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class D (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-15-29 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3094238 |
| Thor LLC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-15-41 | &nbsp;&nbsp;&nbsp;&nbsp;2042777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2048115 |
| **Collateralized loan obligations 5.8%** | **Collateralized loan obligations 5.8%** | **Collateralized loan obligations 5.8%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14500445** |
| Allegany Park CLO, Ltd. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1A, Class DRR (3 month CME Term SOFR + 2.850%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;01-20-35 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992665 |
| Birch Grove CLO, Ltd. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 19A, Class D2RR (3 month CME Term SOFR + 5.050%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;07-17-37 | &nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1765810 |
| Columbia Cent CLO, Ltd. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-29A, Class D1RR (3 month CME Term SOFR + 3.400%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10-20-34 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992340 |
| Dryden Senior Loan Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-49A, Class DR (3 month CME Term SOFR + 3.662%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;07-18-30 | &nbsp;&nbsp;&nbsp;&nbsp;3730000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3732447 |
| KKR Financial CLO, Ltd. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2013-1A, Class DR2 (3 month CME Term SOFR + 6.250%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;04-15-29 | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2508603 |
| Rockford Tower CLO, Ltd. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-2A, Class DR (3 month CME Term SOFR + 3.112%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10-15-29 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003972 |
| Trimaran Cavu, Ltd. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3A, Class D (3 month CME Term SOFR + 4.042%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;01-18-35 | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2504608 |
| **Commercial mortgage backed securities 29.4%** | **Commercial mortgage backed securities 29.4%** | **Commercial mortgage backed securities 29.4%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**73699950** |
| ACREC LLC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-FL2, Class C (1 month CME Term SOFR + 4.281%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02-19-38 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013517 |

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7 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **Commercial mortgage backed securities (continued)** | **Commercial mortgage backed securities (continued)** | **Commercial mortgage backed securities (continued)** |  |  |
| AG Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NLP, Class B (1 month CME Term SOFR + 2.764%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;07-15-41 | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1604020 |
| Arizona Biltmore Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-BILT, Class E (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;06-11-39 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049793 |
| BAMLL Commercial Mortgage Securities Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-ASHF, Class C (1 month CME Term SOFR + 3.000%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02-15-42 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000003 |
| BX Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-IMC, Class D (1 month CME Term SOFR + 1.946%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;04-15-34 | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3920000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-21M, Class C (1 month CME Term SOFR + 1.291%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10-15-36 | &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2793875 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-21M, Class H (1 month CME Term SOFR + 4.124%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10-15-36 | &nbsp;&nbsp;&nbsp;&nbsp;4200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4160814 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-ARIA, Class F (1 month CME Term SOFR + 2.708%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10-15-36 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996875 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-DELC, Class E (1 month CME Term SOFR + 5.286%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;05-15-38 | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2526214 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-PALM, Class D (1 month CME Term SOFR + 2.640%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;06-15-37 | &nbsp;&nbsp;&nbsp;&nbsp;3556731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3561086 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SLCT, Class E (1 month CME Term SOFR + 3.391%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;01-15-42 | &nbsp;&nbsp;&nbsp;&nbsp;1969000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1961017 |
| CLNY Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-IKPR, Class C (1 month CME Term SOFR + 2.040%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11-15-38 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1447500 |
| Commercial Mortgage Trust (Deutsche Bank AG) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CBM, Class E (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12-10-41 | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3979876 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-WCL1, Class C (1 month CME Term SOFR + 2.889%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;06-15-41 | &nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3304122 |
| DBWF Mortgage Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-LCRS, Class C (1 month CME Term SOFR + 2.640%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;04-15-37 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1497656 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-LCRS, Class D (1 month CME Term SOFR + 3.189%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;04-15-37 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2998125 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 8

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **Commercial mortgage backed securities (continued)** | **Commercial mortgage backed securities (continued)** | **Commercial mortgage backed securities (continued)** |  |  |
| DK Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-LXP, Class E (1 month CME Term SOFR + 4.688%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-15-37 | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4011250 |
| FS Rialto Issuer, Ltd. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL3, Class D (1 month CME Term SOFR + 2.614%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11-16-36 | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2494130 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FL10, Class AS (1 month CME Term SOFR + 1.593%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-19-42 | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2494444 |
| GPMT, Ltd. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL4, Class D (1 month CME Term SOFR + 2.964%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12-15-36 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1852109 |
| Great Wolf Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-WOLF, Class E (1 month CME Term SOFR + 3.639%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;03-15-39 | &nbsp;&nbsp;&nbsp;&nbsp;2180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2197713 |
| GSMS Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-FAIR, Class E (A)(B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;07-15-29 | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4034024 |
| J.P. Morgan Chase Commercial Mortgage Securities Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-BHR5, Class C (1 month CME Term SOFR + 2.542%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;03-15-40 | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600500 |
| KIND Commercial Mortgage Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class D (1 month CME Term SOFR + 3.438%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-15-41 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2999998 |
| KKR Real Estate Finance Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL2, Class AS (1 month CME Term SOFR + 1.414%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02-15-39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934877 |
| KNDR Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-KIND, Class B (1 month CME Term SOFR + 1.464%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-15-38 | &nbsp;&nbsp;&nbsp;&nbsp;1983710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1966352 |
| KSL Commercial Mortgage Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HT2, Class B (1 month CME Term SOFR + 2.042%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12-15-39 | &nbsp;&nbsp;&nbsp;&nbsp;2427268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2424234 |
| La Quinta Mortgage Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-LAQ, Class D (1 month CME Term SOFR + 4.188%) (A)(B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;03-15-36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850198 |
| THPT Mortgage Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-THL, Class D (A)(B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12-10-34 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3025628 |
| **Residential mortgage backed securities 2.1%** | **Residential mortgage backed securities 2.1%** | **Residential mortgage backed securities 2.1%** |  | &nbsp;&nbsp;&nbsp;**5197875** |
| ACHM Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-HE2, Class C (A)(B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10-25-38 | &nbsp;&nbsp;&nbsp;&nbsp;3057007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3174771 |

---

9 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **Residential mortgage backed securities (continued)** | **Residential mortgage backed securities (continued)** | **Residential mortgage backed securities (continued)** |  |  |
| JP Morgan Mortgage Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES1, Class M1 (A)(B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;05-25-55 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2023104 |

---

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**Value** |
| **Special purpose vehicles 17.5%** | &nbsp;&nbsp;**$43814090** |
| (Cost $42,093,591) |  |
| **Industrials 13.8%** | &nbsp;&nbsp;&nbsp;&nbsp;**34711428** |
| JH Arbor Leasing LLC (E)(F)(G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8476611 |
| JH Finance LeaseCo LLC (E)(F)(G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5825795 |
| JH Liftco LLC (E)(F)(G) | &nbsp;&nbsp;&nbsp;&nbsp;11871681 |
| JH Rail LLC (E)(F)(G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8537341 |
| **Real estate 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**146099** |
| JH REO Trust (E)(F)(G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146099 |
| **Transportation assets 3.6%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8956563** |
| MSN 803 Trust (E)(F)(G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8956563 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **Residential loans 14.4%** |  |  |  | &nbsp;&nbsp;**$36158105** |
| (Cost $36,478,039) |  |  |  |  |
| **Home equity and residential mortgage backed securities 4.7%** | **Home equity and residential mortgage backed securities 4.7%** | **Home equity and residential mortgage backed securities 4.7%** | **Home equity and residential mortgage backed securities 4.7%** | &nbsp;&nbsp;&nbsp;&nbsp;11780005 |
| ACHM Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-HE2, Class D PO (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10-25-38 | &nbsp;&nbsp;&nbsp;&nbsp;567739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348703 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-HE2, Class XS IO (A)(G)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10-25-38 | &nbsp;&nbsp;&nbsp;&nbsp;4715204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209827 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HE1, Class D PO (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;05-25-39 | &nbsp;&nbsp;&nbsp;&nbsp;581262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103224 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HE1, Class XS IO (A)(G)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;05-25-39 | &nbsp;&nbsp;&nbsp;&nbsp;8092147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776846 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HE2, Class D PO (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10-25-39 | &nbsp;&nbsp;&nbsp;&nbsp;550513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38114 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HE2, Class XS IO (A)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10-25-39 | &nbsp;&nbsp;&nbsp;&nbsp;7864627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1042373 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-HE1, Class D PO (A)(G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;03-25-55 | &nbsp;&nbsp;&nbsp;&nbsp;1365656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470742 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-HE1, Class XS IO (A)(G)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;03-25-55 | &nbsp;&nbsp;&nbsp;&nbsp;19509378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1896312 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-HE2, Class F (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-25-55 | &nbsp;&nbsp;&nbsp;&nbsp;232842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234087 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-HE2, Class G PO (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-25-55 | &nbsp;&nbsp;&nbsp;&nbsp;114211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7170 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-HE2, Class XS IO (A)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-25-55 | &nbsp;&nbsp;&nbsp;&nbsp;7169167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600102 |
| FIGRE Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HE5, Class CE PO (A)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10-25-54 | &nbsp;&nbsp;&nbsp;&nbsp;394528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483825 |
| LHOME Mortgage Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RTL3, Class M1 (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-25-40 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2009575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RTL3, Class M2 (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-25-40 | &nbsp;&nbsp;&nbsp;&nbsp;2550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2559105 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 10

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (G)(I) 9.7%** | **JH Residential Whole Loan Trust (G)(I) 9.7%** | **JH Residential Whole Loan Trust (G)(I) 9.7%** | **JH Residential Whole Loan Trust (G)(I) 9.7%** | &nbsp;&nbsp;$24273860 |
| Bank of America, Loan ID - R1D2189860 | &nbsp;&nbsp;&nbsp;&nbsp;4.125 | &nbsp;&nbsp;08-01-35 | 111847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90708 |
| Bank of America, Loan ID - R1D2223768 | &nbsp;&nbsp;&nbsp;&nbsp;3.500 | &nbsp;&nbsp;04-01-57 | 71603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58070 |
| Bank of America, Loan ID - R1D2231928 | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | &nbsp;&nbsp;06-01-47 | 190895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154816 |
| Bank of America, Loan ID - R1D320115934 | &nbsp;&nbsp;12.000 | &nbsp;&nbsp;09-25-27 | 1805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1367 |
| Bank of America, Loan ID - R1D320404870 | &nbsp;&nbsp;&nbsp;&nbsp;9.875 | &nbsp;&nbsp;07-01-38 | 3571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2703 |
| Bank of America, Loan ID - R1D321106165 (J) | &nbsp;&nbsp;10.500 | &nbsp;&nbsp;03-01-37 | 3168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2399 |
| Bank of America, Loan ID - R1D321285469 (K) | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;06-01-24 | 9160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6934 |
| Bank of America, Loan ID - R1D321458571 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.625 | &nbsp;&nbsp;05-01-26 | 11396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8627 |
| Bank of America, Loan ID - R1D321567782 | &nbsp;&nbsp;10.125 | &nbsp;&nbsp;07-01-35 | 3845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2911 |
| Bank of America, Loan ID - R1D321672554 (L) | &nbsp;&nbsp;&nbsp;&nbsp;4.250 | &nbsp;&nbsp;02-01-24 | 68643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51962 |
| Bank of America, Loan ID - R1D321680064 (J) | &nbsp;&nbsp;&nbsp;&nbsp;8.625 | &nbsp;&nbsp;01-01-28 | 4038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3057 |
| Bank of America, Loan ID - R1D321772642 (K) | &nbsp;&nbsp;12.875 | &nbsp;&nbsp;07-01-24 | 4414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3342 |
| Bank of America, Loan ID - R1D321802346 (J) | &nbsp;&nbsp;10.500 | &nbsp;&nbsp;07-01-42 | 2855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2161 |
| Bank of America, Loan ID - R1D323613087 (J) | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;10-01-31 | 7492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5671 |
| Bank of America, Loan ID - R1D326967519 | &nbsp;&nbsp;&nbsp;&nbsp;8.750 | &nbsp;&nbsp;02-01-30 | 12506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9467 |
| Bank of America, Loan ID - R1D331184438 | &nbsp;&nbsp;&nbsp;&nbsp;4.750 | &nbsp;&nbsp;06-01-28 | 10477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7931 |
| Bank of America, Loan ID - R1D331351411 (J) | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;11-01-37 | 14277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10808 |
| Bank of America, Loan ID - R1D332396107 | &nbsp;&nbsp;&nbsp;&nbsp;1.000 | &nbsp;&nbsp;06-01-28 | 20593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15589 |
| Bank of America, Loan ID - R1D333118907 | &nbsp;&nbsp;&nbsp;&nbsp;8.625 | &nbsp;&nbsp;11-01-28 | 6227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4714 |
| Bank of America, Loan ID - R1D334715743 (L) | &nbsp;&nbsp;&nbsp;&nbsp;6.500 | &nbsp;&nbsp;12-01-36 | 20812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15754 |
| Bank of America, Loan ID - R1D338003284 | &nbsp;&nbsp;11.125 | &nbsp;&nbsp;09-01-41 | 14021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10614 |
| Bank of America, Loan ID - R1D341220853 | &nbsp;&nbsp;11.750 | &nbsp;&nbsp;10-25-28 | 9116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6901 |
| Bank of America, Loan ID - R1D341275604 (K) | &nbsp;&nbsp;11.750 | &nbsp;&nbsp;09-01-24 | 1548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172 |
| Bank of America, Loan ID - R1D345587535 (L) | &nbsp;&nbsp;&nbsp;&nbsp;9.875 | &nbsp;&nbsp;11-01-36 | 27471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20795 |
| Bank of America, Loan ID - R1D345744745 | &nbsp;&nbsp;10.125 | &nbsp;&nbsp;08-01-33 | 3969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3005 |

---

11 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| Bank of America, Loan ID - R1D347751887 (J) | &nbsp;&nbsp;&nbsp;&nbsp;8.250 | &nbsp;&nbsp;11-25-28 | 15356 | &nbsp;&nbsp;$11624 |
| Bank of America, Loan ID - R1D348255384 | &nbsp;&nbsp;12.625 | &nbsp;&nbsp;06-01-35 | 4006 | &nbsp;&nbsp;&nbsp;&nbsp;3032 |
| Bank of America, Loan ID - R1D362185211 (L) | &nbsp;&nbsp;&nbsp;&nbsp;8.250 | &nbsp;&nbsp;05-25-29 | 51849 | &nbsp;&nbsp;&nbsp;&nbsp;39249 |
| Bank of America, Loan ID - R1D362733412 (J) | &nbsp;&nbsp;10.500 | &nbsp;&nbsp;08-01-27 | 5061 | &nbsp;&nbsp;&nbsp;&nbsp;3831 |
| Bank of America, Loan ID - R1D363420996 | &nbsp;&nbsp;11.000 | &nbsp;&nbsp;05-25-29 | 8689 | &nbsp;&nbsp;&nbsp;&nbsp;6577 |
| Bank of America, Loan ID - R1D363873763 | &nbsp;&nbsp;&nbsp;&nbsp;2.000 | &nbsp;&nbsp;08-01-29 | 36351 | &nbsp;&nbsp;&nbsp;&nbsp;27518 |
| Bank of America, Loan ID - R1D36749564 (J) | &nbsp;&nbsp;11.500 | &nbsp;&nbsp;06-01-35 | 18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 |
| Bank of America, Loan ID - R1D368227582 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.875 | &nbsp;&nbsp;12-01-28 | 21913 | &nbsp;&nbsp;&nbsp;&nbsp;16588 |
| Bank of America, Loan ID - R1D377116667 (L) | &nbsp;&nbsp;12.125 | &nbsp;&nbsp;08-01-24 | 9988 | &nbsp;&nbsp;&nbsp;&nbsp;7561 |
| Bank of America, Loan ID - R1D382472688 (L) | &nbsp;&nbsp;&nbsp;&nbsp;6.500 | &nbsp;&nbsp;11-01-28 | 100524 | &nbsp;&nbsp;&nbsp;&nbsp;76097 |
| Bank of America, Loan ID - R1D4135626031 (J) | &nbsp;&nbsp;&nbsp;&nbsp;9.500 | &nbsp;&nbsp;10-11-35 | 53553 | &nbsp;&nbsp;&nbsp;&nbsp;39859 |
| Bank of America, Loan ID - R1D4142880321 (J) | &nbsp;&nbsp;&nbsp;&nbsp;4.125 | &nbsp;&nbsp;06-15-36 | 57047 | &nbsp;&nbsp;&nbsp;&nbsp;42460 |
| Bank of America, Loan ID - R1D4176255967 | &nbsp;&nbsp;&nbsp;&nbsp;9.125 | &nbsp;&nbsp;07-25-32 | 15678 | &nbsp;&nbsp;&nbsp;&nbsp;11669 |
| Bank of America, Loan ID - R1D4874021873 | &nbsp;&nbsp;&nbsp;&nbsp;6.125 | &nbsp;&nbsp;11-01-34 | 147427 | &nbsp;&nbsp;109730 |
| Bank of America, Loan ID - R1D4875758189 (J) | &nbsp;&nbsp;&nbsp;&nbsp;2.740 | &nbsp;&nbsp;03-29-33 | 443981 | &nbsp;&nbsp;330455 |
| Bank of America, Loan ID - R1D4875958325 | &nbsp;&nbsp;&nbsp;&nbsp;8.440 | &nbsp;&nbsp;12-01-31 | 12621 | &nbsp;&nbsp;&nbsp;&nbsp;9394 |
| Bank of America, Loan ID - R1D4875960106 (L) | &nbsp;&nbsp;&nbsp;&nbsp;8.090 | &nbsp;&nbsp;04-15-32 | 31092 | &nbsp;&nbsp;&nbsp;&nbsp;23142 |
| Bank of America, Loan ID - R1D4875973630 (L) | &nbsp;&nbsp;&nbsp;&nbsp;8.090 | &nbsp;&nbsp;03-01-31 | 22201 | &nbsp;&nbsp;&nbsp;&nbsp;16524 |
| Bank of America, Loan ID - R1D4876049582 (J) | &nbsp;&nbsp;&nbsp;&nbsp;8.240 | &nbsp;&nbsp;07-18-32 | 5168 | &nbsp;&nbsp;&nbsp;&nbsp;3847 |
| Bank of America, Loan ID - R1D4876317082 (L) | &nbsp;&nbsp;&nbsp;&nbsp;7.490 | &nbsp;&nbsp;07-29-30 | 59371 | &nbsp;&nbsp;&nbsp;&nbsp;44190 |
| Bank of America, Loan ID - R1D4876762155 (J) | &nbsp;&nbsp;&nbsp;&nbsp;7.740 | &nbsp;&nbsp;01-16-36 | 57703 | &nbsp;&nbsp;&nbsp;&nbsp;42948 |
| Bank of America, Loan ID - R1D4876763347 (L) | &nbsp;&nbsp;&nbsp;&nbsp;4.375 | &nbsp;&nbsp;01-03-54 | 346093 | &nbsp;&nbsp;257597 |
| Bank of America, Loan ID - R1D4876771641 (L) | &nbsp;&nbsp;&nbsp;&nbsp;2.740 | &nbsp;&nbsp;06-01-35 | 137964 | &nbsp;&nbsp;102686 |
| Bank of America, Loan ID - R1D4876787441 | &nbsp;&nbsp;&nbsp;&nbsp;3.000 | &nbsp;&nbsp;09-01-54 | 324944 | &nbsp;&nbsp;241856 |
| Bank of America, Loan ID - R1D4877096402 (L) | &nbsp;&nbsp;&nbsp;&nbsp;9.240 | &nbsp;&nbsp;05-01-35 | 30803 | &nbsp;&nbsp;&nbsp;&nbsp;22926 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 12

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| Bank of America, Loan ID - R1D4877182962 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.059 | &nbsp;&nbsp;11-12-31 | 48719 | &nbsp;&nbsp;$36261 |
| Bank of America, Loan ID - R1D4877521188 (J) | &nbsp;&nbsp;&nbsp;&nbsp;6.190 | &nbsp;&nbsp;02-09-32 | 10194 | &nbsp;&nbsp;&nbsp;&nbsp;7587 |
| Bank of America, Loan ID - R1D648343679 | &nbsp;&nbsp;&nbsp;&nbsp;9.750 | &nbsp;&nbsp;11-25-29 | 63332 | &nbsp;&nbsp;&nbsp;&nbsp;54294 |
| Bank of America, Loan ID - R1D65796677 | &nbsp;&nbsp;10.875 | &nbsp;&nbsp;10-25-29 | 4664 | &nbsp;&nbsp;&nbsp;&nbsp;3999 |
| Bank of America, Loan ID - R1D667955965 | &nbsp;&nbsp;11.375 | &nbsp;&nbsp;10-25-29 | 7406 | &nbsp;&nbsp;&nbsp;&nbsp;6349 |
| Bank of America, Loan ID - R1D67442686 | &nbsp;&nbsp;12.750 | &nbsp;&nbsp;10-25-29 | 5366 | &nbsp;&nbsp;&nbsp;&nbsp;4600 |
| Bank of America, Loan ID - R1D676546412 | &nbsp;&nbsp;&nbsp;&nbsp;5.250 | &nbsp;&nbsp;10-25-29 | 55703 | &nbsp;&nbsp;&nbsp;&nbsp;47754 |
| Bank of America, Loan ID - R1D677588112 (L) | &nbsp;&nbsp;12.500 | &nbsp;&nbsp;08-25-29 | 15315 | &nbsp;&nbsp;&nbsp;&nbsp;13130 |
| Bank of America, Loan ID - R1D681784389 (L) | &nbsp;&nbsp;&nbsp;&nbsp;3.875 | &nbsp;&nbsp;09-25-29 | 379955 | &nbsp;&nbsp;325735 |
| Bank of America, Loan ID - R1D681965722 | &nbsp;&nbsp;11.000 | &nbsp;&nbsp;10-25-29 | 22653 | &nbsp;&nbsp;&nbsp;&nbsp;19421 |
| Bank of America, Loan ID - R1D682449041 (L) | &nbsp;&nbsp;11.500 | &nbsp;&nbsp;10-25-29 | 12482 | &nbsp;&nbsp;&nbsp;&nbsp;10701 |
| Bank of America, Loan ID - R1D682585998 (L) | &nbsp;&nbsp;11.500 | &nbsp;&nbsp;10-25-29 | 317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272 |
| Bank of America, Loan ID - R1D683170000 (L) | &nbsp;&nbsp;&nbsp;&nbsp;6.750 | &nbsp;&nbsp;10-25-29 | 17414 | &nbsp;&nbsp;&nbsp;&nbsp;14929 |
| Bank of America, Loan ID - R1D684180712 | &nbsp;&nbsp;&nbsp;&nbsp;9.750 | &nbsp;&nbsp;10-25-29 | 4762 | &nbsp;&nbsp;&nbsp;&nbsp;4082 |
| Bank of America, Loan ID - R1D684517492 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.625 | &nbsp;&nbsp;10-25-29 | 32592 | &nbsp;&nbsp;&nbsp;&nbsp;27941 |
| Bank of America, Loan ID - R1D684953503 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;11-25-29 | 14776 | &nbsp;&nbsp;&nbsp;&nbsp;12668 |
| Bank of America, Loan ID - R1D685329020 | &nbsp;&nbsp;&nbsp;&nbsp;8.750 | &nbsp;&nbsp;11-25-29 | 4054 | &nbsp;&nbsp;&nbsp;&nbsp;3475 |
| Bank of America, Loan ID - R1D685968483 | &nbsp;&nbsp;&nbsp;&nbsp;8.750 | &nbsp;&nbsp;11-25-29 | 7084 | &nbsp;&nbsp;&nbsp;&nbsp;6073 |
| Bank of America, Loan ID - R1D686170042 (L) | &nbsp;&nbsp;&nbsp;&nbsp;9.125 | &nbsp;&nbsp;11-25-29 | 144976 | &nbsp;&nbsp;124288 |
| Bank of America, Loan ID - R1D686179719 | &nbsp;&nbsp;&nbsp;&nbsp;9.750 | &nbsp;&nbsp;11-25-29 | 6045 | &nbsp;&nbsp;&nbsp;&nbsp;5182 |
| Bank of America, Loan ID - R1D686281525 | &nbsp;&nbsp;13.125 | &nbsp;&nbsp;11-25-29 | 4686 | &nbsp;&nbsp;&nbsp;&nbsp;4018 |
| Bank of America, Loan ID - R1D686392408 (L) | &nbsp;&nbsp;&nbsp;&nbsp;6.250 | &nbsp;&nbsp;11-25-29 | 82692 | &nbsp;&nbsp;&nbsp;&nbsp;70892 |
| Bank of America, Loan ID - R1D686481633 (L) | &nbsp;&nbsp;12.000 | &nbsp;&nbsp;11-25-29 | 15079 | &nbsp;&nbsp;&nbsp;&nbsp;12927 |
| Capital Asset Management, Loan ID - R1D1153882 | &nbsp;&nbsp;&nbsp;&nbsp;3.900 | &nbsp;&nbsp;09-01-47 | 67362 | &nbsp;&nbsp;&nbsp;&nbsp;44439 |
| Capital Asset Management, Loan ID - R1D1183348 (L) | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | &nbsp;&nbsp;05-01-48 | 39375 | &nbsp;&nbsp;&nbsp;&nbsp;25976 |

---

13 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| Capital Asset Management, Loan ID - R1D1184084 (L) | &nbsp;&nbsp;&nbsp;&nbsp;2.000 | &nbsp;&nbsp;02-01-49 | 45423 | &nbsp;&nbsp;$29966 |
| Capital Asset Management, Loan ID - R1D1184204 (J) | &nbsp;&nbsp;12.375 | &nbsp;&nbsp;12-01-36 | 63000 | &nbsp;&nbsp;&nbsp;&nbsp;41561 |
| Capital Asset Management, Loan ID - R1D1184992 (L) | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | &nbsp;&nbsp;11-10-43 | 32187 | &nbsp;&nbsp;&nbsp;&nbsp;21234 |
| Capital Asset Management, Loan ID - R1D1214825 (L) | &nbsp;&nbsp;10.250 | &nbsp;&nbsp;02-01-37 | 106746 | &nbsp;&nbsp;&nbsp;&nbsp;70420 |
| Capital Asset Management, Loan ID - R1D1216036 (J) | &nbsp;&nbsp;10.000 | &nbsp;&nbsp;03-19-62 | 47097 | &nbsp;&nbsp;&nbsp;&nbsp;31070 |
| Capital Asset Management, Loan ID - R1D1233673 (J) | &nbsp;&nbsp;11.000 | &nbsp;&nbsp;02-15-27 | 7842 | &nbsp;&nbsp;&nbsp;&nbsp;5173 |
| Capital Asset Management, Loan ID - R1D1246972 | &nbsp;&nbsp;&nbsp;&nbsp;6.950 | &nbsp;&nbsp;11-01-35 | 18743 | &nbsp;&nbsp;&nbsp;&nbsp;12365 |
| Capital Asset Management, Loan ID - R1D1251042 (L) | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;07-05-41 | 41021 | &nbsp;&nbsp;&nbsp;&nbsp;27061 |
| Capital Asset Management, Loan ID - R1D1270777 (J) | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | &nbsp;&nbsp;03-01-34 | 61396 | &nbsp;&nbsp;&nbsp;&nbsp;40503 |
| Capital Asset Management, Loan ID - R1D1271156 (J) | &nbsp;&nbsp;&nbsp;&nbsp;4.875 | &nbsp;&nbsp;02-01-40 | 37848 | &nbsp;&nbsp;&nbsp;&nbsp;24968 |
| Capital Asset Management, Loan ID - R1D1272438 | &nbsp;&nbsp;&nbsp;&nbsp;4.999 | &nbsp;&nbsp;05-01-41 | 15205 | &nbsp;&nbsp;&nbsp;&nbsp;10031 |
| Capital Asset Management, Loan ID - R1D1285038 (J) | &nbsp;&nbsp;&nbsp;&nbsp;7.750 | &nbsp;&nbsp;11-01-37 | 96731 | &nbsp;&nbsp;&nbsp;&nbsp;63814 |
| Capital Asset Management, Loan ID - R1D1314469 (J) | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;08-22-31 | 1351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891 |
| Capital Asset Management, Loan ID - R1D1314775 | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | &nbsp;&nbsp;10-28-37 | 20429 | &nbsp;&nbsp;&nbsp;&nbsp;13477 |
| Capital Asset Management, Loan ID - R1D1316742 | &nbsp;&nbsp;&nbsp;&nbsp;3.500 | &nbsp;&nbsp;07-25-42 | 32754 | &nbsp;&nbsp;&nbsp;&nbsp;21608 |
| Capital Asset Management, Loan ID - R1D1317596 (J) | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;07-02-34 | 10474 | &nbsp;&nbsp;&nbsp;&nbsp;6909 |
| Capital Asset Management, Loan ID - R1D1317738 | &nbsp;&nbsp;&nbsp;&nbsp;3.000 | &nbsp;&nbsp;06-01-58 | 74624 | &nbsp;&nbsp;&nbsp;&nbsp;49229 |
| Capital Asset Management, Loan ID - R1D1320040 (J) | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;01-12-28 | 2369 | &nbsp;&nbsp;&nbsp;&nbsp;1563 |
| Capital Asset Management, Loan ID - R1D1330504 (L) | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;09-15-31 | 1785 | &nbsp;&nbsp;&nbsp;&nbsp;1177 |
| Capital Asset Management, Loan ID - R1D1331024 (L) | &nbsp;&nbsp;12.389 | &nbsp;&nbsp;01-15-23 | 14346 | &nbsp;&nbsp;&nbsp;&nbsp;9464 |
| Capital Asset Management, Loan ID - R1D1331435 (L) | &nbsp;&nbsp;13.930 | &nbsp;&nbsp;04-04-24 | 21507 | &nbsp;&nbsp;&nbsp;&nbsp;14188 |
| Capital Asset Management, Loan ID - R1D1331710 (L) | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;11-01-35 | 24840 | &nbsp;&nbsp;&nbsp;&nbsp;16387 |
| Capital Asset Management, Loan ID - R1D1332368 (L) | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;06-01-26 | 9628 | &nbsp;&nbsp;&nbsp;&nbsp;6351 |
| Capital Asset Management, Loan ID - R1D1333231 | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;08-01-37 | 11498 | &nbsp;&nbsp;&nbsp;&nbsp;7585 |
| Capital Asset Management, Loan ID - R1D1333871 | &nbsp;&nbsp;14.128 | &nbsp;&nbsp;04-13-47 | 18357 | &nbsp;&nbsp;&nbsp;&nbsp;12110 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 14

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| Capital Asset Management, Loan ID - R1D1333909 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;11-01-31 | 26887 | &nbsp;&nbsp;$17737 |
| Capital Asset Management, Loan ID - R1D1333990 (L) | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;12-01-35 | 62408 | &nbsp;&nbsp;&nbsp;&nbsp;41171 |
| Capital Asset Management, Loan ID - R1D1346507 | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;03-01-36 | 33322 | &nbsp;&nbsp;&nbsp;&nbsp;21982 |
| Capital Asset Management, Loan ID - R1D1373336 (L) | &nbsp;&nbsp;&nbsp;&nbsp;4.250 | &nbsp;&nbsp;07-01-22 | 731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482 |
| Capital Asset Management, Loan ID - R1D1373352 | &nbsp;&nbsp;10.720 | &nbsp;&nbsp;12-01-28 | 9526 | &nbsp;&nbsp;&nbsp;&nbsp;6284 |
| Capital Asset Management, Loan ID - R1D1373527 (J) | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;10-01-24 | 5126 | &nbsp;&nbsp;&nbsp;&nbsp;3382 |
| Capital Asset Management, Loan ID - R1D1374601 | &nbsp;&nbsp;&nbsp;&nbsp;9.996 | &nbsp;&nbsp;06-01-28 | 9275 | &nbsp;&nbsp;&nbsp;&nbsp;6118 |
| Capital Asset Management, Loan ID - R1D1376601 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.250 | &nbsp;&nbsp;08-01-21 | 2526 | &nbsp;&nbsp;&nbsp;&nbsp;1666 |
| Capital Asset Management, Loan ID - R1D1377871 (L) | &nbsp;&nbsp;14.600 | &nbsp;&nbsp;10-01-21 | 3780 | &nbsp;&nbsp;&nbsp;&nbsp;2494 |
| Capital Asset Management, Loan ID - R1D1377909 (L) | &nbsp;&nbsp;14.069 | &nbsp;&nbsp;04-01-22 | 2667 | &nbsp;&nbsp;&nbsp;&nbsp;1759 |
| Capital Asset Management, Loan ID - R1D1379505 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.250 | &nbsp;&nbsp;06-01-21 | 217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143 |
| Capital Asset Management, Loan ID - R1D1382459 (L) | &nbsp;&nbsp;11.290 | &nbsp;&nbsp;09-01-24 | 8526 | &nbsp;&nbsp;&nbsp;&nbsp;5625 |
| Capital Asset Management, Loan ID - R1D1382688 | &nbsp;&nbsp;10.480 | &nbsp;&nbsp;10-01-28 | 2958 | &nbsp;&nbsp;&nbsp;&nbsp;1951 |
| Capital Asset Management, Loan ID - R1D1383898 | &nbsp;&nbsp;13.000 | &nbsp;&nbsp;03-01-28 | 6813 | &nbsp;&nbsp;&nbsp;&nbsp;4495 |
| Capital Asset Management, Loan ID - R1D1383904 (L) | &nbsp;&nbsp;14.447 | &nbsp;&nbsp;04-01-26 | 4305 | &nbsp;&nbsp;&nbsp;&nbsp;2840 |
| Capital Asset Management, Loan ID - R1D1384406 (L) | &nbsp;&nbsp;14.148 | &nbsp;&nbsp;07-01-23 | 9112 | &nbsp;&nbsp;&nbsp;&nbsp;6011 |
| Capital Asset Management, Loan ID - R1D1384420 (L) | &nbsp;&nbsp;14.350 | &nbsp;&nbsp;02-01-24 | 16772 | &nbsp;&nbsp;&nbsp;&nbsp;11065 |
| Capital Asset Management, Loan ID - R1D1386024 | &nbsp;&nbsp;&nbsp;&nbsp;8.688 | &nbsp;&nbsp;05-01-28 | 5606 | &nbsp;&nbsp;&nbsp;&nbsp;3698 |
| Capital Asset Management, Loan ID - R1D1386378 (J) | &nbsp;&nbsp;14.140 | &nbsp;&nbsp;08-01-25 | 933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615 |
| Capital Asset Management, Loan ID - R1D1386680 (J) | &nbsp;&nbsp;11.000 | &nbsp;&nbsp;02-19-34 | 11796 | &nbsp;&nbsp;&nbsp;&nbsp;7782 |
| Capital Asset Management, Loan ID - R1D1387610 (L) | &nbsp;&nbsp;13.656 | &nbsp;&nbsp;09-23-32 | 13567 | &nbsp;&nbsp;&nbsp;&nbsp;8950 |
| Capital Asset Management, Loan ID - R1D1388781 (L) | &nbsp;&nbsp;14.660 | &nbsp;&nbsp;12-20-35 | 13649 | &nbsp;&nbsp;&nbsp;&nbsp;9004 |
| Capital Asset Management, Loan ID - R1D138888 (L) | &nbsp;&nbsp;&nbsp;&nbsp;3.000 | &nbsp;&nbsp;05-01-57 | 25694 | &nbsp;&nbsp;&nbsp;&nbsp;16950 |
| Capital Asset Management, Loan ID - R1D1388909 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.250 | &nbsp;&nbsp;10-01-21 | 7407 | &nbsp;&nbsp;&nbsp;&nbsp;4886 |
| Capital Asset Management, Loan ID - R1D1389180 | &nbsp;&nbsp;11.060 | &nbsp;&nbsp;03-01-27 | 13399 | &nbsp;&nbsp;&nbsp;&nbsp;8839 |

---

15 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| Capital Asset Management, Loan ID - R1D1390047 (J) | &nbsp;&nbsp;14.347 | &nbsp;&nbsp;05-05-25 | 5265 | &nbsp;&nbsp;&nbsp;&nbsp;$3473 |
| Capital Asset Management, Loan ID - R1D1390407 (L) | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;01-01-21 | 88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 |
| Capital Asset Management, Loan ID - R1D1391149 (L) | &nbsp;&nbsp;14.280 | &nbsp;&nbsp;03-01-20 | 848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559 |
| Capital Asset Management, Loan ID - R1D1391275 | &nbsp;&nbsp;14.908 | &nbsp;&nbsp;02-05-32 | 9338 | &nbsp;&nbsp;&nbsp;&nbsp;6160 |
| Capital Asset Management, Loan ID - R1D1391842 | &nbsp;&nbsp;13.970 | &nbsp;&nbsp;06-28-35 | 13578 | &nbsp;&nbsp;&nbsp;&nbsp;8957 |
| Capital Asset Management, Loan ID - R1D1392485 (L) | &nbsp;&nbsp;&nbsp;&nbsp;8.304 | &nbsp;&nbsp;02-01-22 | 5153 | &nbsp;&nbsp;&nbsp;&nbsp;3399 |
| Capital Asset Management, Loan ID - R1D1392795 (J) | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;11-01-21 | 5716 | &nbsp;&nbsp;&nbsp;&nbsp;3771 |
| Capital Asset Management, Loan ID - R1D1393130 (L) | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | &nbsp;&nbsp;02-01-29 | 3386 | &nbsp;&nbsp;&nbsp;&nbsp;2234 |
| Capital Asset Management, Loan ID - R1D1394267 (L) | &nbsp;&nbsp;&nbsp;&nbsp;4.500 | &nbsp;&nbsp;10-01-22 | 2876 | &nbsp;&nbsp;&nbsp;&nbsp;1897 |
| Capital Asset Management, Loan ID - R1D1394531 | &nbsp;&nbsp;11.890 | &nbsp;&nbsp;05-01-28 | 9805 | &nbsp;&nbsp;&nbsp;&nbsp;6468 |
| Capital Asset Management, Loan ID - R1D1395006 (J) | &nbsp;&nbsp;13.690 | &nbsp;&nbsp;02-28-30 | 8083 | &nbsp;&nbsp;&nbsp;&nbsp;5332 |
| Capital Asset Management, Loan ID - R1D1395613 (J) | &nbsp;&nbsp;14.810 | &nbsp;&nbsp;02-01-23 | 14939 | &nbsp;&nbsp;&nbsp;&nbsp;9856 |
| Capital Asset Management, Loan ID - R1D1399385 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.250 | &nbsp;&nbsp;10-22-21 | 65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 |
| Capital Asset Management, Loan ID - R1D1404291 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;08-01-61 | 24036 | &nbsp;&nbsp;&nbsp;&nbsp;15857 |
| Capital Asset Management, Loan ID - R1D1404613 (L) | &nbsp;&nbsp;10.000 | &nbsp;&nbsp;04-01-25 | 4672 | &nbsp;&nbsp;&nbsp;&nbsp;3082 |
| Capital Asset Management, Loan ID - R1D1405485 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;02-01-32 | 36815 | &nbsp;&nbsp;&nbsp;&nbsp;24287 |
| Capital Asset Management, Loan ID - R1D1406329 (L) | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;04-01-35 | 77224 | &nbsp;&nbsp;&nbsp;&nbsp;50945 |
| Capital Asset Management, Loan ID - R1D1410621 (J) | &nbsp;&nbsp;10.000 | &nbsp;&nbsp;11-30-37 | 169739 | &nbsp;&nbsp;111977 |
| Capital Asset Management, Loan ID - R1D1493873 (L) | &nbsp;&nbsp;&nbsp;&nbsp;6.750 | &nbsp;&nbsp;08-20-29 | 96719 | &nbsp;&nbsp;&nbsp;&nbsp;63806 |
| Capital Asset Management, Loan ID - R1D1526783 | &nbsp;&nbsp;&nbsp;&nbsp;6.750 | &nbsp;&nbsp;03-01-32 | 23708 | &nbsp;&nbsp;&nbsp;&nbsp;15640 |
| Capital Asset Management, Loan ID - R1D1538702 | &nbsp;&nbsp;&nbsp;&nbsp;4.500 | &nbsp;&nbsp;10-01-59 | 355120 | &nbsp;&nbsp;234273 |
| Capital Asset Management, Loan ID - R1D1582190 | &nbsp;&nbsp;&nbsp;&nbsp;2.000 | &nbsp;&nbsp;06-01-28 | 7789 | &nbsp;&nbsp;&nbsp;&nbsp;5138 |
| Capital Asset Management, Loan ID - R1D1582271 (L) | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;10-01-28 | 18747 | &nbsp;&nbsp;&nbsp;&nbsp;12368 |
| Capital Asset Management, Loan ID - R1D1582428 (J) | &nbsp;&nbsp;&nbsp;&nbsp;3.000 | &nbsp;&nbsp;01-01-43 | 72216 | &nbsp;&nbsp;&nbsp;&nbsp;47641 |
| Capital Asset Management, Loan ID - R1D1582848 (L) | &nbsp;&nbsp;13.990 | &nbsp;&nbsp;05-24-32 | 11335 | &nbsp;&nbsp;&nbsp;&nbsp;7478 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 16

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| Capital Asset Management, Loan ID - R1D1583331 (L) | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | &nbsp;&nbsp;06-01-27 | 11483 | &nbsp;&nbsp;&nbsp;&nbsp;$7575 |
| Capital Asset Management, Loan ID - R1D1584709 | &nbsp;&nbsp;&nbsp;&nbsp;2.000 | &nbsp;&nbsp;02-01-31 | 7824 | &nbsp;&nbsp;&nbsp;&nbsp;5162 |
| Capital Asset Management, Loan ID - R1D1584745 | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | &nbsp;&nbsp;12-01-36 | 21564 | &nbsp;&nbsp;&nbsp;&nbsp;14226 |
| Capital Asset Management, Loan ID - R1D1584833 | &nbsp;&nbsp;11.975 | &nbsp;&nbsp;04-01-31 | 19405 | &nbsp;&nbsp;&nbsp;&nbsp;12801 |
| Capital Asset Management, Loan ID - R1D1585078 (J) | &nbsp;&nbsp;12.250 | &nbsp;&nbsp;04-01-24 | 3891 | &nbsp;&nbsp;&nbsp;&nbsp;2567 |
| CTF Asset Management, Loan ID - R1D861192126 | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | &nbsp;&nbsp;01-01-52 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;43680 |
| CTF Asset Management, Loan ID - R1D861221792 | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | &nbsp;&nbsp;01-01-52 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;43680 |
| CTF Asset Management, Loan ID - R1D861388112 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;01-01-52 | 51500 | &nbsp;&nbsp;&nbsp;&nbsp;44990 |
| CTF Asset Management, Loan ID - R1D861527735 | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | &nbsp;&nbsp;03-01-52 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;43680 |
| CTF Asset Management, Loan ID - R1D862116231 | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | &nbsp;&nbsp;03-01-52 | 186001 | &nbsp;&nbsp;162490 |
| CTF Asset Management, Loan ID - R1D862166335 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;03-01-52 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;43680 |
| CTF Asset Management, Loan ID - R1D862302948 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;04-01-52 | 48867 | &nbsp;&nbsp;&nbsp;&nbsp;42690 |
| CTF Asset Management, Loan ID - R1D862332325 | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | &nbsp;&nbsp;04-01-52 | 500000 | &nbsp;&nbsp;436800 |
| CTF Asset Management, Loan ID - R1D862389291 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;04-01-52 | 300000 | &nbsp;&nbsp;262080 |
| CTF Asset Management, Loan ID - R1D862389994 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;04-01-52 | 52500 | &nbsp;&nbsp;&nbsp;&nbsp;45864 |
| CTF Asset Management, Loan ID - R1D862399514 | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | &nbsp;&nbsp;04-01-52 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;43680 |
| CTF Asset Management, Loan ID - R1D862440813 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;05-01-52 | 92000 | &nbsp;&nbsp;&nbsp;&nbsp;80371 |
| CTF Asset Management, Loan ID - R1D862465398 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;05-01-52 | 27000 | &nbsp;&nbsp;&nbsp;&nbsp;23587 |
| CTF Asset Management, Loan ID - R1D862505037 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;05-01-52 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;43680 |
| CTF Asset Management, Loan ID - R1D862525928 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;05-01-52 | 115000 | &nbsp;&nbsp;100464 |
| CTF Asset Management, Loan ID - R1D862525936 | &nbsp;&nbsp;&nbsp;&nbsp;9.500 | &nbsp;&nbsp;05-01-52 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;43680 |
| CTF Asset Management, Loan ID - R1D862651740 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;06-01-52 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;43680 |
| CTF Asset Management, Loan ID - R1D862651831 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;06-01-52 | 69403 | &nbsp;&nbsp;&nbsp;&nbsp;60631 |
| CTF Asset Management, Loan ID - R1D862687082 | &nbsp;&nbsp;&nbsp;&nbsp;9.500 | &nbsp;&nbsp;06-01-52 | 48842 | &nbsp;&nbsp;&nbsp;&nbsp;42668 |
| CTF Asset Management, Loan ID - R1D862731658 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;06-01-52 | 59500 | &nbsp;&nbsp;&nbsp;&nbsp;51979 |

---

17 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| CTF Asset Management, Loan ID - R1D862732045 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;06-01-52 | 50000 | &nbsp;&nbsp;$43680 |
| CTF Asset Management, Loan ID - R1D862739529 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;06-01-52 | 8340 | &nbsp;&nbsp;&nbsp;&nbsp;7286 |
| CTF Asset Management, Loan ID - R1D862750401 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;06-01-52 | 72500 | &nbsp;&nbsp;&nbsp;&nbsp;63336 |
| CTF Asset Management, Loan ID - R1D862750500 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;06-01-52 | 477000 | &nbsp;&nbsp;416707 |
| CTF Asset Management, Loan ID - R1D862750765 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;06-01-52 | 86300 | &nbsp;&nbsp;&nbsp;&nbsp;75392 |
| CTF Asset Management, Loan ID - R1D862799119 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;07-01-52 | 49425 | &nbsp;&nbsp;&nbsp;&nbsp;43178 |
| CTF Asset Management, Loan ID - R1D862829270 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;07-01-52 | 49193 | &nbsp;&nbsp;&nbsp;&nbsp;42975 |
| CTF Asset Management, Loan ID - R1D862849351 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;07-01-52 | 151198 | &nbsp;&nbsp;132087 |
| CTF Asset Management, Loan ID - R1D862876396 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;07-01-52 | 60500 | &nbsp;&nbsp;&nbsp;&nbsp;52853 |
| CTF Asset Management, Loan ID - R1D862922356 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;07-01-52 | 24596 | &nbsp;&nbsp;&nbsp;&nbsp;21487 |
| CTF Asset Management, Loan ID - R1D865490872 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;07-01-52 | 141000 | &nbsp;&nbsp;123178 |
| CTF Asset Management, Loan ID - R1D865490948 | &nbsp;&nbsp;10.250 | &nbsp;&nbsp;08-01-52 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;43680 |
| CTF Asset Management, Loan ID - R1D865490955 | &nbsp;&nbsp;10.250 | &nbsp;&nbsp;08-01-52 | 572500 | &nbsp;&nbsp;500136 |
| CTF Asset Management, Loan ID - R1D865490971 | &nbsp;&nbsp;10.000 | &nbsp;&nbsp;08-01-52 | 54743 | &nbsp;&nbsp;&nbsp;&nbsp;47824 |
| CTF Asset Management, Loan ID - R1D865490997 | &nbsp;&nbsp;10.250 | &nbsp;&nbsp;08-01-52 | 52425 | &nbsp;&nbsp;&nbsp;&nbsp;45798 |
| CTF Asset Management, Loan ID - R1D865491029 | &nbsp;&nbsp;10.250 | &nbsp;&nbsp;08-01-52 | 14031 | &nbsp;&nbsp;&nbsp;&nbsp;12258 |
| CTF Asset Management, Loan ID - R1D865491052 | &nbsp;&nbsp;10.000 | &nbsp;&nbsp;09-01-52 | 101000 | &nbsp;&nbsp;&nbsp;&nbsp;88234 |
| CTF Asset Management, Loan ID - R1D865491078 | &nbsp;&nbsp;10.250 | &nbsp;&nbsp;08-01-52 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;17472 |
| CTF Asset Management, Loan ID - R1D865491102 | &nbsp;&nbsp;10.000 | &nbsp;&nbsp;09-01-52 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;43680 |
| CTF Asset Management, Loan ID - R1D865491128 | &nbsp;&nbsp;10.250 | &nbsp;&nbsp;09-01-52 | 6809 | &nbsp;&nbsp;&nbsp;&nbsp;5948 |
| CTF Asset Management, Loan ID - R1D865491136 | &nbsp;&nbsp;10.000 | &nbsp;&nbsp;09-01-52 | 58119 | &nbsp;&nbsp;&nbsp;&nbsp;50773 |
| CTF Asset Management, Loan ID - R1D865491185 | &nbsp;&nbsp;10.250 | &nbsp;&nbsp;10-01-52 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;43680 |
| CTF Asset Management, Loan ID - R1D865491219 | &nbsp;&nbsp;10.250 | &nbsp;&nbsp;10-01-52 | 225000 | &nbsp;&nbsp;196560 |
| CTF Asset Management, Loan ID - R1D89160038038 (L) | &nbsp;&nbsp;12.200 | &nbsp;&nbsp;12-01-36 | 67642 | &nbsp;&nbsp;&nbsp;&nbsp;59092 |
| CTF Asset Management, Loan ID - R1D891600380381 (L) | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;08-01-28 | 258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 18

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| CTF Asset Management, Loan ID - R1D89160044688 | &nbsp;&nbsp;&nbsp;&nbsp;4.750 | &nbsp;&nbsp;04-01-64 | 192030 | &nbsp;&nbsp;$167757 |
| CTF Asset Management, Loan ID - R1D89160044690 | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;07-01-37 | 12456 | &nbsp;&nbsp;&nbsp;&nbsp;10882 |
| CTF Asset Management, Loan ID - R1D89160044748 | &nbsp;&nbsp;11.700 | &nbsp;&nbsp;05-01-39 | 14944 | &nbsp;&nbsp;&nbsp;&nbsp;13055 |
| CTF Asset Management, Loan ID - R1D89160045474 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;06-01-53 | 22056 | &nbsp;&nbsp;&nbsp;&nbsp;19268 |
| CTF Asset Management, Loan ID - R1D89160045528 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;07-01-29 | 32905 | &nbsp;&nbsp;&nbsp;&nbsp;28746 |
| CTF Asset Management, Loan ID - R1D89160046378 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;09-01-63 | 74818 | &nbsp;&nbsp;&nbsp;&nbsp;65361 |
| CTF Asset Management, Loan ID - R1D89160058918 | &nbsp;&nbsp;&nbsp;&nbsp;5.250 | &nbsp;&nbsp;11-01-52 | 88297 | &nbsp;&nbsp;&nbsp;&nbsp;77136 |
| CTF Asset Management, Loan ID - R1D89160058998 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;12-01-42 | 33232 | &nbsp;&nbsp;&nbsp;&nbsp;29031 |
| CTF Asset Management, Loan ID - R1D89160059480 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;11-01-51 | 192988 | &nbsp;&nbsp;&nbsp;&nbsp;168594 |
| CTF Asset Management, Loan ID - R1D89160059548 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;06-01-42 | 42234 | &nbsp;&nbsp;&nbsp;&nbsp;36896 |
| CTF Asset Management, Loan ID - R1D89160061974 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;03-01-43 | 74971 | &nbsp;&nbsp;&nbsp;&nbsp;65494 |
| CTF Asset Management, Loan ID - R1D89160061988 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;05-01-42 | 46849 | &nbsp;&nbsp;&nbsp;&nbsp;40927 |
| CTF Asset Management, Loan ID - R1D89160062096 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;09-01-52 | 118790 | &nbsp;&nbsp;&nbsp;&nbsp;103775 |
| CTF Asset Management, Loan ID - R1D89160062110 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;10-01-41 | 52148 | &nbsp;&nbsp;&nbsp;&nbsp;45556 |
| CTF Asset Management, Loan ID - R1D89160062114 | &nbsp;&nbsp;&nbsp;&nbsp;4.250 | &nbsp;&nbsp;06-15-51 | 86374 | &nbsp;&nbsp;&nbsp;&nbsp;75456 |
| CTF Asset Management, Loan ID - R1D89160062136 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;07-01-51 | 125943 | &nbsp;&nbsp;&nbsp;&nbsp;110024 |
| CTF Asset Management, Loan ID - R1D89160067642 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;06-01-52 | 74720 | &nbsp;&nbsp;&nbsp;&nbsp;65275 |
| CTF Asset Management, Loan ID - R1D89160069322 | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | &nbsp;&nbsp;07-15-52 | 123011 | &nbsp;&nbsp;&nbsp;&nbsp;107463 |
| CTF Asset Management, Loan ID - R1D89160070252 (L) | &nbsp;&nbsp;&nbsp;&nbsp;9.375 | &nbsp;&nbsp;06-01-37 | 55609 | &nbsp;&nbsp;&nbsp;&nbsp;48580 |
| CTF Asset Management, Loan ID - R1D89160070254 | &nbsp;&nbsp;&nbsp;&nbsp;9.250 | &nbsp;&nbsp;09-20-31 | 60998 | &nbsp;&nbsp;&nbsp;&nbsp;53288 |
| CTF Asset Management, Loan ID - R1D89160070258 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;05-01-42 | 40694 | &nbsp;&nbsp;&nbsp;&nbsp;35550 |
| CTF Asset Management, Loan ID - R1D89160070304 | &nbsp;&nbsp;12.000 | &nbsp;&nbsp;09-01-62 | 22521 | &nbsp;&nbsp;&nbsp;&nbsp;19674 |
| CTF Asset Management, Loan ID - R1D89160074370 | &nbsp;&nbsp;&nbsp;&nbsp;6.750 | &nbsp;&nbsp;07-01-36 | 43083 | &nbsp;&nbsp;&nbsp;&nbsp;37637 |
| CTF Asset Management, Loan ID - R1D89160075026 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;05-20-49 | 74482 | &nbsp;&nbsp;&nbsp;&nbsp;65067 |
| CTF Asset Management, Loan ID - R1D89160076994 | &nbsp;&nbsp;&nbsp;&nbsp;7.250 | &nbsp;&nbsp;11-01-60 | 153023 | &nbsp;&nbsp;&nbsp;&nbsp;133681 |

---

19 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| CTF Asset Management, Loan ID - R1D89160080328 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;12-20-33 | 300013 | &nbsp;&nbsp;$262092 |
| CTF Asset Management, Loan ID - R1D89160080998 | &nbsp;&nbsp;&nbsp;&nbsp;5.750 | &nbsp;&nbsp;03-20-37 | 80191 | &nbsp;&nbsp;&nbsp;&nbsp;70055 |
| CTF Asset Management, Loan ID - R1D89160082270 | &nbsp;&nbsp;&nbsp;&nbsp;7.115 | &nbsp;&nbsp;08-01-37 | 63764 | &nbsp;&nbsp;&nbsp;&nbsp;55705 |
| CTF Asset Management, Loan ID - R1D89160082820 | &nbsp;&nbsp;&nbsp;&nbsp;7.989 | &nbsp;&nbsp;10-01-42 | 104523 | &nbsp;&nbsp;&nbsp;&nbsp;91311 |
| CTF Asset Management, Loan ID - R1D89160082824 | &nbsp;&nbsp;&nbsp;&nbsp;7.874 | &nbsp;&nbsp;11-01-52 | 42851 | &nbsp;&nbsp;&nbsp;&nbsp;37434 |
| CTF Asset Management, Loan ID - R1D89160083650 | &nbsp;&nbsp;&nbsp;&nbsp;5.890 | &nbsp;&nbsp;01-01-28 | 61000 | &nbsp;&nbsp;&nbsp;&nbsp;53290 |
| CTF Asset Management, Loan ID - R1D89160083652 (K) | &nbsp;&nbsp;&nbsp;&nbsp;5.184 | &nbsp;&nbsp;10-01-25 | 231500 | &nbsp;&nbsp;&nbsp;&nbsp;202238 |
| CTF Asset Management, Loan ID - R1D89160083654 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;09-01-27 | 159895 | &nbsp;&nbsp;&nbsp;&nbsp;139684 |
| CTF Asset Management, Loan ID - R1D89160083656 | &nbsp;&nbsp;&nbsp;&nbsp;5.800 | &nbsp;&nbsp;04-25-53 | 82444 | &nbsp;&nbsp;&nbsp;&nbsp;72023 |
| CTF Asset Management, Loan ID - R1D89160083658 | &nbsp;&nbsp;&nbsp;&nbsp;5.500 | &nbsp;&nbsp;03-01-28 | 124187 | &nbsp;&nbsp;&nbsp;&nbsp;108490 |
| CTF Asset Management, Loan ID - R1D89160083660 | &nbsp;&nbsp;&nbsp;&nbsp;6.120 | &nbsp;&nbsp;02-01-28 | 147488 | &nbsp;&nbsp;&nbsp;&nbsp;128845 |
| CTF Asset Management, Loan ID - R1D89160083666 | &nbsp;&nbsp;&nbsp;&nbsp;9.250 | &nbsp;&nbsp;06-01-26 | 47158 | &nbsp;&nbsp;&nbsp;&nbsp;41197 |
| CTF Asset Management, Loan ID - R1D89160083668 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;07-01-42 | 37229 | &nbsp;&nbsp;&nbsp;&nbsp;32524 |
| CTF Asset Management, Loan ID - R1D89160083676 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;08-01-27 | 106891 | &nbsp;&nbsp;&nbsp;&nbsp;93380 |
| CTF Asset Management, Loan ID - R1D89160083678 | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;07-01-27 | 39006 | &nbsp;&nbsp;&nbsp;&nbsp;34075 |
| CTF Asset Management, Loan ID - R1D89160083682 | &nbsp;&nbsp;&nbsp;&nbsp;5.875 | &nbsp;&nbsp;04-01-53 | 131187 | &nbsp;&nbsp;&nbsp;&nbsp;114605 |
| CTF Asset Management, Loan ID - R1D89160083702 | &nbsp;&nbsp;&nbsp;&nbsp;5.250 | &nbsp;&nbsp;07-01-26 | 150300 | &nbsp;&nbsp;&nbsp;&nbsp;131302 |
| CTF Asset Management, Loan ID - R1D89160083706 | &nbsp;&nbsp;&nbsp;&nbsp;9.500 | &nbsp;&nbsp;10-01-35 | 49047 | &nbsp;&nbsp;&nbsp;&nbsp;42847 |
| CTF Asset Management, Loan ID - R1D89160084244 | &nbsp;&nbsp;14.999 | &nbsp;&nbsp;01-01-53 | 29387 | &nbsp;&nbsp;&nbsp;&nbsp;25672 |
| CTF Asset Management, Loan ID - R1D89160085000 | &nbsp;&nbsp;11.250 | &nbsp;&nbsp;11-01-43 | 72963 | &nbsp;&nbsp;&nbsp;&nbsp;63740 |
| CTF Asset Management, Loan ID - R1D89160086154 | &nbsp;&nbsp;&nbsp;&nbsp;8.990 | &nbsp;&nbsp;09-01-38 | 72598 | &nbsp;&nbsp;&nbsp;&nbsp;63421 |
| CTF Asset Management, Loan ID - R1D89160086156 | &nbsp;&nbsp;&nbsp;&nbsp;8.990 | &nbsp;&nbsp;09-01-38 | 67248 | &nbsp;&nbsp;&nbsp;&nbsp;58748 |
| CTF Asset Management, Loan ID - R1D89160086190 | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;06-01-50 | 77527 | &nbsp;&nbsp;&nbsp;&nbsp;67727 |
| CTF Asset Management, Loan ID - R1D89160086660 | &nbsp;&nbsp;11.699 | &nbsp;&nbsp;12-01-52 | 47056 | &nbsp;&nbsp;&nbsp;&nbsp;41108 |
| CTF Asset Management, Loan ID - R1D89160086670 | &nbsp;&nbsp;11.549 | &nbsp;&nbsp;12-01-53 | 58710 | &nbsp;&nbsp;&nbsp;&nbsp;51289 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 20

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| CTF Asset Management, Loan ID - R1D89160087568 | &nbsp;&nbsp;10.000 | &nbsp;&nbsp;05-01-36 | 126469 | &nbsp;&nbsp;$110483 |
| CTF Asset Management, Loan ID - R1D89992031886 | &nbsp;&nbsp;&nbsp;&nbsp;9.500 | &nbsp;&nbsp;06-01-30 | 11794 | &nbsp;&nbsp;&nbsp;&nbsp;10304 |
| PPR Capital Management, Loan ID - R1D51303030492 | &nbsp;&nbsp;&nbsp;&nbsp;8.750 | &nbsp;&nbsp;10-01-62 | 47051 | &nbsp;&nbsp;&nbsp;&nbsp;23168 |
| PPR Capital Management, Loan ID - R1D51403030022 (L) | &nbsp;&nbsp;&nbsp;&nbsp;9.125 | &nbsp;&nbsp;09-01-25 | 153406 | &nbsp;&nbsp;&nbsp;&nbsp;75537 |
| PPR Capital Management, Loan ID - R1D51403030279 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.100 | &nbsp;&nbsp;10-01-36 | 58608 | &nbsp;&nbsp;&nbsp;&nbsp;28858 |
| PPR Capital Management, Loan ID - R1D51403030352 | &nbsp;&nbsp;&nbsp;&nbsp;9.150 | &nbsp;&nbsp;11-01-35 | 90128 | &nbsp;&nbsp;&nbsp;&nbsp;44379 |
| PPR Capital Management, Loan ID - R1D51403030948 (L) | &nbsp;&nbsp;&nbsp;&nbsp;9.900 | &nbsp;&nbsp;05-22-38 | 22967 | &nbsp;&nbsp;&nbsp;&nbsp;11309 |
| PPR Capital Management, Loan ID - R1D51502010013 | &nbsp;&nbsp;&nbsp;&nbsp;8.350 | &nbsp;&nbsp;11-01-42 | 6904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 |
| PPR Capital Management, Loan ID - R1D51506010146 | &nbsp;&nbsp;&nbsp;&nbsp;7.250 | &nbsp;&nbsp;12-01-46 | 68206 | &nbsp;&nbsp;&nbsp;&nbsp;33585 |
| PPR Capital Management, Loan ID - R1D51506010444 | &nbsp;&nbsp;&nbsp;&nbsp;9.500 | &nbsp;&nbsp;01-01-52 | 51454 | &nbsp;&nbsp;&nbsp;&nbsp;25336 |
| PPR Capital Management, Loan ID - R1D51506010469 | &nbsp;&nbsp;&nbsp;&nbsp;9.750 | &nbsp;&nbsp;09-01-36 | 23449 | &nbsp;&nbsp;&nbsp;&nbsp;11546 |
| PPR Capital Management, Loan ID - R1D51507010001 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;01-01-28 | 4266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2101 |
| PPR Capital Management, Loan ID - R1D51605010212 | &nbsp;&nbsp;&nbsp;&nbsp;7.250 | &nbsp;&nbsp;06-01-31 | 20587 | &nbsp;&nbsp;&nbsp;&nbsp;10137 |
| PPR Capital Management, Loan ID - R1D51611010043 (L) | &nbsp;&nbsp;&nbsp;&nbsp;9.990 | &nbsp;&nbsp;01-01-21 | 9529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4692 |
| PPR Capital Management, Loan ID - R1D51805030001 | &nbsp;&nbsp;&nbsp;&nbsp;7.250 | &nbsp;&nbsp;03-20-43 | 20722 | &nbsp;&nbsp;&nbsp;&nbsp;10203 |
| PPR Capital Management, Loan ID - R1D51808040029 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;06-01-41 | 18191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8957 |
| PPR Capital Management, Loan ID - R1D51812030089 | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | &nbsp;&nbsp;08-01-47 | 69462 | &nbsp;&nbsp;&nbsp;&nbsp;34203 |
| PPR Capital Management, Loan ID - R1D51812030096 | &nbsp;&nbsp;13.500 | &nbsp;&nbsp;07-01-36 | 25922 | &nbsp;&nbsp;&nbsp;&nbsp;12764 |
| PPR Capital Management, Loan ID - R1D51812030180 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;02-01-50 | 117370 | &nbsp;&nbsp;&nbsp;&nbsp;57793 |
| PPR Capital Management, Loan ID - R1D51903040003 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;01-01-30 | 14403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7092 |
| PPR Capital Management, Loan ID - R1D51903040192 | &nbsp;&nbsp;11.625 | &nbsp;&nbsp;02-01-37 | 75935 | &nbsp;&nbsp;&nbsp;&nbsp;37390 |
| PPR Capital Management, Loan ID - R1D51903040208 (L) | &nbsp;&nbsp;&nbsp;&nbsp;8.990 | &nbsp;&nbsp;02-01-22 | 81917 | &nbsp;&nbsp;&nbsp;&nbsp;40336 |
| PPR Capital Management, Loan ID - R1D51904010040 (L) | &nbsp;&nbsp;&nbsp;&nbsp;6.250 | &nbsp;&nbsp;09-01-51 | 123424 | &nbsp;&nbsp;&nbsp;&nbsp;60774 |
| PPR Capital Management, Loan ID - R1D51906030034 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;12-01-48 | 213621 | &nbsp;&nbsp;&nbsp;&nbsp;105187 |
| PPR Capital Management, Loan ID - R1D52007020001 (L) | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;04-01-38 | 20078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9887 |

---

21 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| PPR Capital Management, Loan ID - R1D52110130001 (L) | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | &nbsp;&nbsp;05-18-42 | 97933 | &nbsp;&nbsp;$48222 |
| Shelving Rock, Loan ID - R1D71005316541 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;06-01-31 | 14993 | &nbsp;&nbsp;&nbsp;&nbsp;12663 |
| Shelving Rock, Loan ID - R1D71005330611 | &nbsp;&nbsp;&nbsp;&nbsp;5.750 | &nbsp;&nbsp;08-25-26 | 23191 | &nbsp;&nbsp;&nbsp;&nbsp;19587 |
| Shelving Rock, Loan ID - R1D71005332444 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;10-01-31 | 26743 | &nbsp;&nbsp;&nbsp;&nbsp;22587 |
| Shelving Rock, Loan ID - R1D71005349123 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;10-01-31 | 11648 | &nbsp;&nbsp;&nbsp;&nbsp;9838 |
| Shelving Rock, Loan ID - R1D71006123597 | &nbsp;&nbsp;&nbsp;&nbsp;6.125 | &nbsp;&nbsp;11-01-26 | 163349 | &nbsp;&nbsp;137965 |
| Shelving Rock, Loan ID - R1D7110507803 | &nbsp;&nbsp;&nbsp;&nbsp;8.875 | &nbsp;&nbsp;03-01-27 | 18895 | &nbsp;&nbsp;&nbsp;&nbsp;15958 |
| Shelving Rock, Loan ID - R1D7111713993 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;12-01-26 | 32001 | &nbsp;&nbsp;&nbsp;&nbsp;27028 |
| Shelving Rock, Loan ID - R1D7120449362 | &nbsp;&nbsp;&nbsp;&nbsp;8.375 | &nbsp;&nbsp;03-15-31 | 13764 | &nbsp;&nbsp;&nbsp;&nbsp;11625 |
| Shelving Rock, Loan ID - R1D7131263557 | &nbsp;&nbsp;10.625 | &nbsp;&nbsp;03-01-27 | 98451 | &nbsp;&nbsp;&nbsp;&nbsp;83151 |
| Shelving Rock, Loan ID - R1D7132056137 | &nbsp;&nbsp;&nbsp;&nbsp;5.500 | &nbsp;&nbsp;10-01-26 | 113851 | &nbsp;&nbsp;&nbsp;&nbsp;96159 |
| Shelving Rock, Loan ID - R1D7138556254 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;10-01-28 | 48327 | &nbsp;&nbsp;&nbsp;&nbsp;40817 |
| Shelving Rock, Loan ID - R1D714141816 | &nbsp;&nbsp;&nbsp;&nbsp;6.500 | &nbsp;&nbsp;08-01-36 | 314979 | &nbsp;&nbsp;266031 |
| Shelving Rock, Loan ID - R1D7146417973 | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;11-15-26 | 46665 | &nbsp;&nbsp;&nbsp;&nbsp;39413 |
| Shelving Rock, Loan ID - R1D7146861634 | &nbsp;&nbsp;10.250 | &nbsp;&nbsp;11-13-31 | 50100 | &nbsp;&nbsp;&nbsp;&nbsp;42314 |
| Shelving Rock, Loan ID - R1D7147658590 | &nbsp;&nbsp;10.525 | &nbsp;&nbsp;01-01-27 | 296139 | &nbsp;&nbsp;250119 |
| Shelving Rock, Loan ID - R1D7147758371 | &nbsp;&nbsp;&nbsp;&nbsp;7.900 | &nbsp;&nbsp;05-10-41 | 4654 | &nbsp;&nbsp;&nbsp;&nbsp;3931 |
| Shelving Rock, Loan ID - R1D7149559183 | &nbsp;&nbsp;&nbsp;&nbsp;4.750 | &nbsp;&nbsp;03-31-43 | 49681 | &nbsp;&nbsp;&nbsp;&nbsp;41960 |
| Shelving Rock, Loan ID - R1D7149677942 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;07-01-26 | 98697 | &nbsp;&nbsp;&nbsp;&nbsp;83359 |
| Shelving Rock, Loan ID - R1D7150056432 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;08-01-28 | 108868 | &nbsp;&nbsp;&nbsp;&nbsp;91950 |
| Shelving Rock, Loan ID - R1D715011 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;02-01-37 | 144168 | &nbsp;&nbsp;121764 |
| Shelving Rock, Loan ID - R1D7150554252 | &nbsp;&nbsp;&nbsp;&nbsp;7.375 | &nbsp;&nbsp;05-01-27 | 61861 | &nbsp;&nbsp;&nbsp;&nbsp;52248 |
| Shelving Rock, Loan ID - R1D715103820 | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;12-01-41 | 50889 | &nbsp;&nbsp;&nbsp;&nbsp;42981 |
| Shelving Rock, Loan ID - R1D7151117895 (L) | &nbsp;&nbsp;&nbsp;&nbsp;9.125 | &nbsp;&nbsp;12-01-31 | 84568 | &nbsp;&nbsp;&nbsp;&nbsp;71426 |
| Shelving Rock, Loan ID - R1D7151175171 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;06-01-38 | 20720 | &nbsp;&nbsp;&nbsp;&nbsp;17500 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 22

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| Shelving Rock, Loan ID - R1D7152139837 | &nbsp;&nbsp;&nbsp;&nbsp;7.750 | &nbsp;&nbsp;10-01-29 | 164473 | &nbsp;&nbsp;$138914 |
| Shelving Rock, Loan ID - R1D7152394494 | &nbsp;&nbsp;10.250 | &nbsp;&nbsp;11-01-31 | 61951 | &nbsp;&nbsp;&nbsp;&nbsp;52324 |
| Shelving Rock, Loan ID - R1D7152875318 | &nbsp;&nbsp;&nbsp;&nbsp;6.500 | &nbsp;&nbsp;01-01-27 | 69152 | &nbsp;&nbsp;&nbsp;&nbsp;58406 |
| Shelving Rock, Loan ID - R1D7153125943 (L) | &nbsp;&nbsp;&nbsp;&nbsp;7.375 | &nbsp;&nbsp;05-01-25 | 44194 | &nbsp;&nbsp;&nbsp;&nbsp;37326 |
| Shelving Rock, Loan ID - R1D7153215845 | &nbsp;&nbsp;10.875 | &nbsp;&nbsp;04-01-29 | 36986 | &nbsp;&nbsp;&nbsp;&nbsp;31239 |
| Shelving Rock, Loan ID - R1D7153283112 | &nbsp;&nbsp;10.750 | &nbsp;&nbsp;10-01-27 | 32851 | &nbsp;&nbsp;&nbsp;&nbsp;27746 |
| Shelving Rock, Loan ID - R1D7153331975 | &nbsp;&nbsp;&nbsp;&nbsp;8.750 | &nbsp;&nbsp;02-01-27 | 57885 | &nbsp;&nbsp;&nbsp;&nbsp;48890 |
| Shelving Rock, Loan ID - R1D7153681515 | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;04-01-28 | 68542 | &nbsp;&nbsp;&nbsp;&nbsp;57890 |
| Shelving Rock, Loan ID - R1D7154664695 | &nbsp;&nbsp;&nbsp;&nbsp;8.750 | &nbsp;&nbsp;04-01-37 | 45282 | &nbsp;&nbsp;&nbsp;&nbsp;38245 |
| Shelving Rock, Loan ID - R1D7154844109 | &nbsp;&nbsp;10.375 | &nbsp;&nbsp;02-01-27 | 170080 | &nbsp;&nbsp;&nbsp;&nbsp;143650 |
| Shelving Rock, Loan ID - R1D7155064828 | &nbsp;&nbsp;&nbsp;&nbsp;2.000 | &nbsp;&nbsp;01-01-32 | 11389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9620 |
| Shelving Rock, Loan ID - R1D7155104113 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.500 | &nbsp;&nbsp;02-01-25 | 77406 | &nbsp;&nbsp;&nbsp;&nbsp;65378 |
| Shelving Rock, Loan ID - R1D7155528458 | &nbsp;&nbsp;&nbsp;&nbsp;9.500 | &nbsp;&nbsp;01-01-32 | 27608 | &nbsp;&nbsp;&nbsp;&nbsp;23318 |
| Shelving Rock, Loan ID - R1D7156105663 | &nbsp;&nbsp;&nbsp;&nbsp;8.250 | &nbsp;&nbsp;01-01-29 | 43941 | &nbsp;&nbsp;&nbsp;&nbsp;37113 |
| Shelving Rock, Loan ID - R1D7156530174 | &nbsp;&nbsp;&nbsp;&nbsp;7.250 | &nbsp;&nbsp;04-01-28 | 88935 | &nbsp;&nbsp;&nbsp;&nbsp;75114 |
| Shelving Rock, Loan ID - R1D7157215669 | &nbsp;&nbsp;&nbsp;&nbsp;6.500 | &nbsp;&nbsp;02-29-44 | 7504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6338 |
| Shelving Rock, Loan ID - R1D7157308823 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;03-01-29 | 75081 | &nbsp;&nbsp;&nbsp;&nbsp;63413 |
| Shelving Rock, Loan ID - R1D7158076955 | &nbsp;&nbsp;11.250 | &nbsp;&nbsp;03-01-32 | 139147 | &nbsp;&nbsp;&nbsp;&nbsp;117523 |
| Shelving Rock, Loan ID - R1D7158284666 | &nbsp;&nbsp;&nbsp;&nbsp;8.250 | &nbsp;&nbsp;03-31-28 | 50258 | &nbsp;&nbsp;&nbsp;&nbsp;42448 |
| Shelving Rock, Loan ID - R1D7159142975 | &nbsp;&nbsp;&nbsp;&nbsp;8.875 | &nbsp;&nbsp;05-01-37 | 25912 | &nbsp;&nbsp;&nbsp;&nbsp;21886 |
| Shelving Rock, Loan ID - R1D7190028 | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;01-01-35 | 163214 | &nbsp;&nbsp;&nbsp;&nbsp;137850 |
| Shelving Rock, Loan ID - R1D728102939 | &nbsp;&nbsp;&nbsp;&nbsp;7.250 | &nbsp;&nbsp;04-01-26 | 71065 | &nbsp;&nbsp;&nbsp;&nbsp;60022 |
| Shelving Rock, Loan ID - R1D7358309 | &nbsp;&nbsp;&nbsp;&nbsp;6.375 | &nbsp;&nbsp;08-01-43 | 73523 | &nbsp;&nbsp;&nbsp;&nbsp;62098 |
| Shelving Rock, Loan ID - R1D7358890 (L) | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | &nbsp;&nbsp;12-01-29 | 190224 | &nbsp;&nbsp;&nbsp;&nbsp;160663 |
| Shelving Rock, Loan ID - R1D7371699 | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | &nbsp;&nbsp;05-01-32 | 152385 | &nbsp;&nbsp;&nbsp;&nbsp;128704 |

---

23 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| Shelving Rock, Loan ID - R1D7372448 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;05-01-37 | 244913 | &nbsp;&nbsp;$206853 |
| Shelving Rock, Loan ID - R1D7379247 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;10-01-29 | 64078 | &nbsp;&nbsp;&nbsp;&nbsp;54120 |
| Shelving Rock, Loan ID - R1D7403476 | &nbsp;&nbsp;&nbsp;&nbsp;7.750 | &nbsp;&nbsp;10-01-35 | 19307 | &nbsp;&nbsp;&nbsp;&nbsp;16306 |
| Shelving Rock, Loan ID - R1D7501299 | &nbsp;&nbsp;10.125 | &nbsp;&nbsp;04-01-26 | 35612 | &nbsp;&nbsp;&nbsp;&nbsp;30078 |
| Shelving Rock, Loan ID - R1D7501374 | &nbsp;&nbsp;&nbsp;&nbsp;9.500 | &nbsp;&nbsp;10-01-26 | 44502 | &nbsp;&nbsp;&nbsp;&nbsp;37586 |
| Shelving Rock, Loan ID - R1D7612362392 (L) | &nbsp;&nbsp;&nbsp;&nbsp;7.325 | &nbsp;&nbsp;08-01-25 | 75201 | &nbsp;&nbsp;&nbsp;&nbsp;63515 |
| Shelving Rock, Loan ID - R1D7612363572 | &nbsp;&nbsp;10.000 | &nbsp;&nbsp;08-01-36 | 11262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9512 |
| Shelving Rock, Loan ID - R1D7612563619 | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;12-01-25 | 35394 | &nbsp;&nbsp;&nbsp;&nbsp;29894 |
| Shelving Rock, Loan ID - R1D7612687814 (L) | &nbsp;&nbsp;&nbsp;&nbsp;7.625 | &nbsp;&nbsp;05-01-27 | 92988 | &nbsp;&nbsp;&nbsp;&nbsp;78538 |
| Shelving Rock, Loan ID - R1D7612782771 | &nbsp;&nbsp;12.250 | &nbsp;&nbsp;09-01-28 | 6591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5567 |
| Shelving Rock, Loan ID - R1D7612791616 | &nbsp;&nbsp;&nbsp;&nbsp;6.490 | &nbsp;&nbsp;12-01-36 | 136354 | &nbsp;&nbsp;&nbsp;&nbsp;115165 |
| Shelving Rock, Loan ID - R1D7612795344 | &nbsp;&nbsp;&nbsp;&nbsp;6.250 | &nbsp;&nbsp;11-01-27 | 53865 | &nbsp;&nbsp;&nbsp;&nbsp;45494 |
| Shelving Rock, Loan ID - R1D7612815027 | &nbsp;&nbsp;&nbsp;&nbsp;8.312 | &nbsp;&nbsp;01-01-37 | 53727 | &nbsp;&nbsp;&nbsp;&nbsp;45378 |
| Shelving Rock, Loan ID - R1D7612822130 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;02-01-28 | 42449 | &nbsp;&nbsp;&nbsp;&nbsp;35853 |
| Shelving Rock, Loan ID - R1D7612838599 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;05-01-26 | 77400 | &nbsp;&nbsp;&nbsp;&nbsp;65372 |
| Shelving Rock, Loan ID - R1D7612845552 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;12-01-26 | 54645 | &nbsp;&nbsp;&nbsp;&nbsp;46153 |
| Shelving Rock, Loan ID - R1D7612870923 | &nbsp;&nbsp;&nbsp;&nbsp;9.625 | &nbsp;&nbsp;06-01-33 | 33804 | &nbsp;&nbsp;&nbsp;&nbsp;28551 |
| Shelving Rock, Loan ID - R1D7612900092 (L) | &nbsp;&nbsp;&nbsp;&nbsp;9.625 | &nbsp;&nbsp;08-01-25 | 14263 | &nbsp;&nbsp;&nbsp;&nbsp;12046 |
| Shelving Rock, Loan ID - R1D7612916767 (K) | &nbsp;&nbsp;&nbsp;&nbsp;5.500 | &nbsp;&nbsp;12-01-24 | 142802 | &nbsp;&nbsp;&nbsp;&nbsp;120611 |
| Shelving Rock, Loan ID - R1D7612930362 | &nbsp;&nbsp;&nbsp;&nbsp;6.750 | &nbsp;&nbsp;12-01-28 | 95280 | &nbsp;&nbsp;&nbsp;&nbsp;80473 |
| Shelving Rock, Loan ID - R1D7612930867 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;03-01-29 | 98392 | &nbsp;&nbsp;&nbsp;&nbsp;83102 |
| Shelving Rock, Loan ID - R1D7612934083 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;12-01-31 | 36976 | &nbsp;&nbsp;&nbsp;&nbsp;31230 |
| Shelving Rock, Loan ID - R1D7612935650 | &nbsp;&nbsp;&nbsp;&nbsp;8.375 | &nbsp;&nbsp;01-01-29 | 88475 | &nbsp;&nbsp;&nbsp;&nbsp;74726 |
| Shelving Rock, Loan ID - R1D7612946632 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;04-01-26 | 97148 | &nbsp;&nbsp;&nbsp;&nbsp;82051 |
| Shelving Rock, Loan ID - R1D7612968586 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;05-01-25 | 68107 | &nbsp;&nbsp;&nbsp;&nbsp;57524 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 24

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| Shelving Rock, Loan ID - R1D7612982157 | &nbsp;&nbsp;9.125 | &nbsp;&nbsp;12-01-31 | 17058 | &nbsp;&nbsp;$14407 |
| Shelving Rock, Loan ID - R1D7612984567 | &nbsp;&nbsp;5.375 | &nbsp;&nbsp;01-01-32 | 67356 | &nbsp;&nbsp;&nbsp;&nbsp;56889 |
| Shelving Rock, Loan ID - R1D7612987016 (L) | &nbsp;&nbsp;8.750 | &nbsp;&nbsp;07-01-25 | 71694 | &nbsp;&nbsp;&nbsp;&nbsp;60553 |
| Shelving Rock, Loan ID - R1D7612987701 | &nbsp;&nbsp;5.250 | &nbsp;&nbsp;01-01-32 | 37132 | &nbsp;&nbsp;&nbsp;&nbsp;31361 |
| Shelving Rock, Loan ID - R1D7612987966 | &nbsp;&nbsp;6.250 | &nbsp;&nbsp;08-01-26 | 55008 | &nbsp;&nbsp;&nbsp;&nbsp;46460 |
| Shelving Rock, Loan ID - R1D7612994574 | &nbsp;&nbsp;7.875 | &nbsp;&nbsp;12-01-31 | 45311 | &nbsp;&nbsp;&nbsp;&nbsp;38270 |
| Shelving Rock, Loan ID - R1D7613006691 | &nbsp;&nbsp;7.500 | &nbsp;&nbsp;05-01-27 | 59472 | &nbsp;&nbsp;&nbsp;&nbsp;50230 |
| Shelving Rock, Loan ID - R1D7613024009 | &nbsp;&nbsp;7.500 | &nbsp;&nbsp;01-01-32 | 56069 | &nbsp;&nbsp;&nbsp;&nbsp;47356 |
| Shelving Rock, Loan ID - R1D7613033455 | &nbsp;&nbsp;8.375 | &nbsp;&nbsp;09-01-26 | 42185 | &nbsp;&nbsp;&nbsp;&nbsp;35629 |
| Shelving Rock, Loan ID - R1D7613048636 | &nbsp;&nbsp;8.000 | &nbsp;&nbsp;06-01-30 | 38320 | &nbsp;&nbsp;&nbsp;&nbsp;32365 |
| Shelving Rock, Loan ID - R1D7613050301 | &nbsp;&nbsp;8.000 | &nbsp;&nbsp;04-01-29 | 21542 | &nbsp;&nbsp;&nbsp;&nbsp;18194 |
| Shelving Rock, Loan ID - R1D7613070523 | &nbsp;&nbsp;6.000 | &nbsp;&nbsp;02-01-30 | 71178 | &nbsp;&nbsp;&nbsp;&nbsp;60117 |
| Shelving Rock, Loan ID - R1D7613081298 | &nbsp;&nbsp;8.375 | &nbsp;&nbsp;01-01-28 | 41546 | &nbsp;&nbsp;&nbsp;&nbsp;35090 |
| Shelving Rock, Loan ID - R1D7613115377 | &nbsp;&nbsp;9.125 | &nbsp;&nbsp;03-01-32 | 5863 | &nbsp;&nbsp;&nbsp;&nbsp;4952 |
| Shelving Rock, Loan ID - R1D7613121615 | &nbsp;&nbsp;7.000 | &nbsp;&nbsp;09-01-29 | 173336 | &nbsp;&nbsp;146399 |
| Shelving Rock, Loan ID - R1D7613166206 (L) | &nbsp;&nbsp;8.000 | &nbsp;&nbsp;08-01-25 | 19692 | &nbsp;&nbsp;&nbsp;&nbsp;16632 |
| Shelving Rock, Loan ID - R1D7613170885 (L) | &nbsp;&nbsp;7.000 | &nbsp;&nbsp;04-01-25 | 55924 | &nbsp;&nbsp;&nbsp;&nbsp;47233 |
| Shelving Rock, Loan ID - R1D7613171974 | &nbsp;&nbsp;9.250 | &nbsp;&nbsp;04-01-37 | 41550 | &nbsp;&nbsp;&nbsp;&nbsp;35093 |
| Shelving Rock, Loan ID - R1D7613181106 | &nbsp;&nbsp;8.000 | &nbsp;&nbsp;05-01-37 | 9412 | &nbsp;&nbsp;&nbsp;&nbsp;7950 |
| Shelving Rock, Loan ID - R1D7613184407 | &nbsp;&nbsp;8.625 | &nbsp;&nbsp;03-01-35 | 24775 | &nbsp;&nbsp;&nbsp;&nbsp;20925 |
| Shelving Rock, Loan ID - R1D7613190008 (L) | &nbsp;&nbsp;8.500 | &nbsp;&nbsp;05-01-25 | 75279 | &nbsp;&nbsp;&nbsp;&nbsp;63580 |
| Shelving Rock, Loan ID - R1D7613190438 | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;01-01-27 | 109976 | &nbsp;&nbsp;&nbsp;&nbsp;92886 |
| Shelving Rock, Loan ID - R1D7613192491 | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;03-01-29 | 45057 | &nbsp;&nbsp;&nbsp;&nbsp;38055 |
| Shelving Rock, Loan ID - R1D7613201664 | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;04-01-32 | 48172 | &nbsp;&nbsp;&nbsp;&nbsp;40686 |
| Shelving Rock, Loan ID - R1D7613204593 | &nbsp;&nbsp;6.000 | &nbsp;&nbsp;02-01-27 | 113017 | &nbsp;&nbsp;&nbsp;&nbsp;95454 |

---

25 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| Shelving Rock, Loan ID - R1D7614380152 | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | &nbsp;&nbsp;06-01-27 | 125685 | &nbsp;&nbsp;$106154 |
| Shelving Rock, Loan ID - R1D7616147567 | &nbsp;&nbsp;11.900 | &nbsp;&nbsp;05-01-29 | 65429 | &nbsp;&nbsp;&nbsp;&nbsp;55261 |
| Shelving Rock, Loan ID - R1D7618434583 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;02-01-30 | 75568 | &nbsp;&nbsp;&nbsp;&nbsp;63825 |
| Shelving Rock, Loan ID - R1D7618446017 | &nbsp;&nbsp;&nbsp;&nbsp;9.375 | &nbsp;&nbsp;12-01-31 | 15506 | &nbsp;&nbsp;&nbsp;&nbsp;13096 |
| Shelving Rock, Loan ID - R1D7618446488 | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;12-01-28 | 108993 | &nbsp;&nbsp;&nbsp;&nbsp;92055 |
| Shelving Rock, Loan ID - R1D7618452353 | &nbsp;&nbsp;&nbsp;&nbsp;9.875 | &nbsp;&nbsp;03-01-27 | 39011 | &nbsp;&nbsp;&nbsp;&nbsp;32949 |
| Shelving Rock, Loan ID - R1D76865188 (L) | &nbsp;&nbsp;11.725 | &nbsp;&nbsp;05-01-25 | 60887 | &nbsp;&nbsp;&nbsp;&nbsp;51426 |
| Shelving Rock, Loan ID - R1D772832781 | &nbsp;&nbsp;&nbsp;&nbsp;6.750 | &nbsp;&nbsp;04-01-28 | 15955 | &nbsp;&nbsp;&nbsp;&nbsp;13476 |
| Shelving Rock, Loan ID - R1D789786346 | &nbsp;&nbsp;&nbsp;&nbsp;7.750 | &nbsp;&nbsp;01-01-29 | 161654 | &nbsp;&nbsp;&nbsp;&nbsp;136533 |
| Shelving Rock, Loan ID - R1D789806906 | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;08-01-32 | 197028 | &nbsp;&nbsp;&nbsp;&nbsp;166409 |
| Shelving Rock, Loan ID - R1D789909929 | &nbsp;&nbsp;&nbsp;&nbsp;7.375 | &nbsp;&nbsp;12-01-27 | 57320 | &nbsp;&nbsp;&nbsp;&nbsp;48412 |
| Shelving Rock, Loan ID - R1D789914746 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;12-01-27 | 31051 | &nbsp;&nbsp;&nbsp;&nbsp;26226 |
| Shelving Rock, Loan ID - R1D789919476 (L) | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;09-01-25 | 83157 | &nbsp;&nbsp;&nbsp;&nbsp;70234 |
| Shelving Rock, Loan ID - R1D789919657 (L) | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;02-01-27 | 232226 | &nbsp;&nbsp;&nbsp;&nbsp;196138 |
| Shelving Rock, Loan ID - R1D789931830 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;02-01-32 | 63559 | &nbsp;&nbsp;&nbsp;&nbsp;53682 |
| Shelving Rock, Loan ID - R1D789987287 | &nbsp;&nbsp;&nbsp;&nbsp;8.125 | &nbsp;&nbsp;03-01-37 | 34476 | &nbsp;&nbsp;&nbsp;&nbsp;29118 |
| Shelving Rock, Loan ID - R1D789996254 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;05-01-29 | 65437 | &nbsp;&nbsp;&nbsp;&nbsp;55268 |
| Shelving Rock, Loan ID - R1D789997444 | &nbsp;&nbsp;10.325 | &nbsp;&nbsp;09-01-26 | 51066 | &nbsp;&nbsp;&nbsp;&nbsp;43130 |
| Shelving Rock, Loan ID - R1D91004717785 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;05-01-29 | 139723 | &nbsp;&nbsp;&nbsp;&nbsp;106259 |
| Shelving Rock, Loan ID - R1D91004729618 (L) | &nbsp;&nbsp;&nbsp;&nbsp;4.500 | &nbsp;&nbsp;01-01-37 | 21652 | &nbsp;&nbsp;&nbsp;&nbsp;16466 |
| Shelving Rock, Loan ID - R1D91004736151 | &nbsp;&nbsp;&nbsp;&nbsp;3.500 | &nbsp;&nbsp;12-01-36 | 87373 | &nbsp;&nbsp;&nbsp;&nbsp;66447 |
| Shelving Rock, Loan ID - R1D91005327572 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;09-01-29 | 95853 | &nbsp;&nbsp;&nbsp;&nbsp;72896 |
| Shelving Rock, Loan ID - R1D91005337038 | &nbsp;&nbsp;&nbsp;&nbsp;6.500 | &nbsp;&nbsp;11-01-29 | 126902 | &nbsp;&nbsp;&nbsp;&nbsp;96509 |
| Shelving Rock, Loan ID - R1D91084131 | &nbsp;&nbsp;&nbsp;&nbsp;6.500 | &nbsp;&nbsp;03-01-26 | 50190 | &nbsp;&nbsp;&nbsp;&nbsp;38169 |
| Shelving Rock, Loan ID - R1D912791 (L) | &nbsp;&nbsp;&nbsp;&nbsp;9.375 | &nbsp;&nbsp;12-01-27 | 71854 | &nbsp;&nbsp;&nbsp;&nbsp;54645 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 26

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| Shelving Rock, Loan ID - R1D9131159016 | &nbsp;&nbsp;&nbsp;&nbsp;9.990 | &nbsp;&nbsp;12-01-26 | 79504 | &nbsp;&nbsp;$60462 |
| Shelving Rock, Loan ID - R1D9131945755 | &nbsp;&nbsp;12.125 | &nbsp;&nbsp;04-01-29 | 48378 | &nbsp;&nbsp;&nbsp;&nbsp;36792 |
| Shelving Rock, Loan ID - R1D9141942568 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;01-01-28 | 80182 | &nbsp;&nbsp;&nbsp;&nbsp;60978 |
| Shelving Rock, Loan ID - R1D9142583663 | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;01-01-50 | 45263 | &nbsp;&nbsp;&nbsp;&nbsp;34423 |
| Shelving Rock, Loan ID - R1D9146661473 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;12-01-36 | 87088 | &nbsp;&nbsp;&nbsp;&nbsp;66230 |
| Shelving Rock, Loan ID - R1D9146948925 | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;10-01-27 | 196729 | &nbsp;&nbsp;149612 |
| Shelving Rock, Loan ID - R1D9147577076 | &nbsp;&nbsp;&nbsp;&nbsp;7.990 | &nbsp;&nbsp;04-01-26 | 74510 | &nbsp;&nbsp;&nbsp;&nbsp;56665 |
| Shelving Rock, Loan ID - R1D9148123833 (L) | &nbsp;&nbsp;10.400 | &nbsp;&nbsp;08-01-25 | 50787 | &nbsp;&nbsp;&nbsp;&nbsp;38624 |
| Shelving Rock, Loan ID - R1D9148506475 | &nbsp;&nbsp;&nbsp;&nbsp;2.000 | &nbsp;&nbsp;02-01-42 | 66864 | &nbsp;&nbsp;&nbsp;&nbsp;50850 |
| Shelving Rock, Loan ID - R1D9148600650 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;02-01-42 | 41875 | &nbsp;&nbsp;&nbsp;&nbsp;31846 |
| Shelving Rock, Loan ID - R1D9150222640 | &nbsp;&nbsp;&nbsp;&nbsp;9.250 | &nbsp;&nbsp;08-01-29 | 65205 | &nbsp;&nbsp;&nbsp;&nbsp;49589 |
| Shelving Rock, Loan ID - R1D9155752270 | &nbsp;&nbsp;&nbsp;&nbsp;7.125 | &nbsp;&nbsp;07-01-28 | 83028 | &nbsp;&nbsp;&nbsp;&nbsp;63143 |
| Shelving Rock, Loan ID - R1D9155934430 | &nbsp;&nbsp;&nbsp;&nbsp;9.375 | &nbsp;&nbsp;04-01-30 | 40900 | &nbsp;&nbsp;&nbsp;&nbsp;31104 |
| Shelving Rock, Loan ID - R1D9156031844 (L) | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;02-01-32 | 37601 | &nbsp;&nbsp;&nbsp;&nbsp;28596 |
| Shelving Rock, Loan ID - R1D9157715050 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;03-01-42 | 23929 | &nbsp;&nbsp;&nbsp;&nbsp;18198 |
| Shelving Rock, Loan ID - R1D9158148327 (L) | &nbsp;&nbsp;&nbsp;&nbsp;8.375 | &nbsp;&nbsp;08-01-28 | 57428 | &nbsp;&nbsp;&nbsp;&nbsp;43674 |
| Shelving Rock, Loan ID - R1D9158148855 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;04-01-29 | 129604 | &nbsp;&nbsp;&nbsp;&nbsp;98564 |
| Shelving Rock, Loan ID - R1D9158767452 (L) | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;04-01-37 | 68069 | &nbsp;&nbsp;&nbsp;&nbsp;51767 |
| Shelving Rock, Loan ID - R1D9158789377 | &nbsp;&nbsp;&nbsp;&nbsp;9.250 | &nbsp;&nbsp;03-01-29 | 33734 | &nbsp;&nbsp;&nbsp;&nbsp;25655 |
| Shelving Rock, Loan ID - R1D9158991614 | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;06-01-41 | 54439 | &nbsp;&nbsp;&nbsp;&nbsp;41401 |
| Shelving Rock, Loan ID - R1D9200612828 | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | &nbsp;&nbsp;03-01-29 | 96122 | &nbsp;&nbsp;&nbsp;&nbsp;73101 |
| Shelving Rock, Loan ID - R1D9241924992 | &nbsp;&nbsp;10.610 | &nbsp;&nbsp;09-01-27 | 73142 | &nbsp;&nbsp;&nbsp;&nbsp;55624 |
| Shelving Rock, Loan ID - R1D9249324178 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;08-01-36 | 54212 | &nbsp;&nbsp;&nbsp;&nbsp;41228 |
| Shelving Rock, Loan ID - R1D9284407970 | &nbsp;&nbsp;11.000 | &nbsp;&nbsp;11-01-35 | 6478 | &nbsp;&nbsp;&nbsp;&nbsp;4927 |
| Shelving Rock, Loan ID - R1D9284906034 (L) | &nbsp;&nbsp;&nbsp;&nbsp;9.450 | &nbsp;&nbsp;09-01-35 | 22080 | &nbsp;&nbsp;&nbsp;&nbsp;16792 |

---

27 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| Shelving Rock, Loan ID - R1D930560148 (L) | &nbsp;&nbsp;&nbsp;&nbsp;4.830 | &nbsp;&nbsp;09-01-28 | 102662 | &nbsp;&nbsp;$78074 |
| Shelving Rock, Loan ID - R1D9310904 (L) | &nbsp;&nbsp;&nbsp;&nbsp;7.600 | &nbsp;&nbsp;01-01-29 | 89537 | &nbsp;&nbsp;&nbsp;&nbsp;68093 |
| Shelving Rock, Loan ID - R1D9371864 | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | &nbsp;&nbsp;11-01-29 | 54075 | &nbsp;&nbsp;&nbsp;&nbsp;41124 |
| Shelving Rock, Loan ID - R1D9372093 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;01-01-34 | 55829 | &nbsp;&nbsp;&nbsp;&nbsp;42458 |
| Shelving Rock, Loan ID - R1D9379972 | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;12-01-36 | 130741 | &nbsp;&nbsp;&nbsp;&nbsp;99428 |
| Shelving Rock, Loan ID - R1D9400157 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;10-01-31 | 27862 | &nbsp;&nbsp;&nbsp;&nbsp;21189 |
| Shelving Rock, Loan ID - R1D9500145 (L) | &nbsp;&nbsp;&nbsp;&nbsp;6.975 | &nbsp;&nbsp;07-01-41 | 134433 | &nbsp;&nbsp;102236 |
| Shelving Rock, Loan ID - R1D9610225724 (L) | &nbsp;&nbsp;12.300 | &nbsp;&nbsp;05-01-27 | 78904 | &nbsp;&nbsp;&nbsp;&nbsp;60007 |
| Shelving Rock, Loan ID - R1D9612072348 | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;05-01-31 | 18853 | &nbsp;&nbsp;&nbsp;&nbsp;14338 |
| Shelving Rock, Loan ID - R1D9612761841 (L) | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;09-01-28 | 58924 | &nbsp;&nbsp;&nbsp;&nbsp;44812 |
| Shelving Rock, Loan ID - R1D9612799072 | &nbsp;&nbsp;&nbsp;&nbsp;9.500 | &nbsp;&nbsp;12-01-36 | 31537 | &nbsp;&nbsp;&nbsp;&nbsp;23984 |
| Shelving Rock, Loan ID - R1D9612818088 | &nbsp;&nbsp;&nbsp;&nbsp;9.125 | &nbsp;&nbsp;02-01-32 | 78177 | &nbsp;&nbsp;&nbsp;&nbsp;59453 |
| Shelving Rock, Loan ID - R1D9612840629 (L) | &nbsp;&nbsp;&nbsp;&nbsp;8.063 | &nbsp;&nbsp;06-01-30 | 67302 | &nbsp;&nbsp;&nbsp;&nbsp;51183 |
| Shelving Rock, Loan ID - R1D9612844068 (L) | &nbsp;&nbsp;&nbsp;&nbsp;6.250 | &nbsp;&nbsp;08-01-29 | 136000 | &nbsp;&nbsp;103428 |
| Shelving Rock, Loan ID - R1D9612943639 | &nbsp;&nbsp;&nbsp;&nbsp;8.250 | &nbsp;&nbsp;02-01-27 | 59083 | &nbsp;&nbsp;&nbsp;&nbsp;44933 |
| Shelving Rock, Loan ID - R1D9612960286 (L) | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;06-01-45 | 35765 | &nbsp;&nbsp;&nbsp;&nbsp;27199 |
| Shelving Rock, Loan ID - R1D9612970285 | &nbsp;&nbsp;&nbsp;&nbsp;9.375 | &nbsp;&nbsp;06-01-33 | 17208 | &nbsp;&nbsp;&nbsp;&nbsp;13087 |
| Shelving Rock, Loan ID - R1D9612980318 | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;06-01-31 | 4610 | &nbsp;&nbsp;&nbsp;&nbsp;3506 |
| Shelving Rock, Loan ID - R1D9612999292 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.500 | &nbsp;&nbsp;02-01-27 | 427296 | &nbsp;&nbsp;324959 |
| Shelving Rock, Loan ID - R1D9612999375 | &nbsp;&nbsp;10.125 | &nbsp;&nbsp;09-01-29 | 23984 | &nbsp;&nbsp;&nbsp;&nbsp;18240 |
| Shelving Rock, Loan ID - R1D9613041136 | &nbsp;&nbsp;10.250 | &nbsp;&nbsp;01-01-32 | 39111 | &nbsp;&nbsp;&nbsp;&nbsp;29744 |
| Shelving Rock, Loan ID - R1D9613052844 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;02-01-32 | 37170 | &nbsp;&nbsp;&nbsp;&nbsp;28268 |
| Shelving Rock, Loan ID - R1D9613067354 | &nbsp;&nbsp;&nbsp;&nbsp;9.125 | &nbsp;&nbsp;03-01-27 | 8868 | &nbsp;&nbsp;&nbsp;&nbsp;6744 |
| Shelving Rock, Loan ID - R1D9613089978 | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;02-01-31 | 16160 | &nbsp;&nbsp;&nbsp;&nbsp;12290 |
| Shelving Rock, Loan ID - R1D9613099894 | &nbsp;&nbsp;&nbsp;&nbsp;7.875 | &nbsp;&nbsp;11-01-29 | 74900 | &nbsp;&nbsp;&nbsp;&nbsp;56961 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 28

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** | **JH Residential Whole Loan Trust (continued)** |  |
| Shelving Rock, Loan ID - R1D9613107093 (L) | &nbsp;&nbsp;&nbsp;&nbsp;6.750 | &nbsp;&nbsp;03-01-28 | 109278 | &nbsp;&nbsp;$83106 |
| Shelving Rock, Loan ID - R1D9613127596 | &nbsp;&nbsp;&nbsp;&nbsp;8.875 | &nbsp;&nbsp;03-01-26 | 18257 | &nbsp;&nbsp;&nbsp;&nbsp;13884 |
| Shelving Rock, Loan ID - R1D9613142967 | &nbsp;&nbsp;10.125 | &nbsp;&nbsp;05-01-29 | 13829 | &nbsp;&nbsp;&nbsp;&nbsp;10517 |
| Shelving Rock, Loan ID - R1D9613176767 | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;04-01-34 | 28947 | &nbsp;&nbsp;&nbsp;&nbsp;22014 |
| Shelving Rock, Loan ID - R1D9613184639 (L) | &nbsp;&nbsp;&nbsp;&nbsp;8.875 | &nbsp;&nbsp;03-01-27 | 47975 | &nbsp;&nbsp;&nbsp;&nbsp;36485 |
| Shelving Rock, Loan ID - R1D9613207661 | &nbsp;&nbsp;&nbsp;&nbsp;8.500 | &nbsp;&nbsp;04-01-32 | 55030 | &nbsp;&nbsp;&nbsp;&nbsp;41850 |
| Shelving Rock, Loan ID - R1D9614389724 | &nbsp;&nbsp;&nbsp;&nbsp;6.250 | &nbsp;&nbsp;11-01-29 | 167062 | &nbsp;&nbsp;127051 |
| Shelving Rock, Loan ID - R1D9615372729 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;09-01-28 | 71774 | &nbsp;&nbsp;&nbsp;&nbsp;54584 |
| Shelving Rock, Loan ID - R1D9616148953 | &nbsp;&nbsp;&nbsp;&nbsp;6.850 | &nbsp;&nbsp;04-01-26 | 135110 | &nbsp;&nbsp;102751 |
| Shelving Rock, Loan ID - R1D9616189072 (L) | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;11-01-36 | 61327 | &nbsp;&nbsp;&nbsp;&nbsp;46639 |
| Shelving Rock, Loan ID - R1D9617588413 | &nbsp;&nbsp;&nbsp;&nbsp;6.500 | &nbsp;&nbsp;09-01-28 | 180088 | &nbsp;&nbsp;136957 |
| Shelving Rock, Loan ID - R1D9617704952 (L) | &nbsp;&nbsp;&nbsp;&nbsp;9.250 | &nbsp;&nbsp;05-01-29 | 40580 | &nbsp;&nbsp;&nbsp;&nbsp;30861 |
| Shelving Rock, Loan ID - R1D9617982608 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;06-01-29 | 147957 | &nbsp;&nbsp;112521 |
| Shelving Rock, Loan ID - R1D9618205744 (L) | &nbsp;&nbsp;&nbsp;&nbsp;7.823 | &nbsp;&nbsp;03-01-31 | 36705 | &nbsp;&nbsp;&nbsp;&nbsp;27914 |
| Shelving Rock, Loan ID - R1D9618442362 | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | &nbsp;&nbsp;12-01-36 | 57721 | &nbsp;&nbsp;&nbsp;&nbsp;43897 |
| Shelving Rock, Loan ID - R1D9618448088 | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | &nbsp;&nbsp;02-01-28 | 27610 | &nbsp;&nbsp;&nbsp;&nbsp;20997 |
| Shelving Rock, Loan ID - R1D9618449102 | &nbsp;&nbsp;&nbsp;&nbsp;7.750 | &nbsp;&nbsp;05-01-29 | 66003 | &nbsp;&nbsp;&nbsp;&nbsp;50195 |
| Shelving Rock, Loan ID - R1D9618450936 | &nbsp;&nbsp;&nbsp;&nbsp;6.250 | &nbsp;&nbsp;06-01-29 | 88612 | &nbsp;&nbsp;&nbsp;&nbsp;67389 |
| Shelving Rock, Loan ID - R1D9618452650 (L) | &nbsp;&nbsp;&nbsp;&nbsp;6.875 | &nbsp;&nbsp;05-01-25 | 141023 | &nbsp;&nbsp;107248 |
| Shelving Rock, Loan ID - R1D9618455380 (L) | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;06-01-25 | 109963 | &nbsp;&nbsp;&nbsp;&nbsp;83627 |
| Shelving Rock, Loan ID - R1D989786385 | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | &nbsp;&nbsp;09-01-27 | 132583 | &nbsp;&nbsp;100829 |
| Shelving Rock, Loan ID - R1D989786394 | &nbsp;&nbsp;&nbsp;&nbsp;8.750 | &nbsp;&nbsp;11-01-29 | 54413 | &nbsp;&nbsp;&nbsp;&nbsp;41381 |
| Shelving Rock, Loan ID - R1D989906775 | &nbsp;&nbsp;11.250 | &nbsp;&nbsp;07-01-26 | 7468 | &nbsp;&nbsp;&nbsp;&nbsp;5680 |
| Shelving Rock, Loan ID - R1D989925469 | &nbsp;&nbsp;&nbsp;&nbsp;0.000 | &nbsp;&nbsp;11-01-30 | 19207 | &nbsp;&nbsp;&nbsp;&nbsp;14607 |
| Shelving Rock, Loan ID - R1D989993682 | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | &nbsp;&nbsp;02-01-31 | 28210 | &nbsp;&nbsp;&nbsp;&nbsp;21454 |

---

29 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Residential Whole Loan Trust II (G)(I) 0.0%** | **JH Residential Whole Loan Trust II (G)(I) 0.0%** | **JH Residential Whole Loan Trust II (G)(I) 0.0%** | **JH Residential Whole Loan Trust II (G)(I) 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$104240 |
| Achieve, Loan ID - R21032974202 | &nbsp;&nbsp;15.250 | &nbsp;&nbsp;10-01-33 | 38406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39270 |
| Achieve, Loan ID - R21034913863 | &nbsp;&nbsp;13.750 | &nbsp;&nbsp;05-01-34 | 63540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64970 |
| **Term loans (M) 11.8%** |  |  |  | &nbsp;&nbsp;**$29605546** |
| (Cost $29,476,071) |  |  |  |  |
| **Commercial real estate lending 11.8%** | **Commercial real estate lending 11.8%** | **Commercial real estate lending 11.8%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**29605546** |
| Clairemont Drive LLC, Term Loan (1 month CME Term SOFR + 7.000%) (G) | &nbsp;&nbsp;11.623 | &nbsp;&nbsp;03-11-26 | 4555584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4539639 |
| Genprov Holdco LLC, Term Loan (1 month CME Term SOFR + 4.900%) (G) | &nbsp;&nbsp;&nbsp;&nbsp;9.775 | &nbsp;&nbsp;08-11-26 | 4914630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4927408 |
| MCR Newark Airport LLC, Term Loan (1 month CME Term SOFR + 6.250%) (G) | &nbsp;&nbsp;11.000 | &nbsp;&nbsp;04-11-27 | 4617939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4636410 |
| Stevens Creek Boulevard, Term Loan (1 month CME Term SOFR + 5.800%) (G) | &nbsp;&nbsp;10.623 | &nbsp;&nbsp;07-11-26 | 4732080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4731134 |
| Verena at Gilbert, Delayed Draw Term Loan (1 month CME Term SOFR + 5.000%) (G) | &nbsp;&nbsp;&nbsp;&nbsp;9.623 | &nbsp;&nbsp;01-11-27 | 4766143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4747555 |
| Verena at Hillard, Term Loan (1 month CME Term SOFR + 5.350%) (G) | &nbsp;&nbsp;&nbsp;&nbsp;9.973 | &nbsp;&nbsp;04-11-27 | 6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6023400 |
| **Consumer-related assets 9.8%** |  |  |  | &nbsp;&nbsp;**$24636863** |
| (Cost $24,308,762) |  |  |  |  |
| **Consumer loans 9.8%** |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**24636863** |
| ACHV ABS Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3PL, Class R (A)(G)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-19-30 | &nbsp;&nbsp;&nbsp;&nbsp;2637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225451 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1PL, Class E (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;04-26-32 | &nbsp;&nbsp;&nbsp;&nbsp;960399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947148 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1PL, Class CERT (A)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;03-18-30 | &nbsp;&nbsp;&nbsp;&nbsp;37848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2645359 |
| Avant Loans Funding Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-REV1, Class E (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;09-15-31 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3017691 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-REV1, Class D (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;05-15-34 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3058166 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-REV1, Class C (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10-15-33 | &nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787856 |
| Best Egg Asset Structured Pass Through Master Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-A, Class CERT (A)(G)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;01-15-35 | &nbsp;&nbsp;&nbsp;&nbsp;3003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399325 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-C, Class CERT (A)(G)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;03-15-35 | &nbsp;&nbsp;&nbsp;&nbsp;3003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339106 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-B, Class CERT (A)(G)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02-15-35 | &nbsp;&nbsp;&nbsp;&nbsp;3003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561147 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-D, Class CERT (A)(G)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;04-15-35 | &nbsp;&nbsp;&nbsp;&nbsp;3003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604911 |
| Credit Suisse ABS Repackaging Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2013-A, Class R1 (A)(G)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;04-25-43 | &nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1584602 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 30

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **Consumer loans (continued)** |  |  |  |  |
| Freedom Financial ABS Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3FP, Class CERT (A)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-20-29 | &nbsp;&nbsp;&nbsp;&nbsp;23900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2496907 |
| GreenSky Home Improvement Issuer Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class E (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;06-25-60 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013077 |
| Mosaic Solar Loan Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-2GS, Class R IO (A)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02-22-44 | &nbsp;&nbsp;&nbsp;&nbsp;19131000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2896778 |
| Santander Drive Auto Receivables Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-S1, Class CERT (A)(G)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;04-18-28 | &nbsp;&nbsp;&nbsp;&nbsp;11500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3059339 |
| **Consumer loans 2.1%** |  |  |  | &nbsp;&nbsp;**$5257729** |
| (Cost $5,444,378) |  |  |  |  |
| **JH Consumer Loan Trust (G)(I) 2.1%** | **JH Consumer Loan Trust (G)(I) 2.1%** | **JH Consumer Loan Trust (G)(I) 2.1%** | **JH Consumer Loan Trust (G)(I) 2.1%** | &nbsp;&nbsp;&nbsp;&nbsp;5257729 |
| Achieve, Loan ID - C18648251 | &nbsp;&nbsp;20.990 | &nbsp;&nbsp;12-14-26 | 11793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11369 |
| Achieve, Loan ID - C22902472 | &nbsp;&nbsp;16.740 | &nbsp;&nbsp;12-10-26 | 16349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15762 |
| Achieve, Loan ID - C23253984 | &nbsp;&nbsp;14.990 | &nbsp;&nbsp;01-15-26 | 3579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3451 |
| Achieve, Loan ID - C23300084 | &nbsp;&nbsp;16.490 | &nbsp;&nbsp;01-25-27 | 9816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9464 |
| Achieve, Loan ID - C23301086 | &nbsp;&nbsp;21.740 | &nbsp;&nbsp;02-13-28 | 15316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14766 |
| Achieve, Loan ID - C23500788 | &nbsp;&nbsp;&nbsp;&nbsp;8.490 | &nbsp;&nbsp;01-15-28 | 6883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6635 |
| Achieve, Loan ID - C23511393 | &nbsp;&nbsp;25.490 | &nbsp;&nbsp;01-20-26 | 725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;699 |
| Achieve, Loan ID - C23885575 | &nbsp;&nbsp;13.740 | &nbsp;&nbsp;01-24-27 | 9478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9138 |
| Achieve, Loan ID - C23902626 | &nbsp;&nbsp;23.990 | &nbsp;&nbsp;01-23-28 | 15371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14819 |
| Achieve, Loan ID - C23957226 | &nbsp;&nbsp;22.240 | &nbsp;&nbsp;12-11-25 | 4515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4353 |
| Achieve, Loan ID - C23964782 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;12-10-27 | 27416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26432 |
| Achieve, Loan ID - C23966505 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;02-25-28 | 13930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13430 |
| Achieve, Loan ID - C23988868 | &nbsp;&nbsp;21.740 | &nbsp;&nbsp;12-10-27 | 13405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12924 |
| Achieve, Loan ID - C23992646 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;01-15-28 | 7450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7182 |
| Achieve, Loan ID - C23992707 | &nbsp;&nbsp;21.990 | &nbsp;&nbsp;12-04-27 | 28645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27617 |
| Achieve, Loan ID - C23993537 | &nbsp;&nbsp;22.990 | &nbsp;&nbsp;12-16-26 | 16754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16153 |
| Achieve, Loan ID - C24002565 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;12-10-27 | 6469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6237 |
| Achieve, Loan ID - C24003540 | &nbsp;&nbsp;23.990 | &nbsp;&nbsp;01-25-26 | 1437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1385 |
| Achieve, Loan ID - C24095448 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;02-25-28 | 13396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12915 |
| Achieve, Loan ID - C24100561 | &nbsp;&nbsp;26.740 | &nbsp;&nbsp;12-14-27 | 6613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6376 |
| Achieve, Loan ID - C24118254 | &nbsp;&nbsp;16.240 | &nbsp;&nbsp;01-25-28 | 12921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12457 |
| Achieve, Loan ID - C24119783 | &nbsp;&nbsp;26.740 | &nbsp;&nbsp;01-20-28 | 10581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10201 |
| Achieve, Loan ID - C24160824 | &nbsp;&nbsp;21.490 | &nbsp;&nbsp;01-26-28 | 9222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8891 |
| Achieve, Loan ID - C24173305 | &nbsp;&nbsp;21.490 | &nbsp;&nbsp;01-15-27 | 4390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4233 |
| Achieve, Loan ID - C24178392 | &nbsp;&nbsp;14.240 | &nbsp;&nbsp;01-26-28 | 15282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14733 |
| Achieve, Loan ID - C24219111 | &nbsp;&nbsp;13.740 | &nbsp;&nbsp;12-14-26 | 18943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18263 |
| Achieve, Loan ID - C24228404 | &nbsp;&nbsp;19.740 | &nbsp;&nbsp;01-27-27 | 13225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12750 |
| Achieve, Loan ID - C24234040 | &nbsp;&nbsp;15.490 | &nbsp;&nbsp;01-27-28 | 11634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11216 |
| Achieve, Loan ID - C24250851 | &nbsp;&nbsp;&nbsp;&nbsp;9.240 | &nbsp;&nbsp;01-20-26 | 2440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2353 |
| Achieve, Loan ID - C24281913 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;02-29-28 | 24626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23742 |
| Achieve, Loan ID - C24284884 | &nbsp;&nbsp;26.240 | &nbsp;&nbsp;01-20-28 | 9227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8895 |

---

31 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** |  |
| Achieve, Loan ID - C24328234 | &nbsp;&nbsp;24.240 | &nbsp;&nbsp;01-29-28 | 24602 | &nbsp;&nbsp;$23719 |
| Achieve, Loan ID - C24332351 | &nbsp;&nbsp;26.490 | &nbsp;&nbsp;01-29-27 | 33978 | &nbsp;&nbsp;&nbsp;&nbsp;32758 |
| Achieve, Loan ID - C24361791 (J) | &nbsp;&nbsp;25.740 | &nbsp;&nbsp;02-29-28 | 27490 | &nbsp;&nbsp;&nbsp;&nbsp;26503 |
| Achieve, Loan ID - C24702290 | &nbsp;&nbsp;25.490 | &nbsp;&nbsp;12-24-27 | 5449 | &nbsp;&nbsp;&nbsp;&nbsp;5253 |
| Achieve, Loan ID - C24708215 | &nbsp;&nbsp;17.740 | &nbsp;&nbsp;02-03-27 | 8914 | &nbsp;&nbsp;&nbsp;&nbsp;8594 |
| Achieve, Loan ID - C24770901 | &nbsp;&nbsp;18.990 | &nbsp;&nbsp;12-25-26 | 10063 | &nbsp;&nbsp;&nbsp;&nbsp;9701 |
| Achieve, Loan ID - C24783767 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;03-09-28 | 3632 | &nbsp;&nbsp;&nbsp;&nbsp;3502 |
| Achieve, Loan ID - C24785164 | &nbsp;&nbsp;20.740 | &nbsp;&nbsp;12-25-27 | 10306 | &nbsp;&nbsp;&nbsp;&nbsp;9936 |
| Achieve, Loan ID - C24786979 (J) | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;03-09-28 | 22780 | &nbsp;&nbsp;&nbsp;&nbsp;21962 |
| Achieve, Loan ID - C24808124 | &nbsp;&nbsp;23.490 | &nbsp;&nbsp;02-13-28 | 15053 | &nbsp;&nbsp;&nbsp;&nbsp;14513 |
| Achieve, Loan ID - C24808507 | &nbsp;&nbsp;18.990 | &nbsp;&nbsp;02-02-26 | 4470 | &nbsp;&nbsp;&nbsp;&nbsp;4310 |
| Achieve, Loan ID - C24838632 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;03-11-28 | 12537 | &nbsp;&nbsp;&nbsp;&nbsp;12087 |
| Achieve, Loan ID - C24842245 | &nbsp;&nbsp;&nbsp;&nbsp;9.240 | &nbsp;&nbsp;12-26-27 | 6539 | &nbsp;&nbsp;&nbsp;&nbsp;6304 |
| Achieve, Loan ID - C24891649 | &nbsp;&nbsp;23.490 | &nbsp;&nbsp;02-01-27 | 24233 | &nbsp;&nbsp;&nbsp;&nbsp;23363 |
| Achieve, Loan ID - C24929161 | &nbsp;&nbsp;25.740 | &nbsp;&nbsp;03-12-28 | 12962 | &nbsp;&nbsp;&nbsp;&nbsp;12497 |
| Achieve, Loan ID - C24931645 | &nbsp;&nbsp;21.240 | &nbsp;&nbsp;12-30-27 | 2662 | &nbsp;&nbsp;&nbsp;&nbsp;2566 |
| Achieve, Loan ID - C24941009 | &nbsp;&nbsp;20.240 | &nbsp;&nbsp;02-13-27 | 6065 | &nbsp;&nbsp;&nbsp;&nbsp;5847 |
| Achieve, Loan ID - C24941466 | &nbsp;&nbsp;26.490 | &nbsp;&nbsp;12-30-26 | 2406 | &nbsp;&nbsp;&nbsp;&nbsp;2320 |
| Achieve, Loan ID - C31322342 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;06-14-28 | 7874 | &nbsp;&nbsp;&nbsp;&nbsp;7591 |
| Achieve, Loan ID - C31323216 (K) | &nbsp;&nbsp;&nbsp;&nbsp;5.990 | &nbsp;&nbsp;04-30-25 | 515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497 |
| Achieve, Loan ID - C31355554 | &nbsp;&nbsp;24.740 | &nbsp;&nbsp;06-16-28 | 7782 | &nbsp;&nbsp;&nbsp;&nbsp;7502 |
| Achieve, Loan ID - C31358659 | &nbsp;&nbsp;20.740 | &nbsp;&nbsp;06-12-28 | 6886 | &nbsp;&nbsp;&nbsp;&nbsp;6638 |
| Achieve, Loan ID - C31359319 | &nbsp;&nbsp;21.740 | &nbsp;&nbsp;06-12-28 | 6991 | &nbsp;&nbsp;&nbsp;&nbsp;6740 |
| Achieve, Loan ID - C31363408 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;06-15-28 | 24787 | &nbsp;&nbsp;&nbsp;&nbsp;23898 |
| Achieve, Loan ID - C31368567 | &nbsp;&nbsp;16.990 | &nbsp;&nbsp;06-20-28 | 32008 | &nbsp;&nbsp;&nbsp;&nbsp;30859 |
| Achieve, Loan ID - C31369376 | &nbsp;&nbsp;19.240 | &nbsp;&nbsp;06-13-28 | 2683 | &nbsp;&nbsp;&nbsp;&nbsp;2587 |
| Achieve, Loan ID - C31370479 | &nbsp;&nbsp;16.490 | &nbsp;&nbsp;06-22-26 | 13653 | &nbsp;&nbsp;&nbsp;&nbsp;13163 |
| Achieve, Loan ID - C31375823 | &nbsp;&nbsp;24.240 | &nbsp;&nbsp;06-18-27 | 9693 | &nbsp;&nbsp;&nbsp;&nbsp;9345 |
| Achieve, Loan ID - C31376581 | &nbsp;&nbsp;18.990 | &nbsp;&nbsp;06-23-28 | 7959 | &nbsp;&nbsp;&nbsp;&nbsp;7674 |
| Achieve, Loan ID - C31384566 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;07-26-28 | 18046 | &nbsp;&nbsp;&nbsp;&nbsp;17398 |
| Achieve, Loan ID - C31386911 | &nbsp;&nbsp;21.990 | &nbsp;&nbsp;06-16-28 | 24661 | &nbsp;&nbsp;&nbsp;&nbsp;23775 |
| Achieve, Loan ID - C31388466 | &nbsp;&nbsp;20.490 | &nbsp;&nbsp;06-13-28 | 9820 | &nbsp;&nbsp;&nbsp;&nbsp;9468 |
| Achieve, Loan ID - C31388907 | &nbsp;&nbsp;20.740 | &nbsp;&nbsp;06-16-27 | 19541 | &nbsp;&nbsp;&nbsp;&nbsp;18840 |
| Achieve, Loan ID - C31389230 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;06-16-28 | 2107 | &nbsp;&nbsp;&nbsp;&nbsp;2031 |
| Achieve, Loan ID - C31389544 | &nbsp;&nbsp;18.240 | &nbsp;&nbsp;06-15-26 | 18399 | &nbsp;&nbsp;&nbsp;&nbsp;17739 |
| Achieve, Loan ID - C31390921 | &nbsp;&nbsp;22.490 | &nbsp;&nbsp;06-13-27 | 2623 | &nbsp;&nbsp;&nbsp;&nbsp;2529 |
| Achieve, Loan ID - C31391521 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;06-14-28 | 6307 | &nbsp;&nbsp;&nbsp;&nbsp;6080 |
| Achieve, Loan ID - C31392604 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;06-13-28 | 6896 | &nbsp;&nbsp;&nbsp;&nbsp;6648 |
| Achieve, Loan ID - C31393020 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;07-27-28 | 4929 | &nbsp;&nbsp;&nbsp;&nbsp;4752 |
| Achieve, Loan ID - C31394748 | &nbsp;&nbsp;23.990 | &nbsp;&nbsp;06-29-27 | 6418 | &nbsp;&nbsp;&nbsp;&nbsp;6188 |
| Achieve, Loan ID - C31395045 | &nbsp;&nbsp;22.990 | &nbsp;&nbsp;05-01-28 | 8636 | &nbsp;&nbsp;&nbsp;&nbsp;8326 |
| Achieve, Loan ID - C31395796 | &nbsp;&nbsp;24.240 | &nbsp;&nbsp;07-30-28 | 11435 | &nbsp;&nbsp;&nbsp;&nbsp;11025 |
| Achieve, Loan ID - C31396148 | &nbsp;&nbsp;21.740 | &nbsp;&nbsp;06-30-28 | 16852 | &nbsp;&nbsp;&nbsp;&nbsp;16247 |
| Achieve, Loan ID - C31396302 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;07-26-28 | 7773 | &nbsp;&nbsp;&nbsp;&nbsp;7494 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 32

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** |  |
| Achieve, Loan ID - C31396322 | &nbsp;&nbsp;25.240 | &nbsp;&nbsp;07-27-28 | 5821 | &nbsp;&nbsp;$5613 |
| Achieve, Loan ID - C31396534 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;07-29-28 | 10644 | &nbsp;&nbsp;10262 |
| Achieve, Loan ID - C31397404 | &nbsp;&nbsp;20.740 | &nbsp;&nbsp;06-24-26 | 7527 | &nbsp;&nbsp;&nbsp;&nbsp;7257 |
| Achieve, Loan ID - C31399171 | &nbsp;&nbsp;22.990 | &nbsp;&nbsp;06-29-28 | 21756 | &nbsp;&nbsp;20975 |
| Achieve, Loan ID - C31402076 | &nbsp;&nbsp;24.240 | &nbsp;&nbsp;06-27-26 | 8953 | &nbsp;&nbsp;&nbsp;&nbsp;8632 |
| Achieve, Loan ID - C31404074 | &nbsp;&nbsp;14.740 | &nbsp;&nbsp;06-25-27 | 7850 | &nbsp;&nbsp;&nbsp;&nbsp;7568 |
| Achieve, Loan ID - C31405619 | &nbsp;&nbsp;23.740 | &nbsp;&nbsp;06-16-28 | 6757 | &nbsp;&nbsp;&nbsp;&nbsp;6515 |
| Achieve, Loan ID - C31407785 | &nbsp;&nbsp;19.990 | &nbsp;&nbsp;06-25-26 | 4512 | &nbsp;&nbsp;&nbsp;&nbsp;4350 |
| Achieve, Loan ID - C31416188 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;06-20-28 | 14440 | &nbsp;&nbsp;13922 |
| Achieve, Loan ID - C31421074 | &nbsp;&nbsp;22.740 | &nbsp;&nbsp;06-23-27 | 11430 | &nbsp;&nbsp;11019 |
| Achieve, Loan ID - C31424651 | &nbsp;&nbsp;26.990 | &nbsp;&nbsp;06-14-28 | 6909 | &nbsp;&nbsp;&nbsp;&nbsp;6661 |
| Achieve, Loan ID - C31433338 | &nbsp;&nbsp;16.490 | &nbsp;&nbsp;06-16-26 | 12259 | &nbsp;&nbsp;11819 |
| Achieve, Loan ID - C31439606 | &nbsp;&nbsp;18.990 | &nbsp;&nbsp;06-16-27 | 11630 | &nbsp;&nbsp;11212 |
| Achieve, Loan ID - C31440568 | &nbsp;&nbsp;19.990 | &nbsp;&nbsp;06-15-28 | 12173 | &nbsp;&nbsp;11736 |
| Achieve, Loan ID - C31446756 | &nbsp;&nbsp;18.990 | &nbsp;&nbsp;06-29-27 | 7815 | &nbsp;&nbsp;&nbsp;&nbsp;7535 |
| Achieve, Loan ID - C31454028 (J) | &nbsp;&nbsp;22.990 | &nbsp;&nbsp;06-29-28 | 25436 | &nbsp;&nbsp;24523 |
| Achieve, Loan ID - C32811890 | &nbsp;&nbsp;18.740 | &nbsp;&nbsp;11-21-27 | 26886 | &nbsp;&nbsp;25921 |
| Achieve, Loan ID - C34505079 (J) | &nbsp;&nbsp;18.990 | &nbsp;&nbsp;11-20-28 | 15668 | &nbsp;&nbsp;15105 |
| Achieve, Loan ID - C34505570 | &nbsp;&nbsp;17.240 | &nbsp;&nbsp;11-17-26 | 5136 | &nbsp;&nbsp;&nbsp;&nbsp;4952 |
| Achieve, Loan ID - C34651006 | &nbsp;&nbsp;25.240 | &nbsp;&nbsp;10-06-27 | 6537 | &nbsp;&nbsp;&nbsp;&nbsp;6302 |
| Achieve, Loan ID - C34722397 | &nbsp;&nbsp;13.990 | &nbsp;&nbsp;11-20-27 | 8026 | &nbsp;&nbsp;&nbsp;&nbsp;7738 |
| Achieve, Loan ID - C34739349 | &nbsp;&nbsp;25.990 | &nbsp;&nbsp;12-19-28 | 5129 | &nbsp;&nbsp;&nbsp;&nbsp;4945 |
| Achieve, Loan ID - C34763286 | &nbsp;&nbsp;14.490 | &nbsp;&nbsp;11-20-26 | 8976 | &nbsp;&nbsp;&nbsp;&nbsp;8654 |
| Achieve, Loan ID - C34778675 | &nbsp;&nbsp;19.990 | &nbsp;&nbsp;10-06-27 | 12546 | &nbsp;&nbsp;12096 |
| Achieve, Loan ID - C34779142 | &nbsp;&nbsp;19.740 | &nbsp;&nbsp;11-08-25 | 591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569 |
| Achieve, Loan ID - C34779309 | &nbsp;&nbsp;21.240 | &nbsp;&nbsp;11-21-27 | 9723 | &nbsp;&nbsp;&nbsp;&nbsp;9374 |
| Achieve, Loan ID - C34779394 | &nbsp;&nbsp;&nbsp;&nbsp;5.990 | &nbsp;&nbsp;11-10-25 | 446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 |
| Achieve, Loan ID - C34780323 (K) | &nbsp;&nbsp;&nbsp;&nbsp;5.990 | &nbsp;&nbsp;10-01-25 | 427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412 |
| Achieve, Loan ID - C34822398 | &nbsp;&nbsp;21.240 | &nbsp;&nbsp;11-17-27 | 9528 | &nbsp;&nbsp;&nbsp;&nbsp;9186 |
| Achieve, Loan ID - C34859657 | &nbsp;&nbsp;25.990 | &nbsp;&nbsp;11-18-28 | 18025 | &nbsp;&nbsp;17378 |
| Achieve, Loan ID - C34868243 | &nbsp;&nbsp;24.490 | &nbsp;&nbsp;12-20-28 | 17996 | &nbsp;&nbsp;17350 |
| Achieve, Loan ID - C34873664 | &nbsp;&nbsp;25.990 | &nbsp;&nbsp;12-20-28 | 14907 | &nbsp;&nbsp;14372 |
| Achieve, Loan ID - C34895842 | &nbsp;&nbsp;14.240 | &nbsp;&nbsp;10-06-26 | 5621 | &nbsp;&nbsp;&nbsp;&nbsp;5419 |
| Achieve, Loan ID - C34903520 | &nbsp;&nbsp;25.990 | &nbsp;&nbsp;11-07-28 | 12598 | &nbsp;&nbsp;12146 |
| Achieve, Loan ID - C34903753 | &nbsp;&nbsp;13.990 | &nbsp;&nbsp;11-10-28 | 27862 | &nbsp;&nbsp;26861 |
| Achieve, Loan ID - C34905741 | &nbsp;&nbsp;25.990 | &nbsp;&nbsp;12-19-28 | 12918 | &nbsp;&nbsp;12454 |
| Achieve, Loan ID - C34910473 | &nbsp;&nbsp;24.240 | &nbsp;&nbsp;11-20-26 | 13722 | &nbsp;&nbsp;13229 |
| Achieve, Loan ID - C34917068 | &nbsp;&nbsp;20.240 | &nbsp;&nbsp;11-15-27 | 25652 | &nbsp;&nbsp;24731 |
| Achieve, Loan ID - C34918363 | &nbsp;&nbsp;&nbsp;&nbsp;5.990 | &nbsp;&nbsp;11-15-25 | 41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 |
| Achieve, Loan ID - C34921910 (J) | &nbsp;&nbsp;&nbsp;&nbsp;5.990 | &nbsp;&nbsp;11-07-25 | 1575 | &nbsp;&nbsp;&nbsp;&nbsp;1519 |
| Achieve, Loan ID - C34924262 | &nbsp;&nbsp;24.490 | &nbsp;&nbsp;11-10-27 | 10318 | &nbsp;&nbsp;&nbsp;&nbsp;9948 |
| Achieve, Loan ID - C34925650 | &nbsp;&nbsp;21.240 | &nbsp;&nbsp;11-21-28 | 14877 | &nbsp;&nbsp;14343 |
| Arivo, Loan ID - C1378970 (J) | &nbsp;&nbsp;18.980 | &nbsp;&nbsp;05-22-29 | 32968 | &nbsp;&nbsp;33067 |
| Arivo, Loan ID - C1380541 | &nbsp;&nbsp;21.950 | &nbsp;&nbsp;05-22-29 | 35105 | &nbsp;&nbsp;35210 |

---

33 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** |  |
| Arivo, Loan ID - C1381078 | &nbsp;&nbsp;21.260 | &nbsp;&nbsp;05-27-29 | 21425 | &nbsp;&nbsp;$21490 |
| Arivo, Loan ID - C1381533 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-13-29 | 17965 | &nbsp;&nbsp;&nbsp;&nbsp;18019 |
| Arivo, Loan ID - C1381923 | &nbsp;&nbsp;20.150 | &nbsp;&nbsp;05-23-29 | 18083 | &nbsp;&nbsp;&nbsp;&nbsp;18137 |
| Arivo, Loan ID - C1382501 | &nbsp;&nbsp;20.570 | &nbsp;&nbsp;04-30-29 | 15734 | &nbsp;&nbsp;&nbsp;&nbsp;15781 |
| Arivo, Loan ID - C1383648 | &nbsp;&nbsp;22.830 | &nbsp;&nbsp;11-12-27 | 19670 | &nbsp;&nbsp;&nbsp;&nbsp;19729 |
| Arivo, Loan ID - C1384317 | &nbsp;&nbsp;20.550 | &nbsp;&nbsp;05-18-29 | 22791 | &nbsp;&nbsp;&nbsp;&nbsp;22860 |
| Arivo, Loan ID - C1384529 | &nbsp;&nbsp;22.200 | &nbsp;&nbsp;05-30-29 | 23655 | &nbsp;&nbsp;&nbsp;&nbsp;23726 |
| Arivo, Loan ID - C1385054 | &nbsp;&nbsp;16.820 | &nbsp;&nbsp;05-18-29 | 23531 | &nbsp;&nbsp;&nbsp;&nbsp;23602 |
| Arivo, Loan ID - C1385469 | &nbsp;&nbsp;22.990 | &nbsp;&nbsp;11-19-28 | 11683 | &nbsp;&nbsp;&nbsp;&nbsp;11718 |
| Arivo, Loan ID - C1385521 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;11-19-27 | 30201 | &nbsp;&nbsp;&nbsp;&nbsp;30292 |
| Arivo, Loan ID - C1385526 | &nbsp;&nbsp;20.570 | &nbsp;&nbsp;05-30-29 | 20852 | &nbsp;&nbsp;&nbsp;&nbsp;20915 |
| Arivo, Loan ID - C1385540 | &nbsp;&nbsp;13.340 | &nbsp;&nbsp;05-19-29 | 29232 | &nbsp;&nbsp;&nbsp;&nbsp;29320 |
| Arivo, Loan ID - C1385548 | &nbsp;&nbsp;14.700 | &nbsp;&nbsp;05-04-29 | 31224 | &nbsp;&nbsp;&nbsp;&nbsp;31317 |
| Arivo, Loan ID - C1385661 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;05-21-29 | 32900 | &nbsp;&nbsp;&nbsp;&nbsp;32999 |
| Arivo, Loan ID - C1385838 | &nbsp;&nbsp;17.850 | &nbsp;&nbsp;05-29-29 | 22241 | &nbsp;&nbsp;&nbsp;&nbsp;22307 |
| Arivo, Loan ID - C1386089 | &nbsp;&nbsp;20.200 | &nbsp;&nbsp;05-22-29 | 16846 | &nbsp;&nbsp;&nbsp;&nbsp;16897 |
| Arivo, Loan ID - C1386584 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;05-21-29 | 16602 | &nbsp;&nbsp;&nbsp;&nbsp;16652 |
| Arivo, Loan ID - C1386680 | &nbsp;&nbsp;17.000 | &nbsp;&nbsp;05-21-29 | 790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792 |
| Arivo, Loan ID - C1386731 | &nbsp;&nbsp;13.450 | &nbsp;&nbsp;05-23-29 | 23006 | &nbsp;&nbsp;&nbsp;&nbsp;23075 |
| Arivo, Loan ID - C1387295 | &nbsp;&nbsp;18.890 | &nbsp;&nbsp;05-22-29 | 24481 | &nbsp;&nbsp;&nbsp;&nbsp;24554 |
| Arivo, Loan ID - C1387393 | &nbsp;&nbsp;16.860 | &nbsp;&nbsp;05-25-29 | 28131 | &nbsp;&nbsp;&nbsp;&nbsp;28216 |
| Arivo, Loan ID - C1387501 | &nbsp;&nbsp;18.900 | &nbsp;&nbsp;05-22-29 | 10552 | &nbsp;&nbsp;&nbsp;&nbsp;10584 |
| Arivo, Loan ID - C1387732 | &nbsp;&nbsp;20.660 | &nbsp;&nbsp;05-23-29 | 21150 | &nbsp;&nbsp;&nbsp;&nbsp;21214 |
| Arivo, Loan ID - C1387765 | &nbsp;&nbsp;22.560 | &nbsp;&nbsp;05-23-29 | 18805 | &nbsp;&nbsp;&nbsp;&nbsp;18862 |
| Arivo, Loan ID - C1387802 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-22-29 | 16124 | &nbsp;&nbsp;&nbsp;&nbsp;16173 |
| Arivo, Loan ID - C1387840 | &nbsp;&nbsp;20.110 | &nbsp;&nbsp;05-22-29 | 21207 | &nbsp;&nbsp;&nbsp;&nbsp;21271 |
| Arivo, Loan ID - C1387867 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;05-25-29 | 23016 | &nbsp;&nbsp;&nbsp;&nbsp;23085 |
| Arivo, Loan ID - C1388209 | &nbsp;&nbsp;16.370 | &nbsp;&nbsp;05-23-29 | 4478 | &nbsp;&nbsp;&nbsp;&nbsp;4491 |
| Arivo, Loan ID - C1388265 | &nbsp;&nbsp;20.410 | &nbsp;&nbsp;05-23-29 | 17233 | &nbsp;&nbsp;&nbsp;&nbsp;17285 |
| Arivo, Loan ID - C1388383 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-23-29 | 16919 | &nbsp;&nbsp;&nbsp;&nbsp;16970 |
| Arivo, Loan ID - C1388406 | &nbsp;&nbsp;16.500 | &nbsp;&nbsp;05-23-29 | 7776 | &nbsp;&nbsp;&nbsp;&nbsp;7799 |
| Arivo, Loan ID - C1388509 | &nbsp;&nbsp;21.260 | &nbsp;&nbsp;05-25-29 | 24511 | &nbsp;&nbsp;&nbsp;&nbsp;24584 |
| Arivo, Loan ID - C1388512 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-23-29 | 19926 | &nbsp;&nbsp;&nbsp;&nbsp;19986 |
| Arivo, Loan ID - C1388696 | &nbsp;&nbsp;19.230 | &nbsp;&nbsp;05-12-29 | 22290 | &nbsp;&nbsp;&nbsp;&nbsp;22356 |
| Arivo, Loan ID - C1388855 | &nbsp;&nbsp;22.900 | &nbsp;&nbsp;05-15-29 | 19571 | &nbsp;&nbsp;&nbsp;&nbsp;19630 |
| Arivo, Loan ID - C1388993 | &nbsp;&nbsp;18.210 | &nbsp;&nbsp;05-23-29 | 26000 | &nbsp;&nbsp;&nbsp;&nbsp;26078 |
| Arivo, Loan ID - C1389039 | &nbsp;&nbsp;18.710 | &nbsp;&nbsp;05-09-29 | 30644 | &nbsp;&nbsp;&nbsp;&nbsp;30736 |
| Arivo, Loan ID - C1389201 | &nbsp;&nbsp;14.610 | &nbsp;&nbsp;05-14-29 | 29799 | &nbsp;&nbsp;&nbsp;&nbsp;29888 |
| Arivo, Loan ID - C1389271 | &nbsp;&nbsp;21.880 | &nbsp;&nbsp;06-01-29 | 19805 | &nbsp;&nbsp;&nbsp;&nbsp;19865 |
| Arivo, Loan ID - C1389338 | &nbsp;&nbsp;20.350 | &nbsp;&nbsp;05-25-29 | 26850 | &nbsp;&nbsp;&nbsp;&nbsp;26931 |
| Arivo, Loan ID - C1389425 | &nbsp;&nbsp;16.390 | &nbsp;&nbsp;06-01-29 | 23163 | &nbsp;&nbsp;&nbsp;&nbsp;23232 |
| Arivo, Loan ID - C1389469 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;05-25-29 | 20631 | &nbsp;&nbsp;&nbsp;&nbsp;20692 |
| Arivo, Loan ID - C1389502 | &nbsp;&nbsp;19.740 | &nbsp;&nbsp;05-28-29 | 23775 | &nbsp;&nbsp;&nbsp;&nbsp;23846 |
| Arivo, Loan ID - C1389530 | &nbsp;&nbsp;20.130 | &nbsp;&nbsp;05-26-29 | 18508 | &nbsp;&nbsp;&nbsp;&nbsp;18564 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 34

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** |  |
| Arivo, Loan ID - C1389587 | &nbsp;&nbsp;13.740 | &nbsp;&nbsp;05-25-29 | 31516 | &nbsp;&nbsp;$31610 |
| Arivo, Loan ID - C1389712 | &nbsp;&nbsp;22.080 | &nbsp;&nbsp;05-25-29 | 9913 | &nbsp;&nbsp;&nbsp;&nbsp;9942 |
| Arivo, Loan ID - C1389869 | &nbsp;&nbsp;17.250 | &nbsp;&nbsp;11-25-27 | 9398 | &nbsp;&nbsp;&nbsp;&nbsp;9427 |
| Arivo, Loan ID - C1389972 (J) | &nbsp;&nbsp;15.580 | &nbsp;&nbsp;05-26-29 | 8227 | &nbsp;&nbsp;&nbsp;&nbsp;8252 |
| Arivo, Loan ID - C1390027 | &nbsp;&nbsp;17.150 | &nbsp;&nbsp;05-23-29 | 21860 | &nbsp;&nbsp;&nbsp;&nbsp;21925 |
| Arivo, Loan ID - C1390140 | &nbsp;&nbsp;21.880 | &nbsp;&nbsp;05-26-29 | 14076 | &nbsp;&nbsp;&nbsp;&nbsp;14118 |
| Arivo, Loan ID - C1390165 | &nbsp;&nbsp;20.080 | &nbsp;&nbsp;05-26-29 | 19811 | &nbsp;&nbsp;&nbsp;&nbsp;19871 |
| Arivo, Loan ID - C1390258 | &nbsp;&nbsp;20.500 | &nbsp;&nbsp;05-11-29 | 15829 | &nbsp;&nbsp;&nbsp;&nbsp;15876 |
| Arivo, Loan ID - C1390345 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;11-26-27 | 20165 | &nbsp;&nbsp;&nbsp;&nbsp;20226 |
| Arivo, Loan ID - C1390443 | &nbsp;&nbsp;17.030 | &nbsp;&nbsp;05-26-29 | 35186 | &nbsp;&nbsp;&nbsp;&nbsp;35292 |
| Arivo, Loan ID - C1390475 | &nbsp;&nbsp;20.890 | &nbsp;&nbsp;05-26-29 | 18949 | &nbsp;&nbsp;&nbsp;&nbsp;19005 |
| Arivo, Loan ID - C1390501 | &nbsp;&nbsp;15.920 | &nbsp;&nbsp;05-26-29 | 32264 | &nbsp;&nbsp;&nbsp;&nbsp;32361 |
| Arivo, Loan ID - C1390516 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-26-29 | 38394 | &nbsp;&nbsp;&nbsp;&nbsp;38509 |
| Arivo, Loan ID - C1390630 | &nbsp;&nbsp;15.360 | &nbsp;&nbsp;05-26-29 | 17796 | &nbsp;&nbsp;&nbsp;&nbsp;17849 |
| Arivo, Loan ID - C1390640 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;05-25-29 | 23066 | &nbsp;&nbsp;&nbsp;&nbsp;23135 |
| Arivo, Loan ID - C1390700 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;05-27-29 | 21514 | &nbsp;&nbsp;&nbsp;&nbsp;21578 |
| Arivo, Loan ID - C1390709 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-27-29 | 23773 | &nbsp;&nbsp;&nbsp;&nbsp;23845 |
| Arivo, Loan ID - C1390735 | &nbsp;&nbsp;18.060 | &nbsp;&nbsp;05-13-29 | 29094 | &nbsp;&nbsp;&nbsp;&nbsp;29181 |
| Arivo, Loan ID - C1390766 | &nbsp;&nbsp;17.830 | &nbsp;&nbsp;05-27-29 | 17538 | &nbsp;&nbsp;&nbsp;&nbsp;17590 |
| Arivo, Loan ID - C1390785 | &nbsp;&nbsp;21.580 | &nbsp;&nbsp;05-29-29 | 15107 | &nbsp;&nbsp;&nbsp;&nbsp;15153 |
| Arivo, Loan ID - C1390807 | &nbsp;&nbsp;22.540 | &nbsp;&nbsp;05-27-29 | 19325 | &nbsp;&nbsp;&nbsp;&nbsp;19383 |
| Arivo, Loan ID - C1391006 | &nbsp;&nbsp;18.430 | &nbsp;&nbsp;05-27-29 | 19955 | &nbsp;&nbsp;&nbsp;&nbsp;20015 |
| Arivo, Loan ID - C1391008 | &nbsp;&nbsp;21.850 | &nbsp;&nbsp;05-27-29 | 20890 | &nbsp;&nbsp;&nbsp;&nbsp;20953 |
| Arivo, Loan ID - C1391067 | &nbsp;&nbsp;17.910 | &nbsp;&nbsp;05-27-29 | 22068 | &nbsp;&nbsp;&nbsp;&nbsp;22134 |
| Arivo, Loan ID - C1391235 | &nbsp;&nbsp;17.930 | &nbsp;&nbsp;05-30-29 | 19283 | &nbsp;&nbsp;&nbsp;&nbsp;19341 |
| Arivo, Loan ID - C1391262 | &nbsp;&nbsp;16.960 | &nbsp;&nbsp;05-27-29 | 14738 | &nbsp;&nbsp;&nbsp;&nbsp;14782 |
| Arivo, Loan ID - C1391263 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-27-29 | 28332 | &nbsp;&nbsp;&nbsp;&nbsp;28417 |
| Arivo, Loan ID - C1391280 | &nbsp;&nbsp;20.260 | &nbsp;&nbsp;05-27-29 | 19953 | &nbsp;&nbsp;&nbsp;&nbsp;20013 |
| Arivo, Loan ID - C1391342 | &nbsp;&nbsp;14.930 | &nbsp;&nbsp;05-28-29 | 15586 | &nbsp;&nbsp;&nbsp;&nbsp;15632 |
| Arivo, Loan ID - C1391427 (J) | &nbsp;&nbsp;19.880 | &nbsp;&nbsp;05-28-29 | 6722 | &nbsp;&nbsp;&nbsp;&nbsp;6742 |
| Arivo, Loan ID - C1391483 | &nbsp;&nbsp;16.470 | &nbsp;&nbsp;05-28-29 | 36247 | &nbsp;&nbsp;&nbsp;&nbsp;36356 |
| Arivo, Loan ID - C1391610 | &nbsp;&nbsp;20.570 | &nbsp;&nbsp;05-13-29 | 20812 | &nbsp;&nbsp;&nbsp;&nbsp;20875 |
| Arivo, Loan ID - C1391647 | &nbsp;&nbsp;20.570 | &nbsp;&nbsp;05-29-29 | 13702 | &nbsp;&nbsp;&nbsp;&nbsp;13743 |
| Arivo, Loan ID - C1391652 | &nbsp;&nbsp;19.570 | &nbsp;&nbsp;05-25-29 | 14695 | &nbsp;&nbsp;&nbsp;&nbsp;14739 |
| Arivo, Loan ID - C1391694 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;05-28-29 | 37426 | &nbsp;&nbsp;&nbsp;&nbsp;37538 |
| Arivo, Loan ID - C1391736 (J) | &nbsp;&nbsp;16.550 | &nbsp;&nbsp;05-29-29 | 17146 | &nbsp;&nbsp;&nbsp;&nbsp;17197 |
| Arivo, Loan ID - C1391813 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;06-02-29 | 26786 | &nbsp;&nbsp;&nbsp;&nbsp;26867 |
| Arivo, Loan ID - C1391838 | &nbsp;&nbsp;22.660 | &nbsp;&nbsp;05-28-29 | 25688 | &nbsp;&nbsp;&nbsp;&nbsp;25765 |
| Arivo, Loan ID - C1392009 | &nbsp;&nbsp;16.290 | &nbsp;&nbsp;11-13-27 | 6691 | &nbsp;&nbsp;&nbsp;&nbsp;6711 |
| Arivo, Loan ID - C1392016 | &nbsp;&nbsp;20.470 | &nbsp;&nbsp;05-30-29 | 24252 | &nbsp;&nbsp;&nbsp;&nbsp;24325 |
| Arivo, Loan ID - C1392078 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-28-29 | 3692 | &nbsp;&nbsp;&nbsp;&nbsp;3703 |
| Arivo, Loan ID - C1392104 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-28-29 | 22073 | &nbsp;&nbsp;&nbsp;&nbsp;22139 |
| Arivo, Loan ID - C1392202 | &nbsp;&nbsp;16.430 | &nbsp;&nbsp;05-29-29 | 37795 | &nbsp;&nbsp;&nbsp;&nbsp;37909 |
| Arivo, Loan ID - C1392258 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-29-29 | 16020 | &nbsp;&nbsp;&nbsp;&nbsp;16068 |

---

35 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** |  |
| Arivo, Loan ID - C1392322 | &nbsp;&nbsp;20.610 | &nbsp;&nbsp;11-14-27 | 13431 | &nbsp;&nbsp;$13471 |
| Arivo, Loan ID - C1392327 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-14-29 | 24592 | &nbsp;&nbsp;&nbsp;&nbsp;24666 |
| Arivo, Loan ID - C1392364 | &nbsp;&nbsp;22.070 | &nbsp;&nbsp;05-29-29 | 21785 | &nbsp;&nbsp;&nbsp;&nbsp;21850 |
| Arivo, Loan ID - C1392401 | &nbsp;&nbsp;21.440 | &nbsp;&nbsp;05-29-29 | 19274 | &nbsp;&nbsp;&nbsp;&nbsp;19331 |
| Arivo, Loan ID - C1392420 | &nbsp;&nbsp;14.430 | &nbsp;&nbsp;11-29-27 | 19024 | &nbsp;&nbsp;&nbsp;&nbsp;19081 |
| Arivo, Loan ID - C1392421 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;05-28-29 | 22959 | &nbsp;&nbsp;&nbsp;&nbsp;23028 |
| Arivo, Loan ID - C1392514 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;05-29-29 | 19541 | &nbsp;&nbsp;&nbsp;&nbsp;19599 |
| Arivo, Loan ID - C1392527 | &nbsp;&nbsp;14.780 | &nbsp;&nbsp;05-29-29 | 38201 | &nbsp;&nbsp;&nbsp;&nbsp;38316 |
| Arivo, Loan ID - C1392568 | &nbsp;&nbsp;14.740 | &nbsp;&nbsp;05-29-29 | 17849 | &nbsp;&nbsp;&nbsp;&nbsp;17903 |
| Arivo, Loan ID - C1392580 | &nbsp;&nbsp;14.420 | &nbsp;&nbsp;05-30-29 | 22713 | &nbsp;&nbsp;&nbsp;&nbsp;22781 |
| Arivo, Loan ID - C1392651 | &nbsp;&nbsp;20.270 | &nbsp;&nbsp;06-02-29 | 22552 | &nbsp;&nbsp;&nbsp;&nbsp;22620 |
| Arivo, Loan ID - C1392768 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-15-29 | 17546 | &nbsp;&nbsp;&nbsp;&nbsp;17599 |
| Arivo, Loan ID - C1392780 | &nbsp;&nbsp;24.050 | &nbsp;&nbsp;05-29-29 | 18657 | &nbsp;&nbsp;&nbsp;&nbsp;18713 |
| Arivo, Loan ID - C1392838 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-14-29 | 21987 | &nbsp;&nbsp;&nbsp;&nbsp;22053 |
| Arivo, Loan ID - C1392840 | &nbsp;&nbsp;18.140 | &nbsp;&nbsp;05-29-29 | 20966 | &nbsp;&nbsp;&nbsp;&nbsp;21029 |
| Arivo, Loan ID - C1392844 | &nbsp;&nbsp;17.970 | &nbsp;&nbsp;05-29-29 | 19706 | &nbsp;&nbsp;&nbsp;&nbsp;19765 |
| Arivo, Loan ID - C1392924 | &nbsp;&nbsp;22.500 | &nbsp;&nbsp;06-04-29 | 25482 | &nbsp;&nbsp;&nbsp;&nbsp;25558 |
| Arivo, Loan ID - C1392970 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;05-15-29 | 13680 | &nbsp;&nbsp;&nbsp;&nbsp;13721 |
| Arivo, Loan ID - C1392982 | &nbsp;&nbsp;20.060 | &nbsp;&nbsp;05-25-29 | 28914 | &nbsp;&nbsp;&nbsp;&nbsp;29001 |
| Arivo, Loan ID - C1393035 | &nbsp;&nbsp;12.830 | &nbsp;&nbsp;05-30-29 | 38483 | &nbsp;&nbsp;&nbsp;&nbsp;38598 |
| Arivo, Loan ID - C1393075 | &nbsp;&nbsp;15.310 | &nbsp;&nbsp;05-15-29 | 22107 | &nbsp;&nbsp;&nbsp;&nbsp;22173 |
| Arivo, Loan ID - C1393081 | &nbsp;&nbsp;14.660 | &nbsp;&nbsp;05-30-29 | 16375 | &nbsp;&nbsp;&nbsp;&nbsp;16424 |
| Arivo, Loan ID - C1393111 | &nbsp;&nbsp;17.560 | &nbsp;&nbsp;05-29-29 | 25560 | &nbsp;&nbsp;&nbsp;&nbsp;25637 |
| Arivo, Loan ID - C1393122 | &nbsp;&nbsp;18.260 | &nbsp;&nbsp;05-30-29 | 16651 | &nbsp;&nbsp;&nbsp;&nbsp;16701 |
| Arivo, Loan ID - C1393159 | &nbsp;&nbsp;21.090 | &nbsp;&nbsp;11-25-27 | 15131 | &nbsp;&nbsp;&nbsp;&nbsp;15176 |
| Arivo, Loan ID - C1393204 | &nbsp;&nbsp;20.560 | &nbsp;&nbsp;05-30-29 | 17920 | &nbsp;&nbsp;&nbsp;&nbsp;17974 |
| Arivo, Loan ID - C1393263 | &nbsp;&nbsp;19.710 | &nbsp;&nbsp;05-30-29 | 20594 | &nbsp;&nbsp;&nbsp;&nbsp;20656 |
| Arivo, Loan ID - C1393343 | &nbsp;&nbsp;19.960 | &nbsp;&nbsp;05-26-29 | 7205 | &nbsp;&nbsp;&nbsp;&nbsp;7227 |
| Arivo, Loan ID - C1393348 | &nbsp;&nbsp;20.300 | &nbsp;&nbsp;05-30-29 | 10836 | &nbsp;&nbsp;&nbsp;&nbsp;10868 |
| Arivo, Loan ID - C1393472 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;05-30-29 | 34520 | &nbsp;&nbsp;&nbsp;&nbsp;34624 |
| Arivo, Loan ID - C1393511 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;05-30-29 | 20790 | &nbsp;&nbsp;&nbsp;&nbsp;20852 |
| Arivo, Loan ID - C1393576 | &nbsp;&nbsp;21.540 | &nbsp;&nbsp;05-30-29 | 24082 | &nbsp;&nbsp;&nbsp;&nbsp;24154 |
| Arivo, Loan ID - C1393593 | &nbsp;&nbsp;14.460 | &nbsp;&nbsp;06-01-29 | 22144 | &nbsp;&nbsp;&nbsp;&nbsp;22211 |
| Arivo, Loan ID - C1393720 | &nbsp;&nbsp;14.520 | &nbsp;&nbsp;05-30-29 | 20019 | &nbsp;&nbsp;&nbsp;&nbsp;20079 |
| Arivo, Loan ID - C1393734 | &nbsp;&nbsp;16.870 | &nbsp;&nbsp;05-25-29 | 34636 | &nbsp;&nbsp;&nbsp;&nbsp;34740 |
| Arivo, Loan ID - C1393979 | &nbsp;&nbsp;21.130 | &nbsp;&nbsp;05-16-29 | 43679 | &nbsp;&nbsp;&nbsp;&nbsp;43807 |
| Arivo, Loan ID - C1394001 (J) | &nbsp;&nbsp;21.320 | &nbsp;&nbsp;05-30-29 | 38430 | &nbsp;&nbsp;&nbsp;&nbsp;38545 |
| Arivo, Loan ID - C1394007 | &nbsp;&nbsp;21.300 | &nbsp;&nbsp;05-30-29 | 14682 | &nbsp;&nbsp;&nbsp;&nbsp;14726 |
| Arivo, Loan ID - C1394076 | &nbsp;&nbsp;18.670 | &nbsp;&nbsp;06-01-29 | 22018 | &nbsp;&nbsp;&nbsp;&nbsp;22084 |
| Arivo, Loan ID - C1394218 | &nbsp;&nbsp;17.260 | &nbsp;&nbsp;05-17-29 | 17183 | &nbsp;&nbsp;&nbsp;&nbsp;17234 |
| Arivo, Loan ID - C1394326 | &nbsp;&nbsp;13.540 | &nbsp;&nbsp;06-01-29 | 35059 | &nbsp;&nbsp;&nbsp;&nbsp;35164 |
| Arivo, Loan ID - C1394447 | &nbsp;&nbsp;15.570 | &nbsp;&nbsp;06-01-29 | 22690 | &nbsp;&nbsp;&nbsp;&nbsp;22758 |
| Arivo, Loan ID - C1394484 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;06-01-29 | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;14042 |
| Arivo, Loan ID - C1394590 | &nbsp;&nbsp;14.710 | &nbsp;&nbsp;05-17-29 | 15689 | &nbsp;&nbsp;&nbsp;&nbsp;15736 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 36

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** |  |
| Arivo, Loan ID - C1394614 | &nbsp;&nbsp;16.820 | &nbsp;&nbsp;06-01-29 | 25451 | &nbsp;&nbsp;$25527 |
| Arivo, Loan ID - C1394691 | &nbsp;&nbsp;15.960 | &nbsp;&nbsp;06-01-29 | 25328 | &nbsp;&nbsp;&nbsp;&nbsp;25404 |
| Arivo, Loan ID - C1394761 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;06-01-29 | 20701 | &nbsp;&nbsp;&nbsp;&nbsp;20763 |
| Arivo, Loan ID - C1394975 | &nbsp;&nbsp;16.750 | &nbsp;&nbsp;05-26-29 | 18830 | &nbsp;&nbsp;&nbsp;&nbsp;18886 |
| Arivo, Loan ID - C1395036 | &nbsp;&nbsp;18.600 | &nbsp;&nbsp;05-18-29 | 26565 | &nbsp;&nbsp;&nbsp;&nbsp;26645 |
| Arivo, Loan ID - C1395055 | &nbsp;&nbsp;18.950 | &nbsp;&nbsp;06-02-29 | 31078 | &nbsp;&nbsp;&nbsp;&nbsp;31172 |
| Arivo, Loan ID - C1395098 | &nbsp;&nbsp;14.860 | &nbsp;&nbsp;06-02-29 | 36151 | &nbsp;&nbsp;&nbsp;&nbsp;36260 |
| Arivo, Loan ID - C1395177 | &nbsp;&nbsp;14.990 | &nbsp;&nbsp;06-02-29 | 26478 | &nbsp;&nbsp;&nbsp;&nbsp;26557 |
| Arivo, Loan ID - C1395182 | &nbsp;&nbsp;17.670 | &nbsp;&nbsp;06-02-29 | 12788 | &nbsp;&nbsp;&nbsp;&nbsp;12827 |
| Arivo, Loan ID - C1395239 | &nbsp;&nbsp;17.130 | &nbsp;&nbsp;05-30-29 | 24823 | &nbsp;&nbsp;&nbsp;&nbsp;24897 |
| Arivo, Loan ID - C1395328 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;05-18-29 | 24798 | &nbsp;&nbsp;&nbsp;&nbsp;24873 |
| Arivo, Loan ID - C1395338 | &nbsp;&nbsp;19.730 | &nbsp;&nbsp;06-03-29 | 26108 | &nbsp;&nbsp;&nbsp;&nbsp;26186 |
| Arivo, Loan ID - C1395472 | &nbsp;&nbsp;17.210 | &nbsp;&nbsp;06-02-29 | 28925 | &nbsp;&nbsp;&nbsp;&nbsp;29012 |
| Arivo, Loan ID - C1395484 | &nbsp;&nbsp;19.030 | &nbsp;&nbsp;05-18-29 | 18930 | &nbsp;&nbsp;&nbsp;&nbsp;18987 |
| Arivo, Loan ID - C1395714 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;06-02-29 | 19743 | &nbsp;&nbsp;&nbsp;&nbsp;19802 |
| Arivo, Loan ID - C1395914 | &nbsp;&nbsp;16.090 | &nbsp;&nbsp;06-03-29 | 10657 | &nbsp;&nbsp;&nbsp;&nbsp;10689 |
| Arivo, Loan ID - C1395983 | &nbsp;&nbsp;16.840 | &nbsp;&nbsp;06-03-29 | 19471 | &nbsp;&nbsp;&nbsp;&nbsp;19529 |
| Arivo, Loan ID - C1396446 | &nbsp;&nbsp;20.570 | &nbsp;&nbsp;06-04-29 | 21177 | &nbsp;&nbsp;&nbsp;&nbsp;21241 |
| Arivo, Loan ID - C1397113 | &nbsp;&nbsp;19.680 | &nbsp;&nbsp;06-04-29 | 28020 | &nbsp;&nbsp;&nbsp;&nbsp;28104 |
| Arivo, Loan ID - C1397185 | &nbsp;&nbsp;20.570 | &nbsp;&nbsp;06-04-29 | 15352 | &nbsp;&nbsp;&nbsp;&nbsp;15399 |
| Arivo, Loan ID - C1397666 | &nbsp;&nbsp;21.960 | &nbsp;&nbsp;06-05-29 | 21273 | &nbsp;&nbsp;&nbsp;&nbsp;21336 |
| Arivo, Loan ID - C1480324 (J) | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;09-02-29 | 29456 | &nbsp;&nbsp;&nbsp;&nbsp;29544 |
| Arivo, Loan ID - C1483188 | &nbsp;&nbsp;14.640 | &nbsp;&nbsp;09-07-29 | 35194 | &nbsp;&nbsp;&nbsp;&nbsp;35300 |
| Arivo, Loan ID - C1483586 | &nbsp;&nbsp;24.370 | &nbsp;&nbsp;09-07-29 | 27448 | &nbsp;&nbsp;&nbsp;&nbsp;27531 |
| Arivo, Loan ID - C1485900 | &nbsp;&nbsp;19.770 | &nbsp;&nbsp;09-10-29 | 20365 | &nbsp;&nbsp;&nbsp;&nbsp;20426 |
| Arivo, Loan ID - C1486798 | &nbsp;&nbsp;21.980 | &nbsp;&nbsp;09-12-29 | 16836 | &nbsp;&nbsp;&nbsp;&nbsp;16886 |
| Arivo, Loan ID - C1486827 | &nbsp;&nbsp;20.110 | &nbsp;&nbsp;03-12-28 | 6890 | &nbsp;&nbsp;&nbsp;&nbsp;6911 |
| Arivo, Loan ID - C1487273 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;09-12-29 | 27555 | &nbsp;&nbsp;&nbsp;&nbsp;27637 |
| Arivo, Loan ID - C1488090 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;09-15-29 | 18531 | &nbsp;&nbsp;&nbsp;&nbsp;18587 |
| Arivo, Loan ID - C1488149 | &nbsp;&nbsp;17.370 | &nbsp;&nbsp;09-17-29 | 37580 | &nbsp;&nbsp;&nbsp;&nbsp;37693 |
| Arivo, Loan ID - C1488570 | &nbsp;&nbsp;12.980 | &nbsp;&nbsp;09-14-29 | 5039 | &nbsp;&nbsp;&nbsp;&nbsp;5054 |
| Arivo, Loan ID - C1488990 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;09-15-29 | 28266 | &nbsp;&nbsp;&nbsp;&nbsp;28350 |
| Arivo, Loan ID - C1489048 | &nbsp;&nbsp;17.770 | &nbsp;&nbsp;08-30-29 | 24306 | &nbsp;&nbsp;&nbsp;&nbsp;24379 |
| Arivo, Loan ID - C1489582 | &nbsp;&nbsp;16.430 | &nbsp;&nbsp;09-16-29 | 16343 | &nbsp;&nbsp;&nbsp;&nbsp;16392 |
| Arivo, Loan ID - C1490051 | &nbsp;&nbsp;20.000 | &nbsp;&nbsp;09-17-29 | 28031 | &nbsp;&nbsp;&nbsp;&nbsp;28115 |
| Arivo, Loan ID - C1490515 | &nbsp;&nbsp;19.680 | &nbsp;&nbsp;09-04-29 | 23723 | &nbsp;&nbsp;&nbsp;&nbsp;23794 |
| Arivo, Loan ID - C1491219 | &nbsp;&nbsp;17.650 | &nbsp;&nbsp;09-04-29 | 33513 | &nbsp;&nbsp;&nbsp;&nbsp;33614 |
| Arivo, Loan ID - C1491340 | &nbsp;&nbsp;15.510 | &nbsp;&nbsp;09-04-29 | 22634 | &nbsp;&nbsp;&nbsp;&nbsp;22702 |
| Arivo, Loan ID - C1491409 | &nbsp;&nbsp;17.650 | &nbsp;&nbsp;09-20-29 | 23910 | &nbsp;&nbsp;&nbsp;&nbsp;23982 |
| Arivo, Loan ID - C1492310 | &nbsp;&nbsp;20.890 | &nbsp;&nbsp;09-21-29 | 26434 | &nbsp;&nbsp;&nbsp;&nbsp;26514 |
| Arivo, Loan ID - C1492454 | &nbsp;&nbsp;19.010 | &nbsp;&nbsp;09-07-29 | 21214 | &nbsp;&nbsp;&nbsp;&nbsp;21277 |
| Arivo, Loan ID - C1492664 | &nbsp;&nbsp;18.000 | &nbsp;&nbsp;09-06-29 | 17694 | &nbsp;&nbsp;&nbsp;&nbsp;17747 |
| Arivo, Loan ID - C1492950 | &nbsp;&nbsp;22.610 | &nbsp;&nbsp;09-22-29 | 22850 | &nbsp;&nbsp;&nbsp;&nbsp;22918 |
| Arivo, Loan ID - C1493370 | &nbsp;&nbsp;19.430 | &nbsp;&nbsp;09-22-29 | 26036 | &nbsp;&nbsp;&nbsp;&nbsp;26114 |

---

37 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** |  | **Par value^** | &nbsp;&nbsp;**Value** |
| **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** | **JH Consumer Loan Trust (continued)** |  |
| Arivo, Loan ID - C1493394 | &nbsp;&nbsp;24.340 | &nbsp;&nbsp;09-22-29 |  | 22202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22268 |
| Arivo, Loan ID - C1493661 | &nbsp;&nbsp;21.050 | &nbsp;&nbsp;09-23-29 |  | 31955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32051 |
| **Corporate asset-based credit 2.1%** | **Corporate asset-based credit 2.1%** | **Corporate asset-based credit 2.1%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$5154500** |
| (Cost $5,000,000) |  |  |  |  |  |
| **Materials 2.1%** |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5154500** |
| CG Finance A LP |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1, Class A (G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;06-28-28 |  | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5154500 |
| **Profit participating notes 0.7%** |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$1855909** |
| (Cost $1,525,105) |  |  |  |  |  |
| **Corporate asset-based credit 0.5%** | **Corporate asset-based credit 0.5%** | **Corporate asset-based credit 0.5%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1276545** |
| Tilapia Finance Profit Participating Notes (3 month EURIBOR + 6.900%) (C)(G) | &nbsp;&nbsp;&nbsp;&nbsp;8.940 | &nbsp;&nbsp;12-12-33 | &nbsp;&nbsp;EUR | 1102965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276545 |
| **Transportation assets 0.2%** | **Transportation assets 0.2%** | **Transportation assets 0.2%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**579364** |
| JH Aircraft Leasing 4535 (Ireland) Designated Activity Company (E)(N) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;04-26-44 |  | 20897863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579364 |
| **Credit-linked notes 11.5%** |  |  |  |  | &nbsp;&nbsp;**$28740460** |
| (Cost $28,767,110) |  |  |  |  |  |
| **Consumer loans 5.2%** | **Consumer loans 5.2%** | **Consumer loans 5.2%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**12906038** |
| Ally Bank Auto Credit-Linked Note |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-A, Class F (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;06-15-33 |  | &nbsp;&nbsp;&nbsp;&nbsp;2462885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2462383 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-B, Class F (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;09-15-33 |  | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000065 |
| Huntington Bank Auto Credit-Linked Note |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class E (30 day Average SOFR + 8.250%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;05-20-32 |  | &nbsp;&nbsp;&nbsp;&nbsp;605568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617908 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2, Class E (30 day Average SOFR + 7.500%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10-20-32 |  | &nbsp;&nbsp;&nbsp;&nbsp;1194080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208643 |
| Santander Bank Auto Credit-Linked Note |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-A, Class G (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;06-15-33 |  | &nbsp;&nbsp;&nbsp;&nbsp;2698510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3149154 |
| Truist Bank Auto Credit-Linked Note |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class D (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;09-26-33 |  | &nbsp;&nbsp;&nbsp;&nbsp;1610955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610492 |
| U.S. Bank NA Auto Credit-Linked Note |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1, Class D (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-25-32 |  | &nbsp;&nbsp;&nbsp;&nbsp;384963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391671 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-SUP1, Class R (30 day Average SOFR + 7.500%) (A)(C)(G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02-25-32 |  | &nbsp;&nbsp;&nbsp;&nbsp;1465722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465722 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 38

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---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | &nbsp;&nbsp;**Value** |
| **Corporate asset backed securities 6.3%** | **Corporate asset backed securities 6.3%** | **Corporate asset backed securities 6.3%** |  | &nbsp;&nbsp;**$15834422** |
| Deutsche Bank AG Credit-Linked Note |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class CLN (3 month CME Term SOFR + 9.250%) (A)(C)(G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11-21-33 | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5086500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class CLN (3 month CME Term SOFR + 7.250%) (A)(C)(G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;01-21-35 | &nbsp;&nbsp;&nbsp;&nbsp;5750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5750000 |
| MAM SRT Holder II, Ltd. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(1 month CME Term SOFR + 6.500%) (A)(C)(G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08-06-32 | &nbsp;&nbsp;&nbsp;&nbsp;3542176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3540051 |
| U.S. Bank C&I Credit-Linked Note |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SUP2, Class E (30 day Average SOFR + 3.700%) (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;09-25-32 | &nbsp;&nbsp;&nbsp;&nbsp;1457921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457871 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Yield (%)** | **Shares** | &nbsp;&nbsp;**Value** |
| **Short-term investments 11.3%** |  |  | &nbsp;&nbsp;**$28391340** |
| (Cost $28,391,340) |  |  |  |
| **Short-term funds 11.3%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**28391340** |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | &nbsp;&nbsp;4.0278(O) | &nbsp;&nbsp;27806725 | &nbsp;&nbsp;&nbsp;27806725 |
| U.S. Bank Money Market Deposit Account | &nbsp;&nbsp;2.9350(O) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167722 |
| Wilmington U.S. Government Money Market Fund, Institutional Class | &nbsp;&nbsp;3.9300(O) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416893 |

---

---

| | |
|:---|:---|
| **Total investments (Cost $311,679,459) 125.2%** | &nbsp;&nbsp;**$313931002** |
| **Other assets and liabilities, net (25.2%)** | &nbsp;&nbsp;&nbsp;**(63195569)** |
| **Total net assets 100.0%** | &nbsp;&nbsp;**$250735433** |

---

---

| | |
|:---|:---|
| The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. |
| ^All par values are denominated in U.S. dollars unless otherwise indicated. | ^All par values are denominated in U.S. dollars unless otherwise indicated. |
| **Currency Abbreviations** | **Currency Abbreviations** |
| EUR | Euro |

---

---

| | |
|:---|:---|
| **Security Abbreviations and Legend** | **Security Abbreviations and Legend** |
| CME | CME Group Published Rates |
| EURIBOR | Euro Interbank Offered Rate |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| PO | Principal-Only Security - (Principal Tranche of Stripped Security). Rate shown is the annualized yield on date of purchase. |
| SOFR | Secured Overnight Financing Rate |
| (A) | This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $175,473,788 or 70.0% of the fund's net assets as of 10-31-25. |
| (B) | All or a portion of this security is segregated as collateral for reverse repurchase agreements. |
| (C) | Variable rate obligation. The coupon rate shown represents the rate at period end. |

---

39 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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(D) Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the
current rate as of period end.

(E) The fund holds an affiliate interest in this investment.

(F) The fund holds 100% of the economic interests in the investment.

(G) Securities are valued using significant unobservable inputs and are classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.

(H) Notes do not bear interest and represent the ownership of the residual interest in the issuing entity. Distributions are made only after all classes senior in priority have received all amounts due.

(I) Loans are privately issued. Loan originator and/or seller is reflected.

(J) Non-income producing security.

(K) The underlying loans have matured but are still in the repayment process.

(L) Non-income producing - borrower is in default.

(M) Term loans are variable rate obligations. The rate shown represents the rate at period end.

(N) There is no stated interest rate. The fund holds 100% of the economic interests in the investment.

(O) The rate shown is the annualized seven-day yield as of 10-31-25.

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 40

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[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

#### DERIVATIVES

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | **Contract to sell** | **Contract to sell** | **Counterparty (OTC)** | **Contractual<br> settlement<br> date** | **Unrealized<br> appreciation** | **Unrealized<br> depreciation** |
| EUR | 1172553 | USD | 1243369 | SSB | 11/28/2025 | &nbsp;&nbsp;$110316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;&nbsp;927149 | USD | 1087394 | SSB | 1/21/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(13793) |
| EUR | &nbsp;&nbsp;&nbsp;813816 | USD | &nbsp;&nbsp;&nbsp;957376 | SSB | 7/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6756) |
| USD | 1261801 | EUR | 1172553 | SSB | 11/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91883) |
| USD | 1138059 | EUR | 1070006 | SSB | 1/21/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(100964) |
| USD | &nbsp;&nbsp;&nbsp;165050 | EUR | &nbsp;&nbsp;&nbsp;139971 | SSB | 4/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| USD | 1124276 | EUR | &nbsp;&nbsp;&nbsp;948750 | SSB | 7/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp;16039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;&nbsp;973637 | EUR | &nbsp;&nbsp;&nbsp;824832 | SSB | 10/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  |  |  |  | **$135082** | **$(213396)** |

---

---

| | |
|:---|:---|
| **Derivatives Currency Abbreviations** | **Derivatives Currency Abbreviations** |
| EUR | Euro |
| USD | U.S. Dollar |

---

---

| | |
|:---|:---|
| **Derivatives Abbreviations** | **Derivatives Abbreviations** |
| OTC | Over-the-counter |
| SSB | State Street Bank and Trust Company |

---

At 10-31-25, the aggregate cost of investments for federal income tax purposes was $312,987,300. Net unrealized appreciation aggregated to $865,388, of which $3,427,063 related to gross unrealized appreciation and $2,561,675 related to gross unrealized depreciation.

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

41 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \| SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

Consolidated financial statements

#### CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES 10-31-25

------

---

| | |
|:---|:---|
| **Assets** |  |
| Unaffiliated investments, at value (Cost $269,218,215) | &nbsp;&nbsp;&nbsp;&nbsp;$269537548 |
| Affiliated investments, at value (Cost $42,461,244) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44393454 |
| **Total investments, at value (Cost $311,679,459)** | &nbsp;&nbsp;&nbsp;&nbsp;**313931002** |
| Unrealized appreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135082 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819053 |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422655 |
| Receivable for escrow and corporate advances, at value (Cost $594,117) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594117 |
| Collateral at prime broker | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1791752 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1228534 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90233 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**319167428** |
| **Liabilities** |  |
| Payable for open reverse repurchase agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63435698 |
| Unrealized depreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213396 |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 |
| Deferred tax liability | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405331 |
| Payable to affiliates |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121159 |
| &nbsp;&nbsp;&nbsp;&nbsp;Incentive fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027057 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7525 |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1221446 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**68431995** |
| **Net assets** | &nbsp;&nbsp;**$250735433** |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$247101221 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3634212 |
| **Net assets** | &nbsp;&nbsp;**$250735433** |
| **Net asset value per share** |  |
| Based on net asset value and shares outstanding - the fund has an unlimited number of<br> shares authorized with no par value |  |
| Class I ($249,512,410 ÷ 12,213,240 shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20.43 |
| Class D ($983,936 ÷ 48,070 shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20.47 |
| Class S ($239,087 ÷ 11,628 shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20.56 |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ANNUAL REPORT \| JOHN HANCOCK Marathon Asset-Based Lending Fund 42

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[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

#### CONSOLIDATED STATEMENT OF OPERATIONS For the year ended 10-31-25

------

---

| | |
|:---|:---|
| **Investment income** |  |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22335316 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5560441 |
| Dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501754 |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**28397511** |
| **Expenses** |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3722103 |
| Incentive fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2437219 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2163 |
| Interest expense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2372023 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42035 |
| Transfer agent fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209598 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63066 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231855 |
| Investment servicing fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1407170 |
| State registration fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68945 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30995 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007718 |
| Pricing services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748400 |
| Tax expense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5036 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244764 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;**12593090** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1334268) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;**11258822** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**17138689** |
| **Realized and unrealized gain (loss)** |  |
| **Net realized gain (loss) on** |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(355210) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6171 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59822 |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30270) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(319487)** |
| **Change in net unrealized appreciation (depreciation) of** |  |
| Unaffiliated investments, foreign currency transactions and receivables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772528 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7715) |
| Deferred taxes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(188309) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(138648) |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78314) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**359542** |
| **Net realized and unrealized gain** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**40055** |
| **Increase in net assets from operations** | &nbsp;&nbsp;**$17178744** |

---

43 JOHN HANCOCK Marathon Asset-Based Lending Fund \| ANNUAL REPORT SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

#### CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Year ended<br> 10-31-25** | &nbsp;&nbsp;**Year ended<br> 10-31-24** |
| **Increase (decrease) in net assets** |  |  |
| **From operations** |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17138689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10324076 |
| Net realized loss | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(319487) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91438) |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2216793 |
| **Increase in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;**17178744** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12449431** |
| **Distributions to shareholders** |  |  |
| From earnings |  |  |
| Class I | &nbsp;&nbsp;&nbsp;&nbsp;(15943315) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10585056) |
| Class D | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36480) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4910) |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8029) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2977) |
| **Total distributions** | &nbsp;&nbsp;**(15987824)** | &nbsp;&nbsp;&nbsp;&nbsp;**(10592943)** |
| **From fund share transactions** | &nbsp;&nbsp;&nbsp;**73702809** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60462679** |
| **Total increase** | &nbsp;&nbsp;&nbsp;**74893729** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**62319167** |
| **Net assets** |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;175841704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113522537 |
| **End of year** | **$250735433** | &nbsp;&nbsp;**$175841704** |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ANNUAL REPORT \| JOHN HANCOCK Marathon Asset-Based Lending Fund 44

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[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

#### CONSOLIDATED STATEMENT OF CASH FLOWS For the year ended 10-31-25

------

---

| | |
|:---|:---|
| **Cash flows from operating activities** |  |
| Net increase in net assets from operations | &nbsp;&nbsp;&nbsp;&nbsp;$17178744 |
| **Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:** |  |
| Long-term investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;(252352021) |
| Long-term investments sold | &nbsp;&nbsp;&nbsp;&nbsp;152784449 |
| Net purchases and sales of short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22838471) |
| Net amortization (accretion) of premium (discount) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16840) |
| (Increase) Decrease in assets: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418684 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized appreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(135082) |
| &nbsp;&nbsp;&nbsp;&nbsp;Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(348062) |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivable for escrow and corporate advances, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14761 |
| &nbsp;&nbsp;&nbsp;&nbsp;Collateral at prime broker | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1275126) |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89564 |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivable from affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366097 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309390 |
| Increase (Decrease) in liabilities: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized depreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213396 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred tax liability | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188309 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payable to affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751077 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(427612) |
| Net change in unrealized (appreciation) depreciation on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(760205) |
| Net realized (gain) loss on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373159 |
| Proceeds received as return of capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22255827 |
| **Net cash used in operating activities** | &nbsp;&nbsp;**$(83209962)** |
| **Cash flows provided by (used in) financing activities** |  |
| Distributions to shareholders | &nbsp;&nbsp;&nbsp;&nbsp;$(12957449) |
| Borrowings from reverse repurchase agreements | &nbsp;&nbsp;&nbsp;&nbsp;567299140 |
| Repayments of reverse repurchase agreements | &nbsp;&nbsp;&nbsp;&nbsp;(541518947) |
| Fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80740293 |
| Fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10222859) |
| **Net cash flows provided by financing activities** | &nbsp;&nbsp;&nbsp;**$83340178** |
| **Net increase in cash** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$130216** |
| **Cash at beginning of year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$688837** |
| **Cash at end of year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$819053** |
| **Supplemental disclosure of cash flow information:** |  |
| **Cash paid for interest** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2291479)** |

---

45 JOHN HANCOCK Marathon Asset-Based Lending Fund \| ANNUAL REPORT SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

#### CONSOLIDATED STATEMENT OF CASH FLOWS For the year ended 10-31-25 (continued)

------

---

| | |
|:---|:---|
| **Noncash financing activities not included herein consists of reinvestment of distributions** | &nbsp;&nbsp;&nbsp;&nbsp;**$3030375** |

---

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ANNUAL REPORT \| JOHN HANCOCK Marathon Asset-Based Lending Fund 46

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

#### CONSOLIDATED FINANCIAL HIGHLIGHTS

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CLASS I SHARES Period ended** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-31-23** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-31-22<sup>1</sup>** |
| **Per share operating performance** |  |  |  |  |
| **Net asset value, beginning of period** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.28** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.01** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$19.84** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.00** |
| Net investment income<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.09 |
| Net realized and unrealized gain (loss) on investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.25) |
| **Total from investment operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.61** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.62** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.24** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(0.16)** |
| **Less distributions** |  |  |  |  |
| From net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.46) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.35) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.07) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| From net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1.46)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1.35)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1.07)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Net asset value, end of period<sup>4</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.43** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.28** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.01** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$19.84** |
| **Total return (%)<sup>5</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.87** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.58** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.40** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(0.80)<sup>6</sup>** |
| **Ratios and supplemental data** |  |  |  |  |
| Net assets, end of period (in millions) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$99 |
| Ratios (as a percentage of average net assets): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Expenses before reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.66<sup>7</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15<sup>7</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90<sup>8</sup> |
| &nbsp;&nbsp;&nbsp;Expenses including reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.06<sup>79</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.12<sup>79</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.94<sup>8</sup> |
| &nbsp;&nbsp;&nbsp;Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.48<sup>10</sup> |
| Portfolio turnover (%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| Total debt outstanding end of period (in millions) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Asset coverage per $1,000 of debt<sup>11</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4953<sup>12</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

<sup>1</sup> Period from 7-11-22 (commencement of operations) to 10-31-22.

<sup>2</sup> Based on average monthly shares outstanding.

<sup>3</sup> Less than $0.005 per share.

<sup>4</sup> The fund is a continuously offered closed-end fund, the shares of which are offered at net asset value. No secondary market for the fund's shares exists.

<sup>5</sup> Total returns would have been lower had certain expenses not been reduced during the applicable periods.

<sup>6</sup> Not annualized.

<sup>7</sup> Includes incentive fees expense of 1.10% and 0.71% for the years ended 10-31-25 and 10-31-24, respectively.

<sup>8</sup> Annualized. Certain expenses are presented unannualized.

<sup>9</sup> Expenses including reductions excluding interest expense were 3.99% and 3.43% for the years ended 10-31-25 and 10-31-24.

<sup>10</sup> Annualized.

<sup>11</sup> Asset coverage equals the total net assets plus borrowings divided by the borrowings of the fund outstanding at period end. As debt outstanding changes, the level of invested assets may change accordingly. Asset coverage ratio provides a measure of leverage.

<sup>12</sup> Asset coverage per $1,000 of debt, including borrowings of unconsolidated subsidiaries, was $3,757 for the year ended 10-31-25.

47 JOHN HANCOCK Marathon Asset-Based Lending Fund \| ANNUAL REPORT SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

#### CONSOLIDATED FINANCIAL HIGHLIGHTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CLASS D SHARES Period ended** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-31-23** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-31-22<sup>1</sup>** |
| **Per share operating performance** |  |  |  |  |
| **Net asset value, beginning of period** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.28** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.02** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$19.82** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.00** |
| Net investment income<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.08 |
| Net realized and unrealized gain (loss) on investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.26) |
| **Total from investment operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.60** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.56** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.21** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(0.18)** |
| **Less distributions** |  |  |  |  |
| From net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.41) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.01) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| From net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1.41)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1.30)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1.01)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Net asset value, end of period<sup>4</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.47** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.28** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.02** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$19.82** |
| **Total return (%)<sup>5,6</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.81** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.24** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.24** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(0.90)<sup>7</sup>** |
| **Ratios and supplemental data** |  |  |  |  |
| Net assets, end of period (in millions) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>8</sup> |
| Ratios (as a percentage of average net assets): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Expenses before reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.91<sup>9</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40<sup>9</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15<sup>10</sup> |
| &nbsp;&nbsp;&nbsp;Expenses including reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.31<sup>911</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.37<sup>911</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19<sup>10</sup> |
| &nbsp;&nbsp;&nbsp;Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.24<sup>12</sup> |
| Portfolio turnover (%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| Total debt outstanding end of period (in millions) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Asset coverage per $1,000 of debt<sup>13</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4953<sup>14</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

<sup>1</sup> Period from 7-11-22 (commencement of operations) to 10-31-22.

<sup>2</sup> Based on average monthly shares outstanding.

<sup>3</sup> Less than $0.005 per share.

<sup>4</sup> The fund is a continuously offered closed-end fund, the shares of which are offered at net asset value. No secondary market for the fund's shares exists.

<sup>5</sup> Total returns would have been lower had certain expenses not been reduced during the applicable periods.

<sup>6</sup> Does not reflect the effect of sales charges, if any.

<sup>7</sup> Not annualized.

<sup>8</sup> Less than $500,000.

<sup>9</sup> Includes incentive fees expense of 1.10% and 0.71% for the years ended 10-31-25 and 10-31-24, respectively.

<sup>10</sup> Annualized. Certain expenses are presented unannualized.

<sup>11</sup> Expenses including reductions excluding interest expense were 4.24% and 3.68% for the years ended 10-31-25 and 10-31-24, respectively.

<sup>12</sup> Annualized.

<sup>13</sup> Asset coverage equals the total net assets plus borrowings divided by the borrowings of the fund outstanding at period end. As debt outstanding changes, the level of invested assets may change accordingly. Asset coverage ratio provides a measure of leverage.

<sup>14</sup> Asset coverage per $1,000 of debt, including borrowings of unconsolidated subsidiaries, was $3,757 for the year ended 10-31-25.

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ANNUAL REPORT \| JOHN HANCOCK Marathon Asset-Based Lending Fund 48

------

[**Table of Contents**](#JOB_JH_As_728a5254-d63d-4d7a-b89f-7d7ce5e732eb_TofC)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CLASS S SHARES Period ended** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-31-23** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-31-22<sup>1</sup>** |
| **Per share operating performance** |  |  |  |  |
| **Net asset value, beginning of period** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.38** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.01** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$19.79** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.00** |
| Net investment income<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.04 |
| Net realized and unrealized gain (loss) on investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.25) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.25) |
| **Total from investment operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.46** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.55** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.09** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(0.21)** |
| **Less distributions** |  |  |  |  |
| From net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.28) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.18) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.87) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| From net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1.28)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1.18)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(0.87)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Net asset value, end of period<sup>4</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.56** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.38** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20.01** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$19.79** |
| **Total return (%)<sup>5,6</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.03** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.22** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.57** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1.05)<sup>7</sup>** |
| **Ratios and supplemental data** |  |  |  |  |
| Net assets, end of period (in millions) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>8</sup> |
| Ratios (as a percentage of average net assets): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Expenses before reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.51<sup>9</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00<sup>9</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75<sup>10</sup> |
| &nbsp;&nbsp;&nbsp;Expenses including reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.91<sup>911</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.97<sup>911</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.79<sup>10</sup> |
| &nbsp;&nbsp;&nbsp;Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.02 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.64<sup>12</sup> |
| Portfolio turnover (%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| Total debt outstanding end of period (in millions) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Asset coverage per $1,000 of debt<sup>13</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4953<sup>14</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

<sup>1</sup> Period from 7-11-22 (commencement of operations) to 10-31-22.

<sup>2</sup> Based on average monthly shares outstanding.

<sup>3</sup> Less than $0.005 per share.

<sup>4</sup> The fund is a continuously offered closed-end fund, the shares of which are offered at net asset value. No secondary market for the fund's shares exists.

<sup>5</sup> Total returns would have been lower had certain expenses not been reduced during the applicable periods.

<sup>6</sup> Does not reflect the effect of sales charges, if any.

<sup>7</sup> Not annualized.

<sup>8</sup> Less than $500,000.

<sup>9</sup> Includes incentive fees expense of 1.10% and 0.71% for the years ended 10-31-25 and 10-31-24, respectively.

<sup>10</sup> Annualized. Certain expenses are presented unannualized.

<sup>11</sup> Expenses including reductions excluding interest expense were 4.84% and 4.28% for the years ended 10-31-25 and 10-31-24.

<sup>12</sup> Annualized.

<sup>13</sup> Asset coverage equals the total net assets plus borrowings divided by the borrowings of the fund outstanding at period end. As debt outstanding changes, the level of invested assets may change accordingly. Asset coverage ratio provides a measure of leverage.

<sup>14</sup> Asset coverage per $1,000 of debt, including borrowings of unconsolidated subsidiaries, was $3,757 for the year ended 10-31-25.

49 JOHN HANCOCK Marathon Asset-Based Lending Fund \| ANNUAL REPORT SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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Notes to consolidated financial statements

#### Note 1 — Organization
John Hancock Marathon Asset-Based Lending Fund (formerly John Hancock Asset-Based Lending Fund) (the fund) is a Massachusetts business trust that is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a continuously offered, closed-end management investment company. The fund's investment objective is to seek to provide high current income and to a lesser extent capital appreciation. Under normal circumstances, the fund invests 80% of its net assets (plus any borrowings for investment purposes) in asset-based lending investments, which may include investments in distressed loans.

The fund's shares are not listed on any securities exchange. At the sole discretion of the Board and provided that it is in the best interests of the fund and shareholders to do so, the fund intends to provide a limited degree of liquidity to the shareholders by conducting repurchase offers generally quarterly; however, there can be no assurance that any such repurchase offers will be conducted on a quarterly basis or at all.

The fund may offer multiple classes of shares. The shares currently outstanding are detailed in the Consolidated statement of assets and liabilities. Prior to August 1, 2025, shares were offered only to accredited investors as defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933 (the 1933 Act). Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, for each class may differ.

Prior to March 3, 2025, the fund was known as John Hancock Asset-Based Lending Fund.

**Basis of consolidation. The accompanying consolidated financial statements include the accounts of JH Consumer Loan Trust, JH Residential Whole Loan Trust, JH Residential Whole Loan Trust II, and John Hancock Asset-Based Lending US Aircraft Delaware Subsidiary Fund LLC, each a wholly owned subsidiary of the fund:**

&nbsp;&nbsp;&nbsp;&nbsp;• JH Residential Whole Loan Trust, a Delaware statutory trust, was established on October 14, 2022 for the purpose of originating and acquiring residential real estate loans and legacy mortgage loan pools.

&nbsp;&nbsp;&nbsp;&nbsp;• John Hancock Asset-Based Lending US Aircraft Delaware Subsidiary Fund LLC, a Delaware LLC, was formed on October 18, 2022 and acts as an investment vehicle for the fund to obtain exposure to commercial aircraft lease transactions.

&nbsp;&nbsp;&nbsp;&nbsp;• JH Consumer Loan Trust, a Delaware statutory trust, was established on November 17, 2022 for the purpose of acquiring consumer loans, high-yield asset-backed securities backed by various forms of non-mortgage household debt largely focused on select market segments, such as automobile loans and leases, credit cards and personal installment loans, and other types of consumer loans.

&nbsp;&nbsp;&nbsp;&nbsp;• JH Residential Whole Loan Trust II, a Delaware statutory trust, was established on June 5, 2023 for the purpose of originating and acquiring residential real estate loans and legacy mortgage loan pools.

The fund will generally consolidate its investment in a wholly or substantially owned subsidiary, which is an extension of the operations of the fund, or a controlled operating company whose business consists of providing services to the fund. The fund consolidates its investments in JH Consumer Loan Trust, JH Residential Whole Loan Trust, JH Residential Whole Loan Trust II, and John Hancock Asset-Based Lending US Aircraft Delaware Subsidiary Fund LLC. Intercompany accounts and transactions, if any, have been eliminated. The Consolidated Fund's investments include positions of the fund and these subsidiaries.

The fund has determined that the following wholly owned special purpose vehicles are operating companies, and therefore does not consolidate these investments as it is not permitted to consolidate any subsidiary or other entity that is not an investment company, including those in which the fund has a controlling interest unless the business of the operating company consists of providing services to the fund.

&nbsp;&nbsp;&nbsp;&nbsp;• JH REO Trust, a Delaware statutory trust, was formed on October 14, 2022 and serves as an investment vehicle to hold foreclosed or real estate owned properties of JH Residential Whole Loan Trust.

\| JOHN HANCOCK Marathon Asset-Based Lending Fund 50

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&nbsp;&nbsp;&nbsp;&nbsp;• MSN 803 Trust is a special purpose vehicle purchased by John Hancock Asset-Based Lending US Aircraft Delaware Subsidiary Fund LLC on August 30, 2023, which was established to hold the title to a commercial aircraft and is currently subject to a lease arrangement.

&nbsp;&nbsp;&nbsp;&nbsp;• JH Aircraft Leasing 4535 (Ireland) Designated Activity Company was established on January 23, 2024 to hold the title to an international commercial aircraft. The commercial aircraft was sold during the year ended October 31, 2025, and therefore, there are no current lease arrangements.

&nbsp;&nbsp;&nbsp;&nbsp;• JH LiftCo, LLC, a Delaware statutory trust, was established on March 4, 2024 for the purpose of holding title to industrial equipment, which is currently subject to a lease arrangement.

&nbsp;&nbsp;&nbsp;&nbsp;• JH Finance LeaseCo LLC, a Delaware LLC, was formed on May 7, 2024 for the purpose of holding title to industrial equipment, which is currently subject to lease arrangements.

&nbsp;&nbsp;&nbsp;&nbsp;• JH Arbor Leasing, LLC, a Delaware LLC, was established on April 10, 2025 for the purpose of holding title to vegetation management equipment, which is currently subject to a lease arrangement.

&nbsp;&nbsp;&nbsp;&nbsp;• JH Rail, LLC, a Delaware LLC, was formed on July 31, 2025 for holding title to rail car equipment, which is subject to lease and borrowing arrangements.

#### Note 2 — Significant accounting policies
The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The fund qualifies as an investment company under Topic 946 of Accounting Standards Codification (ASC) of US GAAP. Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the consolidated financial statements. The following summarizes the significant accounting policies of the fund:

**Security valuation. Investments are valued at the end of each month at a minimum pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Investment Management LLC.**

In order to value the securities, the fund uses the following valuation techniques: Debt obligations, are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Investments by the fund in open-end mutual funds are valued at their respective NAVs each business day. Private investments are measured at fair value based on the present value of the expected cash flows. There are no quoted prices in active markets and valuations rely primarily on the use of significant unobservable inputs, which require significant judgment. Assumptions and inputs used in the valuation include prepayment estimates, determination of the discount rate based on the risk-free interest rate adjusted for credit risk (including estimation of probability of default), liquidity and any other adjustments a third-party market participant would take into account in pricing a transaction. Exchange-traded options are valued at the mid-price of the last quoted bid and ask prices from the exchange where the option trades. Unlisted options are generally valued using evaluated prices obtained from an independent pricing vendor. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Forward foreign currency contracts are valued at the prevailing forward rates which are based on foreign currency exchange spot rates and forward points supplied by an independent pricing vendor. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.

51 JOHN HANCOCK Marathon Asset-Based Lending Fund \|

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Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Advisor's Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed.

The fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor's assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

The following is a summary of the values by input classification of the Consolidated Fund's investments as of October 31, 2025, by major security category or type:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 10-31-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$110316460** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$110316460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special purpose vehicles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**43814090** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$43814090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36158105** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8426278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27731827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**29605546** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29605546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer-related assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24636863** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17862982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6773881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5257729** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5257729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate asset-based credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5154500** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5154500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Profit participating notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1855909** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit-linked notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**28740460** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12898187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15842273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**28391340** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$28223618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$313931002** | **$28223618** | **$150250993** | **$135456391** |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reverse repurchase agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(63435698)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(63435698) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**135082** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(213396)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(213396) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

\| JOHN HANCOCK Marathon Asset-Based Lending Fund 52

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The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. Transfers into or out of Level 3, if any, represent the beginning value of any security or instrument where a change in the level has occurred from the beginning to the end of the period and in all cases were transferred into or out of Level 2. Securities were transferred from Level 3 since observable market data became available due to the increased market activity of these securities.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Special<br> purpose<br> vehicles** | &nbsp;&nbsp;**Residential<br> loans** | &nbsp;&nbsp;**Term<br> loans** | &nbsp;&nbsp;**Consumer-<br> related<br> assets** | &nbsp;&nbsp;**Consumer<br> loans** | &nbsp;&nbsp;**Corporate<br> asset-<br> based<br> credit** | &nbsp;&nbsp;**Profit<br> participating<br> notes** | &nbsp;&nbsp;**Credit-<br> linked<br> notes** | &nbsp;&nbsp;**Total** |
| Balance as of 10-31-24 | &nbsp;&nbsp;$21863018 | &nbsp;&nbsp;&nbsp;$34917923 | &nbsp;&nbsp;&nbsp;$27543381 | &nbsp;&nbsp;&nbsp;$5761603 | &nbsp;&nbsp;&nbsp;$8694707 | &nbsp;&nbsp;&nbsp;$5133000 | &nbsp;&nbsp;$24415734 | &nbsp;&nbsp;&nbsp;$11869479 | &nbsp;&nbsp;&nbsp;$140198845 |
| Purchases | &nbsp;&nbsp;&nbsp;33884408 | &nbsp;&nbsp;&nbsp;&nbsp;47781789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1883307 | &nbsp;&nbsp;&nbsp;&nbsp;2101680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93401184 |
| Sales | &nbsp;&nbsp;(12642720) | &nbsp;&nbsp;&nbsp;&nbsp;(56280106) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21791) | &nbsp;&nbsp;&nbsp;(2161557) | &nbsp;&nbsp;&nbsp;(2473663) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(22002345) | &nbsp;&nbsp;&nbsp;&nbsp;(3858773) | &nbsp;&nbsp;&nbsp;&nbsp;(99440955) |
| Realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3768705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(1035199) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(963) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2773084 |
| Transfers out of Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1520150) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(367653) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1887803) |
| Net amortization of (premium) discount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(226266) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55614) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(317) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134440 |
| Change in unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(710068) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(803546) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277596 |
| **Balance as of 10-31-25** | **$43814090** | &nbsp;&nbsp;**$27731827** | &nbsp;&nbsp;**$29605546** | &nbsp;&nbsp;**$6773881** | &nbsp;&nbsp;**$5257729** | &nbsp;&nbsp;**$5154500** | &nbsp;&nbsp;**$1276545** | &nbsp;&nbsp;**$15842273** | &nbsp;&nbsp;**$135456391** |
| Change in unrealized appreciation (depreciation) at period end<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$703213 | &nbsp;&nbsp;&nbsp;&nbsp;$(1260526) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$80140 | &nbsp;&nbsp;&nbsp;&nbsp;$776012 | &nbsp;&nbsp;&nbsp;&nbsp;$217956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21500 | &nbsp;&nbsp;&nbsp;&nbsp;$119093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$82847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$740235 |

---

<sup>1</sup> Change in unrealized appreciation (depreciation) attributable to Level 3 securities held at period end. This balance is included in change in unrealized appreciation (depreciation) on the Consolidated statement of operations.

The valuation techniques and significant unobservable inputs used in the fair value measurement of the fund's Level 3 securities are outlined in the table below.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Fair Value<br> at 10-31-25** | &nbsp;&nbsp;**Valuation technique** | &nbsp;&nbsp;**Significant<br> unobservable inputs** | &nbsp;&nbsp;**Input/Range\*** | &nbsp;&nbsp;**Input weighted<br> average\*** |
| Special purpose vehicles | $43814090 | &nbsp;&nbsp;Discounted cash flow<br> Recent transaction | &nbsp;&nbsp;Discount rate<br> Transaction price | &nbsp;&nbsp;9.44% - 16.95%<br> $100.00 - $104.64 | &nbsp;&nbsp;12.19%<br> $100.02 |
| Residential loans | 27731827 | &nbsp;&nbsp;Discounted cash flow<br> Recent transaction | &nbsp;&nbsp;Discount rate<br> Transaction price | &nbsp;&nbsp;7.71% - 31.28%<br> $77.68 - $102.20 | &nbsp;&nbsp;11.69%<br> $87.22 |
| Term loans | 29605546 | &nbsp;&nbsp;Discounted cash flow | &nbsp;&nbsp;Discount rate | &nbsp;&nbsp;8.94% - 14.23% | &nbsp;&nbsp;10.74% |
| Consumer-related assets | 6773881 | &nbsp;&nbsp;Discounted cash flow | &nbsp;&nbsp;Discount rate | &nbsp;&nbsp;11.34% - 20.14% | &nbsp;&nbsp;15.25% |
| Consumer loans | 5257729 | &nbsp;&nbsp;Discounted cash flow | &nbsp;&nbsp;Discount rate | &nbsp;&nbsp;6.83% - 9.35% | &nbsp;&nbsp;7.45% |
| Corporate asset-based credit | 5154500 | &nbsp;&nbsp;Discounted cash flow | &nbsp;&nbsp;Discount rate | &nbsp;&nbsp;11.60% | &nbsp;&nbsp;11.60% |
| Profit participating notes | 1276545 | &nbsp;&nbsp;Discounted cash flow | &nbsp;&nbsp;Discount rate | &nbsp;&nbsp;8.70% | &nbsp;&nbsp;8.70% |

---

53 JOHN HANCOCK Marathon Asset-Based Lending Fund \|

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Fair Value<br> at 10-31-25** | &nbsp;&nbsp;**Valuation technique** | &nbsp;&nbsp;**Significant<br> unobservable inputs** | &nbsp;&nbsp;**Input/Range\*** | &nbsp;&nbsp;**Input weighted<br> average\*** |
| Credit-linked notes | 15842273 | &nbsp;&nbsp;Discounted cash flow<br> Recent transaction | &nbsp;&nbsp;Discount rate<br> Transaction price | &nbsp;&nbsp;9.86% - 11.41%<br> $100.00 | &nbsp;&nbsp;10.38%<br> $100.00 |
| **Total** | **$135456391** |  |  |  |  |

---

\*A weighted average is an average in which each input in the grouping is assigned a weighting before summing to a single average value. The weighting of the input is determined based on a security's fair value as a percentage of the total fair value.

A change to unobservable inputs of the fund's Level 3 securities as of October 31, 2025 could have resulted in changes to the fair value measurement, as follows:

---

| | | |
|:---|:---|:---|
| **Significant Unobservable Input** | **Impact to valuation<br> if input had increased** | &nbsp;&nbsp;**Impact to valuation<br> if input had decreased** |
| Discount rate | Decrease | &nbsp;&nbsp;Increase |
| Transaction price | Increase | &nbsp;&nbsp;Decrease |

---

**Reverse repurchase agreements. The fund may enter into reverse repurchase agreements. In a reverse repurchase agreement, the fund delivers a security, as collateral, in exchange for cash to a financial institution, the counterparty, with a simultaneous agreement to repurchase the same or substantially the same security at an agreed upon price and date. The fund is entitled to receive principal and interest payments, if any, made on the security delivered to the counterparty during the term of the agreements. In addition, cash collateral received from the counterparty to cover appreciation on the underlying security, if any, is shown on the Consolidated statement of assets and liabilities as Payable for collateral on open reverse repurchase agreements. Obligation to repay cash received by a fund, if any, is shown on the Consolidated statement of assets and liabilities as Payable for open reverse repurchase agreements.**

Because reverse repurchase agreements may be considered to be the practical equivalent of borrowing funds (and the counterparty making a loan), they constitute a form of leverage. In the event of a default by the counterparty, recovery of the security transferred by the fund may be delayed or the fund may incur a loss equal to the amount by which the value of the security transferred by the fund exceeds the repurchase price payable by the fund.

The following table summarizes the open reverse repurchase agreements at October 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;**Borrowing<br> rate** | &nbsp;&nbsp;&nbsp;**Settlement<br> date** | &nbsp;&nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;&nbsp;**Amount<br> borrowed** | &nbsp;&nbsp;&nbsp;**Payable for<br> reverse<br> repurchase<br> agreements** |
| J.P. Morgan Securities LLC | &nbsp;&nbsp;4.709% | &nbsp;&nbsp;10-17-25 | &nbsp;&nbsp;11-17-25 | &nbsp;&nbsp;$(2460107) | &nbsp;&nbsp;$(2464934) |
| J.P. Morgan Securities LLC | &nbsp;&nbsp;4.888% | &nbsp;&nbsp;10-8-25 | &nbsp;&nbsp;11-10-25 | &nbsp;&nbsp;(837637) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(840367) |
| J.P. Morgan Securities LLC | &nbsp;&nbsp;4.956% | &nbsp;&nbsp;10-6-25 | &nbsp;&nbsp;11-6-25 | &nbsp;&nbsp;(5331108) | &nbsp;&nbsp;&nbsp;&nbsp;(5350189) |
| J.P. Morgan Securities LLC | &nbsp;&nbsp;5.034% | &nbsp;&nbsp;10-2-25 | &nbsp;&nbsp;11-3-25 | &nbsp;&nbsp;(1876029) | &nbsp;&nbsp;&nbsp;&nbsp;(1883899) |
| J.P. Morgan Securities LLC | &nbsp;&nbsp;5.038% | &nbsp;&nbsp;10-8-25 | &nbsp;&nbsp;11-10-25 | &nbsp;&nbsp;(1707449) | &nbsp;&nbsp;&nbsp;&nbsp;(1713184) |
| J.P. Morgan Securities LLC | &nbsp;&nbsp;5.206% | &nbsp;&nbsp;10-6-25 | &nbsp;&nbsp;11-6-25 | &nbsp;&nbsp;(3037298) | &nbsp;&nbsp;&nbsp;&nbsp;(3048718) |

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\| JOHN HANCOCK Marathon Asset-Based Lending Fund 54

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;**Borrowing<br> rate** | &nbsp;&nbsp;&nbsp;**Settlement<br> date** | &nbsp;&nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;&nbsp;**Amount<br> borrowed** | &nbsp;&nbsp;&nbsp;**Payable for<br> reverse<br> repurchase<br> agreements** |
| J.P. Morgan Securities LLC | &nbsp;&nbsp;5.456% | &nbsp;&nbsp;10-6-25 | &nbsp;&nbsp;11-6-25 | &nbsp;&nbsp;(2331911) | &nbsp;&nbsp;&nbsp;$(2341100) |
| Lucid Capital Markets LLC | &nbsp;&nbsp;4.562% | &nbsp;&nbsp;10-16-25 | &nbsp;&nbsp;11-13-25 | &nbsp;&nbsp;(2246000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2250554) |
| Lucid Capital Markets LLC | &nbsp;&nbsp;4.632% | &nbsp;&nbsp;10-16-25 | &nbsp;&nbsp;11-13-25 | &nbsp;&nbsp;(1771000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1774646) |
| Lucid Capital Markets LLC | &nbsp;&nbsp;4.782% | &nbsp;&nbsp;10-16-25 | &nbsp;&nbsp;11-13-25 | &nbsp;&nbsp;(2078000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2082416) |
| Lucid Capital Markets LLC | &nbsp;&nbsp;4.792% | &nbsp;&nbsp;10-16-25 | &nbsp;&nbsp;11-13-25 | &nbsp;&nbsp;(8518000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8536141) |
| Lucid Capital Markets LLC | &nbsp;&nbsp;4.812% | &nbsp;&nbsp;10-16-25 | &nbsp;&nbsp;11-13-25 | &nbsp;&nbsp;(11615000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11639840) |
| Lucid Capital Markets LLC | &nbsp;&nbsp;4.832% | &nbsp;&nbsp;10-16-25 | &nbsp;&nbsp;11-13-25 | &nbsp;&nbsp;(3240000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3246958) |
| Lucid Capital Markets LLC | &nbsp;&nbsp;4.862% | &nbsp;&nbsp;10-16-25 | &nbsp;&nbsp;11-13-25 | &nbsp;&nbsp;(743000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(744605) |
| Lucid Capital Markets LLC | &nbsp;&nbsp;5.132% | &nbsp;&nbsp;10-16-25 | &nbsp;&nbsp;11-13-25 | &nbsp;&nbsp;(4990000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5001381) |
| Royal Bank of Canada | &nbsp;&nbsp;4.920% | &nbsp;&nbsp;10-24-25 | &nbsp;&nbsp;11-24-25 | &nbsp;&nbsp;(3032000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3035315) |
| UBS AG | &nbsp;&nbsp;4.650% | &nbsp;&nbsp;10-24-25 | &nbsp;&nbsp;11-24-25 | &nbsp;&nbsp;(2712435) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2715238) |
| UBS AG | &nbsp;&nbsp;4.680% | &nbsp;&nbsp;10-2-25 | &nbsp;&nbsp;11-3-25 | &nbsp;&nbsp;(2188156) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2196690) |
| UBS AG | &nbsp;&nbsp;4.730% | &nbsp;&nbsp;10-2-25 | &nbsp;&nbsp;11-3-25 | &nbsp;&nbsp;(2559435) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2569523) |
|  |  |  |  |  | &nbsp;&nbsp;**$(63435698)** |

---

Collateral with a market value of $21,195,440, $41,982,334, $3,536,742 and $8,728,359, have been pledged to J.P. Morgan Securities LLC, Lucid Capital Markets LLC, Royal Bank of Canada and UBS AG, respectively, in connection with open reverse repurchase agreements. The average borrowings by the fund and the weighted average interest rate for the period the fund entered into reverse repurchase agreements amounted to $46,339,992 and 5.12%, respectively. Securities pledged as collateral are disclosed in the Consolidated Fund's investments.

**Term loans. The fund may invest in direct term loans which are not publicly traded, may not have a secondary market, and are not rated by any rating agency. Direct term loans can be asset-based loans secured by collateral such as transportation assets, real estate, consumer or corporate related assets, or other assets. These loans are highly structured and typically include frequent monitoring including but not limited to financial and collateral reporting.**

Because term loans may not be rated by independent credit rating agencies, a decision to invest in a particular loan could depend exclusively on the subadvisor's credit analysis of the borrower. The fund's ability to receive payments of principal, interest and other amounts in connection with term loans will depend primarily on the financial condition of the borrower. The fund is exposed to the risk that the borrower may default or become insolvent and, consequently, that the fund will lose money on the loan. Furthermore, direct loans may subject the fund to liquidity and interest rate risk as certain direct loans may be deemed illiquid.

At October 31, 2025, the fund had $1,413,625 in unfunded loan commitments outstanding.

55 JOHN HANCOCK Marathon Asset-Based Lending Fund \|

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**Stripped securities. Stripped securities are financial instruments structured to separate principal and interest cash flows so that one class receives principal payments from the underlying assets (PO or principal only), while the other class receives the interest cash flows (IO or interest only). Both PO and IO investments represent an interest in the cash flows of an underlying stripped security. If the underlying assets experience greater than anticipated prepayments of principal, the portfolio may fail to fully recover its initial investment in an IO security. The market value of these securities can be extremely volatile in response to changes in interest rates or prepayments on the underlying securities. In addition, these securities also have the risk that the portfolio may not receive all or part of its principal or interest payments because the borrower or issuer has defaulted on its obligation.**

**Mortgage and asset backed securities. The fund may invest in mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, which are debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. Such securities often involve risks that are different from the risks associated with investing in other types of debt securities. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. The timely payment of principal and interest of certain mortgage-related securities is guaranteed with the full faith and credit of the U.S. Government. Pools created and guaranteed by non-governmental issuers, including government-sponsored corporations (e.g. FNMA), may be supported by various forms of insurance or guarantees, but there can be no assurance that private insurers or guarantors can meet their obligations under the insurance policies or guarantee arrangements. The fund is also subject to risks associated with securities with contractual cash flows including asset-backed and mortgage related securities such as collateralized mortgage obligations, mortgage pass-through securities and commercial mortgage-backed securities. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, pre-payments, delinquencies and/or defaults, and may be adversely affected by shifts in the market's perception of the issuers and changes in interest rates.**

The fund may also invest in loans secured by residential real estate, including legacy whole loan pools. The loans may include mortgages made to borrowers with lower credit scores. Accordingly, such mortgage loans may be more sensitive to economic factors that could affect the ability of borrowers to pay their obligations under the mortgage loans. A decline or an extended flattening of home prices and appraisal values may result in increases in delinquencies and losses on residential mortgage loans, particularly with respect to second homes and investor properties and with respect to any residential mortgage loan where the aggregate loan amount (including any subordinate liens) is close to or greater than the related property value. Another factor that may result in higher delinquency rates is the increase in monthly payments on adjustable-rate mortgage loans. The fund may be able to aggregate loans from smaller pools into larger-sized pools for securitization or sale to a third party, resulting in value extraction. Upon the sale of such loans, standard representations, warranties, and documentation requirements apply, which may result in repricing or repurchase if specified conditions are not met.

**Residual interests. The fund may make substantial investments in unsecured equity tranches and equivalent junior subordinate securities of structured finance vehicles. Such residuals will represent subordinated interests in the relevant structured finance vehicle only and are not secured by any assets of such structured finance vehicle. Residuals will be subordinated to all other securities of the structured finance vehicle and all other amounts due under the priority of payments set forth in the operative documents of such structured finance vehicle. As such, the greatest risk of loss relating to defaults in the collateral or asset portfolio of the structured finance vehicle is borne by the residuals. The fund, therefore, as holder of the residuals, will rank behind all of the creditors, whether secured or unsecured and known or unknown, of the structured finance vehicle.**

\| JOHN HANCOCK Marathon Asset-Based Lending Fund 56

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**Credit-linked notes. The fund may purchase credit-linked notes, which are typically privately offered and sold. Credit-linked notes are intended to replicate the economic effects that would apply had the fund directly purchased the underlying reference asset(s). Investments in credit-linked notes represent the right to receive periodic income payments and payment of principal at the end of the term of the note. In addition to the risks associated with the underlying reference instrument, an investment in a credit-linked note is also subject to liquidity risk, market risk, interest rate risk and the risk that the counterparty will be unwilling or unable to meet its obligations under the note.**

**Escrow and corporate advances. The fund advances payments when the borrower fails to meet contractual payments (e.g. property taxes and insurance) in accordance with the terms of its servicing agreements and to cover corporate advances (e.g. appraisal or title fees) associated with residential loans. Advances are fair valued based on assumptions related to their recoverability and seniority in the claims hierarchy in the event of a liquidation and are reflected on the Consolidated statement of assets and liabilities as Receivable for escrow and corporate advances, at value. Change in value, if any, is reflected in the change in net unrealized appreciation (depreciation) of unaffiliated investments and receivables on the Consolidated statement of operations.**

**Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Interest income from investments in residual interest securities is recognized based on the estimated effective yield utilizing expected cash flows. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Dividend income from the funds short-term investments is recorded on ex-date. Distributions from investments in private operating companies are reflected as dividend income. Return of capital distributions from private operating companies, if any, are treated as a reduction of cost. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.**

**Overdrafts. Pursuant to the custodian agreement, the fund's custodian may, in its discretion, advance funds to the fund to make properly authorized payments. When such payments result in an overdraft, the fund is obligated to repay the custodian for any overdraft, including any costs or expenses associated with the overdraft. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the maximum extent permitted by law, to the extent of any overdraft.**

**Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund's relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.**

**Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, for all classes, are charged at the class level based on the net assets of each class and the specific expense rates applicable to each class.**

**Federal income taxes. The fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.**

The fund has five domestic taxable subsidiaries – John Hancock Asset-Based Lending US Aircraft Delaware Subsidiary Fund LLC, JH LiftCo, LLC, JH REO Trust, JH Arbor Leasing, LLC, and JH Rail, LLC (the "Domestic Taxable Subsidiaries"). These entities have elected to be treated as corporations for US income tax purpose and are subject to both federal and state level corporate income taxes. The purposes of the taxable subsidiaries are to permit the

57 JOHN HANCOCK Marathon Asset-Based Lending Fund \|

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Fund to gain exposure to commercial aircraft, industrial equipment, real estate properties, vegetation management equipment and rail car equipment lease transactions for U.S. federal income tax purposes in order to comply with the Regulated Investment Company tax compliance requirements. The net investment income and capital gains and losses from the Domestic Taxable Subsidiaries do not always flow through to the fund and these entities may pay dividends up to the fund. The Domestic Taxable Subsidiaries are not consolidated for income tax purposes and may generate income that is subject to federal, state, and local taxes.

The fund has one foreign taxable subsidiary - JH Aircraft Leasing 4535 (Ireland) Designated Activity Company. The subsidiary is not consolidated for financial reporting purpose. The purpose of the taxable subsidiary is to permit the fund to gain exposure to international commercial aircraft lease transactions. The subsidiary is classified as a controlled foreign corporation under the Internal Revenue Code and is subject to sub part F income rules. Therefore, the fund is required to increase its taxable income by its share of the subsidiary's net taxable income. Net income and realized gains from the subsidiary are treated as ordinary income for tax purposes. If a net loss is realized by the subsidiary in any taxable year, the loss will generally not be available to offset the fund's ordinary income and/or capital gains for that year.

Generally, the Domestic Taxable Subsidiaries, which file separate tax returns, are subject to income tax examinations by U.S. federal, state and local authorities for all years through October 31, 2025. The Domestic Taxable Subsidiaries assess their tax position using the provisions of ASC 740, Income Taxes, with regard to uncertain tax positions. Uncertain income tax positions are recognized based on a "more likely than not" threshold. Penalties and interest are recognized in the Provision for Income Taxes in the Consolidated statement of operations. The Domestic Taxable Subsidiaries are not aware of any tax positions for significant unrecognized tax benefits, and do not believe it is reasonably possible that, within the next twelve months, unrecognized domestic tax benefits will change by a significant amount. As of October 31, 2025, no liability for interest and penalties have been recognized.

Deferred income taxes reflect the net effects of temporary differences between financial reporting and tax basis of assets and liabilities. These temporary differences result in taxable or deductible amounts in future years and are measured using the tax rates and laws that will be in effect when such differences are expected to reverse.

As noted in "Basis of consolidation" in Note 1 in the Notes to consolidated financial statements, the fund consolidates its investment in John Hancock Asset-Based Lending US Aircraft Delaware Subsidiary Fund LLC and does not consolidate other taxable subsidiaries. Domestic Taxable Subsidiaries are not eligible to elect treatment as regulated investment companies. The amount of taxes paid by Domestic Taxable Subsidiaries will vary depending on the amount of capital appreciation of its investments and such taxes will reduce a fund shareholders return from an investment in the fund. For any unconsolidated subsidiary, the impact of deferred income taxes will be incorporated into the market value of the investment. Upon the sale of an investment, the Domestic Taxable Subsidiaries may be liable for previously deferred taxes.

As of October 31, 2025, the fund had no uncertain tax positions that would require consolidated financial statement recognition, derecognition or disclosure. The fund's federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

The components of the fund's income tax provision (benefit) for the year ended October 31, 2025, are as follows:

---

| | |
|:---|:---|
| Current income tax (benefit) |  |
| Federal | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **State and local** | &nbsp;&nbsp;&nbsp;&nbsp;**$5036** |
| **Total Current income tax (benefit)** | &nbsp;&nbsp;&nbsp;&nbsp;**$5036** |
| Deferred income tax |  |
| Federal | &nbsp;&nbsp;$177551 |
| State and local | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10758 |

---

\| JOHN HANCOCK Marathon Asset-Based Lending Fund 58

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---

| | |
|:---|:---|
| **Total deferred income tax (benefit)** | &nbsp;&nbsp;&nbsp;**$188309** |
| **Provision for income taxes** | &nbsp;&nbsp;&nbsp;**$193345** |
| The provision for income taxes is reconciled to the amount determined by applying the statutory federal income tax rate to income before taxes as follows: |  |
| Federal income tax at the statutory rate | &nbsp;&nbsp;&nbsp;&nbsp;$186154 |
| State income tax (net of federal benefit) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12478 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5287) |
| **Provision for income taxes** | &nbsp;&nbsp;&nbsp;**$193345** |
| Amounts reported in the consolidated financial statements and the tax basis of assets and liabilities result in temporary differences. The deferred tax assets (liabilities) consist of the following: |  |
| Deferred tax assets |  |
| Net operating loss | &nbsp;&nbsp;&nbsp;&nbsp;$382007 |
| Audit fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3852 |
| Deferred tax liabilities |  |
| Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;$(791190) |
| **Total** | &nbsp;&nbsp;**$(405331)** |

---

**Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The fund generally declares and pays dividends quarterly. Capital gain distributions, if any, are typically distributed annually.**

The tax character of distributions for the years ended October 31, 2025 and 2024 was as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**October 31, 2025** | &nbsp;&nbsp;&nbsp;**October 31, 2024** |
| Ordinary income | &nbsp;&nbsp;&nbsp;&nbsp;$15987824 | &nbsp;&nbsp;&nbsp;&nbsp;$10569110 |
| Long-term capital gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23833 |
| **Total** | &nbsp;&nbsp;**$15987824** | &nbsp;&nbsp;**$10592943** |

---

Distributions paid by the fund with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of October 31, 2025, the components of distributable earnings on a tax basis consisted of $3,400,359 of undistributed ordinary income.

Such distributions and distributable earnings, on a tax basis, if any, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the fund's consolidated financial statements as a return of capital.

Capital accounts within the consolidated financial statements are adjusted for permanent book-tax differences at fiscal year end. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to taxable subsidiary, impairment adjustment and non-deductible start up costs.

#### Note 3 — Derivative instruments
The fund may invest in derivatives in order to meet its investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced

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underlying instrument. Specifically, the fund is exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.

Derivatives which are typically traded through the OTC market are regulated by the Commodity Futures Trading Commission (the CFTC). Derivative counterparty risk is managed through an ongoing evaluation of the creditworthiness of all potential counterparties and, if applicable, designated clearing organizations. The fund attempts to reduce its exposure to counterparty risk for derivatives traded in the OTC market, whenever possible, by entering into an International Swaps and Derivatives Association (ISDA) Master Agreement with each of its OTC counterparties. The ISDA gives each party to the agreement the right to terminate all transactions traded under the agreement if there is certain deterioration in the credit quality or contractual default of the other party, as defined in the ISDA. Upon an event of default or a termination of the ISDA, the non-defaulting party has the right to close out all transactions and to net amounts owed.

As defined by the ISDA, the fund or its subsidiary may have collateral agreements with certain counterparties to mitigate counterparty risk on OTC derivatives. Subject to established minimum levels, collateral for OTC transactions is generally determined based on the net aggregate unrealized gain or loss on contracts with a particular counterparty. Collateral pledged to the fund, if any, is held in a segregated account by a third-party agent or held by the custodian bank for the benefit of the fund and can be in the form of cash or debt securities issued by the U.S. government or related agencies; collateral posted by the fund, if any, for OTC transactions is held in a segregated account at the fund's custodian and is noted in the accompanying Consolidated Fund's investments, or if cash is posted, on the Consolidated statement of assets and liabilities. The fund's risk of loss due to counterparty risk is equal to the asset value of outstanding contracts offset by collateral received.

Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a fund than OTC transactions. The exchange or clearinghouse stands between the fund and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.

**Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Consolidated statement of assets and liabilities. Use of long futures contracts subjects the fund to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the fund to unlimited risk of loss.**

Upon entering into a futures contract, the fund is required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by the fund, if any, is detailed in the Consolidated statement of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the fund, if any, are identified in the Consolidated Fund's investments. Subsequent payments, referred to as variation margin, are made or received by the fund periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the fund. When the contract is closed, the fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

During the year ended October 31, 2025, the fund used futures contracts to manage against changes in interest rates. The fund held futures contracts with USD notional values ranging up to $11.8 million, as measured at each quarter end. There were no open futures contracts as of October 31, 2025.

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**Forward foreign currency contracts. A forward foreign currency contract is an agreement between two parties to buy and sell specific currencies at a price that is set on the date of the contract. The forward contract calls for delivery of the currencies on a future date that is specified in the contract. Forwards are typically traded OTC. Risks related to the use of forwards include the possible failure of counterparties to meet the terms of the forward agreement, the failure of the counterparties to timely post collateral if applicable, and the risk that currency movements will not favor the fund thereby reducing the fund's total return, and the potential for losses in excess of the amounts recognized on the Consolidated statement of assets and liabilities.** 

The market value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in value is recorded by the fund as an unrealized gain or loss. Realized gains or losses, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, are recorded upon delivery or receipt of the currency or settlement with the counterparty.

During the year ended October 31, 2025, the fund used forward foreign currency contracts to manage against changes in foreign currency exchange rates. The fund held forward foreign currency contracts with USD notional values ranging up to $8.0 million, as measured at each quarter end.

**Options. There are two types of options, put options and call options. Options are traded either OTC or on an exchange. A call option gives the purchaser of the option the right to buy (and the seller the obligation to sell) the underlying asset at the exercise price. A put option gives the purchaser of the option the right to sell (and the writer the obligation to buy) the underlying asset at the exercise price. Writing puts and buying calls may increase the fund's exposure to changes in the value of the underlying instrument. Buying puts and writing calls may decrease the fund's exposure to such changes. Risks related to the use of options include the loss of premiums on purchased options, possible illiquidity of the options markets, trading restrictions imposed by an exchange and movements in underlying security values, and for written options, potential losses in excess of the amounts recognized on the Consolidated statement of assets and liabilities. In addition, OTC options are subject to the risks of all OTC derivatives contracts.** 

Purchased options are included in the Fund's investments and are subsequently "marked-to-market" to reflect current market value. If a purchased option expires, the fund realizes a loss equal to the premium paid for the option. Premiums paid for purchased options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying asset transaction to determine the realized gain (loss).

During the year ended October 31, 2025, the fund used purchased options contracts to manage against changes in interest rates. The fund held purchased options contracts with market values ranging up to $20,000, as measured at each quarter end. There were no open purchased options contracts as of October 31, 2025.

#### Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the fund and its subsidiary at October 31, 2025 by risk category:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Risk** | &nbsp;&nbsp;**Consolidated statement of assets<br> and liabilities<br> location** | &nbsp;&nbsp;**Financial<br> instruments<br> location** | &nbsp;&nbsp;**Assets<br> derivatives<br> fair value** | &nbsp;&nbsp;**Liabilities<br> derivatives<br> fair value** |
| Currency | Unrealized appreciation (depreciation) on forward foreign currency contracts | Forward foreign currency contracts | $135082 | $(213396) |

---

For financial reporting purposes, the fund and its subsidiary do not offset OTC derivative assets or liabilities that are subject to master netting arrangements, as defined by the ISDAs, in the Consolidated statement of assets and liabilities. In the event of default by the counterparty or a termination of the agreement, the ISDA allows an offset of amounts across the various transactions between the fund and the applicable counterparty.

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#### Effect of derivative instruments on the Consolidated statement of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended October 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Consolidated statement of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Consolidated statement of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Consolidated statement of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Consolidated statement of operations location - Net realized gain (loss) on:** |
| **Risk** | &nbsp;&nbsp;&nbsp;**Unaffiliated<br> investments and<br> foreign currency<br> transactions<sup>1</sup>** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Forward foreign<br> currency contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;$(41777) | &nbsp;&nbsp;&nbsp;&nbsp;$59822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$18045 |
| Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(30270) | &nbsp;&nbsp;&nbsp;&nbsp;(30270) |
| **Total** | &nbsp;&nbsp;&nbsp;**$(41777)** | &nbsp;&nbsp;&nbsp;**$59822** | &nbsp;&nbsp;&nbsp;**$(30270)** | &nbsp;&nbsp;&nbsp;**$(12225)** |

---

<sup>1</sup> Realized gain (loss) associated with purchased options is included in this caption on the Statement of operations.

The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended October 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Consolidated statement of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Consolidated statement of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Consolidated statement of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Consolidated statement of operations location - Change in net unrealized appreciation (depreciation) of:** |
| **Risk** | &nbsp;&nbsp;&nbsp;**Unaffiliated<br> investments and<br> translation of assets<br> and liabilities in<br> foreign currencies<sup>1</sup>** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Forward foreign<br> currency contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;$15706 | &nbsp;&nbsp;&nbsp;&nbsp;$(138648) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(122942) |
| Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(78314) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78314) |
| **Total** | &nbsp;&nbsp;&nbsp;**$15706** | &nbsp;&nbsp;&nbsp;**$(138648)** | &nbsp;&nbsp;&nbsp;**$(78314)** | &nbsp;&nbsp;&nbsp;**$(201256)** |

---

<sup>1</sup> Change in unrealized appreciation (depreciation) associated with purchased options is included in this caption on the Statement of operations.

#### Note 4 — Guarantees and indemnifications
Under the fund's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the fund. Additionally, in the normal course of business, the fund enters into contracts with service providers that contain general indemnification clauses. The fund's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the fund that have not yet occurred. The risk of material loss from such claims is considered remote.

#### Note 5 — Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the fund. John Hancock Investment Management Distributors LLC (the Distributor), an affiliate of the Advisor, serves as distributor and principal underwriter of the fund. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.

**Management fee. The fund has an investment management agreement with the Advisor under which the fund pays the Advisor a fee, calculated and paid monthly, at an annual rate of 1.35% of the fund's average monthly managed assets (managed assets means the total assets of the fund (including any assets attributable to any**

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preferred shares that may be issued or to indebtedness), minus the fund's liabilities incurred in the normal course of operations other than liabilities relating to indebtedness). Pursuant to a subadvisory agreement, the Advisor (and not the fund) has agreed to pay a subadvisory fee directly to Marathon Asset Management LP (the Subadvisor).

The Advisor contractually agreed to waive a portion of its management fee and/or reimburse expenses for the fund and certain other John Hancock funds according to an asset level breakpoint schedule that is based on the aggregate managed assets of all the funds participating in the waiver or reimbursement. This waiver is allocated proportionally among the participating funds. During the year ended October 31, 2025, this waiver amounted to 0.01% of the fund's average monthly managed assets, on an annualized basis. This agreement expires on July 31, 2027, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.

The Advisor has contractually agreed to reduce its management fee for the fund or, if necessary, make payment to the fund, in an amount equal to the amount by which the following expenses of the fund, incurred in the ordinary course of the fund's business, exceed 0.60% percent of average monthly net assets (on an annualized basis) of the fund: (a) administrative fees; (b) custody and accounting fees; (c) audit fees; (d) legal fees; (e) independent trustee fees; (f) pricing services fees; (g) blue sky fees; (h) insurance premiums; (i) printing costs; (j) registration and filing expenses; (k) organization and offering expenses; (l) transfer agent fees and service fees; and (m) other miscellaneous ordinary expenses, but excluding management and incentive fees, interest expense, 12b-1 fees, any cashiering or other investment servicing fees; litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the business of the fund; taxes; short dividends, acquired fund fees and expenses (based on indirect net expenses associated with the fund's investments in underlying investment companies); class specific expenses; portfolio brokerage commissions; expenses related to, or incurred by, special purpose vehicles or other subsidiaries of the fund held directly or indirectly by the fund; expenses, including legal expenses, related to investments of the fund; and expenses, including legal expenses, related to co-investment transactions involving the fund. This agreement expires on February 28, 2026, unless renewed by mutual agreement of the Advisor and the fund based upon a determination that this is appropriate under the circumstances at that time.

For the year ended October 31, 2025, the expense reductions described above amounted to the following:

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;**Expense reduction** |
| Class I | &nbsp;&nbsp;$1330714 |
| Class D | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2859 |

---

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;**Expense reduction** |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$695 |
| **Total** | &nbsp;&nbsp;**$1334268** |

---

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended October 31, 2025, were equivalent to a net annual effective rate of 0.87% of the fund's average monthly managed assets.

**Incentive fee. The fund has agreed to pay the Advisor an Incentive Fee based upon pre-incentive fee net investment income. The incentive fee shall be calculated and accrued on a monthly basis while being determined and payable in arrears as of the end of each fiscal quarter. The calculation of the incentive fee for each fiscal quarter is as follows:**

&nbsp;&nbsp;&nbsp;&nbsp;• No incentive fee shall be payable in any fiscal quarter in which the pre-incentive fee net investment income attributable to each class does not exceed a quarterly return of 1.25% per quarter based on each class's average beginning monthly net assets for the applicable quarterly payment period (calculated in accordance with US GAAP and gross of any accrued (but unpaid) performance fee if applicable during the payment period) (the "Quarterly Return"), or 5.00% annualized;

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&nbsp;&nbsp;&nbsp;&nbsp;• All pre-incentive fee net investment income attributable to each class (if any) that exceeds the Quarterly Return, but is less than or equal to 1.4286% of the average beginning monthly net assets of that each class (calculated in accordance with US GAAP and gross of any accrued (but unpaid) performance fee if applicable during the payment period) for the fiscal quarter (5.714% annualized), shall be payable to the Advisor; and

&nbsp;&nbsp;&nbsp;&nbsp;• For any fiscal quarter in which pre-incentive fee net investment income attributable to each class exceeds 1.4286% of each class's average beginning monthly net assets (calculated in accordance with US GAAP and gross of any accrued (but unpaid) performance fee if applicable during the payment period), the incentive fee with respect to each class shall equal 12.5% of pre-incentive fee net investment Income attributable to each class.

The incentive fee for the year ended October 31, 2025 amounted to $2,437,219.

**Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended October 31, 2025, amounted to an annual rate of 0.02% of the fund's average monthly net assets.**

**Distribution and service plans. The fund has a distribution agreement with the Distributor. The fund has adopted distribution and service plans for certain classes pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the fund. In addition, under a service plan for Class D shares and Class S shares, the fund pays for certain other services. The fund may pay distribution and service fees, expressed as an annual percentage of average monthly net assets for each class of the fund's shares, up to 0.25% for Class D shares and 0.85% (including up to 0.25% for service fees) for Class S shares.**

**Sales charges. Class D shares may be subject to a sales charge of up to 1.50% and Class S shares may be subject to a sales charge of up to 3.50%. Such sales load will be subtracted from the investment amount and will not form part of an investor's investment in the fund. The sales load may be waived in certain circumstances at the Advisor's discretion. During the year ended October 31, 2025, no sales charges were assessed.**

**Early repurchase fee. For all share classes, a 2.00% early repurchase fee payable to the fund will be charged with respect to the repurchase of a shareholder's shares at any time prior to the day immediately preceding the one-year anniversary of the shareholder's purchase of the Shares (on a "first in-first out" basis). The early repurchase fee will be retained by the fund for the benefit of the remaining shareholders.**

#### Class level expenses. Class level expenses for the year ended October 31, 2025 were as follows:

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;**Distribution and service fees** |
| Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Class D | &nbsp;&nbsp;&nbsp;$1219 |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944 |
| **Total** | &nbsp;&nbsp;**$2163** |

---

#### Trustee expenses. The fund compensates each Trustee who is not an employee of the Advisor or its affiliates.
**Co-investment. Pursuant to an Exemptive Order issued by the SEC on September 26, 2022, the fund is permitted to negotiate certain investments with entities with which it would be restricted from doing so under the 1940 Act, such as the Subadvisor and its affiliates. The fund is permitted to co-invest with affiliates if certain conditions are met. Under the order, the fund will be permitted to co-invest with affiliates if a "required majority" (as defined in the 1940 Act) of the fund's independent Trustees make certain conclusions in connection with a co-investment transaction, including that (1) the terms of the transactions, including the consideration to be paid,**

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are reasonable and fair to the fund and its shareholders and do not involve overreaching of the fund or its shareholders by any person concerned and (2) the transaction is consistent with the interests of shareholders and is consistent with the fund's investment objective and strategies. During the year ended October 31, 2025, the fund did not enter into any investments pursuant to this exemptive order.

#### Note 6 — Fund share transactions
The fund currently accepts purchases of shares as of the last business day of each calendar month. Transactions in fund shares for the years ended October 31, 2025 and 2024 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Year Ended 10-31-25** | &nbsp;&nbsp;&nbsp;**Year Ended 10-31-25** | &nbsp;&nbsp;&nbsp;**Year Ended 10-31-24** | &nbsp;&nbsp;&nbsp;**Year Ended 10-31-24** |
|  | &nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;3903309 | &nbsp;&nbsp;&nbsp;&nbsp;$79876943 | &nbsp;&nbsp;&nbsp;&nbsp;2931140 | &nbsp;&nbsp;&nbsp;&nbsp;$59114692 |
| Issued pursuant to Dividend Reinvestment Plan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2992671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542329 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(500995) | &nbsp;&nbsp;&nbsp;&nbsp;(10222859) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12855) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(260959) |
| **Net increase** | &nbsp;&nbsp;&nbsp;**3549161** | &nbsp;&nbsp;&nbsp;**$72646755** | &nbsp;&nbsp;&nbsp;**2994741** | &nbsp;&nbsp;&nbsp;**$60396062** |
| **Class D shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$65000 |
| Issued pursuant to Dividend Reinvestment Plan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1617 |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**42281** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$867917** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3257** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$66617** |
| **Class S shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$183350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Issued pursuant to Dividend Reinvestment Plan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9103** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$188137** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Total net increase** | &nbsp;&nbsp;**3600545** | &nbsp;&nbsp;**$73702809** | &nbsp;&nbsp;**2997998** | &nbsp;&nbsp;**$60462679** |

---

Affiliates of the fund owned 19%, 5% and 22% of shares of Class I, Class D and Class S, respectively, on October 31, 2025. As of October 31, 2025, the Subadvisor held 14% of the fund (Class I). Such concentration of shareholders' capital could have a material effect on the fund if such shareholders redeem from the fund.

At the sole discretion of the Board of Trustees and provided that it is in the best interests of the fund and shareholders to do so, the fund intends to provide a limited degree of liquidity to the shareholders by conducting repurchase offers or take any other action permitted by the tender offer rules under 1934 Act, and described in the written tender offer notice that will be provided to shareholders for each repurchase offer. In determining whether the fund should offer to repurchase shares from shareholders (generally no more than 5% of shares outstanding), the Board of Trustees will consider the recommendations of the Advisor as to the timing of such an offer, as well as a variety of operational, business and economic factors. The Advisor currently expects that it will generally recommend to the Board of Trustees that the fund offer to repurchase shares from shareholders quarterly with tender offer valuation dates occurring on the last business day of March, June, September and December (each, a "Valuation Date"); however, there can be no assurance that any such tender offers will be conducted on a quarterly basis or at all. The fund is not required to conduct tender offers and may be less likely to conduct tenders during periods of exceptional market conditions. The fund conducted quarterly repurchase offers during the year ended October 31, 2025. The fund offered to repurchase shares in an amount up to $8,700,000, $9,100,000,

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$11,100,000 and $11,490,000 as of the valuation dates for the repurchase offers, December 31, 2024 ($20.32), March 31, 2025 ($20.42), June 30, 2025 ($20.38) and September 30, 2025 ($20.40), respectively. $10,222,859 and 500,995 shares for Class I were tendered and accepted by the fund.

#### Note 7 — Purchase and sale of securities
Purchases and sales of securities, other than short-term investments, amounted to $249,556,358 and $152,784,449, respectively, for the year ended October 31, 2025.

#### Note 8 — Investment by affiliated funds
Certain investors in the fund are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the fund for the purpose of exercising management or control; however, this investment may represent a significant portion of the fund's net assets. At October 31, 2025, funds within the John Hancock group of funds complex held 24.1% of the fund's net assets. The following fund(s) had an affiliate ownership of 5% or more of the fund's net assets:

---

| | |
|:---|:---|
| **Fund** | &nbsp;&nbsp;&nbsp;**Affiliated Concentration** |
| Manulife Private Credit Plus Fund | &nbsp;&nbsp;24.1% |

---

#### Note 9 — Investments in affiliates
As of October 31, 2025, investments in affiliates consist of the following:

• The fund holds 100% of the profit participating notes issued by JH Aircraft Leasing 4535 (Ireland) Designated Activity Company.

• The fund holds 100% of the limited liability company interests in JH Finance LeaseCo, LLC.

• The fund holds 100% of the limited liability company interests in JH LiftCo, LLC.

• The fund holds 100% of the limited liability company interests in JH REO Trust

• The fund holds 100% of the limited liability company interests in JH Arbor Leasing, LLC.

• The fund holds 100% of the limited liability company interests in JH Rail, LLC. As of October 31, 2025, JH Rail, LLC had outstanding borrowings of $27,511,121 through a Master Loan and Security
Agreement, which provides for loans and extensions of credit to JH Rail, LLC. The weighted average interest rate was 5.74% as of October 31, 2025.

• The fund holds 100% of the beneficial ownership interest in MSN 803 Trust as an owner participant.

Information regarding the fund's fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the fund, if any, is as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold/Return<br> of capital** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| JH Aircraft Leasing 4535 (Ireland) Designated Activity Company | 20897863 | $21420071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $(20129779) |  | $(710928) | $4016221 |  | $579364 |
| JH Arbor Leasing LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $9530956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(435133) |  | (619212) | 539295 |  | 8476611 |

---

\| JOHN HANCOCK Marathon Asset-Based Lending Fund 66

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---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold/Return<br> of capital** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| JH Finance LeaseCo LLC |  | $7392282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $(1521424) | $6171 | $(51234) | $788713 |  | $5825795 |
| JH Liftco LLC |  | &nbsp;&nbsp;6143962 | $6487200 | &nbsp;&nbsp;(1161000) |  | 401519 |  |  | 11871681 |
| JH Rail LLC |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 17721252 | &nbsp;&nbsp;(8916375) |  | (267536) |  |  | 8537341 |
| JH REO Trust |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | 1099 |  |  | 146099 |
| MSN 803 Trust |  | &nbsp;&nbsp;8326774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(608788) |  | 1238577 | 216212 |  | 8956563 |
|  |  |  |  |  | **$6171** | **$(7715)** | **$5560441** | **—** | **$44393454** |

---

#### Note 10 — Segment reporting
The management committee of the Advisor acts as the fund's chief operating decision maker (the CODM), assessing performance and making decisions about resource allocation. The fund represents a single operating segment, as the CODM monitors and assesses the operating results of the fund as a whole, and the fund's long-term strategic asset allocation is managed in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the portfolio management team of the fund's subadvisor. Segment assets are reflected in the Consolidated statement of assets and liabilities as "Total assets", which consists primarily of total investments at value. The financial information, including the measurement of profit and loss and significant expenses, provided to and reviewed by the CODM is consistent with that presented within the Consolidated statement of operations, which includes "Increase (decrease) in net assets from operations", Consolidated statements of changes in net assets, which includes "Increase (decrease) in net assets from fund share transactions", and Consolidated financial highlights, which includes total return and income and expense ratios.

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![](img223556326.gif)

![](img4ba4a4937.gif)

![](imgf917bb238.gif)

#### Report of Independent Registered Public Accounting Firm
To the Shareholders and Board of Trustees of John Hancock Marathon Asset-Based Lending Fund

#### Opinion on the Financial Statements
We have audited the accompanying consolidated statement of assets and liabilities of John Hancock Marathon Asset-Based Lending Fund (formerly John Hancock Asset-Based Lending Fund) (the "Fund"), including the consolidated Fund's investments, as of October 31, 2025, and the related consolidated statements of operations and cash flows for the year then ended, the consolidated statements of changes in net assets for each of the two years in the period then ended, and the consolidated financial highlights for each of the three years in the period then ended and the period from July 11, 2022 (commencement of operations) to October 31, 2022 and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the consolidated financial position of the Fund at October 31, 2025, the consolidated results of its operations and cash flows for the year then ended, the consolidated changes in its net assets for each of the two years in the period then ended and its consolidated financial highlights for each of the three years in the period then ended and the period from July 11, 2022 (commencement of operations) to October 31, 2022, in conformity with U.S. generally accepted accounting principles.

#### Basis for Opinion
These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of the Fund's internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of October 31, 2025, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

![](img4f571eb49.gif)

We have served as the auditor of one or more John Hancock investment companies since 2019.

December 23, 2025

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Tax information

(Unaudited)

For federal income tax purposes, the following information is furnished with respect to the distributions of the fund, if any, paid during its taxable year ended October 31, 2025.

The fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.

The fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.

The fund reports the maximum amount allowable as Section 163(j) Interest Dividends.

The fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).

Eligible shareholders will be mailed a 2025 Form 1099-DIV in early 2026. This will reflect the tax character of all distributions paid in calendar year 2025.

#### Please consult a tax advisor regarding the tax consequences of your investment in the fund.
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#### ADDITIONAL INFORMATION

------

Unaudited

The fund is a continuously offered non-diversified, closed-end management investment company, shares of which were initially offered to the public in July 2022.

#### Dividends and distributions
During the year ended October 31, 2025, distributions from net investment income totaling $1.4580, $1.4069 and $1.2842 per share were paid to shareholders for Class I, Class D and Class S, respectively. The dates of payments and the amounts per share were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Payment Date** | &nbsp;&nbsp;&nbsp;**Class I** | &nbsp;&nbsp;&nbsp;**Class D** | &nbsp;&nbsp;&nbsp;**Class S** |
| January 23, 2025 | $0.3679 | $0.3551 | $0.3243 |
| April 22, 2025 | $0.2328 | $0.2202 | $0.1899 |
| July 22, 2025 | $0.4279 | $0.4151 | $0.3845 |
| October 21, 2025 | $0.4294 | $0.4165 | $0.3855 |
| **Total** | &nbsp;&nbsp;**$1.4580** | &nbsp;&nbsp;**$1.4069** | &nbsp;&nbsp;**$1.2842** |

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#### Dividend reinvestment plan
Pursuant to the Dividend Reinvestment Plan (DRP) established by the fund, each shareholder will automatically be a participant under the DRP and have all income distributions, whether dividend distributions or capital gains distributions, automatically reinvested in additional shares. Election not to participate in the DRP and to receive all income distributions, whether dividend distributions or capital gains distributions, in cash may be made by notice to a shareholder's intermediary (who should be directed to inform the fund). A shareholder is free to change this election at any time. If, however, a shareholder elects to change its election within 95 days prior to a distribution, the request will be effective only with respect to distributions after the 95-day period. A shareholder whose shares are registered in the name of a nominee (such as an intermediary) must contact the nominee regarding its status under the DRP, including whether such nominee will participate on such shareholder's behalf as such nominee will be required to make any such election.

Generally, for U.S. federal income tax purposes, shareholders receiving shares under the DRP will be treated as having received a distribution equal to amount payable to them in cash as a distribution had the shareholder not participated in the DRP.

Shares will be issued pursuant to the DRP at their NAV determined on the next valuation date following the ex-dividend date (the last date of a dividend period on which an investor can purchase shares and still be entitled to receive the dividend). There is no sales load or other charge for reinvestment. A request for change of participation/non-participation status in the DRP must be received by the fund within the above timeframe to be effective for that dividend or capital gain distribution. The fund may terminate the DRP at any time upon written notice to the participants in the DRP. The fund may amend the DRP at any time upon 30 days' written notice to the participants. Any expenses of the DRP will be borne by the fund.

A shareholder holding shares that participate in the DRP in a brokerage account may not be able to transfer the shares to another broker and continue to participate in the DRP. For further information on the DRP contact the fund at 800-225-6020.

#### Shareholder communication and assistance
If you have any questions concerning the fund, we will be pleased to assist you. If you hold shares in your own name and not with a brokerage firm, please address all notices, correspondence, questions or other communications regarding the fund to the transfer agent at:

\| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 70

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#### Regular Mail: SS&C GIDS, Inc. 80 Lamberton Road Windsor, Connecticut 06095

#### Registered or Overnight Mail: SS&C GIDS, Inc. 80 Lamberton Road Windsor, Connecticut 06095
If your shares are held with a brokerage firm, you should contact that firm, bank or other nominee for assistance.

71 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \|

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Trustees and Officers

This chart provides information about the Trustees and Officers who oversee your John Hancock fund. Officers elected by the Trustees manage the day-to-day operations of the fund and execute policies formulated by the Trustees.

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Independent Trustees** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Name, year of birth<br> Position(s) held with Fund<br> Principal occupation(s) and other<br> directorships during past 5 years** | &nbsp;&nbsp;&nbsp;**Trustee<br> of the<br> Trust<br> since<sup>1</sup>** | &nbsp;&nbsp;&nbsp;**Number of John<br> Hancock funds<br> overseen by<br> Trustee** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Hassell H. McClellan,<sup>2</sup> Born: 1945** | &nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;**179** |
| &nbsp;&nbsp;&nbsp;Trustee and Chairperson of the Board |  |  |
| &nbsp;&nbsp;&nbsp;Trustee of Berklee College of Music (since 2022); Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | &nbsp;&nbsp;&nbsp;Trustee of Berklee College of Music (since 2022); Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | &nbsp;&nbsp;&nbsp;Trustee of Berklee College of Music (since 2022); Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. |
| &nbsp;&nbsp;&nbsp;&nbsp;**William K. Bacic,<sup>2,4</sup> Born: 1956** | &nbsp;&nbsp;&nbsp;**2025** | &nbsp;&nbsp;&nbsp;**176** |
| &nbsp;&nbsp;&nbsp;Trustee |  |  |
| &nbsp;&nbsp;&nbsp;Director, Audit Committee Chairman, and Risk Committee Member, DWS USA Corp. (formerly, Deutsche Asset Management) (2018-2024); Senior Partner, Deloitte & Touche LLP (1978- retired 2017, including prior positions), specializing in the investment management industry. Trustee of various trusts within the John Hancock Fund Complex (since 2025). | &nbsp;&nbsp;&nbsp;Director, Audit Committee Chairman, and Risk Committee Member, DWS USA Corp. (formerly, Deutsche Asset Management) (2018-2024); Senior Partner, Deloitte & Touche LLP (1978- retired 2017, including prior positions), specializing in the investment management industry. Trustee of various trusts within the John Hancock Fund Complex (since 2025). | &nbsp;&nbsp;&nbsp;Director, Audit Committee Chairman, and Risk Committee Member, DWS USA Corp. (formerly, Deutsche Asset Management) (2018-2024); Senior Partner, Deloitte & Touche LLP (1978- retired 2017, including prior positions), specializing in the investment management industry. Trustee of various trusts within the John Hancock Fund Complex (since 2025). |
| &nbsp;&nbsp;&nbsp;&nbsp;**William H. Cunningham,<sup>2,4</sup> Born: 1944** | &nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;**176** |
| &nbsp;&nbsp;&nbsp;Trustee |  |  |
| &nbsp;&nbsp;&nbsp;Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Chairman of the Board, Nuclein (since 2020); Director, Southwest Airlines (2000-2024). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | &nbsp;&nbsp;&nbsp;Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Chairman of the Board, Nuclein (since 2020); Director, Southwest Airlines (2000-2024). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | &nbsp;&nbsp;&nbsp;Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Chairman of the Board, Nuclein (since 2020); Director, Southwest Airlines (2000-2024). Trustee of various trusts within the John Hancock Fund Complex (since 1986). |
| &nbsp;&nbsp;&nbsp;&nbsp;**Grace K. Fey,<sup>2</sup> Born: 1946** | &nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;**179** |
| &nbsp;&nbsp;&nbsp;Trustee |  |  |
| &nbsp;&nbsp;&nbsp;Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | &nbsp;&nbsp;&nbsp;Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | &nbsp;&nbsp;&nbsp;Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Non-Independent Trustees<sup>3</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Name, year of birth<br> Position(s) held with Fund<br> Principal occupation(s)<br> during past 5 years** | &nbsp;&nbsp;&nbsp;**Trustee<br> of the<br> Fund<br> since<sup>1</sup>** | &nbsp;&nbsp;&nbsp;**Number of John<br> Hancock funds<br> overseen by<br> Trustee** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Andrew G. Arnott, Born: 1971** | &nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;**176** |
| &nbsp;&nbsp;&nbsp;Non-Independent Trustee |  |  |
| &nbsp;&nbsp;&nbsp;Global Head of Institutional for Manulife (since 2025); Global Head of Retail for Manulife (2022-2025); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (2018-2023); Director and Chairman, John Hancock Investment Management LLC (2005-2023, including prior positions); Director and Chairman, John Hancock Variable Trust Advisers LLC (2006-2023, including prior positions); Director and Chairman, John Hancock Investment Management Distributors LLC (2004-2023, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | &nbsp;&nbsp;&nbsp;Global Head of Institutional for Manulife (since 2025); Global Head of Retail for Manulife (2022-2025); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (2018-2023); Director and Chairman, John Hancock Investment Management LLC (2005-2023, including prior positions); Director and Chairman, John Hancock Variable Trust Advisers LLC (2006-2023, including prior positions); Director and Chairman, John Hancock Investment Management Distributors LLC (2004-2023, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | &nbsp;&nbsp;&nbsp;Global Head of Institutional for Manulife (since 2025); Global Head of Retail for Manulife (2022-2025); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (2018-2023); Director and Chairman, John Hancock Investment Management LLC (2005-2023, including prior positions); Director and Chairman, John Hancock Variable Trust Advisers LLC (2006-2023, including prior positions); Director and Chairman, John Hancock Investment Management Distributors LLC (2004-2023, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Principal officers who are not Trustees** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Name, year of birth<br> Position(s) held with Fund<br> Principal occupation(s)<br> during past 5 years** | &nbsp;&nbsp;&nbsp;**Current<br> Position(s)<br> with the<br> Fund<br> since** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Kristie M. Feinberg,<sup>5</sup> Born: 1975** | &nbsp;&nbsp;&nbsp;**2023** |
| &nbsp;&nbsp;&nbsp;President (Chief Executive Officer and Principal Executive Officer) |  |
| &nbsp;&nbsp;&nbsp;Head of Retail, Manulife Investment Management (since 2025); Head of Wealth & Asset Management, U.S. and Europe, for John Hancock and Manulife (2023–2025); Director and Chairman, John Hancock Investment Management LLC (since 2023); Director and Chairman, John Hancock Variable Trust Advisers LLC (since 2023); Director and Chairman, John Hancock Investment Management Distributors LLC (since 2023); CFO and Global Head of Strategy, Manulife Investment Management (2021–2023, including prior positions); CFO Americas & Global Head of Treasury, Invesco, Ltd., Invesco US (2019–2020, including prior positions); Senior Vice President, Corporate Treasurer and Business Controller, Oppenheimer Funds (2001–2019, including prior positions); President (Chief Executive Officer and Principal Executive Officer) of various trusts within the John Hancock Fund Complex (since 2023, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2025). | &nbsp;&nbsp;&nbsp;Head of Retail, Manulife Investment Management (since 2025); Head of Wealth & Asset Management, U.S. and Europe, for John Hancock and Manulife (2023–2025); Director and Chairman, John Hancock Investment Management LLC (since 2023); Director and Chairman, John Hancock Variable Trust Advisers LLC (since 2023); Director and Chairman, John Hancock Investment Management Distributors LLC (since 2023); CFO and Global Head of Strategy, Manulife Investment Management (2021–2023, including prior positions); CFO Americas & Global Head of Treasury, Invesco, Ltd., Invesco US (2019–2020, including prior positions); Senior Vice President, Corporate Treasurer and Business Controller, Oppenheimer Funds (2001–2019, including prior positions); President (Chief Executive Officer and Principal Executive Officer) of various trusts within the John Hancock Fund Complex (since 2023, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2025). |
| &nbsp;&nbsp;&nbsp;&nbsp;**Fernando A. Silva, Born: 1977** | &nbsp;&nbsp;&nbsp;**2022** |
| &nbsp;&nbsp;&nbsp;Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) |  |
| &nbsp;&nbsp;&nbsp;Director, Fund Administration and Assistant Treasurer, John Hancock Funds (2016-2020); Assistant Treasurer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Assistant Vice President, John Hancock Life & Health Insurance Company, John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York (since 2021); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2024) . | &nbsp;&nbsp;&nbsp;Director, Fund Administration and Assistant Treasurer, John Hancock Funds (2016-2020); Assistant Treasurer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Assistant Vice President, John Hancock Life & Health Insurance Company, John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York (since 2021); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2024) . |
| &nbsp;&nbsp;&nbsp;&nbsp;**Salvatore Schiavone, Born: 1965** | &nbsp;&nbsp;&nbsp;**2022** |
| &nbsp;&nbsp;&nbsp;Treasurer |  |
| &nbsp;&nbsp;&nbsp;Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). | &nbsp;&nbsp;&nbsp;Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). |
| &nbsp;&nbsp;&nbsp;&nbsp;**Christopher (Kit) Sechler, Born: 1973** | &nbsp;&nbsp;&nbsp;**2022** |
| &nbsp;&nbsp;&nbsp;Secretary and Chief Legal Officer |  |
| &nbsp;&nbsp;&nbsp;Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). | &nbsp;&nbsp;&nbsp;Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). |
| &nbsp;&nbsp;&nbsp;&nbsp;**Trevor Swanberg, Born: 1979** | &nbsp;&nbsp;&nbsp;**2022** |
| &nbsp;&nbsp;&nbsp;Chief Compliance Officer |  |
| &nbsp;&nbsp;&nbsp;Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). | &nbsp;&nbsp;&nbsp;Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |

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The business address for all Trustees and Officers is 200 Berkeley Street, Boston, Massachusetts 02116-5023.

The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trust and is available without charge, upon request, by calling 800-225-6020.

<sup>1</sup> Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee's death, retirement, resignation, or removal.

73 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \|

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<sup>2</sup> Member of the Audit Committee.

<sup>3</sup> The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain of its affiliates.

<sup>4</sup> Mr. Cunningham no longer serves as Trustee effective December 31, 2025. Mr. Bacic serves as Trustee effective January 1, 2026.

<sup>5</sup> Ms. Feinberg serves as President, Chief Executive Officer, and Principal Executive Officer effective September 22, 2025.

\| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 74

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More information

#### Trustees
Hassell H. McClellan, Chairperson\*

Andrew G. Arnott<sup>†</sup>

William K. Bacic\*<sup>,1</sup>

William H. Cunningham\*<sup>,2</sup>

Grace K. Fey\*

#### Officers
Kristie M. Feinberg<sup>3</sup>

*President (Chief Executive Officer and Principal Executive Officer)*

Fernando A. Silva

*Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer)*

Salvatore Schiavone

*Treasurer*

Christopher (Kit) Sechler

*Secretary and Chief Legal Officer*

Trevor Swanberg

*Chief Compliance Officer*

#### Investment advisor
John Hancock Investment Management LLC

#### Subadvisor
Marathon Asset Management LP

#### Portfolio Managers
Ed Cong

Louis Hanover

Andrew Springer

#### Principal distributor
John Hancock Investment Management Distributors LLC

#### Custodian
State Street Bank and Trust Company

#### Transfer agent
SS&C GIDS, Inc.

#### Legal counsel
K&L Gates LLP

#### Independent registered public accounting firm
Ernst & Young LLP

<sup>†</sup> Non-Independent Trustee

<sup>\*</sup> Member of the Audit Committee

<sup>1</sup> Mr. Bacic serves as Trustee effective January 1, 2026.

<sup>2</sup> Mr. Cunningham no longer serves as Trustee effective December 31, 2025.

<sup>3</sup> Ms. Feinberg serves as President, Chief Executive Officer, and Principal Executive Officer effective September 22, 2025.

The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.

All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.

We make this information on your fund, as well as **monthly portfolio holdings**, and other fund details available on our website at jhinvestments.com or by calling 800-225-6020.

The report is certified under the Sarbanes-Oxley Act, which requires closed-end funds and other public companies to affirm that, to the best of their knowledge, the information in their financial reports is fairly and accurately stated in all material respects.

You can also contact us:

75 JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND \|

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**844-292-8018** | &nbsp;&nbsp;**Regular mail:** | &nbsp;&nbsp;**Express mail:** |
| &nbsp;&nbsp;**jhinvestments.com** | &nbsp;&nbsp;John Hancock Alt<br> P.O. Box 219285<br> Kansas City, MO 64121-9285 | &nbsp;&nbsp;John Hancock Alt<br> 801 Pennsylvania Ave, Suite 219285<br> Kansas City, MO 64105-1307 |

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\| JOHN HANCOCK MARATHON ASSET-BASED LENDING FUND 76

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![](img5e14a31e10.gif)

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![](imgc7a9348d11.gif)

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![](img058b85fb12.jpg)

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC

200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

This report is for the information of the shareholders of John Hancock Marathon Asset-Based Lending Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.

MF4947204 P16A 10/25

12/25

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ITEM 2. CODE OF ETHICS.

As of the end of the year, October 31, 2025, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the "Covered Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Grace K. Fey is the audit committee financial expert and is "independent", pursuant to general instructions on Form N-CSR Item 3.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a) Audit Fees

The aggregate fees billed for professional services rendered by the principal accountant for the audits of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to $340,000 and $250,000 for the fiscal years ended October 31, 2025 and October 31, 2024, respectively. These fees were billed to the registrant and were approved by the registrant's audit committee.

(b) Audit-Related Services

Audit-related fees for assurance and related services by the principal accountant are billed to the registrant or to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser ("control affiliates") that provides ongoing services to the registrant. The nature of the services provided was reviews in conjunction with registration statement filings. Amounts billed to the registrant were $5,000 and $5,000 for fiscal years ended October 31, 2025 and October 31, 2024, respectively.

(c) Tax Fees

The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning ("tax fees") amounted to $154,350 and $70,400 for the fiscal years ended October 31, 2025 and October 31, 2024, respectively. The nature of the services comprising the tax fees was the review of the registrant's tax returns and tax distribution requirements. These fees were billed to the registrant and were approved by the registrant's audit committee.

(d) All Other Fees

Other fees amounted to $0 and $0 for the fiscal years ended October 31, 2025 and October 31, 2024, respectively. These fees were approved by the registrant's audit committee.

(e)(1) Audit Committee Pre-Approval Policies and Procedures

The registrant's Audit Committee must pre-approve all audit and non-audit services provided by the independent registered public accounting firm (the "Auditor") relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The registrant's Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of audit-related and non-audit services by the Auditor. The policies and procedures require that any audit- related and non-audit service provided by the Auditor and any non-audit service provided by the Auditor to a fund service provider that relates directly to the operations and financial reporting of a fund are subject to approval by the Audit Committee before such service is provided. Audit-related services provided by the Auditor that are expected to exceed $25,000 per instance/per fund are subject to specific pre-approval by the Audit Committee. Tax services provided by the Auditor that are expected to exceed $30,000 per instance/per fund are subject to specific pre-approval by the Audit Committee.

All audit services, as well as the audit-related and non-audit services that are expected to exceed the amounts stated above, must be approved in advance of provision of the service by formal resolution of the Audit Committee. At the regularly scheduled Audit Committee meetings, the Committee reviews a report summarizing the services, including fees, provided by the Auditor.

(e)(2) Services approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X

Audit-Related Fees, Tax Fees and All Other Fees

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.

(f)According to the registrant's principal accountant for the fiscal year ended October 31, 2025, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.

(g)The aggregate non-audit fees billed by the registrant's principal accountant for non-audit services rendered to the registrant and rendered to the registrant's control affiliates were $3,969,880 for the fiscal year ended October 31, 2025 and $3,013,735 for the fiscal year ended October 31, 2024.

(h)The audit committee of the registrant has considered the non-audit services provided by the registrant's principal accountant to the control affiliates and has determined that the services that were not pre-approved are compatible with maintaining the principal accountant's independence.

(i) Not applicable.

(j) Not applicable.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

The registrant has a separately-designated standing audit committee comprised of independent trustees. The members of the audit committee are as follows:

Grace K. Fey – Chairperson

William H. Cunningham

Hassell H. McClellan

ITEM 6. SCHEDULE OF INVESTMENTS.

(a) Refer to information included in Item 1.

(b) Not applicable.

ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 9. PROXY DISCLOSURE FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

Information included in Item 1, if applicable.

ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

See attached exhibit "Proxy Voting Policies and Procedures".

ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Information about the Marathon Asset Management LP ("Marathon") portfolio managers

Below is a list of the Marathon portfolio managers who share joint responsibility for the day-to-day investment management of the fund. It provides a brief summary of their business careers over the past five years. The information provided is as of the filing date of this N-CSR.

Ed Cong Portfolio Manager

Managed the Fund since inception in 2022 Joined Marathon in 2006

Louis Hanover

Co-Founder, Managing Partner and Chief Investment Officer

Managed the Fund since inception in 2022

Co-Founded Marathon in 1998

Andrew Springer

Senior Portfolio Manager

Managed the Fund since inception in 2022

Joined Marathon in 2003

Portfolio Managers and Other Accounts Managed

The following tables present information regarding accounts other than the fund for which each portfolio manager has day-to-day management responsibilities. Accounts are grouped into three categories: (i) other investment companies, (ii) other pooled investment vehicles, and (iii) other accounts. To the extent that any of these accounts pay advisory fees based on account performance, information on those accounts is specifically broken out. In addition, any assets denominated in foreign currencies have been converted into U.S. dollars using the exchange rates as of the applicable date. Also shown below the chart is each portfolio manager's investment in the fund. The following table reflects approximate information as of October 31, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Registered Investment | Registered Investment | Other Pooled Investment | Other Pooled Investment |  |  |
|  | Companies | Companies |  | Vehicles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Accounts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Accounts |
|  | | Total Assets | | | | Total Assets |
|  | | Total Assets | | | | Total Assets |
|  | Number<br>of<br>Accounts | $Million | Number<br>of<br>Accounts | <br>&nbsp;&nbsp; Total Assets<br>&nbsp;&nbsp; $Million | Number<br>of<br>Accounts | $Million |
| Ed Cong | 1 | $250.5 | 34 | &nbsp;&nbsp; $14646.9 | 3 | $813.4 |
| Louis | 8 | $1041.4 | 121 | &nbsp;&nbsp; $31822.7 | 28 | $2515.8 |
| Hanover |  |  |  |  |  |  |
| Andrew | 1 | $250.5 | 39 | &nbsp;&nbsp; $15183.5 | 3 | $813.4 |
| Andrew |  |  |  |  |  |  |

---

Springer

CONFIDENTIAL

Performance-Based Fees for Other Accounts Managed. Of the accounts listed in the table above, those for which the Marathon receives a fee based on investment performance are listed in the table below:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registered Investment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registered Investment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Pooled Investment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Pooled Investment |  |  |
|  | Companies | Companies |  | Vehicles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Accounts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Accounts |
|  | Number |  | Number |  | Number |  |
|  | of | Total Assets | of | Total Assets | of | Total Assets |
|  | Accounts | $Million | Accounts | $Million | Accounts | $Million |
| Ed Cong | 1 | $250.5 | 26 | $11177.3 | 3 | $813.4 |
| Louis | 2 | $251.0 | 87 | $24529.8 | 12 | $1131.1 |
| Hanover |  |  |  |  |  |  |
| Andrew | 1 | $250.5 | 33 | $12002.8 | 3 | $813.4 |
| Springer |  |  |  |  |  |  |

---

Conflicts of Interest. Material conflicts of interest exist whenever a portfolio manager simultaneously manages multiple accounts. A conflict of interest may arise as a result of the portfolio manager being responsible for multiple accounts, including the Fund, which may have different investment guidelines and objectives. In addition to the Fund, these accounts may include accounts of other registered investment companies for which the Subadvisor serves as sub-advisor, private pooled investment vehicles and other accounts. The Subadvisor has adopted aggregation and allocation of investments procedures designed to ensure that all of its clients are treated fairly and equitably over time and to prevent this form of conflict from influencing the allocation of investment opportunities among its clients. As a general matter, the Subadvisor will offer clients the right to participate in all investment opportunities that it determines are appropriate for the client in view of relative amounts of capital available for new investments, each client's investment program, and the then current portfolios of its clients at the time an allocation decision is made. As a result, in certain situations priority or weighted allocations can be expected to occur in respect of certain accounts, including but not limited to situations where clients have differing: (A) portfolio concentrations with respect to geography, asset class, issuer, sector or rating, (B) investment restrictions, (C) tax or regulatory limitations,

(D)leverage limitations or volatility targets, (E) ramp up or ramp down scenarios or (F) counterparty relationships. The Subadvisor maintains conflicts of interest policies and procedures containing provisions designed to prevent potential conflicts related to personal trading, allocation, and fees among other potential conflicts of interest. Such potential conflicts and others are disclosed in Subadvisor's Form ADV Part 2A filing.

Compensation of Portfolio Managers. The Subadvisor has adopted a system of compensation for portfolio managers and others involved in the investment process that is applied systematically among investment professionals. The Advisor pays the Subadvisor a fee consisting of two components – a base management fee based on the assets under management and an incentive fee based upon pre-incentive fee net investment income attributable to each Share Class, and shall be calculated and accrued on a monthly basis while being determined and payable in arrears as of the end of each

CONFIDENTIAL

fiscal quarter, and is subject to a hurdle rate, expressed as a rate of return based on a Class's average beginning monthly net assets for the applicable quarterly payment period, equal to 1.25% per quarter (or an annualized hurdle rate of 5%) subject to a "catch up" feature, as set forth in the Subadvisory Agreement between the Subadvisor and the Advisor. The Subadvisor pays its investment professionals out of its total revenues and other resources, including the sub-advisory fees earned with respect to the Fund. Such compensation consists of an annual salary and a discretionary year-end bonus for the Subadvisor's employees.

Share Ownership by Portfolio Managers. The following table indicates as of October 31, 2025, the value of shares beneficially owned by the portfolio managers in the Fund.

---

| | |
|:---|:---|
| Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Range of Beneficial Ownership in the Fund |
| Ed Cong | $100001-$500000 |
| Louis Hanover | over $1,000,000 |
| Andrew Springer | $100001-$500000 |

---

CONFIDENTIAL

ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

(a)Not applicable.

(b)Not applicable.

ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

No material changes.

ITEM 16. CONTROLS AND PROCEDURES.

(a)Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.

(b)There were no changes in the registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

Not applicable.

ITEM 19. EXHIBITS.

[(a)(1) Code of Ethics for Covered Officers is attached.](f43719d2.htm)

(a)(2) Not applicable.

[(a)(3) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are attached.](f43719d3.htm)

[(b)Separate certifications for the registrant's principal executive officer and principal financial officer, as required by 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and Rule 30a-2(b) under the Investment Company Act of 1940, are attached. The certifications furnished pursuant to this paragraph are not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section. Such certifications are not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates them by reference.](f43719d4.htm)

[(c)(1) Proxy Voting Policies and Procedures are attached.](f43719d5.htm)

SIGNATURES

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

John Hancock Marathon Asset-Based Lending Fund

---

| | |
|:---|:---|
| By: | &nbsp;&nbsp; /s/ Kristie M. Feinberg |
|  | &nbsp;&nbsp; ------------------------------ |
|  | &nbsp;&nbsp; Kristie M. Feinberg |
|  | &nbsp;&nbsp; President, |
|  | &nbsp;&nbsp; Principal Executive Officer |
| Date: | &nbsp;&nbsp; December 23, 2025 |

---

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

---

| | |
|:---|:---|
| By: | &nbsp;&nbsp; /s/ Kristie M. Feinberg |
|  | &nbsp;&nbsp; ------------------------------ |
|  | &nbsp;&nbsp; Kristie M. Feinberg |
|  | &nbsp;&nbsp; President, |
|  | &nbsp;&nbsp; Principal Executive Officer |
| Date: | &nbsp;&nbsp; December 23, 2025 |
| By: | &nbsp;&nbsp; /s/ Fernando A. Silva |
|  | &nbsp;&nbsp; --------------------------- |
|  | &nbsp;&nbsp; Fernando A. Silva |
|  | &nbsp;&nbsp; Chief Financial Officer, |
|  | &nbsp;&nbsp; Principal Financial Officer |
| Date: | &nbsp;&nbsp; December 23, 2025 |

---

------

## Ex-99

![](gzkjfhrw3asj0blbwncc1.jpg)

**JOHN HANCOCK ALTERNATIVE FUNDS**

**<u><u>S</u>ARBANES<u>-O</u>XLEY <u>C</u>ODE OF <u>E</u>THICS</u>**

**<u>FOR</u>**

**<u><u>P</u>RINCIPAL <u>E</u>XECUTIVE<u>, P</u>RINCIPAL <u>F</u>INANCIAL <u>O</u>FFICER <u>& T</u>REASURER</u>**

**I.Covered Officers/Purpose of the Code**

This code of ethics (this "Code") for the John Hancock Alternative Funds[<sup>1</sup>](#div7966bb3c-e091-49fe-b8c9-e86d7e0f5185)(each a "Fund"), a registered management investment company under the Investment Company Act of 1940, as amended ("1940 Act"), applies to each Fund's Principal Executive Officer ("President"), Principal Financial Officer ("Chief Financial Officer") and Treasurer ("Treasurer") (the "Covered Officers" as set forth in <u>Exhibit A</u>) for the purpose of promoting:

****honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

****full, fair, accurate, timely and understandable disclosure in reports and documents that the Fund files with, or submits to, the Securities and Exchange Commission ("SEC") and in other public communications made by the Fund;

****compliance with applicable laws and governmental rules and regulations;

****the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

****accountability for adherence to the Code.

1John Hancock Alternative Funds includes the following: John Hancock Asset-Based Lending Fund, Manulife Private Credit Plus Fund, John Hancock CQS Multi Asset Credit Fund and the John Hancock CQS Asset Backed Securities Fund.

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INTERNAL

Each of the Covered Officers should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

**II.Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest Overview**

A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his service to, the Fund. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of his position with the Fund. Certain conflicts of interest arise out of the relationships between the Covered Officers and the Fund and already are subject to conflict of interest provisions in the Investment Company Act of 1940, as amended (the "Investment Company Act") and the Investment Advisers Act of 1940, as amended (the "Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Fund because of their status as "affiliated persons" of the Fund. Each of the Covered Officers is an officer or employee of the investment adviser or a service provider ("Service Provider") to the Fund. The Fund's, the investment adviser's and the Service Provider's compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the Fund and the investment adviser and the Service Provider of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Fund, for the investment adviser or for the Service Provider), be involved in establishing policies and implementing decisions which will have different effects on the investment adviser, the Service Provider and the Fund. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Fund and the investment adviser and the Service Provider and is consistent with the performance by the Covered Officers of their duties as officers of the Fund. Thus, if such participation is performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, it will be deemed to have been handled ethically. In addition, it is recognized by the Fund's Board of Trustees/Directors (the "Board") that the Covered Officers may also be officers or employees of one or more other investment companies covered by other Codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but the Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Fund.

\*\*\*

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INTERNAL

Each Covered Officer must:

****not use his/her personal influence or personal relationships improperly to influence investment decisions or financial reporting by the Fund whereby the Covered Officer would benefit personally to the detriment of the Fund;

****not cause the Fund to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than for the benefit of the Fund; and

****not use material non-public knowledge of portfolio transactions made or contemplated for the Fund to trade personally or cause others to trade personally in contemplation of the market effect of such transactions.

Additionally, conflicts of interest may arise in other situations, the propriety of which may be discussed, if material, with the Fund's Chief Compliance Officer ("CCO"). Examples of these include:

****serve as a director/trustee on the board of any public or private company;

****the receipt of any non-nominal gifts;

****the receipt of any entertainment from any company with which the Fund has current or prospective business dealings unless such entertainment is business-related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of impropriety (or other formulation as the Fund already uses in another code of conduct);

****any ownership interest in, or any consulting or employment relationship with, any of the Fund's service providers, other than its investment adviser, any sub-adviser, principal underwriter, administrator or any affiliated person thereof; and

****a direct or indirect financial interest in commissions, transaction charges or spreads paid by the Fund for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment, such as compensation or equity ownership.

**III.Disclosure & Compliance**

****Each Covered Officer should familiarize himself or herself with the disclosure requirements generally applicable to the Fund;

****Each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about the Fund to others, whether within or outside the Fund, including to the Fund's directors and auditors, and to governmental regulators and self- regulatory organizations;

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INTERNAL

****Each Covered Officer should, to the extent appropriate within his/her area of responsibility, consult with other officers and employees of the Fund and the Fund's adviser or any sub-adviser with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Fund files with, or submits to, the SEC and in other public communications made by the Fund; and

****It is the responsibility of each Covered Officer to promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

IV. Reporting & Accountability

Each Covered Officer must:

****upon adoption of the Code (or thereafter as applicable, upon becoming a Covered Officer), affirm in writing to the Fund's CCO that he/she has received, read, and understands the Code;

****annually thereafter affirm to the Fund's CCO that he/she has complied with the requirements of the Code;

****not retaliate against any employee or Covered Officer or their affiliated persons for reports of potential violations that are made in good faith;

****notify the Fund's CCO promptly if he/she knows of any violation of this Code (Note: failure to do so is itself a violation of this Code); and

****report at least annually any change in his/her affiliations from the prior year.

The Fund's CCO is responsible for applying this Code to specific situations in which questions are presented under it and has the authority to interpret this Code in any particular situation. However, any approvals or waivers sought by the Principal Executive Officer will be considered by the Fund's Board or the Compliance Committee thereof (the "Committee").

The Fund will follow these procedures in investigating and enforcing this Code:

****the Fund's CCO will take all appropriate action to investigate any potential violations reported to him/her;

****if, after such investigation, the CCO believes that no violation has occurred, the CCO is not required to take any further action;

****any matter that the CCO believes is a violation will be reported to the Board or, if applicable, Compliance Committee;

****if the Board or, if applicable, Compliance Committee concurs that a violation has

occurred, the Board, either upon its determination of a violation or upon

4 of 6

INTERNAL

recommendation of the Compliance Committee, if applicable, will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the Service Provider or the investment adviser or its board; or a recommendation to dismiss the Registrant's Executive Officer;

****the Board, or if applicable the Compliance Committee, will be responsible for granting waivers, as appropriate; and

****any changes to or waivers of this Code will, to the extent required, be disclosed as provided by SEC rules.

**V.Other Policies & Procedures**

This Code shall be the sole code of ethics adopted by each Fund for purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Fund, the Fund's adviser, any sub-adviser, principal underwriter or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The Fund's and its investment adviser's codes of ethics under Rule 204A-1 under the Investment Advisers Act and Rule 17j-1 under the Investment Company Act, respectively, are separate requirements applying to the Covered Officers and others and are not part of this Code.

VI. Amendments

Any amendments to this Code, other than amendments to Exhibit A, must be approved or ratified by a majority vote of the Fund's Board, including a majority of independent directors.

VII. Confidentiality

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Fund's Board and its counsel, the investment adviser and the relevant Service Providers.

VIII. Internal Use

The Code is intended solely for the internal use by the Fund and does not constitute an admission, by or on behalf of the Fund, as to any fact, circumstance, or legal conclusion.

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INTERNAL

**<u>Exhibit A</u>**

**Persons Covered by this Code of Ethics**

**(As of September 22, 2025)**

****Principal Executive Officer – Kristie Feinberg

****Principal Financial Officer and Chief Financial Officer – Fernando Silva

****Treasurer – Salvatore Schiavone

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## Ex-99.Cert

<u>CERTIFICATION</u>

**I, Kristie M. Feinberg, certify that:**

1. I have reviewed this report on Form N-CSR of **John Hancock Marathon Asset-Based Lending Fund**;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: December 23, 2025

<u>/s/ Kristie M. Feinberg</u> Kristie M. Feinberg

President, Principal Executive Officer

<u>CERTIFICATION</u>

I, **Fernando A. Silva**, certify that:

1. I have reviewed this report on Form N-CSR of **John Hancock Marathon Asset-Based Lending Fund**;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: December 23, 2025

<u>/s/ Fernando A. Silva</u> Fernando A. Silva

Chief Financial Officer, Principal Financial Officer

## Exhibit 99.906

**Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\***

In connection with the attached Report of **John Hancock Marathon Asset-Based Lending Fund** (the "registrant") on Form N-CSR to be filed with the Securities and Exchange Commission (the "Report"), each of the undersigned officers of the registrant does hereby certify that, to the best of such officer's knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant as of, and for, the periods presented in the Report.

/s/ Kristie M. Feinberg

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

Kristie M. Feinberg

President, Principal Executive Officer

Dated: December 23, 2025

/s/ Fernando A. Silva

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

Fernando A. Silva

Chief Financial Officer, Principal Financial Officer

Dated: December 23, 2025

A signed original of this written statement, required by Section 906, has been provided to the registrant and will be retained by the registrant and furnished to the Securities and Exchange Commission or its staff upon request.

\*These certifications are being furnished solely pursuant to 18 U.S.C. Section 1350 and are not being filed as part of this Form N-CSR or as a separate disclosure document.

## Ex-99

**MARATHON ASSET MANAGEMENT LP**

**PROXY VOTING POLICIES AND PROCEDURES**

**December 2021**

<u>Policy Statement</u>

These procedures apply to all Funds and other Client accounts for which the Adviser is responsible for voting proxies, including all limited partnerships, limited liability companies, Managed Accounts and other accounts for which it acts as investment adviser. From time to time, the Adviser is asked to vote on or otherwise consent to certain actions on behalf of a Client as holder of such investments. It is the Adviser's general policy not to vote proxies for securities that are not held in a Client's account at the time such proxy is received or on the vote date of such proxy. The Adviser will determine whether a proposal is in the best interests of its Clients and may take into account the following factors, among others: (i) whether the proposal was recommended by management and the Adviser's opinion of management; (ii) whether the proposal acts to entrench existing management; and (iii) whether the proposal fairly compensates management for past and future performance.

This policy provides a framework for analysis and decision making, but does not address all potential issues. In voting proxies, the Adviser is guided by general fiduciary principles. The Adviser's goal is to act prudently, solely in the best interest of the beneficial owners of the accounts it manages. The Adviser attempts to consider all aspects of its vote that could affect the value of the investment; and where the Adviser votes proxies, it will do so in the manner that it believes will be consistent with efforts to maximize shareholder values.

<u>Voting of Proxies</u>

Proxy material is promptly reviewed to evaluate the issues presented. Regularly recurring mattersare usually voted as recommended by the issuer's board of directors or "management," but there are many circumstances that might cause the Adviser to vote against such proposals. These mightinclude, among others, excessive compensation, unusual management stock options, preferential voting or "poison pills." The Adviser will decide these issues on a case-by-case basis.

The Adviser may determine to abstain from voting a proxy or a specific proxy item when it concludes that the potential benefit of voting is outweighed by the cost, when the Adviser does notreceive a solicitation or enough information within a sufficient time prior to the proxy-voting deadline, or when it is not in the Client account's best interest to vote. The Adviser shall cast ballots in a manner it believes to be consistent with the interests of the Fund or Client account andshall not subordinate Client interests to its own. When a Client has authorized the Adviser to voteproxies on its behalf, the Adviser will generally not accept instructions from the Client regarding how to vote proxies. If the Adviser exercises voting authority with respect to Client securities, theAdviser is required to adopt and implement written policies and procedures that are reasonably designed to ensure that the Adviser votes Client securities in a manner consistent with the best interests of such Client. (Rule 206(4)-6).

In certain situations, a Client's investment strategy can impact voting determinations. For example, the Adviser may consider social issues when voting proxies for socially screened accounts and consider environmental issues when voting proxies for sustainability screened portfolios and accounts. The Adviser may also take social or environmental issues into account when voting proxies for portfolios and accounts that do not have social or sustainability screens if the Adviser believes that doing so is in the best interest of the relevant Client(s) and otherwise consistent with the Client's best interest, applicable laws, and the Advisers' duties, such as where material environmental or social risks may have economic ramifications for shareholders.

<u>Proxy Advisory Firms</u>

The Adviser does not currently rely on proxy advisory firms when voting proxies. To the extent that the Adviser engages one or more proxy advisory firms in the future, it will implement policiesregarding the engagement and review of such firms, including with respect to the identification and mitigation of conflicts.

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<u>Conflicts of Interest</u>

In furtherance of the Adviser's goal to vote proxies in the best interests of Clients, the Adviser follows procedures designed to identify and address material conflicts that may arise between theAdviser's interests and those of its Clients before voting proxies on behalf of such Clients.

Procedures for Identifying Conflicts of Interest.

The Adviser relies on the following to seek to identify conflicts of interest with respect to proxy voting:

• The Adviser shall monitor the potential for conflicts of interest on the part of the Adviser with respect to voting proxies on behalf of Client accounts as a result of personal relationships, significant Client relationships (those accounting for greaterthan 5% of annual revenues) or special circumstances that may arise during the conduct of the Adviser's business.

• If the Adviser has a conflict of interest in voting proxies on behalf of Client accounts in respect of a specific issuer, the Compliance Officer or her designee shall maintain an up to date list of such issuers. The Adviser shall not vote proxiesrelating to issuers on such list on behalf of Client accounts until it has been determined that the conflict of interest is not material or a method for resolving such conflict of interest has been agreed upon and implemented, as described below.

Procedures for Assessing Materiality of Conflicts of Interest and for Addressing Material Conflicts of Interest.

The Compliance Officer or her designee will determine whether a conflict of interest is material. A conflict of interest will be considered material to the extent that it is determined that such conflicthas the potential to influence the Adviser's decision- making in voting the proxy. A conflict of interest shall be deemed material in the event that the issuer that is the subject of the proxy or any

executive officer of that issuer has a Client relationship with the Adviser of the type described above. All other materiality determinations will be based on an assessment of the particular facts and circumstances. The Compliance Officer or her designee shall maintain a written record of all materiality determinations.

If it is determined that a conflict of interest is not material, the Adviser may vote proxies notwithstanding the existence of the conflict.

If it is determined that a conflict of interest is material, one or more methods may be used to resolvethe conflict, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•disclosing the conflict to the Client and obtaining its consent before voting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•suggesting to the Client that it engage another party to vote the proxy on its behalf;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•engaging a third party to recommend a vote with respect to the proxy based on application of the policies set forth herein; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•such other method as is deemed appropriate under the circumstances, given the nature of the conflict.

The Adviser shall maintain a written record of the method used to resolve a material conflict of interest.

<u>Recordkeeping</u>

The Adviser shall maintain the following records relating to proxy voting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a copy of these policies and procedures;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a copy of each proxy form (as voted);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a copy of each proxy solicitation (including proxy statements) and related materials with regard to each vote;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•documentation relating to the identification and resolution of conflicts of interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a copy of each written Client request for information on how the Adviser voted proxies on behalf of the Client, and a copy of any written response by the Adviser to any (written or oral) Client request for information on how the Adviser voted proxies on behalf of the requesting Client.

Such records shall be maintained and preserved in an easily accessible place for a period of not less than five years from the end of the fiscal year during which the last entry was made on such record, the first two years in the Adviser's office.

In lieu of keeping copies of proxy statements, the Adviser may rely on proxy statements filed on the EDGAR system as well as on third party records of proxy statements and votes cast if the third party provides an undertaking to provide the documents promptly upon request.

The Compliance Officer or her designee shall review this policy on an annual basis and revise it as necessary.

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