# EDGAR Filing Document

**Accession Number:** 0001215913
**File Stem:** 0001215913-26-000014
**Filing Date:** 2026-6
**Character Count:** 116356
**Document Hash:** 5e7452d8635ea6057667610a8ddbb2be
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001215913-26-000014.hdr.sgml**: 20260625

**ACCESSION NUMBER**: 0001215913-26-000014

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260625

**DATE AS OF CHANGE**: 20260625

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JOHN HANCOCK PREFERRED INCOME FUND III
- **CENTRAL INDEX KEY:** 0001215913

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21287
- **FILM NUMBER:** 261118421

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

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

## Nport-Ex

![](imgf8f3f7ce1.gif)

#### Quarterly portfolio holdings

## John Hancock

## Preferred Income Fund III

## Closed-end fixed income
April 30, 2026

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.

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Fund's investments

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#### As of 4-30-26 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Preferred securities (A) 89.1% (55.4% of Total investments)** |  | **$402631279** |
| (Cost $430,624,353) |  |  |
| **Communication services 3.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**16334319** |
| **Wireless telecommunication services 3.6%** |  |  |
| Array Digital Infrastructure, Inc., 5.500% | &nbsp;&nbsp;38150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692804 |
| Array Digital Infrastructure, Inc., 6.250% | &nbsp;&nbsp;57420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1151845 |
| Telephone & Data Systems, Inc., 6.000% | 469125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9237071 |
| T-Mobile USA, Inc., 6.250% (B)(C) | 210525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5252599 |
| **Consumer discretionary 0.4%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**1753500** |
| **Household durables 0.4%** |  |  |
| Whirlpool Corp., 8.500% | &nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1753500 |
| **Energy 0.5%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**2216208** |
| **Oil, gas and consumable fuels 0.5%** |  |  |
| NGL Energy Partners LP, 11.138% (3 month CME Term SOFR + 7.475%) (D) | &nbsp;&nbsp;87875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2216208 |
| **Financials 60.3%** |  | &nbsp;&nbsp;**272603663** |
| **Banks 26.9%** |  |  |
| Banc of California, Inc., 7.750% (7.750% to 9-1-27, then 5 Year CMT + 4.820%) | &nbsp;&nbsp;92250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2365290 |
| Bank of America Corp., 5.000% (C) | 142300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2921419 |
| Bank of America Corp., 6.450% (C) | 127225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3283677 |
| Bank of America Corp., 7.250% (C) | &nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11616307 |
| Bank of Hawaii Corp., 8.000% (C) | &nbsp;&nbsp;83000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195350 |
| Citigroup Capital XIII, 10.295% (3 month CME Term SOFR + 6.632%) (C)(D) | 194800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5725172 |
| Citizens Financial Group, Inc., 6.500% (6.500% to 10-6-30, then 5 Year CMT + 2.629%) | &nbsp;&nbsp;98750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2489488 |
| Citizens Financial Group, Inc., 7.375% | 271975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7057751 |
| Fifth Third Bancorp, 6.000% (C) | 171195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4041914 |
| Fifth Third Bancorp, 6.875% (6.875% to 10-1-30, then 5 Year CMT + 3.125%) (C) | 188925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4876154 |
| First Busey Corp., 8.250% | &nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223960 |
| First Citizens BancShares, Inc., 6.625% (6.625% to 3-15-31, then 5 Year CMT + 2.830%) | 139425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3512116 |
| First Horizon Corp., 6.750% | 188850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4730693 |
| Fulton Financial Corp., 5.125% (C) | 145725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2695913 |
| Huntington Bancshares, Inc., 6.875% (6.875% to 4-15-28, then 5 Year CMT + 2.704%) | 165150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4227840 |
| KeyCorp, 5.650% | 208259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4475486 |
| KeyCorp, 6.125% (6.125% to 12-15-26, then 3 month CME Term SOFR + 4.154%) (C) | &nbsp;&nbsp;43900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098378 |
| KeyCorp, 6.200% (6.200% to 12-15-27, then 5 Year CMT + 3.132%) | 101375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2553636 |
| M&T Bank Corp., 6.350% | 163475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4098318 |
| M&T Bank Corp., 7.500% | 214100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5692919 |
| Pinnacle Financial Partners, Inc., 7.277% (3 month CME Term SOFR + 3.614%) (D) | &nbsp;&nbsp;41375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062510 |
| Pinnacle Financial Partners, Inc., 8.397% (8.397% to 7-1-29, then 5 Year CMT + 4.127%) | 192300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5038260 |
| Regions Financial Corp., 4.450% (C) | &nbsp;&nbsp;33534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560688 |
| Regions Financial Corp., 6.950% (6.950% to 9-15-29, then 5 Year CMT + 2.771%) | 181025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4659584 |
| Truist Financial Corp., 4.750% (C) | 191300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3592614 |
| U.S. Bancorp, 5.500% (C) | &nbsp;&nbsp;44250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977925 |
| UMB Financial Corp., 7.750% (7.750% to 7-15-30, then 5 Year CMT + 3.743%) (C) | &nbsp;&nbsp;79725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2109524 |
| Wells Fargo & Company, 7.500% (B)(C) | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13098910 |
| WesBanco, Inc., 7.375% (7.375% to 10-1-30, then 5 Year CMT + 3.795%) | 172650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4440558 |
| Wintrust Financial Corp., 7.875% (7.875% to 7-15-30, then 5 Year CMT + 3.878%) | 154550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4094030 |
| **Capital markets 10.1%** |  |  |
| Affiliated Managers Group, Inc., 6.750% (C) | 282125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6759715 |
| Brookfield Finance, Inc., 4.625% (C) | 211375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3269971 |
| Carlyle Finance LLC, 4.625% (C) | &nbsp;&nbsp;84929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486258 |
| KKR & Company, Inc., 6.250% (C) | &nbsp;&nbsp;83000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3683540 |
| Morgan Stanley, 6.375% (C) | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4268700 |
| Morgan Stanley, 6.500% (C) | 169075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4272525 |
| Morgan Stanley, 6.625% (C) | 107475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2747061 |

---

2 JOHN HANCOCK PREFERRED INCOME FUND III \| QUARTERLY REPORT SEE NOTES TO FUND'S INVESTMENTS

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---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials (continued)** |  |  |
| **Capital markets (continued)** |  |  |
| Morgan Stanley, 6.875% (C) | 148425 | &nbsp;&nbsp;&nbsp;$3747731 |
| Morgan Stanley, 7.125% (C) | 264203 | &nbsp;&nbsp;&nbsp;&nbsp;6705472 |
| The Bank of New York Mellon Corp., 6.150% (6.150% to 3-20-30, then 5 Year CMT + 2.161%) (C) | &nbsp;&nbsp;91801 | &nbsp;&nbsp;&nbsp;&nbsp;2343680 |
| TPG Operating Group II LP, 6.950% (C) | 261675 | &nbsp;&nbsp;&nbsp;&nbsp;6528791 |
| **Consumer finance 1.9%** |  |  |
| Navient Corp., 6.000% | 234238 | &nbsp;&nbsp;&nbsp;&nbsp;4321691 |
| Synchrony Financial, 8.250% (8.250% to 5-15-29, then 5 Year CMT + 4.044%) (C) | 168350 | &nbsp;&nbsp;&nbsp;&nbsp;4427605 |
| **Financial services 3.4%** |  |  |
| Apollo Global Management, Inc., 7.625% (7.625% to 12-15-28, then 5 Year CMT + 3.226%) (C) | 106959 | &nbsp;&nbsp;&nbsp;&nbsp;2748846 |
| Corebridge Financial, Inc., 6.375% (C) | 134901 | &nbsp;&nbsp;&nbsp;&nbsp;3230879 |
| Federal National Mortgage Association, Series S, 8.250% (E) | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936000 |
| Jackson Financial, Inc., 8.000% (8.000% to 3-30-28, then 5 Year CMT + 3.728%) (C) | &nbsp;&nbsp;79853 | &nbsp;&nbsp;&nbsp;&nbsp;2081768 |
| KKR Group Finance Company IX LLC, 4.625% (B)(C) | 334149 | &nbsp;&nbsp;&nbsp;&nbsp;5673850 |
| National Rural Utilities Cooperative Finance Corp., 5.500% (C) | &nbsp;&nbsp;29708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715072 |
| **Insurance 18.0%** |  |  |
| AEGON Funding Company LLC, 5.100% (C) | 347450 | &nbsp;&nbsp;&nbsp;&nbsp;6761377 |
| American Financial Group, Inc., 5.125% (C) | 162725 | &nbsp;&nbsp;&nbsp;&nbsp;3062485 |
| American National Group, Inc., 7.375% (C) | 240700 | &nbsp;&nbsp;&nbsp;&nbsp;5966953 |
| Aspen Insurance Holdings, Ltd., 7.000% (C) | 114425 | &nbsp;&nbsp;&nbsp;&nbsp;2827442 |
| Athene Holding, Ltd., 6.350% (6.350% to 6-30-29, then 3 month CME Term SOFR + 4.515%) (B)(C) | 350000 | &nbsp;&nbsp;&nbsp;&nbsp;8522500 |
| Athene Holding, Ltd., 7.750% (7.750% to 12-30-27, then 5 Year CMT + 3.962%) (B)(C) | 393900 | &nbsp;&nbsp;&nbsp;10064145 |
| Brighthouse Financial, Inc., 6.600% (C) | 345263 | &nbsp;&nbsp;&nbsp;&nbsp;5593261 |
| Enstar Group, Ltd., 7.000% (7.000% to 9-1-28, then 3 month LIBOR + 4.015%) (C) | &nbsp;&nbsp;39475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907925 |
| F&G Annuities & Life, Inc., 7.300% | 179775 | &nbsp;&nbsp;&nbsp;&nbsp;3863365 |
| F&G Annuities & Life, Inc., 7.950% (C) | 167150 | &nbsp;&nbsp;&nbsp;&nbsp;4170393 |
| Lincoln National Corp., 9.000% (B)(C) | 183500 | &nbsp;&nbsp;&nbsp;&nbsp;4857245 |
| Reinsurance Group of America, Inc., 7.125% (7.125% to 10-15-27, then 5 Year CMT + 3.456%) (C) | 167725 | &nbsp;&nbsp;&nbsp;&nbsp;4261892 |
| RenaissanceRe Holdings, Ltd., 4.200% (C) | 244375 | &nbsp;&nbsp;&nbsp;&nbsp;3804919 |
| The Allstate Corp., 7.375% (C) | &nbsp;&nbsp;82350 | &nbsp;&nbsp;&nbsp;&nbsp;2156747 |
| The Phoenix Companies, Inc., 7.450% (C) | 574500 | &nbsp;&nbsp;&nbsp;10312275 |
| Unum Group, 6.250% (C) | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;4005200 |
| **Information technology 2.1%** |  | &nbsp;&nbsp;**9447938** |
| **Software 2.1%** |  |  |
| Oracle Corp., 6.500% | &nbsp;&nbsp;77750 | &nbsp;&nbsp;&nbsp;&nbsp;3784093 |
| Strategy, Inc., 10.000% | &nbsp;&nbsp;73700 | &nbsp;&nbsp;&nbsp;&nbsp;5663845 |
| **Real estate 2.2%** |  | &nbsp;&nbsp;**9948787** |
| **Hotel and resort REITs 0.9%** |  |  |
| Pebblebrook Hotel Trust, 6.375% (C) | 214400 | &nbsp;&nbsp;&nbsp;&nbsp;4285856 |
| **Office REITs 0.5%** |  |  |
| Vornado Realty Trust, 5.400% | 126931 | &nbsp;&nbsp;&nbsp;&nbsp;2233986 |
| **Specialized REITs 0.8%** |  |  |
| Public Storage, 4.625% (C) | 185750 | &nbsp;&nbsp;&nbsp;&nbsp;3428945 |
| **Utilities 20.0%** |  | **90326864** |
| **Electric utilities 11.4%** |  |  |
| Duke Energy Corp., 5.750% (B)(C) | 294775 | &nbsp;&nbsp;&nbsp;&nbsp;7369375 |
| NextEra Energy Capital Holdings, Inc., 6.500% (C) | 199450 | &nbsp;&nbsp;&nbsp;&nbsp;5105920 |
| NextEra Energy, Inc., 7.234% (C) | &nbsp;&nbsp;42800 | &nbsp;&nbsp;&nbsp;&nbsp;2305636 |
| NextEra Energy, Inc., 7.375% (C) | &nbsp;&nbsp;68711 | &nbsp;&nbsp;&nbsp;&nbsp;3608702 |
| PG&E Corp., 6.000% (C) | &nbsp;&nbsp;38750 | &nbsp;&nbsp;&nbsp;&nbsp;1629825 |
| PPL Corp., 7.000% (C) | &nbsp;&nbsp;94000 | &nbsp;&nbsp;&nbsp;&nbsp;4741360 |
| SCE Trust VI, 5.000% | 155550 | &nbsp;&nbsp;&nbsp;&nbsp;2793678 |
| SCE Trust VII, 7.500% | 280775 | &nbsp;&nbsp;&nbsp;&nbsp;7083953 |

---

SEE NOTES TO FUND'S INVESTMENTS JOHN HANCOCK PREFERRED INCOME FUND III \| QUARTERLY REPORT 3

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| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Utilities (continued)** |  |  |
| **Electric utilities (continued)** |  |  |
| SCE Trust VIII, 6.950% | 161850 | $3873071 |
| The Southern Company, 4.950% (C) | 120400 | &nbsp;&nbsp;&nbsp;2404388 |
| The Southern Company, 6.500% (C) | &nbsp;&nbsp;73400 | &nbsp;&nbsp;&nbsp;1871700 |
| The Southern Company, 7.125% (C) | &nbsp;&nbsp;91800 | &nbsp;&nbsp;&nbsp;4776354 |
| Xcel Energy, Inc., 6.250% (C) | 159000 | &nbsp;&nbsp;&nbsp;3882780 |
| **Multi-utilities 8.6%** |  |  |
| Algonquin Power & Utilities Corp., 7.936% (3 month CME Term SOFR + 4.272% to 7-1-29, then 3 month CME Term SOFR + 4.522% to 7-1-49, then 3 month CME Term SOFR + 5.272%) (C)(D) | 112375 | &nbsp;&nbsp;&nbsp;2936359 |
| CMS Energy Corp., 5.625% (B)(C) | 235000 | &nbsp;&nbsp;&nbsp;5170000 |
| CMS Energy Corp., 5.875% (C) | 139475 | &nbsp;&nbsp;&nbsp;3182820 |
| CMS Energy Corp., 5.875% (B)(C) | 372250 | &nbsp;&nbsp;&nbsp;8610143 |
| DTE Energy Company, 6.250% (C) | 242500 | &nbsp;&nbsp;&nbsp;6004300 |
| DTE Energy Company, Series E, 5.250% (B)(C) | 230000 | &nbsp;&nbsp;&nbsp;4995600 |
| Sempra, 5.750% (C) | 370000 | &nbsp;&nbsp;&nbsp;7980900 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | **Value** |
| **Corporate bonds 68.9% (42.8% of Total investments)** | **Corporate bonds 68.9% (42.8% of Total investments)** | **Corporate bonds 68.9% (42.8% of Total investments)** |  | **$311402448** |
| (Cost $303,778,833) |  |  |  |  |
| **Communication services 3.7%** | **Communication services 3.7%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**16671331** |
| **Diversified telecommunication services 1.7%** | **Diversified telecommunication services 1.7%** |  |  |  |
| TELUS Corp. (6.625% to 6-9-36, then 5 Year CMT + 2.515%) | &nbsp;&nbsp;6.625 | &nbsp;&nbsp;06-09-56 | 3690000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3669690 |
| TELUS Corp. (7.000% to 10-15-35, then 5 Year CMT + 2.709%) | &nbsp;&nbsp;7.000 | &nbsp;&nbsp;10-15-55 | 3825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3956305 |
| **Wireless telecommunication services 2.0%** | **Wireless telecommunication services 2.0%** |  |  |  |
| Rogers Communications, Inc. (7.125% to 4-15-35, then 5 Year CMT + 2.620%) (B)(C) | &nbsp;&nbsp;7.125 | &nbsp;&nbsp;04-15-55 | 6050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6241244 |
| SoftBank Group Corp. (7.625% to 4-29-31, then 5 Year CMT + 4.320% to 4-29-46, then 5 Year CMT + 4.370% to 4-29-51, then 5 Year CMT + 5.070%) | &nbsp;&nbsp;7.625 | &nbsp;&nbsp;04-29-61 | &nbsp;&nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714920 |
| SoftBank Group Corp. (8.250% to 10-29-35, then 5 Year CMT + 4.545% to 10-29-50, then 5 Year CMT + 4.595% to 10-29-55, then 5 Year CMT + 5.295%) | &nbsp;&nbsp;8.250 | &nbsp;&nbsp;10-29-65 | 2265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2089172 |
| **Consumer discretionary 0.4%** | **Consumer discretionary 0.4%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**1548627** |
| **Broadline retail 0.4%** | **Broadline retail 0.4%** |  |  |  |
| Rakuten Group, Inc. (8.125% to 12-15-29, then 5 Year CMT + 4.250%) (F)(G) | &nbsp;&nbsp;8.125 | &nbsp;&nbsp;12-15-29 | 1516000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1548627 |
| **Consumer staples 0.2%** | **Consumer staples 0.2%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**872951** |
| **Food products 0.2%** | **Food products 0.2%** |  |  |  |
| Land O' Lakes, Inc. (C)(F)(G) | &nbsp;&nbsp;8.000 | &nbsp;&nbsp;05-30-26 | &nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872951 |
| **Energy 9.3%** | **Energy 9.3%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**42215354** |
| **Oil, gas and consumable fuels 9.3%** | **Oil, gas and consumable fuels 9.3%** |  |  |  |
| Enbridge, Inc. (8.500% to 1-15-34, then 5 Year CMT + 4.431% to 1-15-54, then 5 Year CMT + 5.181%) (B)(C) | &nbsp;&nbsp;8.500 | &nbsp;&nbsp;01-15-84 | 6325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7204875 |
| Energy Transfer LP (6.625% to 2-15-28, then 3 month CME Term SOFR + 4.417%) (G) | &nbsp;&nbsp;6.625 | &nbsp;&nbsp;02-15-28 | 1805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1820902 |
| Energy Transfer LP (6.750% to 2-15-36, then 5 Year CMT + 2.475%) | &nbsp;&nbsp;6.750 | &nbsp;&nbsp;02-15-56 | 3910000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3938097 |
| Energy Transfer LP (7.125% to 5-15-30, then 5 Year CMT + 5.306%) (B)(C)(G) | &nbsp;&nbsp;7.125 | &nbsp;&nbsp;05-15-30 | 8245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8467904 |
| Phillips 66 Company (6.200% to 3-15-36, then 5 Year CMT + 2.166%) (B)(C) | &nbsp;&nbsp;6.200 | &nbsp;&nbsp;03-15-56 | 3105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3115206 |
| South Bow Canadian Infrastructure Holdings, Ltd. (7.500% to 3-1-35, then 5 Year CMT + 3.667%) | &nbsp;&nbsp;7.500 | &nbsp;&nbsp;03-01-55 | 4700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4969002 |
| Sunoco LP (7.875% to 9-18-30, then 5 Year CMT + 4.230%) (F)(G) | &nbsp;&nbsp;7.875 | &nbsp;&nbsp;09-18-30 | 3850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3986891 |
| Venture Global LNG, Inc. (9.000% to 9-30-29, then 5 Year CMT + 5.440%) (F)(G) | &nbsp;&nbsp;9.000 | &nbsp;&nbsp;09-30-29 | 8809000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8712477 |
| **Financials 33.8%** | **Financials 33.8%** |  |  | &nbsp;&nbsp;**152819029** |
| **Banks 20.0%** | **Banks 20.0%** |  |  |  |
| Banco Santander SA (9.625% to 11-21-33, then 5 Year CMT + 5.298%) (G) | &nbsp;&nbsp;9.625 | &nbsp;&nbsp;05-21-33 | 3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3918407 |
| Bank of America Corp. (6.125% to 4-27-27, then 5 Year CMT + 3.231%) (B)(C)(G) | &nbsp;&nbsp;6.125 | &nbsp;&nbsp;04-27-27 | 3950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3976856 |
| Bank of America Corp. (6.250% to 7-26-30, then 5 Year CMT + 2.351%) (B)(C)(G) | &nbsp;&nbsp;6.250 | &nbsp;&nbsp;07-26-30 | 1775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1793941 |
| Bank of America Corp. (6.625% to 5-1-30, then 5 Year CMT + 2.684%) (B)(C)(G) | &nbsp;&nbsp;6.625 | &nbsp;&nbsp;05-01-30 | 5250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5414661 |
| Barclays PLC (9.625% to 6-15-30, then 5 Year SOFR ICE Swap Rate + 5.775%) (G) | &nbsp;&nbsp;9.625 | &nbsp;&nbsp;12-15-29 | 1775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1980829 |
| BNP Paribas SA (6.875% to 12-15-33, then 5 Year CMT + 2.853%) (F)(G) | &nbsp;&nbsp;6.875 | &nbsp;&nbsp;12-15-33 | 2333000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2317193 |

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4 JOHN HANCOCK PREFERRED INCOME FUND III \| QUARTERLY REPORT SEE NOTES TO FUND'S INVESTMENTS

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | **Value** |
| **Financials (continued)** | **Financials (continued)** |  |  |  |
| **Banks (continued)** | **Banks (continued)** |  |  |  |
| BNP Paribas SA (7.200% to 4-17-36, then 5 Year CMT + 2.942%) (F)(G) | &nbsp;&nbsp;7.200 | &nbsp;&nbsp;04-17-36 | 2350000 | &nbsp;&nbsp;&nbsp;$2363785 |
| Canadian Imperial Bank of Commerce (6.500% to 7-28-31, then 5 Year CMT + 2.727%) (C) | &nbsp;&nbsp;6.500 | &nbsp;&nbsp;07-28-86 | 3090000 | &nbsp;&nbsp;&nbsp;&nbsp;3080451 |
| Citigroup, Inc. (6.625% to 2-15-31, then 5 Year CMT + 3.001%) (G) | &nbsp;&nbsp;6.625 | &nbsp;&nbsp;02-15-31 | 2700000 | &nbsp;&nbsp;&nbsp;&nbsp;2733094 |
| Citigroup, Inc. (6.875% to 8-15-30, then 5 Year CMT + 2.890%) (G) | &nbsp;&nbsp;6.875 | &nbsp;&nbsp;08-15-30 | 3725000 | &nbsp;&nbsp;&nbsp;&nbsp;3782000 |
| Citigroup, Inc. (6.950% to 2-15-30, then 5 Year CMT + 2.726%) (G) | &nbsp;&nbsp;6.950 | &nbsp;&nbsp;02-15-30 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;3053094 |
| Citigroup, Inc. (7.375% to 5-15-28, then 5 Year CMT + 3.209%) (B)(C)(G) | &nbsp;&nbsp;7.375 | &nbsp;&nbsp;05-15-28 | 6000000 | &nbsp;&nbsp;&nbsp;&nbsp;6164520 |
| Citigroup, Inc. (7.625% to 11-15-28, then 5 Year CMT + 3.211%) (G) | &nbsp;&nbsp;7.625 | &nbsp;&nbsp;11-15-28 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;5199590 |
| Citizens Financial Group, Inc. (3 month CME Term SOFR + 3.419%) (C)(D)(G) | &nbsp;&nbsp;7.097 | &nbsp;&nbsp;07-06-26 | 7500000 | &nbsp;&nbsp;&nbsp;&nbsp;7495796 |
| CoBank ACB (6.450% to 10-1-27, then 5 Year CMT + 3.487%) (B)(C)(G) | &nbsp;&nbsp;6.450 | &nbsp;&nbsp;10-01-27 | 3950000 | &nbsp;&nbsp;&nbsp;&nbsp;3942705 |
| CoBank ACB (7.250% to 7-1-29, then 5 Year CMT + 2.880%) (B)(C)(G) | &nbsp;&nbsp;7.250 | &nbsp;&nbsp;07-01-29 | 5190000 | &nbsp;&nbsp;&nbsp;&nbsp;5236203 |
| First Citizens BancShares, Inc. (7.000% to 12-15-30, then 5 Year CMT + 3.301%) (G) | &nbsp;&nbsp;7.000 | &nbsp;&nbsp;12-15-30 | 3400000 | &nbsp;&nbsp;&nbsp;&nbsp;3417017 |
| Huntington Bancshares, Inc. (6.250% to 10-15-30, then 5 Year CMT + 2.653%) (G) | &nbsp;&nbsp;6.250 | &nbsp;&nbsp;10-15-30 | 2750000 | &nbsp;&nbsp;&nbsp;&nbsp;2753946 |
| JPMorgan Chase & Co. (6.100% to 7-1-31, then 5 Year CMT + 2.080%) (G) | &nbsp;&nbsp;6.100 | &nbsp;&nbsp;07-01-31 | 3600000 | &nbsp;&nbsp;&nbsp;&nbsp;3600000 |
| JPMorgan Chase & Co. (6.875% to 6-1-29, then 5 Year CMT + 2.737%) (B)(C)(G) | &nbsp;&nbsp;6.875 | &nbsp;&nbsp;06-01-29 | 4895000 | &nbsp;&nbsp;&nbsp;&nbsp;5099293 |
| Societe Generale SA (7.125% to 1-15-36, then 5 Year CMT + 2.946%) (F)(G) | &nbsp;&nbsp;7.125 | &nbsp;&nbsp;07-15-35 | 3150000 | &nbsp;&nbsp;&nbsp;&nbsp;3117575 |
| The PNC Financial Services Group, Inc. (6.200% to 9-15-27, then 5 Year CMT + 3.238%) (B)(C)(G) | &nbsp;&nbsp;6.200 | &nbsp;&nbsp;09-15-27 | 4794000 | &nbsp;&nbsp;&nbsp;&nbsp;4825885 |
| Wells Fargo & Company (7.625% to 9-15-28, then 5 Year CMT + 3.606%) (B)(C)(G) | &nbsp;&nbsp;7.625 | &nbsp;&nbsp;09-15-28 | 4762000 | &nbsp;&nbsp;&nbsp;&nbsp;5000190 |
| **Capital markets 5.9%** | **Capital markets 5.9%** |  |  |  |
| State Street Corp. (6.700% to 3-15-29, then 5 Year CMT + 2.613%) (B)(C)(G) | &nbsp;&nbsp;6.700 | &nbsp;&nbsp;03-15-29 | 4816000 | &nbsp;&nbsp;&nbsp;&nbsp;4962719 |
| The Bank of New York Mellon Corp. (6.300% to 3-20-30, then 5 Year CMT + 2.297%) (B)(C)(G) | &nbsp;&nbsp;6.300 | &nbsp;&nbsp;03-20-30 | 3630000 | &nbsp;&nbsp;&nbsp;&nbsp;3749492 |
| The Charles Schwab Corp. (6.100% to 6-1-31, then 5 Year CMT + 2.250%) (G) | &nbsp;&nbsp;6.100 | &nbsp;&nbsp;06-01-31 | 2905000 | &nbsp;&nbsp;&nbsp;&nbsp;2906288 |
| The Goldman Sachs Group, Inc. (7.500% to 2-10-29, then 5 Year CMT + 3.156%) (G) | &nbsp;&nbsp;7.500 | &nbsp;&nbsp;02-10-29 | 5675000 | &nbsp;&nbsp;&nbsp;&nbsp;5965742 |
| The Goldman Sachs Group, Inc. (7.500% to 5-10-29, then 5 Year CMT + 2.809%) (G) | &nbsp;&nbsp;7.500 | &nbsp;&nbsp;05-10-29 | 3831000 | &nbsp;&nbsp;&nbsp;&nbsp;4003713 |
| UBS Group AG (7.000% to 7-8-36, then 5 Year SOFR ICE Swap Rate + 3.321%) (C)(F)(G) | &nbsp;&nbsp;7.000 | &nbsp;&nbsp;01-08-36 | 4925000 | &nbsp;&nbsp;&nbsp;&nbsp;4998466 |
| **Consumer finance 0.5%** | **Consumer finance 0.5%** |  |  |  |
| Ally Financial, Inc. (7.100% to 8-15-31, then 5 Year CMT + 3.148%) (G) | &nbsp;&nbsp;7.100 | &nbsp;&nbsp;08-15-31 | 2400000 | &nbsp;&nbsp;&nbsp;&nbsp;2398111 |
| **Financial services 1.9%** | **Financial services 1.9%** |  |  |  |
| Corebridge Financial, Inc. (6.875% to 12-1-30, then 5 Year CMT + 3.181%) (G) | &nbsp;&nbsp;6.875 | &nbsp;&nbsp;12-01-30 | 2880000 | &nbsp;&nbsp;&nbsp;&nbsp;2962267 |
| HA Sustainable Infrastructure Capital, Inc. (7.125% to 11-15-31, then 5 Year CMT + 3.478%) | &nbsp;&nbsp;7.125 | &nbsp;&nbsp;11-15-56 | 2430000 | &nbsp;&nbsp;&nbsp;&nbsp;2453036 |
| Voya Financial, Inc. (G) | &nbsp;&nbsp;7.758 | &nbsp;&nbsp;09-15-28 | 3250000 | &nbsp;&nbsp;&nbsp;&nbsp;3389750 |
| **Insurance 5.5%** | **Insurance 5.5%** |  |  |  |
| Allianz SE (6.500% to 4-30-35, then 5 Year CMT + 2.233%) (F)(G) | &nbsp;&nbsp;6.500 | &nbsp;&nbsp;10-30-34 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;2001356 |
| American National Group, Inc. (7.000% to 12-1-30, then 5 Year CMT + 3.183%) (C) | &nbsp;&nbsp;7.000 | &nbsp;&nbsp;12-01-55 | 4050000 | &nbsp;&nbsp;&nbsp;&nbsp;3957777 |
| Global Atlantic Financial Company (7.950% to 10-15-29, then 5 Year CMT + 3.608%) (F) | &nbsp;&nbsp;7.950 | &nbsp;&nbsp;10-15-54 | 4750000 | &nbsp;&nbsp;&nbsp;&nbsp;4763443 |
| SBL Holdings, Inc. (6.500% to 11-13-26, then 5 Year CMT + 5.620%) (F)(G) | &nbsp;&nbsp;6.500 | &nbsp;&nbsp;11-13-26 | 8000000 | &nbsp;&nbsp;&nbsp;&nbsp;7231549 |
| SBL Holdings, Inc. (9.508% to 5-13-30, then 5 Year CMT + 5.580%) (B)(C)(F)(G) | &nbsp;&nbsp;9.508 | &nbsp;&nbsp;05-13-30 | 7200000 | &nbsp;&nbsp;&nbsp;&nbsp;6808289 |
| **Real estate 0.6%** | **Real estate 0.6%** |  |  | &nbsp;&nbsp;**2819716** |
| **Residential REITs 0.6%** | **Residential REITs 0.6%** |  |  |  |
| BW Real Estate, Inc. (9.500% to 3-30-30, then 5 Year CMT + 5.402%) (F)(G) | &nbsp;&nbsp;9.500 | &nbsp;&nbsp;03-30-30 | 2770000 | &nbsp;&nbsp;&nbsp;&nbsp;2819716 |
| **Utilities 20.9%** | **Utilities 20.9%** |  |  | **94455440** |
| **Electric utilities 10.5%** | **Electric utilities 10.5%** |  |  |  |
| American Electric Power Company, Inc. (6.050% to 3-15-36, then 5 Year CMT + 1.940%) (C) | &nbsp;&nbsp;6.050 | &nbsp;&nbsp;03-15-56 | 2525000 | &nbsp;&nbsp;&nbsp;&nbsp;2516966 |
| Brookfield Infrastructure Finance ULC (6.750% to 3-15-30, then 5 Year CMT + 2.453%) (B)(C) | &nbsp;&nbsp;6.750 | &nbsp;&nbsp;03-15-55 | 3592000 | &nbsp;&nbsp;&nbsp;&nbsp;3627931 |
| Emera US Finance LLC (6.850% to 10-1-36, then 5 Year CMT + 2.648%) (C) | &nbsp;&nbsp;6.850 | &nbsp;&nbsp;10-01-56 | 3160000 | &nbsp;&nbsp;&nbsp;&nbsp;3169452 |
| Entergy Corp. (7.125% to 12-1-29, then 5 Year CMT + 2.670%) (B)(C) | &nbsp;&nbsp;7.125 | &nbsp;&nbsp;12-01-54 | 4250000 | &nbsp;&nbsp;&nbsp;&nbsp;4375282 |
| EUSHI Finance, Inc. (7.625% to 12-15-29, then 5 Year CMT + 3.136%) (C) | &nbsp;&nbsp;7.625 | &nbsp;&nbsp;12-15-54 | 3280000 | &nbsp;&nbsp;&nbsp;&nbsp;3395789 |
| Eversource Energy (6.350% to 8-15-36, then 5 Year CMT + 2.325%) (B)(C) | &nbsp;&nbsp;6.350 | &nbsp;&nbsp;08-15-56 | 2275000 | &nbsp;&nbsp;&nbsp;&nbsp;2273981 |
| NRG Energy, Inc. (10.250% to 3-15-28, then 5 Year CMT + 5.920%) (B)(C)(F)(G) | &nbsp;&nbsp;10.250 | &nbsp;&nbsp;03-15-28 | 7240000 | &nbsp;&nbsp;&nbsp;&nbsp;7864823 |
| PG&E Corp. (6.850% to 9-15-31, then 5 Year CMT + 3.225%) | &nbsp;&nbsp;6.850 | &nbsp;&nbsp;09-15-56 | 2650000 | &nbsp;&nbsp;&nbsp;&nbsp;2649469 |
| PG&E Corp. (7.375% to 3-15-30, then 5 Year CMT + 3.883%) (B)(C) | &nbsp;&nbsp;7.375 | &nbsp;&nbsp;03-15-55 | 2400000 | &nbsp;&nbsp;&nbsp;&nbsp;2468537 |
| Puget Energy, Inc. (7.000% to 9-15-31, then 5 Year CMT + 2.961%) (F) | &nbsp;&nbsp;7.000 | &nbsp;&nbsp;09-15-56 | 4150000 | &nbsp;&nbsp;&nbsp;&nbsp;4155196 |
| Sierra Pacific Power Company (6.200% to 12-15-30, then 5 Year CMT + 2.549%) (B)(C) | &nbsp;&nbsp;6.200 | &nbsp;&nbsp;12-15-55 | 1600000 | &nbsp;&nbsp;&nbsp;&nbsp;1573519 |
| The Southern Company (6.000% to 4-1-33, then 5 Year CMT + 1.993%) (C) | &nbsp;&nbsp;6.000 | &nbsp;&nbsp;04-01-58 | 4135000 | &nbsp;&nbsp;&nbsp;&nbsp;4180320 |

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SEE NOTES TO FUND'S INVESTMENTS JOHN HANCOCK PREFERRED INCOME FUND III \| QUARTERLY REPORT 5

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---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Rate (%)** | &nbsp;&nbsp;**Maturity date** | **Par value^** | **Value** |
| **Utilities (continued)** | **Utilities (continued)** |  |  |  |
| **Electric utilities (continued)** | **Electric utilities (continued)** |  |  |  |
| TXNM Energy, Inc. (7.000% to 7-31-31, then 5 Year CMT + 3.254%) (F) | &nbsp;&nbsp;7.000 | &nbsp;&nbsp;07-31-56 | 5000000 | &nbsp;&nbsp;&nbsp;$4984039 |
| **Gas utilities 3.3%** | **Gas utilities 3.3%** |  |  |  |
| AltaGas, Ltd. (7.200% to 10-15-34, then 5 Year CMT + 3.573%) (F) | &nbsp;&nbsp;7.200 | &nbsp;&nbsp;10-15-54 | 4900000 | &nbsp;&nbsp;&nbsp;&nbsp;5090791 |
| Northwest Natural Holding Company (7.000% to 9-15-35, then 5 Year CMT + 2.701%) (B)(C) | &nbsp;&nbsp;7.000 | &nbsp;&nbsp;09-15-55 | 5700000 | &nbsp;&nbsp;&nbsp;&nbsp;5907577 |
| Spire, Inc. (6.450% to 6-1-36, then 5 Year CMT + 2.327%) (B)(C) | &nbsp;&nbsp;6.450 | &nbsp;&nbsp;06-01-56 | 4050000 | &nbsp;&nbsp;&nbsp;&nbsp;4060048 |
| **Independent power and renewable electricity producers 3.3%** | **Independent power and renewable electricity producers 3.3%** |  |  |  |
| The AES Corp. (7.600% to 1-15-30, then 5 Year CMT + 3.201%) | &nbsp;&nbsp;7.600 | &nbsp;&nbsp;01-15-55 | 5056000 | &nbsp;&nbsp;&nbsp;&nbsp;5150704 |
| Vistra Corp. (8.875% to 1-15-29, then 5 Year CMT + 5.045%) (B)(C)(F)(G) | &nbsp;&nbsp;8.875 | &nbsp;&nbsp;01-15-29 | 8982000 | &nbsp;&nbsp;&nbsp;&nbsp;9655614 |
| **Multi-utilities 3.8%** | **Multi-utilities 3.8%** |  |  |  |
| CenterPoint Energy, Inc. (6.850% to 2-15-35, then 5 Year CMT + 2.946%) (B)(C) | &nbsp;&nbsp;6.850 | &nbsp;&nbsp;02-15-55 | 4615000 | &nbsp;&nbsp;&nbsp;&nbsp;4873708 |
| CMS Energy Corp. (6.500% to 6-1-35, then 5 Year CMT + 1.961%) (B)(C) | &nbsp;&nbsp;6.500 | &nbsp;&nbsp;06-01-55 | 3596000 | &nbsp;&nbsp;&nbsp;&nbsp;3684375 |
| Dominion Energy, Inc. (6.200% to 2-15-36, then 5 Year CMT + 2.006%) (B)(C) | &nbsp;&nbsp;6.200 | &nbsp;&nbsp;02-15-56 | 3145000 | &nbsp;&nbsp;&nbsp;&nbsp;3150809 |
| Sempra (6.400% to 10-1-34, then 5 Year CMT + 2.632%) (B)(C) | &nbsp;&nbsp;6.400 | &nbsp;&nbsp;10-01-54 | 2725000 | &nbsp;&nbsp;&nbsp;&nbsp;2746048 |
| Sempra (6.875% to 10-1-29, then 5 Year CMT + 2.789%) (B)(C) | &nbsp;&nbsp;6.875 | &nbsp;&nbsp;10-01-54 | 2850000 | &nbsp;&nbsp;&nbsp;&nbsp;2900462 |
| **Capital preferred securities (H) 1.2% (0.7% of Total investments)** | **Capital preferred securities (H) 1.2% (0.7% of Total investments)** | **Capital preferred securities (H) 1.2% (0.7% of Total investments)** |  | **$5304578** |
| (Cost $6,310,250) |  |  |  |  |
| **Financials 1.2%** | **Financials 1.2%** |  |  | &nbsp;&nbsp;**5304578** |
| **Insurance 1.2%** | **Insurance 1.2%** |  |  |  |
| MetLife Capital Trust IV (7.875% to 12-15-37, then 3 month CME Term SOFR + 4.222%) (B)(C)(F) | &nbsp;&nbsp;7.875 | &nbsp;&nbsp;12-15-37 | 4860000 | &nbsp;&nbsp;&nbsp;&nbsp;5304578 |
| **U.S. Government and Agency obligations 0.5% (0.4% of Total investments)** | **U.S. Government and Agency obligations 0.5% (0.4% of Total investments)** | **U.S. Government and Agency obligations 0.5% (0.4% of Total investments)** |  | **$2520329** |
| (Cost $2,468,000) |  |  |  |  |
| **U.S. Government Agency 0.5%** |  |  |  | &nbsp;&nbsp;&nbsp;**2520329** |
| Farm Credit Bank of Texas<br> Bond (7.000% to 9-15-30, then 5 Year CMT + 3.010%) (C)(G) | &nbsp;&nbsp;7.000 | &nbsp;&nbsp;09-15-30 | 2468000 | &nbsp;&nbsp;&nbsp;&nbsp;2520329 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Yield (%)** | **Shares** | **Value** |
| **Short-term investments 1.2% (0.7% of Total investments)** | **Short-term investments 1.2% (0.7% of Total investments)** |  | **$5436010** |
| (Cost $5,436,182) |  |  |  |
| **Short-term funds 1.2%** |  |  | &nbsp;&nbsp;&nbsp;**5436010** |
| John Hancock Collateral Trust (I) | &nbsp;&nbsp;3.5556(J) | 543514 | &nbsp;&nbsp;&nbsp;5436010 |

---

---

| | |
|:---|:---|
| **Total investments (Cost $748,617,618) 160.9%** | **$727294644** |
| **Other assets and liabilities, net (60.9%)** | **(275215317)** |
| **Total net assets 100.0%** | **$452079327** |

---

---

| | |
|:---|:---|
| The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund unless otherwise indicated. | The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund unless otherwise indicated. |
| ^All par values are denominated in U.S. dollars unless otherwise indicated. | ^All par values are denominated in U.S. dollars unless otherwise indicated. |
| **Security Abbreviations and Legend** | **Security Abbreviations and Legend** |
| CME | CME Group Published Rates |
| CMT | Constant Maturity Treasury |
| ICE | Intercontinental Exchange |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| (A) | Includes preferred stocks and hybrid securities with characteristics of both equity and debt that pay dividends on a periodic basis. |
| (B) | All or a portion of this security is on loan as of 4-30-26, and is a component of the fund's leverage under the Credit Facility Agreement. The value of securities on loan amounted to $217,017,565. |
| (C) | All or a portion of this security is pledged as collateral pursuant to the Credit Facility Agreement. Total collateral value at 4-30-26 was $445,750,738. |
| (D) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (E) | Non-income producing security. |
| (F) | 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 $88,597,359 or 19.6% of the fund's net assets as of 4-30-26. |
| (G) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (H) | Includes hybrid securities with characteristics of both equity and debt that trade with, and pay, interest income. |
| (I) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |
| (J) | The rate shown is the annualized seven-day yield as of 4-30-26. |

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6 JOHN HANCOCK PREFERRED INCOME FUND III \| QUARTERLY REPORT SEE NOTES TO FUND'S INVESTMENTS

------

The fund had the following country composition as a percentage of total investments on 4-30-26:

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;&nbsp;&nbsp;89.4% |
| Canada | &nbsp;&nbsp;&nbsp;&nbsp;6.1% |
| France | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Bermuda | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Other countries | &nbsp;&nbsp;&nbsp;&nbsp;2.4% |
| **TOTAL** | **100.0%** |

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SEE NOTES TO FUND'S INVESTMENTS JOHN HANCOCK PREFERRED INCOME FUND III \| QUARTERLY REPORT 7

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#### DERIVATIVES

#### SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** |
| **Counterparty (OTC)/<br> Centrally cleared** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Payments<br> made** | &nbsp;&nbsp;**Payments<br> received** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Floating<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment<br> paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| Centrally cleared | &nbsp;&nbsp;137000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;Fixed 3.662% | &nbsp;&nbsp;&nbsp;&nbsp;USD SOFR Compounded OIS<sup>(a)</sup> | &nbsp;&nbsp;Semi-Annual | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;May 2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$(1283833) | &nbsp;&nbsp;&nbsp;$(1283833) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;68500000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;Fixed 3.473% | &nbsp;&nbsp;&nbsp;&nbsp;USD SOFR Compounded OIS<sup>(a)</sup> | &nbsp;&nbsp;Semi-Annual | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;May 2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(568900) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(568900) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;34400000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;Fixed 3.817% | &nbsp;&nbsp;&nbsp;&nbsp;USD SOFR Compounded OIS<sup>(a)</sup> | &nbsp;&nbsp;Semi-Annual | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2026 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(352083) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(352083) |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;**—** | &nbsp;&nbsp;**$(2204816)** | &nbsp;&nbsp;**$(2204816)** |

---

<sup>(a)</sup> At 4-30-26, the overnight SOFR was 3.660%.

---

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

---

---

| | |
|:---|:---|
| **Derivatives Abbreviations** | **Derivatives Abbreviations** |
| OIS | Overnight Index Swap |
| OTC | Over-the-counter |
| SOFR | Secured Overnight Financing Rate |

---

8 JOHN HANCOCK PREFERRED INCOME FUND III \| QUARTERLY REPORT SEE NOTES TO FUND'S INVESTMENTS

------

Notes to Fund's investments (unaudited)

**Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Investment Management LLC, the fund's valuation designee.**

In order to value the securities, the fund uses the following valuation techniques: Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the fund in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. 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. Swaps are generally valued using evaluated prices obtained from an independent pricing vendor.

In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

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

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 fund's investments as of April 30, 2026, by major security category or type:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 4-30-26** | **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** |  |  |  |  |
| **Preferred securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | **$16334319** | $16334319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1753500** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1753500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2216208** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2216208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**272603663** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262291388 | $10312275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9447938** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9447938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9948787** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9948787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**90326864** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90326864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Corporate bonds** | **311402448** |  | 311402448 |  |
| **Capital preferred securities** | **5304578** |  | 5304578 |  |
| **U.S. Government and Agency obligations** | **2520329** |  | 2520329 |  |
| **Short-term investments** | **5436010** | 5436010 |  |  |
| **Total investments in securities** | **$727294644** | **$397755014** | **$329539630** | **—** |
| **Derivatives:** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| Swap contracts | **$(2204816)** |  | $(2204816) |  |

---

**Investment in affiliated underlying funds. The fund may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. 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** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| John Hancock Collateral Trust | 543514 | $2783688 | $149846716 | $(147194017) | $(215) | $(162) | $263475 |  | $5436010 |

---

For additional information on the fund's significant accounting policies and risks, please refer to the fund's most recent semiannual or annual shareholder report and prospectus.

\|<sub>9</sub>

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** John Hancock Preferred Income Fund III

- **b. Investment Company Act file number:** 811-21287

- **c. CIK number of Registrant:** 0001215913

- **d. LEI of Registrant:** 549300SKQ7P13U1YJN71

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 200 Berkeley Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02116

  - **Telephone number:** 617-543-9634

**Item A.2. Information about the Series.**

- **a. Name of Series:** John Hancock Preferred Income Fund III

- **c. LEI of Series:** 549300SKQ7P13U1YJN71

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $733872805.70

**Total Liabilities:** $281933592.07

**Net Assets:** $451939213.63

**Cash Not Reported:** $2474497.04

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -1170.303073000000 | **1-Year:** -23792.730743000000 | **5-Year:** -57680.140668000000 | **10-Year:** -94607.336500000000 | **30-Year:** -69384.042293000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -912.311489000000 | **1-Year:** -21551.116540000000 | **5-Year:** -54389.073377000000 | **10-Year:** -40474.172794000000 | **30-Year:** -24432.295814000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.46%                | -2.88%               | 4.96%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $366413.01               | $-1310896.91                               |
| Month 2  | $1278946.00              | $-23600071.98                              |
| Month 3  | $479041.44               | $14741123.84                               |

**Designated Index Information**

- **Index Name:** Fund's Designated Reference Portfolio is the Fund's Securities Portfolio

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                     | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Pinnacle Financial Partners Inc.                         | PINNACLE FINANCIAL PARTNERS IN PREFERRED STOCK VAR         | CUSIP: 72348N208<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     41375 | NS      | $1062510.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners Inc.                         | PINNACLE FINANCIAL PARTNERS IN PREFERRED STOCK VAR         | CUSIP: 72348N307<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    192300 | NS      | $5038260.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                           | PUBLIC STORAGE PREFERRED STOCK 4.625                       | CUSIP: 74460W552<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    185750 | NS      | $3428945.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Puget Energy Inc.                                        | PUGET ENERGY INC JR SUBORDINA 144A 09/56 VAR               | CUSIP: 745310AR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4150000 | PA      | $4155195.80   | 0.92%             | 2056-09-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| South Bow Canadian infrastructure Holdings Ltd.          | SOUTH BOW CANADIAN INFRASTRUCT COMPANY GUAR 03/55 VAR      | CUSIP: 836720AJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   4700000 | PA      | $4969002.15   | 1.10%             | 2055-03-01      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| The Southern Company                                     | SOUTHERN CO/THE JR SUBORDINA 04/58 VAR                     | CUSIP: 842587EJ2<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   4135000 | PA      | $4180319.60   | 0.92%             | 2058-04-01      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Spire Inc.                                               | SPIRE INC JR SUBORDINA 06/56 VAR                           | CUSIP: 84857LAE1<br>LEI: 549300NXSY15DRY2R511 | Long             | DBT              | CORP              | US        |   4050000 | PA      | $4060048.05   | 0.90%             | 2056-06-01      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| State Street Corporation                                 | STATE STREET CORP JR SUBORDINA 12/99 VAR                   | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   4816000 | PA      | $4962719.44   | 1.10%             | 2029-03-15      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| Wells Fargo and Company                                  | WELLS FARGO and CO JR SUBORDINA 12/99 VAR                  | CUSIP: 95002YAA1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4762000 | PA      | $5000190.48   | 1.11%             | 2028-09-15      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| Wesbanco Inc.                                            | WESBANCO INC PREFERRED STOCK VAR                           | CUSIP: 950810887<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    172650 | NS      | $4440558.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Whirlpool Corporation                                    | WHIRLPOOL CORP PREFFERD STOCK                              | CUSIP: 963320205<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EP               | CORP              | US        |     42000 | NS      | $1753500.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corporation                           | WINTRUST FINANCIAL CORP PREFERRED STOCK VAR                | CUSIP: 97650W702<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EP               | CORP              | US        |    154550 | NS      | $4094029.50   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| PGandE Corporation                                       | PGandE CORP JR SUBORDINA 03/55 VAR                         | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2468536.80   | 0.55%             | 2055-03-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| PGandE Corporation                                       | PGandE CORP JR SUBORDINA 09/56 VAR                         | CUSIP: 69331CAN8<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   2650000 | PA      | $2649469.21   | 0.59%             | 2056-09-15      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| The PNC Financial Services Group Inc.                    | PNC FINANCIAL SERVICES GROUP I JR SUBORDINA 12/99 VAR      | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   4794000 | PA      | $4825884.89   | 1.07%             | 2027-09-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| TXNM Energy Inc.                                         | TXNM ENERGY INC JR SUBORDINA 144A 07/56 VAR                | CUSIP: 69349HAJ6<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4984039.00   | 1.10%             | 2056-07-31      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| PPL Corporation                                          | PPL CORP PREFERRED STOCK 02/29 7                           | CUSIP: 69351T866<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EP               | CORP              | US        |     94000 | NS      | $4741360.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares Inc.                           | FIRST CITIZENS BANCSHARES INC/ PREFERRED STOCK VAR         | CUSIP: 31959X400<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EP               | CORP              | US        |    139425 | NS      | $3512115.75   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corporation                                | FIRST HORIZON CORP PREFERRED STOCK 6.75                    | CUSIP: 320517840<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EP               | CORP              | US        |    188850 | NS      | $4730692.50   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                           | MORGAN STANLEY PREFERRED STOCK 6.375                       | CUSIP: 61761J406<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    170000 | NS      | $4268700.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                           | MORGAN STANLEY PREFERRED STOCK 7.125                       | CUSIP: 61762V200<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    264203 | NS      | $6705472.14   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                           | MORGAN STANLEY PREFERRED STOCK 6.625                       | CUSIP: 61762V838<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    107475 | NS      | $2747061.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                           | MORGAN STANLEY PREFFERD STOCK                              | CUSIP: 61762V853<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    169075 | NS      | $4272525.25   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                                  | PEBBLEBROOK HOTEL TRUST PREFERRED STOCK 6.375              | CUSIP: 70509V803<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    214400 | NS      | $4285856.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66 Company                                      | PHILLIPS 66 CO COMPANY GUAR 03/56 VAR                      | CUSIP: 718547BA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3105000 | PA      | $3115206.14   | 0.69%             | 2056-03-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| The Phoenix Companies Inc.                               | PHOENIX COS INC/THE PREFERRED STOCK 01/32 7.45             | CUSIP: 71902E208<br>LEI: 549300Q3ENSFI87YLC32 | Long             | EP               | CORP              | US        |    574500 | NS      | $10312275.00  | 2.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Rakuten Group Inc.                                       | RAKUTEN GROUP INC SUBORDINATED 144A 12/99 VAR              | CUSIP: 75102WAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | JP        |   1516000 | PA      | $1548626.68   | 0.34%             | 2029-12-15      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| Regions Financial Corporation                            | REGIONS FINANCIAL CORP PREFERRED STOCK VAR                 | CUSIP: 7591EP860<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |    181025 | NS      | $4659583.50   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corporation                            | REGIONS FINANCIAL CORP PREFERRED STOCK 4.45                | CUSIP: 7591EP886<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |     33534 | NS      | $560688.48    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinsurance Group of America Incorporated                | REINSURANCE GROUP OF AMERICA I PREFFERD STOCK              | CUSIP: 759351885<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EP               | CORP              | US        |    167725 | NS      | $4261892.25   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer LP                                       | ENERGY TRANSFER LP JR SUBORDINA 02/56 VAR                  | CUSIP: 29273VBH2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   3910000 | PA      | $3938097.26   | 0.87%             | 2056-02-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Enstar Group Limited                                     | ENSTAR GROUP LTD PREFERRED STOCK VAR                       | CUSIP: 29359U109<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |     39475 | NS      | $907925.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corporation                                      | ENTERGY CORP JR SUBORDINA 12/54 VAR                        | CUSIP: 29364GAQ6<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |   4250000 | PA      | $4375281.50   | 0.97%             | 2054-12-01      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| EUSHI Finance Inc.                                       | EUSHI FINANCE INC COMPANY GUAR 12/54 VAR                   | CUSIP: 29882DAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3280000 | PA      | $3395788.79   | 0.75%             | 2054-12-15      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| Eversource Energy                                        | EVERSOURCE ENERGY JR SUBORDINA 08/56 VAR                   | CUSIP: 30040WBD9<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |   2275000 | PA      | $2273981.26   | 0.50%             | 2056-08-15      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| FandG Annuities and Life Inc.                            | FandG ANNUITIES and LIFE INC PREFERRED STOCK 12/53 7.95    | CUSIP: 30190A203<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    167150 | NS      | $4170392.50   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| FandG Annuities and Life Inc.                            | FandG ANNUITIES and LIFE INC PREFERRED STOCK 01/65 7.3     | CUSIP: 30190A609<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    179775 | NS      | $3863364.75   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Farm Credit Bank of Texas                                | FARM CREDIT BANK OF TEXAS JR SUBORDINA 12/99 VAR           | CUSIP: 30767EAF6<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |   2468000 | PA      | $2520329.00   | 0.56%             | 2174-09-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| First Citizens BancShares Inc.                           | FIRST CITIZENS BANCSHARES INC/ JR SUBORDINA 12/99 VAR      | CUSIP: 31959XAG8<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |   3400000 | PA      | $3417017.00   | 0.76%             | 2030-12-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| The Goldman Sachs Group Inc.                             | GOLDMAN SACHS GROUP INC/THE JR SUBORDINA 12/99 VAR         | CUSIP: 38141GA38<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   5675000 | PA      | $5965741.60   | 1.32%             | 2029-02-10      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| The Goldman Sachs Group Inc.                             | GOLDMAN SACHS GROUP INC/THE JR SUBORDINA 12/99 VAR         | CUSIP: 38141GA79<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   3831000 | PA      | $4003712.97   | 0.89%             | 2029-05-10      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| HA Sustainable Infrastructure Capital Inc.               | HA SUSTAINABLE INFRASTRUCTURE COMPANY GUAR 11/56 VAR       | CUSIP: 41068XAH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2430000 | PA      | $2453036.40   | 0.54%             | 2056-11-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Huntington Bancshares Incorporated                       | HUNTINGTON BANCSHARES INC/OH JR SUBORDINA 12/99 VAR        | CUSIP: 446150BG8<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2753946.25   | 0.61%             | 2030-10-15      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Jackson Financial Inc.                                   | JACKSON FINANCIAL INC PREFERRED STOCK VAR                  | CUSIP: 46817M206<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     79853 | NS      | $2081767.71   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase and Co.                                   | JPMORGAN CHASE and CO JR SUBORDINA 12/99 VAR               | CUSIP: 48128BAQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4895000 | PA      | $5099292.83   | 1.13%             | 2029-06-01      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| KKR and Co. Inc.                                         | KKR and CO INC PREFERRED STOCK 03/28 6.25                  | CUSIP: 48251W500<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     83000 | NS      | $3683540.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR Group Finance Co. IX LLC                             | KKR GROUP FINANCE CO IX LLC PREFERRED STOCK 04/61 4.625    | CUSIP: 48253M104<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    334149 | NS      | $5673850.02   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                                  | KEYCORP PREFERRED STOCK VAR                                | CUSIP: 493267702<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |     43900 | NS      | $1098378.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                                  | KEYCORP PREFERRED STOCK VAR                                | CUSIP: 493267843<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |    101375 | NS      | $2553636.25   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                                  | KEYCORP PREFERRED STOCK 5.65                               | CUSIP: 493267876<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |    208259 | NS      | $4475485.91   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Land O'Lakes Inc.                                        | LAND O' LAKES INC JR SUBORDINA 144A 12/49 8                | CUSIP: 514666AK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    880000 | PA      | $872951.38    | 0.19%             | 2026-05-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Lincoln National Corporation                             | LINCOLN NATIONAL CORP PREFERRED STOCK 9                    | CUSIP: 534187885<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EP               | CORP              | US        |    183500 | NS      | $4857245.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MandT Bank Corporation                                   | MandT BANK CORP PREFERRED STOCK 6.35                       | CUSIP: 55261F849<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    163475 | NS      | $4098318.25   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| MandT Bank Corporation                                   | MandT BANK CORP PREFERRED STOCK 7.5                        | CUSIP: 55261F864<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    214100 | NS      | $5692919.00   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE CAPITAL TRUST IV                                 | METLIFE CAPITAL TRUST IV JR SUBORDINA 144A 12/67 7.875     | CUSIP: 591560AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4860000 | PA      | $5304578.22   | 1.17%             | 2037-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Strategy Inc                                             | STRATEGY INC PREFERRED STOCK 10                            | CUSIP: 594972861<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EP               | CORP              | US        |     73700 | NS      | $5663845.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                           | MORGAN STANLEY PREFERRED STOCK 6.875                       | CUSIP: 61763E207<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    148425 | NS      | $3747731.25   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| NGL Energy Partners LP                                   | NGL ENERGY PARTNERS LP PREFERRED STOCK VAR                 | CUSIP: 62913M206<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     85625 | NS      | $2159462.50   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy Inc.                                          | NRG ENERGY INC JR SUBORDINA 144A 12/99 VAR                 | CUSIP: 629377CU4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   7240000 | PA      | $7864822.79   | 1.74%             | 2028-03-15      | Variable      | 10.25%                | No            |                  2 | On Loan: No      |
| National Rural Utilities Cooperative Finance Corporation | NATIONAL RURAL UTILITIES COOPE PREFERRED STOCK 05/64 5.5   | CUSIP: 637432105<br>LEI: 4NYF266XZC35SCTGX023 | Long             | EP               | CORP              | US        |     29708 | NS      | $715071.56    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Navient Corporation                                      | NAVIENT CORP PREFERRED STOCK 12/43 6                       | CUSIP: 63938C405<br>LEI: 54930067J0ZNOEBRW338 | Long             | EP               | CORP              | US        |    234238 | NS      | $4321691.10   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc.                                      | NEXTERA ENERGY INC PREFERRED STOCK 11/27 7.234             | CUSIP: 65339F119<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     42800 | NS      | $2305636.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc.                                      | NEXTERA ENERGY INC PREFFERD STOCK                          | CUSIP: 65339F655<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     68711 | NS      | $3608701.72   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Capital Holdings Inc.                     | NEXTERA ENERGY CAPITAL HOLDING PREFERRED STOCK 06/85 6.5   | CUSIP: 65339K837<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | EP               | CORP              | US        |    199450 | NS      | $5105920.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Natural Holding Company                        | NORTHWEST NATURAL HOLDING CO JR SUBORDINA 09/55 VAR        | CUSIP: 66765NAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5700000 | PA      | $5907576.90   | 1.31%             | 2055-09-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Oracle Corporation                                       | ORACLE CORP PREFERRED STOCK 01/29 6.5                      | CUSIP: 68389X204<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EP               | CORP              | US        |     77750 | NS      | $3784092.50   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| PGandE Corporation                                       | PGandE CORP PREFERRED STOCK 12/27 6                        | CUSIP: 69331C306<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EP               | CORP              | US        |     38750 | NS      | $1629825.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| The Allstate Corporation                                 | ALLSTATE CORP/THE PREFFERD STOCK                           | CUSIP: 020002788<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |     82350 | NS      | $2156746.50   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc.                                      | ALLY FINANCIAL INC JR SUBORDINA 12/99 VAR                  | CUSIP: 02005NCB4<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2398110.72   | 0.53%             | 2031-08-15      | Variable      | 7.10%                 | No            |                  2 | On Loan: No      |
| AltaGas Ltd.                                             | ALTAGAS LTD JR SUBORDINA 144A 10/54 VAR                    | CUSIP: 021361AD2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   4900000 | PA      | $5090791.30   | 1.13%             | 2054-10-15      | Variable      | 7.20%                 | No            |                  2 | On Loan: No      |
| American Electric Power Company Inc.                     | AMERICAN ELECTRIC POWER CO INC JR SUBORDINA 03/56 VAR      | CUSIP: 02557TAF6<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   2525000 | PA      | $2516966.21   | 0.56%             | 2056-03-15      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| American National Group Inc.                             | AMERICAN NATIONAL GROUP INC PREFERRED STOCK 7.375          | CUSIP: 025676859<br>LEI: 549300RK5RZQ740FPL83 | Long             | EP               | CORP              | US        |    240700 | NS      | $5966953.00   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| American National Group Inc.                             | AMERICAN NATIONAL GROUP INC JR SUBORDINA 12/55 VAR         | CUSIP: 025676AR8<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |   4050000 | PA      | $3957776.64   | 0.88%             | 2055-12-01      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| American Financial Group Inc.                            | AMERICAN FINANCIAL GROUP INC/O PREFERRED STOCK 12/59 5.125 | CUSIP: 025932880<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EP               | CORP              | US        |    162725 | NS      | $3062484.50   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management Inc.                            | APOLLO GLOBAL MANAGEMENT INC PREFERRED STOCK 09/53 VAR     | CUSIP: 03769M205<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    106959 | NS      | $2748846.30   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Athene Holding Ltd.                                      | ATHENE HOLDING LTD PREFERRED STOCK VAR                     | CUSIP: 04686J507<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |    393900 | NS      | $10064145.00  | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Athene Holding Ltd.                                      | ATHENE HOLDING LTD PREFERRED STOCK VAR                     | CUSIP: 04686J861<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |    350000 | NS      | $8522500.00   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas                                              | BNP PARIBAS SA JR SUBORDINA 144A 12/99 VAR                 | CUSIP: 05602XQR2<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2333000 | PA      | $2317193.46   | 0.51%             | 2033-12-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                              | BNP PARIBAS SA JR SUBORDINA 144A 12/99 VAR                 | CUSIP: 05602XQS0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2350000 | PA      | $2363785.10   | 0.52%             | 2036-04-17      | Variable      | 7.20%                 | No            |                  2 | On Loan: No      |
| BW Real Estate Inc.                                      | BW REAL ESTATE INC SR UNSECURED 144A 12/99 VAR             | CUSIP: 05614HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2770000 | PA      | $2819715.96   | 0.62%             | 2030-03-30      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                       | BANCO SANTANDER SA JR SUBORDINA 12/99 VAR                  | CUSIP: 05971KAQ2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   3300000 | PA      | $3918406.80   | 0.87%             | 2033-05-21      | Variable      | 9.62%                 | No            |                  2 | On Loan: No      |
| Banc of California Inc.                                  | BANC OF CALIFORNIA INC PREFERRED STOCK VAR                 | CUSIP: 05990K841<br>LEI: 549300ZKWUJDP6LJ1X87 | Long             | EP               | CORP              | US        |     92250 | NS      | $2365290.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation                              | BANK OF AMERICA CORP PREFERRED STOCK 12/86 6.45            | CUSIP: 060505179<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    127225 | NS      | $3283677.25   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation                              | BANK OF AMERICA CORP PREFERRED STOCK 7.25                  | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |      9500 | NS      | $11616315.00  | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation                              | BANK OF AMERICA CORP PREFERRED STOCK 5                     | CUSIP: 06055H202<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    142300 | NS      | $2921419.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation                              | BANK OF AMERICA CORP JR SUBORDINA 12/99 VAR                | CUSIP: 06055HAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3950000 | PA      | $3976856.05   | 0.88%             | 2027-04-27      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corporation                  | BANK OF NEW YORK MELLON CORP/T JR SUBORDINA 12/99 VAR      | CUSIP: 064058AN0<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   3630000 | PA      | $3749492.34   | 0.83%             | 2030-03-20      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                             | BARCLAYS PLC JR SUBORDINA 12/99 VAR                        | CUSIP: 06738ECN3<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   1775000 | PA      | $1980829.00   | 0.44%             | 2029-12-15      | Variable      | 9.62%                 | No            |                  2 | On Loan: No      |
| Brighthouse Financial Inc.                               | BRIGHTHOUSE FINANCIAL INC PREFERRED STOCK 6.6              | CUSIP: 10922N301<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    345263 | NS      | $5593260.60   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Finance Inc.                                  | BROOKFIELD FINANCE INC PREFERRED STOCK 10/80 4.625         | CUSIP: 11271L102<br>LEI: N/A                  | Long             | EP               | CORP              | CA        |    211375 | NS      | $3269971.25   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Infrastructure Finance ULC                    | BROOKFIELD INFRASTRUCTURE FINA COMPANY GUAR 03/55 VAR      | CUSIP: 11276BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   3592000 | PA      | $3627930.78   | 0.80%             | 2055-03-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| CMS Energy Corporation                                   | CMS ENERGY CORP PREFERRED STOCK 03/79 5.875                | CUSIP: 125896845<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    372250 | NS      | $8610142.50   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corporation                                   | CMS ENERGY CORP PREFERRED STOCK 10/78 5.875                | CUSIP: 125896852<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    139475 | NS      | $3182819.50   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corporation                                   | CMS ENERGY CORP PREFERRED STOCK 03/78 5.625                | CUSIP: 125896860<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    235000 | NS      | $5170000.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corporation                                   | CMS ENERGY CORP JR SUBORDINA 06/55 VAR                     | CUSIP: 125896BY5<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   3596000 | PA      | $3684375.30   | 0.82%             | 2055-06-01      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                       | CANADIAN IMPERIAL BANK OF COMM JR SUBORDINA 07/86 VAR      | CUSIP: 13607QUM2<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   3090000 | PA      | $3080451.28   | 0.68%             | 2086-07-28      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Carlyle Finance L.L.C.                                   | CARLYLE FINANCE LLC PREFERRED STOCK 05/61 4.625            | CUSIP: 14314C105<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     84929 | NS      | $1486257.50   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc.                                  | CENTERPOINT ENERGY INC JR SUBORDINA 02/55 VAR              | CUSIP: 15189TBJ5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   4615000 | PA      | $4873707.67   | 1.08%             | 2055-02-15      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                           | CITIGROUP INC JR SUBORDINA 12/99 VAR                       | CUSIP: 172967PC9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6164520.00   | 1.36%             | 2028-05-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                           | CITIGROUP INC JR SUBORDINA 12/99 VAR                       | CUSIP: 172967PE5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5199590.00   | 1.15%             | 2028-11-15      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                           | CITIGROUP INC JR SUBORDINA 12/99 VAR                       | CUSIP: 172967QJ3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2733093.50   | 0.60%             | 2031-02-15      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| CITIGROUP CAPITAL XIII                                   | CITIGROUP CAPITAL XIII PREFERRED STOCK 10/40 VAR           | CUSIP: 173080201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    219800 | NS      | $6459922.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                                           | CITIGROUP INC JR SUBORDINA 12/99 VAR                       | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3053094.00   | 0.68%             | 2030-02-15      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                           | CITIGROUP INC JR SUBORDINA 12/99 VAR                       | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3725000 | PA      | $3781999.95   | 0.84%             | 2030-08-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc.                            | CITIZENS FINANCIAL GROUP INC PREFERRED STOCK 7.375         | CUSIP: 174610600<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    271975 | NS      | $7057751.25   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Communications Inc.                               | ROGERS COMMUNICATIONS INC SUBORDINATED 04/55 VAR           | CUSIP: 775109DH1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   6050000 | PA      | $6241243.71   | 1.38%             | 2055-04-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| SCE Trust VII                                            | SCE TRUST VII PREFERRED STOCK 7.5                          | CUSIP: 783892201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    280775 | NS      | $7083953.25   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| SBL Holdings LLC                                         | SBL HOLDINGS INC JR SUBORDINA 144A VAR                     | CUSIP: 78397DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7200000 | PA      | $6808289.04   | 1.51%             | 2030-05-13      | Variable      | 9.51%                 | No            |                  2 | On Loan: No      |
| SBL Holdings LLC                                         | SBL HOLDINGS INC JR SUBORDINA 144A 12/99 VAR               | CUSIP: 78397DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7231549.44   | 1.60%             | 2026-11-13      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| SCE Trust VI                                             | SCE TRUST VI PREFERRED STOCK 5                             | CUSIP: 78410V200<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    155550 | NS      | $2793678.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE Trust VIII                                           | SCE TRUST VIII PREFFERD STOCK                              | CUSIP: 80620A208<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    161850 | NS      | $3873070.50   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| The Charles Schwab Corporation                           | CHARLES SCHWAB CORP/THE JR SUBORDINA 12/99 VAR             | CUSIP: 808513CM5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2905000 | PA      | $2906288.11   | 0.64%             | 2031-06-01      | Variable      | 6.10%                 | No            |                  2 | On Loan: No      |
| Sempra                                                   | SEMPRA PREFERRED STOCK 07/79 5.75                          | CUSIP: 816851604<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EP               | CORP              | US        |    370000 | NS      | $7980900.00   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                                                   | SEMPRA JR SUBORDINA 10/54 VAR                              | CUSIP: 816851BS7<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   2850000 | PA      | $2900462.10   | 0.64%             | 2054-10-01      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Sempra                                                   | SEMPRA JR SUBORDINA 10/54 VAR                              | CUSIP: 816851BT5<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   2725000 | PA      | $2746047.90   | 0.61%             | 2054-10-01      | Variable      | 6.40%                 | No            |                  2 | On Loan: No      |
| Sierra Pacific Power Company                             | SIERRA PACIFIC POWER CO JR SUBORDINA 12/55 VAR             | CUSIP: 826418BR5<br>LEI: QB888G5GSVGE1LD1WV84 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1573519.04   | 0.35%             | 2055-12-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| Societe Generale                                         | SOCIETE GENERALE SA JR SUBORDINA 144A 12/99 VAR            | CUSIP: 83370RAF5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   3150000 | PA      | $3117575.48   | 0.69%             | 2035-07-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| The Southern Company                                     | SOUTHERN CO/THE PREFERRED STOCK 01/80 4.95                 | CUSIP: 842587800<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |    120400 | NS      | $2404388.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| The Southern Company                                     | SOUTHERN CO/THE PREFERRED STOCK 12/28 7.125                | CUSIP: 842587842<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |     91800 | NS      | $4776354.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| The Southern Company                                     | SOUTHERN CO/THE PREFERRED STOCK 03/85 6.5                  | CUSIP: 842587867<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |     73400 | NS      | $1871700.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunoco LP                                                | SUNOCO LP JR SUBORDINA 144A 12/99 VAR                      | CUSIP: 86765KAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3850000 | PA      | $3986890.60   | 0.88%             | 2030-09-18      | Variable      | 7.88%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                                      | SYNCHRONY FINANCIAL PREFERRED STOCK VAR                    | CUSIP: 87165B400<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EP               | CORP              | US        |    168350 | NS      | $4427605.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile USA Inc.                                        | T-MOBILE USA INC PREFERRED STOCK 09/69 6.25                | CUSIP: 87264A105<br>LEI: 549300V2JRLO5DIFGE82 | Long             | EP               | CORP              | US        |    210525 | NS      | $5252598.75   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG Operating Group II L.P.                              | TPG OPERATING GROUP II LP PREFERRED STOCK 03/64 6.95       | CUSIP: 872652102<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    261675 | NS      | $6528791.25   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Telephone and Data Systems Inc.                          | TELEPHONE AND DATA SYSTEMS INC PREFERRED STOCK 6           | CUSIP: 879433761<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    469125 | NS      | $9237071.25   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| TELUS Corporation                                        | TELUS CORP JR SUBORDINA 10/55 VAR                          | CUSIP: 87971MCM3<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   3825000 | PA      | $3956304.60   | 0.88%             | 2055-10-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| TELUS Corporation                                        | TELUS CORP JR SUBORDINA 06/56 VAR                          | CUSIP: 87971MCR2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   3690000 | PA      | $3669689.87   | 0.81%             | 2056-06-09      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corporation                             | TRUIST FINANCIAL CORP PREFERRED STOCK 4.75                 | CUSIP: 89832Q695<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |    191300 | NS      | $3592614.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                             | UBS GROUP AG JR SUBORDINA 144A 12/99 VAR                   | CUSIP: 902613BW7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   4925000 | PA      | $4998466.23   | 1.11%             | 2036-01-08      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| UMB Financial Corporation                                | UMB FINANCIAL CORP PREFERRED STOCK VAR                     | CUSIP: 902788405<br>LEI: 549300MGEH3N3CUCV828 | Long             | EP               | CORP              | US        |     79725 | NS      | $2109523.50   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Bancorp                                             | US BANCORP PREFERRED STOCK 5.5                             | CUSIP: 902973759<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |     44250 | NS      | $977925.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Array Digital Infrastructure Inc.                        | ARRAY DIGITAL INFRASTRUCTURE I PREFERRED STOCK 09/69 6.25  | CUSIP: 911684702<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     57420 | NS      | $1151845.20   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Array Digital Infrastructure Inc.                        | ARRAY DIGITAL INFRASTRUCTURE I PREFERRED STOCK 06/70 5.5   | CUSIP: 911684884<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     38150 | NS      | $692804.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                                               | UNUM GROUP PREFERRED STOCK 06/58 6.25                      | CUSIP: 91529Y601<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EP               | CORP              | US        |    170000 | NS      | $4005200.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Venture Global LNG Inc                                   | VENTURE GLOBAL LNG INC JR SUBORDINA 144A 12/99 VAR         | CUSIP: 92332YAF8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8809000 | PA      | $8712477.14   | 1.93%             | 2029-09-30      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| JH COLLATERAL                                            | JH COLLATERAL                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |    543513 | NS      | $5435998.72   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp.                                             | VISTRA CORP JR SUBORDINA 144A 12/99 VAR                    | CUSIP: 92840MAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8982000 | PA      | $9655614.07   | 2.14%             | 2029-01-15      | Variable      | 8.88%                 | No            |                  2 | On Loan: No      |
| AEGON Funding Company LLC                                | AEGON FUNDING CO LLC PREFERRED STOCK 12/49 5.1             | CUSIP: 00775V104<br>LEI: KEIOKM01PSK5VZ5CCI74 | Long             | EP               | CORP              | US        |    347450 | NS      | $6761377.00   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group Inc.                           | AFFILIATED MANAGERS GROUP INC PREFERRED STOCK 03/64 6.75   | CUSIP: 008252827<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |    282125 | NS      | $6759715.00   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Algonquin Power and Utilities Corp.                      | ALGONQUIN POWER and UTILITIES CO PREFERRED STOCK 07/79 VAR | CUSIP: 015857808<br>LEI: 549300K5VIUTJXQL7X75 | Long             | EP               | CORP              | CA        |    112375 | NS      | $2936358.75   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                               | ALLIANZ SE JR SUBORDINA 144A 12/99 VAR                     | CUSIP: 018820AF7<br>LEI: N/A                  | Long             | DBT              | CORP              | DE        |   2000000 | PA      | $2001356.00   | 0.44%             | 2034-10-30      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Corporation                              | BANK OF AMERICA CORP JR SUBORDINA 12/99 VAR                | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5250000 | PA      | $5414661.00   | 1.20%             | 2030-05-01      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Bank of America Corporation                              | BANK OF AMERICA CORP JR SUBORDINA 12/99 VAR                | CUSIP: 06055HAK9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1775000 | PA      | $1793941.03   | 0.40%             | 2030-07-26      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Bank of Hawaii Corporation                               | BANK OF HAWAII CORP PREFERRED STOCK 8                      | CUSIP: 062540307<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EP               | CORP              | US        |     86596 | NS      | $2290464.20   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon Corporation                  | BANK OF NEW YORK MELLON CORP/T PREFERRED STOCK VAR         | CUSIP: 064058845<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EP               | CORP              | US        |     98225 | NS      | $2507684.25   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc.                            | CITIZENS FINANCIAL GROUP INC PREFERRED STOCK VAR           | CUSIP: 174610808<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     98750 | NS      | $2489487.50   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc.                            | CITIZENS FINANCIAL GROUP INC JR SUBORDINA 12/99 VAR        | CUSIP: 174610AQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7495796.25   | 1.66%             | 2026-07-06      | Variable      | 7.10%                 | No            |                  2 | On Loan: No      |
| CoBank ACB                                               | COBANK ACB JR SUBORDINA 12/99 VAR                          | CUSIP: 19075QAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3950000 | PA      | $3942704.55   | 0.87%             | 2027-10-01      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| CoBank ACB                                               | COBANK ACB JR SUBORDINA 12/99 VAR                          | CUSIP: 19075QAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5190000 | PA      | $5236202.73   | 1.16%             | 2029-07-01      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| Vornado Realty Trust                                     | VORNADO REALTY TRUST PREFERRED STOCK 5.4                   | CUSIP: 929042844<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    126931 | NS      | $2233985.60   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc.                                      | VOYA FINANCIAL INC JR SUBORDINA 12/99 VAR                  | CUSIP: 929089AG5<br>LEI: 549300T065Z4KJ686G75 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3389750.00   | 0.75%             | 2028-09-15      | Variable      | 7.76%                 | No            |                  2 | On Loan: No      |
| Wells Fargo and Company                                  | WELLS FARGO and CO PREFERRED STOCK 7.5                     | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |     11000 | NS      | $13098910.00  | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc.                                         | XCEL ENERGY INC PREFERRED STOCK 10/85 6.25                 | CUSIP: 98389B878<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EP               | CORP              | US        |    159000 | NS      | $3882780.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Renaissancere Holdings Ltd.                              | RENAISSANCERE HOLDINGS LTD PREFERRED STOCK 4.2             | CUSIP: EP0599001<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EP               | CORP              | BM        |    244375 | NS      | $3804918.75   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Insurance Holdings Limited                         | ASPEN INSURANCE HOLDINGS LTD PREFERRED STOCK 7             | CUSIP: EP0607309<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |    114425 | NS      | $2827441.75   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                    | FEDERAL NATIONAL MORTGAGE ASSO PREFERRED STOCK VAR         | CUSIP: 313586752<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | EP               | USGSE             | US        |     80000 | NS      | $936000.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                                      | FIFTH THIRD BANCORP PREFERRED STOCK VAR                    | CUSIP: 316773837<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |    188925 | NS      | $4876154.25   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                                      | FIFTH THIRD BANCORP PREFERRED STOCK 6                      | CUSIP: 316773886<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |    171195 | NS      | $4041913.95   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| SoftBank Group Corp.                                     | SOFTBANK GROUP CORP SUBORDINATED REGS 04/61 VAR            | CUSIP: YJ4096733<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    775000 | PA      | $714919.67    | 0.16%             | 2061-04-29      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp.                                     | SOFTBANK GROUP CORP SUBORDINATED REGS 10/65 VAR            | CUSIP: YJ4096766<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |   2265000 | PA      | $2089172.49   | 0.46%             | 2065-10-29      | Variable      | 8.25%                 | No            |                  2 | On Loan: No      |
| First Busey Corporation                                  | FIRST BUSEY CORP PREFERRED STOCK 8.25                      | CUSIP: 319383600<br>LEI: 549300X4ZNLYSX7GUY60 | Long             | EP               | CORP              | US        |     86000 | NS      | $2223960.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| The AES Corporation                                      | AES CORP/THE JR SUBORDINA 01/55 VAR                        | CUSIP: 00130HCK9<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |   5056000 | PA      | $5150703.94   | 1.14%             | 2055-01-15      | Variable      | 7.60%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial Inc.                                | COREBRIDGE FINANCIAL INC PREFERRED STOCK 12/64 6.375       | CUSIP: 21871X208<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    134901 | NS      | $3230878.95   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Corebridge Financial Inc.                                | COREBRIDGE FINANCIAL INC JR SUBORDINA 12/99 VAR            | CUSIP: 21871XAU3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2880000 | PA      | $2962267.20   | 0.66%             | 2030-12-01      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| DTE Energy Company                                       | DTE ENERGY CO PREFERRED STOCK 10/85 6.25                   | CUSIP: 233331792<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |    242500 | NS      | $6004300.00   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Company                                       | DTE ENERGY CO PREFERRED STOCK 12/77 5.25                   | CUSIP: 233331859<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |    230000 | NS      | $4995600.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc.                                     | DOMINION ENERGY INC JR SUBORDINA 02/56 VAR                 | CUSIP: 25746UEA3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   3145000 | PA      | $3150808.82   | 0.70%             | 2056-02-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corporation                                  | DUKE ENERGY CORP PREFERRED STOCK 5.75                      | CUSIP: 26441C501<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EP               | CORP              | US        |    294775 | NS      | $7369375.00   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Emera US Finance LLC                                     | EMERA US FINANCE LLC COMPANY GUAR 10/56 VAR                | CUSIP: 29103HAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3160000 | PA      | $3169451.56   | 0.70%             | 2056-10-01      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                            | ENBRIDGE INC SUBORDINATED 01/84 VAR                        | CUSIP: 29250NBT1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   6325000 | PA      | $7204875.49   | 1.59%             | 2084-01-15      | Variable      | 8.50%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                       | ENERGY TRANSFER LP JR SUBORDINA 12/99 VAR                  | CUSIP: 29273VAJ9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1805000 | PA      | $1820902.05   | 0.40%             | 2028-02-15      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                       | ENERGY TRANSFER LP JR SUBORDINA 12/99 VAR                  | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   8245000 | PA      | $8467903.58   | 1.87%             | 2030-05-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Fulton Financial Corporation                             | FULTON FINANCIAL CORP PREFERRED STOCK 5.125                | CUSIP: 360271308<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EP               | CORP              | US        |    147225 | NS      | $2723662.50   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Atlantic (Fin) Company                            | GLOBAL ATLANTIC FIN CO COMPANY GUAR 144A 10/54 VAR         | CUSIP: 37959GAG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4750000 | PA      | $4763442.50   | 1.05%             | 2054-10-15      | Variable      | 7.95%                 | No            |                  2 | On Loan: No      |
| Huntington Bancshares Incorporated                       | HUNTINGTON BANCSHARES INC/OH PREFFERD STOCK                | CUSIP: 446150773<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EP               | CORP              | US        |    165150 | NS      | $4227840.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| IRS USD P 3.66 20230503-20260503                         | IRS USD P 3.66 20230503-20260503                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        | 137000000 | PA      | $959.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| IRS USD P 3.82 20231226-20261226                         | IRS USD P 3.82 20231226-20261226                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |  34400000 | PA      | $-21630.72    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| IRS USD P 3.47 20230510-20260510                         | IRS USD P 3.47 20230510-20260510                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |  68500000 | PA      | $4945.70      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-28

**Name of Applicant:** John Hancock Preferred Income Fund III

**Signature:** /s/Salvatore Schiavone

**Name of Signer:** Salvatore Schiavone

**Title:** Treasurer