# EDGAR Filing Document

**Accession Number:** 0000756913
**File Stem:** 0000756913-26-000010
**Filing Date:** 2026-3
**Character Count:** 351357
**Document Hash:** 794958d8083e963016bed1872a1fbd7d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000756913-26-000010.hdr.sgml**: 20260305

**ACCESSION NUMBER**: 0000756913-26-000010

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 34

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260305

**DATE AS OF CHANGE**: 20260304

**EFFECTIVENESS DATE**: 20260305

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04146
- **FILM NUMBER:** 26723279

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

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

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

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

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

## Series and Classes Contracts Data

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

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

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

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

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

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

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

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

?xml version='1.0' encoding='ASCII'? b5bec9c0-1d52-434d-b04b-62de8f285c04

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

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

------

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

#### Investment Company Act file number

#### 811-04146

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

------

200 BERKELEY STREET, BOSTON, MA 02116

(Address of principal executive offices) (Zip code)

SALVATORE SCHIAVONE

TREASURER

200 BERKELEY STREET

BOSTON, MA 02116

(Name and address of agent for service)

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

#### Date of fiscal year end:

#### December 31

#### Date of reporting period:

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

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

* John Hancock Managed Volatility Balanced Portfolio 

* John Hancock Managed Volatility Conservative Portfolio 

* John Hancock Managed Volatility Growth Portfolio 

* John Hancock Managed Volatility Moderate Portfolio 

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio
Series I/JELBX

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

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Balanced Portfolio<br>(Series I/JELBX) | $18 | 0.17% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Managed Volatility Balanced Portfolio (Series I/JELBX) returned 9.72% for the year ended December 31, 2025. Global equity markets delivered strong performance in 2025, supported by easing inflation and improving earnings trends. Emerging markets led global performance, while developed market equities also posted solid gains. U.S. equities advanced but underperformed international markets as a weaker U.S. dollar and more attractive non U.S. valuations drove relative outperformance abroad. Market leadership remained concentrated in technology related and artificial intelligence-related sectors, though performance broadened somewhat later in the year as value tilted and international markets gained traction. Fixed income markets also performed well, supported by aggressive monetary easing and interest rate cuts, with global bonds and credit oriented sectors benefiting from the improved rate environment.

#### TOP PERFORMANCE CONTRIBUTORS
**The fund's equity allocation made the largest contribution** \| U.S. large-cap stocks were the leading contributors to absolute performance.

**Fixed income allocation** \| The fund's fixed income allocation to intermediate term bonds contributed to absolute return.

#### TOP PERFORMANCE DETRACTORS
**No meaningful sector detractors** \| At a time where major U.S. stock markets were experiencing positive performance, there were no sectors that detracted from absolute performance.

**Futures contracts** \| The fund's use of futures contracts to manage the volatility of returns and limit the magnitude of losses for the portfolio was a detractor to performance.

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

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

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6299413.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Managed Volatility Balanced Portfolio (Series I/JELBX) | 9.72% | 4.61% | 5.52% |
| S&P 500 Index | 17.88% | 14.42% | 14.82% |
| Morningstar U.S. Moderate Target Allocation Index | 14.60% | 7.54% | 8.88% |
| 50% Bloomberg U.S. Aggregate Bond Index/ 15% MSCI EAFE Index/ 35% Russell 3000 Index | 14.25% | 5.80% | 7.39% |

---

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

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$3876877947 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$3437789 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;16% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.3%** |
| **Equity** | **49.6%** |
| Large blend | 21.7% |
| U.S. large cap | 14.8% |
| Emerging-market equity | 4.1% |
| U.S. mid cap | 3.8% |
| U.S. small cap | 2.8% |
| International equity | 2.4% |
| **Fixed income** | **48.7%** |
| Intermediate bond | 48.7% |
| **Short-term investments and other** | **1.7%** |

---

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

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

Availability of Additional Information

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

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVBP-A-I

12/25

2/26

Managed Volatility Balanced Portfolio

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio
Series II/JAJRX

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

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Balanced Portfolio<br>(Series II/JAJRX) | $39 | 0.37% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Managed Volatility Balanced Portfolio (Series II/JAJRX) returned 9.51% for the year ended December 31, 2025. Global equity markets delivered strong performance in 2025, supported by easing inflation and improving earnings trends. Emerging markets led global performance, while developed market equities also posted solid gains. U.S. equities advanced but underperformed international markets as a weaker U.S. dollar and more attractive non U.S. valuations drove relative outperformance abroad. Market leadership remained concentrated in technology related and artificial intelligence-related sectors, though performance broadened somewhat later in the year as value tilted and international markets gained traction. Fixed income markets also performed well, supported by aggressive monetary easing and interest rate cuts, with global bonds and credit oriented sectors benefiting from the improved rate environment.

#### TOP PERFORMANCE CONTRIBUTORS
**The fund's equity allocation made the largest contribution** \| U.S. large-cap stocks were the leading contributors to absolute performance.

**Fixed income allocation** \| The fund's fixed income allocation to intermediate term bonds contributed to absolute return.

#### TOP PERFORMANCE DETRACTORS
**No meaningful sector detractors** \| At a time where major U.S. stock markets were experiencing positive performance, there were no sectors that detracted from absolute performance.

**Futures contracts** \| The fund's use of futures contracts to manage the volatility of returns and limit the magnitude of losses for the portfolio was a detractor to performance.

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

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

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6299397.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Managed Volatility Balanced Portfolio (Series II/JAJRX) | 9.51% | 4.41% | 5.31% |
| S&P 500 Index | 17.88% | 14.42% | 14.82% |
| Morningstar U.S. Moderate Target Allocation Index | 14.60% | 7.54% | 8.88% |
| 50% Bloomberg U.S. Aggregate Bond Index/ 15% MSCI EAFE Index/ 35% Russell 3000 Index | 14.25% | 5.80% | 7.39% |

---

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

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$3876877947 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$3437789 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;16% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.3%** |
| **Equity** | **49.6%** |
| Large blend | 21.7% |
| U.S. large cap | 14.8% |
| Emerging-market equity | 4.1% |
| U.S. mid cap | 3.8% |
| U.S. small cap | 2.8% |
| International equity | 2.4% |
| **Fixed income** | **48.7%** |
| Intermediate bond | 48.7% |
| **Short-term investments and other** | **1.7%** |

---

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

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

Availability of Additional Information

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

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVBP-A-II

12/25

2/26

Managed Volatility Balanced Portfolio

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio
Series NAV/JAIYX

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

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Balanced Portfolio<br>(Series NAV/JAIYX) | $13 | 0.12% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Managed Volatility Balanced Portfolio (Series NAV/JAIYX) returned 9.87% for the year ended December 31, 2025. Global equity markets delivered strong performance in 2025, supported by easing inflation and improving earnings trends. Emerging markets led global performance, while developed market equities also posted solid gains. U.S. equities advanced but underperformed international markets as a weaker U.S. dollar and more attractive non U.S. valuations drove relative outperformance abroad. Market leadership remained concentrated in technology related and artificial intelligence-related sectors, though performance broadened somewhat later in the year as value tilted and international markets gained traction. Fixed income markets also performed well, supported by aggressive monetary easing and interest rate cuts, with global bonds and credit oriented sectors benefiting from the improved rate environment.

#### TOP PERFORMANCE CONTRIBUTORS
**The fund's equity allocation made the largest contribution** \| U.S. large-cap stocks were the leading contributors to absolute performance.

**Fixed income allocation** \| The fund's fixed income allocation to intermediate term bonds contributed to absolute return.

#### TOP PERFORMANCE DETRACTORS
**No meaningful sector detractors** \| At a time where major U.S. stock markets were experiencing positive performance, there were no sectors that detracted from absolute performance.

**Futures contracts** \| The fund's use of futures contracts to manage the volatility of returns and limit the magnitude of losses for the portfolio was a detractor to performance.

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

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

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6299375.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Managed Volatility Balanced Portfolio (Series NAV/JAIYX) | 9.87% | 4.69% | 5.58% |
| S&P 500 Index | 17.88% | 14.42% | 14.82% |
| Morningstar U.S. Moderate Target Allocation Index | 14.60% | 7.54% | 8.88% |
| 50% Bloomberg U.S. Aggregate Bond Index/ 15% MSCI EAFE Index/ 35% Russell 3000 Index | 14.25% | 5.80% | 7.39% |

---

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

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$3876877947 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$3437789 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;16% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.3%** |
| **Equity** | **49.6%** |
| Large blend | 21.7% |
| U.S. large cap | 14.8% |
| Emerging-market equity | 4.1% |
| U.S. mid cap | 3.8% |
| U.S. small cap | 2.8% |
| International equity | 2.4% |
| **Fixed income** | **48.7%** |
| Intermediate bond | 48.7% |
| **Short-term investments and other** | **1.7%** |

---

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

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

Availability of Additional Information

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

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVBP-A-NAV

12/25

2/26 Managed Volatility Balanced Portfolio

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Conservative Portfolio
Series I/JELCX

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

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Conservative Portfolio<br>(Series I/JELCX) | $20 | 0.19% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Managed Volatility Conservative Portfolio (Series I/JELCX) returned 8.84% for the year ended December 31, 2025. Global equity markets delivered strong performance in 2025, supported by easing inflation and improving earnings trends. Emerging markets led global performance, while developed market equities also posted solid gains. U.S. equities advanced but underperformed international markets as a weaker U.S. dollar and more attractive non U.S. valuations drove relative outperformance abroad. Market leadership remained concentrated in technology related and artificial intelligence-related sectors, though performance broadened somewhat later in the year as value tilted and international markets gained traction. Fixed income markets also performed well, supported by aggressive monetary easing and interest rate cuts, with global bonds and credit oriented sectors benefiting from the improved rate environment.

#### TOP PERFORMANCE CONTRIBUTORS
**The fund's fixed income allocation made the largest contribution** \| Intermediate term bonds were the leading contributors to absolute performance.

**Equity allocation** \| The fund's equity allocation to U.S. large-cap stocks also contributed to absolute return.

#### TOP PERFORMANCE DETRACTORS
**No meaningful sector detractors** \| At a time where major U.S. stock markets were experiencing positive performance, there were no sectors that detracted from absolute performance.

**Futures contracts** \| The fund's use of futures contracts to manage the volatility of returns and limit the magnitude of losses for the portfolio was a detractor to performance.

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

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

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6299305.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Managed Volatility Conservative Portfolio (Series I/JELCX) | 8.84% | 0.95% | 3.09% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| Morningstar U.S. Conservative Target Allocation Index | 9.61% | 2.99% | 4.67% |
| 80% Bloomberg U.S. Aggregate Bond Index/ 6% MSCI EAFE Index/ 14% Russell 3000 Index | 10.06% | 2.10% | 4.19% |

---

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

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$467050320 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;22 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$423778 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;11% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.9%** |
| **Equity** | **19.9%** |
| Large blend | 9.1% |
| U.S. large cap | 7.1% |
| U.S. mid cap | 1.4% |
| Emerging-market equity | 1.3% |
| U.S. small cap | 1.0% |
| **Fixed income** | **79.0%** |
| Intermediate bond | 79.0% |
| **Short-term investments and other** | **1.1%** |

---

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

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

Availability of Additional Information

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

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVCP-A-I

12/25

2/26 Managed Volatility Conservative Portfolio

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Conservative Portfolio
Series II/JAISX

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

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Conservative Portfolio<br>(Series II/JAISX) | $41 | 0.39% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Managed Volatility Conservative Portfolio (Series II/JAISX) returned 8.63% for the year ended December 31, 2025. Global equity markets delivered strong performance in 2025, supported by easing inflation and improving earnings trends. Emerging markets led global performance, while developed market equities also posted solid gains. U.S. equities advanced but underperformed international markets as a weaker U.S. dollar and more attractive non U.S. valuations drove relative outperformance abroad. Market leadership remained concentrated in technology related and artificial intelligence-related sectors, though performance broadened somewhat later in the year as value tilted and international markets gained traction. Fixed income markets also performed well, supported by aggressive monetary easing and interest rate cuts, with global bonds and credit oriented sectors benefiting from the improved rate environment.

#### TOP PERFORMANCE CONTRIBUTORS
**The fund's fixed income allocation made the largest contribution** \| Intermediate term bonds were the leading contributors to absolute performance.

**Equity allocation** \| The fund's equity allocation to U.S. large-cap stocks also contributed to absolute return.

#### TOP PERFORMANCE DETRACTORS
**No meaningful sector detractors** \| At a time where major U.S. stock markets were experiencing positive performance, there were no sectors that detracted from absolute performance.

**Futures contracts** \| The fund's use of futures contracts to manage the volatility of returns and limit the magnitude of losses for the portfolio was a detractor to performance.

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

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

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6299289.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Managed Volatility Conservative Portfolio (Series II/JAISX) | 8.63% | 0.76% | 2.89% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| Morningstar U.S. Conservative Target Allocation Index | 9.61% | 2.99% | 4.67% |
| 80% Bloomberg U.S. Aggregate Bond Index/ 6% MSCI EAFE Index/ 14% Russell 3000 Index | 10.06% | 2.10% | 4.19% |

---

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

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$467050320 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;22 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$423778 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;11% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.9%** |
| **Equity** | **19.9%** |
| Large blend | 9.1% |
| U.S. large cap | 7.1% |
| U.S. mid cap | 1.4% |
| Emerging-market equity | 1.3% |
| U.S. small cap | 1.0% |
| **Fixed income** | **79.0%** |
| Intermediate bond | 79.0% |
| **Short-term investments and other** | **1.1%** |

---

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

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

Availability of Additional Information

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

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVCP-A-II

12/25

2/26

Managed Volatility Conservative Portfolio

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Conservative Portfolio
Series NAV/JAIUX

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

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Conservative Portfolio<br>(Series NAV/JAIUX) | $15 | 0.14% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Managed Volatility Conservative Portfolio (Series NAV/JAIUX) returned 8.91% for the year ended December 31, 2025. Global equity markets delivered strong performance in 2025, supported by easing inflation and improving earnings trends. Emerging markets led global performance, while developed market equities also posted solid gains. U.S. equities advanced but underperformed international markets as a weaker U.S. dollar and more attractive non U.S. valuations drove relative outperformance abroad. Market leadership remained concentrated in technology related and artificial intelligence-related sectors, though performance broadened somewhat later in the year as value tilted and international markets gained traction. Fixed income markets also performed well, supported by aggressive monetary easing and interest rate cuts, with global bonds and credit oriented sectors benefiting from the improved rate environment.

#### TOP PERFORMANCE CONTRIBUTORS
**The fund's fixed income allocation made the largest contribution** \| Intermediate term bonds were the leading contributors to absolute performance.

**Equity allocation** \| The fund's equity allocation to U.S. large-cap stocks also contributed to absolute return.

#### TOP PERFORMANCE DETRACTORS
**No meaningful sector detractors** \| At a time where major U.S. stock markets were experiencing positive performance, there were no sectors that detracted from absolute performance.

**Futures contracts** \| The fund's use of futures contracts to manage the volatility of returns and limit the magnitude of losses for the portfolio was a detractor to performance.

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

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

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6299267.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Managed Volatility Conservative Portfolio (Series NAV/JAIUX) | 8.91% | 1.00% | 3.14% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| Morningstar U.S. Conservative Target Allocation Index | 9.61% | 2.99% | 4.67% |
| 80% Bloomberg U.S. Aggregate Bond Index/ 6% MSCI EAFE Index/ 14% Russell 3000 Index | 10.06% | 2.10% | 4.19% |

---

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

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$467050320 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;22 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$423778 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;11% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.9%** |
| **Equity** | **19.9%** |
| Large blend | 9.1% |
| U.S. large cap | 7.1% |
| U.S. mid cap | 1.4% |
| Emerging-market equity | 1.3% |
| U.S. small cap | 1.0% |
| **Fixed income** | **79.0%** |
| Intermediate bond | 79.0% |
| **Short-term investments and other** | **1.1%** |

---

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

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

Availability of Additional Information

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

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVCP-A-NAV

12/25

2/26

Managed Volatility Conservative Portfolio

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio
Series I/JELGX

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

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Growth Portfolio<br>(Series I/JELGX) | $19 | 0.18% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Managed Volatility Growth Portfolio (Series I/JELGX) returned 10.82% for the year ended December 31, 2025. Global equity markets delivered strong performance in 2025, supported by easing inflation and improving earnings trends. Emerging markets led global performance, while developed market equities also posted solid gains. U.S. equities advanced but underperformed international markets as a weaker U.S. dollar and more attractive non U.S. valuations drove relative outperformance abroad. Market leadership remained concentrated in technology related and artificial intelligence-related sectors, though performance broadened somewhat later in the year as value tilted and international markets gained traction. Fixed income markets also performed well, supported by aggressive monetary easing and interest rate cuts, with global bonds and credit oriented sectors benefiting from the improved rate environment.

#### TOP PERFORMANCE CONTRIBUTORS
**The fund's equity allocation made the largest contribution** \| U.S. large-cap stocks were the leading contributors to absolute performance. International large cap equity and emerging markets equity stocks also contributed to performance.

**Fixed income allocation** \| The fund's fixed income allocation to intermediate term bonds contributed to absolute return.

#### TOP PERFORMANCE DETRACTORS
**No meaningful sector detractors** \| At a time where major U.S. stock markets were experiencing positive performance, there were no sectors that detracted from absolute performance.

**Futures contracts** \| The fund's use of futures contracts to manage the volatility of returns and limit the magnitude of losses for the portfolio was a detractor to performance.

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

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

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6299197.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Managed Volatility Growth Portfolio (Series I/JELGX) | 10.82% | 6.26% | 6.22% |
| S&P 500 Index | 17.88% | 14.42% | 14.82% |
| Morningstar U.S. Moderately Aggressive Target Allocation Index | 17.72% | 9.40% | 10.51% |
| 30% Bloomberg U.S. Aggregate Bond Index/ 21% MSCI EAFE Index/ 49% Russell 3000 Index | 17.07% | 8.27% | 9.47% |

---

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

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5240883343 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$4890004 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;20% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **97.3%** |
| **Equity** | **69.3%** |
| Large blend | 30.3% |
| U.S. large cap | 18.0% |
| Emerging-market equity | 6.3% |
| U.S. mid cap | 5.9% |
| International equity | 4.8% |
| U.S. small cap | 4.0% |
| **Fixed income** | **28.0%** |
| Intermediate bond | 28.0% |
| **Short-term investments and other** | **2.7%** |

---

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

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

Availability of Additional Information

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

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVGP-A-I

12/25

2/26 Managed Volatility Growth Portfolio

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio
Series II/JAJAX

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

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Growth Portfolio<br>(Series II/JAJAX) | $40 | 0.38% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Managed Volatility Growth Portfolio (Series II/JAJAX) returned 10.57% for the year ended December 31, 2025. Global equity markets delivered strong performance in 2025, supported by easing inflation and improving earnings trends. Emerging markets led global performance, while developed market equities also posted solid gains. U.S. equities advanced but underperformed international markets as a weaker U.S. dollar and more attractive non U.S. valuations drove relative outperformance abroad. Market leadership remained concentrated in technology related and artificial intelligence-related sectors, though performance broadened somewhat later in the year as value tilted and international markets gained traction. Fixed income markets also performed well, supported by aggressive monetary easing and interest rate cuts, with global bonds and credit oriented sectors benefiting from the improved rate environment.

#### TOP PERFORMANCE CONTRIBUTORS
**The fund's equity allocation made the largest contribution** \| U.S. large-cap stocks were the leading contributors to absolute performance. International large cap equity and emerging markets equity stocks also contributed to performance.

**Fixed income allocation** \| The fund's fixed income allocation to intermediate term bonds contributed to absolute return.

#### TOP PERFORMANCE DETRACTORS
**No meaningful sector detractors** \| At a time where major U.S. stock markets were experiencing positive performance, there were no sectors that detracted from absolute performance.

**Futures contracts** \| The fund's use of futures contracts to manage the volatility of returns and limit the magnitude of losses for the portfolio was a detractor to performance.

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

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

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6299181.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Managed Volatility Growth Portfolio (Series II/JAJAX) | 10.57% | 6.05% | 6.02% |
| S&P 500 Index | 17.88% | 14.42% | 14.82% |
| Morningstar U.S. Moderately Aggressive Target Allocation Index | 17.72% | 9.40% | 10.51% |
| 30% Bloomberg U.S. Aggregate Bond Index/ 21% MSCI EAFE Index/ 49% Russell 3000 Index | 17.07% | 8.27% | 9.47% |

---

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

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5240883343 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$4890004 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;20% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **97.3%** |
| **Equity** | **69.3%** |
| Large blend | 30.3% |
| U.S. large cap | 18.0% |
| Emerging-market equity | 6.3% |
| U.S. mid cap | 5.9% |
| International equity | 4.8% |
| U.S. small cap | 4.0% |
| **Fixed income** | **28.0%** |
| Intermediate bond | 28.0% |
| **Short-term investments and other** | **2.7%** |

---

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

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

Availability of Additional Information

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

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVGP-A-II

12/25

2/26 Managed Volatility Growth Portfolio

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio
Series NAV/JAIZX

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

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Growth Portfolio<br>(Series NAV/JAIZX) | $14 | 0.13% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Managed Volatility Growth Portfolio (Series NAV/JAIZX) returned 10.89% for the year ended December 31, 2025. Global equity markets delivered strong performance in 2025, supported by easing inflation and improving earnings trends. Emerging markets led global performance, while developed market equities also posted solid gains. U.S. equities advanced but underperformed international markets as a weaker U.S. dollar and more attractive non U.S. valuations drove relative outperformance abroad. Market leadership remained concentrated in technology related and artificial intelligence-related sectors, though performance broadened somewhat later in the year as value tilted and international markets gained traction. Fixed income markets also performed well, supported by aggressive monetary easing and interest rate cuts, with global bonds and credit oriented sectors benefiting from the improved rate environment.

#### TOP PERFORMANCE CONTRIBUTORS
**The fund's equity allocation made the largest contribution** \| U.S. large-cap stocks were the leading contributors to absolute performance. International large cap equity and emerging markets equity stocks also contributed to performance.

**Fixed income allocation** \| The fund's fixed income allocation to intermediate term bonds contributed to absolute return.

#### TOP PERFORMANCE DETRACTORS
**No meaningful sector detractors** \| At a time where major U.S. stock markets were experiencing positive performance, there were no sectors that detracted from absolute performance.

**Futures contracts** \| The fund's use of futures contracts to manage the volatility of returns and limit the magnitude of losses for the portfolio was a detractor to performance.

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

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

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6299159.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Managed Volatility Growth Portfolio (Series NAV/JAIZX) | 10.89% | 6.32% | 6.28% |
| S&P 500 Index | 17.88% | 14.42% | 14.82% |
| Morningstar U.S. Moderately Aggressive Target Allocation Index | 17.72% | 9.40% | 10.51% |
| 30% Bloomberg U.S. Aggregate Bond Index/ 21% MSCI EAFE Index/ 49% Russell 3000 Index | 17.07% | 8.27% | 9.47% |

---

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

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5240883343 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$4890004 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;20% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **97.3%** |
| **Equity** | **69.3%** |
| Large blend | 30.3% |
| U.S. large cap | 18.0% |
| Emerging-market equity | 6.3% |
| U.S. mid cap | 5.9% |
| International equity | 4.8% |
| U.S. small cap | 4.0% |
| **Fixed income** | **28.0%** |
| Intermediate bond | 28.0% |
| **Short-term investments and other** | **2.7%** |

---

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

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

Availability of Additional Information

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

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVGP-A-NAV

12/25

2/26

Managed Volatility Growth Portfolio

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Moderate Portfolio
Series I/JELMX

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

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Moderate Portfolio<br>(Series I/JELMX) | $18 | 0.17% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Managed Volatility Moderate Portfolio (Series I/JELMX) returned 9.25% for the year ended December 31, 2025. Global equity markets delivered strong performance in 2025, supported by easing inflation and improving earnings trends. Emerging markets led global performance, while developed market equities also posted solid gains. U.S. equities advanced but underperformed international markets as a weaker U.S. dollar and more attractive non U.S. valuations drove relative outperformance abroad. Market leadership remained concentrated in technology related and artificial intelligence-related sectors, though performance broadened somewhat later in the year as value tilted and international markets gained traction. Fixed income markets also performed well, supported by aggressive monetary easing and interest rate cuts, with global bonds and credit oriented sectors benefiting from the improved rate environment.

#### TOP PERFORMANCE CONTRIBUTORS
**The fund's equity allocation made the largest contribution** \| U.S. large-cap stocks were the leading contributors to absolute performance.

**Fixed income allocation** \| The fund's fixed income allocation to intermediate term bonds also contributed to absolute return.

#### TOP PERFORMANCE DETRACTORS
**No meaningful sector detractors** \| At a time where major U.S. stock markets were experiencing positive performance, there were no sectors that detracted from absolute performance.

**Futures contracts** \| The fund's use of futures contracts to manage the volatility of returns and limit the magnitude of losses for the portfolio was a detractor to performance.

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

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

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6299089.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Managed Volatility Moderate Portfolio (Series I/JELMX) | 9.25% | 3.73% | 5.06% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| Morningstar U.S. Moderately Conservative Target Allocation Index | 12.35% | 5.00% | 6.53% |
| 60% Bloomberg U.S. Aggregate Bond Index/ 12% MSCI EAFE Index/ 28% Russell 3000 Index | 12.84% | 4.56% | 6.33% |

---

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

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$986149072 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$840831 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;16% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.7%** |
| **Equity** | **39.9%** |
| Large blend | 18.0% |
| U.S. large cap | 13.3% |
| Emerging-market equity | 2.9% |
| U.S. mid cap | 2.8% |
| U.S. small cap | 1.9% |
| International equity | 1.0% |
| **Fixed income** | **58.8%** |
| Intermediate bond | 58.8% |
| **Short-term investments and other** | **1.3%** |

---

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

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

Availability of Additional Information

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

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVMP-A-I

12/25

2/26

Managed Volatility Moderate Portfolio

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Moderate Portfolio
Series II/JAIWX

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

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Moderate Portfolio<br>(Series II/JAIWX) | $39 | 0.37% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Managed Volatility Moderate Portfolio (Series II/JAIWX) returned 9.06% for the year ended December 31, 2025. Global equity markets delivered strong performance in 2025, supported by easing inflation and improving earnings trends. Emerging markets led global performance, while developed market equities also posted solid gains. U.S. equities advanced but underperformed international markets as a weaker U.S. dollar and more attractive non U.S. valuations drove relative outperformance abroad. Market leadership remained concentrated in technology related and artificial intelligence-related sectors, though performance broadened somewhat later in the year as value tilted and international markets gained traction. Fixed income markets also performed well, supported by aggressive monetary easing and interest rate cuts, with global bonds and credit oriented sectors benefiting from the improved rate environment.

#### TOP PERFORMANCE CONTRIBUTORS
**The fund's equity allocation made the largest contribution** \| U.S. large-cap stocks were the leading contributors to absolute performance.

**Fixed income allocation** \| The fund's fixed income allocation to intermediate term bonds also contributed to absolute return.

#### TOP PERFORMANCE DETRACTORS
**No meaningful sector detractors** \| At a time where major U.S. stock markets were experiencing positive performance, there were no sectors that detracted from absolute performance.

**Futures contracts** \| The fund's use of futures contracts to manage the volatility of returns and limit the magnitude of losses for the portfolio was a detractor to performance.

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

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

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6299073.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Managed Volatility Moderate Portfolio (Series II/JAIWX) | 9.06% | 3.53% | 4.85% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| Morningstar U.S. Moderately Conservative Target Allocation Index | 12.35% | 5.00% | 6.53% |
| 60% Bloomberg U.S. Aggregate Bond Index/ 12% MSCI EAFE Index/ 28% Russell 3000 Index | 12.84% | 4.56% | 6.33% |

---

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

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$986149072 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$840831 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;16% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.7%** |
| **Equity** | **39.9%** |
| Large blend | 18.0% |
| U.S. large cap | 13.3% |
| Emerging-market equity | 2.9% |
| U.S. mid cap | 2.8% |
| U.S. small cap | 1.9% |
| International equity | 1.0% |
| **Fixed income** | **58.8%** |
| Intermediate bond | 58.8% |
| **Short-term investments and other** | **1.3%** |

---

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

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

Availability of Additional Information

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

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVMP-A-II

12/25

2/26

Managed Volatility Moderate Portfolio

![jh-signature](images_5418.jpg)

## John Hancock Variable Insurance Trust Managed Volatility Moderate Portfolio
Series NAV/JAIVX

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

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

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

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Managed Volatility Moderate Portfolio<br>(Series NAV/JAIVX) | $13 | 0.12% |

---

#### Management's Discussion of Fund Performance

#### SUMMARY OF RESULTS
Managed Volatility Moderate Portfolio (Series NAV/JAIVX) returned 9.34% for the year ended December 31, 2025. Global equity markets delivered strong performance in 2025, supported by easing inflation and improving earnings trends. Emerging markets led global performance, while developed market equities also posted solid gains. U.S. equities advanced but underperformed international markets as a weaker U.S. dollar and more attractive non U.S. valuations drove relative outperformance abroad. Market leadership remained concentrated in technology related and artificial intelligence-related sectors, though performance broadened somewhat later in the year as value tilted and international markets gained traction. Fixed income markets also performed well, supported by aggressive monetary easing and interest rate cuts, with global bonds and credit oriented sectors benefiting from the improved rate environment.

#### TOP PERFORMANCE CONTRIBUTORS
**The fund's equity allocation made the largest contribution** \| U.S. large-cap stocks were the leading contributors to absolute performance.

**Fixed income allocation** \| The fund's fixed income allocation to intermediate term bonds also contributed to absolute return.

#### TOP PERFORMANCE DETRACTORS
**No meaningful sector detractors** \| At a time where major U.S. stock markets were experiencing positive performance, there were no sectors that detracted from absolute performance.

**Futures contracts** \| The fund's use of futures contracts to manage the volatility of returns and limit the magnitude of losses for the portfolio was a detractor to performance.

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

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

#### GROWTH OF $10,000
![Fund Performance - Growth of 10K](chartimages_6299051.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURN** | **1 Year** | **5 Years** | **10 Years** |
| Managed Volatility Moderate Portfolio (Series NAV/JAIVX) | 9.34% | 3.78% | 5.11% |
| Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.36)% | 2.01% |
| Morningstar U.S. Moderately Conservative Target Allocation Index | 12.35% | 5.00% | 6.53% |
| 60% Bloomberg U.S. Aggregate Bond Index/ 12% MSCI EAFE Index/ 28% Russell 3000 Index | 12.84% | 4.56% | 6.33% |

---

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

Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$986149072 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fees paid (net)** | &nbsp;&nbsp;&nbsp;&nbsp;$840831 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;16% |

---

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

**Asset Allocation**

---

| | |
|:---|:---|
| **Affiliated investment companies** | **98.7%** |
| **Equity** | **39.9%** |
| Large blend | 18.0% |
| U.S. large cap | 13.3% |
| Emerging-market equity | 2.9% |
| U.S. mid cap | 2.8% |
| U.S. small cap | 1.9% |
| International equity | 1.0% |
| **Fixed income** | **58.8%** |
| Intermediate bond | 58.8% |
| **Short-term investments and other** | **1.3%** |

---

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

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

Availability of Additional Information

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

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

* Prospectus

* Financial information

* Fund holdings

* Proxy voting information

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

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

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

MVMP-A-NAV

12/25

2/26

Managed Volatility Moderate Portfolio

------

ITEM 2. CODE OF ETHICS.

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

------

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Frances G. Rathke and William K. Bacic are audit committee financial experts and are "independent", pursuant to general instructions on Form N-CSR Item 3.

------

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a) Audit Fees

The aggregate fees billed for professional services rendered by the principal accountant for the audits of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to $96,614 and $93,032 for the fiscal years ended December 31, 2025 and December 31, 2024, respectively. These fees were billed to the registrant and were approved by the registrant's audit committee.

(b) Audit-Related Services

Audit-related fees for assurance and related services by the principal accountant are billed to the registrant or to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser ("control affiliates") that provides ongoing services to the registrant. The nature of the services provided was a software licensing fee and security counts pursuant to Rule 17f-2 under the Investment Company Act of 1940. Amounts billed to the registrant were $27,919 and $27,872 for fiscal years ended December 31, 2025 and December 31, 2024, respectively.

(c) Tax Fees

The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning ("tax fees") amounted to $12,360 and $24,360 for the fiscal years ended December 31, 2025 and December 31, 2024, respectively. The nature of the services comprising the tax fees was the review of the registrant's tax returns and tax distribution requirements. These fees were billed to the registrant and were approved by the registrant's audit committee.

(d) All Other Fees

Other fees amounted to $0 and $0 for the fiscal years ended December 31, 2025 and December 31, 2024, respectively.

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

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

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

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

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

Audit-Related Fees, Tax Fees and All Other Fees

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

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

(g) The aggregate non-audit fees billed by the registrant's principal accountant for non-audit services rendered to the registrant and rendered to the registrant's control affiliates were $1,327,152 for the fiscal year ended December 31, 2025 and $891,864 for the fiscal year ended December 31, 2024.

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

(i) Not applicable.

(j) Not applicable.

------

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

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

Frances G. Rathke – Chairperson

William H. Cunningham - retired effective December 31, 2025

William K. Bacic

Thomas R. Wright - effective January 1, 2026

------

ITEM 6. SCHEDULE OF INVESTMENTS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Refer to information included in Item 7.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

------

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

The Registrant prepared financial statements and financial highlights for the year ended December 31, 2025 for the following funds:

John Hancock Variable Insurance Trust - Managed Volatility Portfolios

* John Hancock Managed Volatility Balanced Portfolio

* John Hancock Managed Volatility Conservative Portfolio

* John Hancock Managed Volatility Growth Portfolio

* John Hancock Managed Volatility Moderate Portfolio

------

![](img3b0c98111.gif)

![](img477601822.gif)

## JOHN HANCOCK

## Variable Insurance Trust

#### Managed Volatility Growth Portfolio

#### Managed Volatility Balanced Portfolio

#### Managed Volatility Moderate Portfolio

#### Managed Volatility Conservative Portfolio
Annual Financial Statements & Other N-CSR Items

December 31, 2025

------

## John Hancock Variable Insurance Trust

#### Annual Financial Statements & Other N-CSR Items — Table of contents

------

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_86e261c4-a307-43a5-8173-dfcb6dfb0046_1)[(See below for each portfolio's page #)](#xx_86e261c4-a307-43a5-8173-dfcb6dfb0046_1)<br>**  | **3** |
| **[Statements of assets and liabilities](#xx_72512d5c-1356-4e42-9c9e-bc5745013071_1)<br>**  | **7** |
| **[Statements of operations](#xx_61de97c8-560a-41ca-923a-92ab7373f6d9_1)<br>**  | **8** |
| **[Statements of changes in net assets](#xx_49c04664-154d-407b-b244-b76f33d8570a_1)<br>**  | **9** |
| **[Financial highlights](#xx_d5d3d86d-fc6b-4044-8bac-e5cff5e8084b_1)<br>**  | **10** |
| **[Notes to financial statements](#xx_19083bc7-d638-4818-bad4-b0744cda9390_1)<br>**  | **12** |
| **[Report of independent registered public accounting firm](#xx_97e994d6-141d-458b-92bb-33805e72b486_1)<br>**  | **24** |
| **[Shareholder meeting](#xx_0d693776-daf3-4f4d-911a-15f347bd6f50_1)<br>**  | **25** |

---

---

| | | |
|:---|:---|:---|
| **Portfolio** | **Portfolio of investments** | **Portfolio of investments** |
| [Managed Volatility Growth Portfolio](#xx_86e261c4-a307-43a5-8173-dfcb6dfb0046_1) | [Managed Volatility Growth Portfolio](#xx_86e261c4-a307-43a5-8173-dfcb6dfb0046_1) | 3 |
| [Managed Volatility Balanced Portfolio](#xx_86e261c4-a307-43a5-8173-dfcb6dfb0046_1) | [Managed Volatility Balanced Portfolio](#xx_86e261c4-a307-43a5-8173-dfcb6dfb0046_1) | 3 |

---

---

| | | |
|:---|:---|:---|
| **Portfolio** | **Portfolio of investments** | **Portfolio of investments** |
| [Managed Volatility Moderate Portfolio](#xx_86e261c4-a307-43a5-8173-dfcb6dfb0046_2) | [Managed Volatility Moderate Portfolio](#xx_86e261c4-a307-43a5-8173-dfcb6dfb0046_2) | 4 |
| [Managed Volatility Conservative Portfolio](#xx_86e261c4-a307-43a5-8173-dfcb6dfb0046_3) | [Managed Volatility Conservative Portfolio](#xx_86e261c4-a307-43a5-8173-dfcb6dfb0046_3) | 5 |

---

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Managed Volatility Growth Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 97.3%** | **AFFILIATED INVESTMENT COMPANIES (A) - 97.3%** |  |
| **Equity - 69.3%** | **Equity - 69.3%** |  |
| Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6039601 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209211778 |
| Disciplined Value, Class NAV, JHF III (Boston Partners) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11788022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292460831 |
| Emerging Markets Equity, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20185240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225065423 |
| Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6180128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439777882 |
| Mid Cap Growth, Series NAV, JHVIT (Wellington) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6991586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84248614 |
| Mid Value, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11731108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108160817 |
| Multifactor Developed International ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6062373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251770351 |
| Multifactor Emerging Markets ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3152024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103701590 |
| Multifactor Mid Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1762845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115431091 |
| Multifactor Small Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2539230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106622268 |
| Small Cap Dynamic Growth, Class NAV, JHF II (Axiom) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6890240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106729819 |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84635837 | &nbsp;&nbsp;&nbsp;&nbsp;1586921935 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3630102399 |
| **Fixed income - 28.0%** | **Fixed income - 28.0%** |  |
| Bond, Class NAV, JHSB (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27399540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375647698 |
| Core Bond, Series NAV, JHVIT (Allspring Investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11597572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130820609 |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81037082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963530907 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1469999214 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $4,776,282,644) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $4,776,282,644) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100101613 |

---

#### Managed Volatility Growth Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS - 1.4%** | **SHORT-TERM INVESTMENTS - 1.4%** |  |
| **Short-term funds - 1.4%** |  |  |
| John Hancock Collateral Trust, 3.7477% (D)(E) | 7098483 | $&nbsp;&nbsp;&nbsp;&nbsp;71014641 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $71,011,700) | TOTAL SHORT-TERM INVESTMENTS (Cost $71,011,700) | $&nbsp;&nbsp;&nbsp;&nbsp;71014641 |
| **Total Investments (Managed Volatility Growth Portfolio) (Cost $4,847,294,344) - 98.7%** |  | $**5171116254** |
| **Other assets and liabilities, net - 1.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**69767089** |
| **TOTAL NET ASSETS - 100.0%** |  | $**5240883343** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHETF | John Hancock Exchange-Traded Fund Trust |
| JHF II | John Hancock Funds II |
| JHF III | John Hancock Funds III |
| JHIT | John Hancock Investment Trust |
| JHSB | John Hancock Sovereign Bond Fund |
| JHVIT | John Hancock Variable Insurance Trust |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | Non-income producing. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-25. |
| (E) | Investment is an affiliate of the portfolio, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Euro Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;$38586318 | &nbsp;&nbsp;&nbsp;&nbsp;$38874000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$287682 |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;581 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39412496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39881834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469338 |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13043088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13265976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222888 |
| Japanese Yen Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20876314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20619431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(256883) |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49366046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50386933 | &nbsp;&nbsp;&nbsp;&nbsp;1020887 |
| Nikkei 225 Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20682353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20592441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89912) |
| Pound Sterling Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12905104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13037438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132334 |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17498740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16986400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(512340) |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;239382583 | &nbsp;&nbsp;&nbsp;&nbsp;239514375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131792 |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36808987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36244680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(564307) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$841479** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

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

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

#### Managed Volatility Balanced Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 98.3%** | **AFFILIATED INVESTMENT COMPANIES (A) - 98.3%** |  |
| **Equity - 49.6%** | **Equity - 49.6%** |  |
| Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3686036 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127684291 |

---

#### Managed Volatility Balanced Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Equity (continued)** | **Equity (continued)** |  |
| Disciplined Value, Class NAV, JHF III (Boston Partners) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7244577 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179737958 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>3</sub>

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Managed Volatility Balanced Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Equity (continued)** | **Equity (continued)** |  |
| Emerging Markets Equity, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9597944 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107017079 |
| Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3759541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267528943 |
| Mid Cap Growth, Series NAV, JHVIT (Wellington) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2895071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34885610 |
| Mid Value, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5364551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49461158 |
| Multifactor Developed International ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2202551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91471943 |
| Multifactor Emerging Markets ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1494556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49170892 |
| Multifactor Mid Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62165402 |
| Multifactor Small Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1312179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55098396 |
| Small Cap Dynamic Growth, Class NAV, JHF II (Axiom) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3560789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55156622 |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44933283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842499058 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921877352 |
| **Fixed income - 48.7%** | **Fixed income - 48.7%** |  |
| Bond, Class NAV, JHSB (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35299861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483961089 |
| Core Bond, Series NAV, JHVIT (Allspring Investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14913378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168222902 |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;103878416 | &nbsp;&nbsp;&nbsp;&nbsp;1235114364 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1887298355 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $3,768,232,548) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $3,768,232,548) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3809175707 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS - 0.9%** | **SHORT-TERM INVESTMENTS - 0.9%** |  |
| **Short-term funds - 0.9%** |  |  |
| John Hancock Collateral Trust, 3.7477% (D)(E) | 3574402 | $&nbsp;&nbsp;&nbsp;&nbsp;35759035 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $35,757,006) | TOTAL SHORT-TERM INVESTMENTS (Cost $35,757,006) | $&nbsp;&nbsp;&nbsp;&nbsp;35759035 |
| **Total Investments (Managed Volatility Balanced Portfolio) (Cost $3,803,989,554) - 99.2%** |  | $**3844934742** |
| **Other assets and liabilities, net - 0.8%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**31943205** |
| **TOTAL NET ASSETS - 100.0%** |  | $**3876877947** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHETF | John Hancock Exchange-Traded Fund Trust |
| JHF II | John Hancock Funds II |
| JHF III | John Hancock Funds III |
| JHIT | John Hancock Investment Trust |
| JHSB | John Hancock Sovereign Bond Fund |
| JHVIT | John Hancock Variable Insurance Trust |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | Non-income producing. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-25. |
| (E) | Investment is an affiliate of the portfolio, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Euro Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;$18562357 | &nbsp;&nbsp;&nbsp;&nbsp;$18700750 | &nbsp;&nbsp;&nbsp;&nbsp;$138393 |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19129645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19357448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227803 |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5796928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5895989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99061 |
| Japanese Yen Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;101 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8204310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8103356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100954) |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21018597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21453205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434608 |
| Nikkei 225 Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8079044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8043922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35122) |
| Pound Sterling Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5744853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5803763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58910 |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7462698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7244200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(218498) |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;123996734 | &nbsp;&nbsp;&nbsp;&nbsp;124065000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68266 |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21950313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21613800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(336513) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$335954** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

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

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

#### Managed Volatility Moderate Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 98.7%** | **AFFILIATED INVESTMENT COMPANIES (A) - 98.7%** |  |
| **Equity - 39.9%** | **Equity - 39.9%** |  |
| Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823140 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28513561 |
| Disciplined Value, Class NAV, JHF III (Boston Partners) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1702736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42244879 |
| Emerging Markets Equity, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1779989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19846878 |

---

#### Managed Volatility Moderate Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Equity (continued)** | **Equity (continued)** |  |
| Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851493 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60592261 |
| Mid Cap Growth, Series NAV, JHVIT (Wellington) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8870657 |
| Mid Value, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11547596 |
| Multifactor Developed International ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9931443 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>4</sub>

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Managed Volatility Moderate Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Equity (continued)** | **Equity (continued)** |  |
| Multifactor Emerging Markets ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278086 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9149029 |
| Multifactor Mid Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7287989 |
| Multifactor Small Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9311534 |
| Small Cap Dynamic Growth, Class NAV, JHF II (Axiom) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9321389 |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9476725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177688585 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394305801 |
| **Fixed income - 58.8%** | **Fixed income - 58.8%** |  |
| Bond, Class NAV, JHSB (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10832005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148506783 |
| Core Bond, Series NAV, JHVIT (Allspring Investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4579331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51654854 |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31921682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379548798 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579710435 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $997,124,966) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $997,124,966) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974016236 |
| **SHORT-TERM INVESTMENTS - 0.7%** | **SHORT-TERM INVESTMENTS - 0.7%** |  |
| **Short-term funds - 0.7%** |  |  |
| John Hancock Collateral Trust, 3.7477% (D)(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6670940 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $6,670,591) | TOTAL SHORT-TERM INVESTMENTS (Cost $6,670,591) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6670940 |
| **Total Investments (Managed Volatility Moderate Portfolio) (Cost $1,003,795,557) - 99.4%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**980687176** |
| **Other assets and liabilities, net - 0.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5461896** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**986149072** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHETF | John Hancock Exchange-Traded Fund Trust |
| JHF II | John Hancock Funds II |
| JHF III | John Hancock Funds III |
| JHIT | John Hancock Investment Trust |
| JHSB | John Hancock Sovereign Bond Fund |
| JHVIT | John Hancock Variable Insurance Trust |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | Non-income producing. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-25. |
| (E) | Investment is an affiliate of the portfolio, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Euro Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;$2782573 | &nbsp;&nbsp;&nbsp;&nbsp;$2797750 | &nbsp;&nbsp;&nbsp;&nbsp;$15177 |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2779950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2814381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34431 |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14477 |
| Japanese Yen Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1203469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15715) |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3035727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69349 |
| Nikkei 225 Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4215) |
| Pound Sterling Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7917 |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32735) |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;20649821 | &nbsp;&nbsp;&nbsp;&nbsp;20677500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27679 |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3037679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2992680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44999) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$71366** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

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

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

#### Managed Volatility Conservative Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 98.9%** | **AFFILIATED INVESTMENT COMPANIES (A) - 98.9%** |  |
| **Equity - 19.9%** | **Equity - 19.9%** |  |
| Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210935 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7306780 |
| Disciplined Value, Class NAV, JHF III (Boston Partners) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11811319 |

---

#### Managed Volatility Conservative Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Equity (continued)** | **Equity (continued)** |  |
| Emerging Markets Equity, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375155 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4182980 |
| Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13872292 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>5</sub>

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2025 (showing percentage of total net assets)

------

#### Managed Volatility Conservative Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Equity (continued)** | **Equity (continued)** |  |
| Multifactor Emerging Markets ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58453 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1923104 |
| Multifactor Mid Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6417302 |
| Multifactor Small Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2539051 |
| Small Cap Dynamic Growth, Class NAV, JHF II (Axiom) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2541756 |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2255399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42288737 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92883321 |
| **Fixed income - 79.0%** | **Fixed income - 79.0%** |  |
| Bond, Class NAV, JHSB (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6916220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94821383 |
| Core Bond, Series NAV, JHVIT (Allspring Investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2914115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32871213 |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20315788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241554716 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369247312 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $490,452,383) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $490,452,383) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462130633 |
| **SHORT-TERM INVESTMENTS - 0.5%** | **SHORT-TERM INVESTMENTS - 0.5%** |  |
| **Short-term funds - 0.5%** |  |  |
| John Hancock Collateral Trust, 3.7477% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2257124 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,256,987) | TOTAL SHORT-TERM INVESTMENTS (Cost $2,256,987) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2257124 |
| **Total Investments (Managed Volatility Conservative Portfolio) (Cost $492,709,370) - 99.4%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**464387757** |
| **Other assets and liabilities, net - 0.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2662563** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**467050320** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHETF | John Hancock Exchange-Traded Fund Trust |
| JHF II | John Hancock Funds II |
| JHF III | John Hancock Funds III |
| JHIT | John Hancock Investment Trust |
| JHSB | John Hancock Sovereign Bond Fund |
| JHVIT | John Hancock Variable Insurance Trust |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-25. |
| (D) | Investment is an affiliate of the portfolio, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Euro Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$588132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$589000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$868 |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7924 |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2251 |
| Japanese Yen Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2436) |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12223 |
| Pound Sterling Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582 |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6839) |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;5857784 | &nbsp;&nbsp;&nbsp;&nbsp;5858625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841 |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665040 | &nbsp;&nbsp;&nbsp;&nbsp;(10354) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$5060** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

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

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

#### Investment companies

---

| | |
|:---|:---|
| **Subadvisors of Affiliated Underlying Funds** | **Subadvisors of Affiliated Underlying Funds** |
| Allspring Global Investments, LLC | (Allspring Investments) |
| Axiom Investors LLC | (Axiom) |
| Boston Partners Global Investors, Inc. | (Boston Partners) |
| Dimensional Fund Advisors, LP | (DFA) |
| Manulife Investment Management (US) LLC | (MIM US) |
| T. Rowe Price Associates, Inc. | (T. Rowe Price) |
| Wellington Management Company LLP | (Wellington) |

---

**The accompanying notes are an integral part of the financial statements.** <sub>6</sub>

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Volatility Conservative Portfolio** |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;$5171116254 | &nbsp;&nbsp;&nbsp;&nbsp;$3844934742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$980687176 | &nbsp;&nbsp;&nbsp;&nbsp;$464387757 |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27626883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9787133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1221586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60885 |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14954965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6943721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2054838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458881 |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30391000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14937000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3305000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2246000 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2269628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2739879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523362 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173350 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25066 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**5248130954** | &nbsp;&nbsp;&nbsp;&nbsp;**3881588402** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**987386466** | &nbsp;&nbsp;&nbsp;&nbsp;**467875301** |
| **Liabilities** |  |  |  |  |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63435 |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4579068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3582723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538010 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1686517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166176 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20053 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1555 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35752 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7247611** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4710455** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1237394** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**824981** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$5240883343** | &nbsp;&nbsp;&nbsp;&nbsp;**$3876877947** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$986149072** | &nbsp;&nbsp;&nbsp;&nbsp;**$467050320** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$4846517185 | &nbsp;&nbsp;&nbsp;&nbsp;$3824374607 | &nbsp;&nbsp;&nbsp;&nbsp;$1014755259 | &nbsp;&nbsp;&nbsp;&nbsp;$544690739 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394366158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52503340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28606187) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77640419) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$5240883343** | &nbsp;&nbsp;&nbsp;&nbsp;**$3876877947** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$986149072** | &nbsp;&nbsp;&nbsp;&nbsp;**$467050320** |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$4847294344 | &nbsp;&nbsp;&nbsp;&nbsp;$3803989554 | &nbsp;&nbsp;&nbsp;&nbsp;$1003795557 | &nbsp;&nbsp;&nbsp;&nbsp;$492709370 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16428751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7360566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2076469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$467287 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$417187235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$320466425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$113643497 | &nbsp;&nbsp;&nbsp;&nbsp;$71543166 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35559330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29363085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10813937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7052740 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.14 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3739281588 | &nbsp;&nbsp;&nbsp;&nbsp;$2453115499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$749146425 | &nbsp;&nbsp;&nbsp;&nbsp;$345251388 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320101979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226751084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71946173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34327976 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.06 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1084414520 | &nbsp;&nbsp;&nbsp;&nbsp;$1103296023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$123359150 | &nbsp;&nbsp;&nbsp;&nbsp;$50255766 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92229250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100695450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11723095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4939599 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.17 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>7</sub>

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Conservative Portfolio** |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;$113654603 | &nbsp;&nbsp;&nbsp;$107598806 | &nbsp;&nbsp;&nbsp;$30335798 | &nbsp;&nbsp;&nbsp;$17471388 |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51707 |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**115673101** | &nbsp;&nbsp;&nbsp;&nbsp;**108406736** | &nbsp;&nbsp;&nbsp;&nbsp;**30509055** | &nbsp;&nbsp;&nbsp;&nbsp;**17523095** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10073434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7009419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807616 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9693340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6461926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1987813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941486 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84667 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13176 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36770 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39389 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35323 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31272 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21459874** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14764885** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4082384** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1989699** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5183430) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3571630) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(854111) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(383838) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16276444** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11193255** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3228273** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1605861** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**99396657** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**97213481** | &nbsp;&nbsp;&nbsp;&nbsp;**27280782** | &nbsp;&nbsp;&nbsp;&nbsp;**15917234** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42975468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27377034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6876593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1417801 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46584369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20174108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4273473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7891869) |
| Capital gain distributions received from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;295525759 | &nbsp;&nbsp;&nbsp;&nbsp;163254337 | &nbsp;&nbsp;&nbsp;&nbsp;35074948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8077081 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;(171749877) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97382381) | &nbsp;&nbsp;&nbsp;&nbsp;(19715461) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2358849) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**213335719** | &nbsp;&nbsp;&nbsp;&nbsp;**113423098** | &nbsp;&nbsp;&nbsp;&nbsp;**26509553** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(755836)** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38158346) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25717835) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6364859) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1288595) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;243841274 | &nbsp;&nbsp;&nbsp;&nbsp;165777511 | &nbsp;&nbsp;&nbsp;&nbsp;38404494 | &nbsp;&nbsp;&nbsp;&nbsp;26248254 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10252774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7917102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325093 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**215935702** | &nbsp;&nbsp;&nbsp;&nbsp;**147976778** | &nbsp;&nbsp;&nbsp;&nbsp;**33514708** | &nbsp;&nbsp;&nbsp;&nbsp;**25284752** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**429271421** | &nbsp;&nbsp;&nbsp;&nbsp;**261399876** | &nbsp;&nbsp;&nbsp;&nbsp;**60024261** | &nbsp;&nbsp;&nbsp;&nbsp;**24528916** |
| **Increase in net assets from operations** | &nbsp;&nbsp;&nbsp;**$528668078** | &nbsp;&nbsp;&nbsp;**$358613357** | &nbsp;&nbsp;&nbsp;**$87305043** | &nbsp;&nbsp;&nbsp;**$40446150** |

---

**The accompanying notes are an integral part of the financial statements.** <sub>8</sub>

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Managed Volatility<br> Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility<br> Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Moderate Portfolio** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$99396657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$97574478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$97213481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$95162784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27280782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27128380 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213335719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322070500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113423098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164871252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26509553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32317494 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215935702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206693274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147976778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112958103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33514708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26075334 |
| **Increase in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**528668078** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**626338252** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**358613357** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**372992139** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**87305043** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**85521208** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32558623) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11417276) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21010954) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10001141) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5909053) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3484287) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(282980005) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98406661) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(154274467) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73477667) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36406188) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21185092) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(84638683) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27341522) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72705314) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31833721) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6390667) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3264540) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(400177311)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(137165459)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(247990735)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(115312529)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(48705908)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(27933919)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(325055597) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(642284981) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(309513153) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(447951335) | &nbsp;&nbsp;&nbsp;&nbsp;(108796542) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(159618109) |
| **Total decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(196564830)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(153112188)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(198890531)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(190271725)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(70197407)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(102030820)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;5437448173 | &nbsp;&nbsp;&nbsp;&nbsp;5590560361 | &nbsp;&nbsp;&nbsp;&nbsp;4075768478 | &nbsp;&nbsp;&nbsp;&nbsp;4266040203 | &nbsp;&nbsp;&nbsp;1056346479 | &nbsp;&nbsp;&nbsp;&nbsp;1158377299 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$5240883343** | &nbsp;&nbsp;&nbsp;**$5437448173** | &nbsp;&nbsp;&nbsp;**$3876877947** | &nbsp;&nbsp;&nbsp;**$4075768478** | &nbsp;&nbsp;&nbsp;&nbsp;**$986149072** | &nbsp;&nbsp;&nbsp;**$1056346479** |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Conservative Portfolio** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-25** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-24** |
| **Increase (decrease) in net assets** |  |  |
| **From operations** |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;$15917234 | &nbsp;&nbsp;&nbsp;&nbsp;$15973220 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(755836) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7004658) |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25284752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9258744 |
| **Increase in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**40446150** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18227306** |
| **Distributions to shareholders** |  |  |
| From earnings |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2642566) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2557223) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11587495) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12041169) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1890350) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1638424) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(16120411)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(16236816)** |
| **From portfolio share transactions** |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67320273) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88208612) |
| **Total decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(42994534)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(86218122)** |
| **Net assets** |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;510044854 | &nbsp;&nbsp;&nbsp;&nbsp;596262976 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$467050320** | &nbsp;&nbsp;&nbsp;**$510044854** |

---

**The accompanying notes are an integral part of the financial statements.** <sub>9</sub>

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** |  | **Ratios and supplemental data** | **Ratios and supplemental data** | **Ratios and supplemental data** |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1, 2</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>3</sup> | Expenses<br> before<br> reductions<br> (%)<sup>4</sup> | Expenses<br> including<br> reductions<br> (%)<sup>4</sup> | Net<br> investment<br> income<br> (loss) (%)<sup>2</sup> | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | 11.46 | 0.24 | &nbsp;&nbsp;0.99 | &nbsp;&nbsp;1.23 | (0.25) | (0.71) | (0.96) | 11.73 | &nbsp;&nbsp;10.82 | 0.27 | 0.18 | 2.03 | &nbsp;&nbsp;&nbsp;417 | 20 |
| 12-31-2024 | 10.51 | 0.21 | &nbsp;&nbsp;1.05 | &nbsp;&nbsp;1.26 | (0.23) | (0.08) | (0.31) | 11.46 | &nbsp;&nbsp;11.95 | 0.26 | 0.17 | 1.86 | &nbsp;&nbsp;&nbsp;432 | &nbsp;&nbsp;7 |
| 12-31-2023 | 10.79 | 0.21 | &nbsp;&nbsp;1.09 | &nbsp;&nbsp;1.30 | (0.20) | (1.38) | (1.58) | 10.51 | &nbsp;&nbsp;13.69 | 0.27 | 0.18 | 1.89 | &nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;8 |
| 12-31-2022 | 13.28 | 0.19 | (2.17) | (1.98) | (0.20) | (0.31) | (0.51) | 10.79 | (14.86) | 0.27 | 0.18 | 1.64 | &nbsp;&nbsp;&nbsp;450 | 14 |
| 12-31-2021 | 12.03 | 0.21 | &nbsp;&nbsp;1.33 | &nbsp;&nbsp;1.54 | (0.21) | (0.08) | (0.29) | 13.28 | &nbsp;&nbsp;12.82 | 0.25 | 0.16 | 1.64 | &nbsp;&nbsp;&nbsp;589 | 12<sup>5</sup> |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | 11.40 | 0.21 | &nbsp;&nbsp;0.99 | &nbsp;&nbsp;1.20 | (0.21) | (0.71) | (0.92) | 11.68 | &nbsp;&nbsp;10.57 | 0.47 | 0.38 | 1.82 | 3739 | 20 |
| 12-31-2024 | 10.46 | 0.19 | &nbsp;&nbsp;1.03 | &nbsp;&nbsp;1.22 | (0.20) | (0.08) | (0.28) | 11.40 | &nbsp;&nbsp;11.69 | 0.46 | 0.37 | 1.67 | 3981 | &nbsp;&nbsp;7 |
| 12-31-2023 | 10.74 | 0.18 | &nbsp;&nbsp;1.10 | &nbsp;&nbsp;1.28 | (0.18) | (1.38) | (1.56) | 10.46 | &nbsp;&nbsp;13.54 | 0.47 | 0.38 | 1.68 | 4188 | &nbsp;&nbsp;8 |
| 12-31-2022 | 13.22 | 0.17 | (2.16) | (1.99) | (0.18) | (0.31) | (0.49) | 10.74 | (15.03) | 0.47 | 0.38 | 1.43 | 4246 | 14 |
| 12-31-2021 | 11.98 | 0.18 | &nbsp;&nbsp;1.33 | &nbsp;&nbsp;1.51 | (0.19) | (0.08) | (0.27) | 13.22 | &nbsp;&nbsp;12.58 | 0.45 | 0.36 | 1.37 | 5630 | 12<sup>5</sup> |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | 11.49 | 0.25 | &nbsp;&nbsp;0.99 | &nbsp;&nbsp;1.24 | (0.26) | (0.71) | (0.97) | 11.76 | &nbsp;&nbsp;10.89 | 0.22 | 0.13 | 2.13 | 1084 | 20 |
| 12-31-2024 | 10.54 | 0.22 | &nbsp;&nbsp;1.04 | &nbsp;&nbsp;1.26 | (0.23) | (0.08) | (0.31) | 11.49 | &nbsp;&nbsp;11.97 | 0.21 | 0.12 | 1.98 | 1025 | &nbsp;&nbsp;7 |
| 12-31-2023 | 10.81 | 0.22 | &nbsp;&nbsp;1.09 | &nbsp;&nbsp;1.31 | (0.20) | (1.38) | (1.58) | 10.54 | &nbsp;&nbsp;13.81 | 0.22 | 0.13 | 1.97 | &nbsp;&nbsp;&nbsp;951 | &nbsp;&nbsp;8 |
| 12-31-2022 | 13.30 | 0.20 | (2.17) | (1.97) | (0.21) | (0.31) | (0.52) | 10.81 | (14.79) | 0.22 | 0.13 | 1.72 | &nbsp;&nbsp;&nbsp;891 | 14 |
| 12-31-2021 | 12.05 | 0.23 | &nbsp;&nbsp;1.32 | &nbsp;&nbsp;1.55 | (0.22) | (0.08) | (0.30) | 13.30 | &nbsp;&nbsp;12.85 | 0.20 | 0.11 | 1.80 | 1075 | 12<sup>5</sup> |
| **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** |
| **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | 10.62 | 0.28 | &nbsp;&nbsp;0.75 | &nbsp;&nbsp;1.03 | (0.30) | (0.44) | (0.74) | 10.91 | &nbsp;&nbsp;&nbsp;9.72 | 0.26 | 0.17 | 2.57 | &nbsp;&nbsp;&nbsp;320 | 16 |
| 12-31-2024 | 10.00 | 0.25 | &nbsp;&nbsp;0.69 | &nbsp;&nbsp;0.94 | (0.27) | (0.05) | (0.32) | 10.62 | &nbsp;&nbsp;&nbsp;9.36 | 0.25 | 0.17 | 2.36 | &nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.99 | 0.23 | &nbsp;&nbsp;0.87 | &nbsp;&nbsp;1.10 | (0.23) | (0.86) | (1.09) | 10.00 | &nbsp;&nbsp;11.99 | 0.26 | 0.18 | 2.28 | &nbsp;&nbsp;&nbsp;359 | &nbsp;&nbsp;6 |
| 12-31-2022 | 12.48 | 0.22 | (2.11) | (1.89) | (0.23) | (0.37) | (0.60) | &nbsp;&nbsp;9.99 | (15.08) | 0.25 | 0.17 | 2.01 | &nbsp;&nbsp;&nbsp;360 | 11 |
| 12-31-2021 | 11.66 | 0.23 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.14 | (0.25) | (0.07) | (0.32) | 12.48 | &nbsp;&nbsp;&nbsp;9.76 | 0.24 | 0.15 | 1.89 | &nbsp;&nbsp;&nbsp;476 | 11 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | 10.52 | 0.26 | &nbsp;&nbsp;0.74 | &nbsp;&nbsp;1.00 | (0.26) | (0.44) | (0.70) | 10.82 | &nbsp;&nbsp;&nbsp;9.51 | 0.46 | 0.37 | 2.37 | 2453 | 16 |
| 12-31-2024 | &nbsp;&nbsp;9.91 | 0.23 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;0.91 | (0.25) | (0.05) | (0.30) | 10.52 | &nbsp;&nbsp;&nbsp;9.13 | 0.45 | 0.37 | 2.16 | 2654 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.91 | 0.21 | &nbsp;&nbsp;0.86 | &nbsp;&nbsp;1.07 | (0.21) | (0.86) | (1.07) | &nbsp;&nbsp;9.91 | &nbsp;&nbsp;11.79 | 0.46 | 0.38 | 2.06 | 2852 | &nbsp;&nbsp;6 |
| 12-31-2022 | 12.38 | 0.20 | (2.09) | (1.89) | (0.21) | (0.37) | (0.58) | &nbsp;&nbsp;9.91 | (15.22) | 0.45 | 0.37 | 1.79 | 2969 | 11 |
| 12-31-2021 | 11.57 | 0.20 | &nbsp;&nbsp;0.90 | &nbsp;&nbsp;1.10 | (0.22) | (0.07) | (0.29) | 12.38 | &nbsp;&nbsp;&nbsp;9.54 | 0.44 | 0.35 | 1.66 | 3991 | 11 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | 10.66 | 0.30 | &nbsp;&nbsp;0.75 | &nbsp;&nbsp;1.05 | (0.31) | (0.44) | (0.75) | 10.96 | &nbsp;&nbsp;&nbsp;9.87 | 0.21 | 0.12 | 2.69 | 1103 | 16 |
| 12-31-2024 | 10.04 | 0.26 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;0.94 | (0.27) | (0.05) | (0.32) | 10.66 | &nbsp;&nbsp;&nbsp;9.37 | 0.20 | 0.12 | 2.46 | 1079 | &nbsp;&nbsp;6 |
| 12-31-2023 | 10.03 | 0.24 | &nbsp;&nbsp;0.86 | &nbsp;&nbsp;1.10 | (0.23) | (0.86) | (1.09) | 10.04 | &nbsp;&nbsp;12.00 | 0.21 | 0.13 | 2.35 | 1055 | &nbsp;&nbsp;6 |
| 12-31-2022 | 12.52 | 0.23 | (2.11) | (1.88) | (0.24) | (0.37) | (0.61) | 10.03 | (14.98) | 0.20 | 0.12 | 2.08 | 1019 | 11 |
| 12-31-2021 | 11.69 | 0.24 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.15 | (0.25) | (0.07) | (0.32) | 12.52 | &nbsp;&nbsp;&nbsp;9.88 | 0.19 | 0.10 | 1.97 | 1269 | 11 |
| **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |

---

**The accompanying notes are an integral part of the financial statements.** <sub>10</sub>

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1, 2</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>3</sup> | Expenses<br> before<br> reductions<br> (%)<sup>4</sup> | Expenses<br> including<br> reductions<br> (%)<sup>4</sup> | Net<br> investment<br> income<br> (loss) (%)<sup>2</sup> | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | 10.13 | 0.29 | &nbsp;&nbsp;0.65 | &nbsp;&nbsp;0.94 | (0.33) | (0.23) | (0.56) | 10.51 | &nbsp;&nbsp;&nbsp;9.25 | 0.26 | 0.17 | 2.81 | &nbsp;&nbsp;&nbsp;114 | 16 |
| 12-31-2024 | &nbsp;&nbsp;9.63 | 0.26 | &nbsp;&nbsp;0.53 | &nbsp;&nbsp;0.79 | (0.28) | (0.01) | (0.29) | 10.13 | &nbsp;&nbsp;&nbsp;8.16 | 0.25 | 0.17 | 2.58 | &nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.61 | 0.24 | &nbsp;&nbsp;0.71 | &nbsp;&nbsp;0.95 | (0.24) | (0.69) | (0.93) | &nbsp;&nbsp;9.63 | &nbsp;&nbsp;10.64 | 0.25 | 0.18 | 2.44 | &nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;6 |
| 12-31-2022 | 12.01 | 0.23 | (2.03) | (1.80) | (0.24) | (0.36) | (0.60) | &nbsp;&nbsp;9.61 | (14.87) | 0.25 | 0.17 | 2.19 | &nbsp;&nbsp;&nbsp;153 | 10 |
| 12-31-2021 | 11.44 | 0.24 | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;0.90 | (0.25) | (0.08) | (0.33) | 12.01 | &nbsp;&nbsp;&nbsp;7.90 | 0.24 | 0.15 | 2.02 | &nbsp;&nbsp;&nbsp;196 | 10 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | 10.02 | 0.27 | &nbsp;&nbsp;0.64 | &nbsp;&nbsp;0.91 | (0.29) | (0.23) | (0.52) | 10.41 | &nbsp;&nbsp;&nbsp;9.06 | 0.46 | 0.37 | 2.64 | &nbsp;&nbsp;&nbsp;749 | 16 |
| 12-31-2024 | &nbsp;&nbsp;9.54 | 0.24 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;0.75 | (0.26) | (0.01) | (0.27) | 10.02 | &nbsp;&nbsp;&nbsp;7.82 | 0.45 | 0.37 | 2.38 | &nbsp;&nbsp;&nbsp;814 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.52 | 0.22 | &nbsp;&nbsp;0.71 | &nbsp;&nbsp;0.93 | (0.22) | (0.69) | (0.91) | &nbsp;&nbsp;9.54 | &nbsp;&nbsp;10.54 | 0.45 | 0.38 | 2.24 | &nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp;6 |
| 12-31-2022 | 11.91 | 0.21 | (2.02) | (1.81) | (0.22) | (0.36) | (0.58) | &nbsp;&nbsp;9.52 | (15.10) | 0.45 | 0.37 | 1.95 | &nbsp;&nbsp;&nbsp;945 | 10 |
| 12-31-2021 | 11.34 | 0.22 | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;0.88 | (0.23) | (0.08) | (0.31) | 11.91 | &nbsp;&nbsp;&nbsp;7.76 | 0.44 | 0.35 | 1.82 | 1277 | 10 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | 10.14 | 0.31 | &nbsp;&nbsp;0.64 | &nbsp;&nbsp;0.95 | (0.34) | (0.23) | (0.57) | 10.52 | &nbsp;&nbsp;&nbsp;9.34 | 0.21 | 0.12 | 2.98 | &nbsp;&nbsp;&nbsp;123 | 16 |
| 12-31-2024 | &nbsp;&nbsp;9.65 | 0.27 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;0.78 | (0.28) | (0.01) | (0.29) | 10.14 | &nbsp;&nbsp;&nbsp;8.09 | 0.20 | 0.12 | 2.66 | &nbsp;&nbsp;&nbsp;117 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.62 | 0.25 | &nbsp;&nbsp;0.71 | &nbsp;&nbsp;0.96 | (0.24) | (0.69) | (0.93) | &nbsp;&nbsp;9.65 | &nbsp;&nbsp;10.79 | 0.20 | 0.13 | 2.52 | &nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;6 |
| 12-31-2022 | 12.03 | 0.24 | (2.04) | (1.80) | (0.25) | (0.36) | (0.61) | &nbsp;&nbsp;9.62 | (14.89) | 0.20 | 0.12 | 2.27 | &nbsp;&nbsp;&nbsp;116 | 10 |
| 12-31-2021 | 11.45 | 0.25 | &nbsp;&nbsp;0.67 | &nbsp;&nbsp;0.92 | (0.26) | (0.08) | (0.34) | 12.03 | &nbsp;&nbsp;&nbsp;8.03 | 0.19 | 0.10 | 2.12 | &nbsp;&nbsp;&nbsp;142 | 10 |
| **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |
| **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2025 | &nbsp;&nbsp;9.67 | 0.35 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;0.86 | (0.39) | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>5</sup> | (0.39) | 10.14 | &nbsp;&nbsp;&nbsp;8.84 | 0.27 | 0.19 | 3.49 | &nbsp;&nbsp;&nbsp;&nbsp;72 | 11 |
| 12-31-2024 | &nbsp;&nbsp;9.65 | 0.30 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;0.35 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>5</sup> | (0.33) | &nbsp;&nbsp;9.67 | &nbsp;&nbsp;&nbsp;3.60 | 0.26 | 0.19 | 3.01 | &nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.64 | 0.28 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;0.51 | (0.29) | (0.21) | (0.50) | &nbsp;&nbsp;9.65 | &nbsp;&nbsp;&nbsp;5.47 | 0.27 | 0.19 | 2.90 | &nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;5 |
| 12-31-2022 | 11.66 | 0.26 | (1.99) | (1.73) | (0.28) | (0.01) | (0.29) | &nbsp;&nbsp;9.64 | (14.80) | 0.25 | 0.18 | 2.53 | &nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;8 |
| 12-31-2021 | 11.62 | 0.28 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.40 | (0.29) | (0.07) | (0.36) | 11.66 | &nbsp;&nbsp;&nbsp;3.48 | 0.25 | 0.16 | 2.33 | &nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;7 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2025 | &nbsp;&nbsp;9.58 | 0.32 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;0.83 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>5</sup> | (0.35) | 10.06 | &nbsp;&nbsp;&nbsp;8.63 | 0.47 | 0.39 | 3.20 | &nbsp;&nbsp;&nbsp;345 | 11 |
| 12-31-2024 | &nbsp;&nbsp;9.56 | 0.28 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;0.33 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>5</sup> | (0.31) | &nbsp;&nbsp;9.58 | &nbsp;&nbsp;&nbsp;3.43 | 0.46 | 0.39 | 2.86 | &nbsp;&nbsp;&nbsp;384 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.56 | 0.26 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.48 | (0.27) | (0.21) | (0.48) | &nbsp;&nbsp;9.56 | &nbsp;&nbsp;&nbsp;5.20 | 0.47 | 0.39 | 2.63 | &nbsp;&nbsp;&nbsp;449 | &nbsp;&nbsp;5 |
| 12-31-2022 | 11.56 | 0.24 | (1.97) | (1.73) | (0.26) | (0.01) | (0.27) | &nbsp;&nbsp;9.56 | (14.93) | 0.45 | 0.38 | 2.31 | &nbsp;&nbsp;&nbsp;499 | &nbsp;&nbsp;8 |
| 12-31-2021 | 11.52 | 0.25 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;0.38 | (0.27) | (0.07) | (0.34) | 11.56 | &nbsp;&nbsp;&nbsp;3.31 | 0.45 | 0.36 | 2.10 | &nbsp;&nbsp;&nbsp;683 | &nbsp;&nbsp;7 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2025 | &nbsp;&nbsp;9.70 | 0.36 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;0.87 | (0.40) | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>5</sup> | (0.40) | 10.17 | &nbsp;&nbsp;&nbsp;8.91 | 0.22 | 0.14 | 3.55 | &nbsp;&nbsp;&nbsp;&nbsp;50 | 11 |
| 12-31-2024 | &nbsp;&nbsp;9.68 | 0.31 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.35 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>5</sup> | (0.33) | &nbsp;&nbsp;9.70 | &nbsp;&nbsp;&nbsp;3.64 | 0.21 | 0.14 | 3.19 | &nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;6 |
| 12-31-2023 | &nbsp;&nbsp;9.67 | 0.29 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;0.52 | (0.30) | (0.21) | (0.51) | &nbsp;&nbsp;9.68 | &nbsp;&nbsp;&nbsp;5.50 | 0.22 | 0.14 | 2.93 | &nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;5 |
| 12-31-2022 | 11.69 | 0.28 | (2.00) | (1.72) | (0.29) | (0.01) | (0.30) | &nbsp;&nbsp;9.67 | (14.72) | 0.20 | 0.13 | 2.67 | &nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;8 |
| 12-31-2021 | 11.65 | 0.29 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.41 | (0.30) | (0.07) | (0.37) | 11.69 | &nbsp;&nbsp;&nbsp;3.52 | 0.20 | 0.11 | 2.44 | &nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;7 |
| **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Less than $0.005 per share.** |

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**The accompanying notes are an integral part of the financial statements.** <sub>11</sub>

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[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

## John Hancock Variable Insurance Trust

#### Notes to financial statements

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1. Organization

John Hancock Variable Insurance Trust (the Trust) is a no-load, open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, four of which are presented in this report (collectively, Managed Volatility Portfolios, or the portfolios and individually, the portfolio). The portfolios operate as "funds of funds" that may invest in affiliated underlying funds of the Trust, other funds in the John Hancock group of funds complex, non-John Hancock funds and certain other permitted investments.

The portfolios may offer multiple classes of shares: Series I, Series II, and Series NAV. The shares currently offered by each portfolio are shown on the Statements of assets and liabilities. Shares of the portfolios are presently offered only to certain affiliates of John Hancock Variable Trust Advisers LLC (the Advisor). Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, for each class may differ.

The investment objectives of the portfolios are as follows:

#### Managed Volatility Growth Portfolio
To seek long term growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

#### Managed Volatility Balanced Portfolio
To seek growth of capital and current income while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

#### Managed Volatility Moderate Portfolio
To seek current income and growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

#### Managed Volatility Conservative Portfolio
To seek current income and growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

The accounting policies of the underlying funds in which the portfolios invest are outlined in the underlying funds' shareholder reports, which include the underlying funds' financial statements. These are available on the Securities and Exchange Commission (SEC) website at sec.gov. John Hancock underlying funds' shareholder reports are also available without charge by calling 800-344-1029 or visiting jhannuities.com. The underlying funds are not covered by this report.

2. Significant accounting policies

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The portfolios qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.

Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the portfolios:

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

In order to value the securities, the portfolios use the following valuation techniques: Investments in affiliated underlying funds and/or other open-end management investment companies, other than exchange-traded funds (ETFs), are valued at their respective NAVs each business day. 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. Futures contracts are typically valued based on the settlement price. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by 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 portfolios use a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor's assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

**Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp; 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 portfolios' investments as of December 31, 2025, by major security category or type:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-25** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$5100101613** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5100101613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**71014641** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71014641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$5171116254** | **$5171116254** | **—** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2264921** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2264921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1423442)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1423442) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3809175707** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3809175707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**35759035** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35759035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$3844934742** | **$3844934742** | **—** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1027041** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1027041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(691087)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(691087) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$974016236** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$974016236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6670940** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6670940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$980687176** | &nbsp;&nbsp;&nbsp;&nbsp;**$980687176** | **—** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$169030** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$169030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(97664)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97664) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$462130633** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$462130633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2257124** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2257124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$464387757** | &nbsp;&nbsp;&nbsp;&nbsp;**$464387757** | **—** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$24689** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(19629)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19629) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

**Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp; Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Capital gain distributions from underlying funds are recorded on ex-date and reflected as realized gains. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the portfolio becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation. Return of capital distributions from underlying funds, if any, are treated as a reduction of cost.** 

**Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.**

Portfolios that invest internationally generally carry more risk than portfolios that invest strictly in U.S. securities. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.

**Overdraft. The portfolios may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the portfolios' custodian agreement, the custodian may loan money to the portfolios to make properly authorized payments. The portfolios are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any portfolio property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law. Overdrafts at period end, if any, are presented under the caption Due to custodian in the Statements of assets and liabilities.**

**Line of credit. The portfolios and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit, which is in effect through July 13, 2026 unless extended or renewed. Excluding commitments designated for certain funds and subject to the needs of all other affiliated funds, a portfolio can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating portfolio based on an asset-based allocation and is reflected in Other expenses on the Statements of operations. For the year ended December 31, 2025, the portfolios had no borrowings under the line of credit.**

Commitment fees for the year ended December 31, 2025 were as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commitment fee** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$28950 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21699 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5604 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2707 |

---

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

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

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

For federal income tax purposes, as of December 31, 2025, certain portfolios have capital loss carryforwards available to offset future net realized capital gains. The following table details the capital loss carryforwards available as of December 31, 2025:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Short Term** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term** |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$11721370 | &nbsp;&nbsp;&nbsp;&nbsp;$19812320 |

---

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

For federal income tax purposes, the costs of investments owned on December 31, 2025, including short-term investments, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aggregate<br> cost** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net unrealized<br> appreciation/<br> (depreciation)** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$4960878293 | &nbsp;&nbsp;&nbsp;&nbsp;$373321378 | &nbsp;&nbsp;&nbsp;&nbsp;$(162241938) | &nbsp;&nbsp;&nbsp;&nbsp;$211079440 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3896173820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159451082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(210354206) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50903124) |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028837040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41651894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89730392) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48078498) |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511440725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10362531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57410439) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47047908) |

---

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

**Significant accounting policies, continued &nbsp;&nbsp;&nbsp;&nbsp; Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The portfolios generally declare and pay dividends and capital gain distributions, if any, annually.**

The tax character of distributions for the year ended December 31, 2025 was as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary<br> Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term<br> Capital Gains** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$125225919 | &nbsp;&nbsp;&nbsp;&nbsp;$274951392 | &nbsp;&nbsp;&nbsp;&nbsp;$400177311 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113271050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134719685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247990735 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28285283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20420625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48705908 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16120411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16120411 |

---

The tax character of distributions for the year ended December 31, 2024 was as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary<br> Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term<br> Capital Gains** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$103884521 | &nbsp;&nbsp;&nbsp;&nbsp;$33280938 | &nbsp;&nbsp;&nbsp;&nbsp;$137165459 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98635363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16677166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115312529 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27933919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27933919 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16236816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16236816 |

---

Distributions paid by the portfolios with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of December 31, 2025, the components of distributable earnings on a tax basis were as follows:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Undistributed<br> Ordinary Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Undistributed<br> Long Term<br> Capital Gains** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$11761668 | &nbsp;&nbsp;&nbsp;&nbsp;$172998836 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7867270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95968419 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1840026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17653916 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

Such distributions and distributable earnings, on a tax basis, if any, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the portfolios' financial statements as a return of capital. Short-term gains from underlying funds are treated as ordinary income for tax purposes.

Capital accounts within the financial statements are adjusted for permanent book-tax differences at fiscal year end. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to wash sale loss deferrals.

3. Derivative instruments

The portfolios may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the portfolios are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.

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

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

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

The following table details how the portfolios used futures contracts during the year ended December 31, 2025. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

#### Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;To manage volatility of returns and gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;$93.0 million to $489.4 million |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;To manage volatility of returns and gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;$227.1 million to $291.9 million |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;To manage volatility of returns and gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;$37.3 million to $65.4 million |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;To manage volatility of returns and gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;$9.2 million to $15.6 million |

---

#### Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the portfolios at December 31, 2025 by risk category:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial<br> instruments<br> location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets<br> derivatives<br> fair value** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities<br> derivatives<br> fair value** |
| **Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;Currency &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$420016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(256883) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1844905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1166559) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$2264921** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1423442)** |
| **Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;Currency &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$197303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(100954) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(590133) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$1027041** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(691087)** |
| **Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;Currency &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$23094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(15715) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81949) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$169030** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(97664)** |
| **Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;Currency &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(2436) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17193) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$24689** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(19629)** |

---

<br> <sup>1</sup> Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Portfolios of investments. Only the year end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.

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

---

| | | |
|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** |
| **Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(5189568) |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(166560309) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$(171749877)** |
| **Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1407729) |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(95974652) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;**$(97382381)** |
| **Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(242572) |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19472889) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;**$(19715461)** |
| **Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50639 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2409488) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2358849)** |

---

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

---

| | | |
|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** |
| **Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1274190 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8978584 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$10252774** |

---

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

#### Derivative instruments, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** |
| **Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$964008 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;6953094 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$7917102** |
| **Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$157945 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;1317128 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$1475073** |
| **Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27169 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297924 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;**$325093** |

---

4. Guarantees and indemnifications

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

5. Fees and transactions with affiliates

John Hancock Variable Trust Advisers LLC (the Advisor) serves as investment advisor for the portfolios. John Hancock Distributors, LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the portfolios. The Advisor and the Distributor are wholly owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.

**Management fee. The portfolios have an investment management agreement with the Advisor under which the portfolios pay a daily management fee to the Advisor as detailed below. The Advisor has a subadvisory agreement with Manulife Investment Management (US) LLC, an indirect, wholly owned subsidiary of Manulife Financial Corporation and an affiliate of the Advisor. The portfolios are not responsible for payment of the subadvisory fees.**

The management fee has two components: (a) a fee on assets invested in affiliated funds (Affiliated funds assets) and (b) a fee on assets not invested in affiliated funds (Other assets). Affiliated funds are any fund of the Trust (excluding 500 Index Trust, International Equity Index Trust and Total Bond Market Trust), John Hancock Funds II (JHF II) and John Hancock Funds III. Aggregate net assets include the net assets of the portfolios and the net assets of similar funds of the Trust and JHF II.

Management fees are determined in accordance with the following schedule:

---

| | | |
|:---|:---|:---|
|  | **First $7.5 billion of aggregate net assets** | **Excess over $7.5 billion of aggregate net assets** |
| Affiliated funds assets | 0.050% | 0.040% |
| Other assets | 0.500% | 0.490% |

---

**Expense reimbursements. The Advisor has voluntarily agreed to waive its management fee or reimburse the portfolios so that the aggregate management fee retained by the Advisor with respect to both the portfolios and the underlying investments does not exceed 0.50% of the portfolios' first $7.5 billion of aggregate daily net assets and 0.49% of the portfolios' aggregate net assets in excess of $7.5 billion. In addition, the Advisor voluntarily agreed to waive its management fees and/or reduce expenses by 0.01% of each portfolio's average net assets. These voluntary waivers may be terminated at any time by the Advisor upon notice to the Trust.**

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series I** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series II** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$409715 | &nbsp;&nbsp;&nbsp;&nbsp;$3748015 | &nbsp;&nbsp;&nbsp;&nbsp;$1025700 | &nbsp;&nbsp;&nbsp;&nbsp;$5183430 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2291596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3571630 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854111 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383838 |

---

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

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended December 31, 2025, were equivalent to a net annual effective rate of the portfolios' average daily net assets as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.09% |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.09% |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.08% |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.09% |

---

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

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

**Distribution and service plans. The portfolios have a distribution agreement with the Distributor. The portfolios have adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the portfolios. The portfolios may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the portfolios' shares:**

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rule 12b-1 Fee** |
| Series I | &nbsp;&nbsp;&nbsp;&nbsp;0.15% |
| Series II | &nbsp;&nbsp;&nbsp;&nbsp;0.35% |

---

Currently only 0.05% for Series I shares and 0.25% for Series II shares are charged for 12b-1 fees.

Distribution and service fees for the year ended December 31, 2025 were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series l** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series ll** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$207326 | &nbsp;&nbsp;&nbsp;&nbsp;$9486014 | &nbsp;&nbsp;&nbsp;&nbsp;$9693340 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6298607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6461926 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1987813 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941486 |

---

**Trustee expenses. The portfolios compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each portfolio based on their net assets relative to other funds within the John Hancock group of funds complex.** 

6. Portfolio share transactions

Transactions in portfolios' shares for the years ended December 31, 2025 and 2024 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8726478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1838949 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2753980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32558623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11417276 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5608274) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65627394) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6401533) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72451525) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2113512)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(24342293)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5248630)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(59195300)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24072634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282980005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8554106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$98406661 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(53240110) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(619637074) | &nbsp;&nbsp;&nbsp;&nbsp;(59863769) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(670552812) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(29163122)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(336606681)** | &nbsp;&nbsp;&nbsp;&nbsp;**(51309663)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(572146151)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7213400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9754601 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7142731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84638683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2358295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27341522 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4741733) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55958706) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4258716) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48039653) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3017945** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$35893377** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1036234)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(10943530)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(28258689)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(325055597)** | &nbsp;&nbsp;&nbsp;&nbsp;**(57594527)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(642284981)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$679703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$940267 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1902179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21010954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10001141 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4834121) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52670375) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4718120) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49909853) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2869542)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(30979718)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3693430)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(38968445)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$945459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$193197 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14095724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154274467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6930659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73477667 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(39806125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(428977944) | &nbsp;&nbsp;&nbsp;&nbsp;(42359012) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(442786898) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(25624279)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(273758018)** | &nbsp;&nbsp;&nbsp;&nbsp;**(35410645)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(369116034)** |

---

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

#### Portfolio share transactions, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Balanced Portfolio, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2599686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3756670 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6552858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72705314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2963606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31833721 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7306876) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80080417) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7125780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75457247) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(522703)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4775417)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3806704)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(39866856)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(29016524)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(309513153)** | &nbsp;&nbsp;&nbsp;&nbsp;**(42910779)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(447951335)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3419397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$694482 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5909053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3484287 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2515134) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26339550) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2572822) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25923068) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1636541)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(17011100)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2162440)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(21744299)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$744454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$764904 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3456544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36406188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2105903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21185092 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(12774192) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(131355068) | &nbsp;&nbsp;&nbsp;&nbsp;(15112809) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(150631491) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9244751)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(94204426)** | &nbsp;&nbsp;&nbsp;&nbsp;**(12926803)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(128681495)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1520476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2122995 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6390667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3264540 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(526223) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5492159) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1448876) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14579850) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**219231** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2418984** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(918935)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9192315)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(10662061)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(108796542)** | &nbsp;&nbsp;&nbsp;&nbsp;**(16008178)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(159618109)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-25** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-24** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5066011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4183121 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2642566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2557223 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1743333) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17419395) | &nbsp;&nbsp;&nbsp;&nbsp;(2530742) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24716741) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(972863)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9710818)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1844969)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(17976397)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2014587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1035164 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1147047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11587495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12041169 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(7082372) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70308791) | &nbsp;&nbsp;&nbsp;&nbsp;(8234457) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79856605) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(5736317)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(56706709)** | &nbsp;&nbsp;&nbsp;&nbsp;**(6877526)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(66780272)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1958708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2604562 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1638424 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(467940) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4751804) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(786610) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7694929) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(86755)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(902746)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(355034)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3451943)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(6795935)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(67320273)** | &nbsp;&nbsp;&nbsp;&nbsp;**(9077529)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(88208612)** |

---

Affiliates of the Trust owned 100% of shares of the portfolios on December 31, 2025. Such concentration of shareholders' capital could have a material effect on the portfolios if such shareholders redeem from the portfolios.

7. Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the year ended December 31, 2025:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$1031331896 | &nbsp;&nbsp;&nbsp;&nbsp;$1598328858 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632021721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040234465 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157369079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271834276 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53235197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115701252 |

---

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

8. Investment in affiliated underlying funds

The portfolios invest primarily in affiliated underlying funds that are managed by the Advisor and its affiliates. The portfolios do not invest in the affiliated underlying funds for the purpose of exercising management or control; however, the portfolios' investment may represent a significant portion of each affiliated underlying funds' net assets. At December 31, 2025, the following portfolios held 5% or more of the net assets of the affiliated underlying funds shown below:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Affiliated Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Percentage of<br> underlying fund<br> net assets** |
| Managed Volatility Growth Portfolio |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Multifactor Developed International ETF | &nbsp;&nbsp;&nbsp;&nbsp;25.1% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;22.9% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Small Cap Dynamic Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;21.1% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;18.5% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Emerging Markets Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;17.6% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;17.0% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;16.7% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;16.4% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;16.4% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;13.4% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Fundamental Large Cap Core Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2% |
| Managed Volatility Balanced Portfolio |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;21.9% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;21.1% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;12.1% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Small Cap Dynamic Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;10.9% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Multifactor Developed International ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Emerging Markets Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5% |
| Managed Volatility Moderate Portfolio |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5% |

---

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** |
| Blue Chip Growth | &nbsp;&nbsp;6039601 | $219285230 | $30793433 | $(47640245) | $11240281 | $(4466921) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $28863509 | $209211778 |
| Bond | 27399540 | &nbsp;&nbsp;401744089 | &nbsp;&nbsp;31534811 | &nbsp;&nbsp;(68140698) | &nbsp;&nbsp;&nbsp;(8505444) | 19014940 | $17691421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;375647698 |
| Core Bond | 11597572 | &nbsp;&nbsp;139993115 | &nbsp;&nbsp;11689301 | &nbsp;&nbsp;(24292274) | &nbsp;&nbsp;&nbsp;(4312691) | &nbsp;&nbsp;&nbsp;7743158 | &nbsp;&nbsp;&nbsp;&nbsp;5538186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;130820609 |
| Disciplined Value | 11788022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 334964304 | &nbsp;&nbsp;(56703806) | &nbsp;&nbsp;&nbsp;&nbsp;(129804) | 14330137 | &nbsp;&nbsp;&nbsp;&nbsp;2631742 | &nbsp;&nbsp;15885769 | &nbsp;&nbsp;292460831 |
| Emerging Markets Equity | 20185240 | &nbsp;&nbsp;222086295 | &nbsp;&nbsp;19816926 | &nbsp;&nbsp;(52572735) | &nbsp;&nbsp;&nbsp;&nbsp;1895513 | 33839424 | &nbsp;&nbsp;&nbsp;&nbsp;4798950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;225065423 |
| Equity Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;306311782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | (322055415) | &nbsp;&nbsp;36663438 | (20919805) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Fundamental Large Cap Core | &nbsp;&nbsp;6180128 | &nbsp;&nbsp;367103607 | 145804890 | &nbsp;&nbsp;(69478366) | &nbsp;&nbsp;27987077 | (31639326) | &nbsp;&nbsp;&nbsp;&nbsp;2381564 | &nbsp;&nbsp;43087905 | &nbsp;&nbsp;439777882 |
| John Hancock Collateral Trust | &nbsp;&nbsp;7098483 | &nbsp;&nbsp;&nbsp;&nbsp;20005584 | 572765603 | (521761036) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2491 | &nbsp;&nbsp;&nbsp;&nbsp;2237372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;71014641 |
| Mid Cap Growth | &nbsp;&nbsp;6991586 | &nbsp;&nbsp;&nbsp;&nbsp;88058003 | &nbsp;&nbsp;&nbsp;&nbsp;8845758 | &nbsp;&nbsp;(18145669) | &nbsp;&nbsp;&nbsp;(3441383) | &nbsp;&nbsp;&nbsp;8931905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;84248614 |
| Mid Value | 11731108 | &nbsp;&nbsp;113868564 | &nbsp;&nbsp;22740482 | &nbsp;&nbsp;(13811041) | &nbsp;&nbsp;&nbsp;&nbsp;2007668 | (16644856) | &nbsp;&nbsp;&nbsp;&nbsp;1316305 | &nbsp;&nbsp;19570396 | &nbsp;&nbsp;108160817 |
| Multifactor Developed International ETF | &nbsp;&nbsp;6062373 | &nbsp;&nbsp;201844090 | &nbsp;&nbsp;31085288 | &nbsp;&nbsp;(39550410) | &nbsp;&nbsp;10344220 | 48047163 | &nbsp;&nbsp;&nbsp;&nbsp;8038403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;251770351 |

---

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

#### Investment in affiliated underlying funds, continued &nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;3152024 | $115333213 | &nbsp;&nbsp;&nbsp;&nbsp;$726054 | $(37506147) | &nbsp;&nbsp;&nbsp;$5447482 | &nbsp;&nbsp;&nbsp;&nbsp;$19700988 | &nbsp;&nbsp;&nbsp;&nbsp;$2579186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$103701590 |
| Multifactor Mid Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;1762845 | &nbsp;&nbsp;&nbsp;120095945 | &nbsp;&nbsp;&nbsp;&nbsp;1388848 | &nbsp;&nbsp;(16635334) | &nbsp;&nbsp;&nbsp;&nbsp;7397008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3184624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115431091 |
| Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;2539230 | &nbsp;&nbsp;&nbsp;111164781 | &nbsp;&nbsp;&nbsp;&nbsp;7945286 | &nbsp;&nbsp;(18380531) | &nbsp;&nbsp;&nbsp;&nbsp;6170859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(278127) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1221938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106622268 |
| Select Bond | &nbsp;&nbsp;81037082 | 1030948704 | &nbsp;&nbsp;80046698 | (178056638) | &nbsp;&nbsp;(27539094) | &nbsp;&nbsp;&nbsp;&nbsp;58131237 | &nbsp;&nbsp;&nbsp;&nbsp;39834651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963530907 |
| Small Cap Core | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;72639391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(64076877) | &nbsp;&nbsp;&nbsp;&nbsp;(6798698) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1763816) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Small Cap Dynamic Growth | &nbsp;&nbsp;&nbsp;&nbsp;6890240 | &nbsp;&nbsp;&nbsp;&nbsp;35336980 | &nbsp;&nbsp;92216088 | &nbsp;&nbsp;(22216117) | &nbsp;&nbsp;&nbsp;&nbsp;(2138054) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3530922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$10586893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106729819 |
| Strategic Equity Allocation | &nbsp;&nbsp;84635837 | 1689234539 | 211733730 | (407437462) | &nbsp;&nbsp;&nbsp;&nbsp;(9706008) | &nbsp;&nbsp;&nbsp;&nbsp;103097136 | &nbsp;&nbsp;&nbsp;&nbsp;24226486 | &nbsp;&nbsp;&nbsp;&nbsp;177531287 | &nbsp;&nbsp;&nbsp;&nbsp;1586921935 |
|  |  |  |  |  | **$46584369** | **$243841274** | **$113654603** | **$295525759** | **$5171116254** |
| **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** |
| Blue Chip Growth | &nbsp;&nbsp;&nbsp;&nbsp;3686036 | $133218143 | $18103166 | $(28217533) | &nbsp;&nbsp;&nbsp;$7912221 | &nbsp;&nbsp;&nbsp;&nbsp;$(3331706) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$17796753 | &nbsp;&nbsp;&nbsp;&nbsp;$127684291 |
| Bond | &nbsp;&nbsp;35299861 | &nbsp;&nbsp;&nbsp;517883586 | &nbsp;&nbsp;29009276 | &nbsp;&nbsp;(76631345) | &nbsp;&nbsp;&nbsp;&nbsp;(9510836) | &nbsp;&nbsp;&nbsp;&nbsp;23210408 | &nbsp;&nbsp;&nbsp;&nbsp;$23026064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483961089 |
| Core Bond | &nbsp;&nbsp;14913378 | &nbsp;&nbsp;&nbsp;180118945 | &nbsp;&nbsp;10550095 | &nbsp;&nbsp;(26899377) | &nbsp;&nbsp;&nbsp;&nbsp;(4654531) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9107770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7191981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168222902 |
| Disciplined Value | &nbsp;&nbsp;&nbsp;&nbsp;7244577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 204542440 | &nbsp;&nbsp;(34237880) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8954132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1614415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9744962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179737958 |
| Emerging Markets Equity | &nbsp;&nbsp;&nbsp;&nbsp;9597944 | &nbsp;&nbsp;&nbsp;105439611 | &nbsp;&nbsp;&nbsp;&nbsp;9209774 | &nbsp;&nbsp;(25035233) | &nbsp;&nbsp;&nbsp;&nbsp;1561375 | &nbsp;&nbsp;&nbsp;&nbsp;15841552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2262821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107017079 |
| Equity Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;188534182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | (198261904) | &nbsp;&nbsp;&nbsp;24577626 | &nbsp;&nbsp;&nbsp;&nbsp;(14849904) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Fundamental Large Cap Core | &nbsp;&nbsp;&nbsp;&nbsp;3759541 | &nbsp;&nbsp;&nbsp;203557384 | 107108836 | &nbsp;&nbsp;(41598021) | &nbsp;&nbsp;&nbsp;14750696 | &nbsp;&nbsp;&nbsp;&nbsp;(16289952) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1449849 | &nbsp;&nbsp;&nbsp;&nbsp;26231055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267528943 |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;3574402 | &nbsp;&nbsp;&nbsp;&nbsp;25880612 | 294453923 | (284578599) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1501868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35759035 |
| Mid Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp;2895071 | &nbsp;&nbsp;&nbsp;&nbsp;36325934 | &nbsp;&nbsp;&nbsp;&nbsp;1425633 | &nbsp;&nbsp;&nbsp;&nbsp;(5185125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59728) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2378896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34885610 |
| Mid Value | &nbsp;&nbsp;&nbsp;&nbsp;5364551 | &nbsp;&nbsp;&nbsp;&nbsp;52139716 | &nbsp;&nbsp;&nbsp;&nbsp;9918195 | &nbsp;&nbsp;&nbsp;&nbsp;(5891762) | &nbsp;&nbsp;&nbsp;&nbsp;1060989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7765980) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9045347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49461158 |
| Multifactor Developed International ETF | &nbsp;&nbsp;&nbsp;&nbsp;2202551 | &nbsp;&nbsp;&nbsp;&nbsp;84986558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4775 | &nbsp;&nbsp;(15804247) | &nbsp;&nbsp;&nbsp;&nbsp;4166153 | &nbsp;&nbsp;&nbsp;&nbsp;18118704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2920473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91471943 |
| Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;1494556 | &nbsp;&nbsp;&nbsp;&nbsp;55319931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197595 | &nbsp;&nbsp;(18529244) | &nbsp;&nbsp;&nbsp;&nbsp;2845906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9336704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1236093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49170892 |
| Multifactor Mid Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949380 | &nbsp;&nbsp;&nbsp;&nbsp;64711303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417216 | &nbsp;&nbsp;&nbsp;&nbsp;(8851835) | &nbsp;&nbsp;&nbsp;&nbsp;4030801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1857917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62165402 |
| Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;1312179 | &nbsp;&nbsp;&nbsp;&nbsp;49819892 | &nbsp;&nbsp;11555431 | &nbsp;&nbsp;(10259491) | &nbsp;&nbsp;&nbsp;&nbsp;3587912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55098396 |
| Select Bond | 103878416 | 1321953750 | &nbsp;&nbsp;70962241 | (197342570) | &nbsp;&nbsp;(33025546) | &nbsp;&nbsp;&nbsp;&nbsp;72566489 | &nbsp;&nbsp;&nbsp;&nbsp;51554733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1235114364 |
| Small Cap Core | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;44517926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(39270285) | &nbsp;&nbsp;&nbsp;&nbsp;(5167962) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79679) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Small Cap Dynamic Growth | &nbsp;&nbsp;&nbsp;&nbsp;3560789 | &nbsp;&nbsp;&nbsp;&nbsp;18795726 | &nbsp;&nbsp;48058670 | &nbsp;&nbsp;(12670987) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(863257) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1836470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5441168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55156622 |
| Strategic Equity Allocation | &nbsp;&nbsp;44933283 | &nbsp;&nbsp;&nbsp;893255644 | 110958381 | (214685929) | &nbsp;&nbsp;&nbsp;&nbsp;8480348 | &nbsp;&nbsp;&nbsp;&nbsp;44490614 | &nbsp;&nbsp;&nbsp;&nbsp;12963328 | &nbsp;&nbsp;&nbsp;&nbsp;94995052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842499058 |
|  |  |  |  |  | **$20174108** | **$165777511** | **$107598806** | **$163254337** | **$3844934742** |
| **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** |
| Blue Chip Growth | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823140 | &nbsp;&nbsp;&nbsp;$29870414 | &nbsp;&nbsp;$4542752 | &nbsp;&nbsp;$(6962048) | &nbsp;&nbsp;&nbsp;$2390512 | &nbsp;&nbsp;&nbsp;&nbsp;$(1328069) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$3939875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$28513561 |
| Bond | &nbsp;&nbsp;10832005 | &nbsp;&nbsp;&nbsp;161390442 | &nbsp;&nbsp;&nbsp;&nbsp;9086307 | &nbsp;&nbsp;(26229217) | &nbsp;&nbsp;&nbsp;&nbsp;(3211717) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7470968 | &nbsp;&nbsp;&nbsp;&nbsp;$7169017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148506783 |
| Core Bond | &nbsp;&nbsp;&nbsp;&nbsp;4579331 | &nbsp;&nbsp;&nbsp;&nbsp;56160262 | &nbsp;&nbsp;&nbsp;&nbsp;3084126 | &nbsp;&nbsp;&nbsp;&nbsp;(8999483) | &nbsp;&nbsp;&nbsp;&nbsp;(1538393) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2948342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2216683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51654854 |
| Disciplined Value | &nbsp;&nbsp;&nbsp;&nbsp;1702736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;49169240 | &nbsp;&nbsp;&nbsp;&nbsp;(9190581) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2014597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42244879 |
| Emerging Markets Equity | &nbsp;&nbsp;&nbsp;&nbsp;1779989 | &nbsp;&nbsp;&nbsp;&nbsp;21265505 | &nbsp;&nbsp;&nbsp;&nbsp;1207360 | &nbsp;&nbsp;&nbsp;&nbsp;(5930463) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3170034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19846878 |
| Equity Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;44426347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(46721441) | &nbsp;&nbsp;&nbsp;&nbsp;6594768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4299674) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **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** |
| Fundamental Large Cap Core | &nbsp;&nbsp;&nbsp;&nbsp;851493 | $44395121 | $27309724 | $(10749119) | &nbsp;&nbsp;&nbsp;$4529997 | &nbsp;&nbsp;$(4893462) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$329045 | &nbsp;&nbsp;&nbsp;$5953179 | &nbsp;&nbsp;&nbsp;&nbsp;$60592261 |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;666814 | &nbsp;&nbsp;&nbsp;&nbsp;6943245 | &nbsp;&nbsp;69710316 | &nbsp;&nbsp;(69982876) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(199) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6670940 |
| Mid Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp;736154 | &nbsp;&nbsp;&nbsp;&nbsp;9240655 | &nbsp;&nbsp;&nbsp;&nbsp;1136697 | &nbsp;&nbsp;&nbsp;&nbsp;(2140932) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8870657 |
| Mid Value | &nbsp;&nbsp;1252451 | &nbsp;&nbsp;12172396 | &nbsp;&nbsp;&nbsp;&nbsp;2718807 | &nbsp;&nbsp;&nbsp;&nbsp;(1797413) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636328 | &nbsp;&nbsp;&nbsp;&nbsp;(2182522) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140951 | &nbsp;&nbsp;&nbsp;&nbsp;2095614 | &nbsp;&nbsp;&nbsp;&nbsp;11547596 |
| Multifactor Developed International ETF | &nbsp;&nbsp;&nbsp;&nbsp;239139 | &nbsp;&nbsp;&nbsp;&nbsp;9268134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34735 | &nbsp;&nbsp;&nbsp;&nbsp;(1799370) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426104 | &nbsp;&nbsp;&nbsp;&nbsp;2001840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9931443 |
| Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;278086 | &nbsp;&nbsp;&nbsp;&nbsp;8960851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501235 | &nbsp;&nbsp;&nbsp;&nbsp;(2535626) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453715 | &nbsp;&nbsp;&nbsp;&nbsp;1768854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9149029 |
| Multifactor Mid Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;111301 | &nbsp;&nbsp;&nbsp;&nbsp;7627402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258563 | &nbsp;&nbsp;&nbsp;&nbsp;(1292519) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7287989 |
| Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;221756 | &nbsp;&nbsp;&nbsp;&nbsp;6218555 | &nbsp;&nbsp;&nbsp;&nbsp;4358971 | &nbsp;&nbsp;&nbsp;&nbsp;(2160681) | &nbsp;&nbsp;&nbsp;&nbsp;1176686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(281997) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9311534 |
| Select Bond | 31921682 | 412288069 | &nbsp;&nbsp;21339054 | &nbsp;&nbsp;(66547371) | &nbsp;&nbsp;(10910722) | &nbsp;&nbsp;&nbsp;23379768 | &nbsp;&nbsp;&nbsp;15896795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;379548798 |
| Small Cap Core | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;8903629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(7854096) | &nbsp;&nbsp;&nbsp;(1068594) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Small Cap Dynamic Growth | &nbsp;&nbsp;&nbsp;&nbsp;601768 | &nbsp;&nbsp;&nbsp;&nbsp;4064452 | &nbsp;&nbsp;&nbsp;&nbsp;7713661 | &nbsp;&nbsp;&nbsp;&nbsp;(2506927) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(315048) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9321389 |
| Strategic Equity Allocation | &nbsp;&nbsp;9476725 | 189212514 | &nbsp;&nbsp;24907846 | &nbsp;&nbsp;(48078015) | &nbsp;&nbsp;&nbsp;&nbsp;3916883 | &nbsp;&nbsp;&nbsp;&nbsp;7729357 | &nbsp;&nbsp;&nbsp;&nbsp;2709714 | &nbsp;&nbsp;&nbsp;19856742 | &nbsp;&nbsp;&nbsp;&nbsp;177688585 |
|  |  |  |  |  | **$4273473** | **$38404494** | **$30335798** | **$35074948** | **$980687176** |
| **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** |
| Blue Chip Growth | &nbsp;&nbsp;&nbsp;&nbsp;210935 | &nbsp;&nbsp;$7781835 | &nbsp;&nbsp;$1699046 | &nbsp;&nbsp;$(2500600) | &nbsp;&nbsp;&nbsp;$1142007 | &nbsp;&nbsp;&nbsp;&nbsp;$(815508) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$1024385 | &nbsp;&nbsp;&nbsp;&nbsp;$7306780 |
| Bond | &nbsp;&nbsp;6916220 | 104145774 | &nbsp;&nbsp;&nbsp;&nbsp;5579248 | &nbsp;&nbsp;(17701891) | &nbsp;&nbsp;&nbsp;(2090007) | &nbsp;&nbsp;&nbsp;&nbsp;4888259 | &nbsp;&nbsp;&nbsp;$4628783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;94821383 |
| Core Bond | &nbsp;&nbsp;2914115 | &nbsp;&nbsp;36103649 | &nbsp;&nbsp;&nbsp;&nbsp;1823751 | &nbsp;&nbsp;&nbsp;&nbsp;(5978064) | &nbsp;&nbsp;&nbsp;(1110318) | &nbsp;&nbsp;&nbsp;&nbsp;2032195 | &nbsp;&nbsp;&nbsp;&nbsp;1421060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;32871213 |
| Disciplined Value | &nbsp;&nbsp;&nbsp;&nbsp;476071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;13885111 | &nbsp;&nbsp;&nbsp;&nbsp;(2741733) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648561 | &nbsp;&nbsp;&nbsp;&nbsp;11811319 |
| Emerging Markets Equity | &nbsp;&nbsp;&nbsp;&nbsp;375155 | &nbsp;&nbsp;&nbsp;&nbsp;4637007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355449 | &nbsp;&nbsp;&nbsp;&nbsp;(1527802) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(723037) | &nbsp;&nbsp;&nbsp;&nbsp;1441363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4182980 |
| Equity Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;12924053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(13580590) | &nbsp;&nbsp;&nbsp;&nbsp;1065530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(408993) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Fundamental Large Cap Core | &nbsp;&nbsp;&nbsp;&nbsp;194945 | &nbsp;&nbsp;10796643 | &nbsp;&nbsp;&nbsp;&nbsp;6269198 | &nbsp;&nbsp;&nbsp;&nbsp;(3165074) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(229641) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75871 | &nbsp;&nbsp;&nbsp;&nbsp;1372682 | &nbsp;&nbsp;&nbsp;&nbsp;13872292 |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;225618 | &nbsp;&nbsp;&nbsp;&nbsp;2428405 | &nbsp;&nbsp;16732805 | &nbsp;&nbsp;(16903973) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(224) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2257124 |
| Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58453 | &nbsp;&nbsp;&nbsp;&nbsp;1927996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(702472) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1923104 |
| Multifactor Mid Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98004 | &nbsp;&nbsp;&nbsp;&nbsp;6980705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387339 | &nbsp;&nbsp;&nbsp;&nbsp;(1598689) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(248360) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6417302 |
| Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60468 | &nbsp;&nbsp;&nbsp;&nbsp;5511024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418177 | &nbsp;&nbsp;&nbsp;&nbsp;(3301926) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(729630) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2539051 |
| Select Bond | 20315788 | 265308333 | &nbsp;&nbsp;13060133 | &nbsp;&nbsp;(44972856) | &nbsp;&nbsp;&nbsp;(7662142) | &nbsp;&nbsp;&nbsp;15821248 | &nbsp;&nbsp;&nbsp;10201093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;241554716 |
| Small Cap Dynamic Growth | &nbsp;&nbsp;&nbsp;&nbsp;164090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3171283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(793918) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2541756 |
| Strategic Equity Allocation | &nbsp;&nbsp;2255399 | &nbsp;&nbsp;45861179 | &nbsp;&nbsp;&nbsp;&nbsp;6368673 | &nbsp;&nbsp;(12873642) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(655763) | &nbsp;&nbsp;&nbsp;&nbsp;3588290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651822 | &nbsp;&nbsp;&nbsp;&nbsp;4776544 | &nbsp;&nbsp;&nbsp;&nbsp;42288737 |
|  |  |  |  |  | **$(7891869)** | **$26248254** | **$17471388** | &nbsp;&nbsp;**$8077081** | **$464387757** |

---

9. Segment reporting

The management committee of the Advisor acts as the portfolios' chief operating decision maker (the CODM), assessing performance and making decisions about resource allocation. Each portfolio represents a single operating segment, as the CODM monitors and assesses the operating results of the portfolio as a whole, and the portfolio's long-term strategic asset allocation is managed in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the portfolio management team of the portfolio's subadvisor. Segment assets are reflected in the Statements of assets and liabilities as "Total assets", which consists primarily of total investments at value. The financial information, including the measurement of profit and loss

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

Segment reporting, continued

&nbsp;&nbsp;&nbsp;&nbsp;

and significant expenses, provided to and reviewed by the CODM is consistent with that presented within the Statements of operations, which includes "Increase (decrease) in net assets from operations", Statements of changes in net assets, which includes "Increase (decrease) in net assets from portfolio share transactions", and Financial highlights, which includes total return and income and expense ratios.

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

John Hancock Variable Insurance Trust

------

#### Report of Independent Registered Public Accounting Firm
**To the Board of Trustees of John Hancock Variable Insurance Trust and Shareholders of Managed Volatility Growth Portfolio, Managed Volatility Balanced Portfolio, Managed Volatility Moderate Portfolio and Managed Volatility Conservative Portfolio**

#### Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the portfolio of investments, of John Hancock Managed Volatility Growth Portfolio, John Hancock Managed Volatility Balanced Portfolio, John Hancock Managed Volatility Moderate Portfolio and John Hancock Managed Volatility Conservative Portfolio (four of the funds constituting John Hancock Variable Insurance Trust, hereafter collectively referred to as the "Portfolios") as of December 31, 2025, the related statements of operations for the year ended December 31, 2025, the statements of changes in net assets for each of the two years in the period ended December 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Portfolios as of December 31, 2025, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended December 31, 2025 and each of the financial highlights for each of the five years in the period ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

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

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

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

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

February 20, 2026

We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

## John Hancock Variable Insurance Trust

#### Shareholder meeting

------

(Unaudited)

The portfolios held a Special Joint Meeting of Shareholders on Wednesday, November 12, 2025. The following proposal was considered by the shareholders:

#### Proposal: To elect five Trustees as members of the Board of Trustees of each of the Trusts.
THE PROPOSAL <u>PASSED</u> ON November 12, 2025.

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total votes<br> for the nominee** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total votes withheld<br> from the nominee** |
| **Independent Trustees** |  |  |
| William K. Bacic | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5670414595.663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26667188.714 |
| Christine L. Hurtsellers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5669231089.721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27850694.656 |
| Kenneth J. Phelan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5670154966.243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26926818.134 |
| Thomas R. Wright | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5670911891.149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26169893.228 |
| **Non-Independent Trustee** |  |  |
| Kristie M. Feinberg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5669183954.600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27897829.777 |

---

------

[**Table of Contents**](#JOB_JHVIT_ae176f3b-65d5-493a-8c89-dcd6301e18e0_TOC)

![](img3b0c98111.gif)

John Hancock Distributors, LLC, Member FINRA, SIPC200 Berkeley Street, Boston, MA 02116

John Hancock Variable Annuities: 800-344-1029

John Hancock Variable Life Insurance: 800-732-5543

johnhancock.com

JHTLA 12/31

2/26

1115018:12/25

------

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

Not applicable.

------

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

Information included in Item 7, if applicable.

------

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

Refer to information included in Item 7.

------

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

Information included in Item 7, if applicable.

------

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

Not applicable.

------

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

Not applicable.

------

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

Not applicable.

------

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

No material changes.

------

ITEM 16. CONTROLS AND PROCEDURES.

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

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

------

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

Not applicable.

------

ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

Not applicable.

------

ITEM 19. EXHIBITS.

[(a)(1) Code of Ethics for Covered Officers is attached.](SOX_Code_of_Ethics-1.9.25.htm)

(a)(2) Not applicable.

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

[(b) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and Rule 30a-2(b) under the Investment Company Act of 1940, are attached. The certifications furnished pursuant to this paragraph are not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section. Such certifications are not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates them by reference.](JHVIT_906_Cert.htm)

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SIGNATURES

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

John Hancock Variable Insurance Trust

---

| | |
|:---|:---|
| By: | /s/ Kristie M. Feinberg |
|  | Kristie M. Feinberg |
|  | President, |
|  | Principal Executive Officer |
| Date: | February 20, 2026 |

---

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

---

| | |
|:---|:---|
| By: | /s/ Kristie M. Feinberg |
|  | Kristie M. Feinberg |
|  | President, |
|  | Principal Executive Officer |
| Date: | February 20, 2026 |
| By: | /s/ Fernando A. Silva |
|  | Fernando A. Silva |
|  | Chief Financial Officer, |
|  | Principal Financial Officer |
| Date: | February 20, 2026 |

---

------

## Ex-99.Code

![Image is missing](gbneurcdn9niswrglvp14.jpg)

**JOHN HANCOCK VARIABLE INSURANCE TRUST**

**JOHN HANCOCK FUNDS**

**JOHN HANCOCK FUNDS II**

**JOHN HANCOCK EXCHANGE-TRADED FUND TRUST**

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

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

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

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

This code of ethics (this "Code") for John Hancock Variable Insurance Trust, John Hancock Funds[<sup>1</sup>](#dive71df568-f76f-4a5c-90e7-e1ee99f1fac7), and John Hancock Funds II, John Hancock Exchange-Traded Fund Trust and, each a registered management investment company under the Investment Company Act of 1940, as amended ("1940 Act"), which may issue shares in separate and distinct series (each investment company and series thereunder to be hereinafter referred to as a "Fund"), applies to each Fund's Principal Executive Officer ("President"), Principal Financial Officer ("Chief Financial Officer") and Treasurer ("Treasurer") (the "Covered Officers" as set forth in <u>Exhibit A</u>) for the purpose of promoting:

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

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

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

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

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

1John Hancock Funds includes the following trusts: John Hancock Financial Opportunities Fund; John Hancock Bond Trust; John Hancock California Tax-Free Income Fund; John Hancock Capital Series; John Hancock Funds III; John Hancock Income Securities Trust; John Hancock Investment Trust; John Hancock Investment Trust II; John Hancock Investors Trust; John Hancock Municipal Securities Trust; John Hancock Premium Dividend Fund ; John Hancock Preferred Income Fund; John Hancock Preferred Income Fund II; John Hancock Preferred Income Fund III; John Hancock Sovereign Bond Fund; John Hancock Strategic Series; John Hancock Tax-Advantaged Dividend Income Fund; John Hancock Tax-Advantaged Global Shareholder Yield Fund; John Hancock Hedged Equity and Income Fund; and John Hancock Collateral Trust.

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

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

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

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

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

\* \* \*

Each Covered Officer must:

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

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

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

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

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

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

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

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

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

**III.Disclosure & Compliance**

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

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

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

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

IV. Reporting & Accountability

Each Covered Officer must:

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

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

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

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

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

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

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

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

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

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

****if the Board or, if applicable, Compliance Committee concurs that a violation has occurred, the Board, either upon its determination of a violation or upon

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

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

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

**V.Other Policies & Procedures**

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

VI. Amendments

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

VII. Confidentiality

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

VIII. Internal Use

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

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

**Persons Covered by this Code of Ethics**

**(As of December 31, 2025)**

**John Hancock Variable Insurance Trust**

****Principal Executive Officer and President – Kristie Feinberg

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

****Treasurer – Salvatore Schiavone

**John Hancock Funds**

****Principal Executive Officer and President – Kristie Feinberg

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

****Treasurer – Salvatore Schiavone

**John Hancock Funds II**

****Principal Executive Officer and President – Kristie Feinberg

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

****Treasurer – Salvatore Schiavone

**John Hancock Exchange-Traded Trust**

****Principal Executive Officer and President – Kristie Feinberg

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

****Treasurer – Salvatore Schiavone

------

## Ex-99.Cert

<u>CERTIFICATION</u>

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

1. I have reviewed this report on Form N-CSR of **John Hancock Variable Insurance Trust**;

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

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

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

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

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

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

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

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

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

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

Date: February 20, 2026

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

President, Principal Executive Officer

<u>CERTIFICATION</u>

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

1. I have reviewed this report on Form N-CSR of **John Hancock Variable Insurance Trust**;

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

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

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

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

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

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

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

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

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

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

Date: February 20, 2026

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

Chief Financial Officer, Principal Financial Officer

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## Exhibit 99.906

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

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

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

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

/s/ Kristie M. Feinberg

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

Kristie M. Feinberg

President, Principal Executive Officer Dated: February 20, 2026

/s/ Fernando A. Silva

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

Fernando A. Silva

Chief Financial Officer, Principal Financial Officer Dated: February 20, 2026

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

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

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