<SEC-DOCUMENT>0000928816-11-001313.txt : 20110928
<SEC-HEADER>0000928816-11-001313.hdr.sgml : 20110928
<ACCEPTANCE-DATETIME>20110928142710
ACCESSION NUMBER:		0000928816-11-001313
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20110731
FILED AS OF DATE:		20110928
DATE AS OF CHANGE:		20110928
EFFECTIVENESS DATE:		20110928

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JOHN HANCOCK INCOME SECURITIES TRUST
		CENTRAL INDEX KEY:			0000759866
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04186
		FILM NUMBER:		111111628

	BUSINESS ADDRESS:	
		STREET 1:		C/O JOHN HANCOCK FUNDS
		STREET 2:		601 CONGRESS STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		617-663-3000

	MAIL ADDRESS:	
		STREET 1:		C/O JOHN HANCOCK FUNDS
		STREET 2:		601 CONGRESS STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HANCOCK JOHN INCOME SECURITIES TRUST /MA
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>a_incomesecuritiestrust.htm
<DESCRIPTION>JOHN HANCOCK INCOME SECURITIES TRUST
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3>UNITED STATES</font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3>SECURITIES AND EXCHANGE COMMISSION</font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3>Washington, D.C. 20549</font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3><b>FORM N-Q</b></font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3><b>QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED</b></font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3><b>MANAGEMENT INVESTMENT COMPANIES</b></font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3>Investment Company Act file number </font><font face=serif size=3><u>811-4186</u></font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100% style="TEXT-INDENT:29px;"><font face=serif size=3><u>John Hancock Income Securities Trust</u></font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3>(Exact name of registrant as specified in charter)</font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3><u>601 Congress Street, Boston, Massachusetts 02210</u></font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3>(Address of principal executive offices) (Zip code)</font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3>Salvatore Schiavone</font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3>Treasurer</font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3>601 Congress Street</font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3><u>Boston, Massachusetts 02210</u></font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100% style="TEXT-INDENT:28px;"><font face=serif size=3>(Name and address of agent for service)</font>&nbsp;</td>
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  <td align=middle colspan=2 nowrap width=100%><font face=serif size=3>Registrant's telephone number, including area code: </font><font face=serif size=3><u>617-663-4497</u></font>&nbsp;</td>
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  <td align=left nowrap width=50%><font face=serif size=3>Date of fiscal year end:</font>&nbsp;</td>
 <td align=left nowrap width=50% style="TEXT-INDENT:35px;"><font face=serif size=3>October 31</font>&nbsp;</td>
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  <td colspan=2 width=100% style="TEXT-INDENT:35px;">&nbsp;</td>
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  <td align=left nowrap width=50%><font face=serif size=3>Date of reporting period:</font>&nbsp;</td>
 <td align=left nowrap width=50% style="TEXT-INDENT:35px;"><font face=serif size=3>July 31, 2011</font>&nbsp;</td>
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<p style="MARGIN:0px;">&nbsp;</p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>ITEM 1. SCHEDULE OF INVESTMENTS</font></p></div>

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<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust<br></b></font><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

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  <td width=39%>&nbsp;</td>
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  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Maturity</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Par value</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Rate (%)</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>date</b></font>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Corporate Bonds 78.31% (53.26% of Total Investments)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>$137,318,236</b></font>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>(Cost $128,741,165)</font>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Consumer Discretionary 10.35%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>18,140,186</b></font>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Auto Components 0.70%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>Allison Transmission, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$380,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>372,400</font>&nbsp;</td>
 </tr>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>Exide Technologies (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>280,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>285,600</font>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>Hyva Global BV (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/24/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>340,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>346,800</font>&nbsp;</td>
 </tr>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>Visteon Corp. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>220,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>215,600</font>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Automobiles 0.64%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>Hyundai Capital Services, Inc. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/05/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>430,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>476,810</font>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>Hyundai Capital Services, Inc. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/27/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>310,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>324,209</font>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>Kia Motors Corp. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>3.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/14/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>315,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>319,982</font>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Consumer Finance 0.61%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>Nissan Motor Acceptance Corp. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/30/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,000,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,066,473</font>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Food Products 0.15%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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 </tr>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>Simmons Foods, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/01/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>250,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>263,125</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
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  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Hotels, Restaurants &amp; Leisure 2.89%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>CCM Merger, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/01/13</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>485,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>482,575</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Downstream Development Authority of the Quapaw Tribe of</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Oklahoma (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/01/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>275,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>272,938</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Greektown Superholdings, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>13.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/01/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,713,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,916,419</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Jacobs Entertainment, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/15/14</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>600,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>609,000</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Little Traverse Bay Bands of Odawa Indians (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/31/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>319,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>281,518</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>MTR Gaming Group, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/15/14</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>185,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>193,788</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Palace Entertainment Holdings LLC/Palace Entertainment</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Holdings Corp. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>235,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>239,406</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Seminole Indian Tribe of Florida (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/01/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>325,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>334,750</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Seminole Indian Tribe of Florida (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.535</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/01/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>650,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>626,529</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Waterford Gaming LLC (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/15/14</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>239,604</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>108,361</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Household Durables 0.05%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>American Standard Americas (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>85,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>81,547</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Internet &amp; Catalog Retail 0.30%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Expedia, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.950</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>530,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>530,059</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Media 3.88%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>AMC Entertainment, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>140,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>148,750</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>CBS Corp.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/30/30</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>595,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>725,979</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>CCO Holdings LLC/CCO Holdings Capital Corp.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/30/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>145,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>159,138</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Cinemark USA, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>195,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>195,000</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Clear Channel Worldwide Holdings, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/15/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>410,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>445,875</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>DIRECTV Holdings LLC/DIRECTV Financing Company, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.350</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>220,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>239,454</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Grupo Televisa SA</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>310,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>340,430</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>News America, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/20/24</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,020,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,230,403</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>News America, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.600</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/11/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,000,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,155,434</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>News America, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.400</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/15/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>150,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>152,820</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>News America, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.150</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/01/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>165,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>165,456</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>News America, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.150</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/41</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>275,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>273,952</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Nexstar Broadcasting, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/14</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>84,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>83,790</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Nexstar Broadcasting, Inc., PIK</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/14</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>255,998</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>255,358</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Regal Cinemas Corp.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>115,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>123,625</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Regal Entertainment Group</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>100,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>105,500</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Time Warner Cable, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>605,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>720,743</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
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<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>1</font>&nbsp;</td>
 </tr>
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<hr align=center noshade size=2 width="100%">



<a name="page_3"></a><br>

<div style="PADDING-RIGHT:0%;PADDING-LEFT:0%;">

<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=39%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Maturity</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Par value</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Rate (%)</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>date</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Value</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Consumer Discretionary (continued)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>United Business Media, Ltd. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/03/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$275,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$280,326</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Multiline Retail 0.09%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Sears Holdings Corp. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>175,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>159,688</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Specialty Retail 0.42%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Empire Today LLC/Empire Today Finance Corp. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/01/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>165,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>166,238</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Hillman Group, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>210,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>228,375</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Hillman Group, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>95,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>103,313</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Limited Brands, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/01/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>230,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>238,050</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Textiles, Apparel &amp; Luxury Goods 0.62%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Burlington Coat Factory Warehouse Corp. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>590,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>591,475</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Levi Strauss &amp; Company (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>500,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>503,125</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Consumer Staples 2.87%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>5,032,287</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Food &amp; Staples Retailing 0.68%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>CVS Caremark Corp. (6.302% to 6-1-12, then 3 month</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>LIBOR + 2.065%) (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.302</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,230,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,199,250</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Food Products 1.16%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Bunge Ltd. Finance Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>364,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>452,482</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Bunge Ltd. Finance Corp.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.100</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>205,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>217,832</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Corp. Pesquera Inca SAC (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/10/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>340,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>355,725</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Del Monte Foods Company (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>235,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>241,756</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>JBS Finance II, Ltd. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/29/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>360,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>369,900</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Reddy Ice Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>380,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>390,450</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Personal Products 0.29%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Hypermarcas SA (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/20/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>150,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>151,200</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Revlon Consumer Products Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>335,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>364,313</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Tobacco 0.74%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Alliance One International, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/15/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,000,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>960,000</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Lorillard Tobacco Company (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/01/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>295,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>329,379</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Energy 7.79%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>13,657,679</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Energy Equipment &amp; Services 0.16%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Trinidad Drilling, Ltd. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>265,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>278,250</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Gas Utilities 0.31%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>DCP Midstream LLC (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>405,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>539,312</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Oil, Gas &amp; Consumable Fuels 7.32%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Alpha Natural Resources, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>270,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>279,450</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Alpha Natural Resources, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>125,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>128,906</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Arch Coal, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>270,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>283,500</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Arch Coal, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>160,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>167,600</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Chesapeake Energy Corp.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>240,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>250,800</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Energy Transfer Partners LP (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.700</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>330,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>427,992</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Enterprise Products Operating LLC (7.000% to 6-1-17, then 3</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>month LIBOR + 2.778%) (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/67</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>695,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>698,475</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Enterprise Products Operating LLC, Series B (7.034% to</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>1-15-18, then 3 month LIBOR + 2.680%) (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.034</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/68</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>590,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>621,713</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>EV Energy Partners LP/EV Energy Finance Corp. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>400,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>413,000</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Kerr-McGee Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.950</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/01/24</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>770,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>915,749</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Kinder Morgan Energy Partners LP (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/32</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>195,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>238,540</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Kinder Morgan Finance Company ULC</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.700</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/05/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>615,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>645,750</font>&nbsp;</td>
 </tr>
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<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

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 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Maturity</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Par value</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Rate (%)</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>date</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Value</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Energy (continued)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Marathon Petroleum Corp. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/01/41</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$280,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$300,143</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>MarkWest Energy Partners LP/MarkWest Energy Finance</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>495,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>516,038</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Niska Gas Storage US LLC/Niska Gas Storage Canada ULC</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>395,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>421,169</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>NuStar Logistics LP (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.650</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>845,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,027,514</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>OGX Petroleo e Gas Participacoes SA (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>400,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>421,600</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Petro-Canada (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,000,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,380,228</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Spectra Energy Capital LLC (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.200</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,000,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,155,559</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Thermon Industries, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/01/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>80,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>86,800</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>TransCanada Pipelines, Ltd. (6.350% to 5-15-17, then 3</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>month LIBOR + 2.210%) (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.350</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/15/67</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>490,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>502,343</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Williams Partners LP/Williams Partners Finance Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/01/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,620,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,957,248</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Financials 32.19%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>56,442,210</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Capital Markets 3.37%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Credit Suisse AG (3 month LIBOR + 0.690% to 5-15-17, then</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>3 month LIBOR + 1.690%) (Q)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>0.976</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/15/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>715,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>566,058</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Credit Suisse New York (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.300</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/13/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>415,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>447,649</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Credit Suisse New York (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/05/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>555,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>551,612</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Jefferies Group, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>165,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>198,435</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Jefferies Group, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>905,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>994,055</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Macquarie Bank, Ltd. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/07/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>260,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>268,533</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Macquarie Group, Ltd. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/14/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>340,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>343,844</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Morgan Stanley (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.300</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/13/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>485,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>557,855</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Morgan Stanley</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/25/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>140,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>147,437</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Morgan Stanley (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.550</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/27/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>500,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>536,939</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Morgan Stanley</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/28/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>150,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>154,672</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>The Goldman Sachs Group, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.150</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>760,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>837,492</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>The Goldman Sachs Group, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/27/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>300,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>306,356</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Commercial Banks 5.49%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Abbey National Treasury Services PLC</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/27/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>385,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>377,336</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Banco de Credito del Peru (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/16/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>175,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>177,844</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Barclays Bank PLC (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.050</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/04/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>295,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>308,688</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Barclays Bank PLC (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.140</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/14/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,930,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,844,254</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>BBVA Bancomer SA (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/10/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>485,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>501,975</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>BPCE SA (12.500% to 9-30-19, then 3 month LIBOR +</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>12.980%) (Q)(S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/30/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>330,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>382,586</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>First Tennessee Bank NA (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.050</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>405,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>427,249</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>ICICI Bank, Ltd. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/16/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>475,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>483,569</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Lloyds TSB Bank PLC (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/21/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>440,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>464,186</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>National City Bank (P)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>0.622</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/07/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>575,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>539,007</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Regions Financial Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/10/14</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,000,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,066,442</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Regions Financial Corp. (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>0.417</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/26/12</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>265,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>260,716</font>&nbsp;</td>
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<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Santander Holdings USA, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/19/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>115,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>118,901</font>&nbsp;</td>
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<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Santander Issuances SA (6.500% to 11-15-14, then 3 month</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>LIBOR + 3.920%) (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/11/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>600,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>595,436</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>The Chuo Mitsui Trust &amp; Banking Company, Ltd. (5.506% to</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>4-15-15, then 3 month LIBOR + 2.490%) (Q)(S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.506</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>940,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>949,400</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>The Royal Bank of Scotland PLC</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/16/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>330,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>342,669</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Wachovia Bank NA (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.600</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/38</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>325,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>374,611</font>&nbsp;</td>
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<p style="MARGIN:0px;">&nbsp;</p>

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<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
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  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Maturity</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Par value</b></font>&nbsp;</td>
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  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Rate (%)</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>date</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Value</b></font>&nbsp;</td>
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<tr>
  <td colspan=5 width=100%>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Financials (continued)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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   <hr noshade size=1>

&nbsp;</td>
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<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Wachovia Bank NA (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.850</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/01/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$390,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$407,058</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Consumer Finance 2.14%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Capital One Financial Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/15/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,000,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,179,320</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Capital One Financial Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.150</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/01/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>730,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>819,981</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Discover Bank (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>270,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>304,887</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Discover Financial Services (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>585,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>768,713</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Nelnet, Inc. (7.400% to 9-29-11, then 3 month LIBOR +</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>3.375%) (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.400</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/29/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>715,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>674,688</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Diversified Financial Services 9.84%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Astoria Depositor Corp., Series B (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.144</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/01/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,000,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>950,000</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Bank of America Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/01/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>305,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>341,994</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Bank of America NA</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/15/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>390,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>375,847</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Bank of America NA</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.300</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>150,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>155,063</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Beaver Valley II Funding (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>384,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>418,022</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Bosphorus Financial Services, Ltd. (P)(S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>2.061</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/12</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>93,750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>93,408</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Citigroup, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/21/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,935,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>2,171,008</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Citigroup, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.850</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/11/34</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>300,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>303,109</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Crown Castle Towers LLC (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.883</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>760,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>784,558</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>General Electric Capital Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/07/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>335,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>378,870</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>General Electric Capital Corp.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/14/38</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>390,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>400,980</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>General Electric Capital Corp.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.300</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/11/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>220,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>234,595</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>General Electric Capital Corp.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/16/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>365,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>370,946</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>GTP Acquisition Partners I LLC (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.628</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/15/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>325,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>333,125</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>GTP Acquisition Partners I LLC (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.347</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/15/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>435,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>443,798</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>GTP Towers Issuer LLC (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.112</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>885,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>939,239</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Harley-Davidson Funding Corp. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.800</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>300,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>348,070</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Harley-Davidson Funding Corp. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/15/14</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>290,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>319,353</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>JPMorgan Chase &amp; Company (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>765,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>867,565</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>JPMorgan Chase &amp; Company (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.600</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/15/41</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>575,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>579,336</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>JPMorgan Chase &amp; Company (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>3.700</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/20/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>295,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>308,463</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>JPMorgan Chase &amp; Company (7.900% to 4-30-18, then 3</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>month LIBOR + 3.470%) (Q)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.900</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/30/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>655,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>702,095</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Merrill Lynch &amp; Company, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/14/38</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>495,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>540,958</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Merrill Lynch &amp; Company, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/25/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,000,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,119,347</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Nationstar Mortgage/Nationstar Capital Corp. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/01/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>485,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>506,825</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Textron Financial Corp. (6.000% to 2-15-17, then 3 month</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>LIBOR + 1.735%) (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/67</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>750,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>641,250</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>The Bear Stearns Companies LLC (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,000,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,203,410</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Tomkins LLC/Tomkins, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>135,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>147,488</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>USB Realty Corp. (6.091% to 1-15-12, then 3 month LIBOR</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>+ 1.147%) (Q)(S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.091</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/12</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>800,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>681,000</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Woodside Finance, Ltd. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/10/14</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>550,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>594,745</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Insurance 5.62%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Aflac, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>385,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>486,355</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Aflac, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.900</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/17/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>230,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>248,176</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>AON Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.205</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/01/27</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>345,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>401,181</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>AXA SA (6.379% to 12-14-36, then 3 month LIBOR +</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>2.256%) (Q)(S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.379</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/14/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>175,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>147,000</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Chubb Corp. (6.375% until 4-15-17, then 3 month LIBOR +</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>2.250%)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/29/67</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>315,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>325,238</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>CNA Financial Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/15/23</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>540,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>614,279</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>CNA Financial Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/15/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>720,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>818,880</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>CNO Financial Group, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>375,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>404,063</font>&nbsp;</td>
 </tr>
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<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
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 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Maturity</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Par value</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Rate (%)</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>date</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Financials (continued)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
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   <hr noshade size=1>

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<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Glen Meadow Pass-Through Trust (6.505% to 2-15-17, then</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>3 month LIBOR +2.125%) (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.505</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/12/67</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$835,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$705,575</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Hartford Financial Services Group, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/30/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>225,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>236,223</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Liberty Mutual Group, Inc. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.800</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>705,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>712,050</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Lincoln National Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/01/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>535,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>694,530</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Lincoln National Corp. (6.050% until 4-20-17, then 3 month</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>LIBOR + 2.040%) (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.050</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/20/67</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>535,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>508,250</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>MetLife, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/01/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>150,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>213,000</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Teachers Insurance &amp; Annuity Association of America (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.850</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/16/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>605,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>713,940</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>The Hanover Insurance Group, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>150,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>154,153</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Unum Group (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/30/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>395,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>460,596</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>UnumProvident Finance Company PLC (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.850</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>605,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>686,217</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>W.R. Berkley Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.600</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>365,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>395,014</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Willis Group Holdings PLC (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>350,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>364,993</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Willis North America, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/29/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>495,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>560,686</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Real Estate Investment Trusts 5.61%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Brandywine Operating Partnership LP (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>345,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>399,844</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>CommonWealth REIT (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.650</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>480,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>544,216</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Developers Diversified Realty Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/01/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>625,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>722,122</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Dexus Property Group (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/15/14</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>495,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>559,416</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Duke Realty LP (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>265,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>327,977</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Duke Realty LP (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>590,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>674,490</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Goodman Funding Pty, Ltd. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>645,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>677,111</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Health Care REIT, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.200</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>505,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>572,247</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Health Care REIT, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>700,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>771,132</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Health Care REIT, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.950</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>400,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>407,611</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Healthcare Realty Trust, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/17/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>540,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>613,495</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Mack-Cali Realty LP (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>330,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>405,429</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>MPT Operating Partnership LP/MPT Finance Corp. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/01/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>230,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>225,400</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Post Apartment Homes LP</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/15/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>185,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>191,508</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Simon Property Group LP (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.350</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/01/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>345,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>486,395</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Ventas Realty LP/Ventas Capital Corp.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>390,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>396,154</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Vornado Realty LP (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/01/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>755,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>793,686</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>WEA Finance LLC/WT Finance Australia Pty, Ltd. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/02/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>290,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>335,953</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Weyerhaeuser Company (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/32</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>690,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>740,930</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Real Estate Management &amp; Development 0.12%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Realogy Corp. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>215,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>211,775</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Health Care 2.39%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>4,198,443</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Health Care Equipment &amp; Supplies 0.30%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Alere, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>185,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>190,550</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Alere, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/01/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>335,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>342,538</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Health Care Providers &amp; Services 1.06%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>BioScrip, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/01/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>285,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>297,825</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Community Health Systems, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>440,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>454,850</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Gentiva Health Services, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>70,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>72,450</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>HCA, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/22</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>380,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>385,700</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Medco Health Solutions, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>545,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>651,939</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Pharmaceuticals 1.03%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Catalent Pharma Solutions, Inc., PIK (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>425,756</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>434,271</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Endo Pharmaceuticals Holdings, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/22</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>390,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>409,500</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Hospira, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.050</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/30/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>485,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>560,407</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Valeant Pharmaceuticals International, Inc. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>315,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>305,550</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>5</font>&nbsp;</td>
 </tr>
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<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=39%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Maturity</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Par value</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Rate (%)</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>date</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Value</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Health Care (continued)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Valeant Pharmaceuticals International, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/01/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$95,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$92,863</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Industrials 6.95%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>12,194,563</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Aerospace &amp; Defense 0.87%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Bombardier, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>240,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>270,000</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Colt Defense LLC/Colt Finance Corp.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/15/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>250,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>218,750</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Ducommun, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>70,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>71,925</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Embraer Overseas, Ltd. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>380,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>416,100</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Huntington Ingalls Industries, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>295,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>304,588</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Kratos Defense &amp; Security Solutions, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>230,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>245,525</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Airlines 2.61%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>America West Airlines 2000-1 Pass Through Trust (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.057</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/02/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>189,240</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>196,809</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Continental Airlines 1998-1 Class A Pass Through Trust</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.648</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/15/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>196,662</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>209,209</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Continental Airlines 1999-1 Class A Pass Through Trust</font> <font face=sans-serif size=2>(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.545</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/02/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>211,274</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>222,113</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Continental Airlines 2000-2 Class B Pass Through Trust</font> <font face=sans-serif size=2>(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.307</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/02/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>158,596</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>158,802</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Continental Airlines 2007-1 Class A Pass Through Trust</font> <font face=sans-serif size=2>(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.983</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/19/22</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>535,065</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>550,474</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Delta Air Lines 2007-1 Class A Pass Through Trust (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.821</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/10/22</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>631,842</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>654,778</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Delta Air Lines 2010-1 Class A Pass Through Trust</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.200</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/02/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>212,235</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>223,517</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Delta Air Lines 2011-1 Class A Pass Through Trust</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.300</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>230,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>230,874</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Northwest Airlines 2002-1 Class G-2 Pass Through Trust (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.264</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/20/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>555,298</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>557,408</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Northwest Airlines 2007-1 Class A Pass Through Trust (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.027</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/01/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>415,624</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>423,937</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>United Air Lines 2009-1 Pass Through Trust</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.400</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/01/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>177,279</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>199,651</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>United Air Lines 2009-2A Pass Through Trust (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>404,651</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>459,278</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>United Airlines 2007-1 Class C Pass Through Trust (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>2.647</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/02/14</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>544,720</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>499,781</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Building Products 0.74%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Masco Corp.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>285,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>293,591</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Voto-Votorantim Overseas Trading Operations NV (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/25/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>450,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>481,500</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Voto-Votorantim, Ltd. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/05/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>490,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>526,750</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Commercial Services &amp; Supplies 0.53%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Garda World Security Corp. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>100,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>105,500</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>International Lease Finance Corp. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>290,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>308,850</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Steelcase, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>480,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>512,103</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Construction &amp; Engineering 0.18%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Tutor Perini Corp.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>335,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>322,438</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Electrical Equipment 0.12%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Coleman Cable, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>205,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>212,688</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Industrial Conglomerates 0.58%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Odebrecht Finance, Ltd. (Q)(S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/14/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>100,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>102,750</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Odebrecht Finance, Ltd. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/05/23</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>350,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>355,250</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Textron, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.600</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/01/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>505,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>552,329</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Machinery 0.18%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Pentair, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>300,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>310,589</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Marine 0.30%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Navios Maritime Holdings, Inc./Navios Maritime Finance II</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>U.S., Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>225,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>208,688</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Navios South American Logistics, Inc./Navios Logistics</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Finance (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>315,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>315,788</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Road &amp; Rail 0.62%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>The Hertz Corp. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>625,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>625,000</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>6</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

<hr align=center noshade size=2 width="100%">



<a name="page_8"></a><br>

<div style="PADDING-LEFT:0%;PADDING-RIGHT:0%;">

<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=39%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Maturity</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Par value</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Rate (%)</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>date</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Value</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Industrials (continued)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=2>&nbsp;</font></td>
 <td align=right nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Western Express, Inc. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$485,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$455,900</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Trading Companies &amp; Distributors 0.12%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Aircastle, Ltd.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>190,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>210,425</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Transportation Infrastructure 0.10%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Asciano Finance, Ltd. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/23/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>185,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>180,905</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Information Technology 0.81%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>1,415,075</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>IT Services 0.45%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Brightstar Corp. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/01/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>560,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>599,200</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Equinix, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>165,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>181,500</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Software 0.36%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Vangent, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>625,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>634,375</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Materials 6.90%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>12,095,335</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Chemicals 1.34%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>American Pacific Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/01/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>245,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>241,631</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Braskem America Finance Company (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.125</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/22/41</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>425,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>428,188</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Braskem Finance, Ltd. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/07/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>515,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>566,500</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Fufeng Group, Ltd. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/13/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>335,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>315,738</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Incitec Pivot Finance LLC (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/10/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>345,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>378,213</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Sterling Chemicals, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/01/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>400,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>424,000</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Construction Materials 0.27%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Building Materials Corp. of America (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/01/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>230,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>233,163</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Severstal Columbus LLC</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>100,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>110,750</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Vulcan Materials Company</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>130,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>130,448</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Containers &amp; Packaging 0.72%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Polymer Group, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/01/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>95,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>98,444</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Pretium Packaging LLC/Pretium Finance, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/01/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>165,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>168,300</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Temple-Inland, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>750,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>841,553</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>U.S. Corrugated, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/12/13</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>160,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>158,400</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Metals &amp; Mining 3.11%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Alcoa, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.400</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>255,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>265,172</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Allegheny Technologies, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>280,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>363,847</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Allegheny Technologies, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.950</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>140,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>153,809</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>ArcelorMittal (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.850</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>370,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>481,715</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>ArcelorMittal</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/01/41</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>280,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>285,854</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Cliffs Natural Resources, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/01/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>295,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>309,344</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Commercial Metals Company (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.350</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>310,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>334,675</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Gerdau Trade, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/30/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>330,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>336,188</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>JMC Steel Group (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>185,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>191,938</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Metinvest BV (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/14/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>435,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>450,791</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Rain CII Carbon LLC/CII Carbon Corp. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>555,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>577,200</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Suncoke Energy, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/01/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>259,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>265,475</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Teck Resources, Ltd. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>239,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>304,128</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Teck Resources, Ltd.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/15/41</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>155,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>166,044</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Thompson Creek Metals Company, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>155,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>153,644</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Vale Overseas, Ltd. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.875</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/10/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>320,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>369,565</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Winsway Coking Coal Holding, Ltd. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/08/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>470,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>441,800</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Paper &amp; Forest Products 1.46%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Georgia-Pacific LLC</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/28</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>165,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>190,897</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Georgia-Pacific LLC (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.400</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/01/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>800,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>846,581</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>7</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

<hr align=center noshade size=2 width="100%">



<a name="page_9"></a><br>

<div style="PADDING-LEFT:0%;PADDING-RIGHT:0%;">

<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=39%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Maturity</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Par value</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Rate (%)</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>date</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Value</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Materials (continued)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>International Paper Company (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$385,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$509,198</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Mercer International, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/01/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>67,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>71,523</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Verso Paper Holdings LLC/Verso Paper, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/01/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>100,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>92,750</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Westvaco Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.950</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/31</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>770,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>837,869</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Telecommunication Services 2.40%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>4,209,356</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Diversified Telecommunication Services 1.89%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Affinion Group Holdings, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>235,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>235,588</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Axtel SAB de CV (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/22/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>160,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>156,000</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>BellSouth Telecommunications, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.300</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>568,815</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>612,058</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>CenturyLink, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.600</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/15/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>305,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>307,157</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>CenturyLink, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.450</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>305,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>314,670</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Frontier Communications Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>635,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>696,913</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Qwest Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/01/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>330,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>391,050</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Telecom Italia Capital SA</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.721</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/04/38</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>260,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>259,754</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Telecom Italia Capital SA</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.200</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/18/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>365,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>345,724</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Wireless Telecommunication Services 0.51%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>America Movil SAB de CV (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/30/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>440,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>476,329</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Bakrie Telecom Pte, Ltd. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/07/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>405,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>414,113</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Utilities 5.66%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>9,933,102</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Electric Utilities 3.02%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>BVPS II Funding Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.890</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/01/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>517,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>593,278</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Commonwealth Edison Company (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.800</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>525,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>602,491</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Exelon Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.900</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>06/15/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>985,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,074,625</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>FPL Energy National Wind LLC (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.608</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/10/24</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>254,276</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>267,478</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>ITC Holdings Corp. (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>415,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>462,464</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Oncor Electric Delivery Company LLC (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/30/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>820,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>908,156</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>PNPP II Funding Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>9.120</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/30/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>273,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>303,101</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>PPL Capital Funding, Inc. (6.700% to 3-30-17, then 3 month</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>LIBOR + 2.665%) (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.700</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/30/67</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>525,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>517,387</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>TXU Corp. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.460</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/01/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>193,613</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>188,056</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>W3A Funding Corp.</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.090</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/02/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>386,792</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>386,660</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Energy Equipment &amp; Services 0.42%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>MidAmerican Energy Holdings Company (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.480</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/15/28</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>550,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>737,782</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Independent Power Producers &amp; Energy Traders 1.18%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Allegheny Energy Supply Company LLC (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/15/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>460,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>500,742</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Exelon Generation Company LLC</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/01/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>360,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>386,085</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Ipalco Enterprises, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/01/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>440,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>437,159</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>NRG Energy, Inc. (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/01/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>355,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>365,650</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>NRG Energy, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>7.625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/15/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>370,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>376,475</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Multi-Utilities 0.60%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Integrys Energy Group, Inc. (6.110% to 12-1-16, then 3</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>month LIBOR + 2.120%) (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.110</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/01/66</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>650,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>643,825</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Wisconsin Energy Corp. (6.250% to 5-15-17, then 3 month</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>LIBOR + 2.113%) (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/15/67</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>410,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>413,280</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Water Utilities 0.44%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Cia de Saneamento Basico do Estado de Sao Paulo (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.250</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/16/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>305,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>315,675</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Midwest Generation LLC, Series B (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>8.560</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/02/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>440,616</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>452,733</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>8</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

<hr align=center noshade size=2 width="100%">



<a name="page_10"></a><br>

<div style="PADDING-RIGHT:0%;PADDING-LEFT:0%;">

<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=39%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Maturity</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Par value</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Rate (%)</b></font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>date</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Value</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Convertible Bonds 0.20% (0.14% of Total Investments)</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>$354,020</b></font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left colspan=5 nowrap width=100%><font face=sans-serif size=2>

   <hr noshade size=1>

 </font></td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>(Cost $267,530)</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Consumer Discretionary 0.20%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>354,020</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Media 0.20%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>XM Satellite Radio, Inc. (S)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>7.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12/01/14</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$248,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>354,020</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Municipal Bonds 0.23% (0.16% of Total Investments)</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>$405,821</b></font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left colspan=5 nowrap width=100%><font face=sans-serif size=2>

   <hr noshade size=1>

 </font></td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>(Cost $347,902)</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>California 0.16%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>283,195</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>State of California</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>7.600</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11/01/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>225,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>283,195</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Illinois 0.07%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>122,626</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>State of Illinois</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5.100</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>06/01/33</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>135,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>122,626</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Term Loans (M) 1.28% (0.87% of Total Investments)</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>$2,236,896</b></font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left colspan=5 nowrap width=100%><font face=sans-serif size=2>

   <hr noshade size=1>

 </font></td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>(Cost $2,369,717)</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Consumer Discretionary 1.15%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>2,017,790</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Automobiles 0.28%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Chrysler Group LLC</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>6.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>05/24/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>500,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>486,563</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Hotels, Restaurants &amp; Leisure 0.69%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>CCM Merger, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>7.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>03/01/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>192,996</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>195,167</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>East Valley Tourist Development Authority</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>08/06/12</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>542,811</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>439,677</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Kalispel Tribal Economic Authority</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>7.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>02/25/17</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>600,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>586,500</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Media 0.18%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Vertis, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>11.750</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12/31/15</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>342,885</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>309,883</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Financials 0.13%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>219,106</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Real Estate Investment Trusts 0.13%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>iStar Financial, Inc.</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>7.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>06/30/14</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>220,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>219,106</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left colspan=2 nowrap width=54%><font face=sans-serif size=2><b>Capital Preferred Securities 2.43% (1.65% of Total Investments)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>$4,263,228</b></font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left colspan=5 nowrap width=100%><font face=sans-serif size=2>

   <hr noshade size=1>

 </font></td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>(Cost $4,224,481)</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Financials 2.43%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>4,263,228</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Capital Markets 0.73%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>State Street Capital Trust III (P)(Q)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5.237</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>09/19/11</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>520,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>519,828</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>State Street Capital Trust IV (P)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1.247</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>06/15/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>935,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>768,113</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Commercial Banks 1.37%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Fifth Third Capital Trust IV (6.500% to 4-15-17 then 3 month</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>LIBOR + 1.368%) (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>04/15/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>825,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>802,313</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>PNC Financial Services Group, Inc. (Q)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>6.750</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>08/01/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>215,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>213,656</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>PNC Preferred Funding Trust III (8.700% to 3-15-13, then 3</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>month LIBOR + 5.226%) (Q)(S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>8.700</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>03/15/13</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>835,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>874,394</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Sovereign Capital Trust VI (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>7.908</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>06/13/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>480,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>502,524</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Insurance 0.33%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>MetLife Capital Trust X (9.250% to 4-8-38 then 3 month</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>LIBOR + 5.540%) (S)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>9.250</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>04/08/38</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>175,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>217,000</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>ZFS Finance USA Trust II (6.450% to 6-15-16 then 3 month</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>LIBOR + 2.000%) (S)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>6.450</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12/15/65</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>360,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>365,400</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>9</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

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<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

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 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Maturity</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Par value</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Rate (%)</b></font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>date</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Value</b></font>&nbsp;</td>
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  <td colspan=5 width=100%>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2><b>U.S. Government &amp; Agency Obligations 40.64%</b></font>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2><b>(27.64% of Total Investments)</b></font>&nbsp;</td>
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 <td align=left nowrap width=16%>&nbsp;</td>
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 <td align=right nowrap width=15%><font face=sans-serif size=2><b>$71,254,883</b></font>&nbsp;</td>
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  <td align=left colspan=5 nowrap width=100%><font face=sans-serif size=2>

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  <td align=left nowrap width=39%><font face=sans-serif size=2>(Cost $70,345,638)</font>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2><b>U.S. Government 5.47%</b></font>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>9,582,267</b></font>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>U.S. Treasury Bonds</font>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Bond (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>4.750</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>02/15/41</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$1,710,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,890,618</font>&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>U.S. Treasury Notes</font>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
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  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Note (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>3.125</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>05/15/21</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5,935,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>6,100,052</font>&nbsp;</td>
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  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Note (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>2.125</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>02/29/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,095,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,141,793</font>&nbsp;</td>
 </tr>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>U.S. Treasury Strips, PO</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>2.907*</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11/15/30</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,020,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>449,804</font>&nbsp;</td>
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<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
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  <td align=left nowrap width=39%><font face=sans-serif size=2><b>U.S. Government Agency 35.17%</b></font>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>61,672,616</b></font>&nbsp;</td>
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&nbsp;</td>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>Federal Home Loan Mortgage Corp.</font>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>06/01/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>50,112</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>55,764</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10/01/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>105,062</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>116,910</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11/01/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>213,513</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>237,592</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12/01/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>97,956</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>109,003</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>04/01/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>2,465,088</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>2,743,086</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>03/01/41</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>6,107,289</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>6,529,687</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>4.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>09/01/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5,875,920</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5,975,332</font>&nbsp;</td>
 </tr>
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  <td align=left nowrap width=39%><font face=sans-serif size=2>Federal National Mortgage Association</font>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>15 Yr Pass Thru Ctf (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>4.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>06/01/24</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>3,976,731</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4,180,394</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>07/01/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>803,938</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>895,921</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>01/01/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>3,917,278</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4,361,800</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>03/01/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>234,522</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>260,841</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>06/01/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>322,154</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>359,013</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>5.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>02/01/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,873,377</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>2,042,483</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>5.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12/01/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5,530,654</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>6,012,617</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>5.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>06/01/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>992,920</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,077,275</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>5.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>06/01/38</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,912,812</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>2,074,720</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>5.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10/01/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4,328,576</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4,696,315</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>5.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>08/01/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>426,608</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>462,052</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>02/01/41</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>3,211,047</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>3,435,390</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>04/01/41</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>992,666</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,070,706</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>4.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10/01/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>3,458,472</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>3,621,878</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>4.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>08/01/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>6,952,532</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>7,076,200</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf (Z)</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>4.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10/01/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>3,482,324</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>3,543,922</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Government National Mortgage Association</font>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>30 Yr Pass Thru Ctf</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>5.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11/15/38</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>663,482</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>733,715</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left colspan=2 nowrap width=54%><font face=sans-serif size=2><b>Foreign Government Obligations 0.22% (0.15% of Total Investments)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>$386,121</b></font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left colspan=5 nowrap width=100%><font face=sans-serif size=2>

   <hr noshade size=1>

</font></td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>(Cost $368,311)</font>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>South Korea 0.22%</b></font>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>386,121</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Korea Development Bank</font>&nbsp;</td>
 <td align=right nowrap width=15% style="TEXT-INDENT:2px;"><font face=sans-serif size=2>4.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>09/09/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>370,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>386,121</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>10</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

<hr align=center noshade size=2 width="100%">



<a name="page_12"></a><br>

<div style="PADDING-LEFT:0%;PADDING-RIGHT:0%;">

<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=39%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Maturity</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Par value</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Rate (%)</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>date</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Value</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Collateralized Mortgage Obligations 13.43%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>(9.13% of Total Investments)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>$23,550,602</b></font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left colspan=5 nowrap width=100%><font face=sans-serif size=2>

   <hr noshade size=1>

 </font></td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>(Cost $25,296,265)</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Commercial &amp; Residential 10.65%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>18,676,886</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>American Home Mortgage Assets</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2006-6, Class XP IO</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>2.321</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/25/46</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$8,634,638</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>537,588</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>American Tower Trust</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2007-1A, Class D (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.957</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>865,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>925,507</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Banc of America Commercial Mortgage, Inc.</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2006-2, Class AM (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.766</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/10/45</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>595,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>605,805</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2006-4, Class AM</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.675</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/10/46</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>590,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>587,092</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Bear Stearns Adjustable Rate Mortgage Trust</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-1, Class B2 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>3.564</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>780,363</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>96,073</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Bear Stearns Alt-A Trust</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2004-12 1A1 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>0.537</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>758,936</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>668,214</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-3, Class B2 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>2.541</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>537,461</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>20,047</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Bear Stearns Commercial Mortgage Securities, Inc.</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2006-PW14, Class D (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.412</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/11/38</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>655,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>355,407</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Citigroup/Deutsche Bank Commercial Mortgage Trust</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-CD1, Class C (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.220</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/15/44</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>295,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>267,978</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Countrywide Alternative Loan Trust</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2006-OA12, Class X IO</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>2.656</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/20/46</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>13,769,383</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>922,790</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>First Horizon Alternative Mortgage Securities</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2004-AA5, Class B1 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>2.353</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12/25/34</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>407,697</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>51,387</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>GMAC Mortgage Loan Trust</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2004-AR2, Class 3A (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>3.266</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/19/34</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>902,424</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>818,335</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Greenwich Capital Commercial Funding Corp.</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2006-GG7, Class AM (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.881</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/10/38</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>595,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>610,809</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>GSR Mortgage Loan Trust</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2006-4F, Class 6A1</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>6.500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/25/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>2,728,366</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>2,096,629</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2004-9, Class B1 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>3.107</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/25/34</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>795,319</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>305,972</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Harborview Mortgage Loan Trust</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2004-11, Class X1 IO</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>2.169</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/19/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4,710,517</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>346,185</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-11, Class X IO</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>2.282</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/19/45</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>3,099,314</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>143,633</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-2, Class X IO</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>2.369</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/19/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>13,132,625</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>724,300</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-8, Class 1X IO</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>2.375</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/19/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5,262,255</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>265,904</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2007-3, Class ES IO</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>0.350</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/19/47</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12,676,634</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>83,665</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2007-4, Class ES IO</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>0.350</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/19/47</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>15,917,189</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>87,226</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2007-6, Class ES IO</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>0.342</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/19/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10,685,963</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>68,818</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>IndyMac Index Mortgage Loan Trust</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2004-AR13, Class B1</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.296</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>01/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>313,522</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>29,241</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-AR18, Class 1X IO</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>2.147</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/25/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10,663,832</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>535,004</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-AR18, Class 2X IO</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>1.836</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/25/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>9,981,634</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>495,488</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-AR5, Class B1 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>2.627</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>316,002</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4,727</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>JPMorgan Chase Commercial Mortgage Securities Corp.</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2006-LDP7, Class AM (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.880</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>04/15/45</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>535,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>547,837</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>LB-UBS Commercial Mortgage Trust</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2007-C1, Class AM</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.455</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/15/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>850,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>840,132</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>MLCC Mortgage Investors, Inc.</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2006-3, Class 2A1 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4.289</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10/25/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>731,724</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>665,761</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2007-3, Class M1 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.385</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/25/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>290,743</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>183,148</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2007-3, Class M2 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.385</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/25/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>107,299</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>62,569</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2007-3, Class M3 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.385</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/25/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>72,687</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>31,635</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Morgan Stanley Capital I</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2008-HQ8, Class AM (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.466</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/12/44</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,020,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,048,757</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>11</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

<hr align=center noshade size=2 width="100%">



<a name="page_13"></a><br>

<div style="PADDING-RIGHT:0%;PADDING-LEFT:0%;">

<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=39%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Maturity</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Par value</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Rate (%)</b></font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>date</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Value</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Commercial &amp; Residential (continued)</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Provident Funding Mortgage Loan Trust</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-1, Class B1 (P)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>2.670</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>05/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$390,936</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$65,286</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Thornburg Mortgage Securities Trust</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2004-1, Class II2A (P)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1.754</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>03/25/44</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>837,693</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>746,116</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>WaMu Mortgage Pass Through Certificates</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2004-AR13, Class X IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1.535</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11/25/34</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12,485,791</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>631,274</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-AR1, Class X IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1.624</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>01/25/45</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>18,463,812</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>870,632</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-AR12, Class 1A2 (P)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>2.718</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>254,127</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>244,145</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-AR4, Class B1 (P)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>2.580</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>04/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,451,983</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>321,677</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-AR8, Class X IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1.755</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>07/25/45</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>15,365,631</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>764,093</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>U.S. Government Agency 2.78%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>4,873,716</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Federal Home Loan Mortgage Corp.</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 3747, Class HI IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>07/15/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>6,655,944</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,043,064</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 3794, Class PI IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>02/15/38</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,145,924</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>182,527</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Federal National Mortgage Association</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2009-47, Class EI IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>08/25/19</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>960,234</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>111,250</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2010-68, Class CI IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11/25/38</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,483,997</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>257,760</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 398, Class C3 IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>05/25/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,528,636</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>313,154</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 401, Class C2 IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>06/25/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>959,881</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>190,468</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 402, Class 3 IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11/25/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,165,573</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>270,728</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 402, Class 4 IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10/25/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>2,034,637</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>415,677</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 402, Class 7 IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11/25/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,791,395</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>395,338</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 402, Class 8 IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11/25/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>2,130,148</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>467,702</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 407, Class 15 IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>01/25/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,553,101</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>350,114</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 407, Class 16 IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>01/25/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>402,817</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>100,986</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 407, Class 17 IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>01/25/40</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>328,260</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>82,951</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 407, Class 21 IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>01/25/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,434,694</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>251,896</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 407, Class 7 IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>03/25/41</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>507,287</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>109,638</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 407, Class 8 IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5.000</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>03/25/41</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>484,367</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>121,625</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Government National Mortgage Association</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2010-78, Class AI IO</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4.500</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>04/20/39</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,683,959</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>208,838</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left colspan=2 nowrap width=54%><font face=sans-serif size=2><b>Asset Backed Securities 4.43% (3.01% of Total Investments)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>$7,768,990</b></font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left colspan=5 nowrap width=100%><font face=sans-serif size=2>

   <hr noshade size=1>

 </font></td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>(Cost $7,944,739)</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Asset Backed Securities 4.43%</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>7,768,990</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Bravo Mortgage Asset Trust</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2006-1A, Class A2 (P)(S)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>0.427</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>07/25/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>631,252</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>526,927</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Carrington Mortgage Loan Trust</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-OPT2, Class M2 (P)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>0.637</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>05/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>435,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>394,142</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Citigroup Mortgage Loan Trust</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2006-WFH3, Class A3 (P)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>0.337</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>10/25/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>746,516</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>693,547</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>ContiMortgage Home Equity Loan Trust</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 1995-2, Class A-5</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>8.100</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>08/15/25</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>37,324</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>36,974</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>FUEL Trust (S)</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2011-1</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>4.207</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>04/15/16</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>150,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>152,598</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Leaf Capital Funding SPE A LLC</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2010-A, Class B (P)(S)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>5.187</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>165,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>165,000</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2010-A, Class C (P)(S)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>7.187</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>333,088</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>333,088</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2010-A, Class D (P)(S)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10.187</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>240,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>240,000</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2010-A, Class E1 (P)(S)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>14.687</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12/15/20</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>292,526</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>292,526</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Leaf II Receivables Funding LLC</font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2011-1, Class A (S)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1.700</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12/20/18</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>444,807</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>434,933</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>12</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

<hr align=center noshade size=2 width="100%">



<a name="page_14"></a><br>

<div style="PADDING-RIGHT:0%;PADDING-LEFT:0%;">

<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=39%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Maturity</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Par value</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Rate (%)</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>date</b></font>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Value</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Asset Backed Securities (continued)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Mastr Asset Backed Securities Trust</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2007-HE2, Class A2 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>0.887</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>08/25/37</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$633,529</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>$563,219</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Merrill Lynch Mortgage Investors, Inc.</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-HE2, Class A2C (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>0.557</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/25/36</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>670,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>586,778</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-WMC1, Class M1 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>0.687</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>09/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>348,750</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>322,010</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>New Century Home Equity Loan Trust</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-3, Class M1 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>0.667</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>07/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>305,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>264,006</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Novastar Home Equity Loan</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2004-4, Class M3 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>1.267</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>03/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>645,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>586,476</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Park Place Securities, Inc.</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2004-WHQ2, Class M2 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>0.817</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>02/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>915,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>740,116</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Residential Asset Securities Corp.</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2005-KS4, Class M1 (P)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>0.597</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/25/35</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>885,403</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>811,268</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Sonic Capital LLC</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>Series 2011-1A, Class A2 (S)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>5.438</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>05/20/41</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>616,900</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>625,382</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Shares</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Value</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp; </td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Common Stocks 2.55% (1.73% of Total Investments)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>$4,470,883</b></font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left colspan=5 nowrap width=100%><font face=sans-serif size=2>

   <hr noshade size=1>

 </font></td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>(Cost $4,532,738)</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Consumer Discretionary 0.03%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>61,440</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Hotels, Restaurants &amp; Leisure 0.03%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Greektown Superholdings, Inc. (I)</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>768</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>61,440</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Consumer Staples 0.41%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>711,700</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Tobacco 0.41%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Philip Morris International, Inc. (Z)</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>10,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>711,700</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Energy 0.34%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>588,480</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Oil, Gas &amp; Consumable Fuels 0.34%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Royal Dutch Shell PLC, ADR (Z)</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>8,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>588,480</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Health Care 0.68%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>1,186,136</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Pharmaceuticals 0.68%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Eli Lilly &amp; Company</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>17,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>651,100</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Johnson &amp; Johnson (Z)</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>8,258</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>535,036</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Information Technology 0.33%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>580,580</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Semiconductors &amp; Semiconductor Equipment 0.33%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Intel Corp. (Z)</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>26,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>580,580</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Materials 0.43%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>762,227</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Containers &amp; Packaging 0.43%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Rock-Tenn Company, Class A (Z)</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>12,402</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>762,227</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2><b>Telecommunication Services 0.33%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>580,320</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=1><b>Diversified Telecommunication Services 0.33%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=39%><font face=sans-serif size=2>Telefonica SA, ADR</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>26,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>580,320</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>13</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

<hr align=center noshade size=2 width="100%">



<a name="page_15"></a><br>

<div style="PADDING-RIGHT:0%;PADDING-LEFT:0%;">

<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=69%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>Shares</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Value</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=3 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2><b>Preferred Securities 3.32% (2.26% of Total Investments)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>$5,831,016</b></font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left colspan=3 nowrap width=100%><font face=sans-serif size=2>

   <hr noshade size=1>

 </font></td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2>(Cost $5,960,344)</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=69%><font face=sans-serif size=2><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2><b>Consumer Discretionary 0.68%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>1,199,280</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=3 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=1><b>Hotels, Restaurants &amp; Leisure 0.68%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2>Greektown Superholdings, Inc., Series A (I)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>14,991</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,199,280</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=69%><font face=sans-serif size=2><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2><b>Consumer Staples 0.65%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>1,146,093</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=3 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=1><b>Food &amp; Staples Retailing 0.65%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2>Ocean Spray Cranberries, Inc., Series A, 6.250% (S)(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>12,500</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,146,093</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=69%><font face=sans-serif size=2><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2><b>Energy 0.18%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>305,963</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=3 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=1><b>Oil, Gas &amp; Consumable Fuels 0.18%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2>Apache Corp., Series D, 6.000%</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>4,697</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>305,963</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=69%><font face=sans-serif size=2><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2><b>Financials 1.81%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>3,179,680</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=3 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=1><b>Consumer Finance 0.16%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2>Ally Financial, Inc., 7.300%</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>11,815</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>276,471</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=69%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=1><b>Diversified Financial Services 0.30%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2>Citigroup Capital XIII (7.875% to 10-30-15, then 3 month LIBOR +</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>6.370%)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>3,900</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>105,573</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2>GMAC Capital Trust I (8.125% to 2-15-16, then 3 month LIBOR +</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>5.785%)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>16,350</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>418,886</font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left nowrap width=69%><font face=sans-serif size=1><b>&nbsp;</b></font></td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=1><b>Real Estate Investment Trusts 1.35%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2>Apartment Investment &amp; Management Company, Series T, 8.000%</font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69% style="TEXT-INDENT:12px;"><font face=sans-serif size=2>(Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>55,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>1,384,350</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2>Public Storage, Inc., Depositary Shares, Series W, 6.500% (Z)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=2>40,000</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2>994,400</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=3 width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2><b>Total investments (Cost $250,398,830)&#8224; 147.04%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>$257,840,696</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=3 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2><b>Other assets and liabilities, net (47.04%)</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>($82,491,144)</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=3 width=100%>

   <hr noshade size=1>

&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=69%><font face=sans-serif size=2><b>Total net assets 100.00%</b></font>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=2><b>$175,349,552</b></font>&nbsp;</td>
 </tr>
<tr height=20>
  <td align=left colspan=3 nowrap width=100%><font face=sans-serif size=2><b>

   <hr noshade size=1>

</b></font><font face=sans-serif size=2><b>&nbsp; </b></font></td>
 </tr>
</table></div>

<p style="MARGIN:0px;"><font face=sans-serif size=2><br>The percentage shown for each investment category is the total value of that category as a percentage of the net assets of the Fund.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>ADR American Depositary Receipts</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>IO Interest Only Security - Interest Tranche of Stripped Mortgage Pool</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>PO Principal-Only Security - Principal Tranche of Stripped Mortgage Pool</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>LIBOR London Interbank Offered Rate</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>PIK Payment-in-kind</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(I) Non-income producing security.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(M) Term loans are variable rate obligations. The coupon rate shown represents the rate at period end unless the investment is unsettled.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(P) Variable rate obligation. The coupon rate shown represents the rate at period end.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(Q) Perpetual bonds have no stated maturity date. Date shown is next call date.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(S) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $49,072,042 or 27.99% of the Fund's net assets as of 7-31-11.</font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>14</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

<hr align=center noshade size=2 width="100%">



<a name="page_16"></a><br>

<div style="PADDING-RIGHT:0%;PADDING-LEFT:0%;">

<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(Z) All or a portion of this security is pledged as collateral pursuant to the Committed Facility Agreement. Total collateral value at 7-31-11 was $193,289,962.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>* Yield represents the annualized yield at the date of purchase.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>&#8224; At 7-31-11, the aggregate cost of investment securities for federal income tax purposes was $250,924,759. Net unrealized appreciation aggregated $6,915,937, of which $14,812,447 related to appreciated investment securities and $7,896,510 related to depreciated investment securities.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>The Fund had the following country concentration as a percentage of investments on 07-31-11.</font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=25%>&nbsp;</td>
 <td width=25%>&nbsp;</td>
 <td width=25%>&nbsp;</td>
 <td width=25%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%><font face=sans-serif size=2>United States</font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=2>90%</font>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%><font face=sans-serif size=2>United Kingdom</font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=2>1%</font>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%><font face=sans-serif size=2>Brazil</font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=2>1%</font>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%><font face=sans-serif size=2>Canada</font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=2>1%</font>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%><font face=sans-serif size=2>Cayman Islands</font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=2>1%</font>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%><font face=sans-serif size=2>Netherland</font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=2>1%</font>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%><font face=sans-serif size=2>Australia</font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=2>1%</font>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%><font face=sans-serif size=2>Luxembourg</font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=2>1%</font>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%><font face=sans-serif size=2>Switzerland</font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=2>1%</font>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%><font face=sans-serif size=2>South Korea</font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=2>1%</font>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%><font face=sans-serif size=2>Other Countries</font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=2>1%</font>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 <td align=right nowrap width=25%>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>15</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

<hr align=center noshade size=2 width="100%">



<a name="page_17"></a><br>

<div style="PADDING-RIGHT:0%;PADDING-LEFT:0%;">

<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2><b>Notes to the Schedule of Investments</b></font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2><b>Security valuation. </b></font><font face=sans-serif size=2>Investments are stated at value as of the close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 </font><font face=sans-serif size=1>P</font><font face=sans-serif size=2>.</font><font face=sans-serif size=1>M</font><font face=sans-serif size=2>., Eastern Time. The Fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities. Level 2 includes securities valued using 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 Fund&#8217;s own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>The following is a summary of the values by input classification of the Fund&#8217;s investments as of July 31, 2011</font><font face=sans-serif size=2><i>, </i></font><font face=sans-serif size=2>by major security category or type:</font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td align=middle width=20%>&nbsp;</td>
 <td align=middle width=20%>&nbsp;</td>
 <td align=middle width=20%>&nbsp;</td>
 <td align=middle width=20%>&nbsp;</td>
 <td align=middle width=20%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=20%>&nbsp;</td>
 <td align=middle nowrap width=20%>&nbsp;</td>
 <td align=middle nowrap width=20%>&nbsp;</td>
 <td align=middle nowrap width=20%><font face=sans-serif size=1><b>Level 2</b></font>&nbsp;</td>
 <td align=middle nowrap width=20%><font face=sans-serif size=1><b>Level 3</b></font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=20%>&nbsp;</td>
 <td align=middle nowrap width=20% style="TEXT-INDENT:2px;"><font face=sans-serif size=1><b>Total Market</b></font>&nbsp;</td>
 <td align=middle nowrap width=20%>&nbsp;</td>
 <td align=middle nowrap width=20%><font face=sans-serif size=1><b>Significant</b></font>&nbsp;</td>
 <td align=middle nowrap width=20%><font face=sans-serif size=1><b>Significant</b></font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=20%>&nbsp;</td>
 <td align=middle nowrap width=20%><font face=sans-serif size=1><b>Value at</b></font>&nbsp;</td>
 <td align=middle nowrap width=20%><font face=sans-serif size=1><b>Level 1 Quoted</b></font>&nbsp;</td>
 <td align=middle nowrap width=20%><font face=sans-serif size=1><b>Observable</b></font>&nbsp;</td>
 <td align=middle nowrap width=20%><font face=sans-serif size=1><b>Unobservable</b></font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=20%>&nbsp;</td>
 <td align=middle nowrap width=20%><font face=sans-serif size=1><b>07-31-11</b></font>&nbsp;</td>
 <td align=middle nowrap width=20%><font face=sans-serif size=1><b>Price</b></font>&nbsp;</td>
 <td align=middle nowrap width=20%><font face=sans-serif size=1><b>Inputs</b></font>&nbsp;</td>
 <td align=middle nowrap width=20%><font face=sans-serif size=1><b>Inputs</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Corporate Bonds</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>$137,318,236</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>$136,436,832</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>$881,404</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Convertible Bonds</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>354,020</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>354,020</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Municipal Bonds</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>405,821</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>405,821</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Term Loans</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>2,236,896</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>2,236,896</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Capital Preferred Securities</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>4,263,228</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>4,263,228</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>U.S. Government &amp; Agency</font>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Obligations</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>71,254,883</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>71,254,883</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Foreign Government</font>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Obligations</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>386,121</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>386,121</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Collateralized Mortgage</font>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Obligations</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>23,550,602</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>23,161,375</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>389,227</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Asset Backed Securities</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>7,768,990</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>6,738,376</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>1,030,614</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Common Stocks</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>4,470,883</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>$4,409,443</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>61,440</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Preferred Securities</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>5,831,016</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>3,485,643</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>2,345,373</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1><b>Total Investments in Securities</b></font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1><b>$257,840,696</b></font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1><b>$7,895,086</b></font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1><b>$247,644,365</b></font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1><b>$2,301,245</b></font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1><b>Other Financial Instruments:</b></font>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 <td align=left nowrap width=20%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=20%><font face=sans-serif size=1>Futures</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>($112,092)</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>($112,092</font><font face=sans-serif size=1><b>)</b></font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 <td align=right nowrap width=20%><font face=sans-serif size=1>&#8212;</font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=5 width=100%>

   <hr noshade size=1>

</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. During the period ended July 31, 2011, there were no significant transfers in or out of Level 1 or Level 2 assets.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. Transfers in or out of Level 3 represent the beginning value of any security or instrument where a change in the level has occurred from the beginning to the end of the period.</font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>16</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

<hr align=center noshade size=2 width="100%">



<a name="page_18"></a><br>

<div style="PADDING-RIGHT:0%;PADDING-LEFT:0%;">

<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=14%>&nbsp;</td>
 <td width=14%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=14%>&nbsp;</td>
 <td width=15%>&nbsp;</td>
 <td width=14%>&nbsp;</td>
 <td width=14%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=14%>&nbsp;</td>
 <td align=left nowrap width=14%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Collateralized</b></font>&nbsp;</td>
 <td align=left nowrap width=14%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=14%>&nbsp;</td>
 <td align=left nowrap width=14%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=14%>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1><b>Asset-Backed</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Mortgage</b></font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1><b>Corporate</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Common</b></font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1><b>Preferred</b></font>&nbsp;</td>
 <td align=left nowrap width=14%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=14%>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1><b>Securities</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Obligations</b></font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1><b>Bonds</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>Stocks</b></font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1><b>Securities</b></font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1><b>Total</b></font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=14%><font face=sans-serif size=1>Balance as of 10-31-10</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>$1,269,712</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>$318,165</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>$84,924</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>$1,657,686</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>$3,330,487</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=14%><font face=sans-serif size=1>Realized gain (loss)</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>(320,128)</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>406</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>(319,722)</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=14%><font face=sans-serif size=1>Change in unrealized appreciation</font>&nbsp;</td>
 <td align=left nowrap width=14%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=14%>&nbsp;</td>
 <td align=left nowrap width=15%>&nbsp;</td>
 <td align=left nowrap width=14%>&nbsp;</td>
 <td align=left nowrap width=14%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=14%><font face=sans-serif size=1>(depreciation)</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>333,754</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>(32,628)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>301,126</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=14%><font face=sans-serif size=1>P</font><font face=sans-serif size=1>urchases</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>$1,030,614</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>300,333</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>613,263</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>1,944,210</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=14%><font face=sans-serif size=1>S</font><font face=sans-serif size=1>ales</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>(21,909)</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>(17,802)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>(39,711)</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=14%><font face=sans-serif size=1>Transfers Into Level 3</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=14%><font face=sans-serif size=1>Transfers out of Level 3</font>&nbsp;</td>
 <td align=left nowrap width=14%>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>(1,172,535)</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>(84,924)</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>(1,657,686)</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>(2,915,145)</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=14%><font face=sans-serif size=1><b>Balance as of 7-31-11</b></font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1><b>$1,030,614</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1><b>$389,227</b></font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1><b>$881,404</b></font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1><b>$2,301,245</b></font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=14%><font face=sans-serif size=1>Change in unrealized at period end*</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>$13,626</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>($32,628)</font>&nbsp;</td>
 <td align=right nowrap width=15%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>-</font>&nbsp;</td>
 <td align=right nowrap width=14%><font face=sans-serif size=1>($19,002)</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>*Change in unrealized appreciation (depreciation) attributable to Level 3 securities held at the period end.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>In order to value the securities, the Fund uses the following valuation techniques. Equity securities, including exchange-traded funds, held by the Fund are valued at the last sale price or official closing price on the principal securities exchange on which they trade. In the event there were no sales during the day or closing prices are not available, then securities are valued using the last quoted bid or evaluated price. Debt obligations are valued based on the evaluated prices provided by an independent pricing service, which utilizes both dealer-supplied and electronic data processing techniques, taking into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data. Certain securities traded only in the over-the-counter market are valued at the last bid price quoted by brokers making markets in the securities at the close of trading. Other portfolio securities and assets, where market quotations are not readily available, are valued at fair value, as determined in good faith by the Fund&#8217;s Pricing Committee, following procedures established by the Board of Trustees.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2><b>Term loans (Floating rate loans). </b></font><font face=sans-serif size=2>The Fund may invest in term loans, which often include debt securities that are rated below investment grade at the time of purchase. Term loans are generally subject to legal or contractual restrictions on resale. The liquidity of term loans, including the volume and frequency of secondary market trading in such loans, varies significantly over time and among individual loans. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>A Fund&#8217;s ability to receive payments of principal, interest and other amounts in connection with term loans will depend primarily on the financial condition of the borrower. A Fund&#8217;s failure to receive scheduled payments on a term loan due to a default, bankruptcy or other reason, would adversely affect the Fund&#8217;s income and would likely reduce the value of its assets. Because many term loans are not rated by independent credit rating agencies, a decision to invest in a particular loan could depend exclusively on the subadviser&#8217;s credit analysis of the borrower and/or term loan agents. A Fund may have limited rights to enforce the terms of an underlying loan.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2><b>Stripped securities. </b></font><font face=sans-serif size=2>Stripped mortgage backed securities are financial instruments structured to separate principal and interest cash flows so that one class receives the entire principal from the underlying mortgage assets (PO or principal only), while the other class receives the interest cash flows (IO or interest only). Both PO and IO investments represent an interest in the cash flows of an underlying stripped mortgage backed security. If the underlying mortgage assets experience greater than anticipated prepayments of principal, the Fund may fail to fully recover its initial investment in an IO security. The market value of these securities can be extremely volatile in response to changes in interest rates. In addition, these securities present additional</font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=100%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>17</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

<hr align=center noshade size=2 width="100%">



<a name="page_19"></a><br>

<div style="PADDING-RIGHT:0%;PADDING-LEFT:0%;">

<p style="TEXT-ALIGN:left;"><font face=serif size=5><b>John Hancock Income Securities Trust</b></font><br><font face=serif size=3><b>As of 7-31-11 (Unaudited)</b></font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>credit risk such that the Fund may not receive all or part of its principal or interest payments because the borrower or issuer has defaulted on its obligation.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2><b>Futures. </b></font><font face=sans-serif size=2>A futures contract is a contractual agreement to buy or sell a particular commodity, currency, or financial instrument at a pre-determined price in the future. Risks related to the use of futures contracts include possible illiquidity of the futures markets, contract prices that can be highly volatile and imperfectly correlated to movements in hedged security values and/or interest rates. Futures contracts are valued at the quoted daily settlement prices established by the exchange on which they trade.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>During the period ended July 31, 2011, the Fund used futures contracts to manage the duration of the portfolio. The following table summarizes the contracts held at July 31, 2011. During the period ended July 31, 2011, the Fund held futures contracts with absolute notional values ranging from $7.2 million to $12.5 million, as measured at each quarter end.</font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=17%>&nbsp;</td>
 <td width=17%>&nbsp;</td>
 <td width=17%>&nbsp;</td>
 <td width=17%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>UNREALIZED</b></font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=17%>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1><b>NUMBER OF</b></font>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1><b>EXPIRATION</b></font>&nbsp;</td>
 <td align=middle nowrap width=16%><font face=sans-serif size=1><b>NOTIONAL</b></font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>APPRECIATION</b></font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=17%><font face=sans-serif size=1><b>OPEN CONTRACTS</b></font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1><b>CONTRACTS</b></font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1><b>POSITION</b></font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1><b>DATE</b></font>&nbsp;</td>
 <td align=middle nowrap width=16%><font face=sans-serif size=1><b>VALUE (USD)</b></font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>(DEPRECIATION)</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=6 width=100%>

   <hr noshade size=1>

</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=17%><font face=sans-serif size=1>U.S. Treasury 30-Year Bond</font>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=17%><font face=sans-serif size=1>Futures</font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1>10</font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1>Long</font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1>Sept 2011</font>&nbsp;</td>
 <td align=middle nowrap width=16%><font face=sans-serif size=1>$1,281,250</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1>$41,378</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=17%><font face=sans-serif size=1>U.S. Treasury Ultra Long Bond</font>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=17%><font face=sans-serif size=1>Futures</font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1>11</font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1>Long</font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1>Sept 2011</font>&nbsp;</td>
 <td align=middle nowrap width=16%><font face=sans-serif size=1>1,451,313</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1>36,990</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=17%><font face=sans-serif size=1>U.S. Treasury 10-Year Note</font>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=17%><font face=sans-serif size=1>Futures</font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1>52</font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1>Short</font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1>Sept 2011</font>&nbsp;</td>
 <td align=middle nowrap width=16%><font face=sans-serif size=1>(6,535,750)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1>(108,751)</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=17%><font face=sans-serif size=1>U.S. Treasury 5-Year Note</font>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=17%><font face=sans-serif size=1>Futures</font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1>27</font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1>Short</font>&nbsp;</td>
 <td align=middle nowrap width=17%><font face=sans-serif size=1>Sept 2011</font>&nbsp;</td>
 <td align=middle nowrap width=16%><font face=sans-serif size=1>(3,279,023)</font>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1>(81,709)</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=17%><font face=sans-serif size=1><b>Total</b></font>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=17%>&nbsp;</td>
 <td align=left nowrap width=16%>&nbsp;</td>
 <td align=right nowrap width=16%><font face=sans-serif size=1><b>($112,092)</b></font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2><b>Fair value of derivative instruments by risk category</b></font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>The table below summarizes the fair value of derivatives held by the Fund at July 31, 2011 by risk category:</font></p>

<div align=left>

<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=25%>&nbsp;</td>
 <td width=25%>&nbsp;</td>
 <td width=25%>&nbsp;</td>
 <td width=25%>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%>&nbsp;</td>
 <td align=left nowrap width=25%>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=1><b>ASSET</b></font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=1><b>LIABILITY</b></font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%>&nbsp;</td>
 <td align=left nowrap width=25%>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=1><b>DERIVATIVES FAIR</b></font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=1><b>DERIVATIVES FAIR</b></font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%><font face=sans-serif size=1><b>RISK</b></font>&nbsp;</td>
 <td align=left nowrap width=25%><font face=sans-serif size=1><b>FINANCIAL INSTRUMENTS LOCATION</b></font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=1><b>VALUE</b></font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=1><b>VALUE</b></font>&nbsp;</td>
 </tr>
<tr>
  <td colspan=4 width=100%>

   <hr noshade size=1>

</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=25%><font face=sans-serif size=1>Interest rate contracts</font>&nbsp;</td>
 <td align=left nowrap width=25%><font face=sans-serif size=1>Futures</font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=1>$78,368</font>&nbsp;</td>
 <td align=right nowrap width=25%><font face=sans-serif size=1>($190,460)</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.</font></p>

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<table cellspacing=0 border=0 style="WIDTH:80%;">
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  <td width=100%>&nbsp;</td>
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<tr valign=bottom>
  <td align=middle nowrap width=100%><font face=serif size=2>18</font>&nbsp;</td>
 </tr>
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<p style="MARGIN:0px;">&nbsp;</p></div>

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<div style="PADDING-LEFT:0%;PADDING-RIGHT:0%;WIDTH:100%;">
<p style="text-align:left;">
<font face="sans-serif" size=2>ITEM 2. CONTROLS AND PROCEDURES.</font></p>
<p style="text-align:left;">
<font face="sans-serif" size=2>(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-Q, the registrant's principal executive officer and principal accounting 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.</font></p>
<p style="text-align:left;">
<font face="sans-serif" size=2>(b) There were no changes in the registrant's internal control over financial reporting that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.</font></p>
<p style="text-align:left;">
<font face="sans-serif" size=2>ITEM 3. EXHIBITS.</font></p>
<p style="text-align:left;">
<font face="sans-serif" size=2>Separate certifications for the registrant's principal executive officer and principal accounting officer, as required by Rule 30a-2(a) under the Investment Company Act of 1940, are attached.</font></p>
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  <td width=100%>&nbsp;</td>
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  <td align=middle nowrap width=100%><font face=sans-serif size=2>SIGNATURES</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>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.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>John Hancock Income Securities Trust</font><br><br><font face=sans-serif size=2>By: /s/ Keith F. Hartstein</font><br><font face=sans-serif size=2>------------------------------</font><br><font face=sans-serif size=2>Keith F. Hartstein</font><br><font face=sans-serif size=2>President and Chief Executive Officer</font><br><br><font face=sans-serif size=2>Date: September 20, 2011</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>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.</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>By: /s/ Keith F. Hartstein</font><br><font face=sans-serif size=2>------------------------------</font><br><font face=sans-serif size=2>Keith F. Hartstein</font><br><font face=sans-serif size=2>President and Chief Executive Officer</font><br><br><font face=sans-serif size=2>Date: September 20, 2011</font><br><br><font face=sans-serif size=2>By: /s/ Charles A. Rizzo</font><br><font face=sans-serif size=2>-------------------------------</font><br><font face=sans-serif size=2>Charles A. Rizzo</font><br><font face=sans-serif size=2>Chief Financial Officer</font><br><br><font face=sans-serif size=2>Date: September 20, 2011</font></p></div>

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<TYPE>EX-99.CERT
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<FILENAME>b_cert.htm
<DESCRIPTION>CERTIFICATION
<TEXT>

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<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2><b><u>CERTIFICATION</u></b></font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>I, Keith F. Hartstein, certify that:</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>1. I have reviewed this report on Form N-Q of John Hancock Income Securities Trust (the &#8220;registrant&#8221;);</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>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;</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>4. The registrant&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(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;</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(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;</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(c) Evaluated the effectiveness of the registrant&#8217;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</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(d) Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>5. The registrant&#8217;s other certifying officer and I have disclosed to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions):</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(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&#8217;s ability to record, process, summarize, and report financial information; and</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal control over financial reporting.</font></p>

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<table cellspacing=0 border=0 style="WIDTH:80%;">
 <tr>
  <td width=46%>&nbsp;</td>
 <td width=54%>&nbsp;</td>
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<tr valign=bottom>
  <td align=left nowrap width=46%><font face=sans-serif size=2>Date: </font><font face=sans-serif size=2><u>September 20, 2011</u></font>&nbsp;</td>
 <td align=left nowrap width=54%><font face=sans-serif size=2><u>/s/ Keith F. Hartstein</u></font><u>&nbsp;</u></td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=46%>&nbsp;</td>
 <td align=left nowrap width=54%><font face=sans-serif size=2>Keith F. Hartstein</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=46%>&nbsp;</td>
 <td align=left nowrap width=54%><font face=sans-serif size=2>President and Chief Executive Officer</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

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<a name="page_2"></a><br>

<div style="PADDING-RIGHT:0%;PADDING-LEFT:0%;">

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2><b><u>CERTIFICATION</u></b></font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>I, Charles A. Rizzo, certify that:</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>1. I have reviewed this report on Form N-Q of John Hancock Income Securities Trust (the &#8220;registrant&#8221;);</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>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;</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>4. The registrant&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(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;</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(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;</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(c) Evaluated the effectiveness of the registrant&#8217;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</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(d) Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>5. The registrant&#8217;s other certifying officer and I have disclosed to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions):</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(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&#8217;s ability to record, process, summarize, and report financial information; and</font></p>

<p style="TEXT-ALIGN:left;"><font face=sans-serif size=2>(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal control over financial reporting.</font></p>

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<table cellspacing=0 border=0 style="WIDTH:80%;">
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  <td width=46%>&nbsp;</td>
 <td width=54%>&nbsp;</td>
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  <td align=left nowrap width=46%><font face=sans-serif size=2>Date: </font><font face=sans-serif size=2><u>September 20, 2011</u></font>&nbsp;</td>
 <td align=left nowrap width=54%><font face=sans-serif size=2><u>/s/ Charles A. Rizzo</u></font><u>&nbsp;</u></td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=46%>&nbsp;</td>
 <td align=left nowrap width=54%><font face=sans-serif size=2>Charles A. Rizzo</font>&nbsp;</td>
 </tr>
<tr valign=bottom>
  <td align=left nowrap width=46%>&nbsp;</td>
 <td align=left nowrap width=54%><font face=sans-serif size=2>Chief Financial Officer</font>&nbsp;</td>
 </tr>
</table></div>

<p style="MARGIN:0px;">&nbsp;</p></div>

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M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`
M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`
+!1110`4444`?_]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
