<SEC-DOCUMENT>0000928816-14-001458.txt : 20140924
<SEC-HEADER>0000928816-14-001458.hdr.sgml : 20140924
<ACCEPTANCE-DATETIME>20140924135959
ACCESSION NUMBER:		0000928816-14-001458
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20140731
FILED AS OF DATE:		20140924
DATE AS OF CHANGE:		20140924
EFFECTIVENESS DATE:		20140924

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:		141118154

	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_incomesecurities.htm
<DESCRIPTION>JOHN HANCOCK INCOME SECURITIES TRUST
<TEXT>
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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>UNITED STATES</FONT>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>SECURITIES AND EXCHANGE COMMISSION</FONT>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>Washington, D.C. 20549</FONT>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><B><FONT size=3 face=serif>FORM N-Q</FONT></B>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><B><FONT size=3 face=serif>QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED</FONT></B>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><B><FONT size=3 face=serif>MANAGEMENT INVESTMENT COMPANIES</FONT></B>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><B><FONT size=3 face=serif>&nbsp; </FONT></B></TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>Investment Company Act file number </FONT><FONT size=3 face=serif><U>811-4186</U></FONT>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif><U>John Hancock Income Securities Trust</U></FONT>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>(Exact name of registrant as specified in charter)</FONT>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>&nbsp;</FONT></TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif><U>601 Congress Street, Boston, Massachusetts 02210</U></FONT>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>(Address of principal executive offices) (Zip code)</FONT>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>&nbsp;</FONT></TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>Salvatore Schiavone</FONT>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>&nbsp; </FONT></TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>Treasurer</FONT>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>&nbsp; </FONT></TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>601 Congress Street</FONT>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif><U>Boston, Massachusetts 02210</U></FONT>&nbsp;</TD></TR>

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   <TD width="50%" align=center>&nbsp; </TD>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>(Name and address of agent for service)</FONT>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=center><FONT size=3 face=serif>&nbsp;</FONT></TD></TR>

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   <TD width="100%" colSpan=2 noWrap align=left><FONT size=3 face=serif>Registrant's telephone number, including area code: </FONT><FONT size=3 face=serif><U>617-663-4497</U></FONT>&nbsp;</TD></TR>

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   <TD width="50%" noWrap align=left><FONT size=3 face=serif>Date of fiscal year end:</FONT>&nbsp;</TD>

   <TD width="50%" noWrap align=left><FONT size=3 face=serif>October 31</FONT>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2>&nbsp; </TD></TR>

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   <TD width="50%" noWrap align=left><FONT size=3 face=serif>Date of reporting period:</FONT>&nbsp;</TD>

   <TD width="50%" noWrap align=left><FONT size=3 face=serif>July 31, 2014</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px"><FONT size=2 face=sans-serif><BR><BR>ITEM 1. SCHEDULE OF INVESTMENTS</FONT></P></DIV>









































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<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

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   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

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   <TD width="99%" colSpan=5></TD></TR>

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   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Corporate Bonds 69.3% (46.8% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$128,769,494</FONT></B>&nbsp;</TD></TR>

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   <TD width="99%" colSpan=5 noWrap align=left><FONT size=2 face=sans-serif>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>(Cost $121,699,681)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

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   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Consumer Discretionary 8.6%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>16,024,592</FONT></B>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Auto Components 0.9%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Dana Holding Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/15/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$395,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>411,788</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Delphi Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,005,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,079,119</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Stackpole International Intermediate Company SA (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>245,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>245,000</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

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   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Automobiles 2.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Ford Motor Company</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/15/43</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>145,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>145,487</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Ford Motor Credit Company LLC (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/02/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,803,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,098,921</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Ford Motor Credit Company LLC</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/15/16</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>330,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>380,518</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>General Motors Company</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/02/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>445,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>464,469</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>General Motors Company</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/02/43</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>380,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>430,350</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Nissan Motor Acceptance Corp. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.950</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/12/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>490,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>493,999</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

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   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Hotels, Restaurants &amp; Leisure 0.6%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>CCM Merger, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/01/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>380,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>400,900</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Seminole Tribe of Florida, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.535</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/01/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>650,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>721,500</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Waterford Gaming LLC (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/15/14</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>133,522</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>29,709</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Internet &amp; Catalog Retail 0.3%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>QVC, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>325,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>326,416</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>QVC, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/02/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>255,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>269,873</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Media 3.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>21st Century Fox America, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.150</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/01/37</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>165,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>195,155</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>21st Century Fox America, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.400</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/15/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>150,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>184,056</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>21st Century Fox America, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.600</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/11/15</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,000,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,071,974</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>21st Century Fox America, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/20/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,020,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,287,151</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>AMC Entertainment, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>390,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>395,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>CBS Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/30/30</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>595,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>786,213</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Myriad International Holdings BV (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/18/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>200,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>220,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Sirius XM Radio, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>845,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>883,025</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Time Warner Cable, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/01/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>350,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>439,725</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>WideOpenWest Finance LLC</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>100,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>111,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Multiline Retail 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Macy's Retail Holdings, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/15/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>444,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>492,682</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Tops Holding II Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>235,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>243,813</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Specialty Retail 0.9%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>AutoNation, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/01/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>655,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>718,044</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bed Bath &amp; Beyond, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.749</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/01/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>185,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>183,634</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bed Bath &amp; Beyond, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.165</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/01/44</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>185,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>183,921</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Conn's, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>450,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>438,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Hillman Group, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>110,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>108,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Textiles, Apparel &amp; Luxury Goods 0.3%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Hot Topic, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>270,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>297,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Quiksilver, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/01/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>310,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>285,200</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Consumer Staples 1.9%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>3,463,117</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Beverages 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Crestview DS Merger Sub II, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/01/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>310,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>348,363</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Pernod-Ricard SA (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/07/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>325,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>373,299</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>1</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<HR align=center SIZE=2 width="100%" noShade>



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

<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Consumer Staples (continued)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Food &amp; Staples Retailing 0.5%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Safeway, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/01/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$125,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$127,132</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Safeway, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>840,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>865,497</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Food Products 0.3%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bunge, Ltd. Finance Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>389,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>485,551</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Personal Products 0.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Prestige Brands, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>260,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>260,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Tobacco 0.5%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Alliance One International, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>820,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>799,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Vector Group, Ltd.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>195,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>203,775</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Energy 9.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>16,715,412</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Energy Equipment &amp; Services 1.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Astoria Depositor Corp. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.144</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/01/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>535,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>567,100</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Key Energy Services, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/01/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>270,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>275,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Nostrum Oil &amp; Gas Finance BV (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/14/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>345,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>360,939</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>RKI Exploration &amp; Production LLC (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/01/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>270,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>288,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Rowan Companies, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>330,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>354,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Oil, Gas &amp; Consumable Fuels 8.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Access Midstream Partners LP</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>325,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>334,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Afren PLC (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/08/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>240,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>262,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Baytex Energy Corp. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>65,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>64,025</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>BreitBurn Energy Partners LP (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>267,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>279,015</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>CNOOC Finance 2013, Ltd. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/09/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>420,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>391,171</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Compressco Partners LP (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>235,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>234,413</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Continental Resources, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>795,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>852,638</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>DCP Midstream LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>405,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>517,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>DCP Midstream LLC (5.850% to 5-21-23, then 3 month</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>LIBOR + 3.850%) (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.850</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/21/43</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>370,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>358,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>DCP Midstream Operating LP (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>225,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>226,987</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Denbury Resources, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>255,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>250,538</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Ecopetrol SA</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/18/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>190,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>213,693</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Energy Transfer Partners LP (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.200</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>210,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>231,066</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Energy Transfer Partners LP (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.700</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>425,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>552,015</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Energy XXI Gulf Coast, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>145,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>144,275</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Enterprise Products Operating LLC (7.000% to 6-1-17, then 3</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>month LIBOR + 2.777%) (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/67</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>695,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>736,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Enterprise Products Operating LLC (8.375% to 8-1-16, then 3</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>month LIBOR + 3.708%)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/01/66</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>230,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>258,463</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>EP Energy LLC (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>195,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>212,550</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>EV Energy Partners LP (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>400,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>418,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>FTS International, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>175,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>178,063</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Halcon Resources Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>200,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>207,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Jones Energy Holdings LLC (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>150,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>156,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Kerr-McGee Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.950</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/01/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>335,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>422,896</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Kinder Morgan Energy Partners LP</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/32</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>195,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>251,403</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Kosmos Energy, Ltd. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/01/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>220,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>224,950</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Lukoil International Finance BV (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.416</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/24/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>675,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>648,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Memorial Resource Development Corp. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>145,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>141,013</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Midstates Petroleum Company, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>425,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>438,813</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Newfield Exploration Company (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/30/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>260,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>283,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Pacific Rubiales Energy Corp. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/26/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>335,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>341,700</FONT>&nbsp;</TD></TR></TABLE></DIV>

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   <TD noWrap align=center><FONT size=2 face=serif>2</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

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<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

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   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Energy (continued)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Petro-Canada (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$1,000,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$1,374,839</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Petrobras International Finance Company</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/27/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>265,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>272,966</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Petroleos de Venezuela SA</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/12/27</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>550,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>329,450</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Petroleos Mexicanos</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/24/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>275,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>294,388</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Plains Exploration &amp; Production Company (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>458,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>517,540</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Plains Exploration &amp; Production Company</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>156,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>180,570</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Regency Energy Partners LP</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>95,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>93,813</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Regency Energy Partners LP</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>480,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>484,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Regency Energy Partners LP</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>90,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>94,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Summit Midstream Holdings LLC</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/01/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>150,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>163,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>TransCanada Pipelines, Ltd. (6.350% to 5-15-17, then 3</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>month LIBOR + 2.210%) (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.350</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/15/67</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>710,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>739,820</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Tullow Oil PLC (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/01/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>230,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>233,450</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Tullow Oil PLC (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>255,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>256,275</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Financials 27.6%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>51,283,181</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Banks 8.8%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Banco do Brasil SA (6.250% to 4-15-24, then 10 Year U.S.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Treasury + 4.398%) (Q)(S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>470,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>366,647</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bank of America Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.300</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/11/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>260,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>253,934</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bank of America Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/13/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>670,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>740,371</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bank of America Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.700</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/24/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>370,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>425,365</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bank of America Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/25/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,000,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,169,222</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Barclays Bank PLC (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10.179</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/12/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>575,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>789,919</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>BPCE SA (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.700</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/22/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>645,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>702,018</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Citigroup, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/16/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>375,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>373,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Citigroup, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/25/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>185,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>187,889</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Citigroup, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/25/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>310,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>356,122</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Commerzbank AG (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/19/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>350,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>411,039</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Credit Agricole SA (7.875% to 1-23-24, then 5 year U.S.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Swap Rate + 4.898%) (Q)(S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/23/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>600,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>637,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Credit Agricole SA (8.125% to 9-19-18, then 5 year U.S.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Swap Rate + 6.283%) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/19/33</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>250,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>283,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Fifth Third Bancorp (5.100% to 6-30-23, then 3 month LIBOR</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>+ 3.033%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.100</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/30/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>420,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>399,630</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>HBOS PLC (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/21/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>825,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>943,041</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>ICICI Bank, Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/16/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>475,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>516,018</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>JPMorgan Chase &amp; Company (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/10/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>895,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>980,033</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>JPMorgan Chase &amp; Company (5.000% to 7-1-19, then 3</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>month LIBOR + 3.320%) (Q)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/01/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>520,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>512,503</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>JPMorgan Chase &amp; Company (6.750% to 02/01/2024, then 3</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>month LIBOR + 3.780%) (Q)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/01/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>805,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>859,338</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Lloyds Banking Group PLC (7.500% to 06/27/2024, then 5</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>year U.S. Swap Rate + 4.760%) (Q)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/27/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>385,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>404,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Manufacturers &amp; Traders Trust Company (5.629% to 12-1-</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>16, then 3 month LIBOR + 6.400%)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.629</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/01/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>150,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>155,294</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Mizuho Financial Group Cayman 3, Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.600</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/27/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>435,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>452,046</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Oversea-Chinese Banking Corp., Ltd. (4.000% to</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>10/15/2019, then 5 year U.S. Swap Rate + 2.203%) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/15/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>200,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>202,505</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>PNC Financial Services Group, Inc. (4.850% to 6-1-23, then</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>3 month LIBOR + 3.040%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.850</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>310,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>294,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Rabobank Nederland NV (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/08/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>905,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>957,051</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Swedbank AB (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/29/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>460,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>466,793</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Synovus Financial Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>200,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>226,500</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

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   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Financials (continued)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>The PNC Financial Services Group, Inc. (P)(Q)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.447</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/08/14</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$250,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$249,563</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Wells Fargo &amp; Company (5.900% to 6-15-24, then 3 month</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>LIBOR + 3.110%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.900</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>655,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>684,148</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Wells Fargo &amp; Company, Series K (7.980% to 3-15-18, then</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>3 month LIBOR + 3.770%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.980</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>750,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>850,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Wells Fargo Bank NA (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.850</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/01/37</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>390,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>478,941</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Capital Markets 4.8%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Credit Suisse Group AG (7.500% to 12-11-23, then 5 year</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>U.S. Swap Rate + 4.598%) (Q)(S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/11/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>295,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>323,763</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Fifth Street Finance Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/01/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>430,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>446,084</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>FS Investment Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>360,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>360,689</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Jefferies Group LLC (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,005,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,188,111</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Jefferies Group LLC (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>235,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>293,597</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Macquarie Group, Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/14/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>340,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>383,043</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Morgan Stanley (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.100</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/22/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>580,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>581,532</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Morgan Stanley (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/26/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>450,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>509,283</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Morgan Stanley (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.550</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/27/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>565,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>624,021</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Morgan Stanley (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/25/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>515,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>594,364</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Morgan Stanley (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.300</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/13/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>895,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,080,737</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Morgan Stanley (5.450% to 7-15-19, then 3 month LIBOR +</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>3.610%) (Q)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.450</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>345,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>344,138</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Stifel Financial Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/18/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>315,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>314,404</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>The Goldman Sachs Group, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/27/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,195,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,332,604</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>The Goldman Sachs Group, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/24/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>105,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>120,459</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Walter Investment Management Corp. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>455,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>464,100</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Consumer Finance 1.6%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Capital One Financial Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,100,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,092,236</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Capital One Financial Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>320,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>352,476</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Credito Real SAB de CV (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/13/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>325,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>349,375</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Discover Bank (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>150,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>179,349</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Discover Financial Services (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.200</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/27/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>585,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>644,581</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Enova International, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>390,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>393,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Diversified Financial Services 3.9%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Doric Nimrod Air Alpha 2013-1 Pass Through Trust (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/30/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>325,375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>345,711</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Doric Nimrod Air Alpha 2013-1 Pass Through Trust (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/30/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>278,483</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>294,496</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Doric Nimrod Air Finance Alpha, Ltd. 2012-1 Class A Pass</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Through (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/30/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>181,348</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>193,401</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>General Electric Capital Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/16/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>365,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>398,771</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>General Electric Capital Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.550</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/04/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>430,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>495,520</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>General Electric Capital Corp. (7.125% until 6-15-22, then 3</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>month LIBOR + 5.296%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>600,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>702,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>ING Bank NV (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.800</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/25/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>260,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>289,964</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>JPMorgan Chase &amp; Company (5.150% to 5-1-23, then 3</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>month LIBOR + 3.250%) (Q)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.150</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/01/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>375,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>353,906</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>JPMorgan Chase &amp; Company (7.900% to 4-30-18, then 3</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>month LIBOR + 3.470%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.900</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/30/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>655,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>721,319</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Leucadia National Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/18/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>655,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>688,571</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Nationstar Mortgage LLC (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/01/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>310,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>316,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Nationstar Mortgage LLC (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/01/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>295,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>325,975</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>The Bear Stearns Companies LLC</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/01/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,000,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,178,976</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>USB Realty Corp. (P)(Q)(S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.381</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/15/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>800,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>736,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Voya Financial, Inc. (5.650% to 5-15-23, then 3 month</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>LIBOR + 3.580%)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.650</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/15/53</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>250,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>254,375</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

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<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

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<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Financials (continued)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Insurance 3.7%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>American International Group, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$295,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$306,832</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>American International Group, Inc. (8.175% to 5-15-38, then</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>3 month LIBOR + 4.195%)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.175</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/15/58</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>45,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>62,156</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Aquarius + Investments PLC (6.375% to 9-1-19, then 5 Year</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>U.S. Swap Rate + 5.210%)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/01/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>235,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>249,394</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Assured Guaranty US Holdings, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/01/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>465,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>469,005</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>AXA SA (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.600</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/15/30</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>175,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>235,375</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>AXA SA (6.379% to 12-14-36, then 3 month LIBOR +</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>2.256%) (Q)(S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.379</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/14/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>240,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>259,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>CNA Financial Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/15/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>540,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>669,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Genworth Holdings, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/24/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>290,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>359,087</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Liberty Mutual Group, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.800</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/37</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>705,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>835,425</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Lincoln National Corp. (6.050% until 4-20-17, then 3 month</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>LIBOR + 2.040%) (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.050</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/20/67</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>395,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>398,950</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>MetLife, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.400</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/15/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>305,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>341,844</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Nippon Life Insurance Company (5.000% to 10-18-22, then 3</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>month LIBOR + 4.240%) (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/18/42</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>310,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>333,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Pacific LifeCorp. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/10/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>500,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>571,568</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Prudential Financial, Inc. (5.200% to 3-15-24, then 3 month</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>LIBOR + 3.040%)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.200</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/44</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>110,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>111,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Prudential Financial, Inc. (5.875% to 9-15-22, then 3 month</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>LIBOR + 4.175%) (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/15/42</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>615,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>665,738</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Teachers Insurance &amp; Annuity Association of America (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.850</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/16/39</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>475,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>628,519</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>White Mountains Re Group, Ltd. (7.506% to 6-30-17, then 3</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>month LIBOR + 3.200%) (Q)(S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.506</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/30/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>415,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>437,825</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Real Estate Investment Trusts 4.6%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>American Tower Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.400</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>225,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>233,260</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>American Tower Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.700</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>400,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>426,765</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>ARC Properties Operating Partnership LP (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.600</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/06/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>630,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>642,240</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Crown Castle Towers LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.883</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/15/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>760,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>840,966</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Crown Castle Towers LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.113</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/15/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>451,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>525,094</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>DDR Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/01/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>880,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,008,808</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Goodman Funding Pty, Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>645,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>747,939</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Health Care REIT, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.950</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>190,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>209,648</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Highwoods Realty LP (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.850</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>710,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>785,528</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Host Hotels &amp; Resorts LP (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>439,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>468,816</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>iStar Financial, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/01/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>135,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>132,975</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>MPT Operating Partnership LP (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>320,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>340,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Omega Healthcare Investors, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.950</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/01/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>350,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>359,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Ventas Realty LP (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/30/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>330,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>353,177</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Ventas Realty LP</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>455,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>497,537</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Weyerhaeuser Company (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/32</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>690,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>931,162</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Real Estate Management &amp; Development 0.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>General Shopping Investments, Ltd. (12.000% to 3-20-17,</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>then 5 Year USGG + 11.052%) (Q)(S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/20/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>260,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>246,012</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Health Care 2.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>4,048,656</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Health Care Providers &amp; Services 1.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Medco Health Solutions, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>275,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>323,209</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>National Mentor Holdings, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>390,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>413,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Quest Diagnostics, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.700</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/01/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>440,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>441,878</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Quest Diagnostics, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/01/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>370,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>376,072</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

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<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>5</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

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<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Health Care (continued)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>WellCare Health Plans, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/15/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$200,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$204,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Pharmaceuticals 1.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Grifols Worldwide Operations, Ltd. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>350,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>351,313</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Hospira, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.050</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/30/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>485,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>533,520</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Mallinckrodt International Finance SA (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>310,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>311,550</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Mylan, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>545,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>599,389</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Salix Pharmaceuticals, Ltd. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>225,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>235,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Valeant Pharmaceuticals International, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>240,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>259,200</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Industrials 7.9%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>14,628,376</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Aerospace &amp; Defense 1.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Embraer Overseas, Ltd. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.696</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/16/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>296,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>318,940</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Textron Financial Corp. (6.000% to 2-15-17, then 3 month</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>LIBOR + 1.735%) (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/67</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>750,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>675,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Textron, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.600</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/01/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>505,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>564,369</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Textron, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/01/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>270,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>324,644</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Airlines 3.5%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>America West Airlines 2000-1 Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.057</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/02/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>123,208</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>141,997</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>American Airlines 2013-2 Class A Pass Through Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.950</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/15/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>335,109</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>362,554</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>British Airways PLC 2013-1 Class A Pass Through Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>(S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/20/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>615,196</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>645,783</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>British Airways PLC 2013-1 Class B Pass Through Trust (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/20/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>258,862</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>276,983</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Continental Airlines 1997-4 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.900</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/02/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>303,668</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>325,867</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Continental Airlines 1998-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.648</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/15/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>95,023</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>101,114</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Continental Airlines 1999-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.545</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/02/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>159,471</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>176,518</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Continental Airlines 2000-2 Class B Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.307</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/02/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>75,581</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>81,628</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Continental Airlines 2007-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.983</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/19/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>476,153</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>532,101</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Continental Airlines 2012-1 Class B Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/11/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>215,675</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>232,929</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Delta Air Lines 2002-1 Class G-1 Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.718</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/02/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>602,335</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>703,226</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Delta Air Lines 2007-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.821</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/10/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>608,315</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>718,177</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Delta Air Lines 2010-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.200</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/02/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>149,488</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>167,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Delta Air Lines 2011-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.300</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>270,666</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>297,733</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Northwest Airlines 2007-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.027</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/01/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>358,158</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>409,768</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>UAL 2009-1 Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10.400</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/01/16</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>76,734</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>86,518</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>UAL 2009-2A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/15/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>245,533</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>279,294</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>United Airlines 2014-2 Class A Pass Through Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/03/26</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>435,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>433,913</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>United Airlines 2014-2 Class B Pass Through Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/03/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>250,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>249,688</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>US Airways 2012-1 Class A Pass Through Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.900</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/01/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>162,242</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>181,306</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Building Products 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Masco Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>285,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>334,163</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Owens Corning (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.200</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>395,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>402,942</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Commercial Services &amp; Supplies 0.7%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Ahern Rentals, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>195,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>211,575</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Casella Waste Systems, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>365,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>375,950</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Iron Mountain, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/15/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>440,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>458,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Safway Group Holding LLC (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/15/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>180,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>188,550</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Construction &amp; Engineering 0.3%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Aeropuertos Dominicanos Siglo XXI SA (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/13/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>300,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>289,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Tutor Perini Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/01/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>335,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>349,238</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Industrial Conglomerates 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Odebrecht Finance, Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/26/42</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>225,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>239,063</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Odebrecht Finance, Ltd. (P)(Q)(S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/14/15</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>200,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>204,200</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

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   <TD noWrap align=center><FONT size=2 face=serif>6</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Industrials (continued)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Tenedora Nemak SA de CV (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/28/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$210,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$217,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Machinery 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>SPL Logistics Escrow LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/01/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>215,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>238,113</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Marine 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Navios Maritime Acquisition Corp. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>305,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>308,813</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Navios South American Logistics, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>375,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>382,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Trading Companies &amp; Distributors 1.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Air Lease Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>440,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>449,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Air Lease Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/01/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>215,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>216,881</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Air Lease Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/01/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>220,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>234,025</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Air Lease Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/01/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>175,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>189,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Aircastle, Ltd.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>160,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>182,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>International Lease Finance Corp. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/01/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>290,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>332,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>United Rentals North America, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/15/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>265,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>270,963</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Transportation Infrastructure 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Florida East Coast Holdings Corp. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/01/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>255,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>263,925</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Information Technology 0.5%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>1,023,613</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Internet Software &amp; Services 0.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Ancestry.com, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/15/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>305,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>350,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Ancestry.com, Inc., PIK (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/15/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>135,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>137,363</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Semiconductors &amp; Semiconductor Equipment 0.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Micron Technology, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>375,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>393,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Software 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Blackboard, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>140,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>141,750</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Materials 4.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>7,620,247</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Chemicals 1.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Braskem Finance, Ltd. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/07/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>515,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>576,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>CF Industries, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/01/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>400,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>485,980</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Incitec Pivot Finance LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/10/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>345,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>389,734</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Methanex Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>280,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>307,973</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Rayonier AM Products, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>95,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>93,575</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Construction Materials 0.7%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>American Gilsonite Company (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/01/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>390,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>424,613</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Cemex SAB de CV (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/10/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>340,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>354,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Magnesita Finance, Ltd. (Q)(S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/05/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>420,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>418,740</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Containers &amp; Packaging 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Ardagh Finance Holdings SA, PIK (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>250,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>251,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Metals &amp; Mining 2.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Allegheny Technologies, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>715,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>887,225</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>AngloGold Ashanti Holdings PLC (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/30/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>405,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>458,258</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>ArcelorMittal (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10.350</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>370,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>460,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>AuRico Gold, Inc. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/01/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>125,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>126,563</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Gerdau Trade, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>225,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>218,745</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Glencore Finance Canada, Ltd. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/25/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>220,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>223,605</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>JMC Steel Group (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>185,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>183,150</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>MMC Norilsk Nickel OJSC (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.550</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/28/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>235,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>234,413</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Rain CII Carbon LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/01/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>340,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>351,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>SunCoke Energy, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/01/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>94,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>99,640</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>7</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<HR align=center SIZE=2 width="100%" noShade>



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

<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Materials (continued)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Thompson Creek Metals Company, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$395,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$386,113</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Vedanta Resources PLC (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/31/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>300,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>316,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Trading Companies &amp; Distributors 0.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Glencore Funding LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/30/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>370,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>368,945</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Telecommunication Services 3.5%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>6,423,552</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Diversified Telecommunication Services 2.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>BellSouth Telecommunications, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.300</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/15/15</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>207,500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>211,513</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>CenturyLink, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.800</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>480,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>492,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>CenturyLink, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.450</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>305,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>327,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>GTP Acquisition Partners I LLC (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.704</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/15/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>485,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>491,813</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Telecom Italia Capital SA (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.200</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/18/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>365,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>390,550</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Telefonica Emisiones SAU (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.421</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/20/16</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>600,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>657,002</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Verizon Communications, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.450</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>420,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>428,558</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Verizon Communications, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.550</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/15/43</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>470,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>589,286</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Wind Acquisition Finance SA (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/23/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>355,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>370,088</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Wireless Telecommunication Services 1.3%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Comcel Trust (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/06/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>330,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>354,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Digicel Group, Ltd. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/30/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>385,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>410,988</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Millicom International Cellular SA (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/22/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>210,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>207,375</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Millicom International Cellular SA (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>300,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>318,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>SBA Tower Trust (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.933</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/15/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>395,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>401,199</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>SBA Tower Trust (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.598</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>370,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>370,805</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>SoftBank Corp. (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>400,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>401,000</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Utilities 4.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>7,538,748</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Electric Utilities 2.9%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Beaver Valley II Funding Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>49,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>51,484</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>BVPS II Funding Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.890</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>250,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>259,660</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>DPL, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/15/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>570,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>601,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Electricite de France SA (5.250% to 1-29-23, then 10 Year</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Swap Rate + 3.709%) (Q)(S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/29/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>485,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>492,823</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Exelon Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.900</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/15</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>985,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,020,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>FPL Energy National Wind LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.608</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/10/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>76,696</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>74,994</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Israel Electric Corp., Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/21/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>420,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>447,720</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>NextEra Energy Capital Holdings, Inc. (6.650% to 6-15-17,</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>then 3 month LIBOR + 2.125%)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.650</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/67</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>180,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>183,825</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>NRG Yield Operating LLC (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/15/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>260,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>260,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Oncor Electric Delivery Company LLC (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/30/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>820,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>910,208</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>PNPP II Funding Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.120</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/30/16</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>92,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>95,290</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>PPL Capital Funding, Inc. (6.700% to 3-30-17, then 3 month</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>LIBOR + 2.665%) (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.700</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/30/67</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>525,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>536,813</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Southern California Edison Company (6.250% to 2-1-22,</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>then 3 month LIBOR + 4.199%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/01/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>320,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>347,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>W3A Funding Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.090</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/02/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>252,509</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>251,939</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Independent Power and Renewable Electricity Producers 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>NRG Energy, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>125,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>128,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Multi-Utilities 1.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Berkshire Hathaway Energy Company (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.480</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/15/28</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>550,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>797,680</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Integrys Energy Group, Inc. (6.110% to 12-1-16, then 3</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>month LIBOR + 2.120%) (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.110</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/01/66</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>650,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>655,850</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

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<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>8</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<HR align=center SIZE=2 width="100%" noShade>



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<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Utilities (continued)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Wisconsin Energy Corp. (6.250% to 5-15-17, then 3 month</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>LIBOR + 2.113%) (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/15/67</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$410,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$422,362</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Term Loans (M) 0.6% (0.4% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$1,215,025</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="99%" colSpan=5 noWrap align=left><FONT size=2 face=sans-serif>

   <HR SIZE=1 noShade>

 </FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>(Cost $1,211,674)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Consumer Discretionary 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>163,377</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Hotels, Restaurants &amp; Leisure 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>CCM Merger, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/01/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>163,581</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>163,377</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Consumer Staples 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>359,413</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Household Products 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>The Sun Products Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/23/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>372,449</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>359,413</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Energy 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>159,100</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Energy Equipment &amp; Services 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Paragon Offshore Finance Company (T)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>TBD</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/19/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>160,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>159,100</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Health Care 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>231,326</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Health Care Providers &amp; Services 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>CRC Health Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/29/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>74,813</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>75,163</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>CRC Health Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/28/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>155,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>156,163</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Industrials 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>148,119</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Aerospace &amp; Defense 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>WP CPP Holdings LLC</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/27/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>147,750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>148,119</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Utilities 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>153,690</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Electric Utilities 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>La Frontera Generation LLC</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/30/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>153,307</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>153,690</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="54%" colSpan=2 noWrap align=left><B><FONT size=2 face=sans-serif>Capital Preferred Securities (a) 2.3% (1.5% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$4,210,739</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="99%" colSpan=5 noWrap align=left><FONT size=2 face=sans-serif>

   <HR SIZE=1 noShade>

 </FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>(Cost $3,952,100)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Financials 2.3%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>4,210,739</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Banks 0.6%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>PNC Financial Services Group, Inc. (6.750% to 8-1-21, then</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>3 month LIBOR + 3.678%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/01/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>520,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>579,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Sovereign Capital Trust VI (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.908</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/13/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>489,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>522,511</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Capital Markets 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>State Street Capital Trust IV (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.231</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/37</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>935,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>808,775</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Diversified Financial Services 0.3%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>BAC Capital Trust XIV, Series G (P)(Q)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/25/14</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>654,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>529,740</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Insurance 1.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>MetLife Capital Trust IV (7.875% to 12-15-32, then 3 month</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>LIBOR + 3.960%) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/15/37</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>110,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>139,150</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>MetLife Capital Trust X (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/08/38</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>315,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>452,025</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>ZFS Finance USA Trust II (6.450% to 6-15-16 then 3 month</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>LIBOR + 2.000%) (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.450</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/15/65</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>870,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>937,425</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>ZFS Finance USA Trust V (6.500% to 5-9-17, then 3 month</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>LIBOR + 2.285%) (S)(Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/09/37</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>225,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>241,313</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>9</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<HR align=center SIZE=2 width="100%" noShade>



<!--$$/page=--><A name="page_11"></A><BR>

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

<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5></TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" colSpan=3 noWrap align=left><B><FONT size=2 face=sans-serif>U.S. Government &amp; Agency Obligations 41.0% (27.7% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$76,249,546</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="99%" colSpan=5 noWrap align=left><FONT size=2 face=sans-serif>

   <HR SIZE=1 noShade>

 </FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>(Cost $76,558,718)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>U.S. Government 10.5%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>19,553,794</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>U.S. Treasury Bond</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bond</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.125</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/42</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$1,405,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,362,631</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bond (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/44</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3,670,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3,884,467</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>U.S. Treasury Note</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Note (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5,165,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5,146,437</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Note (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/30/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,015,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,007,546</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Note (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/30/20</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8,000,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7,963,752</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Note (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/15/24</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>190,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>188,961</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>U.S. Government Agency 30.5%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>56,695,752</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Federal Home Loan Banks</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bond</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.900</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/05/25</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>200,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>191,915</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bond</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.170</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/04/27</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>200,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>190,199</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bond</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/21/27</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>269,697</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>261,013</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Federal Home Loan Mortgage Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.558</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/44</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>550,561</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>564,366</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.692</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/01/44</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>542,151</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>557,909</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/01/43</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,004,455</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>989,355</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/01/41</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,761,341</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,989,633</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/01/41</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4,576,538</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5,067,086</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/01/39</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>368,675</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>411,066</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Federal National Mortgage Association</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>15 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/01/27</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,639,299</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,693,665</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>15 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/29/27</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>705,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>657,751</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.530</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/01/44</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,000,693</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,026,229</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.553</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/01/44</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>954,800</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>980,075</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.400</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/27/32</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>745,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>693,918</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/01/39</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,053,514</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,185,554</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/01/42</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4,332,978</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4,270,015</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/01/43</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>283,511</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>279,569</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/01/43</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,055,915</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,035,622</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/01/42</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5,832,163</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5,947,211</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/01/43</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4,363,196</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4,447,903</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/01/40</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>508,952</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>537,263</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/01/41</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5,697,102</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6,001,069</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/01/41</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,364,121</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,493,040</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/01/40</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,225,720</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,416,906</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/01/41</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5,617,096</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6,088,186</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/01/41</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,109,937</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,346,481</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/01/41</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>621,603</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>692,262</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/01/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>695,358</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>772,339</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/01/39</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,245,598</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,381,158</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/01/40</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>232,712</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>258,184</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/01/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>239,024</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>268,810</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="54%" colSpan=2 noWrap align=left><B><FONT size=2 face=sans-serif>Foreign Government Obligations 0.2% (0.1% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$286,997</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="99%" colSpan=5 noWrap align=left><FONT size=2 face=sans-serif>

   <HR SIZE=1 noShade>

 </FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>(Cost $263,338)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Argentina 0.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>286,997</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Republic of Argentina (H)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.280</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/31/33</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>322,469</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>286,997</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>10</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<HR align=center SIZE=2 width="100%" noShade>



<!--$$/page=--><A name="page_12"></A><BR>

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

<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" colSpan=3 noWrap align=left><B><FONT size=2 face=sans-serif>Collateralized Mortgage Obligations 17.3% (11.7% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$32,206,418</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="99%" colSpan=5 noWrap align=left><FONT size=2 face=sans-serif>

   <HR SIZE=1 noShade>

 </FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>(Cost $30,707,363)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Commercial &amp; Residential 14.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>26,163,663</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>American Home Mortgage Assets Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2006-6, Class XP IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.456</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/25/46</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$4,967,973</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>363,158</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>American Home Mortgage Investment Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-1, Class 1A1 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.375</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/25/45</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>597,685</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>566,386</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Americold 2010 LLC Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2010-ARTA, Class D (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7.443</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/14/29</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>605,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>690,223</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>BAMLL Commercial Mortgage Securities Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2014-ICTS, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.100</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/28</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>100,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>100,185</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bear Stearns Adjustable Rate Mortgage Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-1, Class B2 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.140</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>633,464</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>41,722</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-2, Class A1 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.580</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>423,801</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>429,915</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bear Stearns Alt-A Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-5, Class 1A4 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.715</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>442,905</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>415,796</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-7, Class 11A1 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.695</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>681,618</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>641,398</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bear Stearns Asset Backed Securities Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2004-AC5, Class A1</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/25/34</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>341,784</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>350,735</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Commercial Mortgage Pass Through Certificates</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2010-C1, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.909</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/10/46</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>475,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>521,094</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-LC4, Class B (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.934</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/10/44</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>360,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>391,916</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-LC4, Class C (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.647</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/10/44</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>645,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>720,963</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-300P, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.394</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/10/30</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>620,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>624,951</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-CR11, Class B (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.164</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/10/46</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>560,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>617,729</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-CR13, Class C (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.757</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/10/23</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>435,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>456,848</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-LC13, Class B (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.009</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/10/46</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>525,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>572,158</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2014-CR16, Class C (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.906</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/10/47</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>552,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>582,557</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2014-TWC, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.402</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/13/32</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>445,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>448,916</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Credit Suisse Mortgage Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2014-ICE, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.400</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/27</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>450,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>451,259</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Deutsche Mortgage Securities, Inc. Mortgage Loan Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2004-4, Class 2AR1 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.695</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/25/34</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>506,445</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>476,092</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Extended Stay America Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-ESFL, Class DFL (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.296</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/05/31</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>505,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>507,046</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>GSR Mortgage Loan Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2006-4F, Class 6A1</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/25/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,981,225</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,671,570</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>HarborView Mortgage Loan Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-11, Class X IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.305</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/19/45</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,193,943</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>114,116</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-2, Class IX IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.155</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/19/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7,767,263</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>463,396</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-9, Class 2A1C (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.606</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/20/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>670,060</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>637,656</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-8, Class 1X IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.075</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/19/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,952,195</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>168,792</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2007-3, Class ES IO (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.350</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/19/47</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8,720,044</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>92,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2007-4, Class ES IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.350</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/19/47</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9,371,132</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>93,711</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2007-6, Class ES IO (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.342</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/19/37</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7,320,201</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>77,777</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Hilton USA Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-HLT, Class DFX (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.407</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/05/30</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>381,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>391,516</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2014-ORL, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.300</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/29</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>585,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>585,345</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>IndyMac Index Mortgage Loan Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-AR12, Class AX2 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.213</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7,136,596</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>514,584</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-AR18, Class 1X IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.072</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/25/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8,085,817</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>617,210</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-AR18, Class 2X IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.719</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/25/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7,349,850</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>248,713</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>JPMorgan Chase Commercial Mortgage Securities Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2007-LDPX, Class AM (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.464</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/15/49</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>945,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,000,152</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>11</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<HR align=center SIZE=2 width="100%" noShade>



<!--$$/page=--><A name="page_13"></A><BR>

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

<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Commercial &amp; Residential (continued)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-PHH, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.420</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/15/25</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$260,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$260,616</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-JWRZ, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.142</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/30</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>440,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>441,528</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2014-FBLU, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.752</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/15/28</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>725,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>726,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2014-INN, Class F (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.152</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/15/29</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>490,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>490,041</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Merrill Lynch Mortgage Investors Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2004-1, Class 2A1 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.147</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/25/34</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>444,326</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>435,673</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Morgan Stanley Bank of America Merrill Lynch Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-C7, Class C (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.187</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/46</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>293,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>296,316</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>MortgageIT Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-2, Class 1A2 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.485</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>456,275</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>425,735</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Motel 6 Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-MTL6, Class D (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.781</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/05/25</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>975,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>983,765</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Springleaf Mortgage Loan Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-3A, Class M1 (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.660</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/25/59</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>265,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>264,997</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>UBS Commercial Mortgage Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-C1, Class B</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.822</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/10/45</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>405,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>436,445</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-C1, Class C (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.535</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/10/45</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>270,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>298,928</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>UBS-Barclays Commercial Mortgage Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-C2, Class XA IO (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.775</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/10/63</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4,870,108</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>411,436</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>VNDO Mortgage Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-PENN, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.947</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/13/29</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>612,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>619,839</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Wachovia Bank Commercial Mortgage Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2007-C31, Class AM (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.591</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/15/47</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>285,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>311,005</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>WaMu Mortgage Pass Through Certificates</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-AR8, Class 2AB2 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.575</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/25/45</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>638,736</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>606,009</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Wells Fargo Commercial Mortgage Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-120B, Class C (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.710</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/18/28</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>935,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>902,294</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-BTC, Class E (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.550</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>04/16/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>620,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>557,530</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>WF-RBS Commercial Mortgage Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-C9, Class XA IO (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.232</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/15/45</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5,059,367</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>595,665</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-C15, Class B (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.485</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/15/46</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>155,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>162,492</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-C16, Class B (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.984</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/15/46</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>265,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>288,489</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>U.S. Government Agency 3.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>6,042,755</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Federal Home Loan Mortgage Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 290, Class IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/15/32</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3,320,878</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>640,891</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 3747, Class HI IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/37</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3,482,911</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>356,768</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 3794, Class PI IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/15/38</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>591,315</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>64,736</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 3830, Class NI IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/15/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,791,790</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>299,517</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 4077, Class IK IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/42</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>827,532</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>194,196</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 4136, Class IH IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/15/27</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,369,517</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>294,144</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series K017, Class X1 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.439</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/25/21</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,959,553</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>246,276</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series K018, Class X1 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.449</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/25/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3,689,591</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>309,944</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series K021, Class X1 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.509</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/25/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>807,864</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>76,008</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series K022, Class X1 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.302</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/25/22</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6,015,160</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>493,165</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series K707, Class X1 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.552</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/25/18</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,430,267</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>143,354</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series K709, Class X1 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.540</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/25/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3,342,875</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>204,674</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series K710, Class X1 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.780</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/25/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,547,937</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>184,073</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Federal National Mortgage Association</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2010-68, Class CI IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/25/38</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>756,340</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>124,814</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-118, Class IB IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/25/42</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,380,193</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>310,488</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-137, Class QI IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/25/27</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2,651,449</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>354,706</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-137, Class WI IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/25/32</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,973,019</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>383,467</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 402, Class 3 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/25/39</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>445,814</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>94,512</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 402, Class 4 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/25/39</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>692,841</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>139,868</FONT>&nbsp;</TD></TR></TABLE></DIV>

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   <TD noWrap align=center><FONT size=2 face=serif>12</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

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   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

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   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>U.S. Government Agency (continued)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD width="99%" colSpan=5>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 402, Class 7 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/25/39</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$641,689</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$124,580</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 402, Class 8 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/25/39</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>581,462</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>117,079</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 407, Class 15 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/25/40</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>686,392</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>139,700</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 407, Class 21 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/25/39</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>337,981</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>57,318</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 407, Class 7 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/25/41</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>281,502</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>58,428</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 407, Class 8 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/25/41</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>289,178</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>61,996</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 407, Class C6 IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/25/40</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,084,046</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>239,051</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Government National Mortgage Association</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-114, Class IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.038</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/16/53</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,991,806</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>174,273</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-42, Class IO</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/20/43</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>997,103</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>154,729</FONT>&nbsp;</TD></TR>

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   <TD width="99%" colSpan=5>&nbsp;&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Asset Backed Securities 7.4% (5.0% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$13,767,706</FONT></B>&nbsp;</TD></TR>

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   <TD width="99%" colSpan=5 noWrap align=left><FONT size=2 face=sans-serif>

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</FONT></TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>(Cost $13,265,164)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Asset Backed Securities 7.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>13,767,706</FONT></B>&nbsp;</TD></TR>

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   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>ACE Securities Corp.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-HE3, Class M2 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.830</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>315,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>300,706</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Aegis Asset Backed Securities Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-4, Class M1 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.605</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>750,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>651,965</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Ally Master Owner Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-4, Class A</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.720</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>230,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>230,941</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Ameriquest Mortgage Securities, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-R3, Class M2 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>480,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>441,116</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Argent Securities, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2003-W10, Class M1 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.232</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/25/34</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>257,870</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>248,258</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2004-W6, Class M1 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.980</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/25/34</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>258,413</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>251,420</FONT>&nbsp;</TD></TR>

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   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Bravo Mortgage Asset Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2006-1A, Class A2 (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.395</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/25/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>653,140</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>606,106</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Chase Issuance Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2014-A6, Class A</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.260</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>07/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>541,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>539,171</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Citibank Credit Card Issuance Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2007-A8, Class A8</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.650</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/20/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>375,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>422,641</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Citicorp Residential Mortgage Securities, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2007-2, Class A6</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.729</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/25/37</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>261,404</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>270,352</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>CKE Restaurant Holdings, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-1A, Class A2 (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.474</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/20/43</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,094,094</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,115,232</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>ContiMortgage Home Equity Loan Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 1995-2, Class A5</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.100</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/15/25</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>27,800</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>26,997</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Countrywide Asset-Backed Certificates</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2004-10, Class AF5B</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.417</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>02/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>509,379</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>520,862</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Credit Suisse Mortgage Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2006-CF2, Class M1 (P) (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.625</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/25/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>735,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>708,586</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Dominos Pizza Master Issuer LLC</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-1A, Class A2 (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.216</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/25/42</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>703,430</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>749,719</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Encore Credit Receivables Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-2, Class M2 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.845</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>11/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>600,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>585,547</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Ford Credit Floorplan Master Owner Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-5, Class A</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1.490</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/15/19</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>445,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>443,173</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>GSAA Home Equity Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-11, Class 3A1 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.425</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>645,966</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>606,587</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>GSAA Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-10, Class M3 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.705</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>06/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>675,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>641,240</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Home Equity Mortgage Loan Asset-Backed Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-C, Class AII3 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.525</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>455,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>434,662</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>13</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<HR align=center SIZE=2 width="100%" noShade>



<!--$$/page=--><A name="page_15"></A><BR>

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

<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Asset Backed Securities (continued)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Merrill Lynch Mortgage Investors, Inc.</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2005-WMC1, Class M1 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.905</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>09/25/35</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$256,559</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$241,032</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Sonic Capital LLC</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2011-1A, Class A2 (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5.438</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/20/41</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>367,965</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>389,887</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Soundview Home Loan Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2006-OPT2, Class A3 (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.335</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>05/25/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>217,619</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>201,991</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Specialty Underwriting &amp; Residential Finance Trust</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2006-BC1, Class A2D (P)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>0.455</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12/25/36</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,090,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,049,517</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Westgate Resorts LLC</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-2A, Class A (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/20/25</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>306,491</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>309,406</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-2A, Class B (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>01/20/25</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>875,689</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>890,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-3A, Class A (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>2.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/20/25</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>235,348</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>236,842</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2012-3A, Class B (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4.500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/20/25</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>483,214</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>491,916</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>Series 2013-1A, Class B (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3.750</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>08/20/25</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>159,435</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>160,934</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Shares</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5></TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Common Stocks 6.2% (4.2% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$11,446,833</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="99%" colSpan=5 noWrap align=left><FONT size=2 face=sans-serif>

   <HR SIZE=1 noShade>

</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>(Cost $9,767,847)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Consumer Discretionary 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>661,920</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Hotels, Restaurants &amp; Leisure 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>McDonald's Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>7,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>661,920</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Consumer Staples 0.9%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>1,623,875</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Food Products 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Kraft Foods Group, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>15,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>803,775</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif></FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Tobacco 0.5%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Philip Morris International, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>10,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>820,100</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Energy 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>654,640</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Oil, Gas &amp; Consumable Fuels 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Royal Dutch Shell PLC, ADR (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>654,640</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Financials 0.7%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>1,392,435</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Banks 0.3%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>U.S. Bancorp (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>14,500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>609,435</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Real Estate Investment Trusts 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Weyerhaeuser Company (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>25,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>783,000</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Health Care 1.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>2,247,123</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Pharmaceuticals 1.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Johnson &amp; Johnson (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8,258</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>826,543</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Pfizer, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>24,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>688,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Sanofi, ADR (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>14,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>731,780</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Industrials 0.8%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>1,528,160</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Commercial Services &amp; Supplies 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Republic Services, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>20,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>758,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=1 face=sans-serif>Machinery 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Stanley Black &amp; Decker, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8,800</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>769,560</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>14</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<HR align=center SIZE=2 width="100%" noShade>



<!--$$/page=--><A name="page_16"></A><BR>

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

<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="69%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Shares</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>Information Technology 0.9%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$1,642,940</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=3>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>Semiconductors &amp; Semiconductor Equipment 0.5%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>Intel Corp. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>26,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>881,140</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>Technology Hardware, Storage &amp; Peripherals 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>Seagate Technology PLC (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>13,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>761,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>Materials 0.5%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>964,650</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=3>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>Chemicals 0.5%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>E.I. du Pont de Nemours &amp; Company (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>15,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>964,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>Telecommunication Services 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>731,090</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=3>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>Diversified Telecommunication Services 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>Verizon Communications, Inc. (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>14,500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>731,090</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=3>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Shares</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=3>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>Preferred Securities (b) 2.0% (1.4% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$3,721,803</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="99%" colSpan=3 noWrap align=left><FONT size=2 face=sans-serif>

   <HR SIZE=1 noShade>

 </FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>(Cost $3,636,896)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>Consumer Staples 0.3%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>562,500</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=3>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>Food &amp; Staples Retailing 0.3%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>Ocean Spray Cranberries, Inc., Series A, 6.250% (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6,250</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>562,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>Financials 1.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>1,812,487</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=3>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>Banks 0.3%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>FNB Corp. (7.250% to 2-15-24, then 3 month LIBOR + 4.600%)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>245,970</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>Wells Fargo &amp; Company, Series L, 7.500%</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>192</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>232,320</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>Capital Markets 0.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>The Goldman Sachs Group, Inc., 5.500% (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>12,425</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>297,703</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>Consumer Finance 0.5%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>Ally Financial, Inc., 7.000% (S)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>526</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>523,370</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>GMAC Capital Trust I (8.125% to 2-15-16, then 3 month LIBOR +</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="69%" noWrap align=left><FONT size=2 face=sans-serif>5.785%) (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>15,500</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>421,290</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>Real Estate Investment Trusts 0.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>Weyerhaeuser Company, 6.375%</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>1,700</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>91,834</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>Industrials 0.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>362,208</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=3>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>Aerospace &amp; Defense 0.2%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>United Technologies Corp., 7.500% (Z)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>6,106</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>362,208</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>Telecommunication Services 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>290,575</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=3>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>Diversified Telecommunication Services 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>Intelsat SA, 5.750%</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>5,900</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>290,575</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=2 face=sans-serif>Utilities 0.4%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>694,033</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=3>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>Electric Utilities 0.1%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>Exelon Corp., 6.500%</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>4,341</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>213,143</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>

   <TD width="15%" noWrap align=left></TD>

   <TD width="15%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><B><FONT size=1 face=sans-serif>Multi-Utilities 0.3%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="69%" noWrap align=left><FONT size=2 face=sans-serif>Dominion Resources, Inc., 6.375%</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>9,485</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>480,890</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>15</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<HR align=center SIZE=2 width="100%" noShade>



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

<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Escrow Certificates 0.0% (0.0% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$123</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>(Cost $0)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Materials 0.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>123</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>Smurfit-Stone Container Corp. (I)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>8.000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>03/15/17</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>$245,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>123</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Short-Term Investments 1.7% (1.2% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$3,160,000</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="99%" colSpan=5 noWrap align=left><FONT size=2 face=sans-serif>

   <HR SIZE=1 noShade>

</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><FONT size=2 face=sans-serif>(Cost $3,160,000)</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Repurchase Agreement 1.7%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>3,160,000</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="54%" colSpan=2 noWrap align=left><FONT size=2 face=sans-serif>Repurchase Agreement with State Street Corp., dated 7-31-14 at</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="54%" colSpan=2 noWrap align=left><FONT size=2 face=sans-serif>0.000% to be repurchased at $3,160,000 on 8-1-14, collateralized</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="54%" colSpan=2 noWrap align=left><FONT size=2 face=sans-serif>by $3,240,000 Federal Home Loan Mortgage Corp., 1.000% due 9-</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6px" width="39%" noWrap align=left><FONT size=2 face=sans-serif>27-17 (valued at $3,223,800, including interest)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 6px" width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3,160,000</FONT>&nbsp;</TD>

   <TD width="15%" noWrap align=right><FONT size=2 face=sans-serif>3,160,000</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Total investments (Cost $264,222,781)&#8224; 148.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$275,034,684</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Other assets and liabilities, net (48.0%)</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>($89,171,706)</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=5>

   <HR SIZE=1 noShade>

&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="39%" noWrap align=left><B><FONT size=2 face=sans-serif>Total net assets 100.0%</FONT></B>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=left>&nbsp;</TD>

   <TD width="15%" noWrap align=right><B><FONT size=2 face=sans-serif>$185,862,978</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="99%" colSpan=5 noWrap align=left><B><FONT size=2 face=sans-serif>

   <HR SIZE=1 noShade>

</FONT></B><B><FONT size=2 face=sans-serif></FONT></B></TD></TR></TABLE></DIV>

<P style="MARGIN: 0px"><FONT size=2 face=sans-serif><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 size=2 face=sans-serif>ADR American Depositary Receipts</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>IO Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period.</FONT></P>

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

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>PIK Paid-in-kind</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>USGG U.S. Generic Government Yield Index</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(a) Includes hybrid securities with characteristics of both equity and debt that trade with, and pay, interest income.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(b) Includes preferred stocks and hybrid securities with characteristics of both equity and debt that pay dividends on a periodic basis.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(H) Non-income producing - Issuer is in default.</FONT></P>

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

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(M) Term loans are variable rate obligations. The coupon rate shown represents the rate at period end.</FONT></P>

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

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

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(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 $62,611,920 or 33.7% of the fund's net assets as of 7-31-14.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(T) This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(Z) All or a portion of this security is pledged as collateral pursuant to the Credit Facility Agreement. Total collateral value at 7-31-14 was $147,045,077.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>16</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<HR align=center SIZE=2 width="100%" noShade>



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<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>&#8224; At 7-31-14, the aggregate cost of investment securities for federal income tax purposes was $265,477,079. Net unrealized appreciation aggregated $9,557,605, of which $13,697,433 related to appreciated investment securities and $4,139,828 related to depreciated investment securities.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>17</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<HR align=center SIZE=2 width="100%" noShade>



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<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Notes to Portfolio of Investments</FONT></B></P>

<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Security valuation. </FONT></B><FONT size=2 face=sans-serif>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 size=1 face=sans-serif>P</FONT><FONT size=2 face=sans-serif>.</FONT><FONT size=1 face=sans-serif>M</FONT><FONT size=2 face=sans-serif>., Eastern Time. In order to value the securities, the fund uses the following valuation techniques: Equity securities held by the fund are valued at the last sale price or official closing price on the exchange where the security was acquired or most likely will be sold. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Debt obligations are valued based on the evaluated prices provided by an independent pricing vendor or from broker-dealers. Independent pricing vendors utilize matrix pricing which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Swaps are valued using evaluated prices obtained from an independent pricing vendor. Securities that trade only in the over-the-counter (OTC) market are valued using bid prices. Certain short-term securities with maturities of 60 days or less at the time of purchase are valued at amortized cost. Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the fund&#8217;s Pricing Committee following procedures established by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>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 other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the fund&#8217;s own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>The following is a summary of the values by input classification of the fund&#8217;s investments as of July 31, 2014, by major security category or type:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="16%"></TD>

   <TD width="17%"></TD>

   <TD width="16%"></TD>

   <TD width="17%"></TD>

   <TD width="17%"></TD>

   <TD width="16%"></TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=left></TD>

   <TD width="16%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif>Level 2</FONT></B>&nbsp;</TD>

   <TD width="16%" noWrap align=right><B><FONT size=1 face=sans-serif>Level 3</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD>

   <TD width="16%" noWrap align=right><B><FONT size=1 face=sans-serif>Total Market</FONT></B>&nbsp;</TD>

   <TD width="17%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif>Significant</FONT></B>&nbsp;</TD>

   <TD width="16%" noWrap align=right><B><FONT size=1 face=sans-serif>Significant</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD>

   <TD width="16%" noWrap align=right><B><FONT size=1 face=sans-serif>Value at</FONT></B>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif>Level 1 Quoted</FONT></B>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif>Observable</FONT></B>&nbsp;</TD>

   <TD width="16%" noWrap align=right><B><FONT size=1 face=sans-serif>Unobservable</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD>

   <TD width="16%" noWrap align=right><B><FONT size=1 face=sans-serif>7-31-14</FONT></B>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif>Price</FONT></B>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif>Inputs</FONT></B>&nbsp;</TD>

   <TD width="16%" noWrap align=right><B><FONT size=1 face=sans-serif>Inputs</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=1 face=sans-serif>Corporate Bonds</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>$128,769,494</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>$128,739,785</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>$29,709</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=1 face=sans-serif>Term Loans</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>1,215,025</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>1,215,025</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=1 face=sans-serif>Capital Preferred Securities</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>4,210,739</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>4,210,739</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=1 face=sans-serif>U.S. Government &amp; Agency Obligations</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>76,249,546</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>76,249,546</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=1 face=sans-serif>Foreign Government Obligations</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>286,997</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>286,997</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=1 face=sans-serif>Collateralized Mortgage Obligations</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>32,206,418</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>31,356,935</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>849,483</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=1 face=sans-serif>Asset Backed Securities</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>13,767,706</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>13,767,706</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=1 face=sans-serif>Common Stocks</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>11,446,833</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>$11,446,833</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=1 face=sans-serif>Preferred Securities</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>3,721,803</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>2,389,963</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>1,331,840</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=1 face=sans-serif>Escrow Certificates</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>123</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>123</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=1 face=sans-serif>Short-Term Investments</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>3,160,000</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>3,160,000</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="16%">&nbsp;</TD>

   <TD width="17%"></TD>

   <TD width="66%" colSpan=4>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><B><FONT size=1 face=sans-serif>Total Investments in Securities</FONT></B>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD>

   <TD width="16%" noWrap align=right><B><FONT size=1 face=sans-serif>$275,034,684</FONT></B>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif>$13,836,796</FONT></B>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif>$260,318,696</FONT></B>&nbsp;</TD>

   <TD width="16%" noWrap align=right><B><FONT size=1 face=sans-serif>$879,192</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><B><FONT size=1 face=sans-serif>Other Financial Instruments:</FONT></B>&nbsp;</TD>

   <TD width="17%" noWrap align=left></TD>

   <TD width="16%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=left>&nbsp;</TD>

   <TD width="16%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><B><FONT size=1 face=sans-serif>Interest Rate Swaps</FONT></B>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD>

   <TD width="16%" noWrap align=right><B><FONT size=1 face=sans-serif>($481,904)</FONT></B>&nbsp;</TD>

   <TD width="17%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=right><B><FONT size=1 face=sans-serif>($481,904)</FONT></B>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=1 face=sans-serif>&#8212;</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Repurchase agreements. </FONT></B><FONT size=2 face=sans-serif>The fund may enter into repurchase agreements. When the fund enters into a repurchase agreement, it receives collateral that is held in a segregated account by the fund&#8217;s custodian. The collateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. Collateral received by the fund for repurchase agreements is disclosed in the fund&#8217;s investments as part of the caption related to the repurchase agreement.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/or Global Master Repurchase Agreement (collectively, MRA). Upon an event of default, the non-defaulting party may close out all transactions traded under the MRA and net amounts owed. Absent an event of default, the MRA does not result in an offset of the net amounts owed. In the event of a default by the counterparty, realization of the collateral proceeds</FONT></P>

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<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>18</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<HR align=center SIZE=2 width="100%" noShade>



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<P style="TEXT-ALIGN: left"><B><FONT size=5 face=serif>John Hancock Income Securities Trust</FONT></B><BR><B><FONT size=3 face=serif>As of 7-31-14 (Unaudited)</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>could be delayed, during which time the collateral value may decline or the counterparty may have insufficient assets to pay back claims resulting from close-out of the transactions.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Stripped securities. </FONT></B><FONT size=2 face=sans-serif>Stripped securities are financial instruments structured to separate principal and interest cash flows so that one class receives principal payments from the underlying assets (PO or principal only), while the other class receives the interest cash flows (IO or interest only). Both PO and IO investments represent an interest in the cash flows of an underlying stripped security. If the underlying assets experience greater than anticipated prepayments of principal, the 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 or prepayments on the underlying securities. In addition, these securities present additional 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"><B><FONT size=2 face=sans-serif>Derivative instruments. </FONT></B><FONT size=2 face=sans-serif>The fund may invest in derivatives in order to meet its investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the fund is exposed to the risk that the counterparty to OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Interest rate swaps. </FONT></B><FONT size=2 face=sans-serif>Interest rate swaps represent an agreement between the fund and a counterparty to exchange cash flows based on the difference between two interest rates applied to a notional amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other. The fund settles accrued net interest receivable or payable under the swap contracts at specified, future intervals. Swap agreements are privately negotiated in the OTC market or may be executed on a registered commodities exchange (centrally cleared swaps). </FONT><FONT size=2 face=sans-serif>Swaps are marked-to-market daily and the change in value is recorded as unrealized appreciation/depreciation of swap contracts. A termination payment by the counterparty or the fund is recorded as realized gain or loss, as well as the net periodic payments received or paid by the fund. The value of the swap will typically impose collateral posting obligations on the party that is considered out-of-the-money on the swap.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>During the period ended July 31, 2014, the fund used interest rate swaps in anticipation of rising interest rates. The following table summarizes the interest rate swap contracts held as of July 31, 2014.</FONT></P>

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<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="16%"></TD>

   <TD width="17%"></TD>

   <TD width="16%" colSpan=2></TD>

   <TD width="17%"></TD>

   <TD width="17%"></TD>

   <TD width="16%"></TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>USD</FONT>&nbsp;</TD>

   <TD width="16%" colSpan=2 noWrap align=left><FONT size=2 face=sans-serif>PAYMENTS</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>PAYMENTS</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=left>&nbsp;</TD>

   <TD width="16%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>NOTIONAL</FONT>&nbsp;</TD>

   <TD width="16%" colSpan=2 noWrap align=left><FONT size=2 face=sans-serif>MADE BY</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>RECEIVED BY</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>MATURITY</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=2 face=sans-serif>MARKET</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=2 face=sans-serif>COUNTERPARTY</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>AMOUNT</FONT>&nbsp;</TD>

   <TD width="16%" colSpan=2 noWrap align=left><FONT size=2 face=sans-serif>FUND</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>FUND</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>DATE</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=2 face=sans-serif>VALUE</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=7>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=2 face=sans-serif>Morgan Stanley</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=left>&nbsp;</TD>

   <TD width="8%" noWrap align=center><FONT size=2 face=sans-serif>Fixed</FONT>&nbsp;</TD>

   <TD width="8%" noWrap align=center>&nbsp;</TD>

   <TD width="17%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=left>&nbsp;</TD>

   <TD width="16%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=2 face=sans-serif>Capital Services</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>$22,000,000</FONT>&nbsp;</TD>

   <TD width="8%" noWrap align=center><FONT size=2 face=sans-serif>1.442500%</FONT>&nbsp;</TD>

   <TD width="8%" noWrap align=center>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>3 Month LIBOR (a)</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>Aug 2016</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=2 face=sans-serif>($452,079)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=2 face=sans-serif>&nbsp;</FONT></TD>

   <TD width="17%" noWrap align=left></TD>

   <TD width="16%" colSpan=2 noWrap align=center><FONT size=2 face=sans-serif></FONT></TD>

   <TD width="17%" noWrap align=left></TD>

   <TD width="17%" noWrap align=left></TD>

   <TD width="16%" noWrap align=left></TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=2 face=sans-serif>Morgan Stanley</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=left>&nbsp;</TD>

   <TD width="8%" noWrap align=center><FONT size=2 face=sans-serif>Fixed</FONT>&nbsp;</TD>

   <TD width="8%" noWrap align=center>&nbsp;</TD>

   <TD width="17%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=left>&nbsp;</TD>

   <TD width="16%" noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><FONT size=2 face=sans-serif>Capital Services</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>$22,000,000</FONT>&nbsp;</TD>

   <TD width="8%" noWrap align=center><FONT size=2 face=sans-serif>1.093750%</FONT>&nbsp;</TD>

   <TD width="8%" noWrap align=center>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>3 Month LIBOR (a)</FONT>&nbsp;</TD>

   <TD width="17%" noWrap align=left><FONT size=2 face=sans-serif>May 2017</FONT>&nbsp;</TD>

   <TD width="16%" noWrap align=right><FONT size=2 face=sans-serif>(29,825)</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=7>

   <HR SIZE=1 noShade>

</TD></TR>

<TR vAlign=bottom>

   <TD width="16%" noWrap align=left><B><FONT size=2 face=sans-serif>TOTAL</FONT></B>&nbsp;</TD>

   <TD width="17%" noWrap align=left><B><FONT size=2 face=sans-serif>$44,000,000</FONT></B>&nbsp;</TD>

   <TD width="16%" colSpan=2 noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=left>&nbsp;</TD>

   <TD width="17%" noWrap align=left>&nbsp;</TD>

   <TD width="16%" noWrap align=right><B><FONT size=2 face=sans-serif>($481,904)</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

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

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(a) At 7-31-14, the 3-month LIBOR rate was 0.23910%</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>No interest rate swap positions were entered into or closed during the period ended July 31, 2014.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>For additional information on the fund&#8217;s significant accounting policies, please refer to the fund&#8217;s most recent semiannual or annual shareholder report.</FONT></P>

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<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=serif>19</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

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<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>ITEM 2. CONTROLS AND PROCEDURES.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(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 size=2 face=sans-serif>(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 size=2 face=sans-serif>ITEM 3. EXHIBITS.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>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></DIV>

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<TR>

   <TD width="100%"></TD></TR>

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   <TD noWrap align=center><FONT size=2 face=sans-serif>SIGNATURES</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>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 size=2 face=sans-serif>John Hancock Income Securities Trust</FONT></P>

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<TR>

   <TD width="3%"></TD>

   <TD width="97%"></TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left><FONT size=2 face=sans-serif>By:</FONT>&nbsp;</TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif>/s/Andrew Arnott</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left>&nbsp;</TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif>------------------------------</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left></TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif><FONT size=2 face=sans-serif>Andrew Arnott</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left>&nbsp;</TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif>President</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=2>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=2>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left><FONT size=2 face=sans-serif>Date:</FONT>&nbsp;</TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif>September 23, 2014</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>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>

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<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="3%"></TD>

   <TD width="97%"></TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left><FONT size=2 face=sans-serif>By:</FONT>&nbsp;</TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif>/s/Andrew Arnott</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left>&nbsp;</TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif>-------------------------------</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left></TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif><FONT size=2 face=sans-serif>Andrew Arnott</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left>&nbsp;</TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif>President</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=2>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left><FONT size=2 face=sans-serif>Date:</FONT>&nbsp;</TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif>September 23, 2014</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=2>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left><FONT size=2 face=sans-serif>By:</FONT>&nbsp;</TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif>/s/Charles A. Rizzo</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left>&nbsp;</TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif>-------------------------------</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left></TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif><FONT size=2 face=sans-serif>Charles A. Rizzo</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left>&nbsp;</TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif>Chief Financial Officer</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=2>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="3%" noWrap align=left><FONT size=2 face=sans-serif>Date:</FONT>&nbsp;</TD>

   <TD width="97%" noWrap align=left><FONT size=2 face=sans-serif>September 23, 2014</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>b_incomesecuritiescerts.htm
<DESCRIPTION>CERTIFICATION
<TEXT>

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   <TITLE>b_incomesecuritiescerts.htm</TITLE>
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<!--$$/page=--><A name="page_1"></A><BR>

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

<P style="TEXT-ALIGN: left"><B><U><FONT size=2 face=sans-serif>CERTIFICATION</FONT></U></B></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>I, Andrew Arnott, certify that:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>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 size=2 face=sans-serif>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 size=2 face=sans-serif>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 size=2 face=sans-serif>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 size=2 face=sans-serif>(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 size=2 face=sans-serif>(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 size=2 face=sans-serif>(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 size=2 face=sans-serif>(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 size=2 face=sans-serif>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 size=2 face=sans-serif>(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 size=2 face=sans-serif>(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>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="33%"></TD>

   <TD width="33%"></TD>

   <TD width="33%"></TD></TR>

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   <TD width="33%" noWrap align=left><FONT size=2 face=sans-serif>Date: </FONT><FONT size=2 face=sans-serif><U>September 23, 2014</U></FONT>&nbsp;</TD>

   <TD width="33%" noWrap align=left><U><FONT size=2 face=sans-serif></FONT></U></TD>

   <TD width="33%" noWrap align=left><U><FONT size=2 face=sans-serif>/s/Andrew Arnott</FONT>&nbsp;</U></TD></TR>

<TR vAlign=bottom>

   <TD width="33%" noWrap align=left>&nbsp;</TD>

   <TD width="33%" noWrap align=left><FONT size=2 face=sans-serif></FONT></TD>

   <TD width="33%" noWrap align=left><FONT size=2 face=sans-serif>Andrew Arnott</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="33%" noWrap align=left>&nbsp;</TD>

   <TD width="33%" noWrap align=left><FONT size=2 face=sans-serif></FONT></TD>

   <TD width="33%" noWrap align=left><FONT size=2 face=sans-serif>President</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

<HR align=center SIZE=2 width="100%" noShade>



<!--$$/page=--><A name="page_2"></A><BR>

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

<P style="TEXT-ALIGN: left"><B><U><FONT size=2 face=sans-serif>CERTIFICATION</FONT></U></B></P>

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

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>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 size=2 face=sans-serif>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 size=2 face=sans-serif>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 size=2 face=sans-serif>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 size=2 face=sans-serif>(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 size=2 face=sans-serif>(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 size=2 face=sans-serif>(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 size=2 face=sans-serif>(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 size=2 face=sans-serif>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 size=2 face=sans-serif>(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 size=2 face=sans-serif>(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>

<DIV align=left>

<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



<TR>

   <TD width="33%"></TD>

   <TD width="33%"></TD>

   <TD width="33%"></TD></TR>

<TR vAlign=bottom>

   <TD width="33%" noWrap align=left><FONT size=2 face=sans-serif>Date: </FONT><FONT size=2 face=sans-serif><U>September 23, 2014</U></FONT>&nbsp;</TD>

   <TD width="33%" noWrap align=left><U><FONT size=2 face=sans-serif></FONT></U></TD>

   <TD width="33%" noWrap align=left><FONT size=2 face=sans-serif><U>/s/Charles A. Rizzo</U></FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="33%" noWrap align=left>&nbsp;</TD>

   <TD width="33%" noWrap align=left><FONT size=2 face=sans-serif></FONT></TD>

   <TD width="33%" noWrap align=left><FONT size=2 face=sans-serif>Charles A. Rizzo</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="33%" noWrap align=left>&nbsp;</TD>

   <TD width="33%" noWrap align=left><FONT size=2 face=sans-serif></FONT></TD>

   <TD width="33%" noWrap align=left><FONT size=2 face=sans-serif>Chief Financial Officer</FONT>&nbsp;</TD></TR></TABLE></DIV>

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

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</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>incomesecuritiesx1x1.jpg
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
