John Hancock

Premium Dividend Fund

Quarterly portfolio holdings 1/31/16

	As of 1-31-16 (unaudited)
																Shares			Value
	Preferred securities 102.2% (67.6% of Total investments)																		$753,456,842
	(Cost $711,235,120)
	Consumer staples 2.6%																		19,390,627
	Food and staples retailing 2.6%
	Ocean Spray Cranberries, Inc., Series A, 6.250% (S)															224,250			19,390,627
	Energy 1.2%																		9,193,108
	Oil, gas and consumable fuels 1.2%
	Kinder Morgan, Inc., 9.750% (Z)															213,050			9,193,108
	Financials 59.0%																		434,703,034
	Banks 31.8%
	Bank of America Corp., 6.375% (Z)															980,000			25,048,800
	Bank of America Corp., 6.625% (Z)															360,000			9,540,000
	Bank of America Corp., Depositary Shares, Series D, 6.204% (Z)															630,000			16,335,900
	Barclays Bank PLC, Series 3, 7.100%															192,500			5,005,000
	Barclays Bank PLC, Series 5, 8.125%															310,000			8,159,200
	BB&T Corp., 5.625% (Z)															770,000			19,881,400
	BB&T Corp. (Callable 11-1-17), 5.200% (Z)															205,000			5,178,300
	BB&T Corp. (Callable 6-1-18), 5.200% (Z)															110,000			2,783,000
	Citigroup, Inc. (6.875% to 11-15-23, then 3 month LIBOR + 4.130%) (Z)															127,223			3,494,816
	Citigroup, Inc. (7.125% to 9-30-23, then 3 month LIBOR + 4.040%) (Z)															40,000			1,090,800
	Citigroup, Inc., Depositary Shares, Series AA, 8.125% (Z)															338,830			9,494,017
	JPMorgan Chase & Co., 5.450% (Z)															490,000			12,357,800
	JPMorgan Chase & Co., 5.500% (Z)															200,000			5,042,000
	JPMorgan Chase & Co., 6.100% (Z)															650,000			16,672,500
	JPMorgan Chase & Co., 6.300% (Z)															245,000			6,392,050
	JPMorgan Chase & Co., 6.700% (Z)															35,000			957,250
	Santander Holdings USA, Inc., Series C, 7.300%															500,000			12,705,000
	The PNC Financial Services Group, Inc., 5.375% (Z)															180,000			4,618,800
	The PNC Financial Services Group, Inc. (6.125% to 5-1-22, then 3 month LIBOR + 4.067%) (Z)															311,600			8,687,408
	U.S. Bancorp, 5.150% (Z)															500,000			12,950,000
	U.S. Bancorp (6.000% to 4-15-17, then 3 month LIBOR + 4.861%) (Z)															160,000			4,233,600
	U.S. Bancorp (6.500% to 1-15-22, then 3 month LIBOR + 4.468%) (Z)															351,000			10,014,030
	Wells Fargo & Company, 6.000% (Z)															205,000			5,387,400
	Wells Fargo & Company, 8.000% (Z)															1,017,000			28,476,000
	Capital markets 18.0%
	Deutsche Bank Contingent Capital Trust II, 6.550% (Z)															287,000			7,241,010
	Deutsche Bank Contingent Capital Trust III, 7.600%															662,000			16,993,540
	Morgan Stanley, 6.625% (Z)															842,557			22,572,102
	Morgan Stanley (6.375% to 10-15-24, then 3 month LIBOR + 3.708%) (Z)															249,227			6,477,410
	Morgan Stanley (7.125% to 10-15-23, then 3 month LIBOR + 4.320%) (Z)															300,000			8,529,000
	State Street Corp., 5.250% (Z)															1,015,000			26,166,700
	State Street Corp., 6.000% (Z)															80,000			2,106,400
	State Street Corp. (5.900% to 3-15-24, then 3 month LIBOR + 3.108%) (Z)															25,000			672,500
	The Bank of New York Mellon Corp., 5.200% (Z)															442,000			11,399,180
	The Goldman Sachs Group, Inc., 5.950% (Z)															920,000			23,763,600
	The Goldman Sachs Group, Inc., Series B, 6.200% (Z)															250,000			6,472,500
	Consumer finance 5.5%
	Capital One Financial Corp., 6.000% (Z)															100,000			2,592,000

																Shares			Value
	Financials  (continued)
	Consumer finance  (continued)
	Capital One Financial Corp., 6.250% (Z)															81,196			$2,132,207
	Capital One Financial Corp., 6.700% (Z)															105,000			2,858,100
	Capital One Financial Corp., 6.200% (Z)															80,000			2,088,800
	HSBC Finance Corp., Depositary Shares, Series B, 6.360%															454,000			11,645,100
	SLM Corp., Series A, 6.970%															445,500			19,454,985
	Insurance 1.7%
	Aegon NV, 6.500% (Z)															75,000			1,955,250
	Prudential Financial, Inc., 5.750% (Z)															50,000			1,304,000
	Prudential PLC, 6.750% (Z)															175,000			4,581,500
	W.R. Berkley Corp., 5.625% (Z)															190,377			4,807,019
	Real estate investment trusts 2.0%
	Senior Housing Properties Trust, 5.625% (Z)															510,000			12,714,300
	Ventas Realty LP, 5.450% (Z)															63,000			1,670,760
	Industrials 0.5%																		3,469,500
	Machinery 0.5%
	Stanley Black & Decker, Inc., 5.750% (Z)															135,000			3,469,500
	Telecommunication services 6.7%																		49,304,595
	Diversified telecommunication services 4.1%
	Qwest Corp., 6.125%															107,500			2,660,625
	Qwest Corp., 7.375%															1,021,000			26,168,230
	Verizon Communications, Inc., 5.900% (Z)															60,000			1,593,540
	Wireless telecommunication services 2.6%
	Telephone & Data Systems, Inc., 5.875% (Z)															100,000			2,491,000
	Telephone & Data Systems, Inc., 6.625% (Z)															285,000			7,390,050
	Telephone & Data Systems, Inc., 6.875% (Z)															170,000			4,329,900
	United States Cellular Corp., 6.950% (Z)															185,000			4,671,250
	Utilities 32.2%																		237,395,978
	Electric utilities 25.3%
	Duke Energy Corp., 5.125% (Z)															180,000			4,629,600
	Entergy Arkansas, Inc., 6.450%															650,000			16,497,000
	Entergy Mississippi, Inc., 6.250% (Z)															667,000			16,875,100
	Gulf Power Company, 5.600%															52,400			5,323,400
	HECO Capital Trust III, 6.500%															181,000			4,677,221
	Interstate Power & Light Company, 5.100%															1,340,000			34,505,000
	NextEra Energy Capital Holdings, Inc., 5.125% (Z)															185,000			4,647,200
	NextEra Energy Capital Holdings, Inc., 5.700% (Z)															320,000			8,214,400
	NSTAR Electric Company, 4.250%															13,347			1,261,292
	NSTAR Electric Company, 4.780%															100,000			9,700,000
	PPL Capital Funding, Inc., 5.900% (Z)															1,450,320			37,650,307
	SCE Trust I, 5.625%															265,000			6,882,050
	SCE Trust II, 5.100%															1,208,500			30,115,820
	The Southern Company, 6.250% (Z)															155,000			4,105,950
	Union Electric Company, 3.700%															12,262			1,195,929
	Multi-utilities 6.9%
	Baltimore Gas & Electric Company, Series 1993, 6.700%															20,250			2,038,290
	Baltimore Gas & Electric Company, Series 1995, 6.990%															134,000			13,546,569

																Shares			Value
	Utilities  (continued)
	Multi-utilities  (continued)
	BGE Capital Trust II, 6.200%															690,000			$18,229,800
	DTE Energy Company, 5.250% (Z)															235,000			5,898,500
	DTE Energy Company, 6.500% (Z)															180,000			4,708,800
	Integrys Holding, Inc. (6.000% to 8-1-23, then 3 month LIBOR + 3.220%)															255,000			6,693,750
	Common stocks 49.0% (32.3% of Total investments)																		$360,747,512
	(Cost $272,389,487)
	Energy 7.5%																		55,587,408
	Oil, gas and consumable fuels 7.5%
	Chevron Corp. (L)(Z)															67,000			5,793,490
	Columbia Pipeline Group, Inc.															360,000			6,678,000
	ConocoPhillips (L)(Z)															90,000			3,517,200
	Kinder Morgan, Inc.															262,000			4,309,900
	Royal Dutch Shell PLC, ADR, Class A															214,500			9,422,985
	Spectra Energy Corp.															942,289			25,865,833
	Telecommunication services 3.0%																		21,754,700
	Diversified telecommunication services 3.0%
	AT&T, Inc. (L)(Z)															340,000			12,260,400
	Verizon Communications, Inc. (L)(Z)															190,000			9,494,300
	Utilities 38.5%																		283,405,404
	Electric utilities 17.2%
	American Electric Power Company, Inc.															200,000			12,194,000
	Avangrid, Inc. (I)(L)(Z)															381,500			14,668,675
	Duke Energy Corp.															285,000			21,460,500
	Eversource Energy (L)(Z)															560,000			30,128,000
	FirstEnergy Corp. (L)(Z)															301,450			9,965,937
	OGE Energy Corp. (L)(Z)															430,000			11,278,900
	Pinnacle West Capital Corp.															50,000			3,315,500
	PPL Corp.															240,000			8,414,400
	The Southern Company															75,000			3,669,000
	Xcel Energy, Inc. (L)(Z)															300,000			11,466,000
	Gas utilities 2.6%
	AGL Resources, Inc.															70,000			4,449,200
	Atmos Energy Corp. (L)(Z)															80,000			5,537,600
	ONE Gas, Inc.															42,500			2,403,800
	Questar Corp. (L)(Z)															332,800			6,785,792
	Multi-utilities 18.7%
	Alliant Energy Corp.															400,000			26,136,000
	Black Hills Corp.															220,000			10,841,600
	CenterPoint Energy, Inc. (L)(Z)															1,065,000			19,031,550
	Dominion Resources, Inc.															240,000			17,320,800
	DTE Energy Company (L)(Z)															250,000			21,252,500
	National Grid PLC, ADR (L)(Z)															235,000			16,640,350
	NiSource, Inc. (L)(Z)															440,000			9,244,400
	TECO Energy, Inc. (L)(Z)															160,000			4,339,200
	Vectren Corp.															215,000			8,995,600
	WEC Energy Group, Inc.															70,000			3,866,100

																Par value^			Value
	Short-term investments 0.1% (0.1% of Total investments)																		$1,071,000
	(Cost $1,071,000)
	Repurchase agreement 0.1%																		1,071,000
	Repurchase Agreement with State Street Corp. dated 1-29-16 at 0.030% to be repurchased at $1,071,003 on 2-1-16, collateralized by $1,095,000 U.S. Treasury Notes, 0.750% due 6-30-17 (valued at $1,095,000, including interest)															1,071,000			1,071,000
	Total investments (Cost $984,695,607)† 151.3%																		$1,115,275,354
	Other assets and liabilities, net (51.3%)																		($378,309,694	)
	Total net assets 100.0%																		$736,965,660

The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.

^All par values are denominated in U.S. dollars unless otherwise indicated.

Key to Security Abbreviations and Legend

ADR

American Depositary Receipts

LIBOR

London Interbank Offered Rate

(I)

Non-income producing security.

(L)

A portion of this security is on loan as of 1-31-16, and is a component of the fund's leverage under the Liquidity Agreement. The value of securities on loan amounted to $149,621,131.

(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.

(Z)

All or a portion of this security is pledged as collateral pursuant to the Liquidity Agreement. Total collateral value at 1-31-16 was $618,869,666.

†

At 1-31-16, the aggregate cost of investment securities for federal income tax purposes was $985,810,436. Net unrealized appreciation aggregated $129,464,918, of which $147,774,221 related to appreciated investment securities and $18,309,303 related to depreciated investment securities.

Notes to Fund's investments (unaudited)

Security valuation. Investments are stated at value as of the close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 p.m., 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 or principal market 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. Swaps and unlisted options are valued using evaluated prices obtained from an independent pricing vendor. Futures contracts are valued at settlement prices, which are the official closing prices published by the exchange on which they trade. Securities that trade only in the over-the-counter (OTC) market are valued using bid prices. 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'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.

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'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 and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

The following is a summary of the values by input classification of the fund's investments as of January 31, 2016, by major security category or type:

							Total value at 1-31-16			Level 1 quoted price			Level 2 significant observable inputs			Level 3 significant unobservable inputs
	Preferred securities
				Consumer staples			$19,390,627			—			$19,390,627			—
				Energy			9,193,108			$9,193,108			—			—
				Financials			434,703,034			434,703,034			—			—
				Industrials			3,469,500			3,469,500			—			—
				Telecommunication services			49,304,595			47,711,055			1,593,540			—
				Utilities			237,395,978			191,722,940			45,673,038			—
	Common stocks
				Energy			55,587,408			55,587,408			—			—
				Telecommunication services			21,754,700			21,754,700			—			—
				Utilities			283,405,404			283,405,404			—			—
	Short-term investments						1,071,000			—			1,071,000			—
	Total investments in securities						$1,115,275,354			$1,047,547,149			$67,728,205			—
	Other financial instruments:
	Futures						($1,421,895	)		($1,421,895	)		—			—
	Interest rate swaps						(1,016,791	)		—			($1,016,791	)		—

Repurchase agreements. 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'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's investments as part of the caption related to the repurchase agreement.

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, assets and liabilities resulting from repurchase agreements are not offset. In the event of a default by the counterparty, realization of the collateral proceeds 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.

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

       6

Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument. Use of long futures contracts subjects the funds to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the funds to unlimited risk of loss.

During the period ended January 31, 2016, the fund used futures contracts to manage against anticipated interest rate changes. The following table summarizes the contracts held at January 31, 2016.

	Open contracts			Number of contracts			Position			Expiration date			Notional basis			Notional value			Unrealized appreciation (depreciation)
	10-Year U.S. Treasury Note Futures			430			Short			Mar 2016			($54,296,699	)		($55,718,594	)		($1,421,895	)

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

Interest rate swaps. 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). 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.

During the period ended January 31, 2016, the fund used interest rate swaps to manage against anticipated interest rate changes. The following table summarizes the interest rate swap contracts held as of January 31, 2016.

Counterparty

USD notional amount

Payments made by fund

Payments received by fund

Maturity date

Market value

Morgan Stanley Capital Services

$82,000,000

Fixed 1.4625%

3-month LIBOR (a)

Aug 2016

($864,070

)

Morgan Stanley Capital Services

82,000,000

Fixed 0.8750%

3-month LIBOR (a)

Jul 2017

(152,721

)

$164,000,000

($1,016,791

)

^(a) At 1-31-16, 3-month LIBOR was 0.61260%

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

       7

More information

How to contact us
Internet	www.jhinvestments.com
Mail	Computershare P.O. Box 30170 College Station, TX 77842-3170
Phone	Customer service representatives Portfolio commentary 24-hour automated information TDD line	800-852-0218 800-344-7054 800-843-0090 800-231-5469

	P2Q1	01/16
This report is for the information of the shareholders of John Hancock Premium Dividend Fund.		3/16