John Hancock

Tax-Advantaged Dividend Income Fund

Quarterly portfolio holdings 7/31/15

	As of 7-31-15 (unaudited)
																			Shares			Value
	Common stocks 72.1% (47.8% of Total investments)																					$603,117,888
	(Cost $456,634,057)
	Energy 13.6%																					113,712,306
	Oil, gas and consumable fuels 13.6%
	BP PLC, ADR																		187,500			6,931,875
	Chevron Corp. (Z)																		40,000			3,539,200
	Columbia Pipeline Group, Inc.																		770,000			22,468,600
	ConocoPhillips (Z)																		195,000			9,816,300
	Kinder Morgan, Inc. (Z)																		134,345			4,653,711
	ONEOK, Inc. (Z)																		530,000			20,028,700
	Royal Dutch Shell PLC, ADR, Class A																		264,000			15,174,720
	Spectra Energy Corp. (Z)																		930,000			28,141,800
	Total SA, ADR																		60,000			2,957,400
	Materials 0.1%																					763,750
	Metals and mining 0.1%
	Freeport-McMoRan, Inc.																		65,000			763,750
	Telecommunication services 3.8%																					31,880,746
	Diversified telecommunication services 2.8%
	AT&T, Inc. (Z)																		390,000			13,548,600
	Verizon Communications, Inc. (Z)																		214,160			10,020,546
	Wireless telecommunication services 1.0%
	Vodafone Group PLC, ADR (Z)																		220,000			8,311,600
	Utilities 54.6%																					456,761,086
	Electric utilities 23.4%
	American Electric Power Company, Inc.																		590,000			33,376,300
	Duke Energy Corp. (Z)																		320,000			23,750,400
	Eversource Energy (Z)																		657,500			32,690,900
	FirstEnergy Corp. (Z)																		582,500			19,781,700
	OGE Energy Corp. (C)																		540,000			16,070,400
	Pinnacle West Capital Corp. (Z)																		50,000			3,085,500
	PPL Corp.																		500,000			15,905,000
	The Southern Company (Z)																		375,000			16,773,750
	UIL Holdings Corp. (C)																		425,000			20,374,500
	Xcel Energy, Inc. (Z)																		405,000			14,041,350
	Gas utilities 5.9%
	AGL Resources, Inc. (Z)																		125,000			6,010,000
	Atmos Energy Corp. (Z)																		570,000			31,521,000
	Northwest Natural Gas Company (Z)																		75,000			3,246,750
	ONE Gas, Inc.																		180,000			8,105,400
	Independent power and renewable electricity producers 0.1%
	Talen Energy Corp. (I)																		62,453			982,386
	Multi-utilities 25.2%
	Alliant Energy Corp. (Z)																		195,000			11,994,450
	Ameren Corp. (Z)																		540,000			22,183,200
	Black Hills Corp.																		440,000			18,330,400
	CenterPoint Energy, Inc. (Z)																		945,000			18,276,300
	Dominion Resources, Inc. (Z)																		400,000			28,680,000
	DTE Energy Company (Z)																		250,000			20,115,000
	National Grid PLC, ADR																		255,000			16,988,100
	NiSource, Inc.																		770,000			13,444,200

																			Shares			Value
	Utilities  (continued)
	Multi-utilities  (continued)
	Public Service Enterprise Group, Inc. (Z)																		70,000			$2,916,900
	TECO Energy, Inc. (Z)																		760,000			16,811,200
	Vectren Corp. (Z)																		760,000			31,996,000
	WEC Energy Group, Inc.																		190,000			9,310,000
	Preferred securities 77.2% (51.1% of Total investments)																					$645,432,133
	(Cost $613,710,476)
	Financials 52.0%																					434,332,177
	Banks 34.2%
	Bank of America Corp., 6.375% (Z)																		139,000			3,561,180
	Bank of America Corp., 6.500%																		120,000			3,105,600
	Bank of America Corp., 6.625% (Z)																		355,000			9,169,650
	Bank of America Corp., Depositary Shares, Series D, 6.204%																		230,000			5,860,400
	Barclays Bank PLC, Series 5, 8.125% (Z)																		505,000			13,261,300
	BB&T Corp., 5.625% (Z)																		606,000			15,028,800
	BB&T Corp. (Callable 11-1-17), 5.200%																		263,900			6,357,351
	BB&T Corp. (Callable 6-1-18), 5.200%																		485,000			11,630,300
	Citigroup, Inc. (6.875% to 11-15-23, then 3 month LIBOR + 4.130%)																		20,000			548,400
	Citigroup, Inc., Depositary Shares, Series AA, 8.125% (Z)																		270,400			8,011,952
	HSBC Finance Corp., Depositary Shares, Series B, 6.360% (Z)																		700,000			17,794,000
	HSBC Holdings PLC, 8.000% (C)																		325,000			8,463,000
	HSBC Holdings PLC, 8.125% (Z)																		50,000			1,313,500
	HSBC USA, Inc., 6.500% (Z)																		19,500			498,420
	ING Groep NV, 6.200% (Z)																		109,100			2,804,961
	ING Groep NV, 7.050% (Z)																		150,000			3,882,000
	JPMorgan Chase & Co., 5.450% (Z)																		245,000			5,919,200
	JPMorgan Chase & Co., 5.500% (Z)																		987,500			23,897,500
	JPMorgan Chase & Co., 6.100%																		510,000			12,663,300
	JPMorgan Chase & Co., 6.125%																		98,888			2,470,222
	JPMorgan Chase & Co., 6.700% (Z)																		30,000			793,500
	RBS Capital Funding Trust VII, 6.080% (Z)																		983,000			24,516,020
	Royal Bank of Scotland Group PLC, Series L, 5.750% (Z)																		820,000			20,090,000
	Santander Holdings USA, Inc., Series C, 7.300% (Z)																		110,000			2,873,200
	The PNC Financial Services Group, Inc., 5.375% (C)																		480,000			11,908,800
	The PNC Financial Services Group, Inc. (6.125% to 5-1-22, then 3 month LIBOR + 4.067%) (Z)																		40,000			1,102,000
	U.S. Bancorp, 5.150% (C)																		795,000			19,691,355
	U.S. Bancorp (6.500% to 1-15-22, then 3 month LIBOR + 4.468%) (Z)																		296,000			8,486,320
	Wells Fargo & Company, 6.000% (Z)																		215,000			5,499,700
	Wells Fargo & Company, 8.000% (Z)																		1,200,000			34,200,000
	Capital markets 16.8%
	Deutsche Bank Contingent Capital Trust II, 6.550% (C)																		310,000			8,314,200
	Deutsche Bank Contingent Capital Trust III, 7.600% (Z)																		797,893			22,061,741
	Morgan Stanley, 6.625% (Z)																		1,057,915			27,717,373
	Morgan Stanley (6.375% to 10-15-24, then 3 month LIBOR + 3.708%) (Z)																		220,000			5,656,200
	Morgan Stanley (7.125% to 10-15-23, then 3 month LIBOR + 4.320%) (Z)																		300,000			8,394,000
	State Street Corp., 5.250% (Z)																		910,000			22,649,900
	State Street Corp., 6.000%																		192,065			4,905,340
	State Street Corp. (5.900% to 3-15-24, then 3 month LIBOR + 3.108%)																		25,000			649,250
	The Bank of New York Mellon Corp., 5.200% (Z)																		425,000			10,497,500
	The Goldman Sachs Group, Inc., 5.950% (C)																		950,000			23,788,000

																			Shares			Value
	Financials  (continued)
	Capital markets  (continued)
	The Goldman Sachs Group, Inc., Series B, 6.200% (Z)																		215,000			$5,480,350
	Consumer finance 0.4%
	SLM Corp., Series A, 6.970% (Z)																		74,000			3,563,840
	Insurance 0.4%
	Aegon NV, 6.500%																		96,512			2,481,324
	Prudential Financial, Inc., 5.750%																		40,000			1,019,600
	Real estate investment trusts 0.2%
	Ventas Realty LP, 5.450% (Z)																		57,591			1,457,628
	Thrifts and mortgage finance 0.0%
	Federal National Mortgage Association, Series S, 8.250% (I)																		60,000			294,000
	Industrials 0.4%																					3,216,250
	Machinery 0.4%
	Stanley Black & Decker, Inc., 5.750% (Z)																		125,000			3,216,250
	Telecommunication services 5.8%																					48,837,510
	Diversified telecommunication services 3.9%
	Qwest Corp., 6.125% (Z)																		730,000			18,359,500
	Qwest Corp., 7.375% (Z)																		366,000			9,530,640
	Qwest Corp., 7.500% (Z)																		120,000			3,175,200
	Verizon Communications, Inc., 5.900% (Z)																		73,000			1,892,890
	Wireless telecommunication services 1.9%
	Telephone & Data Systems, Inc., 5.875%																		340,000			8,173,600
	Telephone & Data Systems, Inc., 6.625% (Z)																		30,000			760,500
	Telephone & Data Systems, Inc., 6.875% (Z)																		243,000			6,186,780
	United States Cellular Corp., 6.950% (Z)																		30,000			758,400
	Utilities 19.0%																					159,046,196
	Electric utilities 16.5%
	Duke Energy Corp., 5.125% (Z)																		215,000			5,383,600
	Entergy Arkansas, Inc., 4.560%																		9,388			885,993
	Entergy Arkansas, Inc., 6.450%																		135,000			3,408,750
	Entergy Mississippi, Inc., 4.920%																		8,190			812,090
	Entergy Mississippi, Inc., 6.250% (C)																		197,500			4,937,500
	Gulf Power Company, 5.600%																		99,005			10,000,178
	Interstate Power & Light Company, 5.100%																		1,460,000			36,675,200
	Mississippi Power Company, 5.250%																		267,500			6,823,925
	NextEra Energy Capital Holdings, Inc., 5.000% (Z)																		110,000			2,597,100
	NextEra Energy Capital Holdings, Inc., 5.125% (Z)																		25,000			603,250
	NextEra Energy Capital Holdings, Inc., 5.700% (Z)																		225,000			5,690,250
	PPL Capital Funding, Inc., 5.900% (Z)																		1,010,000			25,946,900
	SCE Trust I, 5.625%																		150,000			3,742,500
	SCE Trust II, 5.100%																		1,275,000			30,625,500
	Multi-utilities 2.5%
	BGE Capital Trust II, 6.200% (Z)																		247,000			6,429,410
	DTE Energy Company, 6.500% (Z)																		175,000			4,697,000
	DTE Energy Company, 5.250%																		165,000			3,984,750
	Integrys Energy Group, Inc. (6.000% to 8-1-23, then 3 month LIBOR + 3.220%) (Z)																		210,000			5,802,300

							Rate (%				)		Maturity date			Par value^						Value
	Corporate bonds 0.4% (0.3% of Total investments)																					$3,311,250
	(Cost $3,000,000)
	Utilities 0.4%																					3,311,250
	Electric utilities 0.4%
	Southern California Edison Company (6.250% to 2-1-22, then 3 month LIBOR + 4.199%) (Q)						6.250						02-01-22			3,000,000						3,311,250
																			Par value			Value
	Short-term investments 1.2% (0.8% of Total investments)																					$9,932,000
	(Cost $9,932,000)
	Repurchase agreement 1.2%																					9,932,000
	Repurchase Agreement with State Street Corp. dated 7-31-15 at 0.000% to be repurchased at $9,932,000 on 8-3-15, collateralized by $10,075,000 U.S. Treasury Notes, 0.625% - 2.125% due 4-30-18 to 12-31-21 (valued at $10,137,444, including interest)																		9,932,000			9,932,000
	Total investments (Cost $1,083,276,533)† 150.9%																					$1,261,793,271
	Other assets and liabilities, net (50.9%)																					($425,835,601	)
	Total net assets 100.0%																					$835,957,670

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

(C)

All or a portion of this security is segregated as collateral for options. Total collateral value at 7-31-15 was $107,257,901.

(I)

Non-income producing security.

(Q)

Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.

(Z)

A portion of this security is segregated as collateral pursuant to the Committed Facility Agreement. Total collateral value at 7-31-15 was $745,583,369.

†

At 7-31-15, the aggregate cost of investment securities for federal income tax purposes was $1,090,090,502. Net unrealized appreciation aggregated $171,702,769, of which $192,865,988 related to appreciated investment securities and $21,163,219 related to depreciated investment securities.

Notes to Fund's investments

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 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. Options listed on an exchange are valued at the mean of the most recent bid and ask prices from the exchange where the option was acquired or most likely will be sold. Swaps 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 July 31, 2015, by major security category or type:

							Total value at 7-31-15			Level 1 quoted price			Level 2 significant observable inputs			Level 3 significant unobservable inputs
	Common stocks
				Energy			$113,712,306			$113,712,306			—			—
				Materials			763,750			763,750			—			—
				Telecommunication services			31,880,746			31,880,746			—			—
				Utilities			456,761,086			456,761,086			—			—
	Preferred securities
				Financials			434,332,177			434,332,177			—			—
				Industrials			3,216,250			3,216,250			—			—
				Telecommunication services			48,837,510			46,944,620			$1,892,890			—
				Utilities			159,046,196			139,001,685			20,044,511			—
	Corporate bonds						3,311,250			—			3,311,250			—
	Short-term investments						9,932,000			—			9,932,000			—
	Total investments in securities						$1,261,793,271			$1,226,612,620			$35,180,651			—
	Other financial instruments:
	Futures						($163,094	)		($163,094	)		—			—
	Written options						(1,412,775	)		(1,412,775	)		—			—
	Interest rate swaps						(1,372,594	)		—			($1,372,594	)		—

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.

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 July 31, 2015, the fund used futures contracts in anticipation of rising interest rates. The following table summarizes the contracts held at July 31, 2015.

	Open contracts			Number of contracts			Position			Expiration date			Notional basis			Notional value			Unrealized appreciation (depreciation)
	10-Year U.S. Treasury Note Futures			980			Short			Sep 2015			($124,725,656	)		($124,888,750	)		($163,094	)
																			($163,094	)

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

Options. There are two types of options, put options and call options. Options are traded either OTC or on an exchange. A call option gives the purchaser of the option the right to buy (and the seller the obligation to sell) the underlying instrument at the exercise price. A put option gives the purchaser of the option the right to sell (and the writer the obligation to buy) the underlying instrument at the exercise price. Writing puts and buying calls may increase the fund's exposure to changes in the value of the underlying instrument. Buying puts and writing calls may decrease the fund's exposure to such changes. Risks related to the use of options include the loss of premiums, possible illiquidity of the options markets, trading restrictions imposed by an exchange and movements in underlying security values. In addition, OTC options are subject to the risks of all OTC derivatives contracts.

When the fund purchases an option, the premium paid by the fund is included in the portfolio of investments and subsequently "marked-to-market" to reflect current market value. When the fund writes an option, the premium received is included as a liability and subsequently "marked-to-market" to reflect current market value of the option written.

During the period ended July 31, 2015 the fund wrote option contracts to hedge against anticipated changes in securities markets and to generate potential income. The following tables summarize the fund's written options activities during the period ended July 31, 2015 and the contracts held at July 31, 2015.

							Number of contracts			Premiums received
	Outstanding, beginning of period						770			$2,517,393
				Options written			5,505			15,657,996
				Option closed			(5,370	)		(15,948,154	)
				Options expired			(295	)		(302,403	)
	Outstanding, end of period						610			$1,924,832

	Name of issuer			Exercise price			Expiration date			Number of contracts			Premium			Value
	Calls
	S&P 500 Index			$2,300			Sep 2015			210			$29,812			($8,400	)
	S&P 500 Index			2,320			Oct 2015			5			221			(150	)
	S&P 500 Index			2,120			Oct 2015			395			1,894,799			(1,404,225	)
										610			$1,924,832			($1,412,775	)

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 July 31, 2015, 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, 2015.

Counterparty

USD notional amount

Payments made by fund

Payments received by fund

Termination date

Market value

Morgan Stanley Capital Services

$86,000,000

Fixed 1.4625%

3-Month LIBOR (a)

Aug 2016

($1,349,034

)

Counterparty

USD notional amount

Payments made by fund

Payments received by fund

Termination date

Market value

Morgan Stanley Capital Services

86,000,000

Fixed 0.8750%

3-Month LIBOR (a)

Jul 2017

(23,560

)

$172,000,000

($1,372,594

)

^(a) At 7-31-15, the 3-Month LIBOR rate was 0.30860%

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

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

	P13Q3	07/15
This report is for the information of the shareholders of John Hancock Tax-Advantaged Dividend Income Fund.		9/15