John Hancock Variable Insurance Trust · N-Q · For 9/30/06

Filed On 11/29/06 1:36pm ET   ·   SEC File 811-04146   ·   Accession Number 950135-6-7176

Quarterly Schedule of Portfolio Holdings of a Management Investment Company   ·   Form N-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: N-Q         John Hancock Trust                                 1,176±  4.66M 
 2: EX-99.CERT  Certifications                                         2     14K 

N-Q   ·   John Hancock Trust
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 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
 MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-04146                                   

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

 601 CONGRESS STREET, BOSTON, MA 02210
 (Address of principal executive offices) (Zip code)

GORDON M. SHONE, 601 CONGRESS STREET, BOSTON, MA 02210
 (Name and address of agent for service)

Registrant's telephone number, including area code: 617-663-3000                

Date of fiscal year end: December 31                                            

Date of reporting period: September 30, 2006                                    

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ITEM 1. SCHEDULE OF INVESTMENTS.                                                

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED)                       
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST                                                                 

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 99.39%                                                          

ADVERTISING - 0.21%                                                             
Monster Worldwide, Inc. *                                14,695   $      531,812
Omnicom Group, Inc.                                      19,666        1,840,738
The Interpublic Group of Companies,                                             
   Inc. * (a)                                            50,460          499,554
                                                                  --------------
                                                                       2,872,104
AEROSPACE - 2.03%                                                               
Boeing Company                                           90,994        7,174,877
General Dynamics Corp.                                   46,179        3,309,649
Goodrich Corp.                                           14,277          578,504
Lockheed Martin Corp.                                    40,757        3,507,547
Northrop Grumman Corp.                                   39,437        2,684,476
Raytheon Company                                         51,365        2,466,034
Rockwell Collins, Inc. (a)                               19,621        1,076,016
United Technologies Corp.                               115,780        7,334,663
                                                                  --------------
                                                                      28,131,766
AGRICULTURE - 0.42%                                                             
Archer-Daniels-Midland Company                           75,061        2,843,311
Monsanto Company                                         62,135        2,920,966
                                                                  --------------
                                                                       5,764,277
AIR TRAVEL - 0.11%                                                              
Southwest Airlines Company                               89,983        1,499,117

ALUMINUM - 0.20%                                                                
Alcoa, Inc.                                              99,234        2,782,521

AMUSEMENT & THEME PARKS - 0.53%                                                 
Walt Disney Company                                     239,262        7,395,588

APPAREL & TEXTILES - 0.41%                                                      
Cintas Corp.                                             15,633          638,295
Coach, Inc. *                                            41,881        1,440,706
Jones Apparel Group, Inc.                                12,915          418,963
Liz Claiborne, Inc.                                      11,810          466,619
NIKE, Inc., Class B                                      21,927        1,921,244
VF Corp.                                                 10,158          741,026
                                                                  --------------
                                                                       5,626,853
AUTO PARTS - 0.22%                                                              
AutoZone, Inc. *                                          6,038          623,726
Genuine Parts Company                                    19,610          845,779
Johnson Controls, Inc.                                   22,387        1,606,043
                                                                  --------------
                                                                       3,075,548
AUTO SERVICES - 0.03%                                                           
AutoNation, Inc. *                                       17,554          366,879

AUTOMOBILES - 0.40%                                                             
Ford Motor Company (a)                                  215,322        1,741,955
General Motors Corp. (a)                                 64,746        2,153,452
PACCAR, Inc. (a)                                         28,539        1,627,294
                                                                  --------------
                                                                       5,522,701
BANKING - 6.50%                                                                 
AmSouth Bancorp.                                         39,200        1,138,368
Bank of America Corp.                                   518,084       27,753,760
Bank of New York Company, Inc.                           87,357        3,080,208

500 INDEX TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

BANKING (CONTINUED)                                                             
BB&T Corp.                                               61,476   $    2,691,419
Comerica, Inc.                                           18,569        1,056,947
Commerce Bancorp, Inc. (a)                               21,349          783,722
Compass Bancshares, Inc.                                 14,812          843,988
Fifth Third Bancorp. (a)                                 63,863        2,431,903
First Horizon National Corp. (a)                         14,188          539,286
Huntington Bancshares, Inc.                              27,191          650,681
KeyCorp                                                  46,166        1,728,455
M&T Bank Corp. (a)                                        8,895        1,067,044
Marshall & Ilsley Corp.                                  29,110        1,402,520
National City Corp.                                      69,239        2,534,147
North Fork Bancorporation, Inc.                          53,325        1,527,228
Northern Trust Corp.                                     21,453        1,253,499
Regions Financial Corp.                                  52,045        1,914,736
Sovereign Bancorp, Inc.                                  41,052          883,028
SunTrust Banks, Inc.                                     41,760        3,227,213
US Bancorp                                              203,437        6,758,177
Wachovia Corp.                                          213,600       11,918,880
Wells Fargo Company                                     385,450       13,945,581
Zions Bancorp.                                           12,211          974,560
                                                                  --------------
                                                                      90,105,350
BIOTECHNOLOGY - 1.10%                                                           
Amgen, Inc. *                                           133,997        9,584,805
Applera Corp.                                            20,862          690,741
Biogen Idec, Inc. *                                      39,332        1,757,354
Genzyme Corp. *                                          29,920        2,018,702
MedImmune, Inc. * (a)                                    27,408          800,588
Millipore Corp. *                                         6,099          373,869
                                                                  --------------
                                                                      15,226,059
BROADCASTING - 0.75%                                                            
CBS Corp., Class B                                       89,361        2,517,299
Clear Channel Communications, Inc.                       56,812        1,639,026
News Corp.                                              267,484        5,256,061
Univision Communications, Inc., Class A *                28,721          986,279
                                                                  --------------
                                                                      10,398,665
BUILDING MATERIALS & CONSTRUCTION - 0.15%                                       
American Standard Companies, Inc.                        19,974          838,309
Masco Corp.                                              45,571        1,249,557
                                                                  --------------
                                                                       2,087,866
BUSINESS SERVICES - 1.38%                                                       
Affiliated Computer Services, Inc.,                                             
   Class A *                                             13,573          703,896
Automatic Data Processing, Inc.                          63,597        3,010,682
Computer Sciences Corp. * (a)                            19,657          965,552
Convergys Corp. *                                        15,894          328,211
Electronic Data Systems Corp.                            59,252        1,452,859
Equifax, Inc.                                            14,495          532,111
First Data Corp.                                         87,589        3,678,738
Fluor Corp.                                              10,026          770,899
H & R Block, Inc.                                        36,824          800,554
Moody's Corp.                                            27,106        1,772,190
NCR Corp. *                                              20,628          814,393

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

BUSINESS SERVICES (CONTINUED)                                                   
Paychex, Inc.                                            38,748   $    1,427,864
Pitney Bowes, Inc.                                       25,359        1,125,179
R.R. Donnelley & Sons Company                            24,760          816,090
Robert Half International, Inc.                          19,610          666,152
Unisys Corp. *                                           39,352          222,732
                                                                  --------------
                                                                      19,088,102
CABLE AND TELEVISION - 1.50%                                                    
Comcast Corp., Class A *                                239,565        8,827,970
E.W. Scripps Company, Class A (a)                         9,539          457,204
Time Warner, Inc.                                       465,551        8,486,995
Viacom, Inc. *                                           81,213        3,019,500
                                                                  --------------
                                                                      20,791,669
CELLULAR COMMUNICATIONS - 0.50%                                                 
Motorola, Inc.                                          280,459        7,011,475

CHEMICALS - 1.19%                                                               
Air Products & Chemicals, Inc.                           25,223        1,674,050
Ashland, Inc. (a)                                         7,244          462,022
Dow Chemical Company                                    109,817        4,280,667
E.I. Du Pont De Nemours & Company                       105,519        4,520,434
Eastman Chemical Company (a)                              9,417          508,706
Hercules, Inc. *                                         12,974          204,600
PPG Industries, Inc.                                     18,908        1,268,349
Praxair, Inc.                                            36,901        2,183,063
Rohm & Haas Company                                      16,433          778,103
Sigma-Aldrich Corp. (a)                                   7,598          574,941
                                                                  --------------
                                                                      16,454,935
COAL - 0.05%                                                                    
CONSOL Energy, Inc.                                      20,988          665,949

COLLEGES & UNIVERSITIES - 0.06%                                                 
Apollo Group, Inc., Class A *                            16,020          788,825

COMMERCIAL SERVICES - 0.12%                                                     
Western Union Company *                                  87,600        1,675,788

COMPUTERS & BUSINESS EQUIPMENT - 4.75%                                          
Apple Computer, Inc. *                                   97,359        7,499,564
Cisco Systems, Inc. *                                   698,805       16,072,515
Dell, Inc. *                                            260,035        5,939,199
EMC Corp. *                                             263,111        3,152,070
Hewlett-Packard Company                                 313,532       11,503,489
International Business Machines Corp.                   174,207       14,274,521
Lexmark International, Inc. *                            11,480          661,937
Network Appliance, Inc. *                                42,631        1,577,773
Parametric Technology Corp. *                            12,780          223,139
SanDisk Corp. *                                          22,431        1,200,956
Sun Microsystems, Inc. *                                401,710        1,996,499
Xerox Corp. *                                           111,978        1,742,378
                                                                  --------------
                                                                      65,844,040
CONSTRUCTION & MINING EQUIPMENT - 0.11%                                         
National Oilwell, Inc. *                                 20,076        1,175,450
Rowan Companies, Inc.                                    12,637          399,708
                                                                  --------------
                                                                       1,575,158

500 INDEX TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

CONSTRUCTION MATERIALS - 0.13%                                                  
Louisiana-Pacific Corp.                                  12,044   $      226,066
Sherwin-Williams Company                                 12,899          719,506
Vulcan Materials Company                                 11,046          864,350
                                                                  --------------
                                                                       1,809,922
CONTAINERS & GLASS - 0.13%                                                      
Ball Corp.                                               11,928          482,488
Bemis Company, Inc.                                      12,001          394,353
Pactiv Corp. *                                           15,795          448,894
Sealed Air Corp.                                          9,280          502,233
                                                                  --------------
                                                                       1,827,968
COSMETICS & TOILETRIES - 2.35%                                                  
Alberto-Culver Company, Class B                           8,933          451,921
Avon Products, Inc.                                      51,246        1,571,202
Colgate-Palmolive Company                                59,115        3,671,042
Estee Lauder Companies, Inc., Class A                    14,788          596,400
International Flavors & Fragrances, Inc. (a)              9,030          357,046
Kimberly-Clark Corp.                                     52,451        3,428,197
Procter & Gamble Company                                363,457       22,527,065
                                                                  --------------
                                                                      32,602,873
CRUDE PETROLEUM & NATURAL GAS - 1.39%                                           
Apache Corp.                                             37,689        2,381,945
Chesapeake Energy Corp. (a)                              43,314        1,255,240
Devon Energy Corp.                                       50,488        3,188,317
EOG Resources, Inc.                                      27,772        1,806,569
Marathon Oil Corp.                                       41,000        3,152,900
Occidental Petroleum Corp.                               98,621        4,744,656
Sunoco, Inc.                                             14,928          928,372
XTO Energy, Inc.                                         41,866        1,763,815
                                                                  --------------
                                                                      19,221,814
DOMESTIC OIL - 0.07%                                                            
Murphy Oil Corp.                                         21,388        1,016,999

DRUGS & HEALTH CARE - 0.56%                                                     
Wyeth                                                   154,039        7,831,343

ELECTRICAL EQUIPMENT - 0.47%                                                    
American Power Conversion Corp. (a)                      19,406          426,156
Cooper Industries, Ltd., Class A                         10,478          892,935
Emerson Electric Company                                 46,670        3,913,746
Molex, Inc.                                              16,189          630,885
Symbol Technologies, Inc.                                29,068          431,951
Tektronix, Inc.                                           9,583          277,236
                                                                  --------------
                                                                       6,572,909
ELECTRICAL UTILITIES - 2.41%                                                    
Allegheny Energy, Inc. *                                 18,841          756,843
Ameren Corp. (a)                                         23,566        1,244,049
American Electric Power Company, Inc.                    45,099        1,640,251
CenterPoint Energy, Inc. (a)                             35,688          511,052
CMS Energy Corp. *                                       25,365          366,271
Consolidated Edison, Inc. (a)                            28,213        1,303,441
Constellation Energy Group, Inc.                         20,566        1,217,507
Dominion Resources, Inc.                                 40,391        3,089,507

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

ELECTRICAL UTILITIES (CONTINUED)                                                
DTE Energy Company                                       20,349   $      844,687
Edison International                                     37,296        1,553,005
Entergy Corp.                                            23,851        1,865,864
Exelon Corp.                                             76,637        4,639,604
FirstEnergy Corp.                                        37,757        2,109,106
FPL Group, Inc. (a)                                      46,294        2,083,230
PG&E Corp. (a)                                           39,844        1,659,503
Pinnacle West Capital Corp.                              11,387          512,984
PPL Corp.                                                43,612        1,434,835
Public Service Enterprise Group, Inc.                    28,815        1,763,190
TECO Energy, Inc.                                        23,913          374,238
The AES Corp. *                                          75,715        1,543,829
The Southern Company (a)                                 84,971        2,928,101
                                                                  --------------
                                                                      33,441,097
ELECTRONICS - 0.37%                                                             
Agilent Technologies, Inc. *                             46,782        1,529,303
Harman International Industries, Inc.                     7,461          622,546
Jabil Circuit, Inc.                                      21,142          604,027
L-3 Communications Holdings, Inc.                        14,084        1,103,200
Sanmina-SCI Corp. *                                      60,994          228,117
Solectron Corp. * (a)                                   104,691          341,293
Thermo Electron Corp. *                                  18,040          709,513
                                                                  --------------
                                                                       5,137,999
ENERGY - 0.82%                                                                  
Duke Energy Corp.                                       143,434        4,331,707
Progress Energy, Inc. (a)                                29,001        1,316,065
Sempra Energy                                            29,902        1,502,576
TXU Corp.                                                52,814        3,301,931
Xcel Energy, Inc. (a)                                    46,472          959,647
                                                                  --------------
                                                                      11,411,926
FINANCIAL SERVICES - 8.98%                                                      
Ameriprise Financial, Inc.                               27,903        1,308,651
Bear Stearns Companies, Inc.                             13,780        1,930,578
Capital One Financial Corp.                              35,043        2,756,482
Charles Schwab Corp.                                    118,378        2,118,966
Chicago Merchantile Exchange Holdings, Inc.               4,072        1,947,434
CIT Group, Inc.                                          22,761        1,106,868
Citigroup, Inc.                                         565,940       28,110,240
Countrywide Financial Corp.                              70,059        2,454,867
E*TRADE Financial Corp. *                                48,901        1,169,712
Federal Home Loan Mortgage Corp.                         79,100        5,246,703
Federal National Mortgage Association                   110,797        6,194,660
Federated Investors, Inc., Class B                       10,370          350,610
Fiserv, Inc. *                                           19,945          939,210
Franklin Resources, Inc.                                 19,083        2,018,027
Goldman Sachs Group, Inc.                                49,417        8,359,874
Janus Capital Group, Inc.                                23,658          466,536
JPMorgan Chase & Company                                397,379       18,660,944
Legg Mason, Inc.                                         15,013        1,514,211
Lehman Brothers Holdings, Inc.                           61,496        4,542,095

500 INDEX TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

FINANCIAL SERVICES (CONTINUED)                                                  
Mellon Financial Corp.                                   47,098   $    1,841,532
Merrill Lynch & Company, Inc.                           101,476        7,937,453
Morgan Stanley                                          122,709        8,946,713
PNC Financial Services Group, Inc.                       33,707        2,441,735
SLM Corp.                                                46,938        2,439,837
State Street Corp. (c)                                   37,906        2,365,334
Synovus Financial Corp.                                  37,092        1,089,392
T. Rowe Price Group, Inc. (c)                            29,955        1,433,347
Washington Mutual, Inc.                                 110,292        4,794,393
                                                                  --------------
                                                                     124,486,404
FOOD & BEVERAGES - 3.10%                                                        
Campbell Soup Company (a)                                26,399          963,563
Coca-Cola Enterprises, Inc.                              31,549          657,166
ConAgra Foods, Inc.                                      58,476        1,431,492
Constellation Brands, Inc., Class A *                    24,140          694,749
Dean Foods Company *                                     15,279          642,024
General Mills, Inc.                                      40,387        2,285,904
H.J. Heinz Company                                       37,945        1,591,034
Hershey Company                                          20,104        1,074,559
Kellogg Company                                          28,609        1,416,718
McCormick & Company, Inc.                                15,092          573,194
Pepsi Bottling Group, Inc.                               15,550          552,025
PepsiCo, Inc.                                           188,727       12,316,324
Sara Lee Corp.                                           87,014        1,398,315
Starbucks Corp. *                                        86,548        2,946,959
Sysco Corp.                                              70,804        2,368,394
The Coca-Cola Company                                   233,284       10,423,129
Tyson Foods, Inc., Class A                               28,842          458,011
William Wrigley Jr. Company                              25,098        1,156,014
                                                                  --------------
                                                                      42,949,574
FOREST PRODUCTS - 0.12%                                                         
Weyerhaeuser Company                                     28,189        1,734,469

FURNITURE & FIXTURES - 0.04%                                                    
Leggett & Platt, Inc.                                    20,680          517,620

GAS & PIPELINE UTILITIES - 0.44%                                                
Dynegy, Inc., Class A *                                  43,297          239,865
El Paso Corp. (a)                                        79,666        1,086,644
KeySpan Corp.                                            20,035          824,240
Kinder Morgan, Inc.                                      12,264        1,285,880
Nicor, Inc. (a)                                           5,098          217,990
NiSource, Inc.                                           31,228          678,897
Peoples Energy Corp. (a)                                  4,404          179,023
Williams Companies, Inc.                                 68,202        1,627,982
                                                                  --------------
                                                                       6,140,521
HEALTHCARE PRODUCTS - 3.17%                                                     
Bausch & Lomb, Inc. (a)                                   6,155          308,550
Baxter International, Inc.                               74,680        3,394,953
Becton, Dickinson & Company                              28,010        1,979,467
Biomet, Inc.                                             28,026          902,157
Boston Scientific Corp. *                               134,842        1,994,313

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

HEALTHCARE PRODUCTS (CONTINUED)                                                 
C.R. Bard, Inc.                                          11,849   $      888,675
Fisher Scientific International, Inc. *                  14,242        1,114,294
Johnson & Johnson                                       334,831       21,743,925
Medtronic, Inc.                                         131,567        6,109,971
Patterson Companies, Inc. * (a)                          15,906          534,601
St. Jude Medical, Inc. *                                 40,368        1,424,587
Stryker Corp.                                            33,974        1,684,771
Zimmer Holdings, Inc. *                                  27,787        1,875,622
                                                                  --------------
                                                                      43,955,886
HEALTHCARE SERVICES - 2.25%                                                     
Cardinal Health, Inc.                                    46,420        3,051,651
Caremark Rx, Inc.                                        48,869        2,769,406
Coventry Health Care, Inc. *                             18,189          937,097
Express Scripts, Inc. *                                  15,768        1,190,326
HCA, Inc.                                                48,526        2,420,962
Humana, Inc. *                                           18,895        1,248,771
IMS Health, Inc.                                         23,066          614,478
Laboratory Corp. of America Holdings *                   14,332          939,749
McKesson Corp.                                           34,265        1,806,451
Medco Health Solutions, Inc. *                           33,647        2,022,521
Quest Diagnostics, Inc.                                  18,504        1,131,705
UnitedHealth Group, Inc.                                154,193        7,586,296
Wellpoint, Inc. *                                        70,949        5,466,620
                                                                  --------------
                                                                      31,186,033
HOLDINGS COMPANIES/CONGLOMERATES - 3.24%                                        
General Electric Company                              1,181,729       41,715,034
Loews Corp.                                              52,324        1,983,080
Textron, Inc.                                            14,453        1,264,637
                                                                  --------------
                                                                      44,962,751
HOMEBUILDERS - 0.24%                                                            
Centex Corp.                                             13,568          713,948
D.R. Horton, Inc.                                        31,183          746,833
KB Home (a)                                               8,990          393,762
Lennar Corp., Class A                                    15,844          716,941
Pulte Homes, Inc. (a)                                    24,231          772,000
                                                                  --------------
                                                                       3,343,484
HOTELS & RESTAURANTS - 0.98%                                                    
Darden Restaurants, Inc.                                 16,725          710,311
Hilton Hotels Corp.                                      44,162        1,229,912
Marriott International, Inc., Class A                    39,332        1,519,788
McDonald's Corp.                                        140,379        5,491,626
Starwood Hotels & Resorts Worldwide, Inc.                24,933        1,425,918
Wendy's International, Inc.                              13,470          902,490
Wyndham Worldwide Corp. *                                22,935          641,492
Yum! Brands, Inc.                                        30,990        1,613,030
                                                                  --------------
                                                                      13,534,567
HOUSEHOLD APPLIANCES - 0.10%                                                    
Black & Decker Corp.                                      8,476          672,571
Whirlpool Corp. (a)                                       8,954          753,121
                                                                  --------------
                                                                       1,425,692

500 INDEX TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

HOUSEHOLD PRODUCTS - 0.24%                                                      
Fortune Brands, Inc.                                     17,265   $    1,296,774
Newell Rubbermaid, Inc. (a)                              31,697          897,659
The Clorox Company                                       17,303        1,090,089
                                                                  --------------
                                                                       3,284,522
INDUSTRIAL MACHINERY - 0.98%                                                    
Caterpillar, Inc.                                        75,064        4,939,211
Cummins, Inc.                                             6,016          717,288
Deere & Company                                          26,465        2,220,678
Dover Corp.                                              23,298        1,105,257
Ingersoll-Rand Company, Class A                          36,830        1,398,803
ITT Corp.                                                21,140        1,083,848
Pall Corp.                                               14,290          440,275
Parker-Hannifin Corp.                                    13,761        1,069,643
W.W. Grainger, Inc.                                       8,619          577,645
                                                                  --------------
                                                                      13,552,648
INSURANCE - 4.98%                                                               
ACE, Ltd.                                                37,224        2,037,269
Aetna, Inc.                                              62,696        2,479,627
AFLAC, Inc.                                              56,811        2,599,671
Allstate Corp.                                           72,060        4,520,324
Ambac Financial Group, Inc.                              12,125        1,003,344
American International Group, Inc.                      297,484       19,711,290
Aon Corp.                                                35,998        1,219,252
Chubb Corp.                                              47,026        2,443,471
CIGNA Corp.                                              12,694        1,476,566
Cincinnati Financial Corp.                               19,829          952,982
Genworth Financial, Inc.                                 52,085        1,823,496
Hartford Financial Services Group, Inc.                  34,828        3,021,329
Lincoln National Corp.                                   32,868        2,040,445
Marsh & McLennan Companies, Inc.                         63,004        1,773,563
MBIA, Inc. (a)                                           15,426          947,773
MetLife, Inc.                                            86,929        4,927,136
MGIC Investment Corp.                                     9,668          579,790
Principal Financial Group, Inc. (a)                      30,826        1,673,235
Progressive Corp.                                        88,398        2,169,287
Prudential Financial, Inc.                               55,519        4,233,324
SAFECO Corp.                                             13,320          784,948
St. Paul Travelers Companies, Inc.                       79,092        3,708,624
TorchmarK Corp.                                          11,326          714,784
UnumProvident Corp. (a)                                  39,209          760,262
XL Capital, Ltd., Class A                                20,639        1,417,899
                                                                  --------------
                                                                      69,019,691
INTERNATIONAL OIL - 2.50%                                                       
Anadarko Petroleum Corp.                                 52,596        2,305,282
ChevronTexaco Corp.                                     251,607       16,319,230
ConocoPhillips                                          188,626       11,228,906
Hess Corp.                                               27,616        1,143,855
Nabors Industries, Ltd. *                                36,177        1,076,266
Noble Corp.                                              15,700        1,007,626
Weatherford International, Ltd. *                        39,608        1,652,446
                                                                  --------------
                                                                      34,733,611

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

INTERNET RETAIL - 0.36%                                                         
Amazon.com, Inc. * (a)                                   35,968   $    1,155,292
eBay, Inc. *                                            134,478        3,813,796
                                                                  --------------
                                                                       4,969,088
INTERNET SERVICE PROVIDER - 0.97%                                               
Google, Inc., Class A *                                  24,388        9,801,537
Yahoo!, Inc. *                                          142,295        3,597,218
                                                                  --------------
                                                                      13,398,755
INTERNET SOFTWARE - 0.29%                                                       
Juniper Networks, Inc. *                                 64,762        1,119,087
Symantec Corp. *                                        113,234        2,409,620
VeriSign, Inc. *                                         28,061          566,832
                                                                  --------------
                                                                       4,095,539
LEISURE TIME - 0.56%                                                            
Brunswick Corp.                                          10,615          331,082
Carnival Corp.                                           50,938        2,395,614
Electronic Arts, Inc. *                                  35,104        1,954,591
Harrah's Entertainment, Inc.                             21,271        1,413,033
International Game Technology, Inc.                      38,853        1,612,399
                                                                  --------------
                                                                       7,706,719
LIFE SCIENCES - 0.06%                                                           
PerkinElmer, Inc.                                        14,377          272,157
Waters Corp. *                                           11,727          530,998
                                                                  --------------
                                                                         803,155
LIQUOR - 0.38%                                                                  
Anheuser-Busch Companies, Inc.                           87,996        4,180,690
Brown Forman Corp., Class B                               8,989          689,007
Molson Coors Brewing Company, Class B                     5,226          360,071
                                                                  --------------
                                                                       5,229,768
MANUFACTURING - 1.85%                                                           
3M Company                                               86,224        6,416,790
Danaher Corp.                                            27,086        1,859,996
Eaton Corp.                                              17,171        1,182,223
Harley-Davidson, Inc. (a)                                30,017        1,883,567
Honeywell International, Inc.                            93,745        3,834,170
Illinois Tool Works, Inc.                                48,105        2,159,914
Rockwell Automation, Inc.                                20,140        1,170,134
Snap-on, Inc. (a)                                         6,645          296,035
Stanley Works                                             9,263          461,761
Tyco International, Ltd.                                230,627        6,455,250
                                                                  --------------
                                                                      25,719,840
MEDICAL-HOSPITALS - 0.10%                                                       
Health Management Associates, Inc., Class A              27,505          574,855
Manor Care, Inc. (a)                                      8,432          440,825
Tenet Healthcare Corp. * (a)                             53,952          439,169
                                                                  --------------
                                                                       1,454,849
METAL & METAL PRODUCTS - 0.14%                                                  
Phelps Dodge Corp.                                       23,350        1,977,745

500 INDEX TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

MINING - 0.24%                                                                  
Freeport-McMoran Copper & Gold, Inc.,                                           
   Class B (a)                                           22,489   $    1,197,764
Newmont Mining Corp.                                     51,475        2,200,556
                                                                  --------------
                                                                       3,398,320
NEWSPAPERS - 0.04%                                                              
Dow Jones & Company, Inc. (a)                             7,439          249,504
The New York Times Company, Class A (a)                  16,540          380,089
                                                                  --------------
                                                                         629,593
OFFICE FURNISHINGS & SUPPLIES - 0.16%                                           
Avery Dennison Corp.                                     10,806          650,197
Office Depot, Inc. *                                     32,427        1,287,352
OfficeMax, Inc.                                           8,493          346,005
                                                                  --------------
                                                                       2,283,554
PAPER - 0.26%                                                                   
International Paper Company                              52,040        1,802,145
MeadWestvaco Corp.                                       20,739          549,791
Plum Creek Timber Company, Inc.                          20,515          698,331
Temple-Inland, Inc.                                      12,449          499,205
                                                                  --------------
                                                                       3,549,472
PETROLEUM SERVICES - 4.92%                                                      
Baker Hughes, Inc.                                       37,656        2,568,139
BJ Services Company                                      34,244        1,031,772
Exxon Mobil Corp.                                       680,528       45,663,429
Halliburton Company                                     118,037        3,358,153
Schlumberger, Ltd.                                      135,538        8,407,422
Smith International, Inc.                                22,950          890,460
Transocean, Inc. *                                       36,067        2,641,186
Valero Energy Corp.                                      70,155        3,610,878
                                                                  --------------
                                                                      68,171,439
PHARMACEUTICALS - 5.00%                                                         
Abbott Laboratories                                     174,890        8,492,658
Allergan, Inc.                                           17,262        1,943,874
AmerisourceBergen Corp.                                  23,073        1,042,900
Barr Pharmaceuticals, Inc. *                             12,168          632,006
Bristol-Myers Squibb Company                            225,113        5,609,816
Eli Lilly & Company                                     112,577        6,416,889
Forest Laboratories, Inc. *                              36,398        1,842,103
Gilead Sciences, Inc. *                                  52,295        3,592,666
Hospira, Inc. *                                          17,972          687,788
King Pharmaceuticals, Inc. *                             27,828          473,911
Merck & Company, Inc.                                   249,104       10,437,458
Mylan Laboratories, Inc.                                 24,132          485,777
Pfizer, Inc.                                            834,663       23,671,043
Schering-Plough Corp.                                   169,569        3,745,779
Watson Pharmaceuticals, Inc. *                           11,701          306,215
                                                                  --------------
                                                                      69,380,883
PHOTOGRAPHY - 0.05%                                                             
Eastman Kodak Company (a)                                32,882          736,557

PUBLISHING - 0.35%                                                              
Gannett Company, Inc.                                    27,058        1,537,706

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

PUBLISHING (CONTINUED)                                                          
McGraw-Hill Companies, Inc.                              40,282   $    2,337,564
Meredith Corp.                                            4,457          219,864
Tribune Company (a)                                      21,823          714,049
                                                                  --------------
                                                                       4,809,183
RAILROADS & EQUIPMENT - 0.69%                                                   
Burlington Northern Santa Fe Corp.                       41,434        3,042,913
CSX Corp.                                                50,772        1,666,845
Norfolk Southern Corp.                                   47,371        2,086,692
Union Pacific Corp.                                      30,833        2,713,304
                                                                  --------------
                                                                       9,509,754
REAL ESTATE - 1.07%                                                             
Apartment Investment & Management                                               
   Company, Class A, REIT                                11,146          606,454
Archstone-Smith Trust, REIT                              24,525        1,335,141
Boston Properties, Inc., REIT                            13,084        1,352,101
Equity Office Properties Trust, REIT                     40,079        1,593,541
Equity Residential, REIT                                 33,306        1,684,617
Kimco Realty Corp., REIT (a)                             24,792        1,062,833
ProLogis, REIT                                           28,058        1,600,990
Public Storage, Inc., REIT                               13,881        1,193,627
Realogy Corp., REIT *                                    28,669          650,213
Simon Property Group, Inc., REIT                         25,318        2,294,317
Vornado Realty Trust, REIT                               13,952        1,520,768
                                                                  --------------
                                                                      14,894,602
RETAIL GROCERY - 0.37%                                                          
Safeway, Inc.                                            50,894        1,544,633
SUPERVALU, Inc.                                          24,226          718,301
The Kroger Company                                       82,707        1,913,840
Whole Foods Market, Inc.                                 16,161          960,448
                                                                  --------------
                                                                       5,137,222
RETAIL TRADE - 4.70%                                                            
Bed Bath & Beyond, Inc. *                                32,307        1,236,066
Best Buy Company, Inc.                                   46,541        2,492,736
Big Lots, Inc. * (a)                                     12,462          246,872
Circuit City Stores, Inc.                                16,140          405,275
Costco Wholesale Corp.                                   53,569        2,661,308
CVS Corp.                                                94,029        3,020,212
Dillard's, Inc., Class A (a)                              6,921          226,524
Dollar General Corp.                                     35,710          486,727
Family Dollar Stores, Inc.                               17,358          507,548
Federated Department Stores, Inc.                        62,220        2,688,526
Gap, Inc.                                                61,646        1,168,192
Home Depot, Inc.                                        236,274        8,569,658
J.C. Penney Company, Inc.                                25,665        1,755,229
Kohl's Corp. *                                           37,478        2,433,072
Limited Brands, Inc.                                     38,882        1,029,984
Lowe's Companies, Inc.                                  174,904        4,907,806
Nordstrom, Inc.                                          26,144        1,105,891
RadioShack Corp. (a)                                     15,535          299,826
Sears Holdings Corp. *                                    9,522        1,505,333
Staples, Inc.                                            83,163        2,023,356

500 INDEX TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

RETAIL TRADE (CONTINUED)                                                        
Target Corp.                                             98,296   $    5,430,854
The TJX Companies, Inc.                                  51,455        1,442,284
Tiffany & Company                                        15,814          525,025
Walgreen Company                                        115,388        5,122,073
Wal-Mart Stores, Inc.                                   281,569       13,886,983
                                                                  --------------
                                                                      65,177,360
SANITARY SERVICES - 0.25%                                                       
Allied Waste Industries, Inc. *                          29,034          327,213
Ecolab, Inc.                                             20,451          875,712
Waste Management, Inc.                                   61,871        2,269,428
                                                                  --------------
                                                                       3,472,353
SEMICONDUCTORS - 2.76%                                                          
Advanced Micro Devices, Inc. *                           55,620        1,382,157
Altera Corp. *                                           41,129          755,951
Analog Devices, Inc.                                     40,391        1,187,092
Applied Materials, Inc. (a)                             175,590        3,113,211
Broadcom Corp., Class A *                                53,682        1,628,712
Freescale Semiconductor, Inc., Class B *                 46,438        1,765,108
Intel Corp.                                             660,271       13,581,775
KLA-Tencor Corp.                                         22,790        1,013,471
Linear Technology Corp.                                  34,484        1,073,142
LSI Logic Corp. * (a)                                    45,741          375,991
Maxim Integrated Products, Inc.                          36,710        1,030,450
Micron Technology, Inc. *                                83,551        1,453,787
National Semiconductor Corp.                             34,075          801,785
Novellus Systems, Inc. *                                 14,108          390,227
NVIDIA Corp. *                                           40,353        1,194,045
PMC-Sierra, Inc. * (a)                                   23,924          142,109
QLogic Corp. *                                           18,240          344,736
Teradyne, Inc. *                                         22,552          296,784
Texas Instruments, Inc.                                 175,437        5,833,280
Xilinx, Inc.                                             38,906          853,987
                                                                  --------------
                                                                      38,217,800
SOFTWARE - 3.10%                                                                
Adobe Systems, Inc. *                                    66,299        2,482,897
Autodesk, Inc. *                                         26,523          922,470
BMC Software, Inc. *                                     23,463          638,663
CA, Inc.                                                 50,687        1,200,775
Citrix Systems, Inc. *                                   21,041          761,895
Compuware Corp. *                                        42,643          332,189
Intuit, Inc. *                                           39,114        1,255,168
Microsoft Corp.                                         988,712       27,021,499
Novell, Inc. *                                           38,807          237,499
Oracle Corp. *                                          461,722        8,190,948
                                                                  --------------
                                                                      43,044,003
STEEL - 0.24%                                                                   
Allegheny Technologies, Inc. (a)                         11,515          716,118
Nucor Corp.                                              35,294        1,746,700
United States Steel Corp.                                14,089          812,653
                                                                  --------------
                                                                       3,275,471

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

TELECOMMUNICATIONS EQUIPMENT &                                                  
SERVICES - 1.18%                                                                
ADC Telecommunications, Inc. * (a)                       13,420   $      201,300
Avaya, Inc. *                                            52,310          598,426
Ciena Corp. *                                             9,666          263,395
Citizens Communications Company                          36,726          515,633
Comverse Technology, Inc. *                              23,124          495,779
Corning, Inc. *                                         178,550        4,358,406
Embarq Corp.                                             17,070          825,676
JDS Uniphase Corp. * (a)                                192,869          422,383
Lucent Technologies, Inc. *                             513,063        1,200,567
QUALCOMM, Inc.                                          189,095        6,873,603
Tellabs, Inc. *                                          51,249          561,689
                                                                  --------------
                                                                      16,316,857
TELEPHONE - 3.38%                                                               
ALLTEL Corp.                                             44,431        2,465,921
AT&T, Inc.                                              444,626       14,477,023
BellSouth Corp.                                         207,856        8,885,844
CenturyTel, Inc.                                         13,326          528,642
Qwest Communications International,                                             
   Inc. * (a)                                           183,199        1,597,495
Sprint Nextel Corp.                                     341,975        5,864,871
Verizon Communications, Inc.                            331,821       12,320,514
Windstream Corp. *                                       54,271          715,834
                                                                  --------------
                                                                      46,856,144
TIRES & RUBBER - 0.02%                                                          
Goodyear Tire & Rubber Company * (a)                     20,297          294,306

TOBACCO - 1.48%                                                                 
Altria Group, Inc.                                      239,641       18,344,519
Reynolds American, Inc. (a)                              19,622        1,215,975
UST, Inc. (a)                                            18,410        1,009,420
                                                                  --------------
                                                                      20,569,914
TOYS, AMUSEMENTS & SPORTING GOODS - 0.09%                                       
Hasbro, Inc.                                             18,726          426,016
Mattel, Inc.                                             43,271          852,439
                                                                  --------------
                                                                       1,278,455
TRAVEL SERVICES - 0.59%                                                         
American Express Company                                139,067        7,798,877
Sabre Holdings Corp.                                     15,087          352,885
                                                                  --------------
                                                                       8,151,762
TRUCKING & FREIGHT - 0.96%                                                      
Fedex Corp.                                              35,075        3,811,951
Navistar International Corp. *                            7,062          182,341
Ryder Systems, Inc.                                       7,095          366,670
United Parcel Service, Inc., Class B                    123,746        8,902,287
                                                                  --------------
                                                                      13,263,249
                                                                  --------------
TOTAL COMMON STOCKS (Cost $ 1,199,636,973)                        $1,378,227,269
                                                                  --------------
SHORT TERM INVESTMENTS - 4.02%                                                  
Federal National Mortgage Association                                           
   5.13% due 10/02/2006                          $    7,000,000   $    6,999,002

500 INDEX TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                               SHARES OR                    
                                           PRINCIPAL AMOUNT       VALUE     
                                           ----------------  -------------- 
                                                                            
SHORT TERM INVESTMENTS (CONTINUED)                                          
Rabobank USA Finance Corp.                                                  
   5.36% due 10/02/2006                      $    1,210,000  $    1,209,820 
State Street Navigator Securities Lending                                   
   Prime Portfolio (c)                           45,528,481      45,528,481 
U.S. Treasury Bills                                                         
   4.965% due 11/02/2006                          2,000,000       1,991,173 
                                                             -------------- 
TOTAL SHORT TERM INVESTMENTS                                                
(Cost $55,728,477)                                           $   55,728,476 
                                                             -------------- 
TOTAL INVESTMENTS (500 INDEX TRUST)                                         
   (COST $1,255,365,450) - 103.41%                           $1,433,955,745 

LIABILITIES IN EXCESS OF OTHER ASSETS -                                     
   (3.41)%                                                      (47,283,341)
                                                             -------------- 
TOTAL NET ASSETS - 100.00%                                   $1,386,672,404 
                                                             ============== 

500 INDEX TRUST B                                                               

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 99.13%                                                          

ADVERTISING - 0.21%                                                             
Monster Worldwide, Inc. *                                11,601   $      419,840
Omnicom Group, Inc.                                      15,526        1,453,234
The Interpublic Group of Companies,                                             
   Inc. * (a)                                            39,836          394,376
                                                                  --------------
                                                                       2,267,450
AEROSPACE - 2.02%                                                               
Boeing Company                                           71,837        5,664,347
General Dynamics Corp.                                   36,456        2,612,802
Goodrich Corp.                                           11,271          456,701
Lockheed Martin Corp.                                    32,176        2,769,067
Northrop Grumman Corp.                                   31,134        2,119,291
Raytheon Company                                         40,551        1,946,853
Rockwell Collins, Inc. (a)                               15,490          849,472
United Technologies Corp.                                91,404        5,790,443
                                                                  --------------
                                                                      22,208,976
AGRICULTURE - 0.41%                                                             
Archer-Daniels-Midland Company                           59,258        2,244,693
Monsanto Company                                         49,053        2,305,982
                                                                  --------------
                                                                       4,550,675
AIR TRAVEL - 0.11%                                                              
Southwest Airlines Company                               71,038        1,183,493

ALUMINUM - 0.20%                                                                
Alcoa, Inc.                                              78,341        2,196,682

AMUSEMENT & THEME PARKS - 0.53%                                                 
Walt Disney Company                                     188,888        5,838,528

APPAREL & TEXTILES - 0.41%                                                      
Cintas Corp.                                             12,341          503,883
Coach, Inc. *                                            33,063        1,137,367
Jones Apparel Group, Inc.                                10,196          330,759
Liz Claiborne, Inc.                                       9,324          368,391
NIKE, Inc., Class B                                      17,310        1,516,708

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST B (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

APPAREL & TEXTILES (CONTINUED)                                                  
VF Corp.                                                  8,019   $      584,986
                                                                  --------------
                                                                       4,442,094
AUTO PARTS - 0.22%                                                              
AutoZone, Inc. *                                          4,767          492,431
Genuine Parts Company                                    15,481          667,696
Johnson Controls, Inc.                                   17,673        1,267,861
                                                                  --------------
                                                                       2,427,988
AUTO SERVICES - 0.03%                                                           
AutoNation, Inc. *                                       13,859          289,653

AUTOMOBILES - 0.40%                                                             
Ford Motor Company (a)                                  169,988        1,375,203
General Motors Corp. (a)                                 51,114        1,700,052
PACCAR, Inc.                                             22,531        1,284,689
                                                                  --------------
                                                                       4,359,944
BANKING - 6.48%                                                                 
AmSouth Bancorp.                                         30,947          898,701
Bank of America Corp.                                   409,007       21,910,505
Bank of New York Company, Inc.                           68,965        2,431,706
BB&T Corp.                                               48,533        2,124,775
Comerica, Inc.                                           14,659          834,390
Commerce Bancorp, Inc. (a)                               16,854          618,710
Compass Bancshares, Inc.                                 11,693          666,267
Fifth Third Bancorp. (a)                                 50,417        1,919,879
First Horizon National Corp. (a)                         11,201          425,750
Huntington Bancshares, Inc.                              21,466          513,681
KeyCorp                                                  36,446        1,364,538
M&T Bank Corp.                                            7,022          842,359
Marshall & Ilsley Corp.                                  22,981        1,107,225
National City Corp.                                      54,662        2,000,629
North Fork Bancorporation, Inc.                          42,098        1,205,687
Northern Trust Corp.                                     16,936          989,571
Regions Financial Corp.                                  41,087        1,511,591
Sovereign Bancorp, Inc.                                  32,409          697,120
SunTrust Banks, Inc.                                     32,968        2,547,767
US Bancorp                                              160,606        5,335,331
Wachovia Corp.                                          168,620        9,408,996
Wells Fargo Company (c)                                 304,298       11,009,502
Zions Bancorp.                                            9,640          769,368
                                                                  --------------
                                                                      71,134,048
BIOTECHNOLOGY - 1.10%                                                           
Amgen, Inc. *                                           105,785        7,566,801
Applera Corp.                                            16,470          545,322
Biogen Idec, Inc. *                                      31,051        1,387,359
Genzyme Corp. *                                          23,621        1,593,709
MedImmune, Inc. * (a)                                    21,638          632,046
Millipore Corp. *                                         4,815          295,159
                                                                  --------------
                                                                      12,020,396
BROADCASTING - 0.75%                                                            
CBS Corp., Class B                                       70,547        1,987,309
Clear Channel Communications, Inc.                       44,851        1,293,952

500 INDEX TRUST B (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

BROADCASTING (CONTINUED)                                                        
News Corp.                                              211,168   $    4,149,451
Univision Communications, Inc., Class A *                22,674          778,625
                                                                  --------------
                                                                       8,209,337
BUILDING MATERIALS & CONSTRUCTION - 0.15%                                       
American Standard Companies, Inc.                        15,769          661,825
Masco Corp.                                              35,977          986,489
                                                                  --------------
                                                                       1,648,314
BUSINESS SERVICES - 1.37%                                                       
Affiliated Computer Services, Inc.,                                             
   Class A *                                             10,715          555,680
Automatic Data Processing, Inc.                          50,207        2,376,799
Computer Sciences Corp. *                                15,519          762,293
Convergys Corp. *                                        12,547          259,096
Electronic Data Systems Corp.                            46,777        1,146,972
Equifax, Inc.                                            11,444          420,109
First Data Corp.                                         69,148        2,904,216
Fluor Corp.                                               7,915          608,584
H & R Block, Inc.                                        29,071          632,004
Moody's Corp.                                            21,399        1,399,067
NCR Corp. *                                              16,285          642,932
Paychex, Inc.                                            30,590        1,127,242
Pitney Bowes, Inc.                                       20,020          888,287
R.R. Donnelley & Sons Company                            19,547          644,269
Robert Half International, Inc.                          15,482          525,924
Unisys Corp. *                                           31,067          175,839
                                                                  --------------
                                                                      15,069,313
CABLE AND TELEVISION - 1.50%                                                    
Comcast Corp., Class A * (a)                            189,128        6,969,367
E.W. Scripps Company, Class A (a)                         7,531          360,961
Time Warner, Inc.                                       367,534        6,700,145
Viacom, Inc. *                                           64,115        2,383,795
                                                                  --------------
                                                                      16,414,268
CELLULAR COMMUNICATIONS - 0.50%                                                 
Motorola, Inc.                                          221,412        5,535,300

CHEMICALS - 1.18%                                                               
Air Products & Chemicals, Inc.                           19,912        1,321,559
Ashland, Inc. (a)                                         5,719          364,758
Dow Chemical Company                                     86,696        3,379,410
E.I. Du Pont De Nemours & Company                        83,303        3,568,700
Eastman Chemical Company                                  7,434          401,585
Hercules, Inc. *                                         10,242          161,516
PPG Industries, Inc.                                     14,927        1,001,303
Praxair, Inc.                                            29,132        1,723,449
Rohm & Haas Company                                      12,973          614,272
Sigma-Aldrich Corp.                                       5,998          453,869
                                                                  --------------
                                                                      12,990,421
COAL - 0.05%                                                                    
CONSOL Energy, Inc.                                      16,570          525,766

COLLEGES & UNIVERSITIES - 0.06%                                                 
Apollo Group, Inc., Class A *                            12,647          622,738

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST B (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

COMMERCIAL SERVICES - 0.12%                                                     
Western Union Company *                                  69,150   $    1,322,840

COMPUTERS & BUSINESS EQUIPMENT - 4.74%                                          
Apple Computer, Inc. *                                   76,861        5,920,603
Cisco Systems, Inc. *                                   551,680       12,688,640
Dell, Inc. *                                            205,288        4,688,778
EMC Corp. *                                             207,716        2,488,438
Hewlett-Packard Company                                 247,522        9,081,582
International Business Machines Corp.                   137,530       11,269,208
Lexmark International, Inc. *                             9,063          522,573
Network Appliance, Inc. *                                33,655        1,245,571
Parametric Technology Corp. *                            10,090          176,171
SanDisk Corp. *                                          17,709          948,140
Sun Microsystems, Inc. *                                317,135        1,576,161
Xerox Corp. *                                            88,402        1,375,535
                                                                  --------------
                                                                      51,981,400
CONSTRUCTION & MINING EQUIPMENT - 0.11%                                         
National Oilwell, Inc. *                                 15,849          927,959
Rowan Companies, Inc.                                     9,977          315,572
                                                                  --------------
                                                                       1,243,531
CONSTRUCTION MATERIALS - 0.13%                                                  
Louisiana-Pacific Corp.                                   9,508          178,465
Sherwin-Williams Company                                 10,184          568,064
Vulcan Materials Company                                  8,720          682,340
                                                                  --------------
                                                                       1,428,869
CONTAINERS & GLASS - 0.13%                                                      
Ball Corp.                                                9,417          380,918
Bemis Company, Inc.                                       9,474          311,316
Pactiv Corp. *                                           12,469          354,369
Sealed Air Corp.                                          7,327          396,537
                                                                  --------------
                                                                       1,443,140
COSMETICS & TOILETRIES - 2.35%                                                  
Alberto-Culver Company, Class B                           7,053          356,811
Avon Products, Inc.                                      40,457        1,240,411
Colgate-Palmolive Company                                46,669        2,898,145
Estee Lauder Companies, Inc., Class A                    11,675          470,853
International Flavors & Fragrances, Inc.                  7,129          281,881
Kimberly-Clark Corp.                                     41,408        2,706,427
Procter & Gamble Company                                286,935       17,784,231
                                                                  --------------
                                                                      25,738,759
CRUDE PETROLEUM & NATURAL GAS - 1.38%                                           
Apache Corp.                                             29,754        1,880,453
Chesapeake Energy Corp. (a)                              34,195          990,971
Devon Energy Corp.                                       39,858        2,517,033
EOG Resources, Inc.                                      21,925        1,426,221
Marathon Oil Corp.                                       32,368        2,489,099
Occidental Petroleum Corp.                               77,858        3,745,748
Sunoco, Inc.                                             11,785          732,909
XTO Energy, Inc.                                         33,051        1,392,439
                                                                  --------------
                                                                      15,174,873

500 INDEX TRUST B (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

DOMESTIC OIL - 0.07%                                                            
Murphy Oil Corp. (a)                                     16,885   $      802,882

DRUGS & HEALTH CARE - 0.56%                                                     
Wyeth                                                   121,608        6,182,551

ELECTRICAL EQUIPMENT - 0.47%                                                    
American Power Conversion Corp.                          15,320          336,427
Cooper Industries, Ltd., Class A                          8,272          704,940
Emerson Electric Company                                 36,844        3,089,738
Molex, Inc.                                              12,780          498,037
Symbol Technologies, Inc.                                22,948          341,007
Tektronix, Inc.                                           7,566          218,884
                                                                  --------------
                                                                       5,189,033
ELECTRICAL UTILITIES - 2.41%                                                    
Allegheny Energy, Inc. *                                 14,874          597,488
Ameren Corp.                                             18,604          982,105
American Electric Power Company, Inc.                    35,604        1,294,917
CenterPoint Energy, Inc. (a)                             28,175          403,466
CMS Energy Corp. * (a)                                   20,025          289,161
Consolidated Edison, Inc. (a)                            22,273        1,029,013
Constellation Energy Group, Inc.                         16,236          961,171
Dominion Resources, Inc.                                 31,887        2,439,037
DTE Energy Company                                       16,064          666,817
Edison International                                     29,444        1,226,048
Entergy Corp.                                            18,829        1,472,993
Exelon Corp.                                             60,502        3,662,791
FirstEnergy Corp.                                        29,808        1,665,075
FPL Group, Inc.                                          36,548        1,644,660
PG&E Corp.                                               31,455        1,310,101
Pinnacle West Capital Corp.                               8,990          404,999
PPL Corp.                                                34,430        1,132,747
Public Service Enterprise Group, Inc.                    22,748        1,391,950
TECO Energy, Inc.                                        18,878          295,441
The AES Corp. *                                          59,774        1,218,792
The Southern Company                                     67,081        2,311,611
                                                                  --------------
                                                                      26,400,383
ELECTRONICS - 0.37%                                                             
Agilent Technologies, Inc. *                             36,933        1,207,340
Harman International Industries, Inc.                     5,890          491,462
Jabil Circuit, Inc.                                      16,691          476,862
L-3 Communications Holdings, Inc.                        11,118          870,873
Sanmina-SCI Corp. *                                      48,152          180,088
Solectron Corp. *                                        82,650          269,439
Thermo Electron Corp. *                                  14,242          560,138
                                                                  --------------
                                                                       4,056,202
ENERGY - 0.82%                                                                  
Duke Energy Corp.                                       113,236        3,419,727
Progress Energy, Inc. (a)                                22,895        1,038,975
Sempra Energy                                            23,606        1,186,202
TXU Corp.                                                41,695        2,606,771
Xcel Energy, Inc. (a)                                    36,688          757,607
                                                                  --------------
                                                                       9,009,282

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST B (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

FINANCIAL SERVICES - 8.95%                                                      
Ameriprise Financial, Inc. (a)                           22,029   $    1,033,160
Bear Stearns Companies, Inc.                             10,879        1,524,148
Capital One Financial Corp.                              27,665        2,176,129
Charles Schwab Corp.                                     93,455        1,672,845
Chicago Merchantile Exchange Holdings, Inc.               3,215        1,537,574
CIT Group, Inc.                                          17,969          873,833
Citigroup, Inc.                                         446,788       22,191,960
Countrywide Financial Corp.                              55,309        1,938,027
E*TRADE Financial Corp. *                                38,606          923,456
Federal Home Loan Mortgage Corp.                         62,446        4,142,043
Federal National Mortgage Association                    87,470        4,890,448
Federated Investors, Inc., Class B                        8,187          276,803
Fiserv, Inc. *                                           15,745          741,432
Franklin Resources, Inc.                                 15,065        1,593,124
Goldman Sachs Group, Inc.                                39,013        6,599,829
Janus Capital Group, Inc.                                18,677          368,310
JPMorgan Chase & Company                                313,716       14,732,103
Legg Mason, Inc.                                         11,852        1,195,393
Lehman Brothers Holdings, Inc.                           48,548        3,585,755
Mellon Financial Corp.                                   37,182        1,453,816
Merrill Lynch & Company, Inc.                            80,111        6,266,282
Morgan Stanley                                           96,874        7,063,083
PNC Financial Services Group, Inc.                       26,610        1,927,628
SLM Corp.                                                37,055        1,926,119
State Street Corp. (c)                                   29,926        1,867,382
Synovus Financial Corp.                                  29,283          860,042
T. Rowe Price Group, Inc.                                23,648        1,131,557
Washington Mutual, Inc.                                  87,071        3,784,976
                                                                  --------------
                                                                      98,277,257
FOOD & BEVERAGES - 3.09%                                                        
Campbell Soup Company (a)                                20,841          760,696
Coca-Cola Enterprises, Inc.                              24,907          518,813
ConAgra Foods, Inc.                                      46,165        1,130,119
Constellation Brands, Inc., Class A *                    19,058          548,489
Dean Foods Company *                                     12,063          506,887
General Mills, Inc.                                      31,884        1,804,634
H.J. Heinz Company                                       29,956        1,256,055
Hershey Company                                          15,872          848,358
Kellogg Company                                          22,586        1,118,459
McCormick & Company, Inc.                                11,915          452,532
Pepsi Bottling Group, Inc.                               12,276          435,798
PepsiCo, Inc.                                           148,993        9,723,283
Sara Lee Corp.                                           68,694        1,103,913
Starbucks Corp. *                                        68,326        2,326,500
Sysco Corp.                                              55,897        1,869,755
The Coca-Cola Company                                   184,169        8,228,671
Tyson Foods, Inc., Class A                               22,770          361,588
William Wrigley Jr. Company                              19,814          912,633
                                                                  --------------
                                                                      33,907,183
FOREST PRODUCTS - 0.13%                                                         
Weyerhaeuser Company                                     22,254        1,369,289

500 INDEX TRUST B (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

FURNITURE & FIXTURES - 0.04%                                                    
Leggett & Platt, Inc.                                    16,326   $      408,640

GAS & PIPELINE UTILITIES - 0.44%                                                
Dynegy, Inc., Class A *                                  34,181          189,363
El Paso Corp. (a)                                        62,893          857,861
KeySpan Corp.                                            15,817          650,711
Kinder Morgan, Inc.                                       9,682        1,015,158
Nicor, Inc. (a)                                           4,025          172,109
NiSource, Inc.                                           24,653          535,956
Peoples Energy Corp. (a)                                  3,477          141,340
Williams Companies, Inc.                                 53,843        1,285,232
                                                                  --------------
                                                                       4,847,730
HEALTHCARE PRODUCTS - 3.16%                                                     
Bausch & Lomb, Inc. (a)                                   4,859          243,582
Baxter International, Inc.                               58,957        2,680,185
Becton, Dickinson & Company                              22,113        1,562,726
Biomet, Inc.                                             22,126          712,236
Boston Scientific Corp. *                               106,452        1,574,425
C.R. Bard, Inc.                                           9,355          701,625
Fisher Scientific International, Inc. *                  11,244          879,731
Johnson & Johnson                                       264,337       17,166,045
Medtronic, Inc.                                         103,867        4,823,583
Patterson Companies, Inc. * (a)                          12,557          422,041
St. Jude Medical, Inc. *                                 31,869        1,124,657
Stryker Corp.                                            26,821        1,330,053
Zimmer Holdings, Inc. *                                  21,937        1,480,747
                                                                  --------------
                                                                      34,701,636
HEALTHCARE SERVICES - 2.24%                                                     
Cardinal Health, Inc.                                    36,647        2,409,174
Caremark Rx, Inc.                                        38,580        2,186,329
Coventry Health Care, Inc. *                             14,360          739,827
Express Scripts, Inc. *                                  12,448          939,699
HCA, Inc.                                                38,310        1,911,286
Humana, Inc. *                                           14,917          985,864
IMS Health, Inc.                                         18,210          485,114
Laboratory Corp. of America Holdings *                   11,314          741,859
McKesson Corp.                                           27,051        1,426,129
Medco Health Solutions, Inc. *                           26,563        1,596,702
Quest Diagnostics, Inc.                                  14,609          893,486
UnitedHealth Group, Inc.                                121,729        5,989,067
Wellpoint, Inc. *                                        56,011        4,315,648
                                                                  --------------
                                                                      24,620,184
HOLDINGS COMPANIES/CONGLOMERATES - 3.23%                                        
General Electric Company                                932,930       32,932,429
Loews Corp.                                              41,308        1,565,573
Textron, Inc.                                            11,410          998,375
                                                                  --------------
                                                                      35,496,377
HOMEBUILDERS - 0.24%                                                            
Centex Corp.                                             10,711          563,613
D.R. Horton, Inc.                                        24,618          589,601
KB Home (a)                                               7,097          310,848

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST B (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

HOMEBUILDERS (CONTINUED)                                                        
Lennar Corp., Class A                                    12,508   $      565,987
Pulte Homes, Inc. (a)                                    19,129          609,450
                                                                  --------------
                                                                       2,639,499
HOTELS & RESTAURANTS - 0.97%                                                    
Darden Restaurants, Inc.                                 13,203          560,731
Hilton Hotels Corp.                                      34,864          970,962
Marriott International, Inc., Class A                    31,051        1,199,811
McDonald's Corp.                                        110,824        4,335,435
Starwood Hotels & Resorts Worldwide, Inc.                19,683        1,125,671
Wendy's International, Inc.                              10,634          712,478
Wyndham Worldwide Corp. *                                18,107          506,453
Yum! Brands, Inc.                                        24,466        1,273,455
                                                                  --------------
                                                                      10,684,996
HOUSEHOLD APPLIANCES - 0.10%                                                    
Black & Decker Corp.                                      6,692          531,010
Whirlpool Corp. (a)                                       7,069          594,564
                                                                  --------------
                                                                       1,125,574
HOUSEHOLD PRODUCTS - 0.24%                                                      
Fortune Brands, Inc.                                     13,630        1,023,749
Newell Rubbermaid, Inc.                                  25,024          708,680
The Clorox Company                                       13,660          860,580
                                                                  --------------
                                                                       2,593,009
INDUSTRIAL MACHINERY - 0.98%                                                    
Caterpillar, Inc.                                        59,260        3,899,308
Cummins, Inc.                                             4,750          566,342
Deere & Company                                          20,893        1,753,132
Dover Corp.                                              18,393          872,564
Ingersoll-Rand Company, Class A                          29,076        1,104,306
ITT Corp.                                                16,689          855,645
Pall Corp.                                               11,281          347,568
Parker-Hannifin Corp.                                    10,864          844,459
W.W. Grainger, Inc.                                       6,804          456,004
                                                                  --------------
                                                                      10,699,328
INSURANCE - 4.96%                                                               
ACE, Ltd.                                                29,387        1,608,351
Aetna, Inc.                                              49,496        1,957,567
AFLAC, Inc.                                              44,850        2,052,336
Allstate Corp.                                           56,889        3,568,647
Ambac Financial Group, Inc.                               9,572          792,083
American International Group, Inc.                      234,852       15,561,294
Aon Corp.                                                28,419          962,552
Chubb Corp.                                              37,125        1,929,015
CIGNA Corp.                                              10,022        1,165,759
Cincinnati Financial Corp.                               15,654          752,331
Genworth Financial, Inc.                                 41,119        1,439,576
Hartford Financial Services Group, Inc.                  27,495        2,385,191
Lincoln National Corp.                                   25,948        1,610,876
Marsh & McLennan Companies, Inc.                         49,739        1,400,153
MBIA, Inc.                                               12,178          748,216
MetLife, Inc.                                            68,627        3,889,778

500 INDEX TRUST B (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

INSURANCE (CONTINUED)                                                           
MGIC Investment Corp.                                     7,633   $      457,751
Principal Financial Group, Inc.                          24,336        1,320,958
Progressive Corp.                                        69,787        1,712,573
Prudential Financial, Inc.                               43,830        3,342,037
SAFECO Corp.                                             10,515          619,649
St. Paul Travelers Companies, Inc.                       62,440        2,927,812
TorchmarK Corp.                                           8,941          564,266
UnumProvident Corp.                                      30,954          600,198
XL Capital, Ltd., Class A                                16,293        1,119,329
                                                                  --------------
                                                                      54,488,298
INTERNATIONAL OIL - 2.50%                                                       
Anadarko Petroleum Corp.                                 41,522        1,819,909
ChevronTexaco Corp.                                     198,634       12,883,401
ConocoPhillips                                          148,913        8,864,791
Hess Corp.                                               21,802          903,039
Nabors Industries, Ltd. *                                28,560          849,660
Noble Corp.                                              12,395          795,511
Weatherford International, Ltd. *                        31,269        1,304,543
                                                                  --------------
                                                                      27,420,854
INTERNET RETAIL - 0.36%                                                         
Amazon.com, Inc. * (a)                                   28,395          912,047
eBay, Inc. *                                            106,166        3,010,868
                                                                  --------------
                                                                       3,922,915
INTERNET SERVICE PROVIDER - 0.96%                                               
Google, Inc., Class A *                                  19,254        7,738,183
Yahoo!, Inc. *                                          112,336        2,839,854
                                                                  --------------
                                                                      10,578,037
INTERNET SOFTWARE - 0.29%                                                       
Juniper Networks, Inc. *                                 51,127          883,474
Symantec Corp. *                                         89,394        1,902,304
VeriSign, Inc. *                                         22,153          447,491
                                                                  --------------
                                                                       3,233,269
LEISURE TIME - 0.55%                                                            
Brunswick Corp. (a)                                       8,380          261,372
Carnival Corp.                                           40,214        1,891,264
Electronic Arts, Inc. *                                  27,714        1,543,116
Harrah's Entertainment, Inc.                             16,793        1,115,559
International Game Technology, Inc.                      30,673        1,272,930
                                                                  --------------
                                                                       6,084,241
LIFE SCIENCES - 0.06%                                                           
PerkinElmer, Inc.                                        11,350          214,856
Waters Corp. *                                            9,258          419,202
                                                                  --------------
                                                                         634,058
LIQUOR - 0.38%                                                                  
Anheuser-Busch Companies, Inc.                           69,469        3,300,472
Brown Forman Corp., Class B                               7,097          543,985
Molson Coors Brewing Company, Class B                     4,126          284,282
                                                                  --------------
                                                                       4,128,739

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST B (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

MANUFACTURING - 1.85%                                                           
3M Company                                               68,070   $    5,065,770
Danaher Corp.                                            21,384        1,468,439
Eaton Corp.                                              13,556          933,331
Harley-Davidson, Inc. (a)                                23,697        1,486,987
Honeywell International, Inc.                            74,008        3,026,927
Illinois Tool Works, Inc.                                37,977        1,705,167
Rockwell Automation, Inc.                                15,900          923,790
Snap-on, Inc.                                             5,246          233,709
Stanley Works                                             7,313          364,553
Tyco International, Ltd.                                182,071        5,096,167
                                                                  --------------
                                                                      20,304,840
MEDICAL-HOSPITALS - 0.11%                                                       
Health Management Associates, Inc., Class A              21,714          453,823
Manor Care, Inc. (a)                                      6,657          348,028
Tenet Healthcare Corp. *                                 42,593          346,707
                                                                  --------------
                                                                       1,148,558
METAL & METAL PRODUCTS - 0.14%                                                  
Phelps Dodge Corp.                                       18,434        1,561,360
MINING - 0.24%                                                                  
Freeport-McMoran Copper & Gold, Inc.,                                           
   Class B (a)                                           17,754          945,578
Newmont Mining Corp.                                     40,637        1,737,232
                                                                  --------------
                                                                       2,682,810
NEWSPAPERS - 0.05%                                                              
Dow Jones & Company, Inc. (a)                             5,873          196,980
The New York Times Company, Class A (a)                  13,057          300,050
                                                                  --------------
                                                                         497,030
OFFICE FURNISHINGS & SUPPLIES - 0.16%                                           
Avery Dennison Corp.                                      8,531          513,310
Office Depot, Inc. *                                     25,600        1,016,320
OfficeMax, Inc.                                           6,705          273,162
                                                                  --------------
                                                                       1,802,792
PAPER - 0.26%                                                                   
International Paper Company                              41,083        1,422,704
MeadWestvaco Corp.                                       16,373          434,048
Plum Creek Timber Company, Inc.                          16,196          551,312
Temple-Inland, Inc.                                       9,828          394,103
                                                                  --------------
                                                                       2,802,167
PETROLEUM SERVICES - 4.90%                                                      
Baker Hughes, Inc.                                       29,728        2,027,450
BJ Services Company                                      27,035          814,564
Exxon Mobil Corp.                                       537,251       36,049,542
Halliburton Company                                      93,186        2,651,142
Schlumberger, Ltd.                                      107,002        6,637,334
Smith International, Inc.                                18,100          702,280
Transocean, Inc. *                                       28,473        2,085,078
Valero Energy Corp.                                      55,385        2,850,666
                                                                  --------------
                                                                      53,818,056
PHARMACEUTICALS - 4.99%                                                         
Abbott Laboratories                                     138,069        6,704,631

500 INDEX TRUST B (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

PHARMACEUTICALS (CONTINUED)                                                     
Allergan, Inc.                                           13,628   $    1,534,649
AmerisourceBergen Corp.                                  18,216          823,363
Barr Pharmaceuticals, Inc. *                              9,606          498,936
Bristol-Myers Squibb Company                            177,718        4,428,733
Eli Lilly & Company                                      88,875        5,065,875
Forest Laboratories, Inc. *                              28,735        1,454,278
Gilead Sciences, Inc. *                                  41,285        2,836,279
Hospira, Inc. *                                          14,188          542,975
King Pharmaceuticals, Inc. *                             21,969          374,132
Merck & Company, Inc.                                   196,658        8,239,970
Mylan Laboratories, Inc.                                 19,051          383,497
Pfizer, Inc.                                            658,934       18,687,368
Schering-Plough Corp.                                   133,868        2,957,144
Watson Pharmaceuticals, Inc. *                            9,238          241,758
                                                                  --------------
                                                                      54,773,588
PHOTOGRAPHY - 0.05%                                                             
Eastman Kodak Company (a)                                25,959          581,482

PUBLISHING - 0.35%                                                              
Gannett Company, Inc.                                    21,361        1,213,946
McGraw-Hill Companies, Inc.                              31,801        1,845,412
Meredith Corp.                                            3,519          173,592
Tribune Company (a)                                      17,229          563,733
                                                                  --------------
                                                                       3,796,683
RAILROADS & EQUIPMENT - 0.68%                                                   
Burlington Northern Santa Fe Corp.                       32,711        2,402,296
CSX Corp.                                                40,082        1,315,892
Norfolk Southern Corp.                                   37,397        1,647,338
Union Pacific Corp.                                      24,341        2,142,008
                                                                  --------------
                                                                       7,507,534
REAL ESTATE - 1.07%                                                             
Apartment Investment & Management                                               
   Company, Class A, REIT                                 8,799          478,754
Archstone-Smith Trust, REIT                              19,362        1,054,067
Boston Properties, Inc., REIT                            10,329        1,067,399
Equity Office Properties Trust, REIT                     31,641        1,258,046
Equity Residential, REIT                                 26,294        1,329,951
Kimco Realty Corp., REIT (a)                             19,573          839,095
ProLogis, REIT                                           22,151        1,263,936
Public Storage, Inc., REIT                               10,958          942,278
Realogy Corp., REIT *                                    22,633          513,316
Simon Property Group, Inc., REIT                         19,987        1,811,222
Vornado Realty Trust, REIT                               11,014        1,200,526
                                                                  --------------
                                                                      11,758,590
RETAIL GROCERY - 0.37%                                                          
Safeway, Inc.                                            40,179        1,219,433
SUPERVALU, Inc.                                          19,125          567,056
The Kroger Company                                       65,294        1,510,903
Whole Foods Market, Inc.                                 12,759          758,267
                                                                  --------------
                                                                       4,055,659

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST B (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

RETAIL TRADE - 4.69%                                                            
Bed Bath & Beyond, Inc. *                                25,505   $      975,821
Best Buy Company, Inc.                                   36,742        1,967,901
Big Lots, Inc. *                                          9,838          194,891
Circuit City Stores, Inc.                                12,742          319,952
Costco Wholesale Corp.                                   42,291        2,101,017
CVS Corp.                                                74,232        2,384,332
Dillard's, Inc., Class A (a)                              5,464          178,837
Dollar General Corp. (a)                                 28,192          384,257
Family Dollar Stores, Inc. (a)                           13,703          400,676
Federated Department Stores, Inc.                        49,121        2,122,518
Gap, Inc.                                                48,667          922,240
Home Depot, Inc.                                        186,529        6,765,407
J.C. Penney Company, Inc.                                20,262        1,385,718
Kohl's Corp. *                                           29,587        1,920,788
Limited Brands, Inc.                                     30,696          813,137
Lowe's Companies, Inc.                                  138,080        3,874,525
Nordstrom, Inc.                                          20,640          873,072
RadioShack Corp. (a)                                     12,264          236,695
Sears Holdings Corp. *                                    7,517        1,188,362
Staples, Inc.                                            65,654        1,597,362
Target Corp.                                             77,601        4,287,455
The TJX Companies, Inc.                                  40,622        1,138,635
Tiffany & Company                                        12,485          414,502
Walgreen Company                                         91,094        4,043,663
Wal-Mart Stores, Inc.                                   222,288       10,963,244
                                                                  --------------
                                                                      51,455,007
SANITARY SERVICES - 0.25%                                                       
Allied Waste Industries, Inc. *                          22,921          258,320
Ecolab, Inc.                                             16,145          691,329
Waste Management, Inc.                                   48,845        1,791,634
                                                                  --------------
                                                                       2,741,283
SEMICONDUCTORS - 2.75%                                                          
Advanced Micro Devices, Inc. *                           43,910        1,091,163
Altera Corp. *                                           32,470          596,799
Analog Devices, Inc.                                     31,887          937,159
Applied Materials, Inc.                                 138,621        2,457,750
Broadcom Corp., Class A *                                42,380        1,285,809
Freescale Semiconductor, Inc., Class B *                 36,661        1,393,485
Intel Corp.                                             521,259       10,722,298
KLA-Tencor Corp.                                         17,992          800,104
Linear Technology Corp.                                  27,224          847,211
LSI Logic Corp. * (a)                                    36,111          296,832
Maxim Integrated Products, Inc.                          28,981          813,497
Micron Technology, Inc. *                                65,960        1,147,704
National Semiconductor Corp.                             26,901          632,980
Novellus Systems, Inc. *                                 11,138          308,077
NVIDIA Corp. *                                           31,857          942,649
PMC-Sierra, Inc. * (a)                                   18,887          112,189
QLogic Corp. *                                           14,399          272,141
Teradyne, Inc. *                                         17,804          234,301
Texas Instruments, Inc.                                 138,501        4,605,158

500 INDEX TRUST B (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

SEMICONDUCTORS (CONTINUED)                                                      
Xilinx, Inc.                                             30,715   $      674,194
                                                                  --------------
                                                                      30,171,500
SOFTWARE - 3.10%                                                                
Adobe Systems, Inc. *                                    52,341        1,960,171
Autodesk, Inc. *                                         20,939          728,258
BMC Software, Inc. *                                     18,523          504,196
CA, Inc. (a)                                             40,016          947,979
Citrix Systems, Inc. *                                   16,611          601,484
Compuware Corp. *                                        33,665          262,250
Intuit, Inc. *                                           30,879          990,907
Microsoft Corp.                                         780,550       21,332,432
Novell, Inc. *                                           30,637          187,499
Oracle Corp. *                                          364,512        6,466,443
                                                                  --------------
                                                                      33,981,619
STEEL - 0.24%                                                                   
Allegheny Technologies, Inc. (a)                          9,091          565,369
Nucor Corp.                                              27,863        1,378,940
United States Steel Corp.                                11,122          641,517
                                                                  --------------
                                                                       2,585,826
TELECOMMUNICATIONS EQUIPMENT &                                                  
   SERVICES - 1.17%                                                             
ADC Telecommunications, Inc. * (a)                       10,594          158,910
Avaya, Inc. *                                            41,297          472,438
Ciena Corp. *                                             7,630          207,917
Citizens Communications Company                          28,994          407,076
Comverse Technology, Inc. *                              18,255          391,387
Corning, Inc. *                                         140,958        3,440,785
Embarq Corp.                                             13,476          651,834
JDS Uniphase Corp. * (a)                                152,263          333,456
Lucent Technologies, Inc. *                             405,043          947,800
QUALCOMM, Inc.                                          149,283        5,426,437
Tellabs, Inc. *                                          40,459          443,431
                                                                  --------------
                                                                      12,881,471
TELEPHONE - 3.37%                                                               
ALLTEL Corp.                                             35,077        1,946,774
AT&T, Inc.                                              351,015       11,429,048
BellSouth Corp.                                         164,095        7,015,061
CenturyTel, Inc.                                         10,520          417,328
Qwest Communications International,                                             
   Inc. * (a)                                           144,629        1,261,165
Sprint Nextel Corp.                                     269,976        4,630,088
Verizon Communications, Inc.                            261,960        9,726,575
Windstream Corp. *                                       42,845          565,126
                                                                  --------------
                                                                      36,991,165
TIRES & RUBBER - 0.02%                                                          
Goodyear Tire & Rubber Company * (a)                     16,024          232,348

TOBACCO - 1.48%                                                                 
Altria Group, Inc.                                      189,187       14,482,265
Reynolds American, Inc. (a)                              15,491          959,977
UST, Inc. (a)                                            14,534          796,899
                                                                  --------------
                                                                      16,239,141

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

500 INDEX TRUST B (CONTINUED)                                                   

                                                                [Download Table]

                                               SHARES OR                    
                                           PRINCIPAL AMOUNT       VALUE     
                                           ----------------  -------------- 
                                                                            
COMMON STOCKS (CONTINUED)                                                   

TOYS, AMUSEMENTS & SPORTING GOODS - 0.09%                                   
Hasbro, Inc.                                         14,783  $      336,313 
Mattel, Inc.                                         34,161         672,972 
                                                             -------------- 
                                                                  1,009,285 
TRAVEL SERVICES - 0.59%                                                     
American Express Company                            109,788       6,156,911 
Sabre Holdings Corp.                                 11,911         278,598 
                                                             -------------- 
                                                                  6,435,509 
TRUCKING & FREIGHT - 0.95%                                                  
Fedex Corp.                                          27,691       3,009,458 
Navistar International Corp. *                        5,575         143,947 
Ryder Systems, Inc.                                   5,601         289,460 
United Parcel Service, Inc., Class B                 97,692       7,027,962 
                                                             -------------- 
                                                                 10,470,827 
                                                             -------------- 
TOTAL COMMON STOCKS (Cost $945,031,223)                      $1,088,056,372 
                                                             -------------- 
SHORT TERM INVESTMENTS - 3.77%                                              
Rabobank USA Finance Corp.                                                  
   5.36% due 10/02/2006                      $    8,220,000  $    8,218,776 
State Street Navigator Securities Lending                                   
   Prime Portfolio (c)                           31,586,098      31,586,098 
U.S. Treasury Bills                                                         
   zero coupon due 11/02/2006                     1,600,000       1,592,939 
                                                             -------------- 
TOTAL SHORT TERM INVESTMENTS                                                
(Cost $41,397,813)                                           $   41,397,813 
                                                             -------------- 
TOTAL INVESTMENTS (500 INDEX TRUST B)                                       
   (COST $986,429,036) - 102.90%                             $1,129,454,185 

LIABILITIES IN EXCESS OF OTHER ASSETS -                                     
   (2.90)%                                                      (31,884,060)
                                                             -------------- 
TOTAL NET ASSETS - 100.00%                                   $1,097,570,125 
                                                             ============== 

ACTIVE BOND TRUST                                                               

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 0.00%                                                           

FOOD & BEVERAGES - 0.00%                                                        
R.A.B. Holdings, Inc. *                                      16   $           16
                                                                  --------------
TOTAL COMMON STOCKS (Cost $87,223)                                $           16
                                                                  --------------
PREFERRED STOCKS - 0.06%                                                        

FOOD & BEVERAGES - 0.06%                                                        
Ocean Spray Cranberries, Inc. *                          16,800        1,363,426
R.A.B. Holdings, Inc. *                                       7            1,050
                                                                  --------------
                                                                       1,364,476
                                                                  --------------
TOTAL PREFERRED STOCKS (Cost $1,415,760)                          $    1,364,476
                                                                  --------------

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
WARRANTS - 0.00%                                                                

LEISURE TIME - 0.00%                                                            
Sunterra Corp.                                                                  
   (Expiration date 07/26/2007; strike price                                    
       $20.00)                                              152   $           99
                                                                  --------------
TOTAL WARRANTS (Cost $0)                                          $           99
                                                                  --------------
U.S. TREASURY OBLIGATIONS - 10.44%                                              

U.S. TREASURY BONDS - 1.76%                                                     
   4.50% due 02/15/2036                          $   25,004,000       23,958,908
   6.25% due 08/15/2023 (a)                           1,705,000        1,979,532
   6.875% due 08/15/2025 (a)                         13,565,000       16,948,830
                                                                  --------------
                                                                      42,887,270
U.S. TREASURY NOTES - 8.68%                                                     
   3.875% due 02/15/2013 (a)                            945,000          907,680
   4.25% due 11/15/2013                              37,195,000       36,382,810
   4.75% due 08/31/2011                              91,380,000       91,479,970
   4.875% due 08/15/2016                             59,131,000       60,248,931
   4.875% due 08/31/2008 to 08/15/2009 (a)           22,775,000       22,882,640
                                                                  --------------
                                                                     211,902,031
                                                                  --------------
TOTAL U.S. TREASURY OBLIGATIONS                                                 
(Cost $252,971,187)                                               $  254,789,301
                                                                  --------------
U.S. GOVERNMENT AGENCY OBLIGATIONS - 29.61%                                     

FEDERAL HOME LOAN BANK - 0.33%                                                  
   5.80% due 09/02/2008                               6,865,000        6,948,671
   5.125% due 11/01/2010                              1,115,000        1,114,652
                                                                  --------------
                                                                       8,063,323
FEDERAL HOME LOAN MORTGAGE CORP. - 2.71%                                        
   3.625% due 09/15/2008                              5,882,000        5,735,150
   3.952% due 06/01/2034                              6,713,869        6,538,121
   5.00% due 10/18/2010 to 07/01/2035                 9,394,491        9,178,470
   5.168% due 11/01/2035                              6,199,404        6,094,443
   5.287% due 12/01/2035                              5,994,500        5,913,295
   5.50% due 03/01/2036                              21,657,872       21,360,076
   5.875% due 03/21/2011                              4,049,000        4,174,641
   6.00% due 01/01/2036                               6,998,728        7,037,176
                                                                  --------------
                                                                      66,031,372
FEDERAL NATIONAL MORTGAGE                                                       
   ASSOCIATION - 25.70%                                                         
   2.50% due 06/15/2008                               1,961,000        1,882,107
   3.25% due 08/15/2008                               1,961,000        1,900,909
   3.766% due 07/01/2033 (b)                            360,987          354,437
   4.375% due 03/15/2013                              1,030,000          997,348
   4.50% TBA **                                      38,160,000       36,812,494
   4.919% due 08/01/2034                              5,770,566        5,724,550
   5.00% due 05/01/2018 to 04/01/2036                43,194,903       42,161,854
   5.00% TBA **                                     139,900,000      135,381,798
   5.50% due 03/15/2011 to 05/01/2036                98,788,558       97,863,142
   5.50% TBA **                                      82,900,000       81,899,437
   6.00% due 05/15/2008 to 09/01/2036                93,629,804       94,107,992
   6.00% TBA **                                      78,485,000       78,972,394
   6.50% due 02/01/2036 to 06/01/2036                38,177,426       38,878,442
   6.625% due 09/15/2009                              2,314,000        2,421,680

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
U.S. GOVERNMENT AGENCY                                                          
OBLIGATIONS (CONTINUED)                                                         

FEDERAL NATIONAL MORTGAGE                                                       
   ASSOCIATION (CONTINUED)                                                      
   7.00% due 09/01/2010 to 10/25/2041            $    7,115,270   $    7,296,828
   7.50% due 09/01/2029 to 08/01/2031                   400,733          415,080
                                                                  --------------
                                                                     627,070,492
GOVERNMENT NATIONAL MORTGAGE                                                    
   ASSOCIATION - 0.67%                                                          
   5.00% due 04/15/2035                               6,423,359        6,242,040
   5.50% due 03/15/2035                               6,204,715        6,163,920
   6.00% due 03/15/2033 to 06/15/2033                 2,867,330        2,906,034
   6.50% due 09/15/2028 to 08/15/2031                   621,261          638,787
   7.00% due 04/15/2029                                 159,232          164,500
   8.00% due 10/15/2026 to 05/15/2029                   217,249          230,322
                                                                  --------------
                                                                      16,345,603
THE FINANCING CORP. - 0.20%                                                     
   9.40% due 02/08/2018                                 420,000          575,245
   10.35% due 08/03/2018                              2,950,000        4,315,233
                                                                  --------------
                                                                       4,890,478
                                                                  --------------
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS                                        
(Cost $720,188,036)                                               $  722,401,268
                                                                  --------------
FOREIGN GOVERNMENT OBLIGATIONS - 0.81%                                          

ARGENTINA - 0.14%                                                               
Republic of Argentina                                                           
   zero coupon, Step up to 1.18% on                                             
      03/31/2009 due 12/31/2038 (b)            ARS    8,797,621        1,411,247
   0.275% due 12/15/2035 (b)                         19,532,033          572,529
   5.83% due 12/31/2033 (b)                           3,617,497        1,466,458
                                                                  --------------
                                                                       3,450,234
CANADA - 0.01%                                                                  
Government of Canada                                                            
   5.50% due 06/01/2010                        CAD      270,000          255,282

CHILE - 0.05%                                                                   
Republic of Chile                                                               
   5.90% due 01/28/2008 (b)                      $    1,177,000        1,179,354

COLOMBIA - 0.06%                                                                
Republic of Colombia                                                            
   10.00% due 01/23/2012                              1,005,000        1,171,327
   11.75% due 03/01/2010                       COP  804,000,000          360,444
                                                                  --------------
                                                                       1,531,771
DENMARK - 0.01%                                                                 
Kingdom of Denmark                                                              
   6.00% due 11/15/2009                        DKK    1,200,000          218,203

GERMANY - 0.17%                                                                 
Federal Republic of Germany                                                     
   5.25% due 01/04/2011                        EUR    1,275,000        1,719,612
   5.25% due 01/04/2008                                 875,000        1,131,849
   6.25% due 01/04/2030                                 725,000        1,240,984
                                                                  --------------
                                                                       4,092,445
INDONESIA - 0.05%                                                               
Republic of Indonesia                                                           
   7.50% due 01/15/2016 (a)                      $    1,200,000        1,281,000

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
FOREIGN GOVERNMENT OBLIGATIONS (CONTINUED)                                      

JAPAN - 0.08%                                                                   
Government of Japan                                                             
   0.90% due 12/22/2008                        JPY   29,450,000   $      250,812
   1.50% due 09/20/2014                              68,650,000          581,680
   1.80% due 03/22/2010                             132,350,000        1,156,013
                                                                  --------------
                                                                       1,988,505
MEXICO - 0.09%                                                                  
Government of Mexico                                                            
   8.00% due 12/07/2023                        MXN   11,861,100        1,031,278
   8.00% due 12/19/2013                               8,332,200          748,506
   9.875% due 02/01/2010                         $      290,000          330,890
                                                                  --------------
                                                                       2,110,674
PANAMA - 0.02%                                                                  
Republic of Panama                                                              
   8.875% due 09/30/2027                                344,000          425,700
   9.375% due 07/23/2012                                148,000          173,382
                                                                  --------------
                                                                         599,082
PERU - 0.02%                                                                    
Republic of Peru                                                                
   9.125% due 02/21/2012                                197,000          226,057
   9.875% due 02/06/2015                                148,000          183,150
                                                                  --------------
                                                                         409,207
PHILIPPINES - 0.01%                                                             
Republic of Philippines                                                         
9.125% due 02/22/2010                          EUR      148,000          210,761

SWEDEN - 0.02%                                                                  
Kingdom of Sweden                                                               
   5.00% due 01/28/2009                        SEK    1,570,000          222,022
   5.25% due 03/15/2011                               1,720,000          251,255
                                                                  --------------
                                                                         473,277
TURKEY - 0.03%                                                                  
Republic of Turkey                                                              
   20.00% due 10/17/2007                       TRY    1,180,200          844,447

UKRAINE - 0.02%                                                                 
Republic of Ukraine                                                             
   7.65% due 06/11/2013                          $      500,000          527,950

UNITED KINGDOM - 0.03%                                                          
Government of United Kingdom                                                    
   6.00% due 12/07/2028                        GBP       85,000          198,600
   7.25% due 12/07/2007                                  95,000          182,402
   8.00% due 12/07/2015                                 125,000          294,052
                                                                  --------------
                                                                         675,054
                                                                  --------------
TOTAL FOREIGN GOVERNMENT OBLIGATIONS                                            
(Cost $18,288,390)                                                $   19,847,246
                                                                  --------------
CORPORATE BONDS - 28.52%                                                        

AEROSPACE - 0.14%                                                               
Systems 2001 Asset Trust LLC                                                    
   6.664% due 09/15/2013                         $    2,257,650        2,374,709
   7.156% due 12/15/2011                              1,090,854        1,132,710
                                                                  --------------
                                                                       3,507,419

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

AIR TRAVEL - 0.08%                                                              
Continental Airlines Inc., Series 01-1                                          
   7.033% due 06/15/2011                         $      354,692   $      346,711
Continental Airlines Inc., Series 991A                                          
   6.545% due 02/02/2019                                587,798          597,963
Continental Airlines, Inc., Series 00-2                                         
   8.307% due 04/02/2018                                848,691          823,231
Delta Air Lines, Inc.                                                           
   8.00% due 12/15/2007                                 246,000           68,265
                                                                  --------------
                                                                       1,836,170

AMUSEMENT & THEME PARKS - 0.03%                                                 
HRP Myrtle Beach Operations LLC                                                 
   9.8181% due 04/01/2012 (b)                           705,000          703,238

AUTO PARTS - 0.00%                                                              
Delphi Trust II                                                                 
   6.197% due 11/15/2033 (b)                            118,000           70,800

AUTO SERVICES - 0.04%                                                           
Erac USA Finance Company                                                        
   6.70% due 06/01/2034                                 295,000          310,991
   7.95% due 12/15/2009                                 510,000          547,338
                                                                  --------------
                                                                         858,329
AUTOMOBILES - 0.15%                                                             
DaimlerChrysler N.A. Holding Corp.                                              
   4.05% due 06/04/2008                               1,716,000        1,675,689
   5.875% due 03/15/2011                              1,885,000        1,887,477
                                                                  --------------
                                                                       3,563,166
BANKING - 2.13%                                                                 
Allied Irish Banks PLC                                                          
   7.50% due 12/29/2049 (b)                    EUR       99,000          141,797
BAC Capital Trust XI                                                            
   6.625% due 05/23/2036                         $    3,000,000        3,164,922
Banco Santander Chile                                                           
   5.375% due 12/09/2014                                295,000          290,419
   5.74% due 12/09/2009 (b)                             912,000          914,280
Bank of Ireland                                                                 
   6.45% due 02/10/2010                        EUR       99,000          135,292
BankAmerica Institutional Capital B                                             
   7.70% due 12/31/2026                          $      645,000          671,260
BNP Paribas Capital Trust                                                       
   9.003% due 12/29/2049 (b)                          1,915,000        2,156,342
Chuo Mitsui Trust & Banking Company                                             
   5.506% due 04/15/2049 (b)                          3,085,000        2,957,861
DBS Bank, Ltd.                                                                  
   7.125% due 05/15/2011                                450,000          482,450
HBOS PLC                                                                        
   3.125% due 01/12/2007                                858,000          852,608
   5.375% due 11/29/2049 (b)                          1,128,000        1,107,948
   6.413% due 09/29/2049 (b)                          2,555,000        2,465,958
Independence Community Bank Corp.                                               
   3.75% due 04/01/2014 (b)                             265,000          254,818
Kazkommerts International BV                                                    
   8.50% due 04/16/2013                                 350,000          366,457
Landsbanki Islands HF                                                           
   6.10% due 08/25/2011                               1,635,000        1,652,120
   6.10% due 08/25/2009 (b)                           2,730,000        2,730,000

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

BANKING (CONTINUED)                                                             
MBNA America Bank                                                               
   5.375% due 01/15/2008                         $      875,000   $      875,031
NB Capital Trust IV                                                             
   8.25% due 04/15/2027                               2,039,000        2,139,133
Rabobank Capital Funding II                                                     
   5.26% due 12/29/2049 (b)                           4,225,000        4,134,855
RBS Capital Trust IV                                                            
   6.1669% due 09/29/2049 (b)                           897,000          900,369
Royal Bank of Scotland Group PLC                                                
   7.648% due 08/31/2049 (b)                          3,160,000        3,685,382
Sovereign Capital Trust I                                                       
   9.00% due 04/01/2027                               1,925,000        2,017,100
TuranAlem Finance BV                                                            
   7.875% due 06/02/2010                                638,000          648,004
   8.50% due 02/10/2015                                 600,000          608,580
USB Capital IX                                                                  
   6.189% due 04/15/2042 (b)                          2,480,000        2,508,160
Wachovia Capital Trust II                                                       
   6.0069% due 01/15/2027 (b)                         2,015,000        1,931,857
Wachovia Capital Trust III                                                      
   5.80% due 03/15/2042 (b)                           3,300,000        3,308,956
Washington Mutual Bank FA                                                       
   5.65% due 08/15/2014                                 500,000          500,982
   6.1569% due 01/15/2015 (b)                         1,070,000        1,082,260
Washington Mutual Bank, Series BKNT                                             
   6.75% due 05/20/2036                               2,140,000        2,298,525
Washington Mutual Preferred                                                     
   Funding Delaware                                                             
   6.534% due 03/29/2049 (a)(b)                       1,000,000          982,400
Washington Mutual, Inc.                                                         
   4.20% due 01/15/2010                               1,118,000        1,082,508
   5.625% due 01/15/2007                              1,593,000        1,593,742
   5.6869% due 03/22/2012 (b)                           353,000          352,035
Wells Fargo Company                                                             
   3.50% due 04/04/2008                                 981,000          957,679
                                                                  --------------
                                                                      51,952,090
BROADCASTING - 0.56%                                                            
Clear Channel Communications, Inc.                                              
   5.50% due 09/15/2014                               1,245,000        1,156,717
   6.00% due 11/01/2006 (a)                             491,000          491,121
   7.65% due 09/15/2010                                 736,000          776,002
News America Holdings, Inc.                                                     
   6.75% due 01/09/2038 (a)                             108,000          111,885
   7.75% due 12/01/2045                                 491,000          547,490
   8.25% due 08/10/2018                               1,995,000        2,348,021
Viacom, Inc.                                                                    
   6.25% due 04/30/2016                               1,570,000        1,556,225
   6.625% due 05/15/2011                              3,115,000        3,236,600
   6.875% due 04/30/2036                              2,000,000        1,977,176
XM Satellite Radio, Inc.                                                        
   9.75% due 05/01/2014                               1,595,000        1,523,225
                                                                  --------------
                                                                      13,724,462
BUILDING MATERIALS & CONSTRUCTION - 0.18%                                       
CRH America, Inc.                                                               
   6.00% due 09/30/2016                               4,275,000        4,280,998

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

BUSINESS SERVICES - 0.15%                                                       
Electronic Data Systems Corp.                                                   
   7.125% due 10/15/2009                         $      148,000   $      154,798
Xerox Corp.                                                                     
   6.75% due 02/01/2017                               3,480,000        3,532,200
                                                                  --------------
                                                                       3,686,998
CABLE AND TELEVISION - 0.97%                                                    
Comcast Corp.                                                                   
   5.90% due 03/15/2016                               2,420,000        2,421,116
   6.50% due 11/15/2035                               1,500,000        1,510,447
Comcast Corp., Class A                                                          
   5.30% due 01/15/2014                                 981,000          955,345
   7.05% due 03/15/2033                                 549,000          587,885
Cox Communications, Inc.                                                        
   4.625% due 01/15/2010                              1,103,000        1,072,897
   5.45% due 12/15/2014                                 922,000          890,609
   6.75% due 03/15/2011                                 491,000          511,372
   7.125% due 10/01/2012                              1,745,000        1,859,690
   7.75% due 11/01/2010                                 368,000          397,143
Shaw Communications, Inc.                                                       
   8.25% due 04/11/2010                               1,605,000        1,693,275
TCI Communications, Inc.                                                        
   9.80% due 02/01/2012                               1,575,000        1,860,352
Time Warner Companies, Inc.                                                     
   7.57% due 02/01/2024                               1,716,000        1,857,117
Time Warner Entertainment Company, LP                                           
   8.375% due 07/15/2033                              1,520,000        1,792,682
   8.375% due 03/15/2023                              1,630,000        1,882,443
Time Warner, Inc.                                                               
   6.15% due 05/01/2007                                 687,000          689,692
   6.75% due 04/15/2011                               3,115,000        3,257,919
   7.625% due 04/15/2031                                451,000          498,206
                                                                  --------------
                                                                      23,738,190
CELLULAR COMMUNICATIONS - 0.36%                                                 
America Movil S.A. de CV                                                        
   5.75% due 01/15/2015                               1,495,000        1,472,357
American Tower Corp.                                                            
   7.50% due 05/01/2012 (a)                             638,000          655,545
AT&T Wireless Services, Inc.                                                    
   7.875% due 03/01/2011                                573,000          627,488
   8.75% due 03/01/2031                                 471,000          602,127
Cingular Wireless Services, Inc.                                                
   8.125% due 05/01/2012                              1,200,000        1,350,695
Nextel Communications, Inc.                                                     
   7.375% due 08/01/2015                                148,000          152,697
Nextel Partners, Inc.                                                           
   8.125% due 07/01/2011                              2,200,000        2,310,000
Rogers Wireless, Inc.                                                           
   9.625% due 05/01/2011                                422,000          476,860
Verizon Wireless Capital LLC                                                    
   5.375% due 12/15/2006                              1,103,000        1,102,606
                                                                  --------------
                                                                       8,750,375
CHEMICALS - 0.17%                                                               
Cytec Industries, Inc.                                                          
   6.75% due 03/15/2008                                 677,000          685,114

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

CHEMICALS (CONTINUED)                                                           
ICI Wilmington, Inc.                                                            
   4.375% due 12/01/2008                         $      912,000   $      891,342
Lyondell Chemical Company                                                       
   10.875% due 05/01/2009                             1,150,000        1,175,875
Nova Chemicals Ltd.                                                             
   7.875% due 09/15/2025                              1,470,000        1,334,025
                                                                  --------------
                                                                       4,086,356
COMPUTERS & BUSINESS EQUIPMENT - 0.10%                                          
Cisco Systems, Inc.                                                             
   5.50% due 02/22/2016                               2,490,000        2,509,803

CONSTRUCTION & MINING EQUIPMENT - 0.10%                                         
Kennametal, Inc.                                                                
   7.20% due 06/15/2012                               2,205,000        2,337,820

CONTAINERS & GLASS - 0.07%                                                      
BWAY Corp.                                                                      
   10.00% due 10/15/2010                              1,665,000        1,746,169

CRUDE PETROLEUM & NATURAL GAS - 0.01%                                           
Premcor Refining Group, Inc.                                                    
   7.50% due 06/15/2015                                 206,000          215,246

DIVERSIFIED FINANCIAL SERVICES - 0.13%                                          
Ford Motor Credit Company                                                       
   9.75% due 09/15/2010                               2,683,000        2,770,128
Tate & Lyle International Finance PLC,                                          
   Series 144A                                                                  
   5.00% due 11/15/2014                                 417,000          393,485
                                                                  --------------
                                                                       3,163,613
DOMESTIC OIL - 0.19%                                                            
Devon Financing Corp., ULC                                                      
   6.875% due 09/30/2011                                295,000          313,939
Enterprise Products Operating LP                                                
   6.375% due 02/01/2013                              3,605,000        3,701,520
Hess Corp.                                                                      
   7.30% due 08/15/2031                                 601,000          676,745
                                                                  --------------
                                                                       4,692,204
DRUGS & HEALTH CARE - 0.03%                                                     
Allegiance Corp.                                                                
   7.00% due 10/15/2026                                 255,000          271,532
Wyeth                                                                           
   4.375% due 03/01/2008                                540,000          533,003
                                                                  --------------
                                                                         804,535
ELECTRICAL EQUIPMENT - 0.07%                                                    
Ametek, Inc.                                                                    
   7.20% due 07/15/2008                               1,565,000        1,604,167

ELECTRICAL UTILITIES - 3.07%                                                    
AES Eastern Energy LP, Series 99-A                                              
   9.00% due 01/02/2017                               2,586,459        2,838,639
AES Gener SA                                                                    
   7.50% due 03/25/2014 (a)                             906,000          940,891
American Electric Power Company, Inc.                                           
   5.25% due 06/01/2015                                 540,000          525,218
Appalachian Power Company                                                       
   5.80% due 10/01/2035                               1,961,000        1,851,998
Arizona Public Service Company                                                  
   5.50% due 09/01/2035                               1,118,000          986,685

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

ELECTRICAL UTILITIES (CONTINUED)                                                
Beaver Valley Funding Corp.                                                     
   9.00% due 06/01/2017                          $    2,545,000   $    2,876,970
BVPS II Funding Corp.                                                           
   8.89% due 06/01/2017                                 969,000        1,109,699
CenterPoint Energy Houston Electric LLC,                                        
   Series K2                                                                    
   6.95% due 03/15/2033                                 535,000          594,610
CenterPoint Energy Resources Corp.                                              
   7.875% due 04/01/2013                              1,765,000        1,964,502
Constellation Energy Group Inc.                                                 
   7.60% due 04/01/2032                               1,850,000        2,178,033
CSFB (Empresa Electrica Guacolda SA)                                            
   8.625% due 04/30/2013                                663,600          726,401
Dominion Resources, Inc.                                                        
   5.70% due 09/17/2012 (a)                             368,000          370,217
   6.30% due 09/30/2066 (b)                           5,220,000        5,209,153
   7.50% due 06/30/2066 (b)                           1,680,000        1,764,581
Electricidad De Caracas Finance BV                                              
   10.25% due 10/15/2014                                200,000          210,000
Empresa Nacional De Electricidad                                                
   8.35% due 08/01/2013                                 995,000        1,116,381
   8.50% due 04/01/2009                                 412,000          438,649
Enersis SA                                                                      
   7.375% due 01/15/2014                                633,000          672,806
Entergy (Waterford 3 Funding)                                                   
   8.09% due 01/02/2017                               2,690,111        2,774,069
FirstEnergy Corp.                                                               
   6.45% due 11/15/2011                                 481,000          501,768
   7.375% due 11/15/2031                              1,299,000        1,501,832
HQI Transelec Chile SA                                                          
   7.875% due 04/15/2011                              1,705,000        1,812,877
Ipalco Enterprises, Inc.                                                        
   8.625% due 11/14/2011                              1,655,000        1,774,988
Jersey Central Power & Light                                                    
   6.40% due 05/15/2036                               2,000,000        2,091,190
Monterrey Power SA De CV                                                        
   9.625% due 11/15/2009                                676,740          757,949
National Grid PLC                                                               
   6.30% due 08/01/2016                               3,995,000        4,144,729
Nevada Power Company                                                            
   6.50% due 05/15/2018                               3,925,000        4,079,472
   6.65% due 04/01/2036                               2,330,000        2,408,060
Pacific Gas & Electric Company                                                  
   4.20% due 03/01/2011                               2,329,000        2,233,860
   4.80% due 03/01/2014                                 598,000          575,489
   6.05% due 03/01/2034                               2,636,000        2,651,320
PNPP II Funding Corp.                                                           
   9.12% due 05/30/2016                                 913,000        1,022,333
PSEG Power LLC                                                                  
   5.00% due 04/01/2014                                 736,000          701,357
   8.625% due 04/15/2031 (a)                            736,000          954,297
Scottish Power PLC                                                              
   4.91% due 03/15/2010                               1,265,000        1,244,182
System Energy Resources, Inc.                                                   
   5.129% due 01/15/2014                              2,474,951        2,420,725
Tampa Electric Company                                                          
   6.55% due 05/15/2036                               2,000,000        2,140,870

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

ELECTRICAL UTILITIES (CONTINUED)                                                
Texas-New Mexico Power Company                                                  
   6.125% due 06/01/2008                         $    2,190,000   $    2,210,060
TransAlta Corp.                                                                 
   5.75% due 12/15/2013                               2,455,000        2,450,043
TXU Corp., Series R                                                             
   6.55% due 11/15/2034                               6,175,000        5,816,072
United Energy Distribution Property, Ltd.                                       
   4.70% due 04/15/2011                                 344,000          336,493
Virginia Electric and Power Company                                             
   6.00% due 01/15/2036                               2,000,000        1,982,330
                                                                  --------------
                                                                      74,961,798
ELECTRONICS - 0.04%                                                             
Jabil Circuit, Inc.                                                             
   5.875% due 07/15/2010                                853,000          860,688

ENERGY - 0.78%                                                                  
DTE Energy Company                                                              
   6.35% due 06/01/2016                               2,000,000        2,061,932
Duke Capital LLC                                                                
   6.25% due 02/15/2013                               2,235,000        2,296,556
   6.75% due 02/15/2032 (a)                             589,000          624,316
Enterprise Products Operating LP                                                
   4.95% due 06/01/2010                                 535,000          523,314
Enterprise Products Operating LP, Series B                                      
   5.00% due 03/01/2015 (a)                             574,000          538,299
   6.875% due 03/01/2033                                471,000          484,660
GS Caltex Corp.                                                                 
   5.50% due 08/25/2014                                 471,000          465,255
Kansas City Power & Light Company, Series B                                     
   6.00% due 03/15/2007                                 574,000          575,540
KN Capital Trust I, Series B                                                    
   8.56% due 04/15/2027                                 685,000          687,865
Nexen, Inc.                                                                     
   5.875% due 03/10/2035                                598,000          570,154
Northern Border Pipeline Company                                                
   6.25% due 05/01/2007                                 598,000          600,577
Progress Energy, Inc.                                                           
   5.625% due 01/15/2016 (a)                          2,000,000        1,998,664
Salton Sea Funding Corp., Series E                                              
   8.30% due 05/30/2011                               1,092,265        1,155,102
Salton Sea Funding Corp., Series F                                              
   7.475% due 11/30/2018                              1,563,664        1,645,613
Sempra Energy                                                                   
   4.75% due 05/15/2009                                 437,000          431,316
TXU Energy Company, LLC                                                         
   7.00% due 03/15/2013                               4,170,000        4,378,033
                                                                  --------------
                                                                      19,037,196
FINANCIAL SERVICES - 5.60%                                                      
American Express Company                                                        
   6.80% due 09/01/2066                               1,740,000        1,836,998
American General Finance Corp., Series MTNI                                     
   4.875% due 07/15/2012                              2,715,000        2,640,875
Aries Vermogensverwaltung GmbH, Series REGS                                     
   9.60% due 10/25/2014                                 750,000          968,925
Astoria Depositor Corp.                                                         
   8.144% due 05/01/2021                              2,630,000        2,885,478

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

FINANCIAL SERVICES (CONTINUED)                                                  
AXA Financial, Inc.                                                             
   7.75% due 08/01/2010                          $      533,000   $      577,928
Bank of New York Institutional Capital                                          
   Trust A                                                                      
   7.78% due 12/01/2026                               2,865,000        2,984,660
Bear Stearns Companies, Inc.                                                    
   5.70% due 11/15/2014                                 981,000          995,065
Bosphorus Financial Services Ltd                                                
   7.205% due 02/15/2012 (b)                          2,135,000        2,119,694
Capital One Capital III                                                         
   7.686% due 08/15/2036                              2,890,000        3,079,272
Capital One Financial Corp.                                                     
   6.15% due 09/01/2016                               3,645,000        3,688,241
Caterpillar Financial Services Corp.                                            
   4.50% due 06/15/2009                                 520,000          512,053
CIT Group, Inc.                                                                 
   5.60% due 04/27/2011                               2,035,000        2,054,070
   5.63% due 05/18/2007 (b)                             437,000          437,690
Citigroup, Inc.                                                                 
   5.00% due 09/15/2014                                 912,000          888,540
   5.625% due 08/27/2012                                981,000          998,851
CNOOC Finance 2003 Ltd.                                                         
   5.50% due 05/21/2033                                 545,000          504,460
Credit Suisse First Boston USA, Inc.                                            
   4.625% due 01/15/2008                                443,000          439,771
   6.50% due 01/15/2012                                 491,000          517,277
Dresdner Bank-New York                                                          
   7.25% due 09/15/2015                                 589,000          662,019
E*Trade Financial Corp.                                                         
   7.375% due 09/15/2013                              1,440,000        1,472,400
ERP Operating LP                                                                
   4.75% due 06/15/2009                                 687,000          677,354
ESI Tractebel Acquisition Corp., Series B                                       
   7.99% due 12/30/2011                               2,315,000        2,381,556
FleetBoston Financial Corp.                                                     
   4.875% due 12/01/2006                                701,000          700,399
Ford Motor Credit Company                                                       
   9.875% due 08/10/2011                                940,000          972,723
FPL Group Capital, Inc.                                                         
   6.35% due 10/01/2066 (b)                           1,810,000        1,832,268
Fund American Companies, Inc.                                                   
   5.875% due 05/15/2013                                709,000          700,792
General Electric Capital Corp.                                                  
   5.45% due 01/15/2013                               3,064,000        3,101,418
General Motors Acceptance Corp.                                                 
   6.75% due 12/01/2014                               1,730,000        1,688,921
   6.875% due 09/15/2011                              1,598,000        1,589,534
   7.75% due 01/19/2010                               2,128,000        2,180,442
Goldman Sachs Group, Inc.                                                       
   5.25% due 04/01/2013                               1,226,000        1,212,716
   5.75% due 10/01/2016                               1,500,000        1,514,036
Hartford Financial Services Group, Inc.                                         
   5.95% due 10/15/2036                               1,365,000        1,315,860
Household Finance Corp.                                                         
   6.375% due 10/15/2011                              1,085,000        1,134,077
   6.40% due 06/17/2008                               1,838,000        1,872,760

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

FINANCIAL SERVICES (CONTINUED)                                                  
HSBC Finance Capital Trust IX                                                   
   5.911% due 11/30/2035 (b)                     $    1,900,000   $    1,899,559
HSBC Finance Corp.                                                              
   4.625% due 01/15/2008                                687,000          682,267
   6.75% due 05/15/2011                               2,700,000        2,861,460
HSBC USA, Inc.                                                                  
   4.625% due 04/01/2014 (a)                          2,350,000        2,239,808
Humpuss Funding Corp.                                                           
   7.72% due 12/15/2009                                 503,699          498,662
HVB Funding Trust III                                                           
   9.00% due 10/22/2031                                 500,000          638,964
International Lease Finance Corp.                                               
   3.50% due 04/01/2009                                 677,000          649,212
   4.55% due 10/15/2009                                 393,000          385,153
   4.75% due 07/01/2009                               1,530,000        1,509,642
   5.00% due 04/15/2010                                 549,000          541,402
   5.875% due 05/01/2013                                785,000          805,688
International Lease Finance Corp., Series P                                     
   5.9069% due 01/15/2010 (b)                           652,000          656,702
Jefferies Group, Inc.                                                           
   6.25% due 01/15/2036                               1,700,000        1,640,148
John Deere Capital Corp., Series D                                              
   4.125% due 01/15/2010                              1,961,000        1,898,591
JP Morgan Chase Capital XX                                                      
   6.55% due 09/29/2036                               6,560,000        6,616,016
JPMorgan Chase & Company                                                        
   5.35% due 03/01/2007                                 491,000          490,830
   6.75% due 02/01/2011                                 922,000          975,043
JSG Funding PLC                                                                 
   9.625% due 10/01/2012                              1,605,000        1,693,275
Kaupthing Bank Hf                                                               
   6.07% due 01/15/2010 (b)                           2,000,000        2,000,600
Lehman Brothers Holdings, Inc., Series N                                        
   4.25% due 01/27/2010                               4,245,000        4,121,755
MBNA Capital, Series B                                                          
   6.2888% due 02/01/2027 (b)                         1,157,000        1,151,729
Merrill Lynch & Company, Inc.                                                   
   6.05% due 05/16/2016                               1,880,000        1,941,067
Metallurg Holdings, Inc.                                                        
   10.50% due 10/01/2010                              1,955,000        1,935,450
Mizuho Financial Group (Cayman), Ltd.                                           
   8.375% due 12/29/2049                              2,180,000        2,309,492
Mizuho JGB Investment LLC                                                       
   9.87% due 12/31/2049 (b)                           1,740,000        1,863,613
Morgan Stanley                                                                  
   4.25% due 05/15/2010                               1,633,000        1,579,144
MUFG Capital Finance 1, Ltd.                                                    
   6.346% due 07/29/2049 (b)                          2,485,000        2,505,156
Nelnet, Inc.                                                                    
   7.40% due 09/29/2036 (b)                           2,290,000        2,283,251
Nisource Finance Corp.                                                          
   5.25% due 09/15/2017                               3,440,000        3,209,706
   6.15% due 03/01/2013                                 977,000          990,754
   7.875% due 11/15/2010                                814,000          878,078
Nissan Motor Acceptance Corp.                                                   
   5.625% due 03/14/2011                              2,150,000        2,159,168

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

FINANCIAL SERVICES (CONTINUED)                                                  
Nuveen Investments, Inc., Class A                                               
   5.50% due 09/15/2015                          $    1,451,000   $    1,417,929
Popular North America, Inc.                                                     
   4.70% due 06/30/2009                                 598,000          586,390
Popular North America, Inc., Series E                                           
   6.125% due 10/15/2006                                716,000          716,131
Reliastar Financial Corp.                                                       
   6.50% due 11/15/2008                                 716,000          733,161
Residential Capital Corp.                                                       
   6.00% due 02/22/2011                               2,100,000        2,097,438
   6.6925% due 11/21/2008 (b)                         3,500,000        3,538,363
SB Treasury Company LLC                                                         
   zero coupon, Step up to 10.925% on                                           
      06/30/2008 due 12/29/2049 (b)                     340,000          361,311
Skandinaviska Enskilda Banken AB                                                
   5.471% due 03/29/2049 (b)                          2,100,000        2,009,135
SLM Corp., Series A                                                             
   5.00% due 04/15/2015 (a)                           1,348,000        1,298,867
St. George Funding Company LLC                                                  
   zero coupon, Step up to 8.985% on                                            
      06/30/2017 due 12/31/2049                       3,230,000        3,406,723
State Street Institutional Capital A                                            
   7.94% due 12/30/2026 (c)                             845,000          881,942
The Goldman Sachs Group, Inc.                                                   
   5.125% due 01/15/2015                              2,383,000        2,310,311
Trinity Industries Leasing Companies                                            
   7.755% due 02/15/2009                              1,701,963        1,706,218
Ucar Finance, Inc.                                                              
   10.25% due 02/15/2012                              1,495,000        1,569,750
Waddell & Reed Financial, Inc.                                                  
   5.60% due 01/15/2011                               1,600,000        1,586,890
Western Union Company                                                           
   5.93% due 10/01/2016                               3,000,000        3,024,690
Westfield Capital Corp, Ltd.                                                    
   4.375% due 11/15/2010                                721,000          695,336
                                                                  --------------
                                                                     136,691,093

FOOD & BEVERAGES - 0.36%                                                        
ASG Consolidated LLC/ASG Finance, Inc.                                          
   zero coupon, Step up to 11.5% on                                             
      11/01/2008 due 11/01/2011                       2,150,000        1,870,500
Kellogg Company, Series B                                                       
   6.60% due 04/01/2011                                 481,000          506,093
Kraft Foods, Inc.                                                               
   5.625% due 11/01/2011                                966,000          975,993
Nabisco, Inc.                                                                   
   7.05% due 07/15/2007                                 412,000          415,730
   7.55% due 06/15/2015                               1,471,000        1,672,709
Panamerican Beverages, Inc.                                                     
   7.25% due 07/01/2009                                 675,000          698,625
Smithfield Foods., Inc.                                                         
   7.00% due 08/01/2011                                 897,000          903,728
Tyson Foods, Inc.                                                               
   6.60% due 04/01/2016                               1,755,000        1,807,043
                                                                  --------------
                                                                       8,850,421

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

FOREST PRODUCTS - 0.01%                                                         
Weyerhaeuser Company                                                            
   6.125% due 03/15/2007                         $      258,000   $      258,287

GAS & PIPELINE UTILITIES - 0.72%                                                
CenterPoint Energy Resources Corp.                                              
   6.15% due 05/01/2016                               2,870,000        2,931,648
Dynegy-Roseton Danskammer                                                       
   7.67% due 11/08/2016                               1,155,000        1,178,100
Energy Transfer Partners LP                                                     
   5.95% due 02/01/2015                               2,290,000        2,285,317
Kinder Morgan Energy Partners LP                                                
   5.80% due 03/15/2035                                 402,000          365,707
   7.30% due 08/15/2033                                 603,000          654,100
Magellan Midstream Partners LP                                                  
   6.45% due 06/01/2014                               1,895,000        1,961,424
MarkWest Energy Partners LP                                                     
   8.50% due 07/15/2016                               1,455,000        1,465,912
Michigan Consolidated Gas Company                                               
   5.70% due 03/15/2033                                 736,000          710,088
ONEOK Partners LP                                                               
   6.65% due 10/01/2036                               2,935,000        2,955,571
Plains All American Pipeline LP                                                 
   6.70% due 05/15/2036                               3,000,000        3,130,860
                                                                  --------------
                                                                      17,638,727

HEALTHCARE PRODUCTS - 0.09%                                                     
Boston Scientific Corp.                                                         
   6.40% due 06/15/2016                               2,135,000        2,153,118

HEALTHCARE SERVICES - 0.27%                                                     
Aetna, Inc.                                                                     
   6.625% due 06/15/2036                              2,000,000        2,114,088
Coventry Health Care, Inc.                                                      
   5.875% due 01/15/2012                              1,270,000        1,260,057
UnitedHealth Group, Inc.                                                        
   5.375% due 03/15/2016                              1,130,000        1,118,024
   5.80% due 03/15/2036                                 540,000          530,259
WellPoint, Inc.                                                                 
   3.50% due 09/01/2007                                 706,000          693,003
   3.75% due 12/14/2007                                 540,000          529,534
   5.00% due 12/15/2014                                 417,000          403,089
                                                                  --------------
                                                                       6,648,054
HOLDINGS COMPANIES/CONGLOMERATES - 0.44%                                        
General Electric Company                                                        
   5.00% due 02/01/2013                               6,525,000        6,451,274
Siemens Financierings NV                                                        
   6.125% due 08/17/2026                              3,380,000        3,465,615
SPI Electricity & Gas Australia Holdings                                        
   Party Ltd.                                                                   
   6.15% due 11/15/2013                                 798,000          828,949
                                                                  --------------
                                                                      10,745,838
HOMEBUILDERS - 0.02%                                                            
Pulte Homes, Inc.                                                               
   6.25% due 02/15/2013                                 515,000          519,938

HOTELS & RESTAURANTS - 0.33%                                                    
Hilton Hotels Corp.                                                             
   8.25% due 02/15/2011                                 451,000          485,953

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

HOTELS & RESTAURANTS (CONTINUED)                                                
Hyatt Equities LLC                                                              
   6.875% due 06/15/2007                         $      925,000   $      931,121
Marriott International, Inc.                                                    
   4.625% due 06/15/2012                              1,324,000        1,258,692
Starwood Hotels & Resorts Worldwide, Inc.                                       
   7.875% due 05/01/2012                              3,320,000        3,486,000
Turning Stone Resort Casino Enterprise                                          
   9.125% due 09/15/2014                              1,840,000        1,858,400
                                                                  --------------
                                                                       8,020,166
INDUSTRIAL MACHINERY - 0.13%                                                    
Caterpillar, Inc.                                                               
   7.25% due 09/15/2009                                 687,000          727,366
Weatherford International, Ltd.                                                 
   6.50% due 08/01/2036                               2,400,000        2,447,681
                                                                  --------------
                                                                       3,175,047
INSURANCE - 3.89%                                                               
Ace INA Holdings, Inc.                                                          
   6.70% due 05/15/2036                               6,630,000        6,974,137
Allied World Assurance Holdings Ltd.                                            
   7.50% due 08/01/2016                               8,360,000        8,853,691
American International Group, Inc.                                              
   5.05% due 10/01/2015                               2,300,000        2,241,506
AmerUs Group Company                                                            
   6.583% due 05/16/2011                              1,400,000        1,456,038
AON Capital Trust A                                                             
   8.205% due 01/01/2027                              2,630,000        3,014,811
Arch Capital Group Ltd.                                                         
   7.35% due 05/01/2034                               3,000,000        3,318,225
Assurant, Inc.                                                                  
   5.625% due 02/15/2014                                461,000          459,064
   6.75% due 02/15/2034                               3,955,000        4,174,653
CNA Financial Corp.                                                             
   5.85% due 12/15/2014                               3,217,000        3,190,090
   6.00% due 08/15/2011                               1,580,000        1,602,129
   6.50% due 08/15/2016                               2,000,000        2,055,194
Endurance Specialty Holdings Ltd.                                               
   7.00% due 07/15/2034                               3,600,000        3,600,378
First American Corp.                                                            
   7.55% due 04/01/2028 (a)                           1,485,000        1,625,879
Hartford Financial Services Group, Inc.                                         
   4.625% due 07/15/2013                                417,000          398,752
Horace Mann Educators Corp.                                                     
   6.85% due 04/15/2016                               1,210,000        1,250,113
Liberty Mutual Group, Inc.                                                      
   6.50% due 03/15/2035                               5,037,000        4,805,172
   7.50% due 08/15/2036                               5,570,000        5,974,933
Liberty Mutual Insurance Company                                                
   7.697% due 10/15/2097                              2,180,000        2,231,160
Lincoln National Corp.                                                          
   7.00% due 05/17/2066 (a)(b)                        4,000,000        4,189,624
Markel Corp.                                                                    
   6.80% due 02/15/2013                               1,605,000        1,656,289
   7.35% due 08/15/2034                               1,835,000        1,897,869
Marsh & McLennan Companies, Inc.                                                
   5.375% due 03/15/2007                                829,000          828,491

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

INSURANCE (CONTINUED)                                                           
Marsh & McLennan Companies, Inc.                                                
   (continued)                                                                  
   5.375% due 07/15/2014                         $      319,000   $      306,797
   5.75% due 09/15/2015                               1,962,000        1,924,359
MetLife, Inc.                                                                   
   5.70% due 06/15/2035                               2,780,000        2,701,345
Monumental Global Funding                                                       
   5.20% due 01/30/2007                               1,125,000        1,124,145
North Front Pass-Through Trust                                                  
   5.81% due 12/15/2024 (b)                           1,130,000        1,110,200
Odyssey Re Holdings Corp.                                                       
   7.65% due 11/01/2013 (a)                             785,000          794,145
Ohio Casualty Corp.                                                             
   7.30% due 06/15/2014                               1,830,000        1,948,353
Oil Casualty Insurance, Ltd.                                                    
   8.00% due 09/15/2034                               1,150,000        1,150,427
Provident Financing Trust I                                                     
   7.405% due 03/15/2038                              1,645,000        1,566,150
Prudential Financial, Inc.                                                      
   4.75% due 04/01/2014                               1,343,000        1,284,193
RenaissanceRe Holdings, Ltd.                                                    
   7.00% due 07/15/2008                               1,950,000        1,995,129
Symetra Financial Corp.                                                         
   6.125% due 04/01/2016                              1,650,000        1,664,790
The Phoenix Companies, Inc.                                                     
   6.675% due 02/16/2008                              1,340,000        1,348,107
Transatlantic Holdings, Inc.                                                    
   5.75% due 12/14/2015                               3,055,000        3,018,276
Travelers Property Casualty Corp.                                               
   6.375% due 03/15/2033 (a)                          1,069,000        1,088,920
W.R. Berkley Corp.                                                              
   6.15% due 08/15/2019                                 699,000          699,006
XL Capital, Ltd.                                                                
   5.25% due 09/15/2014                                 741,000          721,354
Zurich Capital Trust I                                                          
   8.376% due 06/01/2037                              4,375,000        4,603,861
                                                                  --------------
                                                                      94,847,755
INTERNATIONAL OIL - 0.47%                                                       
Delek & Avner-Yam Tethys Ltd.                                                   
   5.326% due 08/01/2013                                948,948          927,853
Pemex Project Funding Master Trust                                              
   6.125% due 08/15/2008                                687,000          691,122
   6.69% due 06/15/2010 (b)                             897,000          916,734
   9.125% due 10/13/2010                              1,755,000        1,964,723
Pioneer Natural Resources Company                                               
   5.875% due 07/15/2016                                398,000          372,690
   6.875% due 05/01/2018                              2,300,000        2,284,931
Ras Laffan Liquefied Natural Gas                                                
   3.437% due 09/15/2009                                788,310          763,526
Ras Laffan LNG III                                                              
   5.838% due 09/30/2027                              1,435,000        1,384,545
Vintage Petroleum, Inc.                                                         
   8.25% due 05/01/2012                               1,930,000        2,040,975
                                                                  --------------
                                                                      11,347,099

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

INVESTMENT COMPANIES - 0.18%                                                    
Allied Capital Corp.                                                            
   6.625% due 07/15/2011                         $    4,260,000   $    4,342,559

LEISURE TIME - 0.56%                                                            
AMC Entertainment, Inc.                                                         
   9.50% due 02/01/2011                               1,290,000        1,288,388
Caesars Entertainment, Inc.                                                     
   7.00% due 04/15/2013                               1,775,000        1,824,762
Jacobs Entertainment, Inc.                                                      
   9.75% due 06/15/2014                                 975,000          965,250
Little Traverse Bay Bands of Odawa Indians                                      
   10.25% due 02/15/2014                              1,270,000        1,266,825
Majestic Star Casino LLC                                                        
   9.75% due 01/15/2011                               1,635,000        1,592,081
Mashantucket Western Pequot Tribe                                               
   5.912% due 09/01/2021                                805,000          774,193
MGM Mirage, Inc.                                                                
   6.00% due 10/01/2009                                 816,000          805,800
   6.75% due 04/01/2013                               1,205,000        1,183,913
Mohegan Tribal Gaming Authority                                                 
   6.375% due 07/15/2009                                437,000          433,723
   8.00% due 04/01/2012                                 842,000          872,522
MTR Gaming Group, Inc.                                                          
   9.00% due 06/01/2012                                 330,000          331,650
MTR Gaming Group, Inc., Series B                                                
   9.75% due 04/01/2010                               1,165,000        1,226,162
Pokagon Gaming Authority                                                        
   10.375% due 06/15/2014                               545,000          581,106
Waterford Gaming, LLC                                                           
   8.625% due 09/15/2012                                550,000          581,625
                                                                  --------------
                                                                      13,728,000
LIQUOR - 0.07%                                                                  
Anheuser-Busch Companies, Inc.                                                  
   5.75% due 04/01/2036                               1,000,000        1,007,093
   6.50% due 02/01/2043 (a)                             540,000          595,184
                                                                  --------------
                                                                       1,602,277
MANUFACTURING - 0.12%                                                           
Tyco International Group SA                                                     
   6.875% due 01/15/2029                              2,560,000        2,849,889

MEDICAL-HOSPITALS - 0.48%                                                       
Alliance Imaging, Inc.                                                          
   7.25% due 12/15/2012                               1,420,000        1,327,700
HCA, Inc.                                                                       
   6.375% due 01/15/2015                              1,314,000        1,061,055
   6.50% due 02/15/2016 (a)                           1,800,000        1,440,000
   7.875% due 02/01/2011                                422,000          403,538
Health Management Associates, Inc.                                              
   6.125% due 04/15/2016                              2,645,000        2,560,714
Manor Care, Inc.                                                                
   6.25% due 05/01/2013                               1,935,000        1,953,787
Owens & Minor, Inc.                                                             
   6.35% due 04/15/2016                               3,000,000        3,025,491
                                                                  --------------
                                                                      11,772,285

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

METAL & METAL PRODUCTS - 0.12%                                                  
Alcan, Inc.                                                                     
   5.00% due 06/01/2015                          $      339,000   $      323,379
Inco Ltd.                                                                       
   7.75% due 05/15/2012 (a)                           1,726,000        1,864,812
Vedanta Resources PLC                                                           
   6.625% due 02/22/2010                                785,000          764,394
                                                                  --------------
                                                                       2,952,585
MINING - 0.08%                                                                  
Corporacion Nacional del Cobre                                                  
   5.50% due 10/15/2013                                 481,000          478,970
Drummond Company, Inc.                                                          
   7.375% due 02/15/2016                              1,055,000          991,700
Freeport-McMoran Copper & Gold, Inc.                                            
   10.125% due 02/01/2010                               460,000          487,600
                                                                  --------------
                                                                       1,958,270
PAPER - 0.27%                                                                   
Abitibi-Consolidated, Inc.                                                      
   6.00% due 06/20/2013                               1,113,000          904,313
International Paper Company                                                     
   5.85% due 10/30/2012                               2,157,000        2,204,057
Plum Creek Timberlands LP                                                       
   5.875% due 11/15/2015                              1,650,000        1,632,140
Verso Paper Holdings LLC and Verso Paper,                                       
   Inc.                                                                         
   9.125% due 08/01/2014                              1,765,000        1,776,031
                                                                  --------------
                                                                       6,516,541
PETROLEUM SERVICES - 0.46%                                                      
Anadarko Petroleum Corp.                                                        
   3.25% due 05/01/2008                               3,250,000        3,141,525
   6.45% due 09/15/2036                                 930,000          949,929
Enterprise Products Operating LP                                                
   8.375% due 08/01/2066 (b)                          3,700,000        3,894,557
Premcor Refining Group, Inc.                                                    
   9.50% due 02/01/2013                                 765,000          833,588
Valero Logistics Operations LP                                                  
   6.05% due 03/15/2013                               2,392,000        2,425,773
                                                                  --------------
                                                                      11,245,372
PHARMACEUTICALS - 0.49%                                                         
Abbott Laboratories                                                             
   5.875% due 05/15/2016                              2,330,000        2,413,759
AmerisourceBergen Corp.                                                         
   5.875% due 09/15/2015                              1,961,000        1,922,517
Caremark Rx, Inc.                                                               
   7.375% due 10/01/2006                              1,319,000        1,319,000
Hospira, Inc.                                                                   
   5.90% due 06/15/2014                                 412,000          410,093
Medco Health Solutions, Inc.                                                    
   7.25% due 08/15/2013                               1,635,000        1,774,600
Schering Plough Corp.                                                           
   5.55% due 12/01/2013                                 937,000          940,050
Teva Pharmaceutical Finance LLC                                                 
   5.55% due 02/01/2016                               1,680,000        1,649,568
   6.15% due 02/01/2036                               1,680,000        1,616,808
                                                                  --------------
                                                                      12,046,395

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

REAL ESTATE - 1.77%                                                             
Boston Properties, Ltd., REIT                                                   
   6.25% due 01/15/2013                          $      785,000   $      814,840
Camden Property Trust, REIT                                                     
   5.00% due 06/15/2015                                 804,000          769,562
Colonial Properties Trust, REIT                                                 
   6.25% due 06/15/2014                                 554,000          565,876
Colonial Realty LP                                                              
   5.50% due 10/01/2015                               1,569,000        1,528,819
Developers Diversified Realty Corp., REIT                                       
   4.625% due 08/01/2010                              1,103,000        1,069,081
Duke Realty Corp., REIT                                                         
   5.6469% due 12/22/2006 (b)                           417,000          417,071
Equity One, Inc., REIT                                                          
   6.25% due 01/15/2017                               1,460,000        1,489,092
Health Care Property Investors, Inc., REIT                                      
   6.30% due 09/15/2016                               4,040,000        4,067,015
Health Care Property Investors, Inc.,                                           
   Series MTN, REIT                                                             
   4.875% due 09/15/2010                              1,471,000        1,428,669
   5.625% due 02/28/2013                              2,480,000        2,438,810
Health Care REIT, Inc.                                                          
   6.00% due 11/15/2013                                 755,000          752,243
   6.20% due 06/01/2016                               2,825,000        2,844,360
Healthcare Realty Trust, Inc., REIT                                             
   8.125% due 05/01/2011                              1,995,000        2,169,221
Hospitality Properties Trust, REIT                                              
   6.75% due 02/15/2013                               3,028,000        3,183,191
iStar Financial, Inc., REIT                                                     
   5.94% due 03/16/2009 (b)                           1,800,000        1,812,096
   6.05% due 04/15/2015                               1,030,000        1,040,215
Nationwide Health Properties, Inc., REIT                                        
   6.50% due 07/15/2011                               1,420,000        1,452,038
Price, Inc., REIT                                                               
   7.50% due 11/05/2006                                 491,000          491,692
Realty Income Corp.                                                             
   5.95% due 09/15/2016                               3,030,000        3,066,190
Rouse Company LP, REIT                                                          
   6.75% due 05/01/2013                               1,685,000        1,683,908
Rouse Company, REIT                                                             
   3.625% due 03/15/2009                              2,800,000        2,651,840
   5.375% due 11/26/2013                                456,000          421,534
Simon Property Group LP, REIT                                                   
   5.75% due 12/01/2015                               1,500,000        1,512,032
   6.10% due 05/01/2016                               1,000,000        1,031,176
Socgen Real Estate Company LLC                                                  
   7.64% due 12/29/2049 (b)                           2,501,000        2,554,742
Vornado Realty, LP                                                              
   5.60% due 02/15/2011                               2,000,000        1,999,391
                                                                  --------------
                                                                      43,254,704
RETAIL - 0.04%                                                                  
JC Penney Corp., Inc.                                                           
   8.125% due 04/01/2027                                965,000          996,994

SANITARY SERVICES - 0.03%                                                       
Waste Management, Inc.                                                          
   7.75% due 05/15/2032                                 625,000          749,396

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

TELECOMMUNICATIONS EQUIPMENT &                                                  
SERVICES - 0.60%                                                                
Citizens Communications Company                                                 
   6.25% due 01/15/2013                          $    1,460,000   $    1,419,850
   9.00% due 08/15/2031                               1,900,000        2,037,750
Deutsche Telekom International Finance BV                                       
   6.625% due 07/11/2011                       EUR       99,000          139,130
   8.00% due 06/15/2010                          $    1,098,000        1,197,802
   8.25% due 06/15/2030 (b)                           1,358,000        1,659,055
Embarq Corp.                                                                    
   7.082% due 06/01/2016                              2,095,000        2,137,107
   7.995% due 06/01/2036                              1,000,000        1,058,903
France Telecom SA                                                               
   7.75% due 03/01/2011                                 996,000        1,091,194
   8.50% due 03/01/2031 (b)                           1,009,000        1,316,487
Intelsat Ltd.                                                                   
   10.4844% due 01/15/2012 (b)                          455,000          461,256
SBC Communications, Inc.                                                        
   4.125% due 09/15/2009                                368,000          356,363
   5.10% due 09/15/2014                                 799,000          771,990
   5.625% due 06/15/2016                                613,000          606,276
Singapore Telecommunications, Ltd.                                              
   6.375% due 12/01/2011                                466,000          487,477
                                                                  --------------
                                                                      14,740,640
TELEPHONE - 1.10%                                                               
AT&T Corp.                                                                      
   8.00% due 11/15/2031 (b)                           2,305,000        2,817,298
AT&T, Inc.                                                                      
   6.80% due 05/15/2036 (a)                           2,055,000        2,158,845
BellSouth Corp.                                                                 
   4.20% due 09/15/2009                                 613,000          594,531
   6.00% due 11/15/2034 (a)                           2,000,000        1,877,326
Sprint Capital Corp.                                                            
   6.125% due 11/15/2008                                838,000          850,275
   6.375% due 05/01/2009                                613,000          627,792
   6.875% due 11/15/2028                              4,383,000        4,442,000
   8.375% due 03/15/2012                                398,000          446,072
   8.75% due 03/15/2032                               2,069,000        2,523,143
Telecom Italia Capital SA                                                       
   4.00% due 01/15/2010                               3,195,000        3,027,295
   4.00% due 11/15/2008                                 981,000          951,601
   7.20% due 07/18/2036                               2,990,000        3,073,107
Verizon Communications, Inc.                                                    
   5.55% due 02/15/2016                               2,700,000        2,664,371
Verizon, New York, Inc.                                                         
   6.875% due 04/01/2012                                765,000          797,770
                                                                  --------------
                                                                      26,851,426
TOBACCO - 0.07%                                                                 
Altria Group, Inc.                                                              
   7.00% due 11/04/2013                                 337,000          367,439
Reynolds American, Inc.                                                         
   7.25% due 06/01/2013                               1,290,000        1,327,446
                                                                  --------------
                                                                       1,694,885

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

TRANSPORTATION - 0.11%                                                          
CMA CGM SA                                                                      
   7.25% due 02/01/2013                          $    2,160,000   $    2,116,800
Overseas Shipholding Group, Inc.                                                
   8.25% due 03/15/2013                                 148,000          153,180
   8.75% due 12/01/2013                                 425,000          455,813
                                                                  --------------
                                                                       2,725,793
TRAVEL SERVICES - 0.06%                                                         
TDS Investor Corp.                                                              
   9.875% due 09/01/2014                              1,635,000        1,577,775

UTILITY SERVICE - 0.03%                                                         
Public Service Company of New Mexico                                            
   4.40% due 09/15/2008                                 667,000          653,895
                                                                  --------------
TOTAL CORPORATE BONDS (Cost $697,333,124)                         $  695,847,054
                                                                  --------------
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS - 22.86%                                                            
American Home Mortgage Investment Trust,                                        
   Series 2004-4, Class 5A                                                      
   4.44% due 02/25/2045                               5,680,423        5,559,951
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2004-4, Class A3                                                      
   4.128% due 07/10/2042                              1,602,716        1,560,166
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2005-2, Class AJ                                                      
   4.953% due 07/10/2043 (b)                          2,524,154        2,447,180
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2005-4, Class A5A                                                     
   4.933% due 07/10/2045                              1,575,000        1,529,387
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2005-5, Class G                                                       
   5.402% due 10/10/2015                              1,800,000        1,745,341
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2005-6, Class A4                                                      
   5.1815% due 09/10/2047 (b)                         3,075,000        3,056,257
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2005-6, Class H                                                       
   5.1815% due 09/10/2047 (b)                         1,650,000        1,591,341
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2006-1, Class XC                                                      
   5.421% due 09/10/2045 (b)                        259,275,348        1,887,784
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2006-2, Class A3                                                      
   5.7126% due 05/10/2045 (b)                         7,420,000        7,615,799
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2006-3, Class A4                                                      
   5.889% due 07/10/2044                              4,420,000        4,460,576
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2006-4, Class A3A                                                     
   5.60% due 08/10/2013                               4,215,000        4,286,025
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2006-4, Class XC                                                      
   1.00% due 07/10/2046                             356,049,191        4,450,615
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2006-5, Class A4                                                      
   5.46% due 09/10/2016                               5,125,000        5,150,869

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         
Banc of America Funding Corp.,                                                  
   Series 2006-B, Class 6A1                                                     
   5.8885% due 03/20/2036 (b)                    $    3,015,209   $    3,034,632
Banc of America Funding Corp.,                                                  
   Series 2006-D, Class 6B1                                                     
   5.9771% due 05/20/2036 (b)                         1,716,167        1,721,003
Banc of America Large Loan,                                                     
   Series 2005-BBA6, Class B                                                    
   5.54% due 01/15/2019 (b)                           4,265,000        4,266,866
Banc of America Large Loan,                                                     
   Series 2005-ESHA, Class E                                                    
   5.91% due 07/14/2020 (b)                           2,000,000        2,002,422
Banc of America Large Loan,                                                     
   Series 2005-MIB1, Class B                                                    
   5.59% due 03/15/2022 (b)                           4,495,000        4,497,759
Banc of America Large Loan, Series 2006-LAQ,                                    
   Class H                                                                      
   6.01% due 02/09/2021 (b)                           2,475,000        2,484,193
Bank of America Commercial Mortgage, Inc.,                                      
   Series 2001-3, Class A1                                                      
   4.89% due 04/11/2037                                 547,029          543,837
Bear Stearns Alt-A Trust, Series 2005-3,                                        
   Class B2 5.3243% due 04/25/2035 (b)                1,106,774        1,099,727
Bear Stearns Alt-A Trust, Series 2006-1,                                        
   Class 23A1 5.6387% due 02/25/2036 (b)              2,790,097        2,790,671
Bear Stearns Alt-A Trust, Series 2006-3,                                        
   Class 34A1 6.1924% due 05/25/2036 (b)              3,089,629        3,134,665
Bear Stearns Asset Backed Securities, Inc.,                                     
   Series 2003-AC4, Class A                                                     
   5.00% due 09/25/2033                                 659,445          647,546
Bear Stearns Asset Backed Securities, Inc.,                                     
   Series 2004-AC5, Class A1                                                    
   5.25% due 10/25/2034                                 583,630          575,271
Bear Stearns Commercial Mortgage Securities,                                    
   Inc., Series 2003-T10, Class A2                                              
   4.74% due 03/13/2040                               4,554,000        4,433,280
Bear Stearns Commercial Mortgage Securities,                                    
   Inc., Series 2004-PWR5, Class X1                                             
   0.076% IO due 07/11/2042 (b)                      35,207,447          739,884
Bear Stearns Commercial Mortgage Securities,                                    
   Inc., Series 2004-T16, Class X1                                              
   0.1613% IO due 02/13/2046 (b)                     32,513,214          636,758
Bear Stearns Commercial Mortgage Securities,                                    
   Series 2005-PWR8, Class AJ                                                   
   4.75% due 06/11/2041                               2,347,708        2,237,450
Bear Stearns Commercial Mortgage Securities,                                    
   Series 2005-T20, Class A4A                                                   
   5.1555% due 10/12/2042 (b)                         1,525,000        1,513,466
Bear Stearns Commercial Mortgage Securities,                                    
   Series 2006-BBA7, Class G                                                    
   5.77% due 03/15/2019 (b)                           2,300,000        2,300,015
Bear Stearns Commercial Mortgage Securities,                                    
   Series 2002-TOP8, Class A2                                                   
   4.83% due 08/15/2038                               4,910,000        4,807,558
Bear Stearns Commercial Mortgage Securities,                                    
   Series 2006-PW13, Class D                                                    
   5.75% due 09/11/2041                               5,155,000        5,226,599

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         
Bear Stearns Commercial Mortgage Securities,                                    
   Series 2006-PW13, Class X1                                                   
   .048% due 09/11/2041                          $  276,000,000   $    3,793,896
Chase Commercial Mortgage Securities Corp.,                                     
   Series 2000-2, Class C                                                       
   7.928% due 07/15/2032                              1,470,381        1,605,643
Chaseflex Trust, Series 2005-2, Class 4A1                                       
   5.00% due 05/25/2020                               3,037,100        2,963,070
Citigroup Commercial Mortgage Trust,                                            
   Series 2006-C4, Class A3                                                     
   5.7203% due 03/15/2049 (b)                         3,165,000        3,263,763
Citigroup Mortgage Loan Trust, Inc.,                                            
   Series 2005-1, Class 2B1                                                     
   4.7493% due 04/25/2035 (b)                         1,690,608        1,684,478
Citigroup Mortgage Loan Trust, Inc.,                                            
   Series 2005-10, Class 1A5A                                                   
   5.8771% due 12/25/2035 (b)                         2,615,459        2,628,927
Citigroup Mortgage Loan Trust, Inc.,                                            
   Series 2005-5, Class 2A3                                                     
   5.00% due 08/25/2035                               1,878,759        1,837,661
Citigroup/Deutsche Bank Commercial Mortgage                                     
   Trust, Series 2005-CD1, Class C                                              
   5.2255% due 07/15/2044 (b)                         1,055,000        1,043,790
Citigroup/Deutsche Bank Commercial                                              
   Mortgage Trust, Series 2005-CD1, Class A4                                    
   5.2255% due 07/15/2044 (b)                         2,080,000        2,072,970
Citigroup/Deutsche Bank Commercial Mortgage,                                    
   Series 2006-CD2, Class X                                                     
   0.0867% IO due 01/15/2046 (b)                    528,749,735        3,092,816
Commercial Mortgage Pass-Through                                                
   Certificates, Series 2005-C6, Class XC1                                      
   0.04% IO due 06/10/2044 (b)                      339,244,190        2,329,420
Commercial Mortgage Pass-Through                                                
   Certificates, Series 2006-C7, Class A3                                       
   5.7071% due 06/10/2046 (b)                         2,945,000        3,024,246
Commercial Mortgage Pass-Through                                                
   Certificates, Series 2006-CN2A, Class H                                      
   5.5699% due 02/05/2019 (b)                         1,620,000        1,626,978
Commercial Mortgage, Series 2003-LB1A,                                          
   Class A2                                                                     
   4.084% due 06/10/2038                              2,475,141        2,314,577
Commercial Mortgage, Series 2005-C6, Class B                                    
   5.2190% due 06/10/2044 (b)                         2,450,635        2,424,741
Commercial Mortgage, Series 2005-C6, Class G                                    
   5.459% due 06/10/2044                              1,475,000        1,425,794
Commercial Mortgage, Series 2005-FL11,                                          
   Class AJ                                                                     
   5.53% due 11/15/2017 (b)                           3,000,000        3,000,860
Countrywide Alternative Loan Trust,                                             
   Series 2004-24CB, Class 1A1                                                  
   6.00% due 11/25/2034                               1,434,353        1,431,216
Countrywide Alternative Loan Trust,                                             
   Series 2004-J7, Class 1A2                                                    
   4.673% due 08/25/2034 (b)                            453,398          449,721
Countrywide Alternative Loan Trust,                                             
   Series 2005-2, Class 1A1                                                     
   5.1039% due 03/25/2035 (b)                         9,766,687        9,755,536

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         
Countrywide Alternative Loan Trust,                                             
   Series 2005-J1, Class 3A1                                                    
   6.50% due 08/25/2032                          $    1,332,617   $    1,345,943
Countrywide Alternative Loan Trust,                                             
   Series 2006-11CB, Class 3A1                                                  
   6.50% due 05/25/2036                               4,401,920        4,447,072
Countrywide Home Loan Mortgage Pass Through                                     
   Trust, Series 2004-HYB2, Class 4A                                            
   4.5342% due 07/20/2034 (b)                         6,762,992        6,683,729
Countrywide Home Loan Mortgage Pass Through                                     
   Trust, Series 2006-HYB5, Class 1A1                                           
   5.9828% due 09/20/2036 (b)                         7,082,522        7,142,015
Countrywide Home Loan Trust,                                                    
   Series 2005-12, Class 2A5                                                    
   5.50% due 05/25/2035                                 749,452          744,233
Countrywide Home Loan Trust,                                                    
   Series 2005-HYB6, Class 1A1                                                  
   5.0512% due 10/20/2035 (b)                         5,841,685        5,815,639
Countrywide Home Loans, Series 2005-6,                                          
   Class 2A1                                                                    
   5.50% due 04/25/2035                               1,732,506        1,683,239
Credit Suisse Mortgage Capital Certificates,                                    
   Series 2006-C4, Class AJ                                                     
   5.538% due 09/15/2039 (b)                          4,475,000        4,497,375
Credit Suisse Mortgage Capital Certificates,                                    
   Series 2006-C4, Class AX                                                     
   .0593% IO due 09/15/2039 (b)                     354,945,459        6,077,021
Credit Suisse Mortgage Capital Certificates,                                    
   Series 2006-TFLA, Class B                                                    
   5.56% due 04/15/2021 (b)                           4,095,000        4,096,255
Crown Castle Towers LLC,                                                        
   Series 2005-1A, Class AFX                                                    
   4.643% due 06/15/2035                              1,630,000        1,592,357
Crown Castle Towers LLC, Series 2005-1A,                                        
   Class D 5.612% due 06/15/2035                      3,025,000        3,016,885
CS First Boston Mortgage Securities Corp,                                       
   Series 2003-CPN1, Class A2                                                   
   4.597% due 03/15/2035                              6,755,000        6,517,882
CS First Boston Mortgage Securities Corp.,                                      
   Series 2001-CF2, Class A3                                                    
   6.238% due 02/15/2034                                874,775          881,676
CS First Boston Mortgage Securities Corp.,                                      
   Series 2001-CKN5, Class A4                                                   
   5.435% due 09/15/2034                              1,715,445        1,731,053
CS First Boston Mortgage Securities Corp.,                                      
   Series 2001-CP4, Class A4                                                    
   6.18% due 12/15/2035                               1,592,913        1,654,479
CS First Boston Mortgage Securities Corp.,                                      
   Series 2002-CKN2, Class A3                                                   
   6.133% due 04/15/2037                                980,254        1,020,158
CS First Boston Mortgage Securities Corp.,                                      
   Series 2004-C4, Class A4                                                     
   4.283% due 10/15/2039                                539,140          516,945
CS First Boston Mortgage Securities Corp.,                                      
   Series 2005-C1, Class AX                                                     
   0.0852% IO due 02/15/2038 (b)                     59,326,420          707,242

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
   OBLIGATIONS (CONTINUED)                                                      
CS First Boston Mortgage Securities Corp.,                                      
   Series 2005-C1, Class F                                                      
   4.821% due 02/15/2038                         $    1,030,000   $      969,294
CS First Boston Mortgage Securities Corp.,                                      
   Series 2005-C2, Class B                                                      
   5.016% due 04/15/2037 (b)                          2,881,947        2,798,475
CS First Boston Mortgage Securities Corp.,                                      
   Series 2005-C4, Class F                                                      
   5.3918% due 08/15/2038 (b)                         2,575,000        2,520,177
CS First Boston Mortgage Securities Corp.,                                      
   Series 2005-C4, Class G                                                      
   5.3918% due 08/15/2038 (b)                         2,235,000        2,172,609
CS First Boston Mortgage Securities Corp.,                                      
   Series 2005-TF2A, Class K                                                    
   6.53% due 09/15/2020 (b)                           1,000,000        1,000,006
Deutsche Mortgage and Asset Receiving Corp.,                                    
   Series 1998-C1, Class C                                                      
   6.861% due 06/15/2031                              1,160,000        1,180,458
Federal Home Loan Mortgage Corp.,                                               
   Series 24989, Class PE                                                       
   6.00% due 08/15/2032                               2,215,000        2,246,075
Federal Home Loan Mortgage Corp.,                                               
   Series 2003-2640, Class WA                                                   
   3.50% due 03/15/2033                                 511,443          491,284
Federal Home Loan Mortgage Corp.,                                               
   Series 2005-3019, Class MD                                                   
   4.75% due 01/15/2031                               7,389,228        7,293,289
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3153, Class NE                                                   
   5.50% due 05/15/2034                               4,448,000        4,368,267
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3154, Class PM                                                   
   5.50% due 05/15/2034                               3,821,810        3,733,389
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3184, Class PD                                                   
   5.50% due 07/15/2034                              13,147,000       13,013,048
Federal National Mortgage Association Whole                                     
   Loan, Series 2002-W3, Class A5                                               
   7.50% due 01/25/2028                                 516,111          535,633
Federal National Mortgage Association,                                          
   Series 2003-33, Class AC                                                     
   4.25% due 03/25/2033                                 443,674          425,735
Federal National Mortgage Association,                                          
   Series 2003-49, Class JE                                                     
   3.00% due 04/25/2033                               2,228,501        1,990,419
Federal National Mortgage Association,                                          
   Series 2003-58, Class AD                                                     
   3.25% due 07/25/2033                               1,269,437        1,162,209
Federal National Mortgage Association,                                          
   Series 2003-63, Class PE                                                     
   3.50% due 07/25/2033                               1,021,695          928,653
Federal National Mortgage Association,                                          
   Series 2006-57, Class PD                                                     
   5.50% due 01/25/2035                               5,100,000        5,001,269
Federal National Mortgage Association,                                          
   Series 2006-64, Class PC                                                     
   5.50% due 10/25/2034                               3,891,000        3,815,048

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
   OBLIGATIONS (CONTINUED)                                                      
Federal National Mortgage Association,                                          
   Series 2006-65, Class HE                                                     
   5.50% due 02/25/2035                          $    5,571,000   $    5,440,958
Federal National Mortgage Association,                                          
   Series 2006-67, Class PD                                                     
   5.50% due 12/25/2034                               4,162,000        4,080,817
FHLMC Structured Pass Through Securities,                                       
   Series T-41, Class 3A                                                        
   7.50% due 07/25/2032                                 264,208          273,957
First Horizon Alternative Mortgage                                              
   Securities, Series 2004-AA5, Class B1                                        
   5.2288% due 12/25/2034 (b)                           855,851          847,299
First Horizon Alternative Mortgage                                              
   Securities, Series 2006-AA2, Class B1                                        
   6.2359% due 05/25/2036 (b)                         1,294,222        1,310,995
First Union National Bank Commercial                                            
   Mortgage Trust, Series 2001-C2, Class A1                                     
   6.204% due 01/12/2043                              1,479,867        1,494,014
First Union National Bank Commercial                                            
   Mortgage Trust, Series 2002-C1, Class A1                                     
   5.585% due 02/12/2034                                609,435          613,745
GE Capital Commercial Mortgage Corp.,                                           
   Series 2001-1, Class A1                                                      
   6.079% due 05/15/2033                                 81,791           83,114
GE Capital Commercial Mortgage Corp.,                                           
   Series 2001-3, Class A2                                                      
   6.07% due 06/10/2038                               1,102,786        1,145,580
GE Capital Commercial Mortgage Corp.,                                           
   Series 2002-2A, Class A3                                                     
   5.349% due 08/11/2036                                735,191          739,618
GE Capital Commercial Mortgage Corp.,                                           
   Series 2005-C1, Class XC                                                     
   0.0824% IO due 06/10/2048 (b)                     93,067,620        1,223,141
GE Capital Commercial Mortgage Corp.,                                           
   Series 2005-C2, Class C                                                      
   5.133% due 05/10/2043 (b)                          2,171,263        2,127,514
GE Capital Commercial Mortgage Corp.,                                           
   Series 2005-C4, Class H                                                      
   5.3328% due 11/10/2045 (b)                         1,550,000        1,501,192
G-Force LLC, Series 2005-RR2, Class A4B                                         
   5.422% due 12/25/2039                              2,425,000        2,369,920
Global Signal Trust, Series 2004-2A, Class D                                    
   5.093% due 12/15/2014                              1,700,000        1,684,290
Global Signal Trust, Series 2006-1, Class E                                     
   6.495% due 02/15/2036                              2,125,000        2,122,124
GMAC Commercial Mortgage Securities, Inc.,                                      
   Series 1997-C1, Class A3                                                     
   6.869% due 07/15/2029                                138,847          139,804
GMAC Commercial Mortgage Securities, Inc.,                                      
   Series 2001-C1, Class A1                                                     
   5.988% due 04/15/2034                              1,841,982        1,843,033
GMAC Commercial Mortgage Securities, Inc.,                                      
   Series 2002-C1, Class A1                                                     
   5.785% due 11/15/2039                              2,173,153        2,195,730
GMAC Mortgage Corp. Loan Trust,                                                 
   Series 2006-AR1, Class 2A1                                                   
   5.6518% due 04/19/2036 (b)                         1,679,587        1,681,445

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
   OBLIGATIONS (CONTINUED)                                                      
Government National Mortgage Association,                                       
   Series 2003-42, Class XA                                                     
   3.75% due 05/16/2033                          $      241,690   $      226,146
Greenwich Capital Commercial Funding Corp.,                                     
   Series 2002-C1, Class A2                                                     
   4.112% due 01/11/2017                              2,162,340        2,111,483
Greenwich Capital Commercial Funding Corp.,                                     
   Series 2003-C2, Class A2                                                     
   4.022% due 01/05/2036                                900,000          876,207
Greenwich Capital Commercial Funding Corp.,                                     
   Series 2005-GG5, Class A2                                                    
   5.117% due 04/10/2037                              4,305,000        4,297,794
Greenwich Capital Commercial Funding Corp.,                                     
   Series 2006-GG7, Class A4                                                    
   6.1101% due 07/10/2038 (b)                         4,025,000        4,209,192
GS Mortgage Securities Corp. II,                                                
   Series 2005-GG4, Class E                                                     
   5.078% due 07/10/2039 (b)                          2,627,081        2,538,010
GS Mortgage Securities Corp. II,                                                
   Series 2005-GG4, Class XC                                                    
   0.1026% IO due 07/10/2039 (b)                    103,426,581        2,057,134
GSR Mortgage Loan Trust, Series 2005-AR5,                                       
   Class 1A1                                                                    
   4.5887% due 10/25/2035 (b)                         6,840,358        6,875,453
GSR Mortgage Loan Trust, Series 2004-9,                                         
   Class B1                                                                     
   4.5775% due 08/25/2034 (b)                         1,971,081        1,938,486
GSR Mortgage Loan Trust, Series 2006-AR1,                                       
   Class 3A1                                                                    
   5.4129% due 01/25/2036 (b)                         4,668,839        4,637,475
Harborview Mortgage Loan Trust,                                                 
   Series 2004-7, Class 2A3                                                     
   4.3985% due 11/19/2034 (b)                         3,191,737        3,231,510
Harborview NIM Corp., Series 2006-BU1,                                          
   Class N1                                                                     
   5.926% due 02/20/2046                              1,569,831        1,570,295
Hilton Hotels Pool Trust, Series 2000-HLTA,                                     
   Class B                                                                      
   5.83% due 10/03/2015 (b)                             335,000          338,541
IndyMac Index Mortgage Loan Trust,                                              
   Series 2004-AR13, Class B1                                                   
   5.296% due 01/25/2035                              1,505,076        1,504,118
IndyMac Index Mortgage Loan Trust,                                              
   Series 2005-AR5, Class B1                                                    
   5.3916% due 05/25/2035 (b)                         1,791,914        1,816,191
IndyMac Index Mortgage Loan Trust,                                              
   Series 2006-AR19, Class 1B1                                                  
   6.4482% due 08/25/2036 (b)                         1,661,620        1,696,930
JP Morgan Chase Commercial Mortgage                                             
   Securities Corp, Series 2006-CB16,                                           
   Class D 5.771% due 05/12/2045 (b)                  4,200,000        4,258,028
JP Morgan Chase Commercial Mortgage                                             
   Securities Corp, Series 2006-LDP8,                                           
   Class A3B 5.447% due 05/15/2045 (b)                4,530,000        4,552,429
JP Morgan Chase Commercial Mortgage                                             
   Securities Corp, Series 2006-LDP8,                                           
   Class X 0.5783% IO due 05/15/2045 (b)             90,000,000        3,965,769
JP Morgan Chase Commercial Mortgage                                             
   Securities Corp., Series 2006-LDP7,                                          
   Class A4 5.8755% due 04/15/2045 (b)                2,675,000        2,794,172

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
   OBLIGATIONS (CONTINUED)                                                      
JPMorgan Chase Commercial Mortgage                                              
   Securities Corp., Series 2002-C1,                                            
   Class A3 5.376% due 07/12/2037                $    2,568,266   $    2,587,557
JPMorgan Chase Commercial Mortgage                                              
   Securities Corp., Series 2004-CBX,                                           
   Class A2 3.89% due 01/12/2037                        735,191          717,716
JPMorgan Chase Commercial Mortgage                                              
   Securities Corp., Series 2005-LDP3,                                          
   Class A4B 4.996% due 08/15/2042 (b)                3,130,000        3,044,877
JPMorgan Chase Commercial Mortgage                                              
   Securities Corp., Series 2005-LDP4,                                          
   Class B 5.129% due 10/15/2042 (b)                  1,335,000        1,305,437
JPMorgan Chase Commercial Mortgage                                              
   Securities Corp., Series 2006-LDP6,                                          
   Class X1 0.04% IO due 04/15/2043 (b)             384,837,183        2,071,425
JPMorgan Mortgage Trust, Series 2005-S2,                                        
   Class 2A16                                                                   
   6.50% due 09/25/2035                               2,261,264        2,307,605
JPMorgan Mortgage Trust, Series 2005-S3,                                        
   Class 2A2                                                                    
   5.50% due 01/25/2021                               3,185,217        3,163,319
LB-UBS Commercial Mortgage Trust, Series                                        
   2006-C6, Class AJ                                                            
   5.452% due 09/15/2039 (b)                          4,530,000        4,552,342
LB-UBS Commercial Mortgage Trust, Series                                        
   2006-C6, Class XCL                                                           
   0.0702% IO due 09/15/2039 (b)                    207,940,000        3,999,996
LB-UBS Commercial Mortgage Trust,                                               
   Series 2002-C1,Class A4                                                      
   6.462% due 03/15/2031                              1,470,381        1,554,544
LB-UBS Commercial Mortgage Trust,                                               
   Series 2005-C1, Class XCL                                                    
   0.1428% IO due 02/15/2040 (b)                     47,892,823        1,028,173
LB-UBS Commercial Mortgage Trust,                                               
   Series 2005-C3, Class AJ                                                     
   4.843% due 07/15/2040                              2,029,126        1,951,746
LB-UBS Commercial Mortgage Trust,                                               
   Series 2005-C3, Class G                                                      
   5.111% due 07/15/2040 (b)                          1,264,528        1,223,374
LB-UBS Commercial Mortgage Trust,                                               
   Series 2005-C5, Class A2                                                     
   4.885% due 09/15/2040                              2,881,947        2,860,198
LB-UBS Commercial Mortgage Trust,                                               
   Series 2006-C4, Class A4                                                     
   5.8995% due 06/15/2038 (b)                         3,165,000        3,294,543
Mastr Adjustable Rate Mortgages Trust,                                          
   Series 2004-13, Class 2A1                                                    
   3.8168% due 04/21/2034 (b)                         3,785,691        3,695,276
Mastr Adjustable Rate Mortgages Trust,                                          
   Series 2004-8, Class 5A1                                                     
   4.6548% due 08/25/2034 (b)                         5,336,527        5,276,058
Mastr Adjustable Rate Mortgages Trust,                                          
   Series 2005-2, Class 2A1                                                     
   5.1143% due 03/25/2035 (b)                        11,558,665       11,527,149
Mastr Adjustable Rate Mortgages Trust,                                          
   Series 2006-2, Class 4A1                                                     
   4.9897% due 02/25/2036 (b)                        11,966,462       11,833,929

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
   OBLIGATIONS (CONTINUED)                                                      
Merrill Lynch Mortgage Trust,                                                   
   Series 2006-C2, Class X                                                      
   5.87% IO due 08/12/2026                       $   87,961,224   $    2,758,508
Merrill Lynch Mortgage Trust,                                                   
   Series 2004-BPB1, Class XC                                                   
   0.058% IO due 09/12/2041                          28,400,000          566,066
Merrill Lynch Mortgage Trust,                                                   
   Series 2004-KEY2, Class A4                                                   
   4.864% due 08/12/2039 (b)                          1,588,012        1,537,912
Merrill Lynch Mortgage Trust,                                                   
   Series 2005-CIP1, Class XC                                                   
   0.041% IO due 07/12/2038                         280,261,921        1,831,484
Merrill Lynch Mortgage Trust,                                                   
   Series 2005-CIP1, Class XP                                                   
   0.3025% IO due 07/12/2038 (b)                    257,739,014        2,280,037
Merrill Lynch Mortgage Trust,                                                   
   Series 2005-CKI1, Class A6                                                   
   5.2443% due 11/12/2037 (b)                         2,855,000        2,847,486
Merrill Lynch/Countrywide Commercial                                            
   Mortgage Trust, Series 2006-3, Class A4                                      
   5.414% due 07/12/2046 (b)                          3,420,000        3,438,693
Merrill Lynch/Countrywide Commercial                                            
   Mortgage Trust, Series 2006-2, Class A4                                      
   6.105% due 06/12/2046 (b)                          4,480,000        4,684,923
MLCC Mortgage Investors, Inc.,                                                  
   Series 2005-A, Class A1                                                      
   5.56% due 03/25/2030 (b)                             435,518          435,474
Morgan Stanley Capital I, Series 2004-T13,                                      
   Class A2                                                                     
   3.94% due 09/13/2045                               1,347,850        1,300,498
Morgan Stanley Capital I, Series 2005-HQ6,                                      
   Class B                                                                      
   5.152% due 08/13/2042 (b)                          2,500,000        2,450,602
Morgan Stanley Capital I, Series 2005-HQ7,                                      
   Class A2                                                                     
   5.2049% due 11/14/2042 (b)                         2,185,000        2,182,854
Morgan Stanley Capital I, Series 2005-HQ7,                                      
   Class A4                                                                     
   5.2049% due 11/14/2042 (b)                         2,795,000        2,781,221
Morgan Stanley Capital I, Series 2005-IQ10,                                     
   Class A4A                                                                    
   5.23% due 09/15/2042 (b)                           4,160,000        4,122,862
Morgan Stanley Capital I, Series 2005-IQ9,                                      
   Class X1                                                                     
   0.123% IO due 07/15/2056 (b)                      37,757,306        1,102,332
Morgan Stanley Capital I, Series 2005-T17,                                      
   Class X1                                                                     
   0.0902% IO due 12/13/2041 (b)                     76,491,919        1,165,423
Morgan Stanley Capital I, Series 2006-HQ8,                                      
   Class X                                                                      
   0.0847% IO due 03/12/2044 (b)                    534,000,000        2,744,440
Morgan Stanley Capital I, Series 2006-HQ9,                                      
   Class X                                                                      
   0.395% IO due 07/12/2044 (b)                     280,057,143        5,217,437
Morgan Stanley Capital I, Series 2006-T21,                                      
   Class X                                                                      
   0.152% IO due 10/12/2052 (b)                     188,548,846        2,691,912
Morgan Stanley Dean Witter Capital I,                                           
   Series 2003-HYB1, Class A2                                                   
   4.30% due 03/25/2033 (b)                           9,559,419        9,455,164
Morgan Stanley Capital I, Series 2006-T23,                                      
   Class A4                                                                     
   5.983% due 08/12/2041                              2,570,000        2,673,699

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
   OBLIGATIONS (CONTINUED)                                                      
Multi Security Asset Trust,                                                     
   Series 2005-RR4A, Class F                                                    
   5.88% due 11/28/2035 (b)                      $      580,000   $      567,623
Nomura Asset Acceptance Corp.,                                                  
   Series 2006-AF1, Class CB1                                                   
   6.5347% due 06/25/2036 (b)                         1,709,535        1,753,682
Nomura Asset Acceptance Corp.,                                                  
   Series 2006-AF2, Class 4A                                                    
   6.7355% due 08/25/2036 (b)                         3,852,754        3,935,829
Provident Funding Mortgage Loan Trust,                                          
   Series 2005-1, Class B1                                                      
   4.3619% due 05/25/2035 (b)                         1,780,213        1,738,330
Rali NIM Corp., Series 2006-QO4, Class N1                                       
   6.048% due 05/25/2046                              2,500,875        2,500,875
Residential Accredit Loans, Inc.,                                               
   Series 2005-QA12, Class NB5                                                  
   5.9962% due 12/25/2035 (b)                         2,563,010        2,600,426
Residential Asset Securitization Trust,                                         
   Series 2006-A7CB, Class 2A1                                                  
   6.50% due 07/25/2036                               4,335,505        4,381,198
Salomon Brothers Mortgage Securities VII,                                       
   Series 2000-C3, Class A2                                                     
   6.592% due 12/18/2033                                597,955          624,733
Salomon Brothers Mortgage Securities VII,                                       
   Series 2001-C1, Class A2                                                     
   6.226% due 12/18/2035                                379,209          381,319
Salomon Brothers Mortgage Securities VII,                                       
   Series 2001-C1, Class A3                                                     
   6.428% due 12/18/2035                              1,225,318        1,277,781
SBA CMBS Trust, Series 2005-1A, Class A                                         
   5.369% due 11/15/2035                                800,000          802,131
SBA CMBS Trust, Series 2005-1A, Class B                                         
   5.565% due 11/15/2035                              1,090,000        1,096,118
SBA CMBS Trust, Series 2005-1A, Class C                                         
   5.731% due 11/15/2035                              3,998,000        4,026,214
SBA CMBS Trust, Series 2005-1A, Class D                                         
   6.219% due 11/15/2035                                615,000          623,106
SBA CMBS Trust, Series 2005-1A, Class E                                         
   6.706% due 11/15/2035                              2,545,000        2,601,302
Sequoia Mortgage Trust, Series 2005-3,                                          
   Class A1                                                                     
   5.53% due 05/20/2035 (b)                             601,315          601,816
Structured Adjustable Rate Mortgage Loan                                        
   Trust, Series 2005-18, Class 6A1                                             
   5.3028% due 09/25/2035 (b)                         3,286,477        3,280,435
Structured Asset Securities Corp.,                                              
   Series 1998-RF2, Class A                                                     
   8.5292% due 07/15/2027 (b)                           473,804          476,671
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2006-C27, Class XC                                                    
   0.061% IO due 07/15/2045 (b)                     287,170,950        2,813,500
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2004-C10, Class A3                                                    
   4.39% due 02/15/2041                               1,960,508        1,889,576
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2005-C17, Class XC                                                    
   0.0731% IO due 03/15/2042 (b)                     49,563,390          455,656

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
   OBLIGATIONS (CONTINUED)                                                      
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2005-C19, Class A5                                                    
   4.661% due 05/15/2044                         $    3,313,258   $    3,208,923
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2005-C19, Class AJ                                                    
   4.793% due 05/15/2044                              1,862,483        1,780,135
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2005-WL5A, Class A2                                                   
   5.53% due 01/15/2018 (b)                             386,716          386,732
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2006-C24, Class XC                                                    
   0.0390% IO due 03/15/2045 (b)                    742,684,661        4,108,234
Washington Mutual Alternative Mortgage                                          
   Pass-Through Certificates, Series 2006-7,                                    
   Class A3                                                                     
   6.081% due 09/25/2036                              3,810,000        3,818,586
Washington Mutual Alternative Mortgage                                          
   Pass-Through Certificates, Series 2005-6,                                    
   Class 1CB                                                                    
   6.50% due 08/25/2035                               1,944,837        1,963,678
Washington Mutual, Inc., Series 2005-1,                                         
   Class 6A1                                                                    
   6.50% due 03/25/2035                               1,027,256        1,035,634
Washington Mutual, Inc., Series 2005-AR12,                                      
   Class 1A8                                                                    
   4.8384% due 10/25/2035 (b)                         6,663,774        6,583,906
Wells Fargo Mortgage Backed Securities                                          
   Trust, Series 2004-7, Class 2A2                                              
   5.00% due 07/25/2019                               2,291,178        2,242,491
Wells Fargo Mortgage Backed Securities                                          
   Trust, Series 2005-AR16, Class 2A1                                           
   4.9457% due 10/25/2035 (b)                        18,017,442       17,943,086
                                                                  --------------
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                       
   (Cost $567,043,344)                                            $  557,799,201
                                                                  --------------
ASSET BACKED SECURITIES - 4.62%                                                 
Airplanes Pass Through Trust,                                                   
   Series 2001-1A, Class A9                                                     
   5.88% due 03/15/2019 (b)                           7,000,000        4,558,750
Amresco Residential Securities Mortgage Loan                                    
   Trust, Series 1998-1, Class A6                                               
   6.51% due 08/25/2027                                 128,066          128,425
Argent Securities, Inc., Series 2004-W1,                                        
   Class M3                                                                     
   6.78% due 03/25/2034 (b)                           1,568,407        1,584,678
Asset Backed Securities Corp. Home Equity,                                      
   Series 2006-HE2, Class A3                                                    
   5.52% due 03/25/2036 (b)                           5,000,000        5,008,724
Capital Trust Re CDO Ltd, Series 2005-1A,                                       
   Class C                                                                      
   6.08% due 03/20/2050 (b)                           1,250,000        1,250,750
Capital Trust Re CDO Ltd, Series 2005-1A,                                       
   Class E                                                                      
   7.43% due 03/20/2050 (b)                             834,000          834,834
Capital Trust Re CDO Ltd, Series 2005-3A,                                       
   Class A1                                                                     
   5.094% due 06/25/2035                              3,490,000        3,430,561
Capital Trust Re CDO, Ltd., Series 2005-1A,                                     
   Class B                                                                      
   5.80% due 03/20/2050 (b)                           1,600,000        1,601,722
Centex Home Equity, Series 2004-D, Class AF4                                    
   4.68% due 06/25/2032                                 780,000          760,502

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
ASSET BACKED SECURITIES (CONTINUED)                                             
Centex Home Equity, Series 2005-A, Class M4                                     
   6.13% due 01/25/2035 (b)                      $      875,000   $      883,027
Contimortgage Home Equity Loan Trust,                                           
   Series 1995-2, Class A5                                                      
   8.10% due 08/15/2025                                  43,462           44,758
Countrywide Asset-Backed Certificates,                                          
   Series 2004-10, Class AF3                                                    
   3.842% due 10/25/2030 (b)                            748,187          742,900
Countrywide Asset-Backed Certificates,                                          
   Series 2004-12, Class 2AV2                                                   
   5.61% due 09/25/2033 (b)                             368,759          368,933
Credit-Based Asset Servicing and                                                
   Securitization, Series 2006-MH1, Class B1                                    
   6.25% due 09/25/2036                               2,560,000        2,273,434
Credit-Based Asset Servicing and                                                
   Securitization, Series 2005-CB8,                                             
   Class AF2                                                                    
   5.303% due 12/25/2035                              4,000,000        3,984,304
Credit-Based Asset Servicing and                                                
   Securitization, Series 2006-CB2,                                             
   Class AF2                                                                    
   5.501% due 12/25/2036                              5,000,000        4,989,845
CW Capital Cobalt I, Series 2005-1A,                                            
   Class A1                                                                     
   5.68% due 05/25/2045 (b)                             866,408          866,408
DB Master Finance LLC, Series 2006-1,                                           
   Class-A2                                                                     
   5.779% due 06/20/2031                              9,405,000        9,553,345
DB Master Finance LLC, Series 2006-1,                                           
   Class-M1                                                                     
   8.285% due 06/20/2031                                680,000          694,886
Drivetime Auto Owner Trust,                                                     
   Series 2004-A, Class A3                                                      
   2.419% due 08/15/2008                                555,398          550,018
Embarcadero Aircraft Securitization Trust,                                      
   Series 2000-A, Class A1                                                      
   5.81% due 08/15/2025 (b)                           4,500,000        3,543,750
Equity One ABS, Inc., Series 2004-1,                                            
   Class M2                                                                     
   5.115% due 04/25/2034                                750,000          734,450
Equity One ABS, Inc., Series 2004-1,                                            
   Class M3                                                                     
   5.26% due 04/25/2034                                 750,000          733,760
Equity One ABS, Inc., Series 2004-2,                                            
   Class AV2                                                                    
   5.58% due 07/25/2034 (b)                              77,169           77,291
First Franklin Mortgage Loan Asset Backed                                       
   Certificates, Series 2004-FF3, Class A2C                                     
   5.81% due 05/25/2034 (b)                              28,718           28,726
GSAA Home Equity Trust, Series 2006-10,                                         
   Class AF3                                                                    
   5.9846% due 06/25/2036 (b)                         7,000,000        7,077,658
Home Equity Asset Trust, Series 2006-3N,                                        
   Class A                                                                      
   5.50% due 08/27/2036                               3,406,248        3,382,945
Home Equity Mortgage Trust,                                                     
   Series 2005-3, Class A1                                                      
   5.57% due 11/25/2035 (b)                           1,466,010        1,466,711
IndyMac Home Equity Loan Asset-Backed Trust,                                    
   Series 2004-B, Class A2B                                                     
   5.69% due 11/25/2034 (b)                             222,025          222,229
JER CDO, Series 2006-2A, Class AFL                                              
   5.655% due 03/25/2045                              3,700,000        3,700,000
JER CDO, Series 2006-2A, Class FFL                                              
   6.825% due 03/25/2045 (b)                          2,000,000        2,000,000

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
ASSET BACKED SECURITIES (CONTINUED)                                             
LNR CDO Ltd, Series 2006-1A, Class BFL                                          
   5.8738% due 05/28/2043 (b)                    $    3,300,000   $    3,300,000
Long Beach Mortgage Loan Trust,                                                 
   Series 2004-1, Class M3                                                      
   6.03% due 02/25/2034 (b)                           1,200,000        1,203,027
Morgan Stanley ABS Capital I,                                                   
   Series 2004-OP1, Class A2B                                                   
   5.62% due 11/25/2034 (b)                             280,762          280,841
New Century Home Equity Loan Trust,                                             
   Series 2004-A, Class AII5                                                    
   5.25% due 08/25/2034 (b)                             990,000          984,813
Newcastle CDO, Ltd., Series 2005-7A,                                            
   Class 2FL                                                                    
   4.72% due 12/25/2050                               2,690,000        2,691,076
N-Star Real Estate CDO Ltd., Series 2006-7A,                                    
   Class C                                                                      
   5.681% due 06/22/2051                              3,000,000        3,000,000
Option One Mortgage Loan Trust,                                                 
   Series 2004-1, Class M1                                                      
   5.93% due 01/25/2034 (b)                             800,000          802,919
Ownit Mortgage Loan, Series 2006-1,                                             
   Class AF2                                                                    
   5.29% due 12/25/2036                               5,160,000        5,135,005
Ownit Mortgage Loan, Series 2006-2,                                             
   Class A2B                                                                    
   5.6329% due 01/25/2037 (b)                         4,000,000        4,008,752
Popular ABS Mortgage Pass-Through Trust,                                        
   Series 2005-4, Class AF3                                                     
   4.982% due 09/25/2035 (b)                          3,234,838        3,203,201
Popular ABS Mortgage Pass-Through Trust,                                        
   Series 2005-6, Class A2                                                      
   5.35% due 01/25/2036 (b)                           3,700,000        3,690,295
Renaissance Home Equity Loan Trust,                                             
   Series 2005-2, Class AF3                                                     
   4.499% due 08/25/2035                              1,835,000        1,807,038
Renaissance Home Equity Loan Trust,                                             
   Series 2005-2, Class AF4                                                     
   4.934% due 08/25/2035                              1,740,000        1,707,987
Renaissance Home Equity Loan Trust,                                             
   Series 2005-4, Class A2                                                      
   5.399% due 02/25/2036                              3,000,000        2,985,183
Residential Accredit Loans, Inc.,                                               
   Series 2004-QS16, Class 1A1                                                  
   5.50% due 12/25/2034                               1,299,045        1,291,571
Residential Asset Mortgage Products, Inc.,                                      
   Series 2004-RS9, Class AI4                                                   
   4.767% due 10/25/2032 (b)                          1,125,000        1,112,235
Residential Asset Mortgage Products, Inc.,                                      
   Series 2004-RZ3, Class AI4                                                   
   4.572% due 05/25/2033 (b)                            650,000          636,586
Sail Net Interest Margin Notes,                                                 
   Series 2005-6A, Class A                                                      
   4.75% due 07/27/2035                                 657,500          655,765
Specialty Underwriting & Residential                                            
   Finance, Series 2003-BC4, Class A3B                                          
   4.788% due 11/25/2034                                854,801          846,845
Specialty Underwriting & Residential                                            
   Finance, Series 2004-BC4, Class A2B                                          
   5.64% due 10/25/2035 (b)                             852,964          853,947

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
ASSET BACKED SECURITIES (CONTINUED)                                             
Structured Asset Investment Loan Trust,                                         
   Series 2004-8, Class A7                                                      
   5.63% due 09/25/2034 (b)                      $       89,138   $       89,151
Structured Asset Securities Corp.,                                              
   Series 2004-16XS, Class A2                                                   
   4.91% due 08/25/2034                                 346,001          344,156
Structured Asset Securities Corp.,                                              
   Series 2004-19XS, Class A2                                                   
   4.37% due 10/25/2034                               1,100,000        1,088,781
Structured Asset Securities Corp.,                                              
   Series 2004-6XS, Class M1                                                    
   4.92% due 03/25/2034                               1,100,000        1,072,589
Vanderbilt Acquisition Loan Trust,                                              
   Series 2002-1, Class A3                                                      
   5.70% due 09/07/2023                                 539,999          540,808
Wells Fargo Home Equity Trust,                                                  
   Series 2004-2, Class AI5                                                     
   4.89% due 11/25/2028 (b)                           2,451,000        2,402,816
                                                                  --------------
TOTAL ASSET BACKED SECURITIES                                                   
(Cost $113,231,555)                                               $  112,813,711
                                                                  --------------
SUPRANATIONAL OBLIGATIONS - 0.10%                                               

HONDURAS - 0.03%                                                                
Central American Bank for Economic                                              
   Integration                                                                  
   6.75% due 04/15/2013                                 638,000          667,620

VENEZUELA - 0.07%                                                               
Corporacion Andina de Fomento                                                   
   5.20% due 05/21/2013                                 736,000          720,903
Corporacion Andina de Fomento, Series EXCH                                      
   6.875% due 03/15/2012                              1,005,000        1,070,751
                                                                  --------------
                                                                       1,791,654
                                                                  --------------
TOTAL SUPRANATIONAL OBLIGATIONS                                                 
(Cost $2,502,832)                                                 $    2,459,274
                                                                  --------------
SHORT TERM INVESTMENTS - 25.09%                                                 
Federal Home Loan Bank Discount Notes                                           
   zero coupon due 10/02/2006                    $   31,800,000   $   31,796,113
   zero coupon due 10/11/2006                       221,000,000      220,683,847
Federal National Mortgage Association                                           
   Discount Notes                                                               
   zero coupon due 10/17/2006                       105,000,000      104,762,000
State Street Navigator Securities Lending                                       
   Prime Portfolio (c)                              254,873,365      254,873,365
                                                                  --------------
TOTAL SHORT TERM INVESTMENTS                                                    
(Cost $612,115,325)                                               $  612,115,325
                                                                  --------------

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ACTIVE BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                           SHARES OR                    
                                       PRINCIPAL AMOUNT       VALUE     
                                       ----------------  -------------- 
                                                                        
REPURCHASE AGREEMENTS - 2.38%                                           
Repurchase Agreement with State                                         
   Street Corp. dated 09/29/2006 at                                     
   3.95% to be repurchased at                                           
   $57,953,070 on 10/02/2006,                                           
   collateralized by $65,000 Federal                                    
   National Mortgage Association,                                       
   6.00% due 07/25/2025 (valued at                                      
   $63,700 including interest) and                                      
   $5,880,000 Federal Farm Credit                                       
   Bank, 4.875% due 12/16/2015                                          
   (valued at $5,916,750, including                                     
   interest) and $50,000,000 Federal                                    
   Home Loan Bank, 3.69% due                                            
   07/08/2009 (valued at                                                
   $48,750,000, including interest)                                     
   and $4,440,000 Federal Home                                          
   Loan Bank, 4.00% due 02/06/2009                                      
   (valued at $4,367,850, including                                     
   interest) (c)                         $   57,934,000  $  57,934,000  
                                                         -------------- 
TOTAL REPURCHASE AGREEMENTS                                             
(Cost $57,934,000)                                       $   57,934,000 
                                                         -------------- 
TOTAL INVESTMENTS (ACTIVE BOND TRUST)                                   
   (COST $3,043,110,776) - 124.49%                       $3,037,370,971 
LIABILITIES IN EXCESS OF OTHER                                          
   ASSETS - (24.49)%                                       (597,608,250)
                                                         -------------- 
TOTAL NET ASSETS - 100.00%                               $2,439,762,721 
                                                         ============== 

ALL CAP CORE TRUST                                                              

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 89.22%                                                          

ADVERTISING - 1.17%                                                             
Omnicom Group, Inc.                                      69,800   $    6,533,280

AEROSPACE - 3.88%                                                               
Boeing Company                                          108,600        8,563,110
Lockheed Martin Corp.                                    96,500        8,304,790
Raytheon Company                                        101,000        4,849,010
                                                                  --------------
                                                                      21,716,910
AIR TRAVEL - 0.62%                                                              
Continental Airlines, Inc., Class B * (a)               103,500        2,930,085
Southwest Airlines Company                               33,300          554,778
                                                                  --------------
                                                                       3,484,863
AMUSEMENT & THEME PARKS - 0.06%                                                 
Walt Disney Company                                      10,600          327,646

APPAREL & TEXTILES - 0.87%                                                      
Jones Apparel Group, Inc.                               149,600        4,853,024

AUTO PARTS - 0.53%                                                              
American Axle & Manufacturing Holdings,                                         
   Inc. (a)                                              58,100          969,689
TRW Automotive Holdings Corp. *                          81,900        1,971,333
                                                                  --------------
                                                                       2,941,022
AUTOMOBILES - 0.98%                                                             
Monaco Coach Corp. (a)                                   10,500          116,970

ALL CAP CORE TRUST (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

AUTOMOBILES (CONTINUED)                                                         
PACCAR, Inc.                                             87,000   $    4,960,740
Tenneco, Inc. * (a)                                      17,200          402,308
                                                                  --------------
                                                                       5,480,018
BANKING - 5.47%                                                                 
Bank of America Corp.                                   306,300       16,408,491
Flagstar Bancorp, Inc. (a)                               12,600          183,330
KeyCorp                                                  33,500        1,254,240
US Bancorp                                              121,500        4,036,230
Wells Fargo Company (c)                                 241,400        8,733,852
                                                                  --------------
                                                                      30,616,143
BIOTECHNOLOGY - 0.13%                                                           
Abraxis BioScience, Inc. * (a)                           25,700          713,946

BROADCASTING - 0.30%                                                            
Clear Channel Communications, Inc.                       57,900        1,670,415
Liberty Global, Inc., Series C *                            700           17,542
                                                                  --------------
                                                                       1,687,957
BUSINESS SERVICES - 1.73%                                                       
Acxiom Corp.                                             79,700        1,965,402
Coinstar, Inc. * (a)                                      8,100          233,118
Computer Sciences Corp. *                                96,000        4,715,520
FactSet Research Systems, Inc.                           18,100          879,117
Robert Half International, Inc.                          55,000        1,868,350
                                                                  --------------
                                                                       9,661,507
CABLE AND TELEVISION - 1.38%                                                    
DIRECTV Group, Inc. *                                   391,000        7,694,880

CELLULAR COMMUNICATIONS - 0.12%                                                 
Telephone & Data Systems, Inc.                           16,400          690,440

CHEMICALS - 0.78%                                                               
Airgas, Inc.                                             26,200          947,654
Lyondell Chemical Company                               127,700        3,239,749
Terra Industries, Inc. * (a)                             26,000          200,460
                                                                  --------------
                                                                       4,387,863
COMPUTERS & BUSINESS EQUIPMENT - 1.69%                                          
Cisco Systems, Inc. *                                    14,100          324,300
Hewlett-Packard Company                                 229,800        8,431,362
MTS Systems Corp.                                         9,600          310,464
Western Digital Corp. *                                  21,400          387,340
                                                                  --------------
                                                                       9,453,466
COSMETICS & TOILETRIES - 1.37%                                                  
Colgate-Palmolive Company                               104,300        6,477,030
Procter & Gamble Company                                 18,800        1,165,224
                                                                  --------------
                                                                       7,642,254
CRUDE PETROLEUM & NATURAL GAS - 2.00%                                           
Patterson-UTI Energy, Inc.                              164,200        3,901,392
Unit Corp. *                                             52,800        2,427,216
XTO Energy, Inc.                                        116,100        4,891,293
                                                                  --------------
                                                                      11,219,901
DOMESTIC OIL - 0.15%                                                            
Houston Exploration Company *                             2,400          132,360

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ALL CAP CORE TRUST (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

DOMESTIC OIL (CONTINUED)                                                        
Range Resources Corp.                                    28,300   $      714,292
                                                                  --------------
                                                                         846,652
DRUGS & HEALTH CARE - 0.10%                                                     
Perrigo Company                                          20,800          352,976
Res-Care, Inc. * (a)                                     10,800          216,972
                                                                  --------------
                                                                         569,948
ELECTRICAL UTILITIES - 2.04%                                                    
Exelon Corp.                                             66,300        4,013,802
FirstEnergy Corp.                                       133,000        7,429,380
                                                                  --------------
                                                                      11,443,182
ENERGY - 0.78%                                                                  
TXU Corp.                                                69,400        4,338,888

FINANCIAL SERVICES - 7.01%                                                      
Citigroup, Inc.                                         326,900       16,237,123
City Holding Company (a)                                  1,900           75,753
Goldman Sachs Group, Inc.                                54,500        9,219,765
JPMorgan Chase & Company                                282,000       13,242,720
Morgan Stanley                                            6,400          466,624
                                                                  --------------
                                                                      39,241,985
FOOD & BEVERAGES - 4.60%                                                        
General Mills, Inc.                                      98,500        5,575,100
H.J. Heinz Company                                       25,500        1,069,215
Pepsi Bottling Group, Inc.                              202,900        7,202,950
PepsiCo, Inc.                                           165,400       10,794,004
Smithfield Foods, Inc. *                                 41,300        1,115,926
                                                                  --------------
                                                                      25,757,195
FURNITURE & FIXTURES - 0.35%                                                    
Leggett & Platt, Inc.                                    78,500        1,964,855

HEALTHCARE SERVICES - 4.39%                                                     
Amedisys, Inc. * (a)                                      9,000          357,030
Coventry Health Care, Inc. *                            103,100        5,311,712
Humana, Inc. *                                           78,300        5,174,847
McKesson Corp.                                          117,600        6,199,872
Sierra Health Services, Inc. * (a)                       75,100        2,841,784
Wellpoint, Inc. *                                        60,800        4,684,640
                                                                  --------------
                                                                      24,569,885
HOLDINGS COMPANIES/CONGLOMERATES - 1.51%                                        
General Electric Company                                171,400        6,050,420
Loews Corp.                                              63,500        2,406,650
                                                                  --------------
                                                                       8,457,070
HOTELS & RESTAURANTS - 1.49%                                                    
Applebee's International, Inc. (a)                       19,400          417,294
Brinker International, Inc.                              73,100        2,930,579
CEC Entertainment, Inc. *                                10,200          321,402
Darden Restaurants, Inc.                                 95,800        4,068,626
Yum! Brands, Inc.                                        11,500          598,575
                                                                  --------------
                                                                       8,336,476
HOUSEHOLD APPLIANCES - 0.08%                                                    
The Toro Company                                         10,900          459,653

ALL CAP CORE TRUST (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

INDUSTRIAL MACHINERY - 1.40%                                                    
Caterpillar, Inc.                                       106,800   $    7,027,440
Cummins, Inc.                                             6,700          798,841
                                                                  --------------
                                                                       7,826,281
INSURANCE - 2.55%                                                               
AFLAC, Inc.                                              20,100          919,776
American Financial Group, Inc.                           33,700        1,581,541
CNA Financial Corp. *                                    68,300        2,460,166
HCC Insurance Holdings, Inc.                             16,100          529,368
Philadelphia Consolidated Holding Corp. *               113,200        4,503,096
W.R. Berkley Corp.                                      121,588        4,302,982
                                                                  --------------
                                                                      14,296,929
INTERNATIONAL OIL - 3.54%                                                       
Anadarko Petroleum Corp.                                139,300        6,105,519
ConocoPhillips                                          146,300        8,709,239
Hess Corp. (a)                                          121,000        5,011,820
                                                                  --------------
                                                                      19,826,578
INTERNET RETAIL - 0.37%                                                         
eBay, Inc. *                                             73,300        2,078,788

INTERNET SERVICE PROVIDER - 0.85%                                               
Google, Inc., Class A *                                   7,300        2,933,870
Yahoo!, Inc. *                                           72,000        1,820,160
                                                                  --------------
                                                                       4,754,030
METAL & METAL PRODUCTS - 1.51%                                                  
Phelps Dodge Corp.                                       57,200        4,844,840
Reliance Steel & Aluminum Company                       112,300        3,609,322
                                                                  --------------
                                                                       8,454,162
OFFICE FURNISHINGS & SUPPLIES - 0.96%                                           
Office Depot, Inc. *                                    135,800        5,391,260

PETROLEUM SERVICES - 2.68%                                                      
Exxon Mobil Corp.                                       128,800        8,642,480
Valero Energy Corp.                                      84,500        4,349,215
Veritas DGC, Inc. *                                      30,200        1,987,764
                                                                  --------------
                                                                      14,979,459
PHARMACEUTICALS - 7.79%                                                         
Abbott Laboratories                                     189,400        9,197,264
AmerisourceBergen Corp.                                 109,800        4,962,960
Endo Pharmaceutical Holdings, Inc. *                    117,500        3,824,625
Hospira, Inc. *                                         112,800        4,316,856
Merck & Company, Inc.                                    89,700        3,758,430
Mylan Laboratories, Inc.                                218,900        4,406,457
Pfizer, Inc.                                            462,400       13,113,664
                                                                  --------------
                                                                      43,580,256
PUBLISHING - 1.03%                                                              
John Wiley & Sons, Inc., Class A                          8,100          291,681
McGraw-Hill Companies, Inc.                              94,200        5,466,426
                                                                  --------------
                                                                       5,758,107
REAL ESTATE - 1.87%                                                             
Apartment Investment & Management                                               
   Company, Class A, REIT                                 9,200          500,572

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ALL CAP CORE TRUST (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

REAL ESTATE (CONTINUED)                                                         
Equity Office Properties Trust, REIT                     32,700   $    1,300,152
Equity Residential, REIT                                 29,700        1,502,226
Health Care REIT, Inc.                                   11,300          452,113
Healthcare Realty Trust, Inc., REIT (a)                   8,100          311,121
Hospitality Properties Trust, REIT                       14,000          660,800
Liberty Property Trust, REIT (a)                         13,600          649,944
ProLogis, REIT                                           22,800        1,300,968
Regency Centers Corp., REIT                              15,800        1,086,408
Simon Property Group, Inc., REIT                         18,300        1,658,346
Thornburg Mortgage, Inc., REIT (a)                       15,300          389,691
Vornado Realty Trust, REIT                                5,800          632,200
                                                                  --------------
                                                                      10,444,541
RETAIL GROCERY - 1.24%                                                          
The Kroger Company                                      299,200        6,923,488

RETAIL TRADE - 3.01%                                                            
Dollar Tree Stores, Inc. *                               86,400        2,674,944
J.C. Penney Company, Inc.                                80,000        5,471,200
Kohl's Corp. *                                           93,700        6,083,004
Lowe's Companies, Inc.                                   72,000        2,020,320
Payless ShoeSource, Inc. * (a)                           23,100          575,190
                                                                  --------------
                                                                      16,824,658
SANITARY SERVICES - 1.09%                                                       
Waste Management, Inc.                                  167,000        6,125,560

SEMICONDUCTORS - 5.14%                                                          
Advanced Micro Devices, Inc. *                          138,100        3,431,785
Atmel Corp. *                                           485,500        2,932,420
Freescale Semiconductor, Inc., Class B *                126,800        4,819,668
Lam Research Corp. *                                     86,300        3,911,979
Micron Technology, Inc. *                               248,800        4,329,120
National Semiconductor Corp.                            173,900        4,091,867
Texas Instruments, Inc.                                 158,200        5,260,150
                                                                  --------------
                                                                      28,776,989
SOFTWARE - 1.24%                                                                
BMC Software, Inc. *                                    194,100        5,283,402
Microsoft Corp.                                          60,700        1,658,931
                                                                  --------------
                                                                       6,942,333
STEEL - 1.44%                                                                   
Nucor Corp.                                              95,500        4,726,295
Steel Dynamics, Inc. (a)                                 65,600        3,309,520
                                                                  --------------
                                                                       8,035,815
TELECOMMUNICATIONS EQUIPMENT &                                                  
SERVICES - 0.10%                                                                
Citizens Communications Company                          40,900          574,236

TELEPHONE - 3.93%                                                               
AT&T, Inc.                                              334,900       10,904,344
U.S. Cellular Corp. * (a)                                12,600          752,220
Verizon Communications, Inc.                            277,700       10,311,001
                                                                  --------------
                                                                      21,967,565

ALL CAP CORE TRUST (CONTINUED)                                                  

                                                                [Download Table]

                                             SHARES OR                    
                                         PRINCIPAL AMOUNT       VALUE     
                                         ----------------  -------------- 
                                                                          
COMMON STOCKS (CONTINUED)                                                 

TOBACCO - 0.29%                                                           
Altria Group, Inc.                                 20,900  $    1,599,895 

TRANSPORTATION - 0.89%                                                    
Overseas Shipholding Group, Inc.                   80,200       4,953,954 

TRUCKING & FREIGHT - 0.72%                                                
Ryder Systems, Inc.                                78,100       4,036,208 
                                                           -------------- 
TOTAL COMMON STOCKS (Cost $470,296,167)                    $  499,242,001 
                                                           -------------- 
WARRANTS - 0.00%                                                          
TELECOMMUNICATIONS EQUIPMENT &                                            
SERVICES - 0.00%                                                          
Lucent Technologies, Inc.                                                 
   (Expiration date 12/10/2007; strike                                    
   Price $2.75)                                    27,106           5,150 
                                                           -------------- 
TOTAL WARRANTS (Cost $0)                                   $        5,150 
                                                           -------------- 
SHORT TERM INVESTMENTS - 2.64%                                            
State Street Navigator Securities                                         
   Lending Prime Portfolio (c)             $   11,565,679  $   11,565,679 
U.S. Treasury Bills                                                       
   zero coupon due 10/19/2006                   3,235,000       3,226,962 
                                                           -------------- 
TOTAL SHORT TERM INVESTMENTS                                              
(Cost $14,792,642)                                         $   14,792,641 
                                                           -------------- 
REPURCHASE AGREEMENTS - 10.16%                                            
Repurchase Agreement with State                                           
   Street Corp. dated 09/29/2006 at                                       
   3.95% to be repurchased at                                             
   $56,893,721 on 10/02/2006,                                             
   collateralized by $54,285,000                                          
   Federal Home Loan Mortgage                                             
   Corp., 7.00% due 03/15/2010                                            
   (valued at $58,017,094, including                                      
   interest)(c)                            $   56,875,000  $   56,875,000 
                                                           -------------- 
TOTAL REPURCHASE AGREEMENTS                                               
(Cost $56,875,000)                                         $   56,875,000 
                                                           -------------- 
TOTAL INVESTMENTS (ALL CAP CORE TRUST)                                    
   (COST $541,963,809) - 102.02%                           $  570,914,792 
LIABILITIES IN EXCESS OF OTHER ASSETS -                                   
   (2.02)%                                                    (11,324,895)
                                                           -------------- 
TOTAL NET ASSETS - 100.00%                                 $  559,589,897 
                                                           ============== 

ALL CAP GROWTH TRUST                                                            

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 98.20%                                                          
AEROSPACE - 3.86%                                                               
Boeing Company                                           48,315   $    3,809,638
General Dynamics Corp.                                   71,158        5,099,894
Rockwell Collins, Inc. (a)                               23,533        1,290,550

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ALL CAP GROWTH TRUST (CONTINUED)                                                

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

AEROSPACE (CONTINUED)                                                           
United Technologies Corp.                                72,322   $    4,581,598
                                                                  --------------
                                                                      14,781,680
APPAREL & TEXTILES - 0.64%                                                      
Carter's, Inc. * (a)                                     92,389        2,438,146

BANKING - 1.13%                                                                 
Cullen Frost Bankers, Inc.                               32,589        1,884,296
Kookmin Bank, ADR                                        31,384        2,448,893
                                                                  --------------
                                                                       4,333,189
BIOTECHNOLOGY - 0.73%                                                           
Amgen, Inc. *                                            39,030        2,791,816

BROADCASTING - 1.24%                                                            
News Corp.                                              241,639        4,748,206

BUSINESS SERVICES - 0.25%                                                       
Accenture, Ltd., Class A                                 30,354          962,525

CELLULAR COMMUNICATIONS - 0.56%                                                 
America Movil S.A. de C.V., Series L                     54,400        2,141,728

CHEMICALS - 0.72%                                                               
Syngenta AG *                                            18,324        2,763,620

COMPUTERS & BUSINESS EQUIPMENT - 7.90%                                          
Apple Computer, Inc. *                                  111,995        8,626,975
Cisco Systems, Inc. *                                   454,441       10,452,143
Hewlett-Packard Company                                 161,410        5,922,133
Seagate Technology * (a)                                226,232        5,223,697
                                                                  --------------
                                                                      30,224,948
CONSTRUCTION & MINING EQUIPMENT - 1.55%                                         
Joy Global, Inc.                                         69,384        2,609,532
National Oilwell, Inc. *                                 56,915        3,332,373
                                                                  --------------
                                                                       5,941,905
COSMETICS & TOILETRIES - 0.97%                                                  
Colgate-Palmolive Company                                59,856        3,717,058

CRUDE PETROLEUM & NATURAL GAS - 1.99%                                           
Apache Corp.                                             29,816        1,884,371
Occidental Petroleum Corp.                              118,716        5,711,427
                                                                  --------------
                                                                       7,595,798
DRUGS & HEALTH CARE - 1.13%                                                     
Wyeth                                                    84,821        4,312,300

ELECTRICAL EQUIPMENT - 3.16%                                                    
Cooper Industries, Ltd., Class A                         42,967        3,661,648
Emerson Electric Company                                 46,666        3,913,411
Fanuc, Ltd. (a)                                          36,800        2,875,390
Wesco International, Inc. *                              28,445        1,650,663
                                                                  --------------
                                                                      12,101,112
ELECTRONICS - 1.83%                                                             
Amphenol Corp., Class A                                  64,413        3,989,097
KDDI Corp. (a)                                              482        3,006,373
                                                                  --------------
                                                                       6,995,470
ENERGY - 0.86%                                                                  
McDermott International, Inc. *                          78,350        3,275,030

ALL CAP GROWTH TRUST (CONTINUED)                                                

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

FINANCIAL SERVICES - 8.43%                                                      
Charles Schwab Corp.                                    248,708   $    4,451,873
Goldman Sachs Group, Inc.                                45,563        7,707,893
Janus Capital Group, Inc.                               144,881        2,857,053
JPMorgan Chase & Company                                157,005        7,372,955
Merrill Lynch & Company, Inc.                            73,201        5,725,782
Morgan Stanley                                           56,715        4,135,091
                                                                  --------------
                                                                      32,250,647
FOOD & BEVERAGES - 2.09%                                                        
Burger King Holdings, Inc. * (a)                        153,026        2,442,295
Campbell Soup Company (a)                                36,732        1,340,718
PepsiCo, Inc.                                            64,681        4,221,082
                                                                  --------------
                                                                       8,004,095
HEALTHCARE PRODUCTS - 2.92%                                                     
Becton, Dickinson & Company                              64,056        4,526,837
Johnson & Johnson                                        44,052        2,860,737
Varian Medical Systems, Inc. *                           71,212        3,802,009
                                                                  --------------
                                                                      11,189,583
HEALTHCARE SERVICES - 4.40%                                                     
Cardinal Health, Inc.                                    75,111        4,937,797
Caremark Rx, Inc.                                        66,743        3,782,326
Health Net, Inc. *                                      105,119        4,574,779
IMS Health, Inc.                                         48,513        1,292,386
Quest Diagnostics, Inc.                                  36,893        2,256,376
                                                                  --------------
                                                                      16,843,664
HOLDINGS COMPANIES/CONGLOMERATES - 0.78%                                        
Textron, Inc.                                            33,977        2,972,988

HOTELS & RESTAURANTS - 1.47%                                                    
Darden Restaurants, Inc.                                 87,417        3,712,600
Ruby Tuesday, Inc. (a)                                   67,360        1,898,878
                                                                  --------------
                                                                       5,611,478
INDUSTRIAL MACHINERY - 1.14%                                                    
Komatsu, Ltd. (a)                                       147,770        2,554,668
Terex Corp. *                                            40,138        1,815,040
                                                                  --------------
                                                                       4,369,708
INDUSTRIALS - 0.51%                                                             
ABB, Ltd.                                               148,163        1,949,045

INSURANCE - 2.55%                                                               
Assurant, Inc.                                           81,454        4,350,458
Chubb Corp.                                              54,819        2,848,395
HCC Insurance Holdings, Inc.                             77,611        2,551,850
                                                                  --------------
                                                                       9,750,703
INTERNET SERVICE PROVIDER - 0.98%                                               
Google, Inc., Class A *                                   9,357        3,760,578

INTERNET SOFTWARE - 1.18%                                                       
Symantec Corp. *                                        211,351        4,497,549

LEISURE TIME - 1.33%                                                            
Electronic Arts, Inc. *                                  91,247        5,080,633

MANUFACTURING - 0.70%                                                           
Acuity Brands, Inc.                                       4,805          218,147

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ALL CAP GROWTH TRUST (CONTINUED)                                                

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

MANUFACTURING (CONTINUED)                                                       
Cameron International Corp. *                            41,368   $    1,998,488
Mettler-Toledo International, Inc. *                      7,229          478,198
                                                                  --------------
                                                                       2,694,833
MEDICAL-HOSPITALS - 1.21%                                                       
Manor Care, Inc. (a)                                     53,951        2,820,559
VCA Antech, Inc. *                                       50,504        1,821,174
                                                                  --------------
                                                                       4,641,733
METAL & METAL PRODUCTS - 1.44%                                                  
Companhia Vale Do Rio Doce, ADR                         138,415        2,984,227
Precision Castparts Corp.                                40,188        2,538,274
                                                                  --------------
                                                                       5,522,501
MINING - 1.70%                                                                  
BHP Billiton, Ltd.                                      171,807        3,285,607
Rio Tinto PLC                                            68,000        3,216,000
                                                                  --------------
                                                                       6,501,607
OFFICE FURNISHINGS & SUPPLIES - 1.47%                                           
Office Depot, Inc. *                                    141,234        5,606,990

PETROLEUM SERVICES - 2.92%                                                      
Baker Hughes, Inc.                                       66,450        4,531,890
BJ Services Company                                      99,808        3,007,215
Valero Energy Corp.                                      70,964        3,652,517
                                                                  --------------
                                                                      11,191,622
PHARMACEUTICALS - 7.11%                                                         
Abbott Laboratories                                      39,353        1,910,982
Allergan, Inc.                                           29,379        3,308,369
AstraZeneca PLC, SADR                                    77,236        4,827,250
Gilead Sciences, Inc. *                                  79,876        5,487,481
Novartis AG, ADR                                         77,751        4,543,768
Roche Holdings AG                                        41,300        7,140,392
                                                                  --------------
                                                                      27,218,242
RAILROADS & EQUIPMENT - 0.77%                                                   
Burlington Northern Santa Fe Corp.                       40,168        2,949,938

RETAIL TRADE - 9.76%                                                            
Aeropostale, Inc. *                                      66,147        1,933,477
AnnTaylor Stores Corp. *                                 29,812        1,247,930
Best Buy Company, Inc. (a)                              105,215        5,635,315
Costco Wholesale Corp.                                   81,020        4,025,074
DSW, Inc., Class A * (a)                                 47,517        1,496,785
Family Dollar Stores, Inc.                              174,713        5,108,608
Federated Department Stores, Inc.                        74,886        3,235,824
J.C. Penney Company, Inc.                                76,107        5,204,958
Limited Brands, Inc.                                    106,090        2,810,324
Longs Drug Stores Corp.                                  12,384          569,788
Nordstrom, Inc.                                          60,362        2,553,313
PETsMART, Inc.                                          127,362        3,534,296
                                                                  --------------
                                                                      37,355,692
SANITARY SERVICES - 0.87%                                                       
Waste Management, Inc.                                   90,335        3,313,488

ALL CAP GROWTH TRUST (CONTINUED)                                                

                                                                [Download Table]

                                              SHARES OR                    
                                          PRINCIPAL AMOUNT       VALUE     
                                          ----------------  -------------- 
                                                                           
COMMON STOCKS (CONTINUED)                                                  

SEMICONDUCTORS - 2.82%                                                     
Analog Devices, Inc.                                96,886  $    2,847,479 
Freescale Semiconductor, Inc., Class B *            46,529       1,768,567 
Microchip Technology, Inc.                         115,221       3,735,465 
Texas Instruments, Inc.                             73,587       2,446,768 
                                                            -------------- 
                                                                10,798,279 
SOFTWARE - 5.16%                                                           
BEA Systems, Inc. *                                283,750       4,313,000 
Citrix Systems, Inc. *                             118,526       4,291,826 
Microsoft Corp.                                    212,005       5,794,097 
Red Hat, Inc. * (a)                                159,738       3,367,277 
VeriFone Holdings, Inc. * (a)                       69,749       1,991,334 
                                                            -------------- 
                                                                19,757,534 
TELECOMMUNICATIONS EQUIPMENT &                                             
SERVICES - 4.97%                                                           
Amdocs, Ltd. *                                     228,198       9,036,640 
Nokia Oyj, SADR                                    228,925       4,507,533 
QUALCOMM, Inc.                                     150,453       5,468,967 
                                                            -------------- 
                                                                19,013,140 
TELEPHONE - 0.27%                                                          
Harris Corp.                                        22,775       1,013,260 

TOBACCO - 0.15%                                                            
UST, Inc.                                           10,144         556,196 

TRUCKING & FREIGHT - 0.58%                                                 
Oshkosh Truck Corp.                                 44,204       2,230,976 
                                                            -------------- 
TOTAL COMMON STOCKS (Cost $344,100,295)                     $  375,771,233 
                                                            -------------- 
SHORT TERM INVESTMENTS - 8.37%                                             
State Street Navigator Securities                                          
   Lending Prime Portfolio (c)              $   32,033,338  $   32,033,338 
                                                            -------------- 
TOTAL SHORT TERM INVESTMENTS                                               
(Cost $32,033,338)                                          $   32,033,338 
                                                            -------------- 
REPURCHASE AGREEMENTS - 1.27%                                              
Repurchase Agreement with State                                            
   Street Corp. dated 09/29/2006 at                                        
   4.95% to be repurchased at                                              
   $4,850,000 on 10/02/2006,                                               
   collateralized by $4,860,000                                            
   Federal Home Loan Bank, 5.80%                                           
   due 09/02/2008 (valued at                                               
   $4,949,487, including interest)(c)       $    4,848,000  $    4,848,000 
                                                            -------------- 
TOTAL REPURCHASE AGREEMENTS                                                
(Cost $4,848,000)                                           $    4,848,000 
                                                            -------------- 
TOTAL INVESTMENTS (ALL CAP GROWTH TRUST)                                   
   (COST $380,981,633) - 107.84%                            $  412,652,571 
LIABILITIES IN EXCESS OF OTHER                                             
   ASSETS - (7.84)%                                            (29,993,759)
                                                            -------------- 
TOTAL NET ASSETS - 100.00%                                  $  382,658,812 
                                                            ============== 

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ALL CAP VALUE TRUST                                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 95.85%                                                          

AEROSPACE - 1.31%                                                               
Curtiss Wright Corp.                                      5,300   $      160,855
General Dynamics Corp.                                   48,000        3,440,160
Moog, Inc., Class A *                                    20,100          696,666
Woodward Governor Company                                 1,007           33,775
                                                                  --------------
                                                                       4,331,456
APPAREL & TEXTILES - 0.91%                                                      
VF Corp.                                                 41,519        3,028,811

BANKING - 6.12%                                                                 
Bank of America Corp.                                    54,601        2,924,976
Bank of New York Company, Inc.                           65,191        2,298,635
Cullen Frost Bankers, Inc.                               99,765        5,768,412
Marshall & Ilsley Corp.                                  91,736        4,419,840
Popular, Inc. (a)                                        74,500        1,448,280
SunTrust Banks, Inc.                                     25,200        1,947,456
Webster Financial Corp.                                  31,065        1,463,472
                                                                  --------------
                                                                      20,271,071
BUSINESS SERVICES - 3.64%                                                       
Automatic Data Processing, Inc.                          71,771        3,397,639
Cadence Design Systems, Inc. *                          266,670        4,522,723
R.H. Donnelley Corp. * (a)                               20,600        1,089,740
R.R. Donnelley & Sons Company                            91,985        3,031,826
                                                                  --------------
                                                                      12,041,928
CABLE AND TELEVISION - 1.97%                                                    
Comcast Corp.-Special Class A *                         177,263        6,525,051

CHEMICALS - 2.48%                                                               
Cabot Corp.                                              39,000        1,450,800
Eastman Chemical Company                                 24,730        1,335,915
Praxair, Inc.                                            91,982        5,441,655
                                                                  --------------
                                                                       8,228,370
COMMERCIAL SERVICES - 0.64%                                                     
Shaw Group, Inc. * (a)                                   89,521        2,116,276

COMPUTERS & BUSINESS EQUIPMENT - 1.13%                                          
Henry, Jack & Associates, Inc. (a)                       36,600          796,782
Sun Microsystems, Inc. *                                593,100        2,947,707
                                                                  --------------
                                                                       3,744,489
CONTAINERS & GLASS - 1.12%                                                      
Ball Corp.                                               51,469        2,081,921
Sonoco Products Company                                  48,000        1,614,720
                                                                  --------------
                                                                       3,696,641
COSMETICS & TOILETRIES - 1.99%                                                  
Procter & Gamble Company                                106,406        6,595,044

DOMESTIC OIL - 0.08%                                                            
Range Resources Corp.                                    10,600          267,544

DRUGS & HEALTH CARE - 1.60%                                                     
Wyeth                                                   104,209        5,297,986

ELECTRICAL EQUIPMENT - 5.08%                                                    
AMETEK, Inc.                                             18,900          823,095
Anixter International, Inc. *                            59,011        3,332,351
Cooper Industries, Ltd., Class A                         45,300        3,860,466

ALL CAP VALUE TRUST (CONTINUED)                                                 

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

ELECTRICAL EQUIPMENT (CONTINUED)                                                
Emerson Electric Company                                 52,701   $    4,419,506
Hubbell, Inc., Class B (a)                               64,538        3,091,370
Symbol Technologies, Inc.                                86,200        1,280,932
                                                                  --------------
                                                                      16,807,720
ELECTRICAL UTILITIES - 3.44%                                                    
Ameren Corp. (a)                                         27,060        1,428,497
Avista Corp.                                             16,700          395,456
CMS Energy Corp. *                                       77,440        1,118,234
FPL Group, Inc.                                          55,500        2,497,500
PNM Resources, Inc.                                      45,000        1,240,650
The Southern Company                                    137,200        4,727,912
                                                                  --------------
                                                                      11,408,249
ELECTRONICS - 3.53%                                                             
AVX Corp. (a)                                           200,926        3,554,381
Harman International Industries, Inc.                    10,400          867,776
Vishay Intertechnology, Inc. *                          207,022        2,906,589
Zebra Technologies Corp., Class A * (a)                 122,100        4,363,854
                                                                  --------------
                                                                      11,692,600
FINANCIAL SERVICES - 0.63%                                                      
Citigroup, Inc.                                          41,722        2,072,332
FOOD & BEVERAGES - 5.56%                                                        
Campbell Soup Company (a)                               103,300        3,770,450
Diageo PLC, SADR                                         58,200        4,134,528
Kraft Foods, Inc., Class A (a)                           77,500        2,763,650
PepsiCo, Inc.                                           118,621        7,741,206
                                                                  --------------
                                                                      18,409,834
FURNITURE & FIXTURES - 0.76%                                                    
Ethan Allen Interiors, Inc. (a)                          72,909        2,527,026
GAS & PIPELINE UTILITIES - 2.28%                                                
AGL Resources, Inc.                                      23,600          861,400
El Paso Corp. (a)                                       230,000        3,137,200
Nicor, Inc. (a)                                          20,042          856,996
NiSource, Inc.                                           46,219        1,004,801
UGI Corp.                                                69,800        1,706,610
                                                                  --------------
                                                                       7,567,007
GOLD - 1.63%                                                                    
Barrick Gold Corp.                                      175,703        5,397,596

HEALTHCARE PRODUCTS - 0.59%                                                     
Zimmer Holdings, Inc. *                                  29,100        1,964,250

HOLDINGS COMPANIES/CONGLOMERATES - 4.76%                                        
Berkshire Hathaway, Inc., Class B *                       1,296        4,113,504
General Electric Company                                330,521       11,667,391
                                                                  --------------
                                                                      15,780,895
HOTELS & RESTAURANTS - 0.80%                                                    
Brinker International, Inc.                              36,163        1,449,775
OSI Restaurant Partners, Inc. (a)                        26,100          827,631
Ruby Tuesday, Inc. (a)                                   13,500          380,565
                                                                  --------------
                                                                       2,657,971

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ALL CAP VALUE TRUST (CONTINUED)                                                 

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

INDUSTRIAL MACHINERY - 2.03%                                                    
Deere & Company                                           5,155   $      432,556
Dover Corp.                                              17,200          815,968
IDEX Corp.                                               24,000        1,033,200
Kennametal, Inc.                                         16,000          906,400
Parker-Hannifin Corp.                                    42,196        3,279,895
W.W. Grainger, Inc.                                       3,860          258,697
                                                                  --------------
                                                                       6,726,716
INSURANCE - 5.46%                                                               
AFLAC, Inc.                                              59,738        2,733,611
Allstate Corp.                                           25,200        1,580,796
American International Group, Inc.                       75,000        4,969,500
Everest Re Group, Ltd.                                   36,700        3,579,351
Genworth Financial, Inc.                                113,904        3,987,779
Markel Corp. * (a)                                        3,000        1,231,980
                                                                  --------------
                                                                      18,083,017
INTERNATIONAL OIL - 2.06%                                                       
ChevronTexaco Corp.                                      63,900        4,144,554
EnCana Corp.                                             57,000        2,661,330
                                                                  --------------
                                                                       6,805,884
INTERNET SOFTWARE - 1.07%                                                       
McAfee, Inc. *                                          144,501        3,534,494

LIQUOR - 0.98%                                                                  
Anheuser-Busch Companies, Inc.                           68,200        3,240,182

MANUFACTURING - 3.06%                                                           
Carlisle Companies, Inc.                                 54,023        4,543,334
Eaton Corp.                                              23,510        1,618,664
Hexcel Corp. * (a)                                       36,300          513,645
Trinity Industries, Inc. (a)                            107,084        3,444,876
                                                                  --------------
                                                                      10,120,519
METAL & METAL PRODUCTS - 1.74%                                                  
Crown Holdings, Inc. *                                  157,271        2,925,240
Quanex Corp. (a)                                         93,139        2,826,769
                                                                  --------------
                                                                       5,752,009
MINING - 1.92%                                                                  
Newmont Mining Corp.                                    149,029        6,370,990

PETROLEUM SERVICES - 5.67%                                                      
Exxon Mobil Corp.                                       223,609       15,004,164
Halliburton Company                                      46,442        1,321,275
Schlumberger, Ltd.                                       21,764        1,350,021
Superior Energy Services, Inc. *                         41,700        1,095,042
                                                                  --------------
                                                                      18,770,502
PHARMACEUTICALS - 7.46%                                                         
Abbott Laboratories                                      95,000        4,613,200
GlaxoSmithKline PLC, ADR                                 73,556        3,915,386
Mylan Laboratories, Inc.                                286,402        5,765,272
Novartis AG, ADR                                        120,230        7,026,241
Pfizer, Inc.                                             19,756          560,280
Schering-Plough Corp.                                    59,496        1,314,267

ALL CAP VALUE TRUST (CONTINUED)                                                 

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

PHARMACEUTICALS (CONTINUED)                                                     
Teva Pharmaceutical Industries, Ltd., SADR               44,500   $    1,517,005
                                                                  --------------
                                                                      24,711,651
RAILROADS & EQUIPMENT - 0.70%                                                   
GATX Corp. (a)                                           56,300        2,329,131

REAL ESTATE - 0.70%                                                             

Host Hotels & Resorts, Inc., REIT                       101,398        2,325,056

RETAIL GROCERY - 1.75%                                                          
The Kroger Company                                      250,966        5,807,353

RETAIL TRADE - 2.52%                                                            
Federated Department Stores, Inc.                       125,720        5,432,361
Foot Locker, Inc.                                        80,300        2,027,575
Wal-Mart Stores, Inc.                                    17,783          877,058
                                                                  --------------
                                                                       8,336,994
SANITARY SERVICES - 0.87%                                                       
Waste Management, Inc.                                   78,300        2,872,044

TELECOMMUNICATIONS EQUIPMENT & SERVICES                                         
   - 0.98%                                                                      
Avaya, Inc. *                                            40,247          460,426
Tellabs, Inc. *                                         254,303        2,787,161
                                                                  --------------
                                                                       3,247,587
TELEPHONE - 2.81%                                                               
AT&T, Inc.                                              112,700        3,669,512
BellSouth Corp.                                          18,700          799,425
Qwest Communications International,                                             
   Inc. * (a)                                           102,100          890,312
Verizon Communications, Inc.                            105,894        3,931,844
                                                                  --------------
                                                                       9,291,093
TRAVEL SERVICES - 0.55%                                                         
Sabre Holdings Corp.                                     78,445        1,834,829

TRUCKING & FREIGHT - 1.47%                                                      
Heartland Express, Inc.                                 116,576        1,827,912
Werner Enterprises, Inc. (a)                            162,617        3,042,564
                                                                  --------------
                                                                       4,870,476
                                                                  --------------
TOTAL COMMON STOCKS (Cost $287,124,716)                           $  317,460,674
                                                                  --------------
SHORT TERM INVESTMENTS - 11.51%                                                 
State Street Navigator Securities                                               
   Lending Prime Portfolio (c)                   $   38,115,161   $   38,115,161
                                                                  --------------
TOTAL SHORT TERM INVESTMENTS                                                    
(Cost $38,115,161)                                                $   38,115,161
                                                                  --------------

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

ALL CAP VALUE TRUST (CONTINUED)                                                 

                                                                [Download Table]

                                                  SHARES OR                    
                                              PRINCIPAL AMOUNT       VALUE     
                                              ----------------  -------------- 
                                                                               
REPURCHASE AGREEMENTS - 3.96%                                                  

Repurchase Agreement with State                                                
   Street Corp. dated 09/29/2006 at 3.95% to                                   
   be repurchased at $13,114,315 on                                            
   10/02/2006, collateralized by $13,375,000                                   
   Federal National Mortgage Association,                                      
   6.25% due 02/28/2017 (valued at                                             
   $13,375,000, including interest)(c)          $   13,110,000  $   13,110,000 
                                                                -------------- 
TOTAL REPURCHASE AGREEMENTS                                                    
(Cost $13,110,000)                                              $   13,110,000 
                                                                -------------- 
TOTAL INVESTMENTS (ALL CAP VALUE TRUST)                                        
   (COST $338,349,877) - 111.32%                                $  368,685,835 

LIABILITIES IN EXCESS OF OTHER ASSETS -                                        
   (11.32)%                                                        (37,500,430)
                                                                -------------- 
TOTAL NET ASSETS - 100.00%                                      $  331,185,405 
                                                                ============== 

AMERICAN BLUE CHIP INCOME & GROWTH TRUST                                        

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT       VALUE     
                                               ----------------  -------------- 
                                                                                
INVESTMENT COMPANIES - 100.01%                                                  

AMERICAN FUNDS INSURANCE SERIES - 100.01%                                       
American Blue Chip Income & Growth Trust -                                      
   Class 2                                           18,293,715  $  206,170,168 
                                                                 -------------- 
TOTAL INVESTMENT COMPANIES                                                      
   (Cost $176,746,238)                                           $  206,170,168 
                                                                 -------------- 
TOTAL INVESTMENTS (AMERICAN BLUE CHIP INCOME                                    
& GROWTH TRUST) (COST $176,746,238) - 100.01%                    $  206,170,168 
LIABILITIES IN EXCESS OF OTHER ASSETS -                                         
   (0.01)%                                                              (20,399)
                                                                 -------------- 
TOTAL NET ASSETS - 100.00%                                       $  206,149,769 
                                                                 ============== 

AMERICAN BOND TRUST                                                             

                                                                [Download Table]

                                               SHARES OR                    
                                           PRINCIPAL AMOUNT       VALUE     
                                           ----------------  -------------- 
                                                                            
INVESTMENT COMPANIES - 100.00%                                              

AMERICAN FUNDS INSURANCE SERIES - 100.00%                                   
American Bond Trust, Class 2                     39,483,946  $  444,984,066 
                                                             -------------- 
TOTAL INVESTMENT COMPANIES                                                  
   (Cost $441,730,795)                                       $  444,984,066 
                                                             -------------- 
TOTAL INVESTMENTS (AMERICAN BOND TRUST)                                     
   (COST $441,730,795) - 100.00%                             $  444,984,066 
LIABILITIES IN EXCESS OF OTHER ASSETS                                       
   - 0.00%                                                          (22,122)
                                                             -------------- 
TOTAL NET ASSETS - 100.00%                                   $  444,961,944 
                                                             ============== 

AMERICAN GROWTH-INCOME TRUST                                                    

                                                                [Download Table]

                                               SHARES OR                    
                                           PRINCIPAL AMOUNT       VALUE     
                                           ----------------  -------------- 
                                                                            
INVESTMENT COMPANIES - 100.01%                                              
AMERICAN FUNDS INSURANCE SERIES - 100.01%                                   

American Growth-Income Trust - Class 2           28,191,097  $1,138,356,493 
                                                             -------------- 
TOTAL INVESTMENT COMPANIES                                                  
   (Cost $997,660,785)                                       $1,138,356,493 
                                                             -------------- 
TOTAL INVESTMENTS (AMERICAN GROWTH-INCOME                                   
   TRUST)                                                                   
   (COST $997,660,785) - 100.01%                             $1,138,356,493 
LIABILITIES IN EXCESS OF OTHER ASSETS -                                     
   (0.01)%                                                          (79,328)
                                                             -------------- 
TOTAL NET ASSETS - 100.00%                                   $1,138,277,165 
                                                             ============== 

AMERICAN GROWTH TRUST                                                           

                                                                [Download Table]

                                               SHARES OR                    
                                           PRINCIPAL AMOUNT       VALUE     
                                           ----------------  -------------- 
                                                                            
INVESTMENT COMPANIES - 100.01%                                              

AMERICAN FUNDS INSURANCE SERIES - 100.01%                                   
American Growth Trust - Class 2                  23,837,914  $1,436,711,057 
                                                             -------------- 
TOTAL INVESTMENT COMPANIES                                                  
   (Cost $ 1,193,059,007)                                    $1,436,711,057 
                                                             -------------- 
TOTAL INVESTMENTS (AMERICAN GROWTH TRUST)                                   
   (COST $1,193,059,007) - 100.01%                           $1,436,711,057 
LIABILITIES IN EXCESS OF OTHER ASSETS -                                     
   (0.01)%                                                         (107,148)
                                                             -------------- 
TOTAL NET ASSETS - 100.00%                                   $1,436,603,909 
                                                             ============== 

AMERICAN INTERNATIONAL TRUST                                                    

                                                                [Download Table]

                                               SHARES OR                    
                                           PRINCIPAL AMOUNT       VALUE     
                                           ----------------  -------------- 
                                                                            
INVESTMENT COMPANIES - 100.01%                                              

AMERICAN FUNDS INSURANCE SERIES - 100.01%                                   
American International Trust - Class 2           43,780,155  $  908,000,422 
                                                             -------------- 
TOTAL INVESTMENT COMPANIES                                                  
   (Cost $724,706,102)                                       $  908,000,422 
                                                             -------------- 
TOTAL INVESTMENTS (AMERICAN INTERNATIONAL                                   
   TRUST)                                                                   
   (COST $724,706,102) - 100.01%                             $  908,000,422 
LIABILITIES IN EXCESS OF OTHER ASSETS -                                     
   (0.01)%                                                          (67,202)
                                                             -------------- 
TOTAL NET ASSETS - 100.00%                                   $  907,933,220 
                                                             ============== 

BLUE CHIP GROWTH TRUST                                                          

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 99.33%                                                          

ADVERTISING - 0.33%                                                             
Monster Worldwide, Inc. *                               232,100   $    8,399,699

AEROSPACE - 1.51%                                                               
General Dynamics Corp.                                  310,774       22,273,173
Rockwell Collins, Inc.                                  152,599        8,368,529
United Technologies Corp.                               129,300        8,191,155
                                                                  --------------
                                                                      38,832,857

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

BLUE CHIP GROWTH TRUST (CONTINUED)                                              

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

AGRICULTURE - 0.88%                                                             
Monsanto Company                                        477,304   $   22,438,061

BANKING - 1.76%                                                                 
Northern Trust Corp.                                    367,289       21,460,696
Wells Fargo Company (c)                                 656,892       23,766,353
                                                                  --------------
                                                                      45,227,049
BIOTECHNOLOGY - 2.92%                                                           
Amgen, Inc. *                                           554,245       39,645,145
Genentech, Inc. * (a)                                   370,622       30,650,439
Genzyme Corp. *                                          68,100        4,594,707
                                                                  --------------
                                                                      74,890,291
BROADCASTING - 0.33%                                                            
Grupo Televisa SA, SADR                                 393,700        8,370,062

BUSINESS SERVICES - 1.79%                                                       
Automatic Data Processing, Inc.                         643,781       30,476,592
First Data Corp.                                        296,864       12,468,288
Paychex, Inc.                                            83,043        3,060,135
                                                                  --------------
                                                                      46,005,015
CABLE AND TELEVISION - 1.45%                                                    
Rogers Communications, Inc.                             214,884       11,790,685
Time Warner, Inc.                                       615,314       11,217,174
Viacom, Inc. *                                          378,910       14,087,874
                                                                  --------------
                                                                      37,095,733
CELLULAR COMMUNICATIONS - 2.17%                                                 
America Movil S.A. de C.V., Series L                    559,551       22,029,523
American Tower Corp., Class A * (a)                     842,738       30,759,937
Motorola, Inc.                                          115,000        2,875,000
                                                                  --------------
                                                                      55,664,460
COAL - 0.22%                                                                    
CONSOL Energy, Inc.                                     177,900        5,644,767

COMPUTERS & BUSINESS EQUIPMENT - 3.54%                                          
Apple Computer, Inc. *                                  364,500       28,077,435
Cisco Systems, Inc. *                                 1,956,618       45,002,214
Dell, Inc. *                                            276,273        6,310,075
EMC Corp. *                                             947,352       11,349,277
                                                                  --------------
                                                                      90,739,001
COSMETICS & TOILETRIES - 1.52%                                                  
Procter & Gamble Company                                629,374       39,008,601

CRUDE PETROLEUM & NATURAL GAS - 0.07%                                           
EOG Resources, Inc. (a)                                  28,600        1,860,430

DOMESTIC OIL - 0.42%                                                            
Murphy Oil Corp. (a)                                    228,258       10,853,668

DRUGS & HEALTH CARE - 1.46%                                                     
Novartis AG                                             323,266       18,871,186
Wyeth                                                   364,854       18,549,177
                                                                  --------------
                                                                      37,420,363

ELECTRONICS - 1.37%                                                             
Garmin, Ltd. (a)                                        309,000       15,073,020

BLUE CHIP GROWTH TRUST (CONTINUED)                                              

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

ELECTRONICS (CONTINUED)                                                         
Harman International Industries, Inc.                   240,260   $   20,047,294
                                                                  --------------
                                                                      35,120,314
FINANCIAL SERVICES - 14.97%                                                     
Ameriprise Financial, Inc.                               30,351        1,423,462
Charles Schwab Corp.                                  1,275,586       22,832,989
Chicago Merchantile Exchange Holdings, Inc.              16,800        8,034,600
Citigroup, Inc.                                         845,417       41,991,862
Countrywide Financial Corp.                             215,000        7,533,600
E*TRADE Financial Corp. *                               924,129       22,105,166
Franklin Resources, Inc.                                339,265       35,877,274
Goldman Sachs Group, Inc.                               189,876       32,121,323
Legg Mason, Inc.                                        247,670       24,979,996
Mellon Financial Corp.                                  206,761        8,084,355
Merrill Lynch & Company, Inc.                           288,190       22,542,222
Morgan Stanley                                          324,000       23,622,840
SLM Corp.                                               636,792       33,100,448
State Street Corp. (c)                                  733,735       45,785,064
TD Ameritrade Holding Corp. *                           969,774       18,280,240
UBS AG * (c)                                            594,998       35,590,444
                                                                  --------------
                                                                     383,905,885
FOOD & BEVERAGES - 1.36%                                                        
PepsiCo, Inc.                                           380,304       24,818,639
Sysco Corp.                                             296,795        9,927,793
                                                                  --------------
                                                                      34,746,432

HEALTHCARE PRODUCTS - 3.02%                                                     
Alcon, Inc.                                              39,900        4,568,550
Johnson & Johnson                                       169,799       11,026,747
Medtronic, Inc.                                         587,036       27,261,952
St. Jude Medical, Inc. *                                435,036       15,352,420
Stryker Corp.                                           386,979       19,190,289
                                                                  --------------
                                                                      77,399,958
HEALTHCARE SERVICES - 7.25%                                                     
Cardinal Health, Inc.                                   119,595        7,862,175
Caremark Rx, Inc.                                       691,103       39,164,807
DaVita, Inc. *                                           42,700        2,471,049
Humana, Inc. * (a)                                      316,600       20,924,094
Medco Health Solutions, Inc. * (a)                      189,800       11,408,878
Quest Diagnostics, Inc.                                 215,122       13,156,861
UnitedHealth Group, Inc.                              1,216,459       59,849,783
Wellpoint, Inc. *                                       405,272       31,226,208
                                                                  --------------
                                                                     186,063,855
HOLDINGS COMPANIES/CONGLOMERATES - 3.93%                                        
General Electric Company                              2,853,701      100,735,645

HOTELS & RESTAURANTS - 1.48%                                                    
Marriott International, Inc., Class A                   391,288       15,119,369
Wynn Resorts, Ltd. * (a)                                337,427       22,948,410
                                                                  --------------
                                                                      38,067,779
HOUSEHOLD PRODUCTS - 0.25%                                                      
Fortune Brands, Inc.                                     84,138        6,319,605

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

BLUE CHIP GROWTH TRUST (CONTINUED)                                              

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

INDUSTRIAL MACHINERY - 0.08%                                                    
Deere & Company (a)                                      24,987   $    2,096,659

INSURANCE - 3.69%                                                               
Aetna, Inc.                                             447,748       17,708,434
American International Group, Inc.                      661,274       43,816,015
Hartford Financial Services Group, Inc.                 210,684       18,276,837
Prudential Financial, Inc.                              195,100       14,876,375
                                                                  --------------
                                                                      94,677,661
INTERNET RETAIL - 0.99%                                                         
Amazon.com, Inc. * (a)                                  543,989       17,472,927
eBay, Inc. *                                            281,235        7,975,824
                                                                  --------------
                                                                      25,448,751
INTERNET SERVICE PROVIDER - 2.98%                                               
Google, Inc., Class A *                                 122,866       49,379,845
Yahoo!, Inc. *                                        1,064,632       26,913,897
                                                                  --------------
                                                                      76,293,742
INTERNET SOFTWARE - 0.67%                                                       
Juniper Networks, Inc. *                                996,521       17,219,883

LEISURE TIME - 0.97%                                                            
International Game Technology, Inc.                     600,002       24,900,083

MANUFACTURING - 4.06%                                                           
Danaher Corp.                                           929,763       63,846,825
Honeywell International, Inc.                           306,005       12,515,604
Illinois Tool Works, Inc.                               416,974       18,722,133
Tyco International, Ltd.                                325,200        9,102,348
                                                                  --------------
                                                                     104,186,910
PETROLEUM SERVICES - 6.21%                                                      
Baker Hughes, Inc.                                      389,159       26,540,644
Exxon Mobil Corp.                                       470,438       31,566,390
Schlumberger, Ltd.                                      850,192       52,737,410
Smith International, Inc.                               904,272       35,085,754
Total SA, ADR                                           201,308       13,274,249
                                                                  --------------
                                                                     159,204,447
PHARMACEUTICALS - 4.34%                                                         
Allergan, Inc. (a)                                       92,000       10,360,120
Celgene Corp. * (a)                                     303,800       13,154,540
Gilead Sciences, Inc. *                                 487,881       33,517,425
Pfizer, Inc.                                            686,295       19,463,326
Roche Holdings AG                                       106,395       18,394,722
Sepracor, Inc. * (a)                                    338,412       16,392,677
                                                                  --------------
                                                                     111,282,810
PUBLISHING - 0.04%                                                              
McGraw-Hill Companies, Inc.                              16,252          943,104

RAILROADS & EQUIPMENT - 0.36%                                                   
Union Pacific Corp.                                     105,994        9,327,472

RETAIL TRADE - 6.31%                                                            
Bed Bath & Beyond, Inc. *                                47,000        1,798,220
Best Buy Company, Inc.                                  136,540        7,313,082
CVS Corp.                                               495,302       15,909,100
Home Depot, Inc.                                        698,048       25,318,201

BLUE CHIP GROWTH TRUST (CONTINUED)                                              

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

RETAIL TRADE (CONTINUED)                                                        
Kohl's Corp. * (a)                                      664,430   $   43,134,796
Target Corp. (a)                                        516,522       28,537,841
Wal-Mart Stores, Inc.                                   809,364       39,917,832
                                                                  --------------
                                                                     161,929,072
SEMICONDUCTORS - 5.89%                                                          
Analog Devices, Inc.                                    498,943       14,663,935
Applied Materials, Inc.                                 743,200       13,176,936
Intel Corp.                                             622,292       12,800,546
Linear Technology Corp.                                 522,690       16,266,113
Marvell Technology Group, Ltd. * (a)                  1,292,210       25,030,108
Maxim Integrated Products, Inc. (a)                     981,372       27,547,112
Texas Instruments, Inc.                                 622,118       20,685,423
Xilinx, Inc.                                            951,325       20,881,584
                                                                  --------------
                                                                     151,051,757
SOFTWARE - 4.63%                                                                
Adobe Systems, Inc. *                                   460,275       17,237,299
Intuit, Inc. *                                          285,722        9,168,819
Microsoft Corp.                                       2,379,740       65,038,294
Oracle Corp. *                                        1,544,662       27,402,304
                                                                  --------------
                                                                     118,846,716
TELECOMMUNICATIONS EQUIPMENT & SERVICES -                                       
   2.60%                                                                        
Corning, Inc. *                                         605,115       14,770,857
Ericsson LM, Series B                                 3,083,600       10,709,873
Nokia Oyj, SADR                                       1,041,628       20,509,655
QUALCOMM, Inc.                                           80,777        2,936,244
Telus Corp., Non Voting Shares                          315,918       17,681,930
                                                                  --------------
                                                                      66,608,559
TRAVEL SERVICES - 1.51%                                                         
American Express Company                                690,252       38,709,332
                                                                  --------------
TOTAL COMMON STOCKS (Cost $2,190,658,491)                         $2,547,536,488
                                                                  --------------
SHORT TERM INVESTMENTS - 4.59%                                                  
State Street Navigator Securities                                               
   Lending Prime Portfolio (c)                   $  109,117,217   $  109,117,217
T. Rowe Price Reserve Investment Fund (c)             8,772,663        8,772,663
                                                                  --------------
TOTAL SHORT TERM INVESTMENTS                                                    
(Cost $117,889,880)                                               $  117,889,880
                                                                  --------------
REPURCHASE AGREEMENTS - 0.08%                                                   
Repurchase Agreement with State Street                                          
   Corp. dated 09/29/2006 at 3.95% to be                                        
   repurchased at $2,035,670 on 10/02/2006,                                     
   collateralized by $2,200,000 Federal                                         
   National Mortgage Association, 5.70% due                                     
   03/27/2023 (valued at $2,078,676,                                            
   including interest) (c)                       $    2,035,000   $    2,035,000
                                                                  --------------
TOTAL REPURCHASE AGREEMENTS                                                     
(Cost $2,035,000)                                                 $    2,035,000
                                                                  --------------

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

                                                                [Download Table]
                                                           
TOTAL INVESTMENTS (BLUE CHIP GROWTH TRUST)                 
   (COST $2,310,583,371) - 104.00%          $2,667,461,368 
LIABILITIES IN EXCESS OF OTHER ASSETS -                    
   (4.00)%                                    (102,649,644)
                                            -------------- 
TOTAL NET ASSETS - 100.00%                  $2,564,811,724 
                                            ============== 

BOND INDEX TRUST A                                                              

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
U.S. TREASURY OBLIGATIONS - 24.86%                                              

U.S. TREASURY BONDS - 7.57%                                                     
   4.50% due 02/15/2036                          $    2,556,000   $    2,449,167
   7.875% due 02/15/2021                                300,000          394,242
   9.25% due 02/15/2016                                 900,000        1,211,344
   11.25% due 02/15/2015                                950,000        1,381,731
                                                                  --------------
                                                                       5,436,484
U.S. TREASURY NOTES - 17.29%                                                    
   3.125% due 04/15/2009                              1,052,000        1,014,522
   3.25% due 08/15/2007                               2,030,000        2,000,502
   3.375% due 09/15/2009                              1,050,000        1,014,481
   3.875% due 05/15/2010                              1,568,000        1,531,066
   4.75% due 11/15/2008 to 05/15/2014                 2,911,000        2,920,372
   4.875% due 08/15/2016                              1,551,000        1,580,323
   5.50% due 02/15/2008                               2,340,000        2,362,211
                                                                  --------------
                                                                      12,423,477
                                                                  --------------
TOTAL U.S. TREASURY OBLIGATIONS                                                 
(Cost $17,764,036)                                                $   17,859,961
                                                                  --------------
U.S. GOVERNMENT AGENCY OBLIGATIONS - 43.91%                                     

FEDERAL HOME LOAN BANK - 1.64%                                                  
   3.875% due 01/15/2010 to 06/14/2013                1,225,000        1,177,932

FEDERAL HOME LOAN MORTGAGE CORP. - 4.21%                                        
   4.25% due 07/15/2009                                 800,000          785,541
   5.75% due 04/15/2008                               1,100,000        1,112,056
   6.00% due 06/15/2011                                 950,000          992,763
   6.25% due 07/15/2032                                 120,000          139,013
                                                                  --------------
                                                                       3,029,373
FEDERAL NATIONAL MORTGAGE                                                       
   ASSOCIATION - 38.06%                                                         
   4.375% due 10/15/2015                                750,000          721,954
   4.50% due 04/01/2021                               2,225,001        2,145,561
   5.00% due 06/01/2018 to 07/01/2036                 7,429,094        7,191,884
   5.50% due 08/01/2017 to 06/01/2036                 8,829,996        8,722,046
   6.00% due 05/01/2036 to 08/01/2036                 3,370,002        3,385,475
   6.125% due 03/15/2012                              1,275,000        1,347,140
   6.375% due 06/15/2009                              1,200,000        1,243,526
   6.50% due 07/01/2036                               1,500,001        1,527,544
   6.625% due 11/15/2030                                100,000          120,075
   7.125% due 06/15/2010                                750,000          805,809
   7.25% due 05/15/2030                                 100,000          128,438
                                                                  --------------
                                                                      27,339,452
                                                                  --------------
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS                                        
   (Cost $31,317,740)                                             $   31,546,757
                                                                  --------------
FOREIGN GOVERNMENT OBLIGATIONS - 1.07%                                          
CANADA - 0.49%                                                                  
Government of Canada                                                            
   5.25% due 11/05/2008                                 150,000          151,306

BOND INDEX TRUST A (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
FOREIGN GOVERNMENT OBLIGATIONS (CONTINUED)                                      

CANADA (CONTINUED)                                                              
Province of Quebec Canada (continued)                                           
   5.75% due 02/15/2009                          $      200,000   $      203,341
                                                                  --------------
                                                                         354,647
ITALY - 0.34%                                                                   
Italy Government International Bond                                             
   4.50% due 01/21/2015                                 250,000          241,529

MEXICO - 0.24%                                                                  
Government of Mexico                                                            
   9.875% due 02/01/2010                                150,000          171,150
                                                                  --------------
TOTAL FOREIGN GOVERNMENT OBLIGATIONS                                            
(Cost $759,724)                                                   $      767,326
                                                                  --------------
CORPORATE BONDS - 21.34%                                                        

AEROSPACE - 0.45%                                                               
Northrop Grumman Corp.                                                          
   7.75% due 03/01/2016                                 150,000          174,773
Raytheon Company                                                                
   6.75% due 08/15/2007                                 150,000          151,624
                                                                  --------------
                                                                         326,397
AGRICULTURE - 0.24%                                                             
Archer-Daniels-Midland Co                                                       
   7.00% due 02/01/2031                                 150,000          173,727

AUTOMOBILES - 0.29%                                                             
DaimlerChrysler North America Holding                                           
   7.20% due 09/01/2009                                 200,000          208,390

BANKING - 3.10%                                                                 
BAC Capital Trust XI                                                            
   6.625% due 05/23/2036                                150,000          158,246
Bank of America Corp.                                                           
   7.80% due 02/15/2010                                 200,000          215,928
Bank One Corp.                                                                  
   7.875% due 08/01/2010                                250,000          272,567
KfW International Finance, Inc.                                                 
   3.25% due 03/30/2009                                 150,000          144,164
Lehman Brothers Holdings, Inc., Series MTN                                      
   5.75% due 04/25/2011                                 200,000          202,263
Royal Bank of Scotland Group PLC                                                
   5.00% due 11/12/2013                                 300,000          293,587
US Bank NA, Series BKNT                                                         
   6.375% due 08/01/2011                                200,000          209,908
Wachovia Corp.                                                                  
   5.625% due 12/15/2008                                200,000          201,691
Wells Fargo Bank NA                                                             
   6.45% due 02/01/2011                                 500,000          525,083
                                                                  --------------
                                                                       2,223,437
BUILDING MATERIALS & CONSTRUCTION - 0.17%                                       
CRH America, Inc.                                                               
   6.00% due 09/30/2016                                 120,000          120,168

CABLE AND TELEVISION - 0.85%                                                    
Comcast Corp.                                                                   
   5.90% due 03/15/2016                                 200,000          200,092

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

BOND INDEX TRUST A (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

CABLE AND TELEVISION (CONTINUED)                                                
Cox Communications, Inc.                                                        
   4.625% due 01/15/2010                         $      200,000   $      194,542
Time Warner, Inc.                                                               
   7.25% due 10/15/2017                                 200,000          215,879
                                                                  --------------
                                                                         610,513
CHEMICALS - 0.30%                                                               
EI Du Pont de Nemours & Company                                                 
   6.50% due 01/15/2028                                 200,000          217,223

COMPUTERS & BUSINESS EQUIPMENT - 0.48%                                          
Cisco Systems, Inc.                                                             
   5.25% due 02/22/2011                                 150,000          150,631
International Business Machines Corp.                                           
   4.25% due 09/15/2009                                 200,000          195,735
                                                                  --------------
                                                                         346,366
DOMESTIC OIL - 0.50%                                                            
ChevronTexaco Capital Company                                                   
   3.50% due 09/17/2007                                 150,000          147,670
Devon Financing Corp., ULC                                                      
   6.875% due 09/30/2011                                200,000          212,840
                                                                  --------------
                                                                         360,510
ELECTRICAL UTILITIES - 1.08%                                                    
Constellation Energy Group Inc.                                                 
   7.60% due 04/01/2032                                 115,000          135,391
Duke Energy Corp.                                                               
   5.625% due 11/30/2012                                200,000          202,847
FirstEnergy Corp.                                                               
   7.375% due 11/15/2031                                250,000          289,037
Ontario Electricity Financial Corp.                                             
   6.10% due 01/30/2008                                 150,000          151,715
                                                                  --------------
                                                                         778,990
FINANCIAL SERVICES - 4.35%                                                      
American Express Company                                                        
   4.875% due 07/15/2013                                250,000          243,669
Bear Stearns Companies, Inc.                                                    
   5.70% due 11/15/2014                                 250,000          253,584
Capital One Financial Corp, Series MTN                                          
   5.70% due 09/15/2011                                 250,000          251,761
CIT Group, Inc.                                                                 
   4.00% due 05/08/2008                                 150,000          147,171
Citigroup, Inc.                                                                 
   5.00% due 09/15/2014                                 500,000          487,138
Countrywide Home Loans, Inc., Series MTNH                                       
   6.25% due 04/15/2009                                 150,000          153,445
General Electric Capital Corp.                                                  
   6.125% due 02/22/2011                                150,000          155,628
Household Finance Corp.                                                         
   6.375% due 11/27/2012                                100,000          104,910
HSBC Finance Corp.                                                              
   8.00% due 07/15/2010                                 150,000          163,871
International Lease Finance Corp.,                                              
   Series MTN                                                                   
   5.45% due 03/24/2011                                 200,000          201,237
Merrill Lynch & Company, Inc.                                                   
   6.875% due 11/15/2018                                200,000          222,590

BOND INDEX TRUST A (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

FINANCIAL SERVICES (CONTINUED)                                                  
Morgan Stanley                                                                  
   6.75% due 04/15/2011                          $      250,000   $      264,309
National Rural Utilities Cooperative Finance                                    
   Corp.                                                                        
   5.75% due 08/28/2009                                 250,000          254,073
Residential Capital Corp.                                                       
   6.00% due 02/22/2011                                 125,000          124,848
SLM Corp., Series A                                                             
   5.00% due 04/15/2015                                 100,000           96,355
                                                                  --------------
                                                                       3,124,589
FOOD & BEVERAGES - 0.64%                                                        
Kraft Foods, Inc.                                                               
   5.25% due 10/01/2013                                 250,000          247,122
Unilever Capital Corp.                                                          
   7.125% due 11/01/2010                                200,000          213,654
                                                                  --------------
                                                                         460,776
FOREST PRODUCTS - 0.21%                                                         
Weyerhaeuser Company                                                            
   6.125% due 03/15/2007                                150,000          150,167
GAS & PIPELINE UTILITIES - 0.28%                                                
TransCanada Pipelines, Ltd.                                                     
   5.85% due 03/15/2036                                 200,000          198,714

HOLDINGS COMPANIES/CONGLOMERATES - 0.34%                                        
General Electric Company                                                        
   5.00% due 02/01/2013                                 250,000          247,175

INDUSTRIAL MACHINERY - 0.64%                                                    
Caterpillar, Inc.                                                               
   7.25% due 09/15/2009                                 200,000          211,751
John Deere Capital Corp.                                                        
   5.10% due 01/15/2013                                 250,000          247,157
                                                                  --------------
                                                                         458,908
INSURANCE - 1.12%                                                               
Allstate Corp.                                                                  
   7.20% due 12/01/2009                                 400,000          423,937
Marsh & McLennan Companies, Inc.                                                
   4.85% due 02/15/2013                                 200,000          189,267
MetLife, Inc.                                                                   
   5.70% due 06/15/2035                                 200,000          194,342
                                                                  --------------
                                                                         807,546
INTERNATIONAL OIL - 0.23%                                                       
Pemex Project Funding Master Trust                                              
   7.375% due 12/15/2014                                150,000          162,150

LEISURE TIME - 0.35%                                                            
Walt Disney Co, Series MTN                                                      
   5.625% due 09/15/2016                                250,000          251,786

LIQUOR - 0.46%                                                                  
Anheuser Busch Company, Inc.                                                    
   9.00% due 12/01/2009                                 300,000          333,478

MANUFACTURING - 0.30%                                                           
Honeywell International, Inc.                                                   
   7.50% due 03/01/2010                                 200,000          214,484

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

BOND INDEX TRUST A (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

METAL & METAL PRODUCTS - 0.22%                                                  
Alcoa, Inc.                                                                     
   7.375% due 08/01/2010                         $      150,000   $      161,045

PETROLEUM SERVICES - 0.50%                                                      
Anadarko Petroleum Corp.                                                        
   3.25% due 05/01/2008                                 150,000          144,993
Weatherford International, Ltd.                                                 
   5.50% due 02/15/2016                                 215,000          211,744
                                                                  --------------
                                                                         356,737
PHARMACEUTICALS - 0.28%                                                         
Bristol-Myers Squibb Company                                                    
   5.75% due 10/01/2011                                 200,000          203,727

RAILROADS & EQUIPMENT - 0.37%                                                   
Canadian National Railway Company                                               
   6.375% due 10/15/2011                                150,000          157,177
Norfolk Southern Corp.                                                          
   7.35% due 05/15/2007                                 105,000          106,151
                                                                  --------------
                                                                         263,328
REAL ESTATE - 0.76%                                                             
EOP Operating, LP                                                               
   7.00% due 07/15/2011                                 150,000          158,784
Realty Income Corp.                                                             
   5.95% due 09/15/2016                                 135,000          136,612
Simon Property Group, LP                                                        
   6.375% due 11/15/2007                                150,000          151,296
Vornado Realty, LP                                                              
   5.60% due 02/15/2011                                 100,000           99,978
                                                                  --------------
                                                                         546,670
RETAIL - 0.43%                                                                  
Wal-Mart Stores, Inc.                                                           
   7.55% due 02/15/2030                                 250,000          307,085

RETAIL TRADE - 0.30%                                                            
Federated Department Stores, Inc.                                               
   6.625% due 04/01/2011                                100,000          103,540
Target Corp.                                                                    
   7.50% due 08/15/2010                                 100,000          108,104
                                                                  --------------
                                                                         211,644
TELECOMMUNICATIONS EQUIPMENT & SERVICES -                                       
   1.08%                                                                        
Deutsche Telekom International Finance BV                                       
   8.25% due 06/15/2030 (b)                             250,000          305,423
SBC Communications, Inc.                                                        
   5.625% due 06/15/2016                                200,000          197,806
Verizon Global Funding Corp.                                                    
   7.375% due 09/01/2012                                250,000          273,448
                                                                  --------------
                                                                         776,677
TELEPHONE - 1.02%                                                               
BellSouth Corp.                                                                 
   4.20% due 09/15/2009                                 200,000          193,974
British Telecommunications PLC                                                  
   8.58% due 12/15/2030 (b)                             250,000          333,518

BOND INDEX TRUST A (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

TELEPHONE (CONTINUED)                                                           
Sprint Capital Corp.                                                            
   6.875% due 11/15/2028                         $      200,000   $      202,692
                                                                  --------------
                                                                         730,184
                                                                  --------------
TOTAL CORPORATE BONDS (Cost $15,280,151)                          $   15,332,591
                                                                  --------------
COLLATERALIZED MORTGAGE OBLIGATIONS - 4.17%                                     
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2006-1, Class AM                                                      
   5.421% due 09/10/2045 (b)                            200,000          200,048
Bear Stearns Commercial Mortgage Securities,                                    
   Series 2006-PW11, Class AM                                                   
   5.6252% due 03/11/2039 (b)                           200,000          200,906
Citigroup Commercial Mortgage Trust, Series                                     
   2006-C4, Class A1                                                            
   5.9111% due 03/15/2049 (b)                           585,665          595,691
Citigroup/Deutsche Bank Commercial Mortgage,                                    
   Series 2006-CD2, Class AM                                                    
   5.5915% due 01/15/2046 (b)                           200,000          201,275
Countrywide Home Loan Trust,                                                    
   Series 2005-HYB6, Class 1A1                                                  
   5.0512% due 10/20/2035 (b)                            85,280           84,900
GS Mortgage Securities Corp. II, Series                                         
   2006-GG6, Class AM                                                           
   5.622% due 04/10/2038 (b)                            200,000          203,330
JP Morgan Chase Commercial Mortgage                                             
   Securities Corp, Series 2006-LDP8,                                           
   Class A3B                                                                    
   5.447% due 05/15/2045 (b)                            205,000          206,015
Lehman Brothers Holdings, Inc., Series 2006-                                    
   C6, Class AJ                                                                 
   1.00% due 09/15/2039 (c)                             205,000          206,011
Merrill Lynch/Countrywide Commercial                                            
   Mortgage Trust, Series 2006-2, Class A1                                      
   5.773% due 06/12/2046 (b)                            388,320          393,413
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2006-C24, Class A2                                                    
   5.506% due 03/15/2045                                250,000          252,674
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2006-C27, Class A1                                                    
   5.405% due 07/15/2045                                446,176          447,550
                                                                  --------------
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                       
   (Cost $2,973,824)                                              $    2,991,813
                                                                  --------------
ASSET BACKED SECURITIES - 0.63%                                                 
Credit-Based Asset Servicing and                                                
   Securitization, Series 2006-CB2,                                             
   Class AF2                                                                    
   5.501% due 12/25/2036                                250,000          249,492
Renaissance Home Equity Loan Trust, Series                                      
   2006-1, Class AF2                                                            
   5.533% due 05/25/2036                                100,000           99,781
Renaissance Home Equity Loan Trust, Series                                      
   2006-1, Class AF3                                                            
   5.608% due 05/25/2036                                100,000          100,188
                                                                  --------------
TOTAL ASSET BACKED SECURITIES                                                   
(Cost $449,990)                                                   $      449,461
                                                                  --------------

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

BOND INDEX TRUST A (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
REPURCHASE AGREEMENTS - 2.97%                                                   
Repurchase Agreement with State Street Corp.                                    
   dated 09/29/2006 at 3.95% to be                                              
   repurchased at $2,136,703 on 10/02/2006,                                     
   collateralized by $2,190,000 Federal                                         
   National Mortgage Association,                                               
   5.40% due 06/15/2015 (valued at                                              
   $2,179,050, including interest) (c)           $    2,136,000   $    2,136,000
                                                                  --------------
TOTAL REPURCHASE AGREEMENTS                                                     
   (Cost $2,136,000)                                              $    2,136,000
                                                                  --------------
TOTAL INVESTMENTS (BOND INDEX TRUST A)                                          
   (COST $70,681,465) - 98.95%                                    $   71,083,909
OTHER ASSETS IN EXCESS OF LIABILITIES - 1.05%                            753,575
                                                                  --------------
TOTAL NET ASSETS - 100.00%                                        $   71,837,484
                                                                  ==============

BOND INDEX TRUST B                                                              

                                                                [Download Table]

                                                    SHARES OR                   
                                                    PRINCIPAL                   
                                                     AMOUNT            VALUE    
                                                 --------------   --------------
                                                                                
U.S. TREASURY OBLIGATIONS - 21.40%                                              

U.S. TREASURY BONDS - 13.81%                                                    
   4.50% due 02/15/2036 (a)                      $    1,073,000   $    1,028,152
   5.50% due 08/15/2028 (a)                             270,000          294,216
   6.125% due 11/15/2027 to 08/15/2029 (a)              970,000        1,138,669
   6.25% due 05/15/2030 (a)                           1,300,000        1,562,336
   6.625% due 02/15/2027 (a)                            295,000          362,758
   6.75% due 08/15/2026                                 775,000          962,090
   7.50% due 11/15/2016 (a)                           2,200,000        2,695,000
   7.875% due 02/15/2021 (a)                            900,000        1,182,727
   8.75% due 08/15/2020 (a)                           1,400,000        1,953,766
   8.875% due 08/15/2017 (a)                          1,550,000        2,094,075
   9.25% due 02/15/2016 (a)                           1,800,000        2,422,688
   10.375% due 11/15/2012 (a)                         3,300,000        3,494,647
   11.25% due 02/15/2015 (a)                            260,000          378,158
   11.75% due 11/15/2014 (a)                            465,000          559,889
   12.00% due 08/15/2013 (a)                          1,000,000        1,129,414
   13.25% due 05/15/2014 (a)                          1,200,000        1,452,327
                                                                  --------------
                                                                      22,710,912
U.S. TREASURY NOTES - 7.59%                                                     
   3.375% due 09/15/2009 (a)                          1,400,000        1,352,641
   3.875% due 05/15/2010 (a)                          2,050,000        2,001,712
   4.75% due 05/15/2014 (a)                           1,230,000        1,240,426
   4.875% due 08/15/2016 (a)                          3,998,000        4,073,586
   5.00% due 02/15/2011 to 08/15/2011 (a)             2,485,000        2,531,137
   6.00% due 08/15/2009 (a)                           1,250,000        1,295,654
                                                                  --------------
                                                                      12,495,156
                                                                  --------------
TOTAL U.S. TREASURY OBLIGATIONS                                                 
   (Cost $35,988,151)                                             $   35,206,068
                                                                  --------------
U.S. GOVERNMENT AGENCY OBLIGATIONS - 46.52%                                     

FEDERAL HOME LOAN BANK - 1.67%                                                  
   3.875% due 01/15/2010 to 06/14/2013                2,650,000        2,516,644

BOND INDEX TRUST B (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
U.S. GOVERNMENT AGENCY OBLIGATIONS (CONTINUED)                                  

FEDERAL HOME LOAN BANK (CONTINUED)                                              
   5.80% due 09/02/2008                          $      225,000   $      227,742
                                                                  --------------
                                                                       2,744,386
FEDERAL HOME LOAN MORTGAGE CORP. - 7.11%                                        
   4.00% due 05/01/2009                                  87,854           86,126
   4.25% due 07/15/2009                                 650,000          638,252
   4.50% due 05/01/2024 to 10/01/2033                   634,195          597,452
   5.00% due 11/01/2007 to 04/01/2024                   599,314          585,440
   5.50% due 02/01/2023                                 324,534          323,316
   5.75% due 04/15/2008 to 01/15/2012                 3,700,000        3,772,832
   6.00% due 01/01/2009 to 06/01/2022                 1,129,511        1,176,091
   6.25% due 07/15/2032                                 450,000          521,297
   6.50% due 11/01/2015 to 06/01/2021                   266,613          272,925
   6.625% due 09/15/2009                                720,000          752,730
   7.00% due 02/01/2016 to 04/01/2032                   277,972          286,338
   7.10% due 04/10/2007                               2,500,000        2,522,790
   7.50% due 02/01/2016 to 03/01/2032                    91,233           94,539
   8.00% due 02/01/2030                                  13,921           14,650
   8.50% due 10/01/2031                                  43,242           46,353
                                                                  --------------
                                                                      11,691,131
FEDERAL NATIONAL MORTGAGE ASSOCIATION - 34.28%                                  
   4.00% due 11/01/2010 to 08/01/2020                 1,759,178        1,666,757
   4.50% due 12/01/2020 to 06/01/2034                 5,650,010        5,429,510
   5.00% due 01/15/2007 to 12/01/2034                13,499,745       13,111,456
   5.50% due 01/01/2009 to 09/01/2036                18,003,510       17,791,828
   6.00% due 10/01/2013 to 05/01/2035                 5,094,498        5,134,315
   6.125% due 03/15/2012                              2,300,000        2,430,134
   6.25% due 05/15/2029                                 415,000          474,111
   6.375% due 06/15/2009                                800,000          829,018
   6.50% due 02/01/2015 to 02/01/2036                 3,883,203        3,956,473
   6.625% due 09/15/2009 to 11/15/2030                2,130,000        2,287,720
   7.00% due 12/01/2012 to 10/01/2032                   765,288          786,209
   7.125% due 06/15/2010 to 01/15/2030                1,509,000        1,661,099
   7.25% due 05/15/2030                                 450,000          577,971
   7.50% due 10/01/2015 to 08/01/2031                   165,471          171,370
   8.00% due 08/01/2030 to 09/01/2031                    67,064           70,732
   8.50% due 09/01/2030                                  11,857           12,744
                                                                  --------------
                                                                      56,391,447
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION -                                      
   3.15%                                                                        
   4.50% due 05/15/2019 to 08/15/2033                   200,018          190,929
   5.00% due 05/15/2018 to 06/15/2034                   995,830          970,982
   5.50% due 11/15/2032 to 11/15/2034                 1,860,048        1,849,390
   6.00% due 04/15/2017 to 07/15/2034                 1,095,613        1,110,850
   6.50% due 01/15/2016 to 01/15/2033                   612,203          628,759
   7.00% due 08/15/2029 to 05/15/2032                   305,629          315,688
   7.50% due 08/15/2029 to 06/15/2032                    88,416           92,040
   8.00% due 04/15/2031 to 07/15/2031                    21,653           22,948
   8.50% due 09/15/2030                                   6,935            7,442
   9.00% due 01/15/2031                                   4,092            4,435
                                                                  --------------
                                                                       5,193,463

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

BOND INDEX TRUST B (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
U.S. GOVERNMENT AGENCY OBLIGATIONS (CONTINUED)                                  

TENNESSEE VALLEY AUTHORITY - 0.19%                                              
   6.75% due 11/01/2025                          $      260,000   $      309,927

THE FINANCING CORP. - 0.12%                                                     
   8.60% due 09/26/2019                                 150,000          198,901
                                                                  --------------
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS                                        
   (Cost $76,420,410)                                             $   76,529,255
                                                                  --------------
FOREIGN GOVERNMENT OBLIGATIONS - 2.26%                                          

CANADA - 0.51%                                                                  
Government of Canada                                                            
   5.25% due 11/05/2008 (a)                             125,000          126,088
Province of Manitoba Canada, Series BU                                          
   9.625% due 12/01/2018                                300,000          414,737
Province of Quebec Canada, Series NN                                            
   7.125% due 02/09/2024                                150,000          179,343
   7.50% due 07/15/2023                                 100,000          123,402
                                                                  --------------
                                                                         843,570
GREECE - 0.25%                                                                  
Republic of Greece                                                              
   6.95% due 03/04/2008                                 405,000          415,721

ITALY - 0.33%                                                                   
Republic of Italy                                                               
   6.875% due 09/27/2023                                460,000          536,714

MALAYSIA - 0.03%                                                                
Government of Malaysia                                                          
   8.75% due 06/01/2009                                  50,000           54,195

MEXICO - 0.67%                                                                  
Government of Mexico                                                            
   9.875% due 02/01/2010                                970,000        1,106,770

NEW ZEALAND - 0.08%                                                             
Government of New Zealand                                                       
   8.75% due 12/15/2006                                 120,000          120,848

SOUTH KOREA - 0.39%                                                             
Republic of Korea                                                               
   8.875% due 04/15/2008                                600,000          635,479
                                                                  --------------
TOTAL FOREIGN GOVERNMENT OBLIGATIONS                                            
(Cost $3,562,659)                                                 $    3,713,297
                                                                  --------------
CORPORATE BONDS - 21.34%                                                        

AEROSPACE - 0.41%                                                               
Boeing Company                                                                  
   8.75% due 09/15/2031                                  90,000          126,456
Northrop Grumman Corp.                                                          
   7.75% due 03/01/2016                                  75,000           87,387
Raytheon Company                                                                
   6.75% due 08/15/2007                                 200,000          202,165
United Technologies Corp.                                                       
   6.10% due 05/15/2012 (a)                             180,000          188,089
   8.875% due 11/15/2019                                 50,000           65,104
                                                                  --------------
                                                                         669,201

BOND INDEX TRUST B (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

AGRICULTURE - 0.27%                                                             
Archer-Daniels-Midland Co                                                       
   7.00% due 02/01/2031                          $      385,000   $      445,898

ALUMINUM - 0.12%                                                                
Alcan Aluminum, Ltd.                                                            
   6.125% due 12/15/2033                                200,000          199,584

AUTOMOBILES - 0.45%                                                             
DaimlerChrysler North America Holding                                           
   7.20% due 09/01/2009                                 650,000          677,268
Toyota Motor Credit Corp.                                                       
   5.50% due 12/15/2008                                  60,000           60,374
                                                                  --------------
                                                                         737,642
BANKING - 2.76%                                                                 
Bank of America Corp.                                                           
   7.80% due 02/15/2010                                 350,000          377,874
Bank One Corp.                                                                  
   7.875% due 08/01/2010                                300,000          327,080
KfW International Finance, Inc.                                                 
   3.25% due 03/30/2009                                 500,000          480,546
Nationsbank Corp.                                                               
   7.75% due 08/15/2015                                 400,000          462,848
Royal Bank of Scotland Group PLC                                                
   5.00% due 11/12/2013                                 300,000          293,587
   6.40% due 04/01/2009                                 150,000          155,432
SMBC International Finance NV                                                   
   8.50% due 06/15/2009                                 100,000          107,625
US Bank NA, Series BKNT                                                         
   6.375% due 08/01/2011                                325,000          341,101
Wachovia Corp.                                                                  
   4.95% due 11/01/2006                               1,350,000        1,349,316
   5.625% due 12/15/2008                                 75,000           75,634
Wells Fargo Bank NA                                                             
   6.45% due 02/01/2011                                 550,000          577,591
                                                                  --------------
                                                                       4,548,634
BROADCASTING - 0.53%                                                            
Clear Channel Communications, Inc.                                              
   7.65% due 09/15/2010                                 400,000          421,740
News America Holdings                                                           
   7.70% due 10/30/2025                                 100,000          110,605
   8.00% due 10/17/2016 (a)                             250,000          288,303
Viacom, Inc.                                                                    
   7.875% due 07/30/2030                                 50,000           54,598
                                                                  --------------
                                                                         875,246
BUSINESS SERVICES - 0.25%                                                       
First Data Corp.                                                                
   5.625% due 11/01/2011                                400,000          408,048

CABLE AND TELEVISION - 0.52%                                                    
Comcast Cable Communications                                                    
   8.875% due 05/01/2017                                 75,000           90,628
Tele-Communications-TCI Group                                                   
   7.125% due 02/15/2028                                 70,000           73,478
Time Warner Entertainment Company, LP                                           
   8.375% due 07/15/2033                                200,000          235,879
Time Warner, Inc.                                                               
   7.25% due 10/15/2017                                 350,000          377,789

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

BOND INDEX TRUST B (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

CABLE AND TELEVISION (CONTINUED)                                                
Time Warner, Inc. (continued)                                                   
   7.625% due 04/15/2031                         $       75,000   $       82,850
                                                                  --------------
                                                                         860,624
CELLULAR COMMUNICATIONS - 0.52%                                                 
AT&T Wireless Services, Inc.                                                    
   7.875% due 03/01/2011                                300,000          328,528
Vodafone Group PLC                                                              
   7.75% due 02/15/2010                                 500,000          536,147
                                                                  --------------
                                                                         864,675
CHEMICALS - 0.13%                                                               
Eastman Chemical Company                                                        
   7.60% due 02/01/2027                                  50,000           54,832
EI Du Pont de Nemours & Company                                                 
   6.50% due 01/15/2028 (a)                             150,000          162,917
                                                                  --------------
                                                                         217,749
COMPUTERS & BUSINESS EQUIPMENT - 0.43%                                          
International Business Machines Corp.                                           
   4.25% due 09/15/2009                                 600,000          587,204
   7.00% due 10/30/2025                                 100,000          114,486
                                                                  --------------
                                                                         701,690
COSMETICS & TOILETRIES - 0.07%                                                  
Procter & Gamble Company                                                        
   6.45% due 01/15/2026                                 100,000          110,688

DOMESTIC OIL - 0.78%                                                            
Anadarko Finance Company, Series B                                              
   6.75% due 05/01/2011                                 200,000          210,145
ChevronTexaco Capital Company                                                   
   3.50% due 09/17/2007                                 600,000          590,680
ConocoPhillips                                                                  
   6.65% due 07/15/2018                                  50,000           55,023
Devon Financing Corp., ULC                                                      
   6.875% due 09/30/2011                                400,000          425,680
                                                                  --------------
                                                                       1,281,528
DRUGS & HEALTH CARE - 0.06%                                                     
Eli Lilly & Company                                                             
   7.125% due 06/01/2025                                 80,000           93,800

ELECTRICAL UTILITIES - 1.72%                                                    
Alabama Power Company                                                           
   5.70% due 02/15/2033 (a)                              80,000           79,820
Alabama Power Company, Series Q                                                 
   5.50% due 10/15/2017                                 100,000          100,548
Cincinnati Gas & Electric Company                                               
   5.70% due 09/15/2012                                 300,000          302,257
Constellation Energy Group, Inc.                                                
   7.00% due 04/01/2012                                 240,000          256,876
Dominion Resources, Inc.                                                        
   8.125% due 06/15/2010                                200,000          217,679
Duke Energy Corp.                                                               
   5.625% due 11/30/2012                                400,000          405,694
FirstEnergy Corp.                                                               
   7.375% due 11/15/2031                                246,000          284,412
Hydro Quebec, Series HY                                                         
   8.40% due 01/15/2022                                 100,000          131,229

BOND INDEX TRUST B (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

ELECTRICAL UTILITIES (CONTINUED)                                                
Oncor Electric Delivery Company                                                 
   6.375% due 05/01/2012                         $      400,000   $      412,738
Ontario Electricity Financial Corp.                                             
   6.10% due 01/30/2008                                 100,000          101,143
Progress Energy, Inc.                                                           
   7.10% due 03/01/2011                                 500,000          535,971
                                                                  --------------
                                                                       2,828,367
ENERGY - 0.65%                                                                  
MidAmerican Energy Holdings Company                                             
   8.48% due 09/15/2028                                  60,000           76,318
Niagara Mohawk Power Corp., Series G                                            
   7.75% due 10/01/2008                                 200,000          208,766
Norsk Hydro ASA                                                                 
   7.25% due 09/23/2027                                  75,000           87,429
Occidental Petroleum Corp.                                                      
   6.75% due 01/15/2012                                 265,000          283,201
Sempra Energy                                                                   
   6.00% due 02/01/2013                                 400,000          409,818
                                                                  --------------
                                                                       1,065,532
FINANCIAL SERVICES - 4.26%                                                      
American Express Company                                                        
   4.875% due 07/15/2013                                150,000          146,202
Bear Stearns Companies, Inc.                                                    
   5.70% due 11/15/2014                                 240,000          243,441
CIT Group, Inc.                                                                 
   6.00% due 04/01/2036                                 175,000          170,400
Citicorp Capital II                                                             
   8.015% due 02/15/2027                                100,000          104,564
Citigroup, Inc.                                                                 
   5.00% due 09/15/2014                                 472,000          459,858
   5.875% due 02/22/2033                                190,000          189,354
   6.625% due 01/15/2028                                100,000          109,976
Countrywide Home Loans, Inc., Series MTNH                                       
   6.25% due 04/15/2009                                 250,000          255,741
Countrywide Home Loans, Inc., Series MTNK                                       
   5.50% due 02/01/2007                                 200,000          200,016
Credit Suisse First Boston USA, Inc.                                            
   6.50% due 01/15/2012                                 400,000          421,407
FleetBoston Financial Corp.                                                     
   6.70% due 07/15/2028                                  75,000           83,101
   7.375% due 12/01/2009                                100,000          106,458
General Electric Capital Corp.                                                  
   6.125% due 02/22/2011                              1,150,000        1,193,148
Goldman Sachs Capital, Inc.                                                     
   6.345% due 02/15/2034                                160,000          158,981
HSBC Finance Corp.                                                              
   5.875% due 02/01/2009                                280,000          284,628
   8.00% due 07/15/2010                                 350,000          382,366
HSBC Holdings PLC                                                               
   7.50% due 07/15/2009                                 150,000          159,155
JPMorgan Chase & Company                                                        
   7.125% due 02/01/2007                                225,000          226,184
MBNA Corp.                                                                      
   5.00% due 06/15/2015                                 250,000          243,112

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

BOND INDEX TRUST B (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

FINANCIAL SERVICES (CONTINUED)                                                  
Merrill Lynch & Company, Inc.                                                   
   5.45% due 07/15/2014                          $      170,000   $      170,247
   6.875% due 11/15/2018                                120,000          133,554
Morgan Stanley                                                                  
   6.75% due 04/15/2011                                 250,000          264,309
National Rural Utilities Cooperative Finance                                    
   Corp.                                                                        
   5.75% due 08/28/2009                                 700,000          711,403
The Goldman Sachs Group, Inc.                                                   
   7.35% due 10/01/2009                                 500,000          529,969
Washington Mutual Capital I                                                     
   8.375% due 06/01/2027                                 60,000           63,270
                                                                  --------------
                                                                       7,010,844
FOOD & BEVERAGES - 1.04%                                                        
Coca-Cola Enterprises, Inc.                                                     
   8.50% due 02/01/2022                                 100,000          127,812
ConAgra Foods, Inc.                                                             
   7.875% due 09/15/2010                                167,000          181,629
   9.75% due 03/01/2021                                  75,000           96,907
General Mills, Inc.                                                             
   6.00% due 02/15/2012                                 250,000          257,443
Kraft Foods, Inc.                                                               
   4.625% due 11/01/2006                                300,000          299,786
   5.25% due 10/01/2013                                 325,000          321,259
Pepsi Bottling Group, Inc., Series B                                            
   7.00% due 03/01/2029                                 100,000          115,074
Sara Lee Corp.                                                                  
   6.25% due 09/15/2011                                 100,000          102,435
Unilever Capital Corp.                                                          
   7.125% due 11/01/2010                                200,000          213,654
                                                                  --------------
                                                                       1,715,999
FOREST PRODUCTS - 0.13%                                                         
Weyerhaeuser Company                                                            
   6.125% due 03/15/2007                                 76,000           76,085
   7.125% due 07/15/2023                                130,000          130,644
                                                                  --------------
                                                                         206,729
INDUSTRIAL MACHINERY - 0.17%                                                    
Caterpillar, Inc.                                                               
   5.30% due 09/15/2035                                  62,000           58,669
John Deere Capital Corp.                                                        
   5.10% due 01/15/2013                                 170,000          168,067
   6.00% due 02/15/2009 (a)                              60,000           61,004
                                                                  --------------
                                                                         287,740
INSURANCE - 0.48%                                                               
Allstate Corp.                                                                  
   7.20% due 12/01/2009                                 170,000          180,173
AXA SA                                                                          
   8.60% due 12/15/2030                                 120,000          153,203
Hartford Life, Inc.                                                             
   7.65% due 06/15/2027                                  50,000           60,560
Marsh & McLennan Companies, Inc.                                                
   4.85% due 02/15/2013                                 240,000          227,120
Torchmark Corp.                                                                 
   8.25% due 08/15/2009                                 100,000          107,560

BOND INDEX TRUST B (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

INSURANCE (CONTINUED)                                                           
Travelers Property Casualty Corp.                                               
   7.75% due 04/15/2026                          $       50,000   $       59,149
                                                                  --------------
                                                                         787,765
INTERNATIONAL OIL - 0.17%                                                       
Pemex Project Funding Master Trust                                              
   7.375% due 12/15/2014                                260,000          281,060

LIQUOR - 0.32%                                                                  
Anheuser Busch Company, Inc.                                                    
   9.00% due 12/01/2009                                 470,000          522,449

MANUFACTURING - 0.27%                                                           
Honeywell International, Inc.                                                   
   7.50% due 03/01/2010                                  75,000           80,432
Tyco International Group SA                                                     
   6.00% due 11/15/2013                                 350,000          362,190
                                                                  --------------
                                                                         442,622
METAL & METAL PRODUCTS - 0.13%                                                  
Alcoa, Inc.                                                                     
   7.375% due 08/01/2010                                200,000          214,726

PAPER - 0.25%                                                                   
International Paper Company                                                     
   6.75% due 09/01/2011                                 250,000          265,471
MeadWestvaco Corp.                                                              
   6.85% due 04/01/2012                                 100,000          104,449
Westvaco Corp.                                                                  
   7.10% due 11/15/2009                                  35,000           36,898
                                                                  --------------
                                                                         406,818
PETROLEUM SERVICES - 0.09%                                                      
Tosco Corp.                                                                     
   8.125% due 02/15/2030                                110,000          142,319

PHARMACEUTICALS - 0.46%                                                         
Bristol-Myers Squibb Company                                                    
   5.75% due 10/01/2011                                 300,000          305,590
Schering Plough Corp.                                                           
   5.55% due 12/01/2013                                 250,000          250,814
Wyeth                                                                           
   5.50% due 03/15/2013 (b)                             200,000          200,921
                                                                  --------------
                                                                         757,325
RAILROADS & EQUIPMENT - 0.85%                                                   
Canadian National Railway Company                                               
   6.375% due 10/15/2011                                300,000          314,354
CSX Corp.                                                                       
   7.45% due 05/01/2007                                 125,000          126,389
Norfolk Southern Corp.                                                          
   7.35% due 05/15/2007                                 855,000          864,371
Union Pacific Corp.                                                             
   6.625% due 02/01/2029                                 85,000           92,884
                                                                  --------------
                                                                       1,397,998
REAL ESTATE - 0.68%                                                             
EOP Operating, LP                                                               
   6.80% due 01/15/2009                                 150,000          154,502
   7.00% due 07/15/2011                                 250,000          264,639

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

BOND INDEX TRUST B (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

REAL ESTATE (CONTINUED)                                                         
Simon Property Group, LP                                                        
   6.375% due 11/15/2007                         $      700,000   $      706,049
                                                                  --------------
                                                                       1,125,190
RETAIL - 0.15%                                                                  
Wal-Mart Stores, Inc.                                                           
   6.75% due 10/15/2023                                 100,000          111,695
   7.55% due 02/15/2030                                 110,000          135,117
                                                                  --------------
                                                                         246,812
RETAIL GROCERY - 0.10%                                                          
The Kroger Company                                                              
   8.05% due 02/01/2010                                 150,000          161,473

RETAIL TRADE - 0.37%                                                            
Federated Department Stores, Inc.                                               
   6.625% due 04/01/2011                                200,000          207,079
Kellogg Company, Series B                                                       
   7.45% due 04/01/2031 (a)                             100,000          120,687
Safeway, Inc.                                                                   
   5.80% due 08/15/2012                                 150,000          150,164
Target Corp.                                                                    
   6.75% due 01/01/2028                                  25,000           28,065
   7.50% due 08/15/2010                                 100,000          108,105
                                                                  --------------
                                                                         614,100
TELECOMMUNICATIONS EQUIPMENT &                                                  
   SERVICES - 0.85%                                                             
Deutsche Telekom International Finance BV                                       
   8.25% due 06/15/2030 (b)                             546,000          667,043
France Telecom SA                                                               
   8.50% due 03/01/2031 (b)                             100,000          130,474
Verizon Global Funding Corp.                                                    
   4.375% due 06/01/2013 (a)                            370,000          346,970
   7.25% due 12/01/2010                                 230,000          246,705
                                                                  --------------
                                                                       1,391,192
TELEPHONE - 0.83%                                                               
Ameritech Capital Funding                                                       
   6.875% due 10/15/2027                                 60,000           61,515
BellSouth Corp.                                                                 
   6.875% due 10/15/2031                                200,000          208,293
British Telecommunications PLC                                                  
   zero coupon, Step up to 8.625% on                                            
      12/15/2006 due 12/15/2010 (b)                     200,000          224,129
   8.58% due 12/15/2030 (b)                             130,000          173,429
GTE Corp.                                                                       
   6.94% due 04/15/2028                                 100,000          103,571
Sprint Capital Corp.                                                            
   6.875% due 11/15/2028                                150,000          152,019
   7.625% due 01/30/2011                                300,000          323,013
Telefonica Europe BV                                                            
   8.25% due 09/15/2030                                 100,000          119,086
                                                                  --------------
                                                                       1,365,055

BOND INDEX TRUST B (CONTINUED)                                                  

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

UTILITY SERVICE - 0.07%                                                         
United Utilities PLC                                                            
   6.875% due 08/15/2028                         $      100,000   $      109,459
                                                                  --------------
TOTAL CORPORATE BONDS (Cost $34,555,048)                          $   35,096,581
                                                                  --------------
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS - 5.14%                                                             
Bear Stearns Commercial Mortgage Securities,                                    
   Series 2004-PWR3, Class A4                                                   
   4.715% due 02/11/2041                                500,000          482,731
Chase Commercial Mortgage Securities Corp.,                                     
   Series 1997-2, Class A2                                                      
   6.60% due 12/19/2029                                 228,299          229,971
Chase Commercial Mortgage Securities Corp.,                                     
   Series 2000-2, Class A2                                                      
   7.631% due 07/15/2032                                300,000          323,981
Citigroup Commercial Mortgage Trust, Series                                     
   2006-C4, Class A1                                                            
   5.9111% due 03/15/2049 (b)                           585,665          595,690
GE Capital Commercial Mortgage Corp.,                                           
   Series 2001-2, Class A4                                                      
   6.29% due 08/11/2033                                 550,000          573,642
GMAC Commercial Mortgage Securities, Inc.,                                      
   Series 1998-C1, Class A2                                                     
   6.70% due 05/15/2030                                 625,690          635,471
JPMorgan Chase Commercial Mortgage                                              
   Securities Corp., Series 2004-CB8,                                           
   Class A4                                                                     
   4.404% due 01/12/2039                                400,000          377,467
LB Commercial Conduit Mortgage Trust,                                           
   Series 1999-C2, Class A2                                                     
   7.325% due 10/15/2032                                400,000          419,627
LB-UBS Commercial Mortgage Trust,                                               
   Series 2000-C5, Class A1                                                     
   6.41% due 12/15/2019                                 474,884          478,702
Merrill Lynch Mortgage Trust,                                                   
   Series 2006-C1, Class AM                                                     
   5.8441% due 05/12/2039 (b)                           800,000          821,008
Merrill Lynch/Countrywide Commercial                                            
   Mortgage Trust, Series 2006-2, Class A1                                      
   5.773% due 06/12/2046 (b)                            776,639          786,826
Prudential Commercial Mortgage Trust,                                           
   Series 2003-PWR1, Class A2                                                   
   4.493% due 02/11/2036                                450,000          431,647
Salomon Brothers Mortgage Securities VII,                                       
   Series 2000-C1, Class A2                                                     
   7.52% due 12/18/2009                                 300,000          318,325
Salomon Brothers Mortgage Securities VII,                                       
   Series 2000-C3, Class A2                                                     
   6.592% due 12/18/2033                                500,000          522,392
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2004-C11, Class A5                                                    
   5.215% due 01/15/2041                                500,000          496,098
Wells Fargo Mortgage Backed Securities Trust,                                   
   Series 2005-AR16, Class 2A1                                                  
   4.9457% due 10/25/2035 (b)                           963,893          959,915
                                                                  --------------
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                       
(Cost $8,635,514)                                                 $    8,453,493
                                                                  ==============

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

BOND INDEX TRUST B (CONTINUED)                                                  

                                                                [Download Table]

                                                  SHARES OR                    
                                              PRINCIPAL AMOUNT       VALUE     
                                              ----------------  -------------- 
                                                                               
ASSET BACKED SECURITIES - 1.12%                                                
Detroit Edison Securitization Funding, LLC,                                    
   Series 2001-1, Class A6                                                     
   6.62% due 03/01/2016                         $      250,000  $      272,884 
Massachusetts RRB Special Purpose Trust,                                       
   Series 1999-1, Class A5                                                     
   7.03% due 03/15/2012                                150,000         156,786 
MBNA Credit Card Master Note Trust,                                            
   Series 2002-A1, Class A1                                                    
   4.95% due 06/15/2009                              1,000,000         999,506 
MBNA Master Credit Card Trust USA,                                             
   Series 2000-L, Class A                                                      
   6.50% due 04/15/2010                                400,000         406,195 
                                                                -------------- 
TOTAL ASSET BACKED SECURITIES                                                  
(Cost $1,885,240)                                               $    1,835,371 
                                                                -------------- 
SUPRANATIONAL OBLIGATIONS - 0.80%                                              

SUPRANATIONAL - 0.80%                                                          
African Development Bank                                                       
   6.875% due 10/15/2015                                35,000          38,828 
Asian Development Bank                                                         
   5.593% due 07/16/2018                               250,000         258,264 
European Investment Bank                                                       
   4.625% due 03/01/2007                               800,000         798,103 
Inter-American Development Bank                                                
   8.50% due 03/15/2011                                200,000         226,984 
                                                                -------------- 
                                                                     1,322,179 
                                                                -------------- 
TOTAL SUPRANATIONAL OBLIGATIONS                                                
(Cost $1,331,394)                                               $    1,322,179 
                                                                -------------- 
SHORT TERM INVESTMENTS - 19.26%                                                
State Street Navigator Securities                                              
   Lending Prime Portfolio (c)                  $   31,682,251  $   31,682,251 
                                                                -------------- 
TOTAL SHORT TERM INVESTMENTS                                                   
(Cost $31,682,251)                                              $   31,682,251 
                                                                -------------- 
REPURCHASE AGREEMENTS - 0.37%                                                  
Repurchase Agreement with State Street Corp.                                   
   dated 09/29/2006 at 3.95% to be                                             
   repurchased at $615,202 on 10/02/2006,                                      
   collateralized by $615,000 Federal Home                                     
   Loan Mortgage Corp., 5.75% due 05/23/2011                                   
   (valued at $631,913, including interest)                                    
   (c)                                          $      615,000  $      615,000 
                                                                -------------- 
TOTAL REPURCHASE AGREEMENTS                                                    
(Cost $615,000)                                                 $      615,000 
                                                                -------------- 
TOTAL INVESTMENTS (BOND INDEX TRUST B)                                         
   (COST $194,675,667) - 118.21%                                $  194,453,495 
LIABILITIES IN EXCESS OF OTHER                                                 
   ASSETS - (18.21)%                                               (29,956,194)
                                                                -------------- 
TOTAL NET ASSETS - 100.00%                                      $  164,497,301 
                                                                ============== 

CAPITAL APPRECIATION TRUST                                                      

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 99.70%                                                          
AEROSPACE - 3.89%                                                               
Boeing Company                                          235,900   $   18,600,715
United Technologies Corp.                               285,000       18,054,750
                                                                  --------------
                                                                      36,655,465
AGRICULTURE - 0.32%                                                             
Monsanto Company                                         63,800        2,999,238

AMUSEMENT & THEME PARKS - 2.33%                                                 
Walt Disney Company                                     710,900       21,973,919

APPAREL & TEXTILES - 3.08%                                                      
Coach, Inc. *                                           497,644       17,118,954
NIKE, Inc., Class B                                     136,154       11,929,813
                                                                  --------------
                                                                      29,048,767
BIOTECHNOLOGY - 4.09%                                                           
Amgen, Inc. *                                           196,675       14,068,163
Genentech, Inc. *                                       296,269       24,501,446
                                                                  --------------
                                                                      38,569,609
BROADCASTING - 1.02%                                                            
News Corp.                                              489,100        9,610,815

CELLULAR COMMUNICATIONS - 3.74%                                                 
Motorola, Inc.                                          847,600       21,190,000
NII Holdings, Inc. *                                    226,800       14,097,888
                                                                  --------------
                                                                      35,287,888
COMPUTERS & BUSINESS EQUIPMENT - 5.04%                                          
Apple Computer, Inc. *                                  301,444       23,220,231
Cisco Systems, Inc. *                                   940,865       21,639,895
Research In Motion, Ltd. *                               25,600        2,628,096
                                                                  --------------
                                                                      47,488,222
COSMETICS & TOILETRIES - 2.04%                                                  
Procter & Gamble Company                                310,775       19,261,834

CRUDE PETROLEUM & NATURAL GAS - 1.33%                                           
Occidental Petroleum Corp.                              260,100       12,513,411

DRUGS & HEALTH CARE - 1.09%                                                     
Wyeth                                                   201,600       10,249,344

ELECTRONICS - 1.05%                                                             
Agilent Technologies, Inc. *                            301,341        9,850,837

FINANCIAL SERVICES - 9.39%                                                      
Charles Schwab Corp.                                    890,269       15,935,815
Goldman Sachs Group, Inc.                                78,490       13,278,153
KKR Private Equity Investors, LP *                      346,000        7,300,600
Merrill Lynch & Company, Inc.                           178,218       13,940,212
NYSE Group, Inc. * (a)                                  188,700       14,105,325
UBS AG                                                  403,000       23,901,930
                                                                  --------------
                                                                      88,462,035
FOOD & BEVERAGES - 3.80%                                                        
PepsiCo, Inc.                                           402,565       26,271,392
Starbucks Corp. *                                       280,100        9,537,405
                                                                  --------------
                                                                      35,808,797
HEALTHCARE PRODUCTS - 3.47%                                                     
Alcon, Inc.                                             178,981       20,493,324

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

CAPITAL APPRECIATION TRUST (CONTINUED)                                          

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

HEALTHCARE PRODUCTS (CONTINUED)                                                 
St. Jude Medical, Inc. *                                346,726   $   12,235,961
                                                                  --------------
                                                                      32,729,285
HEALTHCARE SERVICES - 4.97%                                                     
Caremark Rx, Inc.                                       250,811       14,213,459
UnitedHealth Group, Inc.                                249,900       12,295,080
Wellpoint, Inc. *                                       263,392       20,294,354
                                                                  --------------
                                                                      46,802,893
HOLDINGS COMPANIES/CONGLOMERATES - 2.29%                                        
General Electric Company                                612,712       21,628,734

HOTELS & RESTAURANTS - 1.62%                                                    
Chipotle Mexican Grill, Inc., Class A * (a)              34,200        1,698,714
Marriott International, Inc., Class A                   352,100       13,605,144
                                                                  --------------
                                                                      15,303,858
INSURANCE - 2.06%                                                               
American International Group, Inc.                      292,448       19,377,604

INTERNET SERVICE PROVIDER - 3.16%                                               
Google, Inc., Class A *                                  74,107       29,783,603

LEISURE TIME - 1.74%                                                            
Electronic Arts, Inc. *                                 294,192       16,380,611

PETROLEUM SERVICES - 2.94%                                                      
Schlumberger, Ltd. (a)                                  256,006       15,880,052
Suncor Energy, Inc.                                     164,048       11,819,659
                                                                  --------------
                                                                      27,699,711
PHARMACEUTICALS - 10.97%                                                        
Abbott Laboratories                                     280,500       13,621,080
Gilead Sciences, Inc. *                                 358,114       24,602,432
Novartis AG, ADR                                        399,524       23,348,182
Pfizer, Inc.                                            165,100        4,682,236
Roche Holdings, Ltd., SADR                              298,289       25,714,779
Sanofi-Aventis, ADR                                     257,027       11,429,991
                                                                  --------------
                                                                     103,398,700
RETAIL GROCERY - 1.91%                                                          
Whole Foods Market, Inc.                                303,366       18,029,041

RETAIL TRADE - 5.65%                                                            
Federated Department Stores, Inc.                       497,810       21,510,370
Kohl's Corp. *                                          112,100        7,277,532
Lowe's Companies, Inc.                                  162,400        4,556,944
Target Corp.                                            265,507       14,669,262
Williams-Sonoma, Inc.                                   160,220        5,189,526
                                                                  --------------
                                                                      53,203,634
SEMICONDUCTORS - 4.55%                                                          
Broadcom Corp., Class A *                               462,650       14,036,801
Marvell Technology Group, Ltd. *                        885,950       17,160,852
Texas Instruments, Inc.                                 350,925       11,668,256
                                                                  --------------
                                                                      42,865,909
SOFTWARE - 5.73%                                                                
Adobe Systems, Inc. *                                   672,485       25,184,563
Microsoft Corp.                                         622,569       17,014,811

CAPITAL APPRECIATION TRUST (CONTINUED)                                          

                                                                [Download Table]

                                                SHARES OR                   
                                                PRINCIPAL                   
                                                 AMOUNT           VALUE     
                                             --------------  -------------- 
                                                                            
COMMON STOCKS (CONTINUED)                                                   
SOFTWARE (CONTINUED)                                                        
SAP AG, SADR                                        238,512  $   11,806,344 
                                                             -------------- 
                                                                 54,005,718 
TELECOMMUNICATIONS EQUIPMENT & SERVICES                                     
   - 4.39%                                                                  
Corning, Inc. *                                     576,300      14,067,483 
Nokia Oyj, SADR                                     487,769       9,604,172 
QUALCOMM, Inc.                                      486,900      17,698,815 
                                                             -------------- 
                                                                 41,370,470 
TRAVEL SERVICES - 2.04%                                                     
American Express Company                            342,926      19,231,290 
                                                             -------------- 
TOTAL COMMON STOCKS (Cost $890,540,395)                      $  939,591,242 
                                                             -------------- 
SHORT TERM INVESTMENTS - 3.28%                                              
State Street Navigator Securities                                           
   Lending Prime Portfolio (c)               $   30,888,156  $   30,888,156 
                                                             -------------- 
TOTAL SHORT TERM INVESTMENTS                                                
(Cost $30,888,156)                                           $   30,888,156 
                                                             -------------- 
REPURCHASE AGREEMENTS - 0.53%                                               
Repurchase Agreement with State Street Corp.                                
   dated 09/29/2006 at 3.95% to be                                          
   repurchased at $4,946,628 on 10/02/2006,                                 
   collateralized by $4,900,000 Federal                                     
   National Mortgage Association, 6.125%                                    
   due 08/17/2026 (valued at $5,047,000,                                    
   including interest) (c)                   $    4,945,000  $    4,945,000 
                                                             -------------- 
TOTAL REPURCHASE AGREEMENTS                                                 
(Cost $4,945,000)                                            $    4,945,000 
                                                             -------------- 
TOTAL INVESTMENTS                                                           
   (CAPITAL APPRECIATION TRUST)                                             
   (COST $926,373,551) - 103.51%                             $  975,424,398 
LIABILITIES IN EXCESS OF OTHER ASSETS                                       
   - (3.51)%                                                    (33,034,642)
                                                             -------------- 
TOTAL NET ASSETS - 100.00%                                   $  942,389,756 
                                                             ============== 

CLASSIC VALUE TRUST                                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 87.32%                                                          

APPAREL & TEXTILES - 0.19%                                                      
Hanesbrands, Inc. *                                       6,972   $      156,937

AUTO PARTS - 6.97%                                                              
AutoZone, Inc. *                                         20,675        2,135,727
Johnson Controls, Inc.                                   16,950        1,215,993
Magna International, Inc., Class A                       31,450        2,296,794
                                                                  --------------
                                                                       5,648,514
BANKING - 2.71%                                                                 
Bank of America Corp.                                    17,950          961,581

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

CLASSIC VALUE TRUST (CONTINUED)                                                 

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

BANKING (CONTINUED)                                                             
Comerica, Inc.                                           21,725   $    1,236,587
                                                                  --------------
                                                                       2,198,168
BROADCASTING - 1.68%                                                            
CBS Corp., Class B                                       48,350        1,362,019

BUSINESS SERVICES - 1.89%                                                       
Computer Sciences Corp. *                                31,200        1,532,544

COMPUTERS & BUSINESS EQUIPMENT - 0.72%                                          
Hewlett-Packard Company                                  15,900          583,371

COSMETICS & TOILETRIES - 1.20%                                                  
Kimberly-Clark Corp.                                     14,850          970,596

ELECTRICAL UTILITIES - 1.31%                                                    
Wisconsin Energy Corp.                                   24,700        1,065,558

ENERGY - 1.89%                                                                  
Sempra Energy                                            30,425        1,528,856

FINANCIAL SERVICES - 17.80%                                                     
Citigroup, Inc.                                          68,425        3,398,669
Federal Home Loan Mortgage Corp.                         41,200        2,732,796
Federal National Mortgage Association                    55,825        3,121,176
JPMorgan Chase & Company                                 25,300        1,188,088
Morgan Stanley                                           29,725        2,167,250
Washington Mutual, Inc.                                  41,800        1,817,046
                                                                  --------------
                                                                      14,425,025
FOOD & BEVERAGES - 1.11%                                                        
Sara Lee Corp.                                           55,775          896,304

HEALTHCARE PRODUCTS - 1.18%                                                     
Johnson & Johnson                                        14,750          957,865

HEALTHCARE SERVICES - 1.91%                                                     
HCA, Inc.                                                31,075        1,550,332

HOUSEHOLD APPLIANCES - 2.77%                                                    
Whirlpool Corp.                                          26,725        2,247,840

INSURANCE - 15.74%                                                              
Allstate Corp.                                           49,100        3,080,043
Aon Corp.                                                45,950        1,556,326
Fidelity National Financial, Inc.                        20,275          844,454
MetLife, Inc.                                            36,700        2,080,156
TorchmarK Corp.                                          33,725        2,128,385
XL Capital, Ltd., Class A                                44,700        3,070,890
                                                                  --------------
                                                                      12,760,254
MANUFACTURING - 2.31%                                                           
Tyco International, Ltd.                                 66,950        1,873,931

PETROLEUM SERVICES - 1.69%                                                      
BP PLC, SADR                                             20,850        1,367,343

PHARMACEUTICALS - 6.25%                                                         
AmerisourceBergen Corp.                                  17,300          781,960
Bristol-Myers Squibb Company                            106,800        2,661,456
Pfizer, Inc.                                             57,100        1,619,356
                                                                  --------------
                                                                       5,062,772

CLASSIC VALUE TRUST (CONTINUED)                                                 

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT       VALUE     
                                               ----------------  -------------- 
                                                                                
COMMON STOCKS (CONTINUED)                                                       

RAILROADS & EQUIPMENT - 2.36%                                                   
Union Pacific Corp.                                      21,750  $    1,914,000 

RETAIL TRADE - 5.80%                                                            
RadioShack Corp.                                         33,675         649,928 
The TJX Companies, Inc.                                  44,700       1,252,941 
Wal-Mart Stores, Inc.                                    56,775       2,800,143 
                                                                 -------------- 
                                                                      4,703,012 
SOFTWARE - 6.39%                                                                
CA, Inc.                                                118,500       2,807,265 
Microsoft Corp.                                          66,875       1,827,694 
Oracle Corp. *                                           30,850         547,279 
                                                                 -------------- 
                                                                      5,182,238 
TELECOMMUNICATIONS EQUIPMENT & SERVICES - 3.45%                                 
Lucent Technologies, Inc. *                           1,196,250       2,799,225 
                                                                 -------------- 
TOTAL COMMON STOCKS (Cost $65,086,484)                           $   70,786,704 
                                                                 -------------- 
REPURCHASE AGREEMENTS - 13.68%                                                  
Repurchase Agreement with State Street Corp.                                    
   dated 09/29/2006 at 3.95% to be repurchased                                  
   at $11,094,651 on 10/02/2006,                                                
   collateralized by $11,620,000 Federal Home                                   
   Loan Mortgage Corp., 5.45% due 03/29/2019                                    
   (valued at $11,314,975, including interest)                                  
   (c)                                           $   11,091,000  $   11,091,000 
                                                                 -------------- 
TOTAL REPURCHASE AGREEMENTS                                                     
   (Cost $11,091,000)                                            $   11,091,000 
                                                                 -------------- 
TOTAL INVESTMENTS (CLASSIC VALUE TRUST)                                         
   (COST $76,177,484) - 101.00%                                  $   81,877,704 
LIABILITIES IN EXCESS OF OTHER ASSETS -                                         
   (1.00)%                                                             (814,502)
                                                                 -------------- 
TOTAL NET ASSETS - 100.00%                                       $   81,063,202 
                                                                 ============== 

CORE BOND TRUST                                                                 

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
U.S. TREASURY OBLIGATIONS - 12.49%                                              

U.S. TREASURY BONDS - 6.33%                                                     
   4.50% due 02/15/2036 (a)***                   $    2,965,000   $    2,841,072
   5.375% due 02/15/2031 (a)                          1,074,000        1,160,004
   6.25% due 05/15/2030 (a)***                        2,097,000        2,520,168
   6.25% due 08/15/2023 ***                           4,294,000        4,986,407
   8.875% due 02/15/2019 (a)                            965,000        1,332,303
                                                                  --------------
                                                                      12,839,954
U.S. TREASURY NOTES - 6.16%                                                     
   4.50% due 02/15/2016 (a)                             385,000          381,135
   4.50% due 11/15/2015 (a)***                        1,504,000        1,489,429
   4.75% due 08/31/2011                                 256,000          256,280
   4.875% due 08/15/2016                              1,502,000        1,530,632

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
U.S. TREASURY OBLIGATIONS (CONTINUED)                                           

U.S. TREASURY NOTES (CONTINUED)                                                 
   4.875% due 05/31/2008 to                                                     
      08/15/2009 (a)                             $    1,016,000   $    1,019,510
   5.125% due 06/30/2008 to 05/15/2016 (a)            7,653,000        7,837,657
                                                                  --------------
                                                                      12,514,643
                                                                  --------------
TOTAL U.S. TREASURY OBLIGATIONS                                                 
(Cost $25,226,791)                                                $   25,354,597
                                                                  --------------
U.S. GOVERNMENT AGENCY OBLIGATIONS - 30.59%                                     

FEDERAL HOME LOAN BANK - 1.61%                                                  
   5.46% due 11/30/2015 ***                           3,251,002        3,270,461

FEDERAL HOME LOAN MORTGAGE CORP. - 10.32%                                       
   3.57% due 06/15/2029                                 779,431          756,349
   3.90% due 01/15/2023                               1,049,949        1,019,146
   4.50% due 02/01/2019 to 08/01/2035                 5,373,479        5,203,663
   4.50% due 07/01/2035 ***                           1,864,995        1,743,574
   5.00% due 10/01/2020 to 07/01/2035                 4,923,881        4,816,291
   5.095% due 02/01/2036                              1,343,500        1,325,314
   5.396% due 09/01/2035                                  2,516            2,495
   5.50% due 01/01/2018 to 05/15/2026                 2,517,867        2,522,439
   5.50% due 11/01/2018 ***                             699,629          700,774
   5.601% due 05/01/2036 ***                          1,695,384        1,705,574
   5.829% due 05/01/2036                                  6,808            6,824
   5.897% due 05/01/2036                                  3,676            3,694
   6.00% due 07/01/2036                                 768,512          772,537
   6.00% TBA **                                         197,000          199,740
   6.158% due 08/01/2036                                      9                9
   6.625% due 09/15/2009                                165,000          172,501
                                                                  --------------
                                                                      20,950,924
FEDERAL NATIONAL MORTGAGE ASSOCIATION                                           
   - 14.67%                                                                     
   4.33% due 11/01/2011                                 191,491          184,699
   4.50% due 01/01/2034 to 02/01/2035                   866,664          811,324
   4.653% due 10/01/2012                                144,412          141,027
   4.868% due 09/01/2035                                201,017          196,027
   5.00% due 07/01/2033 to 11/01/2034                 7,481,331        7,214,354
   5.068% due 07/01/2035                                421,049          416,237
   5.298% due 04/01/2036                                325,281          325,055
   5.504% due 01/01/2033 to 06/01/2036                3,151,373        3,117,514
   5.50% due 04/01/2034 ***                           1,028,238        1,015,878
   5.50% TBA **                                      10,901,000       10,737,485
   5.662% due 06/01/2036                                273,685          275,366
   5.67% due 03/01/2009                                 402,355          405,327
   5.829% due 07/01/2036                              1,211,753        1,223,365
   5.927% due 09/01/2036                              1,034,000        1,046,254
   6.00% due 07/01/2036                               1,113,851        1,118,988
   6.00% TBA **                                         980,000          984,288
   6.44% due 06/01/2036                                 576,372          588,244
                                                                  --------------
                                                                      29,801,432
GOVERNMENT NATIONAL MORTGAGE                                                    
   ASSOCIATION - 3.99%                                                          
   5.50% due 10/20/2034                               1,000,337          991,360
   6.00% TBA **                                       1,119,000        1,128,879

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
U.S. GOVERNMENT AGENCY                                                          
OBLIGATIONS (CONTINUED)                                                         

GOVERNMENT NATIONAL MORTGAGE                                                    
   ASSOCIATION (CONTINUED)                                                      
   6.50% due 07/20/2034 to 09/20/2036            $    3,936,080   $    4,027,988
   6.50% TBA **                                       1,909,000        1,952,400
                                                                  --------------
                                                                       8,100,627
                                                                  --------------
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS                                        
(Cost $61,712,054)                                                $   62,123,444
                                                                  --------------
FOREIGN GOVERNMENT OBLIGATIONS - 0.42%                                          

CANADA - 0.09%                                                                  
Province of Quebec Canada                                                       
   7.50% due 09/15/2029 (a)                             140,000          179,592

MEXICO - 0.33%                                                                  
Government of Mexico                                                            
   5.625% due 01/15/2017 (a)                            380,000          375,440
   5.875% due 01/15/2014 (a)                            171,000          174,847
   6.75% due 09/27/2034 (a)                             120,000          127,380
                                                                  --------------
                                                                         677,667
                                                                  --------------
TOTAL FOREIGN GOVERNMENT OBLIGATIONS                                            
(Cost $821,670)                                                   $      857,259
                                                                  --------------
CORPORATE BONDS - 19.49%                                                        

APPAREL & TEXTILES - 0.21%                                                      
Mohawk Industries, Inc.                                                         
   5.75% due 01/15/2011                                 420,000          418,230

AUTOMOBILES - 0.34%                                                             
DaimlerChrysler N.A. Holding Corp.                                              
   6.50% due 11/15/2013                                 125,000          128,184
   8.50% due 01/18/2031                                 114,000          135,479
DaimlerChrysler N.A. Holding Corp.,                                             
   Series MTN                                                                   
   5.75% due 09/08/2011                                 435,000          433,039
                                                                  --------------
                                                                         696,702
BANKING - 1.08%                                                                 
Bank of America Corp.                                                           
   4.25% due 10/01/2010                                 180,000          174,464
   5.375% due 06/15/2014 (a)                            225,000          225,968
Credit Suisse USA, Inc.                                                         
   5.85% due 08/16/2016 (a)                             110,000          112,879
HSBC Holdings PLC                                                               
   6.50% due 05/02/2036                                 235,000          249,466
PNC Funding Corp.                                                               
   5.25% due 11/15/2015                                 351,000          345,462
Royal Bank of Scotland Group PLC                                                
   5.00% due 10/01/2014                                 280,000          272,801
Wachovia Corp.                                                                  
   4.875% due 02/15/2014                                290,000          280,570
Washington Mutual Bank FA                                                       
   5.65% due 08/15/2014                                 315,000          315,619
Zions Bancorporation                                                            
   5.50% due 11/16/2015 (a)                             210,000          207,484
                                                                  --------------
                                                                       2,184,713

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

BROADCASTING - 0.20%                                                            
Viacom, Inc.                                                                    
   5.75% due 04/30/2011                          $      350,000   $      349,302
   6.25% due 04/30/2016                                  60,000           59,474
                                                                  --------------
                                                                         408,776
BUSINESS SERVICES - 0.15%                                                       
Xerox Corp.                                                                     
   6.40% due 03/15/2016                                 300,000          298,500

CABLE AND TELEVISION - 0.70%                                                    
AOL Time Warner, Inc.                                                           
   6.875% due 05/01/2012                                320,000          338,365
Comcast Corp.                                                                   
   5.65% due 06/15/2035                                 139,000          126,109
   5.90% due 03/15/2016                                 345,000          345,159
News America, Inc.                                                              
   6.40% due 12/15/2035                                 230,000          225,568
Rogers Cable, Inc.                                                              
   5.50% due 03/15/2014                                 260,000          244,400
Time Warner Entertainment Company, LP                                           
   8.375% due 07/15/2033                                124,000          146,245
                                                                  --------------
                                                                       1,425,846
CELLULAR COMMUNICATIONS - 0.69%                                                 
America Movil SA de CV                                                          
   6.375% due 03/01/2035                                136,000          129,976
AT&T Broadband Corp.                                                            
   8.375% due 03/15/2013                                233,000          265,780
Cingular Wireless Services, Inc.                                                
   8.125% due 05/01/2012                                240,000          270,139
Verizon Wireless Capital LLC                                                    
   5.375% due 12/15/2006                                390,000          389,861
Vodafone Group PLC                                                              
   5.50% due 06/15/2011                                 335,000          335,807
                                                                  --------------
                                                                       1,391,563
CRUDE PETROLEUM & NATURAL GAS - 0.41%                                           
Anadarko Finance Company, Series B                                              
   7.50% due 05/01/2031                                  70,000           80,040
Canadian Natural Resources, Ltd.                                                
   6.50% due 02/15/2037                                 145,000          146,995
EnCana Corp.                                                                    
   6.50% due 08/15/2034                                 123,000          127,753
Ras Laffan Liquefied Natural Gas Company,                                       
   Ltd. III                                                                     
   6.332% due 09/30/2027                                480,000          482,664
                                                                  --------------
                                                                         837,452
DOMESTIC OIL - 0.50%                                                            
Anadarko Finance Company, Series B                                              
   6.75% due 05/01/2011                                 365,000          383,514
ConocoPhillips                                                                  
   5.90% due 10/15/2032 (a)                             145,000          148,310
Devon Financing Corp., ULC                                                      
   6.875% due 09/30/2011                                445,000          473,570
                                                                  --------------
                                                                       1,005,394
DRUGS & HEALTH CARE - 0.27%                                                     
Wyeth                                                                           
   5.50% due 02/15/2016                                 555,000          554,557

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

ELECTRICAL UTILITIES - 1.60%                                                    
Allegheny Energy Supply Company LLC                                             
   8.25% due 04/15/2012                          $      185,000   $      201,650
Dominion Resources, Inc.                                                        
   5.95% due 06/15/2035 (a)                             134,000          130,113
DPL, Inc.                                                                       
   6.875% due 09/01/2011                                415,000          436,880
FirstEnergy Corp.                                                               
   6.45% due 11/15/2011                                 180,000          187,772
Kansas Gas & Electric                                                           
   5.647% due 03/29/2021                                346,000          335,073
MidAmerican Energy Holdings Company                                             
   6.125% due 04/01/2036                                140,000          141,512
Nevada Power Company                                                            
   5.95% due 03/15/2016                                 310,000          309,699
Progress Energy, Inc.                                                           
   6.85% due 04/15/2012                                 575,000          614,422
PSEG Power LLC                                                                  
   5.00% due 04/01/2014                                 140,000          133,410
   7.75% due 04/15/2011                                 250,000          271,251
Public Service Company of Colorado                                              
   7.875% due 10/01/2012                                303,000          342,126
TXU Electric Delivery Company                                                   
   6.375% due 01/15/2015                                140,000          144,541
                                                                  --------------
                                                                       3,248,449
FINANCIAL SERVICES - 6.85%                                                      
American Express Company                                                        
   5.50% due 09/12/2016                                 285,000          286,130
Capital One Bank                                                                
   4.875% due 05/15/2008                                330,000          328,039
Capital One Financial Corp.                                                     
   5.50% due 06/01/2015                                 305,000          299,079
   6.15% due 09/01/2016                                 210,000          212,491
   8.75% due 02/01/2007                                 488,000          492,990
CIT Group, Inc., Series MTN                                                     
   4.75% due 08/15/2008                                 306,000          303,432
Citigroup, Inc.                                                                 
   3.625% due 02/09/2009                                730,000          706,487
   5.10% due 09/29/2011                                 290,000          289,117
   5.85% due 08/02/2016                                 280,000          289,395
Credit Suisse USA, Inc.                                                         
   5.50% due 08/16/2011                                 510,000          514,573
General Electric Capital Corp.                                                  
   4.875% due 03/04/2015                                187,000          182,131
   6.75% due 03/15/2032                                 140,000          160,026
General Electric Capital Corp., Series A,                                       
   MTN                                                                          
   3.75% due 12/15/2009 (a)                             469,000          450,777
   6.00% due 06/15/2012                                 597,000          620,282
Hartford Financial Services Group, Inc.                                         
   5.95% due 10/15/2036                                 115,000          110,860
HSBC Finance Corp.                                                              
   4.75% due 04/15/2010                                 938,000          925,519
International Lease Finance Corp.,                                              
   Series MTN                                                                   
   5.45% due 03/24/2011                                 470,000          472,907
   5.62% due 05/24/2010 (b)                             210,000          210,420

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

FINANCIAL SERVICES (CONTINUED)                                                  
JP Morgan Chase & Company                                                       
   5.125% due 09/15/2014                         $      170,000   $      166,700
   5.60% due 06/01/2011                               1,015,000        1,032,066
Lazard Group, LLC                                                               
   7.125% due 05/15/2015                                315,000          328,221
Lehman Brothers Holdings, Inc., Series MTN                                      
   5.75% due 05/17/2013                                 435,000          442,726
Merrill Lynch & Company, Inc.                                                   
   6.05% due 05/16/2016                                 345,000          356,206
   6.22% due 09/15/2026                                 170,000          174,145
Merrill Lynch & Company, Inc., Series MTNC                                      
   4.25% due 02/08/2010                                 265,000          257,404
Morgan Stanley                                                                  
   5.375% due 10/15/2015                                400,000          394,964
Morgan Stanley, Series MTN                                                      
   5.625% due 01/09/2012                                355,000          359,600
   6.25% due 08/09/2026                                 140,000          144,933
Residential Capital Corp.                                                       
   6.125% due 11/21/2008                                340,000          341,330
   6.50% due 04/17/2013                                 275,000          279,274
   6.7419% due 06/29/2007 (b)                           220,000          221,281
SLM Corp., Series MTN                                                           
   5.6647% due 07/26/2010 (a)(b)                        485,000          484,980
The Goldman Sachs Group, Inc.                                                   
   5.125% due 01/15/2015                                532,000          515,772
   6.45% due 05/01/2036                                 140,000          144,051
Washington Mutual, Inc.                                                         
   4.00% due 01/15/2009                                 163,000          158,649
WEA Finance LLC/WCI Finance LLc                                                 
   5.70% due 10/01/2016                                 475,000          474,369
Westfield Group                                                                 
   5.40% due 10/01/2012                                 790,000          788,971
                                                                  --------------
                                                                      13,920,297
FOOD & BEVERAGES - 0.59%                                                        
Diageo Capital PLC                                                              
   5.50% due 09/30/2016                                 435,000          430,475
Kraft Foods, Inc.                                                               
   5.25% due 10/01/2013                                 235,000          232,295
   5.625% due 11/01/2011                                367,000          370,796
SABMiller PLC                                                                   
   6.50% due 07/01/2016                                 155,000          161,917
                                                                  --------------
                                                                       1,195,483
GAS & PIPELINE UTILITIES - 0.46%                                                
Duke Capital LLC                                                                
   7.50% due 10/01/2009                                 264,000          280,830
   8.00% due 10/01/2019                                  80,000           92,948
Energy Transfer Partners LP                                                     
   5.65% due 08/01/2012                                 220,000          218,013
Kinder Morgan Energy Partners LP                                                
   5.80% due 03/15/2035                                 140,000          127,361
Kinder Morgan, Inc.                                                             
   6.50% due 09/01/2012                                 215,000          215,176
                                                                  --------------
                                                                         934,328

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

HEALTHCARE PRODUCTS - 0.32%                                                     
Baxter International, Inc.                                                      
   5.90% due 09/01/2016                          $      210,000   $      215,676
Boston Scientific Corp.                                                         
   6.00% due 06/15/2011                                 220,000          221,313
   6.25% due 11/15/2035                                 140,000          138,442
   6.40% due 06/15/2016                                  75,000           75,636
                                                                  --------------
                                                                         651,067
HEALTHCARE SERVICES - 0.15%                                                     
Aetna, Inc.                                                                     
   6.625% due 06/15/2036                                100,000          105,705
WellPoint, Inc.                                                                 
   5.85% due 01/15/2036                                 215,000          208,537
                                                                  --------------
                                                                         314,242
INSURANCE - 0.54%                                                               
Ace INA Holdings, Inc.                                                          
   6.70% due 05/15/2036                                 170,000          178,824
American International Group, Inc.                                              
   4.70% due 10/01/2010                                 332,000          326,548
GE Global Insurance Holding Corp.                                               
   7.00% due 02/15/2026                                 155,000          169,936
Hartford Financial Services Group, Inc.                                         
   5.50% due 10/15/2016                                 145,000          143,811
Liberty Mutual Insurance Company                                                
   7.875% due 10/15/2026                                 90,000          101,564
XL Capital, Ltd.                                                                
   6.375% due 11/15/2024 (a)                            180,000          184,968
                                                                  --------------
                                                                       1,105,651
INTERNATIONAL OIL - 0.12%                                                       
Pemex Project Funding Master Trust                                              
   6.625% due 06/15/2035                                115,000          112,988
   7.375% due 12/15/2014                                116,000          125,396
                                                                  --------------
                                                                         238,384

INVESTMENT COMPANIES - 0.29%                                                    
Allied Capital Corp.                                                            
   6.625% due 07/15/2011                                580,000          591,240

LEISURE TIME - 0.14%                                                            
Harrah's Operating Company, Inc.                                                
   6.50% due 06/01/2016                                 295,000          289,185

MANUFACTURING - 0.21%                                                           
Tyco International Group SA                                                     
   6.375% due 10/15/2011                                401,000          420,365

PAPER - 0.31%                                                                   
Celulosa Arauco y Constitucion SA                                               
   5.625% due 04/20/2015                                170,000          165,306
International Paper Company                                                     
   5.85% due 10/30/2012                                 455,000          464,926
                                                                  --------------
                                                                         630,232
PHARMACEUTICALS - 0.07%                                                         
Teva Pharmaceutical Finance LLC                                                 
   6.15% due 02/01/2036                                 140,000          134,734

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

REAL ESTATE - 0.85%                                                             
Developers Diversified Realty Corp., REIT                                       
   5.375% due 10/15/2012                         $      344,000   $      340,479
EOP Operating LP                                                                
   4.75% due 03/15/2014                                 200,000          189,179
ProLogis, REIT                                                                  
   5.25% due 11/15/2010                                 100,000           99,372
   5.50% due 04/01/2012                                 285,000          284,079
Simon Property Group LP, REIT                                                   
   5.60% due 09/01/2011                                 380,000          382,830
   6.10% due 05/01/2016                                 195,000          201,079
Ventas Realty LP/Capital Corp. REIT                                             
   6.75% due 04/01/2017                                 220,000          221,375
                                                                  --------------
                                                                       1,718,393
RETAIL - 0.07%                                                                  
Home Depot, Inc.                                                                
   5.40% due 03/01/2016                                 145,000          144,043

TELECOMMUNICATIONS EQUIPMENT & SERVICES -                                       
   0.67%                                                                        
Corning, Inc.                                                                   
   7.25% due 08/15/2036                                 155,000          165,080
Deutsche Telekom International Finance BV                                       
   5.75% due 03/23/2016 (a)                             265,000          259,270
   8.25% due 06/15/2030 (b)                              70,000           85,518
Embarq Corp.                                                                    
   7.082% due 06/01/2016                                210,000          214,221
SBC Communications, Inc.                                                        
   5.10% due 09/15/2014                                 470,000          454,112
   6.15% due 09/15/2034                                 190,000          183,941
                                                                  --------------
                                                                       1,362,142
TELEPHONE - 1.46%                                                               
AT&T Corp.                                                                      
   7.3 due 11/15/2011 (b)                               165,000          178,841
AT&T, Inc.                                                                      
   6.80% due 05/15/2036                                 140,000          147,075
BellSouth Corp.                                                                 
   6.00% due 11/15/2034 (a)                             100,000           93,866
British Telecommunications PLC                                                  
   8.58% due 12/15/2030 (b)                             116,000          154,752
Sprint Capital Corp.                                                            
   6.00% due 01/15/2007                                 596,000          596,639
   6.125% due 11/15/2008                                349,000          354,112
   8.375% due 03/15/2012                                350,000          392,274
Telecom Italia Capital SA                                                       
   6.00% due 09/30/2034                                 170,000          151,990
   7.20% due 07/18/2036                                  70,000           71,946
Telefonica Emisones SAU                                                         
   5.984% due 06/20/2011                                335,000          341,352
Verizon Communications, Inc.                                                    
   5.35% due 02/15/2011 (a)                             230,000          230,613
   5.55% due 02/15/2016                                 265,000          261,503
                                                                  --------------
                                                                       2,974,963
TRANSPORTATION - 0.24%                                                          
Canadian National Railway Company                                               
   6.20% due 06/01/2036                                 215,000          229,763

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

TRANSPORTATION (CONTINUED)                                                      
Norfolk Southern Corp.                                                          
   7.05% due 05/01/2037                          $      222,000   $      258,790
                                                                  --------------
                                                                         488,553
                                                                  --------------
TOTAL CORPORATE BONDS (Cost $39,357,307)                          $   39,583,484
                                                                  --------------
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS - 32.16%                                                            
Federal National Mortgage Association,                                          
   Series 1993-39, Class ZQ                                                     
   6.50% due 12/25/2023                                 252,672          260,149
Federal National Mortgage Association,                                          
   Series 1993-41, Class Z                                                      
   7.00% due 12/25/2023                                 326,986          341,399
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2002-PB2, Class B                                                     
   6.309% due 06/11/2035                                136,000          142,243
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2004-1, Class A4                                                      
   4.76% due 11/10/2039                                 174,000          168,343
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2003-1, Class A2                                                      
   4.648% due 09/11/2036                                168,000          162,761
Bear Stearns Commercial Mortgage Securities,                                    
   Inc., Series 2003-T10, Class A2                                              
   4.74% due 03/13/2040                                 114,000          110,978
Bear Stearns Commercial Mortgage Securities,                                    
   Inc., Series 2004-ESA, Class B                                               
   4.888% due 05/14/2016                                 73,000           72,405
Bear Stearns Commercial Mortgage Securities,                                    
   Inc., Series 2004-ESA, Class C                                               
   4.937% due 05/14/2016                                562,000          559,383
Bear Stearns Commercial Mortgage Securities,                                    
   Inc., Series 2005-PWR8, Class AAB                                            
   4.581% due 06/11/2041                                573,000          551,878
Bear Stearns Commercial Mortgage Securities,                                    
   Inc., Series 2006-T22, Class AM                                              
   5.4667% due 04/12/2038 (b)                           329,000          333,939
Commercial Mortgage Pass Through                                                
   Certificates, Series 1999-1, Class E                                         
   7.0903% due 05/15/2032 (b)                           419,000          434,405
Commercial Mortgage Pass Through                                                
   Certificates, Series 2000-C1, Class C                                        
   7.706% due 08/15/2033                                 66,000           71,388
Countrywide Alternative Loan Trust,                                             
   Series 2005-J4, Class 2A1B                                                   
   5.45% due 07/25/2035 (b)                              51,366           51,359
Countrywide Alternative Loan Trust,                                             
   Series 2006-OC8, Class 2A1B                                                  
   5.41% due 07/25/2036 (b)                             432,000          432,000
Credit Suisse Mortgage Capital Certificates,                                    
   Series 2006-C4, Class AM                                                     
   5.509% due 09/15/2039                                403,000          405,015
CS First Boston Mortgage Securities Corp.,                                      
   Series 2001-CP4, Class A4                                                    
   6.18% due 12/15/2035                                 740,000          768,601

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         
CS First Boston Mortgage Securities Corp.,                                      
   Series 2002-CKN2, Class A3                                                   
   6.133% due 04/15/2037                         $      808,000   $      840,892
CS First Boston Mortgage Securities Corp.,                                      
   Series 2002-CKP1, Class A3                                                   
   6.439% due 12/15/2035                                551,000          579,677
CS First Boston Mortgage Securities Corp.,                                      
   Series 2002-CKS4, Class A2                                                   
   5.183% due 11/15/2036                                638,000          637,269
CS First Boston Mortgage Securities Corp.,                                      
   Series 2002-CP3, Class A3                                                    
   5.603% due 07/15/2035                                324,000          329,841
CS First Boston Mortgage Securities Corp.,                                      
   Series 2003-C4, Class A4                                                     
   5.137% due 08/15/2036 (b)                            208,000          206,306
CS First Boston Mortgage Securities Corp.,                                      
   Series 2004-C5, Class A4                                                     
   4.829% due 11/15/2037                                287,000          277,381
Federal Home Loan Mortgage Corp.,                                               
   Series 1994-1663, Class ZB                                                   
   6.75% due 01/15/2024                                 233,777          240,674
Federal Home Loan Mortgage Corp.,                                               
   Series 2003-2645, Class MK                                                   
   3.50% due 07/15/2022                                 26,000            25,515
Federal Home Loan Mortgage Corp.,                                               
   Series 2003-2708, Class DG                                                   
   5.50% due 07/15/2032                                 789,000          777,023
Federal Home Loan Mortgage Corp.,                                               
   Series 2004-2904, Class CM                                                   
   5.00% due 01/15/2018                                 616,575          612,605
Federal Home Loan Mortgage Corp.,                                               
   Series 2005-2973, Class PX                                                   
   5.50% due 01/15/2035                                 599,412          602,391
Federal Home Loan Mortgage Corp.,                                               
   Series 2005-2975, Class EA                                                   
   5.00% due 05/15/2018                                 289,217          287,355
Federal Home Loan Mortgage Corp.,                                               
   Series 2005-3017, Class TA                                                   
   4.50% due 08/15/2035                                 457,000          441,947
Federal Home Loan Mortgage Corp.,                                               
   Series 2005-3020, Class MA                                                   
   5.50% due 04/15/2027                                 659,198          660,917
Federal Home Loan Mortgage Corp.,                                               
   Series 2005-3026, Class GJ                                                   
   4.50% due 02/15/2029                                 566,912          556,892
Federal Home Loan Mortgage Corp.,                                               
   Series 2005-3026, Class PC                                                   
   4.50% due 01/15/2034                                 313,000          289,816
Federal Home Loan Mortgage Corp.,                                               
   Series 2005-3057, Class MD                                                   
   4.50% due 08/15/2034                                 404,000          375,316
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3135, Class JA                                                   
   6.00% due 09/15/2027                                 791,376          800,072
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3149, Class PB                                                   
   6.00% due 08/15/2029                               1,384,000        1,402,658

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3151, Class LA                                                   
   6.00% due 11/15/2027                          $      832,501   $      841,316
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3159, Class PA                                                   
   6.00% due 05/15/2027                               1,329,960        1,345,303
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3167, Class QA                                                   
   6.00% due 10/15/2026                               2,013,000        2,033,800
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3171, Class MD                                                   
   6.00% due 04/15/2029                                 416,000          422,289
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3172, Class PA                                                   
   6.00% due 04/15/2027                               1,034,715        1,047,512
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3174, Class CA                                                   
   5.50% due 02/15/2026                                 509,449          511,119
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3174, Class DB                                                   
   6.00% due 09/15/2029                                 209,000          211,678
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3174, Class PX                                                   
   5.00% due 06/15/2017                                 335,134          329,983
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3176, Class HA                                                   
   6.00% due 02/15/2028                               1,421,169        1,439,310
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3178, Class MA                                                   
   6.00% due 10/15/2026                                 463,044          468,478
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3179, Class PD                                                   
   5.75% due 12/15/2018                                 748,000          753,575
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3184, Class LA                                                   
   6.00% due 03/15/2028                               1,372,685        1,389,629
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3184, Class PA                                                   
   5.50% due 02/15/2027                               2,807,594        2,815,931
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3185, Class PD                                                   
   4.50% due 01/15/2035                                 259,000          237,447
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3192, Class GA                                                   
   6.00% due 03/15/2027                                 679,165          687,016
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3200, Class EB                                                   
   5.00% due 05/15/2026                                 591,760          587,906
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3215, Class QA                                                   
   6.00% due 06/15/2027                                 654,000          662,584
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3216, Class NA                                                   
   6.00% due 05/15/2028                               1,047,000        1,059,883
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3218, Class BA                                                   
   6.00% due 04/15/2027                                 719,000          727,707

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         
Federal National Mortgage Association,                                          
   Series 2002-T11, Class A                                                     
   4.768% due 04/25/2012                         $       47,864   $       47,561
Federal National Mortgage Association,                                          
   Series 2003-34, Class QJ                                                     
   4.50% due 01/25/2016 ***                           1,520,367        1,495,174
Federal National Mortgage Association,                                          
   Series 2003-76, Class DE                                                     
   4.00% due 09/25/2031 ***                           1,282,036        1,211,899
Federal National Mortgage Association,                                          
   Series 2003-84, Class GD                                                     
   4.50% due 03/25/2017                                 416,000          402,259
Federal National Mortgage Association,                                          
   Series 2003-T1, Class A                                                      
   3.807% due 11/25/2012                                144,798          139,656
Federal National Mortgage Association,                                          
   Series 2005-3, Class HC                                                      
   4.50% due 01/25/2035                                 388,542          376,572
Federal National Mortgage Association,                                          
   Series 2005-38, Class CD                                                     
   5.00% due 06/25/2019                                 384,885          381,596
Federal National Mortgage Association,                                          
   Series 2005-45, Class BA                                                     
   4.50% due 11/25/2014                               1,142,244        1,131,322
Federal National Mortgage Association,                                          
   Series 2005-63, Class HA                                                     
   5.00% due 04/25/2023                                 866,934          856,279
Federal National Mortgage Association,                                          
   Series 2005-77, Class BX                                                     
   4.50% due 07/25/2028                                 234,059          230,487
Federal National Mortgage Association,                                          
   Series 2006-18, Class PA                                                     
   5.50% due 01/25/2026                                 460,000          460,739
Federal National Mortgage Association,                                          
   Series 2006-29, Class PA                                                     
   5.50% due 08/25/2026                               1,023,000        1,024,462
Federal National Mortgage Association,                                          
   Series 2006-31, Class PA                                                     
   5.50% due 11/25/2026                                 453,000          454,214
Federal National Mortgage Association,                                          
   Series 2006-34, Class PA                                                     
   6.00% due 05/25/2027                                 934,498          942,022
Federal National Mortgage Association,                                          
   Series 2006-41, Class MA                                                     
   5.50% due 04/25/2024                                 471,000          471,681
Federal National Mortgage Association,                                          
   Series 2006-53, Class PA                                                     
   5.50% due 12/25/2026                                 144,000          144,368
Federal National Mortgage Association,                                          
   Series 2006-55, Class PA                                                     
   6.00% due 05/25/2026                                 556,497          561,488
Federal National Mortgage Association,                                          
   Series 2006-80, Class PB                                                     
   6.00% due 10/25/2027                                 987,134          998,010
Federal National Mortgage Association,                                          
   Series 2006-99, Class PA                                                     
   5.50% due 05/25/2030                               1,446,000        1,446,113

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         
First Union National Bank Commercial                                            
   Mortgage, Series 2001-C4, Class B                                            
   6.417% due 12/12/2033                         $      177,000   $      186,342
GE Capital Commercial Mortgage Corp.,                                           
   Series 2001-3, Class A2                                                      
   6.07% due 06/10/2038                                 969,000        1,006,602
GE Capital Commercial Mortgage Corp.,                                           
   Series 2002-2A, Class A3                                                     
   5.349% due 08/11/2036                                559,000          562,366
GE Capital Commercial Mortgage Corp.,                                           
   Series 2002-3A, Class A2                                                     
   4.996% due 12/10/2037                                421,000          416,920
GE Capital Commercial Mortgage Corp.,                                           
   Series 2003-C2, Class A4                                                     
   5.145% due 07/10/2037                                812,000          806,921
GE Capital Commercial Mortgage Corp.,                                           
   Series 2004-C3, Class A4                                                     
   5.189% due 07/10/2039 (b)                            869,000          856,271
GMAC Commercial Mortgage Securities, Inc.,                                      
   Series 2002-C3, Class A2                                                     
   4.93% due 07/10/2039                                 126,000          124,167
GMAC Commercial Mortgage Securities, Inc.,                                      
   Series 2003-C2, Class B                                                      
   5.2999% due 05/10/2040 (b)                           303,000          306,789
GMAC Commercial Mortgage Securities, Inc.,                                      
   Series 2003-C3, Class A4                                                     
   5.023% due 04/10/2040                              1,074,000        1,057,608
GMAC Commercial Mortgage Securities, Inc.,                                      
   Series 2004-C1, Class A1                                                     
   3.118% due 03/10/2038                                239,108          232,820
Government National Mortgage Association,                                       
   Series 2006-3, Class A                                                       
   4.212% due 01/16/2028                                112,122          109,522
Government National Mortgage Association,                                       
   Series 2006-32, Class A                                                      
   5.079% due 01/16/2030                                317,408          316,359
Government National Mortgage Association,                                       
   Series 2006-8, Class A                                                       
   3.942% due 08/16/2025                                180,391          175,728
GS Mortgage Securities Corp. II,                                                
   Series 1998-C1, Class B                                                      
   6.97% due 10/18/2030                                 401,000          412,700
GS Mortgage Securities Corp. II,                                                
   Series 1998-GLII, Class A2                                                   
   6.562% due 04/13/2031                                856,000          869,220
JP Morgan Chase Commercial Mortgage                                             
   Securities Corp., Series 2003-CB7,                                           
   Class A4                                                                     
   4.879% due 01/12/2038 (b)                            292,000          284,965
JP Morgan Chase Commercial Mortgage                                             
   Securities Corp., Series 2003-ML1A,                                          
   Class A2                                                                     
   4.767% due 03/12/2039                                507,000          493,124
JP Morgan Chase Commercial Mortgage                                             
   Securities Corp., Series 2004-C3,                                            
   Class A1                                                                     
   3.765% due 01/15/2042                                875,906          855,881
JP Morgan Chase Commercial Mortgage                                             
   Securities Corp., Series 2005-CB11,                                          
   Class A4                                                                     
   5.335% due 08/12/2037 (b)                            430,000          429,325

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         
JP Morgan Chase Commercial Mortgage                                             
   Securities Corp., Series 2006-CB16,                                          
   Class A4                                                                     
   5.552% due 05/12/2045                         $      359,000   $      363,938
JP Morgan Chase Commercial Mortgage                                             
   Securities Corp., Series 2006-LDP8,                                          
   Class ASB                                                                    
   5.369% due 05/15/2045 (b)                            216,000          217,078
LB Commercial Conduit Mortgage Trust,                                           
   Series 1999-C2, Class A1                                                     
   7.105% due 10/15/2032                                 20,334           20,421
LB-UBS Commercial Mortgage Trust,                                               
   Series 2003-C7, Class A4                                                     
   4.931% due 09/15/2035 (b)                            751,000          738,219
LB-UBS Commercial Mortgage Trust,                                               
   Series 2006-C6, Class AM                                                     
   5.47% due 09/15/2039                                 216,000          217,070
Merrill Lynch Mortgage Trust,                                                   
   Series 2002-MW1, Class A4                                                    
   5.619% due 07/12/2034                                554,000          564,295
Merrill Lynch Mortgage Trust,                                                   
   Series 2004-KEY2, Class A4                                                   
   4.864% due 08/12/2039 (b)                            399,000          386,412
Merrill Lynch/Countrywide Commercial                                            
   Mortgage Trust, Series 2006-3, Class AM                                      
   5.456% due 07/12/2046 (b)                            230,000          231,559
Morgan Stanley Capital I, Series 2003-IQ5,                                      
   Class A4                                                                     
   5.01% due 04/15/2038                                 501,000          493,973
Morgan Stanley Capital I, Series 2003-T11,                                      
   Class A4                                                                     
   5.15% due 06/13/2041                                 223,000          221,489
Morgan Stanley Capital I,                                                       
   Series 2004-HQ4, Class A2                                                    
   3.92% due 04/14/2040                                 192,971          189,626
Morgan Stanley Capital I,                                                       
   Series 2005-HQ5, Class AAB                                                   
   5.037% due 01/14/2042                                175,000          172,918
Morgan Stanley Dean Witter Capital I,                                           
   Series 2002-IQ3, Class A4                                                    
   5.08% due 09/15/2037                                 677,000          670,345
Salomon Brothers Mortgage Securities VII,                                       
   Series 2001-C2, Class A3                                                     
   6.499% due 10/13/2011                                330,000          347,482
Vendee Mortgage Trust, Series 1994-1,                                           
   Class 2ZB                                                                    
   6.50% due 02/15/2024                                 766,404          794,595
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2002-C1, Class A4                                                     
   6.287% due 04/15/2034                                337,000          353,625
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2002-C2, Class A4                                                     
   4.98% due 11/15/2034                                 277,000          273,294
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2003-C6, Class A3                                                     
   4.957% due 08/15/2035                                232,000          229,641
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2003-C6, Class A4                                                     
   5.125% due 08/15/2035                                274,000          271,389
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2003-C8, Class A3                                                     
   4.445% due 11/15/2035                                174,000          169,585

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2003-C9, Class A4                                                     
   5.012% due 12/15/2035                         $      131,000   $      128,714
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2004-C10, Class A4                                                    
   4.748% due 02/15/2041                                478,000          461,570
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2004-C14, Class A4                                                    
   5.088% due 08/15/2041 (b)                            484,000          476,585
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2004-C15, Class A4                                                    
   4.803% due 10/15/2041                                329,000          317,215
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2005-C20, Class APB                                                   
   5.09% due 07/15/2042 (b)                             692,000          683,657
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2006-C23, Class AM                                                    
   5.466% due 01/15/2045 (b)                            861,000          864,900
Wachovia Bank Commercial Mortgage Trust,                                        
   Series 2006-C26, Class APB                                                   
   5.997% due 06/15/2045                                482,000          501,253
Wachovia Mortgage Loan Trust LLC,                                               
   Series 2006-AMN1, Class A1                                                   
   5.38% due 08/25/2036 (b)                             291,256          290,730
                                                                  --------------
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                       
(Cost $65,049,931)                                                $   65,314,369
                                                                  --------------
ASSET BACKED SECURITIES - 8.44%                                                 
AmeriCredit Automobile Receivables Trust,                                       
   Series 2003-DM, Class A4                                                     
   2.84% due 08/06/2010                                 338,996          334,230
Ameriquest Mortgage Securities Inc.,                                            
   Series 2004-R12, Class A3                                                    
   4.6588% due 01/25/2035                               200,262          200,420
Capital Auto Receivables Asset Trust,                                           
   Series 2004-1, Class A3                                                      
   2.00% due 11/15/2007                                  64,151           63,842
Capital Auto Receivables Asset Trust,                                           
   Series 2006-1, Class A3                                                      
   5.03% due 10/15/2009                                 249,000          248,611
Capital One Multi-Asset Execution Trust,                                        
   Series 2003-C4, Class C4                                                     
   6.00% due 08/15/2013                                 354,000          362,455
Capital One Multi-Asset Execution Trust,                                        
   Series 2006-A10, Class A10                                                   
   5.15% due 06/15/2014                                 281,000          282,976
Capital One Prime Auto Receivables Trust,                                       
   Series 2006-1, Class A3                                                      
   5.04% due 09/15/2010                                 322,000          321,580
Carmax Auto Owner Trust, Series 2006-2,                                         
   Class A3                                                                     
   5.15% due 02/15/2011                                 574,000          575,525
Carrington Mortgage Loan Trust,                                                 
   Series 2005-NC3, Class A1B                                                   
   5.49% due 06/25/2035 (b)                             249,175          249,231
Chase Credit Card Master Trust,                                                 
   Series 2003-3, Class A                                                       
   5.43% due 10/15/2010 (b)                             346,000          346,634

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
ASSET BACKED SECURITIES (CONTINUED)                                             
Chase Issuance Trust, Series 2004-A9,                                           
   Class A9                                                                     
   3.22% due 06/15/2010                          $      434,000   $      425,397
Chase Issuance Trust, Series 2006-A3,                                           
   Class A3                                                                     
   5.31% due 07/15/2011 (b)                             497,000          497,156
Citibank Credit Card Issuance Trust,                                            
   Series 2000-A3, Class A3                                                     
   6.875% due 11/16/2009                                183,000          186,305
Citibank Credit Card Issuance Trust,                                            
   Series 2004-A4, Class A4                                                     
   3.20% due 08/24/2009                                 509,000          499,774
Citibank Credit Card Issuance Trust,                                            
   Series 2006-A4, Class A4                                                     
   5.45% due 05/10/2013                                 397,000          403,886
Citicorp Residential Mortgage Securities                                        
   Inc, Series 2006-1, Class A2                                                 
   5.682% due 07/25/2036                                280,000          280,954
Countrywide Asset-Backed Certificates,                                          
   Series 2005-12, Class 1A1                                                    
   5.48% due 02/25/2036 (b)                             117,272          117,292
Countrywide Asset-Backed Certificates,                                          
   Series 2005-BC4, Class 2A1                                                   
   5.45% due 08/25/2035 (b)                              64,954           64,966
Countrywide Asset-Backed Certificates,                                          
   Series 2006-11, Class 3AV1                                                   
   5.39% due 09/25/2046 (b)                             367,651          367,651
Countrywide Asset-Backed Certificates,                                          
   Series 2006-13, Class 3AV2                                                   
   5.48% due 01/25/2037 (b)                             345,000          344,892
Countrywide Asset-Backed Certificates,                                          
   Series 2006-ABC1, Class A1                                                   
   5.36% due 05/25/2036 (b)                             328,514          328,411
Countrywide Asset-Backed Certificates,                                          
   Series 2006-S1, Class A2                                                     
   5.549% due 08/25/2021                                516,000          515,113
Encore Credit Receivables Trust,                                                
   Series 2005-3, Class 2A1                                                     
   5.45% due 10/25/2035 (b)                              38,937           38,941
Ford Credit Auto Owner Trust,                                                   
   Series 2005-A, Class A3                                                      
   3.48% due 11/15/2008                                 413,616          410,317
Ford Credit Auto Owner Trust,                                                   
   Series 2005-B, Class A3                                                      
   4.17% due 01/15/2009                                 289,590          287,769
Ford Credit Auto Owner Trust,                                                   
   Series 2006-B, Class A4                                                      
   5.25% due 09/15/2011                                 463,000          465,966
Franklin Auto Trust, Series 2005-1, Class A2                                    
   4.84% due 09/22/2008                                  52,403           52,362
GE Capital Credit Card Master Note Trust,                                       
   Series 2006-1, Class A                                                       
   5.08% due 09/17/2012                                 475,000          477,449
Harley-Davidson Motorcycle Trust,                                               
   Series 2006-2, Class A2                                                      
   5.35% due 03/15/2013                                 135,000          136,118
Honda Auto Receivables Owner Trust,                                             
   Series 2004-2, Class A3                                                      
   3.30% due 06/16/2008                                 379,332          376,618

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
ASSET BACKED SECURITIES (CONTINUED)                                             
Household Credit Card Master Note Trust I,                                      
   Series 2006-1, Class A                                                       
   5.10% due 06/15/2012                          $      718,000   $      722,039
Hyundai Auto Receivables Trust,                                                 
   Series 2005-A, Class A4                                                      
   4.18% due 02/15/2012                                 258,000          252,251
M.A.S.Transactions Asset Backed Securities                                      
   Trust, Series 2004-OPT2, Class A2                                            
   5.68% due 09/25/2034 (b)                              30,706           30,748
M.A.S.Transactions Asset Backed Securities                                      
   Trust, Series 2005-AB1, Class A1B                                            
   5.143% due 11/25/2035 (b)                            160,278          159,376
MBNA Master Credit Card Trust USA,                                              
   Series 2000-L, Class A                                                       
   6.50% due 04/15/2010                                 284,000          288,399
Merrill Lynch Mortgage Investors Inc.,                                          
   Series 2005-SD1, Class A1                                                    
   5.51% due 05/25/2046 (b)                              87,907           87,922
Morgan Stanley ABS Capital I,                                                   
   Series 2004-WMC2, Class A2                                                   
   5.69% due 07/25/2034 (b)                              39,633           39,633
Morgan Stanley ABS Capital I,                                                   
   Series 2006-NC1, Class A1                                                    
   5.41% due 12/25/2035 (b)                             587,948          587,977
Morgan Stanley Home Equity Loans,                                               
   Series 2006-2, Class A2                                                      
   5.44% due 02/25/2036 (b)                             205,000          204,936
Nissan Auto Lease Trust, Series 2005-A,                                         
   Class A2                                                                     
   4.61% due 01/15/2008                                  91,454           91,339
Nissan Auto Receivables Owner Trust,                                            
   Series 2005-B, Class A2                                                      
   3.75% due 09/17/2007                                  12,742           12,734
Nissan Auto Receivables Owner Trust,                                            
   Series 2006-B, Class A3                                                      
   5.16% due 02/15/2010                                 145,000          145,113
Nomura Home Equity Loan Inc.,                                                   
   Series 2006-WF1, Class A1                                                    
   5.3894% due 03/25/2036 (b)                           301,655          301,655
Northstar Education Finance, Inc.,                                              
   Series 2005-1, Class A5                                                      
   3.98% due 10/28/2045                                 195,000          192,956
Novastar Home Equity Loan,                                                      
   Series 2005-2, Class A2B                                                     
   5.48% due 10/25/2035 (b)                             247,659          247,713
Option One Mortgage Loan Trust,                                                 
   Series 2006-1, Class 2A1                                                     
   5.40% due 01/25/2036 (b)                             212,417          212,455
Ownit Mortgage Loan Asset-Backed                                                
   Certificates, Series 2006-1, Class AF1                                       
   5.424% due 12/25/2036                                139,708          139,053
Peco Energy Transition Trust,                                                   
   Series 2001-A, Class A1                                                      
   6.52% due 12/31/2010                                 162,000          169,712
PG&E Energy Recovery Funding LLC,                                               
   Series 2005-2, Class A2                                                      
   5.03% due 03/25/2014                                 393,000          393,264

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
ASSET BACKED SECURITIES (CONTINUED)                                             
SLM Student Loan Trust, Series 2004-1,                                          
   Class A2                                                                     
   5.625% due 07/25/2018 (b)                     $      264,000   $      265,111
Structured Asset Investment Loan Trust,                                         
   Series 2005-11, Class A4                                                     
   5.42% due 01/25/2036 (b)                             204,267          204,293
Triad Auto Receivables Owner Trust,                                             
   Series 2003-B, Class A4                                                      
   3.20% due 12/13/2010                                 119,605          117,498
USAA Auto Owner Trust, Series 2004-3,                                           
   Class A3                                                                     
   3.16% due 02/17/2009                                 133,369          132,171
USAA Auto Owner Trust, Series 2005-1,                                           
   Class A3                                                                     
   3.90% due 07/15/2009                                  74,854           74,202
USAA Auto Owner Trust, Series 2005-3,                                           
   Class A2                                                                     
   4.52% due 06/16/2008                                 120,604          120,359
USAA Auto Owner Trust, Series 2006-3,                                           
   Class A4                                                                     
   5.36% due 06/15/2012                                 236,000          238,618
Volkswagen Auto Lease Trust,                                                    
   Series 2006-A, Class A2                                                      
   5.55% due 11/20/2008                                 290,000          290,952
Wachovia Auto Loan Owner Trust,                                                 
   Series 2006-1, Class A3                                                      
   5.10% due 07/20/2011                                 315,000          314,945
Wachovia Auto Owner Trust,                                                      
   Series 2004-A, Class A4                                                      
   3.66% due 07/20/2010                                 560,000          551,940
Wachovia Auto Owner Trust,                                                      
   Series 2005-B, Class A2                                                      
   4.82% due 02/20/2009                                 229,847          229,416
Washington Mutual Master Note Trust,                                            
   Series 2006-M1A, Class M1                                                    
   5.41% due 08/15/2013 (b)                             536,000          536,586
WFS Financial Owner Trust,                                                      
   Series 2003-1, Class A4                                                      
   2.74% due 09/20/2010                                  39,280           39,028
WFS Financial Owner Trust,                                                      
   Series 2003-3, Class A4                                                      
   3.25% due 05/20/2011                                 189,641          187,188
WFS Financial Owner Trust,                                                      
   Series 2003-4, Class A4                                                      
   3.15% due 05/20/2011                                  64,136           63,219
WFS Financial Owner Trust,                                                      
   Series 2004-1, Class A4                                                      
   2.81% due 08/22/2011                                 131,034          128,346
WFS Financial Owner Trust,                                                      
   Series 2005-3, Class A3A                                                     
   4.25% due 06/17/2010                                 110,000          109,113
                                                                  --------------
TOTAL ASSET BACKED SECURITIES                                                   
(Cost $17,128,401)                                                $   17,145,101
                                                                  --------------
SHORT TERM INVESTMENTS - 11.60%                                                 
Federal Home Loan Mortgage Corp.                                                
   Discount Notes zero coupon due 06/26/2007     $    1,307,000   $    1,255,560
Rabobank USA Finance Corp.                                                      
   5.35% due 10/02/2006                               3,005,000        3,004,554
State Street Navigator Securities Lending                                       
   Prime Portfolio (c)                               16,298,154       16,298,154

CORE BOND TRUST (CONTINUED)                                                     

                                                                [Download Table]

                                                  SHARES OR                    
                                              PRINCIPAL AMOUNT       VALUE     
                                              ----------------  -------------- 
                                                                               
SHORT TERM INVESTMENTS (CONTINUED)                                             
UBS Finance (Delaware) LLC                                                     
   5.34% due 10/02/2006                         $    3,005,000  $    3,004,554 
                                                                -------------- 
TOTAL SHORT TERM INVESTMENTS                                                   
(Cost $23,562,822)                                              $   23,562,822 
                                                                -------------- 
REPURCHASE AGREEMENTS - 3.88%                                                  
Repurchase Agreement with State                                                
   Street Corp. dated 09/29/2006 at 3.95% to                                   
   be repurchased at $7,872,591 on                                             
   10/02/2006, collateralized by                                               
   $7,585,000 Federal National Mortgage                                        
   Association, 6.125% due 03/15/2012                                          
   (valued at $8,030,619, including                                            
   interest) (c)***                             $    7,870,000  $    7,870,000 
                                                                -------------- 
TOTAL REPURCHASE AGREEMENTS                                                    
(Cost $7,870,000)                                               $    7,870,000 
                                                                -------------- 
TOTAL INVESTMENTS (CORE BOND TRUST)                                            
   (COST $240,728,976) - 119.07%                                $  241,811,076 
LIABILITIES IN EXCESS OF OTHER ASSETS -                                        
   (19.07)%                                                        (38,722,453)
                                                                -------------- 
TOTAL NET ASSETS - 100.00%                                      $  203,088,623 
                                                                ============== 

CORE EQUITY TRUST                                                               

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 98.98%                                                          

ADVERTISING - 1.42%                                                             
WPP Group PLC                                           544,900   $    6,751,132

APPAREL & TEXTILES - 1.26%                                                      
NIKE, Inc., Class B                                      68,100        5,966,922

BUILDING MATERIALS & CONSTRUCTION - 0.55%                                       
Masco Corp.                                              95,086        2,607,258

CABLE AND TELEVISION - 5.23%                                                    
DIRECTV Group, Inc. *                                   710,900       13,990,512
Time Warner, Inc.                                       594,900       10,845,027
                                                                  --------------
                                                                      24,835,539
COMPUTERS & BUSINESS EQUIPMENT - 7.41%                                          
Cisco Systems, Inc. *                                   296,500        6,819,500
Dell, Inc. *                                            328,300        7,498,372
Hewlett-Packard Company                                 209,400        7,682,886
International Business Machines Corp.                    73,800        6,047,172
Seagate Technology *                                    308,600        7,125,574
                                                                  --------------
                                                                      35,173,504
ELECTRICAL UTILITIES - 5.04%                                                    
The AES Corp. *                                       1,172,800       23,913,392

FINANCIAL SERVICES - 12.16%                                                     
Capital One Financial Corp.                             109,500        8,613,270
Citigroup, Inc.                                         259,000       12,864,530
Countrywide Financial Corp.                             413,300       14,482,032

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

CORE EQUITY TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

FINANCIAL SERVICES (CONTINUED)                                                  
JPMorgan Chase & Company                                463,900   $   21,784,744
                                                                  --------------
                                                                      57,744,576
HEALTHCARE SERVICES - 6.85%                                                     
Health Net, Inc. *                                      244,600       10,644,992
UnitedHealth Group, Inc.                                444,600       21,874,320
                                                                  --------------
                                                                      32,519,312
HOLDINGS COMPANIES/CONGLOMERATES - 1.44%                                        
General Electric Company                                193,400        6,827,020

HOMEBUILDERS - 4.30%                                                            
Beazer Homes USA, Inc. (a)                               51,800        2,022,272
Centex Corp.                                            147,590        7,766,186
Pulte Homes, Inc.                                       258,000        8,219,880
Ryland Group, Inc. (a)                                   56,075        2,423,001
                                                                  --------------
                                                                      20,431,339
INSURANCE - 5.91%                                                               
Aetna, Inc.                                             389,300       15,396,815
American International Group, Inc.                      162,100       10,740,746
St. Paul Travelers Companies, Inc.                       40,700        1,908,423
                                                                  --------------
                                                                      28,045,984
INTERNET RETAIL - 10.84%                                                        
Amazon.com, Inc. * (a)                                  581,000       18,661,720
eBay, Inc. *                                            445,100       12,623,036
Expedia, Inc. *                                         472,116        7,402,779
IAC/InterActiveCorp. * (a)                              444,100       12,772,316
                                                                  --------------
                                                                      51,459,851
INTERNET SERVICE PROVIDER - 6.68%                                               
Google, Inc., Class A *                                  49,500       19,894,050
Yahoo!, Inc. *                                          467,600       11,820,928
                                                                  --------------
                                                                      31,714,978
INTERNET SOFTWARE - 0.30%                                                       
Symantec Corp. *                                         66,700        1,419,376

LEISURE TIME - 1.86%                                                            
Electronic Arts, Inc. *                                 158,700        8,836,416

MANUFACTURING - 5.25%                                                           
Tyco International, Ltd.                                891,200       24,944,688

PHARMACEUTICALS - 1.89%                                                         
Pfizer, Inc.                                            316,515        8,976,365

PHOTOGRAPHY - 2.68%                                                             
Eastman Kodak Company (a)                               567,500       12,712,000

RETAIL TRADE - 6.27%                                                            
Home Depot, Inc.                                        291,700       10,579,959
Sears Holdings Corp. *                                  121,300       19,176,317
                                                                  --------------
                                                                      29,756,276
SANITARY SERVICES - 0.64%                                                       
Waste Management, Inc.                                   82,700        3,033,436

SOFTWARE - 1.04%                                                                
CA, Inc.                                                207,575        4,917,452

CORE EQUITY TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                             SHARES OR                    
                                         PRINCIPAL AMOUNT       VALUE     
                                         ----------------  -------------- 
                                                                          
COMMON STOCKS (CONTINUED)                                                 

TELEPHONE - 9.96%                                                         
Qwest Communications International,                                       
   Inc. * (a)                                   2,705,900  $   23,595,448 
Sprint Nextel Corp.                             1,379,700      23,661,855 
                                                           -------------- 
                                                               47,257,303 
                                                           -------------- 
TOTAL COMMON STOCKS (Cost $452,206,190)                    $  469,844,119 
                                                           -------------- 
SHORT TERM INVESTMENTS - 9.22%                                            
State Street Navigator Securities                                         
   Lending Prime Portfolio (c)               $ 43,740,871  $   43,740,871 
                                                           -------------- 
TOTAL SHORT TERM INVESTMENTS                                              
(Cost $43,740,871)                                         $   43,740,871 
                                                           -------------- 
REPURCHASE AGREEMENTS - 0.89%                                             
Repurchase Agreement with State                                           
   Street Corp. dated 09/29/2006 at                                       
   3.95% to be repurchased at                                             
   $4,236,394 on 10/2/2006,                                               
   collateralized by $3,980,000                                           
   Federal National Mortgage                                              
   Association, 7.25% due                                                 
   01/15/2010 (valued at $4,323,275,                                      
   including interest) (c)                   $  4,235,000  $    4,235,000 
                                                           -------------- 
TOTAL REPURCHASE AGREEMENTS                                               
(Cost $4,235,000)                                          $    4,235,000 
                                                           -------------- 
TOTAL INVESTMENTS (CORE EQUITY TRUST)                                     
   (COST $500,182,061) - 109.09%                           $  517,819,990 

LIABILITIES IN EXCESS OF OTHER ASSETS                                     
   - (9.09)%                                                  (43,145,291)
                                                           -------------- 
TOTAL NET ASSETS - 100.00%                                 $  474,674,699 
                                                           ============== 

DYNAMIC GROWTH TRUST                                                            

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 98.04%                                                          

APPAREL & TEXTILES - 9.64%                                                      
Coach, Inc. *                                           161,300   $    5,548,720
Guess?, Inc. * (a)                                       50,900        2,470,177
Polo Ralph Lauren Corp., Class A                         96,400        6,236,116
                                                                  --------------
                                                                      14,255,013
CELLULAR COMMUNICATIONS - 1.69%                                                 
NII Holdings, Inc. *                                     40,200        2,498,832

COAL - 1.88%                                                                    
Peabody Energy Corp.                                     75,700        2,784,246

COMPUTERS & BUSINESS EQUIPMENT - 4.05%                                          
Cognizant Technology Solutions Corp.,                                           
   Class A  *                                            31,900        2,362,514
Network Appliance, Inc. *                                97,800        3,619,578
                                                                  --------------
                                                                       5,982,092
CONSTRUCTION & MINING EQUIPMENT - 2.84%                                         
Joy Global, Inc.                                         62,750        2,360,028

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

DYNAMIC GROWTH TRUST (CONTINUED)                                                

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

CONSTRUCTION & MINING EQUIPMENT (CONTINUED)                                     
Rowan Companies, Inc. (a)                                58,400   $    1,847,192
                                                                  --------------
                                                                       4,207,220
DRUGS & HEALTH CARE - 2.19%                                                     
Mentor Corp. (a)                                         64,400        3,245,116

ELECTRICAL EQUIPMENT - 3.60%                                                    
Molex, Inc.                                             100,500        3,307,455
Wesco International, Inc. *                              34,700        2,013,641
                                                                  --------------
                                                                       5,321,096
ENERGY - 1.92%                                                                  
Southwestern Energy Company *                            95,100        2,840,637

FINANCIAL SERVICES - 13.80%                                                     
Affiliated Managers Group, Inc. * (a)                    56,900        5,696,259
E*TRADE Financial Corp. *                               217,700        5,207,384
Jefferies Group, Inc.                                   118,300        3,371,550
Nasdaq Stock Market, Inc. * (a)                         101,000        3,054,240
Nuveen Investments, Class A (a)                          60,000        3,073,800
                                                                  --------------
                                                                      20,403,233
GAS & PIPELINE UTILITIES - 2.39%                                                
Ultra Petroleum Corp. * (a)                              73,600        3,540,896

HEALTHCARE PRODUCTS - 8.32%                                                     
C.R. Bard, Inc.                                          21,900        1,642,500
Fisher Scientific International, Inc. *                  49,000        3,833,760
Herbalife, Ltd. *                                        89,400        3,386,472
Hologic, Inc. * (a)                                      38,600        1,679,872
The Cooper Companies, Inc.                               32,900        1,760,150
                                                                  --------------
                                                                      12,302,754
HEALTHCARE SERVICES - 8.74%                                                     
Amerigroup Corp. *                                      129,100        3,814,905
Cerner Corp. * (a)                                       75,500        3,427,700
DaVita, Inc. *                                           46,400        2,685,168
Pediatrix Medical Group, Inc. *                          65,600        2,991,360
                                                                  --------------
                                                                      12,919,133
HOTELS & RESTAURANTS - 1.82%                                                    
The Cheesecake Factory, Inc. * (a)                       99,200        2,697,248

HOUSEHOLD PRODUCTS - 2.01%                                                      
Jarden Corp. * (a)                                       90,000        2,967,300

INDUSTRIAL MACHINERY - 2.78%                                                    
Terex Corp. *                                            90,900        4,110,498

INTERNATIONAL OIL - 1.93%                                                       
Noble Corp.                                              44,400        2,849,592

INTERNET RETAIL - 1.87%                                                         
Nutri/System, Inc. * (a)                                 44,400        2,765,676

INTERNET SOFTWARE - 6.08%                                                       
Akamai Technologies, Inc. *                             116,500        5,823,835
F5 Networks, Inc. *                                      59,000        3,169,480
                                                                  --------------
                                                                       8,993,315

DYNAMIC GROWTH TRUST (CONTINUED)                                                

                                                                [Download Table]

                                                 SHARES OR                    
                                             PRINCIPAL AMOUNT       VALUE     
                                             ----------------  -------------- 
                                                                              
COMMON STOCKS (CONTINUED)                                                     

LEISURE TIME - 0.98%                                                          
Station Casinos, Inc. (a)                              25,100  $    1,451,533 

MANUFACTURING - 2.67%                                                         
Roper Industries, Inc.                                 88,400       3,955,016 

PETROLEUM SERVICES - 1.00%                                                    
BJ Services Company                                    49,000       1,476,370 

PHARMACEUTICALS - 1.05%                                                       
Celgene Corp. * (a)                                    35,900       1,554,470 

RETAIL TRADE - 5.91%                                                          
Abercrombie & Fitch Company, Class A                   27,600       1,917,648 
Chico's FAS, Inc. * (a)                               121,700       2,620,201 
Urban Outfitters, Inc. * (a)                          237,600       4,203,144 
                                                               -------------- 
                                                                    8,740,993 
SEMICONDUCTORS - 3.16%                                                        
MEMC Electronic Materials, Inc. *                     127,500       4,670,325 

TELECOMMUNICATIONS EQUIPMENT & SERVICES                                       
   - 2.52%                                                                    
Comverse Technology, Inc. *                           174,000       3,730,560 

TRUCKING & FREIGHT - 3.20%                                                    
Oshkosh Truck Corp.                                    93,900       4,739,133 
                                                               -------------- 
TOTAL COMMON STOCKS (Cost $114,569,680)                        $  145,002,297 
                                                               -------------- 
SHORT TERM INVESTMENTS - 25.20%                                               
State Street Navigator Securities                                             
   Lending Prime Portfolio (c)                   $ 37,272,037  $   37,272,037 
                                                               -------------- 
TOTAL SHORT TERM INVESTMENTS                                                  
(Cost $37,272,037)                                             $   37,272,037 
                                                               -------------- 
REPURCHASE AGREEMENTS - 1.85%                                                 
Repurchase Agreement with State                                               
   Street Corp. dated 09/29/2006 at                                           
   3.95% to be repurchased at $2,733,900 on                                   
   10/2/2006, collateralized by $2,955,000                                    
   Federal National Mortgage Association,                                     
   5.70% due 03/27/2023 (valued at                                            
   $2,792,040, including interest) (c)           $  2,733,000  $    2,733,000 
                                                               -------------- 
TOTAL REPURCHASE AGREEMENTS                                                   
   (Cost $2,733,000)                                           $    2,733,000 
                                                               -------------- 
TOTAL INVESTMENTS (DYNAMIC GROWTH TRUST)                                      
   (COST $154,574,717) - 125.09%                               $  185,007,334 
LIABILITIES IN EXCESS OF OTHER ASSETS                                         
   - (25.09)%                                                     (37,109,006)
                                                               -------------- 
TOTAL NET ASSETS - 100.00%                                     $  147,898,328 
                                                               ============== 

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

EMERGING GROWTH TRUST                                                           

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 100.25%                                                         

ADVERTISING - 1.66%                                                             
Aquantive, Inc. *                                        19,100   $      451,142

AEROSPACE - 1.68%                                                               
ARGON ST, Inc. *                                         19,080          457,348

AUTOMOBILES - 1.09%                                                             
Force Protection, Inc. *                                 35,300          295,461

BANKING - 5.84%                                                                 
Boston Private Financial Holdings, Inc.                  11,200          312,256
IBERIABANK Corp.                                          5,150          314,150
UCBH Holdings, Inc.                                       7,000          122,220
Umpqua Holdings Corp.                                    16,320          466,752
Wintrust Financial Corp.                                  7,386          370,408
                                                                  --------------
                                                                       1,585,786
BIOTECHNOLOGY - 1.56%                                                           
Martek Biosciences Corp. *                               19,650          422,672

BUILDINGS - 0.75%                                                               
Modtech Holdings, Inc. *                                 36,450          202,662

BUSINESS SERVICES - 6.15%                                                       
Access Integrated Technologies, Inc. *                   23,950          226,807
Barrett Business Services, Inc. *                        15,800          339,226
Euronet Worldwide, Inc. *                                25,350          622,342
FTI Consulting, Inc. *                                   19,250          482,405
                                                                  --------------
                                                                       1,670,780
CHEMICALS - 0.54%                                                               
American Vanguard Corp.                                  10,500          147,000

COMMERCIAL SERVICES - 2.06%                                                     
Color Kinetics, Inc. *                                   18,750          318,375
Stantec, Inc. *                                          13,200          242,616
                                                                  --------------
                                                                         560,991
COMPUTERS & BUSINESS EQUIPMENT - 5.46%                                          
Lasercard Corp. *                                        28,200          367,728
Stratasys, Inc. *                                        13,750          363,137
Trident Microsystems, Inc. *                             32,350          752,461
                                                                  --------------
                                                                       1,483,326
CONSTRUCTION MATERIALS - 1.00%                                                  
Simpson Manufacturing, Inc.                              10,100          273,003

CORRECTIONAL FACILITIES - 0.97%                                                 
Corrections Corp. of America *                            6,125          264,906

DRUGS & HEALTH CARE - 2.05%                                                     
Healthextras, Inc. *                                      9,550          270,360
Matrixx Initiatives, Inc. *                              15,000          285,450
                                                                  --------------
                                                                         555,810
ELECTRONICS - 5.18%                                                             
Measurement Specialties, Inc. *                          16,000          298,400
Medis Technologies, Ltd. *                               27,550          680,761
Supertex, Inc. *                                         11,000          427,570
                                                                  --------------
                                                                       1,406,731
ENERGY - 3.79%                                                                  
Headwaters, Inc. *                                       16,600          387,610

EMERGING GROWTH TRUST (CONTINUED)                                               

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

ENERGY (CONTINUED)                                                              
InterOil Corp. *                                         17,750   $      336,007
KFx, Inc. *                                              28,650          306,555
                                                                  --------------
                                                                       1,030,172
FINANCIAL SERVICES - 1.23%                                                      
Waddell & Reed Financial, Inc., Class A                  13,450          332,888

FOOD & BEVERAGES - 0.96%                                                        
Buffalo Wild Wings, Inc. *                                6,850          262,012

HEALTHCARE PRODUCTS - 13.23%                                                    
Adeza Biomedical Corp. *                                 27,600          452,916
Caliper Life Sciences, Inc. *                            35,000          170,800
Cyberonics, Inc. *                                       16,150          283,109
Intralase Corp. *                                        25,766          507,848
Kyphon, Inc. *                                           11,700          437,814
Nuvasive, Inc. *                                         19,200          386,112
ResMed, Inc. *                                           14,000          563,500
Somanetics Corp. *                                       17,500          349,300
SonoSite, Inc. *                                         15,600          443,040
                                                                  --------------
                                                                       3,594,439
HEALTHCARE SERVICES - 0.31%                                                     
Nitromed, Inc. *                                         26,500           84,005

HOTELS & RESTAURANTS - 2.21%                                                    
McCormick & Schmick's Seafood                                                   
   Restaurants, Inc. *                                   15,400          346,346
Texas Roadhouse, Inc., Class A *                         20,600          252,968
                                                                  --------------
                                                                         599,314
HOUSEHOLD PRODUCTS - 2.63%                                                      
iRobot Corp. *                                           21,100          423,266
Select Comfort Corp. *                                   13,300          291,004
                                                                  --------------
                                                                         714,270
INDUSTRIAL MACHINERY - 0.82%                                                    
Quixote Corp.                                            12,450          221,859

INSURANCE - 3.26%                                                               
Infinity Property & Casualty Corp.                       11,650          479,165
ProAssurance Corp. *                                      4,800          236,544
United Fire & Casualty Company                            5,450          170,585
                                                                  --------------
                                                                         886,294
INTERNATIONAL OIL - 0.31%                                                       
ATP Oil & Gas Corp. *                                     2,300           84,962

LEISURE TIME - 4.59%                                                            
Bally Technologies, Inc. *                               24,550          432,080
Imax Corp. *                                             53,700          262,593
Pinnacle Entertainment, Inc. *                            8,800          247,456
Progressive Gaming International Corp. *                 37,050          303,810
                                                                  --------------
                                                                       1,245,939
MANUFACTURING - 2.25%                                                           
Radyne Corp. *                                           11,300          138,312
Raven Industries, Inc.                                   15,800          474,158
                                                                  --------------
                                                                         612,470

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

EMERGING GROWTH TRUST (CONTINUED)                                               

                                                                [Download Table]

                                               SHARES OR                    
                                           PRINCIPAL AMOUNT       VALUE     
                                           ----------------  -------------- 
                                                                            
COMMON STOCKS (CONTINUED)                                                   

MEDICAL-HOSPITALS - 0.90%                                                   
EV3, Inc. *                                          14,350  $      244,094 

OFFICE FURNISHINGS & SUPPLIES - 1.28%                                       
Global Imaging Systems, Inc. *                       15,800         348,706 

PETROLEUM SERVICES - 1.85%                                                  
Superior Energy Services, Inc. *                      8,850         232,401 
TETRA Technologies, Inc. *                           11,150         269,384 
                                                             -------------- 
                                                                    501,785 
PHARMACEUTICALS - 2.80%                                                     
Atherogenics, Inc. *                                 13,400         176,478 
Medicis Pharmaceutical Corp., Class A                18,093         585,309 
                                                             -------------- 
                                                                    761,787 
RETAIL TRADE - 2.47%                                                        
A.C. Moore Arts & Crafts, Inc. *                     19,450         370,133 
Hibbett Sporting Goods, Inc. *                       11,450         299,761 
                                                             -------------- 
                                                                    669,894 
SEMICONDUCTORS - 4.73%                                                      
Actel Corp. *                                        20,900         324,995 
FormFactor, Inc. *                                   15,300         644,589 
Mattson Technology, Inc. *                           38,000         315,400 
                                                             -------------- 
                                                                  1,284,984 
SOFTWARE - 8.59%                                                            
Allscripts Healthcare Solution, Inc. *               19,650         441,142 
Concur Technologies, Inc. *                          29,650         431,408 
Faro Technologies, Inc. *                            23,100         441,210 
Opsware, Inc. *                                      67,600         609,076 
Progress Software Corp. *                            15,795         410,670 
                                                             -------------- 
                                                                  2,333,506 
TELECOMMUNICATIONS EQUIPMENT &                                              
SERVICES - 1.74%                                                            
Comtech Telecommunications Corp. *                   14,100         472,068 

TRUCKING & FREIGHT - 4.31%                                                  
Celadon Group, Inc. *                                25,825         429,728 
ID Systems, Inc. *                                   18,750         443,062 
Oshkosh Truck Corp.                                   5,900         297,773 
                                                             -------------- 
                                                                  1,170,563 
                                                             -------------- 
TOTAL COMMON STOCKS (Cost $29,132,483)                       $   27,233,629 
                                                             -------------- 
SHORT TERM INVESTMENTS - 0.38%                                              
State Street Global Advisers Funds (c)       $      102,000  $      102,000 
                                                             -------------- 
TOTAL SHORT TERM INVESTMENTS                                                
(Cost $102,000)                                              $      102,000 
                                                             -------------- 
TOTAL INVESTMENTS (EMERGING GROWTH TRUST)                                   
   (COST $29,234,483) - 100.63%                              $   27,335,629 

LIABILITIES IN EXCESS OF OTHER ASSETS -                                     
   (0.63)%                                                         (170,587)
                                                             -------------- 
TOTAL NET ASSETS - 100.00%                                   $   27,165,042 
                                                             ============== 

EMERGING SMALL COMPANY TRUST                                                    

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 99.90%                                                          

ADVERTISING - 1.83%                                                             
inVentiv Health, Inc. * (a)                              98,500   $    3,154,955
ValueClick, Inc. * (a)                                   99,500        1,844,730
                                                                  --------------
                                                                       4,999,685
AEROSPACE - 2.59%                                                               
Armor Holdings, Inc. *                                   24,500        1,404,585
BE Aerospace, Inc. * (a)                                181,000        3,817,290
HEICO Corp., Class A (a)                                 64,000        1,859,200
                                                                  --------------
                                                                       7,081,075
APPAREL & TEXTILES - 2.50%                                                      
Carter's, Inc. * (a)                                    103,000        2,718,170
Crocs, Inc. * (a)                                        88,600        3,007,970
Volcom, Inc. * (a)                                       49,000        1,104,460
                                                                  --------------
                                                                       6,830,600
AUTO PARTS - 1.68%                                                              
LKQ Corp. * (a)                                         209,000        4,591,730

AUTOMOBILES - 0.90%                                                             
Monro Muffler Brake, Inc.                                72,000        2,448,720

BANKING - 8.91%                                                                 
BankAtlantic Bancorp, Inc., Class A (a)                 116,000        1,649,520
Boston Private Financial Holdings, Inc. (a)              56,300        1,569,644
Capitol Bancorp, Ltd. (a)                                62,000        2,759,000
Digital Insight Corp. *                                  75,000        2,199,000
East West Bancorp, Inc. (a)                              59,044        2,338,733
PrivateBancorp, Inc. (a)                                 30,000        1,371,600
Signature Bank * (a)                                     65,000        2,010,450
Sterling Financial Corp., Spokane (a)                    58,500        1,897,155
United Community Banks, Inc. (a)                        130,000        3,906,500
Virginia Commerce Bancorp, Inc. * (a)                   117,999        2,619,578
Wintrust Financial Corp. (a)                             41,000        2,056,150
                                                                  --------------
                                                                      24,377,330
BIOTECHNOLOGY - 0.74%                                                           
Integra LifeSciences Holdings Corp. * (a)                54,000        2,023,920

BUILDING MATERIALS & CONSTRUCTION - 1.54%                                       
Beacon Roofing Supply, Inc. * (a)                       107,249        2,170,720
Williams Scotsman International, Inc. * (a)              95,500        2,039,880
                                                                  --------------
                                                                       4,210,600
BUSINESS SERVICES - 2.63%                                                       
Euronet Worldwide, Inc. * (a)                           101,000        2,479,550
Labor Ready, Inc. * (a)                                 151,000        2,405,430
Sotheby's Holdings, Inc., Class A (a)                    71,500        2,305,160
                                                                  --------------
                                                                       7,190,140
CABLE AND TELEVISION - 0.93%                                                    
Central European Media Enterprises-A,                                           
   Ltd. * (a)                                            38,000        2,547,900

CHEMICALS - 0.77%                                                               
Airgas, Inc.                                             58,000        2,097,860

COAL - 0.83%                                                                    
Foundation Coal Holdings, Inc.                           70,000        2,265,900

COMMERCIAL SERVICES - 0.84%                                                     
Pool Corp. (a)                                           60,000        2,310,000

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

EMERGING SMALL COMPANY TRUST (CONTINUED)                                        

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

COMPUTERS & BUSINESS EQUIPMENT - 3.97%                                          
Electronics for Imaging, Inc. * (a)                     100,800   $    2,306,304
Micros Systems, Inc. *                                   60,000        2,935,200
Rackable Systems, Inc. * (a)                             78,600        2,151,282
Trident Microsystems, Inc. * (a)                         58,800        1,367,688
Witness Systems, Inc. * (a)                             120,000        2,103,600
                                                                  --------------
                                                                      10,864,074
CRUDE PETROLEUM & NATURAL GAS - 1.60%                                           
Arena Resources, Inc. * (a)                              67,000        2,152,040
GMX Resources, Inc. * (a)                                71,000        2,228,690
                                                                  --------------
                                                                       4,380,730
DRUGS & HEALTH CARE - 3.40%                                                     
Conor Medsystems, Inc. * (a)                             85,600        2,017,592
Healthextras, Inc. * (a)                                109,000        3,085,790
Illumina, Inc. * (a)                                     40,000        1,321,600
Immucor, Inc. *                                         128,000        2,868,480
                                                                  --------------
                                                                       9,293,462
ELECTRICAL EQUIPMENT - 1.00%                                                    
W.H. Brady Company, Class A (a)                          77,700        2,731,932

ELECTRONICS - 0.40%                                                             
Measurement Specialties, Inc. * (a)                      58,556        1,092,069

ENERGY - 1.18%                                                                  
Energy Conversion Devices, Inc. * (a)                    52,500        1,944,600
Evergreen Solar, Inc. * (a)                             153,000        1,269,900
                                                                  --------------
                                                                       3,214,500
FINANCIAL SERVICES - 6.36%                                                      
Affiliated Managers Group, Inc. * (a)                    60,000        6,006,600
GFI Group, Inc. * (a)                                    57,531        3,180,889
Heartland Payment Systems, Inc. (a)                      52,500        1,365,000
optionsXpress Holdings, Inc. (a)                         80,000        2,230,400
Portfolio Recovery Associates, Inc. * (a)                37,500        1,645,125
SWS Group, Inc.                                          69,800        1,737,322
United Panam Financial Corp. * (a)                       80,000        1,238,400
                                                                  --------------
                                                                      17,403,736
FOOD & BEVERAGES - 2.01%                                                        
Hansen Natural Corp. * (a)                              126,000        4,092,480
Ruth's Chris Steak House, Inc. * (a)                     75,000        1,411,500
                                                                  --------------
                                                                       5,503,980
HEALTHCARE PRODUCTS - 5.90%                                                     
American Medical Systems Holdings,                                              
   Inc. * (a)                                           139,500        2,570,985
Arthrocare Corp. * (a)                                   42,800        2,005,608
DJO, Inc. * (a)                                          36,000        1,495,080
Haemonetics Corp. * (a)                                  75,000        3,510,000
PSS World Medical, Inc. * (a)                           126,100        2,520,739
Viasys Healthcare, Inc. *                               124,000        3,377,760
Visicu, Inc. * (a)                                       74,000          663,780
                                                                  --------------
                                                                      16,143,952
HEALTHCARE SERVICES - 1.94%                                                     
Horizon Health Corp. * (a)                               43,900          670,353
The Advisory Board Company *                             62,500        3,157,500

EMERGING SMALL COMPANY TRUST (CONTINUED)                                        

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

HEALTHCARE SERVICES (CONTINUED)                                                 
United Surgical Partners International,                                         
   Inc. * (a)                                            59,000   $    1,464,970
                                                                  --------------
                                                                       5,292,823
HOTELS & RESTAURANTS - 2.41%                                                    
McCormick & Schmick's Seafood                                                   
    Restaurants, Inc. * (a)                              91,000        2,046,590
Orient Express Hotels, Ltd. (a)                          49,729        1,858,870
Red Robin Gourmet Burgers, Inc. * (a)                    58,500        2,697,435
                                                                  --------------
                                                                       6,602,895
HOUSEHOLD PRODUCTS - 1.57%                                                      
Central Garden & Pet Company * (a)                       89,000        4,295,140

INDUSTRIAL MACHINERY - 2.61%                                                    
Actuant Corp., Class A (a)                               49,000        2,454,900
Gardner Denver, Inc. * (a)                               90,000        2,977,200
H&E Equipment Services, Inc. * (a)                       27,500          670,725
Presstek, Inc. * (a)                                    191,000        1,029,490
                                                                  --------------
                                                                       7,132,315
INDUSTRIALS - 1.39%                                                             
Harsco Corp. (a)                                         49,000        3,804,850

INSURANCE - 0.89%                                                               
Hub International, Ltd.                                  35,600        1,029,552
ProAssurance Corp. *                                     28,500        1,404,480
                                                                  --------------
                                                                       2,434,032
INTERNET CONTENT - 0.97%                                                        
RightNow Technologies, Inc. * (a)                       169,807        2,650,687

LEISURE TIME - 1.29%                                                            
Life Time Fitness, Inc. * (a)                            76,500        3,541,185

LIQUOR - 1.38%                                                                  
Central European Distribution Corp. * (a)               161,500        3,780,715

MANUFACTURING - 0.94%                                                           
Coherent, Inc. * (a)                                     74,311        2,575,619

MEDICAL-HOSPITALS - 2.68%                                                       
Lifepoint Hospitals, Inc. *                              40,000        1,412,800
Psychiatric Solutions, Inc. * (a)                       109,998        3,749,832
VCA Antech, Inc. * (a)                                   60,028        2,164,610
                                                                  --------------
                                                                       7,327,242
METAL & METAL PRODUCTS - 0.79%                                                  
RBC Bearings, Inc. * (a)                                 90,000        2,173,500

OFFICE FURNISHINGS & SUPPLIES - 1.24%                                           
Knoll, Inc.                                             168,200        3,397,640

PETROLEUM SERVICES - 3.87%                                                      
Basic Energy Services, Inc. *                            79,000        1,927,600
Superior Energy Services, Inc. *                         88,401        2,321,410
Superior Well Services, Inc. * (a)                       96,600        1,912,680
Universal Compression Holdings, Inc. * (a)               26,000        1,389,700
World Fuel Services Corp. (a)                            75,000        3,033,750
                                                                  --------------
                                                                      10,585,140
PHARMACEUTICALS - 1.64%                                                         
Adams Respiratory Therapeutics, Inc. * (a)               45,500        1,664,845

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

EMERGING SMALL COMPANY TRUST (CONTINUED)                                        

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

PHARMACEUTICALS (CONTINUED)                                                     
Adolor Corp. * (a)                                       96,000   $    1,331,520
Alkermes, Inc. * (a)                                     94,000        1,489,900
                                                                  --------------
                                                                       4,486,265
REAL ESTATE - 5.60%                                                             
BioMed Realty Trust, Inc., REIT (a)                      80,000        2,427,200
Innkeepers USA Trust, REIT (a)                          206,381        3,361,946
Jones Lang LaSalle, Inc., REIT (a)                       41,116        3,514,596
Sunstone Hotel Investors, Inc., REIT (a)                130,000        3,863,600
Trammell Crow Company, REIT * (a)                        59,000        2,154,090
                                                                  --------------
                                                                      15,321,432
RETAIL GROCERY - 1.05%                                                          
United Natural Foods, Inc. * (a)                         93,000        2,882,070

RETAIL TRADE - 4.24%                                                            
Childrens Place Retail Stores, Inc. * (a)                51,500        3,297,545
Guitar Center, Inc. * (a)                                51,700        2,309,956
Hibbett Sporting Goods, Inc. * (a)                       93,000        2,434,740
The Men's Wearhouse, Inc. (a)                            50,000        1,860,500
Tween Brands, Inc. * (a)                                 45,000        1,692,000
                                                                  --------------
                                                                      11,594,741
SEMICONDUCTORS - 2.85%                                                          
Advanced Analogic Technologies, Inc. * (a)              143,000          785,070
Microsemi Corp. * (a)                                    51,000          961,350
ON Semiconductor Corp. * (a)                            181,000        1,064,280
PMC-Sierra, Inc. * (a)                                  357,000        2,120,580
Varian Semiconductor Equipment Associates,                                      
   Inc. * (a)                                            77,971        2,861,536
                                                                  --------------
                                                                       7,792,816
SOFTWARE - 2.65%                                                                
Eclipsys Corp. * (a)                                     42,000          752,220
Transaction Systems Architects, Inc.,                                           
   Class A *                                            138,000        4,736,160
Ultimate Software Group, Inc. * (a)                      75,000        1,764,750
                                                                  --------------
                                                                       7,253,130
TELECOMMUNICATIONS EQUIPMENT &                                                  
SERVICES - 1.66%                                                                
Aeroflex, Inc. * (a)                                    200,000        2,056,000
Finisar Corp. * (a)                                     334,000        1,212,420
NeuStar, Inc., Class A * (a)                             46,000        1,276,500
                                                                  --------------
                                                                       4,544,920
TRANSPORTATION - 1.18%                                                          
UTI Worldwide, Inc. (a)                                 115,000        3,216,550

TRUCKING & FREIGHT - 2.55%                                                      
Knight Transportation, Inc. (a)                          62,000        1,050,900
Landstar Systems, Inc.                                   62,000        2,647,400
Old Dominion Freight Lines, Inc. * (a)                  109,000        3,273,270
                                                                  --------------
                                                                       6,971,570
                                                                  --------------
TOTAL COMMON STOCKS (Cost $288,180,569)                           $  273,261,172
                                                                  --------------

EMERGING SMALL COMPANY TRUST (CONTINUED)                                        

                                                                [Download Table]

                                                 SHARES OR                    
                                             PRINCIPAL AMOUNT       VALUE     
                                             ----------------  -------------- 
                                                                              
SHORT TERM INVESTMENTS - 25.39%                                               
State Street Navigator Securities                                             
   Lending Prime Portfolio (c)                 $   69,447,194  $   69,447,194 
                                                               -------------- 
TOTAL SHORT TERM INVESTMENTS                                                  
(Cost $69,447,194)                                             $   69,447,194 
                                                               -------------- 
REPURCHASE AGREEMENTS - 0.72%                                                 
Repurchase Agreement with State                                               
   Street Corp. dated 09/29/2006 at                                           
   3.95% to be repurchased at $1,976,650 on                                   
   10/02/2006, collateralized by $1,965,000                                   
   Federal Home Loan Mortgage Corp., 5.75%                                    
   due 05/23/2011 (valued at $2,019,038,                                      
   including interest) (c)                     $    1,976,000  $    1,976,000 
                                                               -------------- 
TOTAL REPURCHASE AGREEMENTS                                                   
   (Cost $1,976,000)                                           $    1,976,000 
                                                               -------------- 
TOTAL INVESTMENTS (EMERGING SMALL COMPANY                                     
TRUST)                                                                        
   (COST $359,603,763) - 126.01%                               $  344,684,366 

LIABILITIES IN EXCESS OF OTHER ASSETS -                                       
   (26.01)%                                                       (71,138,091)
                                                               -------------- 
TOTAL NET ASSETS - 100.00%                                     $  273,546,275 
                                                               ============== 

EQUITY-INCOME TRUST                                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 95.78%                                                          

AEROSPACE - 0.80%                                                               
Raytheon Company                                        380,900   $   18,287,009

ALUMINUM - 0.56%                                                                
Alcoa, Inc.                                             454,900       12,755,396

AMUSEMENT & THEME PARKS - 0.94%                                                 
Walt Disney Company                                     695,800       21,507,178

AUTO PARTS - 0.55%                                                              
Genuine Parts Company                                   294,400       12,697,472

AUTOMOBILES - 0.21%                                                             
Ford Motor Company (a)                                  590,200        4,774,718

BANKING - 3.90%                                                                 
Bank of America Corp.                                   367,700       19,697,689
Bank of Ireland                                          36,900          721,860
Fifth Third Bancorp. (a)                                642,300       24,458,784
Mercantile Bankshares Corp.                             198,050        7,183,273
National City Corp. (a)                                 252,700        9,248,820
SunTrust Banks, Inc.                                    236,500       18,276,720
Wells Fargo Company (c)                                 273,200        9,884,376
                                                                  --------------
                                                                      89,471,522
BIOTECHNOLOGY - 0.41%                                                           
MedImmune, Inc. * (a)                                   321,100        9,379,331

BROADCASTING - 0.72%                                                            
CBS Corp., Class B                                      588,750       16,585,088

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

EQUITY-INCOME TRUST (CONTINUED)                                                 

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

BUILDING MATERIALS & CONSTRUCTION - 0.15%                                       
Masco Corp.                                             128,900   $    3,534,438

BUSINESS SERVICES - 0.60%                                                       
H & R Block, Inc. (a)                                   638,900       13,889,686

CABLE AND TELEVISION - 2.81%                                                    
Comcast Corp., Class A *                                316,200       11,651,970
EchoStar Communications Corp., Class A *                237,500        7,775,750
Time Warner, Inc.                                     1,605,700       29,271,911
Viacom, Inc. *                                          428,150       15,918,617
                                                                  --------------
                                                                      64,618,248
CELLULAR COMMUNICATIONS - 0.58%                                                 
Motorola, Inc.                                          528,800       13,220,000

CHEMICALS - 1.24%                                                               
Chemtura Corp. (a)                                      454,000        3,936,180
E.I. Du Pont De Nemours & Company                       535,200       22,927,968
Hercules, Inc. *                                        101,200        1,595,924
                                                                  --------------
                                                                      28,460,072
COMPUTERS & BUSINESS EQUIPMENT - 2.66%                                          
Cisco Systems, Inc. *                                   829,600       19,080,800
Dell, Inc. *                                            691,700       15,798,428
International Business Machines Corp.                   320,300       26,245,382
                                                                  --------------
                                                                      61,124,610
CONSTRUCTION MATERIALS - 0.63%                                                  
Vulcan Materials Company                                183,900       14,390,175

COSMETICS & TOILETRIES - 3.51%                                                  
Avon Products, Inc. (a)                                 588,700       18,049,542
Colgate-Palmolive Company                               481,700       29,913,570
International Flavors & Fragrances, Inc. (a)            444,200       17,563,668
Kimberly-Clark Corp.                                    231,200       15,111,232
                                                                  --------------
                                                                      80,638,012
DOMESTIC OIL - 0.66%                                                            
Murphy Oil Corp. (a)                                    318,700       15,154,185

DRUGS & HEALTH CARE - 1.16%                                                     
Wyeth                                                   525,400       26,711,336

ELECTRICAL EQUIPMENT - 0.49%                                                    
Cooper Industries, Ltd., Class A                        130,700       11,138,254

ELECTRICAL UTILITIES - 1.96%                                                    
Entergy Corp.                                           241,000       18,853,430
FirstEnergy Corp.                                       252,200       14,087,892
Pinnacle West Capital Corp. (a)                         172,000        7,748,600
TECO Energy, Inc.                                       278,400        4,356,960
                                                                  --------------
                                                                      45,046,882
ELECTRONICS - 0.61%                                                             
Sony Corp.                                              347,900       14,092,898

ENERGY - 2.34%                                                                  
Duke Energy Corp.                                       761,700       23,003,340
Progress Energy, Inc. (a)                               367,700       16,686,226
Xcel Energy, Inc. (a)                                   682,900       14,101,885
                                                                  --------------
                                                                      53,791,451

EQUITY-INCOME TRUST (CONTINUED)                                                 

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

FINANCIAL SERVICES - 8.51%                                                      
Charles Schwab Corp.                                  1,289,400   $   23,080,260
Citigroup, Inc.                                         235,400       11,692,318
Federal National Mortgage Association                   210,100       11,746,691
Janus Capital Group, Inc.                               189,300        3,732,996
JPMorgan Chase & Company                              1,284,500       60,320,120
Mellon Financial Corp.                                  682,900       26,701,390
Morgan Stanley                                          525,400       38,306,914
State Street Corp. (c)                                  315,700       19,699,680
                                                                  --------------
                                                                     195,280,369
FOOD & BEVERAGES - 3.40%                                                        
Campbell Soup Company (a)                               343,600       12,541,400
General Mills, Inc.                                     374,700       21,208,020
McCormick & Company, Inc.                               265,300       10,076,094
Sara Lee Corp.                                          109,200        1,754,844
Sysco Corp.                                             187,300        6,265,185
The Coca-Cola Company                                   588,700       26,303,116
                                                                  --------------
                                                                      78,148,659
GAS & PIPELINE UTILITIES - 0.96%                                                
NiSource, Inc.                                        1,012,700       22,016,098

HEALTHCARE PRODUCTS - 2.28%                                                     
Baxter International, Inc.                              316,300       14,378,998
Boston Scientific Corp. *                               837,300       12,383,667
Johnson & Johnson                                       394,000       25,586,360
                                                                  --------------
                                                                      52,349,025
HOLDINGS COMPANIES/CONGLOMERATES - 2.92%                                        
General Electric Company                              1,897,200       66,971,160

HOMEBUILDERS - 0.36%                                                            
D.R. Horton, Inc. (a)                                   347,500        8,322,625

HOUSEHOLD PRODUCTS - 1.56%                                                      
Fortune Brands, Inc.                                    173,400       13,024,074
Newell Rubbermaid, Inc. (a)                             802,800       22,735,296
                                                                  --------------
                                                                      35,759,370
INDUSTRIAL MACHINERY - 1.30%                                                    
Deere & Company                                         181,700       15,246,447
Pall Corp.                                              472,800       14,566,968
                                                                  --------------
                                                                      29,813,415
INSURANCE - 5.68%                                                               
American International Group, Inc.                      425,100       28,167,126
Chubb Corp.                                             214,100       11,124,636
Lincoln National Corp.                                  347,900       21,597,632
Marsh & McLennan Companies, Inc.                      1,262,700       35,545,005
St. Paul Travelers Companies, Inc.                      420,300       19,707,867
UnumProvident Corp. (a)                                 735,500       14,261,345
                                                                  --------------
                                                                     130,403,611
INTERNATIONAL OIL - 5.02%                                                       
Anadarko Petroleum Corp.                                367,800       16,120,674
ChevronTexaco Corp.                                     669,000       43,391,340
Hess Corp.                                              529,800       21,944,316

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

EQUITY-INCOME TRUST (CONTINUED)                                                 

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

INTERNATIONAL OIL (CONTINUED)                                                   
Royal Dutch Shell PLC, ADR                              511,100   $   33,783,710
                                                                  --------------
                                                                     115,240,040
LIQUOR - 1.16%                                                                  
Anheuser-Busch Companies, Inc.                          562,000       26,700,620

MANUFACTURING - 3.39%                                                           
3M Company                                              242,700       18,061,734
Eaton Corp. (a)                                         128,500        8,847,225
Honeywell International, Inc.                           749,300       30,646,370
Illinois Tool Works, Inc.                                81,600        3,663,840
Tyco International, Ltd.                                596,900       16,707,231
                                                                  --------------
                                                                      77,926,400
NEWSPAPERS - 1.59%                                                              
Dow Jones & Company, Inc. (a)                           479,100       16,069,014
The New York Times Company, Class A (a)                 894,300       20,551,014
                                                                  --------------
                                                                      36,620,028
OFFICE FURNISHINGS & SUPPLIES - 0.83%                                           
Avery Dennison Corp.                                    315,200       18,965,584

PAPER - 2.03%                                                                   
International Paper Company                           1,059,700       36,697,411
MeadWestvaco Corp. (a)                                  374,700        9,933,297
                                                                  --------------
                                                                      46,630,708
PETROLEUM SERVICES - 3.47%                                                      
BP PLC, SADR (a)                                        294,400       19,306,752
Exxon Mobil Corp.                                       656,700       44,064,570
Schlumberger, Ltd.                                      262,700       16,295,281
                                                                  --------------
                                                                      79,666,603
PHARMACEUTICALS - 6.07%                                                         
Abbott Laboratories                                     401,400       19,491,984
Bristol-Myers Squibb Company                            633,300       15,781,836
Eli Lilly & Company                                     427,300       24,356,100
Merck & Company, Inc.                                   909,900       38,124,810
Pfizer, Inc.                                          1,070,400       30,356,544
Schering-Plough Corp.                                   508,500       11,232,765
                                                                  --------------
                                                                     139,344,039
PHOTOGRAPHY - 0.63%                                                             
Eastman Kodak Company (a)                               642,300       14,387,520

PUBLISHING - 1.32%                                                              
Tribune Company (a)                                     925,100       30,269,272

RAILROADS & EQUIPMENT - 1.81%                                                   
Norfolk Southern Corp.                                  240,800       10,607,240
Union Pacific Corp.                                     352,500       31,020,000
                                                                  --------------
                                                                      41,627,240
REAL ESTATE - 0.05%                                                             
Simon Property Group, Inc., REIT                         12,000        1,087,440

RETAIL TRADE - 2.38%                                                            
Home Depot, Inc.                                        608,700       22,077,549
RadioShack Corp. (a)                                    385,400        7,438,220
Wal-Mart Stores, Inc.                                   508,500       25,079,220
                                                                  --------------
                                                                      54,594,989

EQUITY-INCOME TRUST (CONTINUED)                                                 

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

SANITARY SERVICES - 0.80%                                                       
Waste Management, Inc.                                  498,900   $   18,299,652

SEMICONDUCTORS - 1.05%                                                          
Analog Devices, Inc.                                    447,400       13,149,086
Intel Corp.                                             535,200       11,009,064
                                                                  --------------
                                                                      24,158,150
SOFTWARE - 1.66%                                                                
Microsoft Corp.                                       1,392,800       38,065,224

TELECOMMUNICATIONS EQUIPMENT &                                                  
SERVICES - 1.02%                                                                
Lucent Technologies, Inc. * (a)                       2,078,600        4,863,924
Nokia Oyj, SADR                                         947,700       18,660,213
                                                                  --------------
                                                                      23,524,137
TELEPHONE - 5.54%                                                               
ALLTEL Corp.                                            341,500       18,953,250
AT&T, Inc.                                            1,284,549       41,824,916
Qwest Communications International,                                             
   Inc. * (a)                                         2,641,000       23,029,520
Sprint Nextel Corp.                                     945,600       16,217,040
Verizon Communications, Inc.                            604,200       22,433,946
Windstream Corp. * (a)                                  353,085        4,657,191
                                                                  --------------
                                                                     127,115,863
TOBACCO - 0.54%                                                                 
UST, Inc. (a)                                           224,800       12,325,784

TOYS, AMUSEMENTS & SPORTING GOODS - 0.96%                                       
Mattel, Inc.                                          1,124,000       22,142,800
                                                                  --------------
TOTAL COMMON STOCKS (Cost $1,838,922,495)                         $2,199,024,386
                                                                  --------------
CORPORATE BONDS - 0.32%                                                         

TELECOMMUNICATIONS EQUIPMENT &                                                  
SERVICES - 0.32%                                                                
Lucent Technologies, Inc.                                                       
   8.00% due 08/01/2031 (a)                      $    7,233,000        7,260,486
                                                                  --------------
TOTAL CORPORATE BONDS (Cost $7,838,764)                           $    7,260,486
                                                                  --------------
SHORT TERM INVESTMENTS - 12.16%                                                 
State Street Navigator Securities                                               
    Lending Prime Portfolio (c)                  $  197,870,099   $  197,870,099
T. Rowe Price Reserve Investment Fund (c)            81,198,141       81,198,141
                                                                  --------------
TOTAL SHORT TERM INVESTMENTS                                                    
   (Cost $279,068,240)                                            $  279,068,240
                                                                  --------------

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

EQUITY-INCOME TRUST (CONTINUED)                                                 

                                                                [Download Table]

                                             SHARES OR                    
                                         PRINCIPAL AMOUNT       VALUE     
                                         ----------------  -------------- 
                                                                          
REPURCHASE AGREEMENTS - 0.09%                                             
Repurchase Agreement with State                                           
   Street Corp. dated 09/29/2006 at                                       
   3.95% to be repurchased at                                             
   $2,036,670 on 10/02/2006,                                              
   collateralized by $2,120,000                                           
   Federal National Mortgage                                              
   Association, 6.00% due                                                 
   07/25/2025 (valued at $2,077,600,                                      
   including interest) (c)                 $    2,036,000  $    2,036,000 
                                                           -------------- 
TOTAL REPURCHASE AGREEMENTS                                               
   (Cost $2,036,000)                                       $    2,036,000 
                                                           -------------- 
TOTAL INVESTMENTS (EQUITY-INCOME TRUST)                                   
   (COST $2,127,865,499) - 108.35%                         $2,487,389,112 
LIABILITIES IN EXCESS OF OTHER ASSETS                                     
   - (8.35)%                                                 (191,598,048)
                                                           -------------- 
TOTAL NET ASSETS - 100.00%                                 $2,295,791,064 
                                                           ============== 

FINANCIAL SERVICES TRUST                                                        

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 95.23%                                                          

BANKING - 13.80%                                                                
Commerce Bancorp, Inc. (a)                              218,600   $    8,024,806
Golden West Financial Corp.                             104,800        8,095,800
ICICI Bank, Ltd., SADR (a)                               12,900          396,159
Wells Fargo Company (c)                                 194,800        7,047,864
                                                                  --------------
                                                                      23,564,629
BUSINESS SERVICES - 9.99%                                                       
Dun & Bradstreet Corp. *                                 69,300        5,196,807
H & R Block, Inc.                                       135,200        2,939,248
Moody's Corp.                                           136,400        8,917,832
                                                                  --------------
                                                                      17,053,887
CONTAINERS & GLASS - 2.17%                                                      
Sealed Air Corp. (a)                                     68,500        3,707,220

FINANCIAL SERVICES - 29.69%                                                     
Ameriprise Financial, Inc.                              118,540        5,559,526
Goldman Sachs Group, Inc.                                54,800        9,270,516
JPMorgan Chase & Company                                170,048        7,985,454
Merrill Lynch & Company, Inc.                           105,300        8,236,566
T. Rowe Price Group, Inc. (c)                           196,000        9,378,600
The First Marblehead Corp. (a)                          147,900       10,243,554
                                                                  --------------
                                                                      50,674,216
HOLDINGS COMPANIES/CONGLOMERATES - 3.36%                                        
Loews Corp.                                             151,100        5,726,690

INSURANCE - 18.42%                                                              
American International Group, Inc.                      122,600        8,123,476
China Life Insurance Company, Ltd., ADR (a)              31,900        2,493,304
Everest Re Group, Ltd.                                   40,900        3,988,977
FPIC Insurance Group, Inc. *                             61,500        2,436,015
Markel Corp. * (a)                                        9,800        4,024,468
Progressive Corp.                                       196,000        4,809,840

FINANCIAL SERVICES TRUST (CONTINUED)                                            

                                                                [Download Table]

                                                  SHARES OR                    
                                              PRINCIPAL AMOUNT       VALUE     
                                              ----------------  -------------- 
                                                                               
COMMON STOCKS (CONTINUED)                                                      

INSURANCE (CONTINUED)                                                          
Transatlantic Holdings, Inc. (a)                        92,237  $    5,572,037 
                                                                -------------- 
                                                                    31,448,117 
MANUFACTURING - 4.12%                                                          
Tyco International, Ltd.                               251,500       7,039,485 

TOBACCO - 2.80%                                                                
Altria Group, Inc.                                      62,500       4,784,375 

TRAVEL SERVICES - 10.88%                                                       
American Express Company                               331,100      18,568,088 
                                                                -------------- 
TOTAL COMMON STOCKS (Cost $107,676,366)                         $  162,566,707 
                                                                -------------- 
SHORT TERM INVESTMENTS - 22.55%                                                
Barton Capital Corp.                                                           
   5.27% due 10/04/2006                         $    4,500,000  $    4,498,024 
Rabobank USA Finance Corp.                                                     
   5.36% due 10/02/2006                              5,765,000       5,764,142 
State Street Navigator Securities Lending                                      
   Prime Portfolio (c)                              24,597,610      24,597,610 
UBS Finance (Delaware) LLC                                                     
   5.26% due 10/02/2006 (c)                          3,628,000       3,627,470 
                                                                -------------- 
TOTAL SHORT TERM INVESTMENTS                                                   
   (Cost $38,487,245)                                           $   38,487,246 
                                                                -------------- 
TOTAL INVESTMENTS (FINANCIAL SERVICES TRUST)                                   
   (COST $146,163,611) - 117.78%                                $  201,053,953 

LIABILITIES IN EXCESS OF OTHER ASSETS -                                        
   (17.78)%                                                        (30,346,290)
                                                                -------------- 
TOTAL NET ASSETS - 100.00%                                      $  170,707,663 
                                                                ============== 

FUNDAMENTAL VALUE TRUST                                                         

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 94.87%                                                          

ADVERTISING - 0.24%                                                             
WPP Group PLC, SADR                                      41,649   $    2,570,993

BANKING - 6.58%                                                                 
Commerce Bancorp, Inc. (a)                              185,900        6,824,389
Golden West Financial Corp.                             437,801       33,820,127
Wells Fargo Company (c)                                 803,334       29,064,624
                                                                  --------------
                                                                      69,709,140
BROADCASTING - 1.94%                                                            
Liberty Media Holding Corp.-Capital,                                            
   Series A *                                            33,505        2,800,013
News Corp.                                              901,000       17,704,650
                                                                  --------------
                                                                      20,504,663
BUSINESS SERVICES - 4.36%                                                       
Dun & Bradstreet Corp. *                                 82,305        6,172,052
H & R Block, Inc. (a)                                   509,977       11,086,900
Iron Mountain, Inc. * (a)                               332,758       14,288,628
Moody's Corp. (a)                                       222,699       14,560,061
                                                                  --------------
                                                                      46,107,641

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

FUNDAMENTAL VALUE TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

CABLE AND TELEVISION - 3.70%                                                    
Comcast Corp.-Special Class A * (a)                     919,243   $   33,837,335
NTL, Inc.                                               208,007        5,289,618
                                                                  --------------
                                                                      39,126,953
COLLEGES & UNIVERSITIES - 0.34%                                                 
Apollo Group, Inc., Class A *                            73,500        3,619,140

COMPUTERS & BUSINESS EQUIPMENT - 1.18%                                          
Dell, Inc. *                                            272,100        6,214,764
Hewlett-Packard Company                                 172,016        6,311,267
                                                                  --------------
                                                                      12,526,031
CONSTRUCTION MATERIALS - 1.36%                                                  
Martin Marietta Materials, Inc. (a)                      86,521        7,321,407
Vulcan Materials Company                                 90,930        7,115,273
                                                                  --------------
                                                                      14,436,680
CONTAINERS & GLASS - 1.95%                                                      
Sealed Air Corp. (a)                                    381,196       20,630,328

COSMETICS & TOILETRIES - 1.53%                                                  
Avon Products, Inc.                                     132,588        4,065,148
Procter & Gamble Company                                196,100       12,154,278
                                                                  --------------
                                                                      16,219,426
CRUDE PETROLEUM & NATURAL GAS - 6.31%                                           
Devon Energy Corp.                                      361,491       22,828,157
EOG Resources, Inc.                                     311,712       20,276,865
Occidental Petroleum Corp.                              493,018       23,719,096
                                                                  --------------
                                                                      66,824,118
FINANCIAL SERVICES - 11.05%                                                     
Ameriprise Financial, Inc.                              245,327       11,505,836
Citigroup, Inc.                                         451,781       22,439,962
HSBC Holdings PLC                                     1,669,295       30,445,055
JPMorgan Chase & Company                                930,438       43,693,368
Morgan Stanley                                           96,725        7,052,220
State Street Corp. (c)                                   30,725        1,917,240
                                                                  --------------
                                                                     117,053,681
FOOD & BEVERAGES - 1.85%                                                        
Diageo PLC, SADR                                        180,419       12,816,966
Hershey Company (a)                                     127,017        6,789,058
                                                                  --------------
                                                                      19,606,024
HEALTHCARE SERVICES - 2.30%                                                     
Cardinal Health, Inc.                                   158,048       10,390,076
Caremark Rx, Inc.                                       247,129       14,004,800
                                                                  --------------
                                                                      24,394,876
HOLDINGS COMPANIES/CONGLOMERATES - 5.63%                                        
Berkshire Hathaway, Inc., Class A *                         346       33,146,800
China Merchants Holdings International                                          
   Company, Ltd.                                      1,790,511        5,262,424
Loews Corp.                                             558,089       21,151,573
                                                                  --------------
                                                                      59,560,797
HOUSEHOLD PRODUCTS - 0.20%                                                      
Hunter Douglas NV                                        29,636        2,079,155

FUNDAMENTAL VALUE TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

INDUSTRIALS - 0.27%                                                             
Cosco Pacific, Ltd.                                   1,439,185   $    2,877,779

INSURANCE - 9.12%                                                               
American International Group, Inc.                      695,357       46,074,355
Aon Corp.                                               208,692        7,068,398
Chubb Corp.                                              56,596        2,940,728
Markel Corp. * (a)                                        2,153          884,151
Principal Financial Group, Inc. (a)                      61,258        3,325,084
Progressive Corp.                                       999,204       24,520,466
Sun Life Financial, Inc. (a)                             37,229        1,528,995
Transatlantic Holdings, Inc. (a)                        170,100       10,275,741
                                                                  --------------
                                                                      96,617,918
INTERNATIONAL OIL - 3.95%                                                       
ConocoPhillips                                          703,276       41,866,020

INTERNET RETAIL - 0.85%                                                         
Amazon.com, Inc. * (a)                                  183,300        5,887,596
Expedia, Inc. * (a)                                      69,422        1,088,537
IAC/InterActiveCorp. * (a)                               71,222        2,048,345
                                                                  --------------
                                                                       9,024,478
INTERNET SERVICE PROVIDER - 0.32%                                               
Liberty Media Holding Corp.-Interactive A *             167,525        3,414,160

LIQUOR - 0.77%                                                                  
Heineken Holding NV                                     207,750        8,167,792

MANUFACTURING - 5.99%                                                           
Harley-Davidson, Inc. (a)                               309,068       19,394,017
Tyco International, Ltd.                              1,574,868       44,080,555
                                                                  --------------
                                                                      63,474,572
MINING - 0.44%                                                                  
BHP Billiton PLC                                        136,500        2,355,404
Rio Tinto PLC                                            48,300        2,284,306
                                                                  --------------
                                                                       4,639,710
PETROLEUM SERVICES - 0.82%                                                      
Transocean, Inc. *                                      117,725        8,621,002

PUBLISHING - 1.09%                                                              
Gannett Company, Inc.                                    47,082        2,675,670
Lagardere S.C.A.                                        123,313        8,901,500
                                                                  --------------
                                                                      11,577,170
RETAIL TRADE - 6.99%                                                            
Bed Bath & Beyond, Inc. *                               152,200        5,823,172
CarMax, Inc. *                                           61,000        2,544,310
Costco Wholesale Corp.                                  776,394       38,571,254
Lowe's Companies, Inc.                                  181,200        5,084,472
Wal-Mart Stores, Inc.                                   445,405       21,967,375
                                                                  --------------
                                                                      73,990,583
SOFTWARE - 2.17%                                                                
Microsoft Corp.                                         841,674       23,002,950

TELECOMMUNICATIONS EQUIPMENT &                                                  
SERVICES - 0.77%                                                                
Nokia Oyj, SADR                                         123,014        2,422,146

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

FUNDAMENTAL VALUE TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                 SHARES OR                    
                                             PRINCIPAL AMOUNT       VALUE     
                                             ----------------  -------------- 
                                                                              
COMMON STOCKS (CONTINUED)                                                     

TELECOMMUNICATIONS EQUIPMENT &                                                
   SERVICES (CONTINUED)                                                       
SK Telecom Company, Ltd., ADR                         242,361  $    5,726,990 
                                                               -------------- 
                                                                    8,149,136 
TELEPHONE - 1.05%                                                             
Sprint Nextel Corp.                                   648,800      11,126,920 

TOBACCO - 4.49%                                                               
Altria Group, Inc.                                    620,697      47,514,355 

TRAVEL SERVICES - 4.46%                                                       
American Express Company                              842,935      47,271,795 

TRUCKING & FREIGHT - 0.80%                                                    
Kuehne & Nagel International AG                        50,500       3,493,203 
United Parcel Service, Inc., Class B                   68,758       4,946,450 
                                                               -------------- 
                                                                    8,439,653 
                                                               -------------- 
TOTAL COMMON STOCKS (Cost $783,424,982)                        $1,004,745,639 
                                                               -------------- 
CONVERTIBLE BONDS - 0.34%                                                     

TELECOMMUNICATIONS EQUIPMENT &                                                
   SERVICES - 0.34%                                                           
Level 3 Communications, Inc.                                                  
   10.00% due 05/01/2011                       $    2,000,000       3,560,000 
                                                               -------------- 
TOTAL CONVERTIBLE BONDS (Cost $2,000,000)                      $    3,560,000 
                                                               -------------- 
SHORT TERM INVESTMENTS - 8.03%                                                
Rabobank USA Finance Corp.                                                    
   5.36% due 10/02/2006                        $   12,984,000  $   12,982,067 
Sanpaola Imi US Financial Company                                             
   5.28% due 10/02/2006                            35,679,000      35,673,767 
State Street Navigator Securities Lending                                     
   Prime Portfolio (c)                             36,363,055      36,363,055 
                                                               -------------- 
TOTAL SHORT TERM INVESTMENTS                                                  
(Cost $ 85,018,889)                                            $   85,018,889 
                                                               -------------- 
TOTAL INVESTMENTS (FUNDAMENTAL VALUE TRUST)                                   
   (COST $870,443,871) - 103.24%                               $1,093,324,528 

LIABILITIES IN EXCESS OF OTHER                                                
   ASSETS - (3.24)%                                               (34,290,029)
                                                               -------------- 
TOTAL NET ASSETS - 100.00%                                     $1,059,034,499 
                                                               ============== 

GLOBAL ALLOCATION TRUST                                                         

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 67.32%                                                          

AUSTRALIA - 0.47%                                                               
National Australia Bank, Ltd.                            12,254   $      335,560
Qantas Airways, Ltd., ADR                               147,577          430,548
QBE Insurance Group, Ltd. (a)                            23,286          425,684
                                                                  --------------
                                                                       1,191,792
AUSTRIA - 0.10%                                                                 
Telekom Austria AG                                        9,791          247,185

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

BELGIUM - 0.27%                                                                 
KBC Bancassurance Holding NV                              4,770   $      502,574
Solvay SA                                                 1,359          175,858
                                                                  --------------
                                                                         678,432
BERMUDA - 0.52%                                                                 
Accenture, Ltd., Class A                                 31,300          992,523
Esprit Holdings, Ltd.                                    25,000          226,687
Yue Yuen Industrial Holdings, Ltd. (a)                   39,000          120,129
                                                                  --------------
                                                                       1,339,339
CANADA - 0.62%                                                                  
Alcan Aluminum, Ltd. USD                                  4,800          191,750
Canadian Pacific Railway, Ltd.                            8,300          413,511
Cott Corp. *                                              9,700          166,132
Inco, Ltd.                                                1,100           84,049
Magna International, Inc.                                 2,100          152,811
Toronto Dominion Bank Ontario                             9,600          571,765
                                                                  --------------
                                                                       1,580,018
CAYMAN ISLANDS - 0.08%                                                          
Hutchison Telecommunications                                                    
   International, Ltd. *                                112,000          196,642

FINLAND - 0.27%                                                                 
Nokia AB Oyj                                             12,950          257,279
UPM-Kymmene Oyj                                          17,800          423,186
                                                                  --------------
                                                                         680,465
FRANCE - 1.39%                                                                  
AXA Group (a)                                            21,820          804,991
France Telecom SA (a)                                    35,678          819,259
Sanofi-Aventis (a)                                        5,947          529,636
Total SA (a)                                             18,898        1,240,704
Unibail (a)                                                 815          171,326
                                                                  --------------
                                                                       3,565,916
GERMANY - 1.25%                                                                 
Allianz AG                                                5,371          929,964
Bayerische Motoren Werke (BMW) AG                         3,981          213,333
Deutsche Postbank AG                                      6,322          480,022
E.ON AG                                                   5,580          661,752
Hannover Rueckversicherung AG * (a)                       2,832          119,174
IKB Deutsche Industriebank AG                             3,671          127,515
MAN AG (a)                                                2,252          190,676
Metro AG                                                  3,898          227,924
Premiere AG * (a)                                         3,568           47,619
Siemens AG                                                2,401          209,567
                                                                  --------------
                                                                       3,207,546
HONG KONG - 0.08%                                                               
Sun Hung Kai Properties, Ltd.                            19,000          207,153

IRELAND - 0.49%                                                                 
Bank of Ireland - London                                 34,695          679,164
CRH PLC - London                                          8,468          286,729
Depfa Bank PLC                                           15,286          282,356
                                                                  --------------
                                                                       1,248,249

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

ITALY - 0.28%                                                                   
Eni SpA (a)                                              11,040   $      327,318
UniCredito Italiano SpA                                  46,748          388,163
                                                                  --------------
                                                                         715,481
JAPAN - 3.39%                                                                   
AEON Company, Ltd. (a)                                   10,900          267,419
Aiful Corp. (a)                                           4,750          183,962
Asahi Breweries, Ltd. (a)                                19,600          286,027
Bridgestone Corp.                                        18,800          379,983
Canon, Inc.                                               9,400          490,712
East Japan Railway Company (a)                               41          287,000
Funai Electric Company, Ltd. (a)                          1,600          150,915
Honda Motor Company, Ltd. (a)                            12,000          403,729
Japan Tobacco, Inc.                                          49          190,602
KDDI Corp. (a)                                               25          155,932
Mitsubishi Corp. (a)                                     19,700          370,627
Mitsui Fudosan Company, Ltd.                              9,000          204,788
Mitsui Sumitomo Insurance Company, Ltd.                  30,000          375,508
Nissan Motor Company, Ltd. (a)                           38,300          429,414
Nitto Denko Corp. (a)                                     5,800          344,068
NOK Corp. (a)                                             6,800          167,983
Nomura Holdings, Inc. (a)                                11,600          204,475
NTN Corp. (a)                                            19,000          150,390
NTT DoCoMo, Inc. (a)                                        241          371,712
Rohm Company, Ltd. (a)                                    3,800          353,271
Shin-Etsu Chemical Company, Ltd.                          5,200          332,271
SMC Corp.                                                 1,400          185,441
Sompo Japan Insurance, Inc.                              16,000          209,763
Sumitomo Mitsui Financial Group, Inc.                        52          546,441
Sumitomo Trust & Banking Company, Ltd. (a)               22,000          230,441
Takefuji Corp. (a)                                        3,880          178,217
Tanabe Seiyaku Company, Ltd. (a)                         10,000          125,424
The Bank of Yokohama, Ltd.                               32,000          252,203
Tokyo Gas Company, Ltd. (a)                              39,000          195,661
Toyota Motor Corp. (a)                                    8,300          451,576
Yokogawa Electric Corp. (a)                              15,100          198,603
                                                                  --------------
                                                                       8,674,558
NETHERLANDS - 1.68%                                                             
ABN AMRO Holdings NV (a)                                 52,361        1,527,840
Aegon NV                                                 32,622          612,098
ASML Holding NV *                                        15,020          351,377
ING Groep NV                                              5,194          228,585
Koninklijke (Royal) KPN NV                               26,341          336,180
Koninklijke (Royal) Philips Electronics NV               12,567          441,147
Reed Elsevier NV                                         28,101          468,802
TNT Post Group NV                                         8,979          340,711
                                                                  --------------
                                                                       4,306,740
NORWAY - 0.08%                                                                  
Telenor ASA                                              16,100          210,504

SINGAPORE - 0.01%                                                               
Jardine Cycle and Carriage, Ltd.                          4,141           31,332

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

SPAIN - 0.52%                                                                   
Banco Santander Central Hispano SA (a)                   62,998   $      996,633
Repsol SA (a)                                            10,931          325,473
                                                                  --------------
                                                                       1,322,106
SWEDEN - 0.33%                                                                  
Electrolux AB, Series B (a)                              10,000          162,719
Ericsson LM, Series B                                    82,000          284,800
Husqvarna AB, B Shares *                                 10,600          125,014
Sandvik AB                                               23,300          267,626
                                                                  --------------
                                                                         840,159
SWITZERLAND - 1.66%                                                             
Clariant AG *                                             9,433          127,483
Credit Suisse Group AG                                   21,046        1,217,655
Holcim, Ltd.                                              5,139          419,997
Nestle SA                                                 1,294          451,167
Novartis AG                                              11,708          683,474
Roche Holdings AG                                         5,360          926,695
Straumann Holding AG (a)                                    796          171,390
Swiss Re                                                  3,305          252,929
                                                                  --------------
                                                                       4,250,790
UNITED KINGDOM - 3.84%                                                          
AstraZeneca Group PLC                                     2,925          182,732
Barclays PLC                                             85,606        1,079,856
BICC PLC                                                 15,364          118,397
BP PLC                                                  112,053        1,220,529
Cadbury Schweppes PLC                                    16,610          176,727
Diageo PLC                                               38,090          672,597
Gallaher Group PLC                                       35,282          577,120
GlaxoSmithKline PLC                                      13,671          363,833
GUS PLC                                                  10,542          190,591
ITV PLC                                                   6,521           11,808
Kesa Electricals PLC                                     33,043          201,449
Kingfisher PLC                                           71,555          328,436
Prudential PLC                                           66,433          824,948
Rentokil Initial PLC                                     34,788           95,382
Royal Bank of Scotland Group PLC                         30,282        1,042,241
Scottish & Southern Energy PLC                           10,456          257,919
Taylor Nelson Sofres PLC                                 41,557          166,441
Tesco PLC                                                92,021          619,999
Vodafone Group PLC *                                    470,302        1,076,038
Wolseley PLC                                             19,990          421,263
WPP Group PLC                                            15,668          194,121
                                                                  --------------
                                                                       9,822,427
UNITED STATES - 49.99%                                                          
Allergan, Inc.                                           25,600        2,882,816
Allstate Corp.                                           21,400        1,342,422
American Electric Power Company, Inc.                    27,300          992,901
American International Group, Inc.                       43,300        2,869,058
Analog Devices, Inc.                                     38,400        1,128,576
Anheuser-Busch Companies, Inc.                           19,200          912,192
AT&T, Inc.                                               54,400        1,771,264
BorgWarner, Inc.                                         16,900          966,173

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

UNITED STATES (CONTINUED)                                                       
Bristol-Myers Squibb Company                             61,000   $    1,520,120
Burlington Northern Santa Fe Corp.                       32,100        2,357,424
Caremark Rx, Inc.                                        21,000        1,190,070
Carnival Corp.                                           44,700        2,102,241
Cephalon, Inc. * (a)                                     11,100          685,425
Citigroup, Inc.                                         107,500        5,339,525
City National Corp.                                       8,700          583,422
Constellation Brands, Inc., Class A *                       800           23,024
Costco Wholesale Corp.                                   33,900        1,684,152
Dell, Inc. *                                             53,300        1,217,372
DIRECTV Group, Inc. *                                    88,400        1,739,712
Embarq Corp.                                              7,004          338,784
ENSCO International, Inc.                                24,200        1,060,686
EOG Resources, Inc.                                      16,500        1,073,325
Exelon Corp.                                             55,400        3,353,916
Exxon Mobil Corp.                                        18,000        1,207,800
Federal Home Loan Mortgage Corp.                         28,300        1,877,139
Fedex Corp.                                              17,200        1,869,296
Fifth Third Bancorp. (a)                                 60,700        2,311,456
Genzyme Corp. *                                          28,900        1,949,883
GlobalSantaFe Corp. (a)                                  23,600        1,179,764
H & R Block, Inc. (a)                                    26,000          565,240
Halliburton Company                                      36,600        1,041,270
Harley-Davidson, Inc. (a)                                19,800        1,242,450
Hartford Financial Services Group, Inc.                  14,800        1,283,900
Illinois Tool Works, Inc.                                51,200        2,298,880
Intel Corp.                                             112,300        2,310,011
Johnson & Johnson                                        42,500        2,759,950
Johnson Controls, Inc.                                   31,100        2,231,114
JPMorgan Chase & Company                                 52,300        2,456,008
Kohl's Corp. *                                            9,200          597,264
Marathon Oil Corp.                                        8,700          669,030
Masco Corp.                                              88,500        2,426,670
McAfee, Inc. *                                            1,700           41,582
Medco Health Solutions, Inc. *                           26,300        1,580,893
Medtronic, Inc.                                          27,700        1,286,388
Mellon Financial Corp.                                   56,700        2,216,970
Microsoft Corp.                                         173,400        4,739,022
Millennium Pharmaceuticals, Inc. *                       41,800          415,910
Morgan Stanley                                           64,600        4,709,986
News Corp.                                               47,200          927,480
NiSource, Inc.                                           32,600          708,724
Northeast Utilities                                      14,200          330,434
Northrop Grumman Corp.                                   15,900        1,082,313
Omnicom Group, Inc.                                      27,000        2,527,200
Oracle Corp. *                                           33,500          594,290
PACCAR, Inc.                                              9,900          564,498
Pepco Holdings, Inc.                                     21,400          517,238
PNC Financial Services Group, Inc.                       27,100        1,963,124
R.H. Donnelley Corp. * (a)                               18,007          952,570
Realogy Corp., REIT *                                    16,200          367,416
Salesforce.Com, Inc. * (a)                               15,900          570,492

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

UNITED STATES (CONTINUED)                                                       
Sempra Energy                                            25,900   $    1,301,475
Sprint Nextel Corp.                                     140,295        2,406,059
Symantec Corp. *                                         89,244        1,899,112
Sysco Corp.                                              35,800        1,197,510
The Kroger Company                                       53,400        1,235,676
UBS Emerging Markets Equities Fund *                    414,999       10,095,225
UBS High Yield Fund *                                   131,879        2,706,127
UnitedHealth Group, Inc.                                 56,200        2,765,040
Univision Communications, Inc., Class A *                11,800          405,212
Waters Corp. *                                           24,400        1,104,832
Wells Fargo Company                                     111,400        4,030,452
Wyeth                                                    80,500        4,092,620
Wyndham Worldwide Corp. *                                 9,620          269,072
Xilinx, Inc. (a)                                         36,200          794,590
                                                                  --------------
                                                                     127,811,257
                                                                  --------------
TOTAL COMMON STOCKS (Cost $153,140,459)                           $  172,128,091
                                                                  --------------
U.S. TREASURY OBLIGATIONS - 6.53%                                               

TREASURY INFLATION PROTECTED                                                    
SECURITIES (D) - 0.29%                                                          
   2.00% due 07/15/2014                          $      753,438          738,428

U.S. TREASURY BONDS - 0.62%                                                     
   4.50% due 02/15/2036                                 620,000          594,086
   6.25% due 08/15/2023                                 730,000          847,712
   8.50% due 02/15/2020                                 105,000          143,087
                                                                  --------------
                                                                       1,584,885
U.S. TREASURY NOTES - 5.62%                                                     
   4.50% due 02/15/2016                               1,415,000        1,400,795
   4.625% due 02/29/2008                              2,585,000        2,578,739
   4.875% due 05/31/2008 to 04/30/2011               10,310,000       10,389,489
                                                                  --------------
                                                                      14,369,023
                                                                  --------------
TOTAL U.S. TREASURY OBLIGATIONS                                                 
   (Cost $16,285,417)                                             $   16,692,336
                                                                  --------------
U.S. GOVERNMENT AGENCY OBLIGATIONS - 5.15%                                      

FEDERAL HOME LOAN BANK - 0.16%                                                  
   5.00% due 10/02/2009                                 255,000          255,382
   5.625% due 06/13/2016                                165,000          170,095
                                                                  --------------
                                                                         425,477
FEDERAL HOME LOAN MORTGAGE CORP. - 0.64%                                        
   4.50% due 06/01/2034                                 278,799          261,152
   4.507% due 01/01/2035 (b)                            365,562          360,495
   5.50% due 04/01/2018 to 01/01/2019                   399,073          399,802
   5.75% due 06/27/2016                                 165,000          171,948
   6.00% due 12/01/2017 to 08/15/2030                    82,240           83,064
   6.50% due 11/01/2029                                 346,075          354,749
                                                                  --------------
                                                                       1,631,210
FEDERAL NATIONAL MORTGAGE ASSOCIATION                                           
   - 4.20%                                                                      
   3.875% due 07/15/2008                                365,000          358,116
   4.125% due 05/15/2010                                385,000          375,401

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
U.S. GOVERNMENT AGENCY                                                          
   OBLIGATIONS (CONTINUED)                                                      

FEDERAL NATIONAL MORTGAGE                                                       
   ASSOCIATION (CONTINUED)                                                      
   4.228% due 03/01/2034 (b)                     $       47,871   $       47,159
   4.25% due 08/15/2010                                 495,000          483,759
   4.375% due 03/15/2013                                760,000          735,907
   4.625% due 06/01/2010                                330,000          326,208
   4.739% due 03/01/2035 (b)                            784,457          774,084
   4.90% due 05/01/2035                                 551,999          548,521
   5.20% due 11/08/2010                                 305,000          303,352
   5.50% due 10/01/2017 to 09/01/2034                 2,271,118        2,252,451
   5.85% due 02/01/2036                                 450,325          454,686
   6.00% due 06/01/2014 to 10/01/2033                 1,147,423        1,161,747
   6.07% due 05/12/2016                                 355,000          358,804
   6.22% due 04/01/2036                                 867,550          877,251
   6.25% due 02/01/2011                                 275,000          287,524
   6.50% due 06/01/2017 to 07/01/2031                   898,199          919,703
   6.625% due 11/15/2030                                240,000          288,180
   7.50% due 07/25/2041                                 180,826          187,804
                                                                  --------------
                                                                      10,740,657
GOVERNMENT NATIONAL MORTGAGE                                                    
   ASSOCIATION - 0.15%                                                          
   5.125% due 12/20/2029 (b)                             15,166           15,269
   6.00% due 07/15/2029                                 110,038          111,688
   6.50% due 06/15/2029 to 04/15/2031                   245,236          252,243
                                                                  --------------
                                                                         379,200
                                                                  --------------
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS                                        
   (Cost $13,300,234)                                             $   13,176,544
                                                                  --------------
FOREIGN GOVERNMENT OBLIGATIONS - 6.62%                                          

AUSTRALIA - 0.33%                                                               
Commonwealth of Australia                                                       
   7.50% due 09/15/2009                        AUD    1,070,000          835,443

AUSTRIA - 0.38%                                                                 
Republic of Austria, Series 98, Class 1                                         
   5.00% due 01/15/2008                        EUR      555,000          716,268
   5.25% due 01/04/2011                                 185,000          249,538
                                                                  --------------
                                                                         965,806
BELGIUM - 0.14%                                                                 
Kingdom of Belgium                                                              
   5.75% due 03/28/2008                                 280,000          365,845

CANADA - 0.21%                                                                  
Government of Canada                                                            
   3.00% due 06/01/2007                        CAD      610,000          543,103

FINLAND - 0.11%                                                                 
Government of Finland                                                           
   5.00% due 07/04/2007                        EUR      113,000          144,806
   5.75% due 02/23/2011                                 110,000          151,455
                                                                  --------------
                                                                         296,261
FRANCE - 0.90%                                                                  
Government of France                                                            
   3.50% due 07/12/2009                                 295,000          373,357
   3.75% due 04/25/2021                                 200,000          250,888

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
FOREIGN GOVERNMENT OBLIGATIONS                                                  
  (CONTINUED)                                                                   

FRANCE (CONTINUED)                                                              
Government of France (continued)                                                
   4.75% due 04/25/2035                        EUR       95,000   $      137,079
   5.50% due 04/25/2029                                 405,000          633,227
   5.50% due 04/25/2007                                 420,000          538,407
   5.50% due 04/25/2010                                 275,000          370,562
                                                                  --------------
                                                                       2,303,520
GERMANY - 2.07%                                                                 
Federal Republic of Germany                                                     
   3.50% due 10/10/2008                                 590,000          747,688
   3.75% due 01/04/2015                                  80,000          102,010
   3.75% due 01/04/2009                                 145,000          184,699
   4.50% due 07/04/2009                                 890,000        1,155,283
   4.75% due 07/04/2034                                 400,000          578,033
   5.00% due 07/04/2012                                 175,000          237,373
   5.25% due 07/04/2010                                 225,000          301,605
   6.00% due 01/04/2007                                 880,000        1,123,502
   6.25% due 01/04/2024                                 105,000          172,478
   6.50% due 07/04/2027                                 400,000          691,552
                                                                  --------------
                                                                       5,294,223
ITALY - 0.32%                                                                   
Republic of Italy                                                               
   4.50% due 05/01/2009                                 210,000          271,969
   5.25% due 08/01/2011                                 400,000          541,653
                                                                  --------------
                                                                         813,622
JAPAN - 1.14%                                                                   
Government of Japan                                                             
   0.50% due 06/20/2007                        JPY  143,000,000        1,212,311
   0.50% due 12/10/2014                              64,000,000          523,124
   0.90% due 12/22/2008                               9,500,000           80,907
   1.00% due 06/10/2016                              55,000,000          462,387
   1.30% due 06/20/2011                              29,000,000          248,326
   1.90% due 06/20/2025                              35,000,000          286,427
   2.30% due 06/20/2035                              12,000,000           98,879
                                                                  --------------
                                                                       2,912,361
NETHERLANDS - 0.24%                                                             
Kingdom of Netherlands                                                          
   4.00% due 01/15/2037                        EUR      175,000          225,211
   5.00% due 07/15/2011                                 285,000          383,064
                                                                  --------------
                                                                         608,275
SWEDEN - 0.07%                                                                  
Kingdom of Sweden                                                               
   6.75% due 05/05/2014                        SEK    1,050,000          172,966
   8.00% due 08/15/2007                                 100,000           14,233
                                                                  --------------
                                                                         187,199
UNITED KINGDOM - 0.71%                                                          
Government of United Kingdom                                                    
   4.75% due 03/07/2020                        GBP      185,000          356,458
   4.75% due 09/07/2015                                 305,000          579,031

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
FOREIGN GOVERNMENT OBLIGATIONS                                                  
   (CONTINUED)                                                                  

UNITED KINGDOM (CONTINUED)                                                      
Government of United Kingdom (continued)                                        
   5.00% due 03/07/2012                        GBP      460,000   $      874,430
                                                                  --------------
                                                                       1,809,919
                                                                  --------------
TOTAL FOREIGN GOVERNMENT OBLIGATIONS                                            
   (Cost $16,889,359)                                             $   16,935,577
                                                                  --------------
CORPORATE BONDS - 2.94%                                                         

CANADA - 0.02%                                                                  
Anadarko Finance Company, Series B                                              
   6.75% due 05/01/2011                          $       40,000           42,029

FRANCE - 0.01%                                                                  
France Telecom SA                                                               
   7.75% due 03/01/2011                                  30,000           32,867

GERMANY - 0.07%                                                                 
KfW Bankengruppe, EMTN                                                          
   4.75% due 12/07/2010                        GBP      100,000          185,095

LUXEMBOURG - 0.06%                                                              
Telecom Italia Capital SA                                                       
   5.25% due 11/15/2013                          $       80,000           75,750
   6.375% due 11/15/2033                                 90,000           84,170
                                                                  --------------
                                                                         159,920
UNITED KINGDOM - 0.11%                                                          
Abbey National PLC                                                              
   7.95% due 10/26/2029                                  25,000           31,464
Lloyds TSB Bank PLC, Series EMTN                                                
   6.625% due 03/30/2015                       GBP       10,000           20,495
Royal Bank of Scotland Group PLC                                                
   9.118% due 03/31/2049                         $       65,000           72,550
Royal Bank of Scotland PLC                                                      
   9.625% due 06/22/2015                       GBP       60,000          145,926
                                                                  --------------
                                                                         270,435
UNITED STATES - 2.67%                                                           
Abbott Laboratories                                                             
   5.60% due 05/15/2011                          $      110,000          111,958
Allergan, Inc.                                                                  
   5.75% due 04/01/2016                                 135,000          136,971
American General Finance Corp.                                                  
   5.375% due 10/01/2012 (a)                             30,000           29,900
AT&T Corp.                                                                      
   8.00% due 11/15/2031 (b)                              45,000           55,001
AT&T Wireless Services, Inc.                                                    
   8.75% due 03/01/2031                                  30,000           38,352
Avalonbay Communities, Inc.                                                     
   7.50% due 08/01/2009                                  15,000           15,885
Avon Products, Inc.                                                             
   7.15% due 11/15/2009                                  25,000           26,361
Bank of America Corp.                                                           
   7.40% due 01/15/2011 (a)                             130,000          140,696
Bank One Corp.                                                                  
   7.875% due 08/01/2010                                125,000          136,284
Bellsouth Corp.                                                                 
   6.55% due 06/15/2034 (a)                              35,000           35,058

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

UNITED STATES (CONTINUED)                                                       
Boeing Capital Corp.                                                            
   6.10% due 03/01/2011 (a)                      $       50,000   $       51,791
Bristol-Myers Squibb Company                                                    
   5.75% due 10/01/2011                                  30,000           30,559
Burlington Northern Santa Fe Corp.                                              
   7.082% due 05/13/2029                                 25,000           28,457
Capital One Financial Corp.                                                     
   5.50% due 06/01/2015                                 105,000          102,962
Cisco Systems, Inc.                                                             
   5.50% due 02/22/2016 (a)                             130,000          131,034
Citigroup, Inc.                                                                 
   5.00% due 09/15/2014                                 166,000          161,730
   5.625% due 08/27/2012                                165,000          168,003
Citigroup, Inc., Series E, MTN                                                  
   5.50% due 11/18/2015                        GBP       30,000           57,520
Comcast Cable Communications, Inc.                                              
   6.75% due 01/30/2011 (a)                      $      105,000          110,311
Computer Sciences Corp.                                                         
   3.50% due 04/15/2008 (a)                              35,000           33,979
Conagra, Inc.                                                                   
   6.75% due 09/15/2011 (a)                              30,000           31,670
Coors Brewing Company                                                           
   6.375% due 05/15/2012                                 30,000           31,196
Countrywide Funding Corp., MTN                                                  
   3.25% due 05/21/2008 (a)                              75,000           72,674
Credit Suisse First Boston USA, Inc.                                            
   6.50% due 01/15/2012 (a)                              95,000          100,084
DaimlerChrysler N.A. Holding Corp.                                              
   4.05% due 06/04/2008                                 185,000          180,654
Devon Financing Corp., ULC                                                      
   6.875% due 09/30/2011 (a)                             50,000           53,210
Dominion Resources, Inc.                                                        
   5.95% due 06/15/2035 (a)                              75,000           72,824
Duke Capital LLC                                                                
   5.668% due 08/15/2014                                 90,000           89,126
EOP Operating, LP                                                               
   7.00% due 07/15/2011                                  25,000           26,464
Erac USA Finance Company                                                        
   7.35% due 06/15/2008                                  55,000           56,728
Exelon Generation Company LLC                                                   
   5.35% due 01/15/2014 (a)                              30,000           29,549
First Union National Bank                                                       
   7.80% due 08/18/2010                                  35,000           38,038
FirstEnergy Corp.                                                               
   6.45% due 11/15/2011 (a)                             105,000          109,533
Ford Motor Credit Company                                                       
   5.80% due 01/12/2009                                 730,000          694,972
Fortune Brands, Inc.                                                            
   5.375% due 01/15/2016 (a)                            125,000          119,233
General Electric Capital Corp.                                                  
   6.75% due 03/15/2032                                  50,000           57,152
General Electric Capital Corp.,                                                 
   Series A, MTN                                                                
   6.00% due 06/15/2012 (a)                             275,000          285,724
General Motors Acceptance Corp.                                                 
   6.875% due 09/15/2011                                110,000          109,417

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

UNITED STATES (CONTINUED)                                                       
Goldman Sachs Group, Inc.                                                       
   6.875% due 01/15/2011 (a)                     $      185,000   $      196,076
Harley Davidson Funding Corp. MTN                                               
   3.625% due 12/15/2008                                 25,000           24,194
HSBC Finance Corp.                                                              
   6.75% due 05/15/2011                                 130,000          137,774
ICI Wilmington, Inc.                                                            
   4.375% due 12/01/2008                                 80,000           78,188
International Lease Finance Corp.                                               
   3.50% due 04/01/2009                                 135,000          129,459
John Deere Capital Corp.                                                        
   7.00% due 03/15/2012 (a)                              35,000           37,777
Johnson Controls, Inc.                                                          
   5.50% due 01/15/2016                                  75,000           73,290
JPMorgan Chase & Company                                                        
   6.75% due 02/01/2011 (a)                              80,000           84,602
Kinder Morgan Energy Partners LP                                                
   5.125% due 11/15/2014                                 90,000           85,548
   5.80% due 03/15/2035 (a)                             135,000          122,812
Kraft Foods, Inc.                                                               
   5.625% due 11/01/2011                                 65,000           65,672
Lockheed Martin Corp.                                                           
   6.15% due 09/01/2036                                  25,000           26,197
Miller Brewing Company                                                          
   5.50% due 08/15/2013                                  75,000           74,293
Morgan Stanley                                                                  
   6.75% due 04/15/2011                                 150,000          158,585
News America, Inc.                                                              
   6.20% due 12/15/2034 (a)                              45,000           42,981
Norfolk Southern Corp.                                                          
   5.257% due 09/17/2014 (a)                             80,000           79,521
Pacific Gas & Electric Company                                                  
   6.05% due 03/01/2034 (a)                              50,000           50,291
Pemex Project Funding Master Trust                                              
   8.00% due 11/15/2011                                  30,000           32,940
PPL Capital Funding, Inc.                                                       
   4.33% due 03/01/2009                                  30,000           29,195
Progress Energy, Inc.                                                           
   7.00% due 10/30/2031 (a)                              35,000           39,182
Prologis, REIT                                                                  
   5.625% due 11/15/2015 (a)                             90,000           89,290
Residential Capital Corp.                                                       
   6.125% due 11/21/2008 (a)                            135,000          135,528
Safeway, Inc.                                                                   
   7.25% due 02/01/2031 (a)                              25,000           26,761
Sprint Capital Corp.                                                            
   8.75% due 03/15/2032 (a)                              85,000          103,657
Teva Pharmaceutical Finance LLC                                                 
   5.55% due 02/01/2016                                  20,000           19,638
Time Warner, Inc.                                                               
   7.625% due 04/15/2031                                 35,000           38,663
TXU Energy Company, LLC                                                         
   7.00% due 03/15/2013                                  35,000           36,746
UnitedHealth Group, Inc.                                                        
   5.80% due 03/15/2036                                 105,000          103,106

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

UNITED STATES (CONTINUED)                                                       
Valero Energy Corp.                                                             
   7.50% due 04/15/2032                          $       90,000   $      104,257
Washington Mutual Bank, Series BKNT                                             
   5.95% due 05/20/2013 (a)                             270,000          275,612
Washington Mutual, Inc.                                                         
   5.625% due 01/15/2007                                140,000          140,065
Waste Management, Inc.                                                          
   7.375% due 08/01/2010                                 35,000           37,514
Wells Fargo Bank NA                                                             
   6.45% due 02/01/2011 (a)                             285,000          299,297
Wyeth                                                                           
   5.50% due 03/15/2013 (b)                              35,000           35,161
Xcel Energy, Inc.                                                               
   7.00% due 12/01/2010                                  35,000           37,099
                                                                  --------------
                                                                       6,812,031
                                                                  --------------
TOTAL CORPORATE BONDS (Cost $7,582,529)                           $    7,502,377
                                                                  --------------
ASSET BACKED SECURITIES - 0.96%                                                 

UNITED STATES - 0.82%                                                           
Home Equity Mortgage                                                            
   Trust, Series 2006-3, Class A2                                               
   5.594% due 09/25/2036 (b)                            500,000          501,875
                                                                  --------------
TOTAL ASSET BACKED SECURITIES                                                   
(Cost $2,461,704)                                                 $    2,457,959
                                                                  --------------
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS - 5.07%                                                             

UNITED KINGDOM - 0.19%                                                          
Mound Financing PLC, Series 2005-4A,                                            
   Class 2B                                                                     
   5.6994% due 02/08/2042 (b)                           500,000          500,692

UNITED STATES - 4.88%                                                           
Adjustable Rate Mortgage Trust,                                                 
   Series 2006-1, Class 5A1                                                     
   6.1111% due 03/25/2036 (b)                           459,251          463,339
Banc of America Commercial Mortgage, Inc.,                                      
   Series 2002-PB2, Class C                                                     
   6.349% due 06/11/2035                                345,000          362,514
Countrywide Home Loan Mortgage Pass                                             
   Through Trust, Series 2006-HYB1,                                             
   Class 1A1                                                                    
   5.3977% due 03/20/2036 (b)                           443,037          443,392
Credit Suisse Mortgage Capital Certificates,                                    
   Series 2006-2, Class 3A1                                                     
   6.50% due 03/25/2036                                 466,349          469,646
CS First Boston Mortgage Securities Corp.,                                      
   Series 2003-27, Class IXA1                                                   
   7.00% due 11/25/2033                                  19,297           19,772
CS First Boston Mortgage Securities Corp.,                                      
   Series 2005-12, Class 1A1                                                    
   6.50% due 01/25/2036                                 428,724          434,629
CS First Boston Mortgage                                                        
   Securities Corp., Series 2005-11,                                            
   Class 4A1                                                                    
   7.00% due 12/25/2035                                 397,631          405,823
Federal Home Loan Mortgage Corp., REMICS,                                       
   Series 2006-3174, Class CD                                                   
   5.50% due 05/15/2032                                 525,000          520,175

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         

UNITED STATES (CONTINUED)                                                       
Federal Home Loan Mortgage Corp., REMICS,                                       
   Series 2006-3205, Class PC                                                   
   6.00% due 09/15/2032                          $      400,000   $      405,225
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3149, Class PC                                                   
   6.00% due 10/15/2031                                 600,000          609,171
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3164, Class NC                                                   
   6.00% due 12/15/2032                                 475,000          482,726
Federal Home Loan Mortgage Corp.,                                               
   Series 2006-3178, Class MC                                                   
   6.00% due 04/15/2032                                 475,000          480,548
Federal Home Loan Mortgage                                                      
   Corp., Series 2005-3062, Class HD                                            
   5.00% due 06/15/2031                                 500,000          486,876
First Horizon Alternative Mortgage                                              
   Securities, Series 2004-AA3, Class A1                                        
   5.3246% due 09/25/2034 (b)                            91,257           91,213
First Union Lehman Brothers Mortgage Trust,                                     
   Series 1997-C2, Class A3                                                     
   6.65% due 11/18/2029                                  94,543           95,229
Four Times Square Trust,                                                        
   Series 2000-4TS, Class A1                                                    
   7.69% due 04/15/2015                                 159,801          167,155
Four Times Square Trust, Series 2000-4TS,                                       
   Class C                                                                      
   7.86% due 04/15/2015                                 500,000          543,802
GS Mortgage Securities Corp. II,                                                
   Series 2006-CC1, Class A                                                     
   5.5219% due 03/21/2046 (b)                           550,000          546,557
GS Mortgage Securities Corp. II,                                                
   Series 2006-RR2, Class A1                                                    
   5.8158% due 06/23/2046 (b)                           550,000          556,150
GS Mortgage Securities Corp.,                                                   
   Series 1998-GLII, Class A1                                                   
   6.312% due 04/13/2031                                 59,027           59,198
GSR Mortgage Loan Trust,                                                        
   Series 2005-4F, Class 3A1                                                    
   6.50% due 04/25/2020                                 326,896          336,042
Indymac Index Mortgage Loan Trust,                                              
   Series 2005-AR27, Class 3A3                                                  
   5.6219% due 12/25/2035 (b)                           450,000          451,828
JP Morgan Alternative Loan Trust,                                               
   Series 2006-A4, Class A7                                                     
   6.30% due 09/25/2036 (b)                             525,000          538,411
JPMorgan Commercial Mortgage Finance Corp.,                                     
   Series 1999-C8, Class A2                                                     
   7.40% due 07/15/2031                                 182,226          190,041
LB Commercial Conduit Mortgage Trust,                                           
   Series 1999-C1, Class A1                                                     
   6.41% due 06/15/2031                                   6,465            6,463
Mach One 2004 Trust, Series 2004-1A,                                            
   Class A1                                                                     
   3.89% due 05/28/2040                                 299,629          291,005
Merrill Lynch Credit Corp. Mortgage                                             
   Investors, Inc.,                                                             
   Series 2003-D, Class XA1                                                     
   1.00% IO due 08/25/2028 (b)                          481,544            3,011

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         

UNITED STATES (CONTINUED)                                                       
Merrill Lynch Mortgage Investors, Inc.,                                         
   Series 2006-A1, Class 1A1                                                    
   5.9065% due 03/25/2036 (b)                    $      668,875   $      674,907
MLCC Mortgage Investors, Inc.,                                                  
   Series 2006-2, Class 4A                                                      
   5.8018% due 05/25/2036 (b)                           652,348          648,577
Morgan Stanley Dean Witter                                                      
   Capital I, Series 2000-LIFE, Class A2                                        
   7.57% due 11/15/2036                                 143,968          152,599
Morgan Stanley Mortgage Loan                                                    
   Trust, Series 2004-4, Class 2A                                               
   6.4441% due 09/25/2034 (b)                           124,147          125,738
Morgan Stanley Mortgage Loan                                                    
   Trust, Series 2006-1AR, Class 2A                                             
   6.0412% due 02/25/2036 (b)                           399,398          403,974
Nomura Asset Securities Corp.,                                                  
   Series 1996-MD5, Class A4                                                    
   8.1942% due 04/13/2039 (b)                            45,116           45,598
Structured Asset Securities Corp.,                                              
   Series 2002-23XS, Class A7                                                   
   6.08% due 11/25/2032                                 150,000          148,844
TBW Mortgage Backed Pass Through                                                
   Certificates, Series 2006-2, Class 7A1                                       
   7.00% due 07/25/2036                                 786,536          810,109
                                                                  --------------
                                                                      12,470,287
                                                                  --------------
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                       
   (Cost $13,011,572)                                             $   12,970,979
                                                                  --------------
ASSET BACKED SECURITIES - 0.96%                                                 

CAYMAN ISLANDS - 0.14%                                                          
G-Force CDO, Ltd. Series 2006-1A, Class A3                                      
   5.60% due 09/27/2046                                 375,000          369,648

UNITED STATES - 0.82%                                                           
Countrywide Asset-Backed Certificates,                                          
   Series 2004-SD1, Class A1                                                    
   5.67% due 06/25/2033 (b)                              14,453           14,508
First Franklin Mortgage Loan Asset Backed                                       
   Certificates, Series 2005-FFA, Class B3                                      
   6.507% due 03/25/2025                                600,000          579,801
Greenpoint Home Equity Loan Trust,                                              
   Series 2004-3, Class A                                                       
   5.56% due 03/15/2035 (b)                              39,395           39,613
GSAMP Trust, Series 2006-S3, Class A2                                           
   5.769% due 05/25/2036                                450,000          451,406
GSAMP Trust, Series 2006-S5, Class A2                                           
   5.658% due 09/25/2036                                500,000          501,108
                                                                  --------------
                                                                       2,088,311
                                                                  --------------
TOTAL ASSET BACKED SECURITIES                                                   
  (Cost $2,461,704)                                               $    2,457,959
                                                                  --------------
SHORT TERM INVESTMENTS - 8.13%                                                  
Government of Japan                                                             
   0.50% due 03/20/2007                        JPY   48,000,000   $      407,212

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL ALLOCATION TRUST (CONTINUED)                                             

                                                                [Download Table]

                                                 SHARES OR                    
                                             PRINCIPAL AMOUNT       VALUE     
                                             ----------------  -------------- 
                                                                              
SHORT TERM INVESTMENTS (CONTINUED)                                            
State Street Navigator Securities                                             
   Lending Prime Portfolio (c)                 $   20,385,976  $   20,385,976 
                                                               -------------- 
TOTAL SHORT TERM INVESTMENTS                                                  
   (Cost $20,798,048)                                          $   20,793,188 
                                                               -------------- 
REPURCHASE AGREEMENTS - 5.39%                                                 
Repurchase Agreement with State                                               
   Street Corp. dated 09/29/2006 at                                           
   3.95% to be repurchased at                                                 
   $13,779,534 on 10/02/2006,                                                 
   collateralized by $13,675,000                                              
   Federal Home Loan Mortgage                                                 
   Corp., 5.75% due 05/23/2011                                                
   (valued at $14,051,063, including                                          
   interest) (c)                               $   13,775,000  $   13,775,000 
                                                               -------------- 
TOTAL REPURCHASE AGREEMENTS                                                   
   (Cost $13,775,000)                                          $   13,775,000 
                                                               -------------- 
TOTAL INVESTMENTS (GLOBAL ALLOCATION TRUST)                                   
   (COST $257,244,322) - 108.11%                               $  276,432,051 
LIABILITIES IN EXCESS OF OTHER ASSETS                                         
   - (8.11)%                                                      (20,741,838)
                                                               -------------- 
TOTAL NET ASSETS - 100.00%                                     $  255,690,213 
                                                               ============== 

The portfolio had the following five top industry concentrations as of September
30, 2006 (as a percentage of total net assets):                                 

                                                                [Download Table]
                                                                
Financial Services                                         7.89%
Banking                                                    6.15%
Mutual Funds                                               5.01%
Insurance                                                  4.02%
Pharmaceuticals                                            2.48%

GLOBAL BOND TRUST                                                               

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
PREFERRED STOCKS - 0.26%                                                        

UNITED STATES - 0.26%                                                           
DG Funding Trust *                                          236   $    2,475,050
                                                                  --------------
TOTAL PREFERRED STOCKS (Cost $2,501,600)                          $    2,475,050
                                                                  --------------
U.S. TREASURY OBLIGATIONS - 4.72%                                               

TREASURY INFLATION PROTECTED                                                    
SECURITIES (D) - 1.93%                                                          
   0.875% due 04/15/2010 (a)***                  $    3,643,644        3,452,779
   1.625% due 01/15/2015 ***                          2,130,880        2,026,834
   1.875% due 07/15/2015 ***                            732,137          708,914
   2.00% due 07/15/2014 to 01/15/2026 ***             6,777,752        6,634,109
   3.375% due 01/15/2007 (a)***                       5,778,270        5,728,161
                                                                  --------------
                                                                      18,550,797
U.S. TREASURY BONDS - 6.37%                                                     
   5.25% due 02/15/2029 ***                             875,000          925,244
   6.375% due 08/15/2027 ***                          1,650,000        1,980,774
   8.125% due 08/15/2019 (a)*** ****                 14,100,000       18,594,375

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                 SHARES OR                     
                                             PRINCIPAL AMOUNT        VALUE     
                                             ----------------   -------------- 
                                                                               
U.S. TREASURY OBLIGATIONS                                                      
(CONTINUED)                                                                    

U.S. TREASURY BONDS (CONTINUED)                                                
   8.75% due 05/15/2017 (a)***                 $    2,400,000   $    3,204,561 
   8.875% due 08/15/2017 (a)***                       925,000        1,249,690 
   8.875% due 02/15/2019 ***                       25,600,000       35,344,000 
                                                                -------------- 
                                                                    61,298,644 
U.S. TREASURY NOTES - -4.45%                                                   
   zero coupon due 11/21/2006                         680,000           10,625 
   3.25% due 08/15/2007 (a)***                      4,030,000        3,971,440 
   3.50% due 02/15/2010 (a)***                      1,100,000        1,062,230 
   3.875% due 05/15/2010                            1,700,000        1,659,957 
   3.875% due 09/15/2010 (a)***                        30,000           29,233 
   4.875% due 05/31/2011 to 08/15/2016            (47,100,000)     (47,977,855)
   5.125% due 05/15/2016                           (1,500,000)      (1,556,016)
                                                                -------------- 
                                                                   (42,800,387)
U.S. TREASURY STRIPS - 0.87%                                                   
   zero coupon due 05/15/2017 to                                               
   02/15/2019                                      14,800,000        8,430,366 
                                                                -------------- 
TOTAL U.S. TREASURY OBLIGATIONS                                                
   (Cost $47,558,963)                                           $   45,479,420 
                                                                -------------- 
U.S. GOVERNMENT AGENCY OBLIGATIONS - 11.57%                                    

FEDERAL NATIONAL MORTGAGE                                                      
ASSOCIATION - 10.86%                                                           
   2.125% due 10/09/2007 ***                 JPY  100,000,000          861,531 
   4.19% due 11/01/2034 (b)***                 $    5,755,663        5,667,456 
   5.00% due 12/01/2034 to 09/01/2035 ***           1,595,287        1,564,722 
   5.00% TBA **                                     2,000,000        1,921,876 
   5.50% due 04/01/2024 to 08/01/2035 ***          44,764,688       44,096,108 
   5.50% TBA **                                   (20,400,000)     (20,094,000)
   6.00% due 05/15/2008 to 03/01/2033 ***             990,383        1,004,948 
   6.00% TBA **                                    52,000,000       52,227,500 
   6.50% TBA **                                    17,000,000       17,308,125 
                                                                -------------- 
                                                                   104,558,266 
GOVERNMENT NATIONAL MORTGAGE                                                   
ASSOCIATION - 0.35%                                                            
   5.125% due 11/20/2023 to                                                    
      10/20/2026 (b)***                               162,168          163,167 
   5.25% due 01/20/2030 (b)***                         86,595           86,882 
   5.375% due 02/20/2024 to                                                    
      06/20/2030 (b)***                               289,355          292,069 
   6.00% due 08/20/2034 ***                         2,817,899        2,838,414 
                                                                -------------- 
                                                                     3,380,532 
SMALL BUSINESS ADMINISTRATION - 0.19%                                          
   4.12% due 03/01/2014 ***                         1,513,028        1,417,783 
   6.64% due 02/01/2011 ***                           173,621          180,285 
   7.22% due 11/01/2020 ***                           242,724          256,505 
                                                                -------------- 
                                                                     1,854,573 
TENNESSEE VALLEY AUTHORITY - 0.17%                                             
   4.875% due 12/15/2016 ***                        1,600,000        1,600,253 
                                                                -------------- 
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS                                       
   (Cost $108,993,738)                                          $  111,393,624 
                                                                -------------- 

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
FOREIGN GOVERNMENT OBLIGATIONS - 43.37%                                         

AUSTRALIA - 0.02%                                                               
Commonwealth of Australia                                                       
   5.75% due 06/15/2011 ***                    AUD      250,000   $      187,089

AUSTRIA - 0.57%                                                                 
Republic of Austria                                                             
   5.25% due 01/04/2011 ***                    EUR    2,900,000        3,911,679
   5.50% due 01/15/2010 ***                           1,200,000        1,609,583
                                                                  --------------
                                                                       5,521,262
CANADA - 0.15%                                                                  
Province of British Columbia, Canada                                            
   6.35% due 06/18/2031 ***                    CAD      125,000          143,330
   7.25% due 06/01/2007 ***                             250,000          228,732
Province of Quebec, Canada                                                      
   5.75% due 12/01/2036 ***                           1,000,000        1,050,278
                                                                  --------------
                                                                       1,422,340
FINLAND - 0.29%                                                                 
Republic of Finland                                                             
   5.75% due 02/23/2011 ***                    EUR    2,030,000        2,795,039

FRANCE - 4.88%                                                                  
Government of France                                                            
   3.00% due 07/12/2008 ***                           3,000,000        3,767,779
   3.40% due 07/25/2029 ***                             338,046          567,505
   4.00% due 04/25/2055 ***                             200,000          259,508
   4.00% due 04/25/2014 ***                             400,000          518,178
   4.00% due 10/25/2014 ***                           4,500,000        5,830,471
   4.00% due 04/25/2009 ***                              40,000           51,238
   4.75% due 04/25/2035 ***                             500,000          721,469
   5.00% due 10/25/2011 ***                           4,550,000        6,133,307
   5.25% due 04/25/2008 ***                           5,830,000        7,575,001
   5.50% due 04/25/2010 ***                           5,190,000        6,993,511
   5.75% due 10/25/2032 ***                           8,900,000       14,585,138
                                                                  --------------
                                                                      47,003,105
GERMANY - 18.00%                                                                
Federal Republic of Germany                                                     
   zero coupon due 11/23/2006                           153,000            1,941
   3.50% due 10/09/2009 ***                           1,800,000        2,277,908
   3.75% due 07/04/2013 ***                           4,200,000        5,358,492
   4.25% due 01/04/2014 ***                          10,300,000       13,543,921
   4.25% due 07/04/2014 ***                          23,200,000       30,553,789
   4.50% due 07/04/2009 ***                          10,190,000       13,227,341
   4.50% due 01/04/2013 ***                           1,040,000        1,381,277
   4.75% due 07/04/2034 ***                           1,600,000        2,312,131
   5.00% due 01/04/2012 ***                           6,600,000        8,909,559
   5.00% due 07/04/2012                               2,600,000        3,526,682
   5.25% due 01/04/2011 ***                          15,975,000       21,545,727
   5.25% due 01/04/2008 ***                             125,000          161,693
   5.25% due 07/04/2010                               4,000,000        5,361,876
   5.375% due 01/04/2010 ***                          1,500,000        2,004,367
   5.50% due 01/04/2031 ***                           1,200,000        1,891,391
   5.625% due 01/04/2028 ***                         13,600,000       21,440,421
   6.00% due 07/04/2007 ***                             720,000          929,240
   6.25% due 01/04/2024 ***                           5,900,000        9,691,629
   6.25% due 01/04/2030 ***                           8,975,000       15,362,522

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
FOREIGN GOVERNMENT OBLIGATIONS                                                  
(CONTINUED)                                                                     

GERMANY (CONTINUED)                                                             
Federal Republic of Germany (continued)                                         
   6.50% due 07/04/2027 ***                    EUR    8,000,000   $   13,831,033
                                                                  --------------
                                                                     173,312,940
GREECE - 0.04%                                                                  
Hellenic Republic (Greece)                                                      
   8.80% due 06/19/2007 ***                             293,470          385,588

ITALY - 0.10%                                                                   
Republic of Italy                                                               
   4.25% due 11/01/2009                                 140,000          180,682
   5.50% due 11/01/2010                                 560,000          759,103
                                                                  --------------
                                                                         939,785
JAPAN - 13.20%                                                                  
Government of Japan                                                             
   0.50% due 06/20/2013 ***                    JPY  130,000,000        1,042,475
   0.70% due 09/20/2008 ***                       1,130,000,000        9,592,761
   0.90% due 12/22/2008 ***                         365,000,000        3,108,535
   1.00% due 06/10/2016                           1,277,620,000       10,740,995
   1.10% due 03/21/2011 ***                         360,000,000        3,057,837
   1.50% due 09/20/2014 ***                         660,000,000        5,592,264
   1.50% due 03/20/2014 ***                         630,000,000        5,362,939
   1.50% due 03/20/2015 ***                       1,700,000,000       14,348,533
   1.50% due 03/20/2011                           1,380,000,000       11,925,282
   1.60% due 06/20/2014 ***                          70,000,000          599,064
   1.60% due 09/20/2014                           1,680,000,000       14,341,306
   1.60% due 09/20/2013 ***                         400,000,000        3,443,444
   1.80% due 03/22/2010 ***                         180,000,000        1,572,213
   2.30% due 06/20/2035 ***                       3,410,000,000       28,098,198
   2.30% due 05/20/2030 ***                         165,000,000        1,385,378
   2.40% due 03/20/2034 ***                         450,000,000        3,782,586
   2.50% due 09/20/2035 ***                       1,060,000,000        9,092,006
                                                                  --------------
                                                                     127,085,816
NETHERLANDS - 0.37%                                                             
Kingdom of Netherlands                                                          
   5.00% due 07/15/2011 ***                    EUR      100,000          134,409
   5.50% due 01/15/2028 ***                           2,190,000        3,404,695
                                                                  --------------
                                                                       3,539,104
NEW ZEALAND - 0.03%                                                             
Government of New Zealand Bond, Series 1106                                     
   8.00% due 11/15/2006 ***                    NZD      500,000          326,742

SPAIN - 0.86%                                                                   
Kingdom of Spain                                                                
   4.20% due 07/30/2013 ***                    EUR      100,000          130,813
   4.75% due 07/30/2014 ***                             600,000          817,427
   5.15% due 07/30/2009 ***                           2,910,000        3,843,321
   6.15% due 01/31/2013 ***                           2,420,000        3,492,616
                                                                  --------------
                                                                       8,284,177
SWEDEN - 0.43%                                                                  
Kingdom of Sweden                                                               
   5.00% due 01/28/2009 ***                    SEK   14,200,000        2,008,100
   5.25% due 03/15/2011 (a)***                       14,350,000        2,096,224
                                                                  --------------
                                                                       4,104,324

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
FOREIGN GOVERNMENT OBLIGATIONS                                                  
(CONTINUED)                                                                     

UNITED KINGDOM - 4.43%                                                          
Government of United Kingdom                                                    
   4.00% due 03/07/2009 ***                    GBP      270,000   $      495,799
   4.25% due 06/07/2032 ***                             500,000          949,438
   4.75% due 06/07/2010 ***                          11,000,000       20,584,042
   5.00% due 03/07/2012                               1,900,000        3,611,777
   5.00% due 03/07/2008                               3,700,000        6,934,436
   5.75% due 12/07/2009 ***                              25,000           48,094
   6.00% due 12/07/2028 ***                             335,000          782,718
   7.25% due 12/07/2007 ***                           1,210,000        2,323,230
   8.00% due 12/07/2015 ***                             500,000        1,176,208
   8.00% due 09/27/2013 ***                           2,540,000        5,703,753
                                                                  --------------
                                                                      42,609,495
                                                                  --------------
TOTAL FOREIGN GOVERNMENT OBLIGATIONS                                            
   (Cost $ 413,094,811)                                           $  417,516,806
                                                                  --------------
CORPORATE BONDS - 13.60%                                                        

CAYMAN ISLANDS - 1.46%                                                          
ASIF II Jersey, Ltd.                                                            
   4.4529% due 06/15/2007 (b)***               CAD    3,200,000        2,869,036
Mizuho Finance, Ltd.                                                            
   1.525% due 12/31/2049 ***                   JPY  200,000,000        1,739,961
MUFG Capital Finance 1, Ltd.                                                    
   6.346% due 07/29/2049 (b)***                  $    2,900,000        2,923,522
MUFG Capital Finance 2                                                          
   4.85% due 12/31/2049 (b)***                 EUR    2,900,000        3,611,778
Pylon, Ltd., Class B Catastrophe Bond                                           
   6.016% due 12/29/2008 (b)                            600,000          758,754
Transocean, Inc.                                                                
   5.5906% due 09/05/2008 ***                    $    1,300,000        1,300,021
Vita Capital, Ltd., 2003-1                                                      
   6.83% due 01/01/2007 (b)                             900,000          901,953
                                                                  --------------
                                                                      14,105,025
DENMARK - 0.01%                                                                 
Nykredit                                                                        
   6.00% due 10/01/2029 ***                    DKK      312,421           55,330
Unikredit Realred                                                               
   6.00% due 07/01/2029 ***                              41,217            7,310
                                                                  --------------
                                                                          62,640
FRANCE - 0.24%                                                                  
Axa, SA                                                                         
   3.75% due 01/01/2017 ***                    EUR      231,700          691,509
BNP Paribas, Series EMTN                                                        
   5.25% due 01/23/2014 (b)***                          125,000          162,717
France Telecom SA, Series REGS                                                  
   6.75 due 03/14/2008 ***                              250,000          329,530
   7.5 due 03/14/2011 ***                      GBP      405,000          818,920
GIE PSA Tresorerie                                                              
   5.875% due 09/27/2011 ***                   EUR      250,000          341,479
                                                                  --------------
                                                                       2,344,155
GERMANY - 0.11%                                                                 
Kreditanstalt Fuer Wiederaufbau                                                 
   5.00% due 07/04/2011 ***                             250,000          334,952

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

GERMANY (CONTINUED)                                                             
Landesbank Baden Wurttemberg                                                    
   5.50% due 04/02/2007 ***                    EUR      200,000   $      255,879
Lbank Rheinland Pfalz Giro                                                      
   4.75% due 04/04/2008 ***                             330,000          425,165
                                                                  --------------
                                                                       1,015,996
IRELAND - 0.14%                                                                 
Bank of Ireland                                                                 
   6.45% due 02/10/2010 ***                           1,000,000        1,366,587

ITALY - 0.11%                                                                   
Edison SpA, EMTN                                                                
   5.125% due 12/10/2010 ***                            210,000          277,241
Telecom Italia SpA, Series EMTN                                                 
   6.25% due 02/01/2012 ***                             580,000          784,916
                                                                  --------------
                                                                       1,062,157
JAPAN - 1.71%                                                                   
Asahi Finance, Ltd.                                                             
   1.65375% due 12/31/2049 ***                 JPY  600,000,000        5,092,801
Bank of Tokyo-Mitsubishi UFJ, Ltd., Series                                      
   EMTN                                                                         
   3.50% due 12/16/2015 (b)***                 EUR      900,000        1,112,185
Mizuho Finance                                                                  
   1.06% due 09/28/2049 ***                    JPY  200,000,000        1,694,915
Mizuho Finance, Ltd.                                                            
   1.668% due 04/27/2049 ***                        100,000,000          862,812
Mizuho Trust & Banking Company                                                  
   2.404% due 04/27/2009 ***                        100,000,000          878,712
Resona Bank, Ltd.                                                               
   5.85% due 09/29/2049 (b)***                   $    2,700,000        2,639,631
Sumitomo Mitsui Banking Corp.                                                   
   4.375% due 10/27/2014 (b)***                EUR      250,000          319,457
   5.625% due 07/29/2049 (b)***                  $      500,000          486,610
Sumitomo Mitsui Banking Corp., Series EMTN                                      
   1.245% due 12/01/2049 (b)***                JPY  300,000,000        2,561,694
   1.266% due 12/31/2049 ***                        100,000,000          847,880
                                                                  --------------
                                                                      16,496,697
JERSEY CHANNEL ISLANDS - 0.05%                                                  
HSBC Capital Funding LP, Series REGS                                            
   8.03% due 12/29/2049 (b)***                 EUR      350,000          524,974

LUXEMBOURG - 0.02%                                                              
Telecom Italia Finance SA, Series EMTN                                          
   7.25 due 04/20/2011 ***                              125,000          176,982

NETHERLANDS - 0.33%                                                             
Deutsche Telekom International Finance BV                                       
   7.50% due 05/29/2007 ***                             125,000          162,217
   8.125% due 05/29/2012 ***                            180,000          270,518
E.ON International Finance BV, Series EMTN                                      
   5.75% due 05/29/2009 ***                             590,000          782,928
Essent NV, Series EMTN                                                          
   4.50% due 06/25/2013 ***                             770,000        1,003,320
RWE Finance BV, Series EMTN                                                     
   6.125% due 10/26/2012 ***                            125,000          176,166
Siemens Financieringsmaatschappij NV,                                           
   Series 144A                                                                  
   5.4663% due 08/14/2009 (b)***                 $      800,000          799,454
                                                                  --------------
                                                                       3,194,603

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

SPAIN - 0.17%                                                                   
Banesto Banco De Emisiones                                                      
   2.197% due 10/04/2006 ***                   EUR    1,300,000   $    1,649,246

SWEDEN - 0.17%                                                                  
Spintab AB, Series 168                                                          
   6.00% due 04/20/2009 ***                    SEK    5,000,000          720,509
Swedbank ForeningsSparbanken                                                    
   5.99% due 12/11/2011 (b)***                   $      900,000          900,909
                                                                  --------------
                                                                       1,621,418
TUNISIA - 0.19%                                                                 
Banque Centrale de Tunisie                                                      
   4.50% due 06/22/2020 ***                    EUR    1,500,000        1,804,973

UNITED KINGDOM - 0.93%                                                          
Anglian Water Services Finance PLC, Series                                      
   EMTN                                                                         
   4.625% due 10/07/2013 ***                            250,000          325,155
AWG PLC                                                                         
   5.375% due 07/02/2009 ***                            400,000          525,577
Cadbury Schweppes Investments PLC,                                              
   Series EMTN                                                                  
   4.25% due 06/30/2009 ***                             675,000          860,335
HBOS PLC                                                                        
   5.92% due 09/29/2049 (b)***                   $    2,800,000        2,708,768
Lloyds TSB Bank PLC                                                             
   5.625% due 07/15/2049 (b)***                EUR    1,020,000        1,346,068
NGG Finance PLC                                                                 
   6.125% due 08/23/2011 ***                            250,000          344,272
Royal Bank of Scotland PLC, Series EMTN                                         
   4.875% due 03/26/2009 ***                            125,000          162,465
Tate & Lyle International Finance PLC,                                          
   Series 144A                                                                  
   5.00% due 11/15/2014 ***                      $      400,000          377,444
Vodafone Group, PLC                                                             
   5.4269% due 06/29/2007 (b)***                      2,300,000        2,299,827
                                                                  --------------
                                                                       8,949,911
UNITED STATES - 7.96%                                                           
ACE INA Holdings, Inc.                                                          
   5.875% due 06/15/2014 (a)***                         500,000          504,781
Atlantic & Western Re, Ltd., Series A                                           
   11.5081% due 01/09/2007 (b)                        2,000,000        1,979,680
Autozone, Inc.                                                                  
   5.875% due 10/15/2012 ***                            800,000          798,923
Bank of America Corp., MTN                                                      
   3.625% due 03/03/2008 ***                   EUR      250,000          316,473
BellSouth Corp.                                                                 
   5.58% due 08/15/2008 (b)***                   $    2,300,000        2,300,442
Boston Scientific Corp.                                                         
   5.45% due 06/15/2014 ***                             400,000          382,659
   6.00% due 06/15/2011 (a)***                        1,700,000        1,710,147
   6.40% due 06/15/2016 (a)***                        1,600,000        1,613,578
Charter One Bank N.A., Series BKNT                                              
   5.54% due 04/24/2009 (b)***                        7,000,000        7,002,975
CIT Group, Inc., Series MTN                                                     
   5.5463% due 08/17/2009 (b)***                      3,000,000        3,000,993
CNA Financial Corp.                                                             
   6.00% due 08/15/2011 ***                           1,600,000        1,622,410
ConocoPhillips Australia Funding Company                                        
   5.6072% due 04/09/2009 (b)***                      4,200,000        4,203,772

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

UNITED STATES (CONTINUED)                                                       
CVS Corp.                                                                       
   5.75% due 08/15/2011 ***                      $      300,000   $      303,905
DaimlerChrysler N.A. Holding Corp.                                              
   4.875% due 06/15/2010 ***                            300,000          291,481
   5.64% due 03/07/2007 (b)***                        2,400,000        2,400,494
   5.87% due 09/10/2007 (b)***                        3,800,000        3,808,238
DaimlerChrysler N.A. Holding Corp.,                                             
   Series MTN                                                                   
   5.75% due 09/08/2011 ***                             400,000          398,120
Dominion Resources, Inc.                                                        
   4.125% due 02/15/2008 ***                            250,000          246,013
Echostar DBS Corp.                                                              
   5.75% due 10/01/2008 ***                             300,000          297,375
El Paso Corp.                                                                   
   7.625% due 08/16/2007 (a)***                         300,000          303,750
Ford Motor Credit Company                                                       
   6.34% due 03/21/2007 (b)***                        1,400,000        1,396,562
Ford Motor Credit Company, Series EMTN                                          
   4.875% due 05/17/2007 ***                   EUR      230,000          290,951
General Electric Capital Corp.                                                  
   6.625% due 02/04/2010 ***                   NZD      250,000          160,839
General Electric Capital Corp., MTN                                             
   5.43% due 12/12/2008 (b)***                   $    1,300,000        1,300,928
General Electric Capital Corp., Series 144A                                     
   4.625% due 09/15/2066 (b)***                EUR      100,000          128,304
Georgia Pacific Corp., Term B                                                   
   7.345% due 12/20/2012 (b)*** (f)              $    1,990,000        1,992,567
Health Care Property Investors, Inc., Series                                    
   MTN                                                                          
   5.95% due 09/15/2011 ***                             300,000          301,158
HSBC Finance Corp., Series MTN                                                  
   5.48% due 06/19/2009 (b)***                        3,800,000        3,803,169
JP Morgan & Company, Inc., MTN Series A                                         
   5.341% due 02/15/2012 (b)***                         360,000          373,918
JP Morgan Chase Capital XX                                                      
   6.55% due 09/29/2036 ***                           1,300,000        1,311,101
KFW International Finance, Inc.                                                 
   1.75% due 03/23/2010 ***                    JPY  185,000,000        1,613,250
   5.75% due 01/15/2008 ***                      $    5,500,000        5,544,291
Loews Corp.                                                                     
   5.25% due 03/15/2016 ***                             400,000          387,828
Masco Corp.                                                                     
   5.875% due 07/15/2012 ***                            300,000          298,981
May Department Stores Company/The                                               
   4.80% due 07/15/2009 ***                             300,000          294,347
Merrill Lynch & Company, Inc., Series MTN                                       
   5.4919% due 08/14/2009 (b)***                        400,000          399,992
MGM Mirage Resorts, Inc.                                                        
   6.75% due 08/01/2007 ***                             600,000          603,000
Mizuho JGB Investment LLC                                                       
   9.87% due 12/31/2049 (b)***                          560,000          599,783
Mizuho JGB Investment LLC, Series REGS                                          
   9.87% due 12/31/2049 (b)***                          400,000          432,340
Mizuho Preferred Capital Company, LLC                                           
   8.79% due 12/29/2049 (b)***                          100,000          105,339
News America Holdings, Inc.                                                     
   6.75% due 01/09/2038 ***                             125,000          129,496

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
CORPORATE BONDS (CONTINUED)                                                     

UNITED STATES (CONTINUED)                                                       
Nisource Finance Corp.                                                          
   5.40% due 07/15/2014 ***                      $      400,000   $      387,101
PLD International Finance LLC                                                   
   4.375% due 04/13/2011 ***                   EUR      350,000          445,396
Reynolds American, Inc.                                                         
   7.3125% due 05/11/2012 (b)(f)                 $    2,000,000        2,007,820
SB Treasury Company LLC                                                         
   zero coupon, Step up to 10.925% on                                           
   06/30/2008 due 12/29/2049 (b)                      1,300,000        1,381,483
SB Treasury Company LLC, Series REGS                                            
   9.40% due 12/29/2049 (b)                           1,100,000        1,169,359
Shackleton B Event Linked Loan                                                  
   13.467% due 08/01/2008 (b)                         2,000,000        2,015,000
Shackleton C Event Linked Loan                                                  
   12.967% due 08/01/2008 (b)                         2,000,000        1,990,000
Shackleton Re Ltd., Series 144A                                                 
   13.4888% due 02/07/2008 (b)(f)                     2,000,000        2,009,930
SLM Corp., Series A                                                             
   5.00% due 04/15/2015 (a)***                          375,000          361,332
Sprint Capital Corp.                                                            
   6.375% due 05/01/2009 ***                             50,000           51,206
Tokai Preferred Capital Company LLC, Series                                     
   REGS                                                                         
   9.98% due 12/29/2049 (b)***                        1,100,000        1,178,543
Toyota Motor Credit Corp., Series MTNB                                          
   5.3719% due 10/12/2007 (b)***                      2,500,000        2,501,015
US Bancorp                                                                      
   5.3538% due 04/28/2009 (b)***                      2,500,000        2,500,407
Viacom, Inc.                                                                    
   5.75% due 04/30/2011 ***                           1,200,000        1,197,607
Wal-Mart Stores, Inc.                                                           
   5.25% due 09/28/2035 ***                    GBP      250,000          501,572
Wells Fargo Company                                                             
   3.50% due 04/04/2008 (a)(c)***                $      250,000          244,057
Xerox Credit Corp.                                                              
   2.00% due 06/06/2007 ***                    JPY  200,000,000        1,701,356
                                                                  --------------
                                                                      76,597,537
                                                                  --------------
TOTAL CORPORATE BONDS (Cost $128,203,903)                         $  130,972,901
                                                                  --------------
MUNICIPAL BONDS - 0.42%                                                         

CALIFORNIA - 0.14%                                                              
Golden State Tobacco Securitization Corp.,                                      
   California, Series 2003-A-1                                                  
   6.25% due 06/01/2033 ***                      $    1,000,000        1,101,340
Los Angeles California Wastewater                                               
   Systems Revenue, Series A                                                    
   5.00% due 06/01/2027 ***                             200,000          209,690
Metropolitan Water District Southern                                            
   California Waterworks Revenue                                                
   5.00% due 10/01/2036 ***                              45,000           47,078
                                                                  --------------
                                                                       1,358,108
ILLINOIS - 0.03%                                                                
City of Chicago, Series 1286                                                    
   4.75% due 01/01/2030 ***                             230,000          243,922

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
MUNICIPAL BONDS (CONTINUED)                                                     

IOWA - 0.06%                                                                    
Tobacco Settlement Authority of Iowa,                                           
   Series A                                                                     
   6.50% due 06/01/2023 ***                      $      595,000   $      592,275

KENTUCKY - 0.01%                                                                
Louisville & Jefferson Kentucky Sewer,                                          
   Series A                                                                     
   5.00% due 05/15/2036 ***                             100,000          105,361

NEW YORK - 0.13%                                                                
New York City Municipal Water Finance                                           
   Authority                                                                    
   4.75% due 06/15/2038 ***                             200,000          213,540
New York, New York City Transitional                                            
   Financial Authority                                                          
   5.00% due 02/01/2028 ***                             285,000          299,991
Tobacco Settlement Financing Corp.                                              
   5.25% due 06/01/2013 ***                             700,000          717,871
                                                                  --------------
                                                                       1,231,402
TEXAS - 0.02%                                                                   
Harris County Texas                                                             
   5.00% due 08/01/2033 ***                             200,000          203,430

VIRGINIA - 0.03%                                                                
Tobacco Settlement Financing Corp.                                              
   5.625% due 06/01/2037 ***                            300,000          316,125
                                                                  --------------
TOTAL MUNICIPAL BONDS (Cost $3,836,193)                           $    4,050,623
                                                                  --------------
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS - 6.09%                                                             

CAYMAN ISLANDS - 0.00%                                                          
SHL Corp., Ltd., Series 1999-1A, Class A2                                       
   0.81% due 12/25/2024 (b)***                 JPY    4,209,600           35,324

IRELAND - 0.14%                                                                 
Emerald Mortgages PLC, Series 2, Class A                                        
   3.385% due 04/15/2028 (b)***                EUR      380,768          484,148
Lusitano Motgages PLC, Series 1, Class A                                        
   3.601% due 12/15/2035 (b)***                         596,370          762,109
Paris Residential Funding PLC, Series 1X,                                       
   Class A                                                                      
   2.51% due 07/25/2011 (b)***                           77,098           97,917
                                                                  --------------
                                                                       1,344,174
ITALY - 0.78%                                                                   
Seashell Securities PLC, Series 2001-II,                                        
   Class A                                                                      
   3.424% due 07/25/2028 (b)***                         702,984          894,918
Siena Mortgages, Series 2003-4, Class A2                                        
   3.563% due 12/16/2038 (b)***                       5,160,004        6,568,317
                                                                  --------------
                                                                       7,463,235
NETHERLANDS - 0.54%                                                             
Arena BV, Series 2000-I, Class A                                                
   6.10% due 11/15/2062 (b)***                          500,000          683,042
Atomium Mortgage Finance BV,                                                    
   Series 2003-I, Class A                                                       
   2.314% due 07/01/2034 (b)***                         214,818          272,801
Delphinus BV, Series 2001-II, Class A1                                          
   3.545% due 11/28/2031 (b)***                         500,000          635,467
Delphinus BV, Series 2002-I, Class A1                                           
   3.374% due 04/25/2092 (b)***                         302,723          385,624
Delphinus BV, Series 2003-I, Class A1                                           
   2.41% due 04/25/2093 (b)***                          500,000          637,751

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         

NETHERLANDS (CONTINUED)                                                         
Dutch MBS BV, Series X, Class B                                                 
   3.343% due 10/02/2079 (b)***                EUR      988,989   $    1,260,327
Dutch MBS BV, Series XI, Class A1                                               
   3.401% due 11/02/2035 (b)***                         336,801          427,840
Dutch Mortgage Portfolio Loans, B.V.,                                           
   Series III, Class A                                                          
   3.484% due 11/20/2035 (b)***                         320,441          408,319
Holland Euro-Denominated Mortgage                                               
   Backed Series, Series 2, Class A                                             
   3.362% due 04/18/2012 (b)***                         388,522          493,835
                                                                  --------------
                                                                       5,205,006
UNITED KINGDOM - 1.14%                                                          
Bauhaus Securities Ltd., Series 1, Class A2                                     
   3.466% due 10/30/2052 (b)***                         752,246          956,723
Dolerite Funding PLC, Series 1, Class A                                         
   5.6725% due 08/20/2032 (b)***                 $      114,722          114,722
Haus, Ltd., Series 2000-1A, Class A2                                            
   2.403% due 12/10/2037 (b)***                EUR      882,517        1,124,941
Holmes Financing PLC, Series 6, Class 3A                                        
   3.33% due 10/15/2009 (b)***                          800,000        1,015,815
Holmes Financing, Series 1, Class 3A2                                           
   3.35% due 07/15/2010 (b)***                 GBP    1,400,000        1,778,640
Permanent Financing PLC,                                                        
   Series 2004-4, Class 5A2                                                     
   5.1563% due 06/10/2042 (b)***                      3,000,000        5,629,192
SRM Investment, Ltd., Series 3, Class A                                         
   3.475% due 08/26/2034 (b)***                EUR      252,962          321,532
                                                                  --------------
                                                                      10,941,565
UNITED STATES - 3.49%                                                           
American Home Mortgage Investment Trust,                                        
   Series 2004-3, Class 5A                                                      
   4.29% due 10/25/2034 (b)***                   $      288,288          282,713
Banc of America Mortgage Securities,                                            
   Series 2004-4, Class 1A9                                                     
   5.00% due 05/25/2034 ***                             655,204          646,500
Countrywide Home Loans,                                                         
   Series 2004-12, Class 14A2                                                   
   5.61% due 08/25/2034 (b)***                           82,351           82,384
Countrywide Home Loans,                                                         
   Series 2004-25, Class 1A1                                                    
   5.66% due 02/25/2035 (b)***                          185,455          186,121
Countrywide Home Loans,                                                         
   Series 2004-25, Class 2A1                                                    
   5.67% due 02/25/2035 (b)***                          275,928          277,205
Countrywide Mortgage Backed Securities,                                         
   Inc., Series 2004-7, Class 5A2                                               
   5.60% due 05/25/2034 (b)***                          461,723          461,851
Countrywide Mortgage Backed Securities,                                         
   Inc., Series 2005-2, Class 2A1                                               
   5.65% due 03/25/2035 (b)***                          441,761          442,937
Credit Suisse First Boston Mortgage                                             
   Securities Corp., Series 2002-AR13,                                          
   Class 3A                                                                     
   5.7018% due 05/25/2032 (b)***                         19,538           19,469

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         

UNITED STATES (CONTINUED)                                                       
Credit Suisse First Boston Mortgage                                             
    Securities Corp., Series 2002-P2,                                           
    Class A                                                                     
    5.66% due 03/25/2032 (b)***                  $       40,537   $       40,590
Credit Suisse First Boston Mortgage                                             
   Securities Corp., Series 2002-P3A,                                           
   Class A1                                                                     
   5.88% due 08/25/2033 (b)***                          101,020          101,511
Credit Suisse First Boston Mortgage                                             
   Securities Corp., Series 2003-8,                                             
   Class 5A1                                                                    
   6.50% due 04/25/2033 ***                             134,115          134,558
Credit Suisse First Boston Mortgage                                             
   Securities Corp., Series 2005-CN2A,                                          
   Class A1S                                                                    
   5.55% due 11/15/2019 (b)***                          245,907          246,048
CSAB Mortgage Backed Trust,                                                     
   Series 2006-1, Class A1A                                                     
   5.43% due 06/25/2036 (b)***                        1,274,706        1,275,162
FBR Securitization Trust, Series 2005-4,                                        
   Class AV21                                                                   
   5.45% due 10/25/2035 (b)***                          206,601          206,620
Federal Home Loan Mortgage Corp.                                                
   Structured Pass Through Securities,                                          
   Series T-62, Class 1A1                                                       
   5.632% due 10/25/2044 (b)***                       6,538,522        6,604,692
Federal Home Loan Mortgage Corp.,                                               
   Series 2003-2581, Class QG                                                   
   5.00% due 12/15/2031 ***                           2,500,000        2,380,710
Federal Home Loan Mortgage Corp.,                                               
   Series 2005-2922, Class EH                                                   
   4.50% due 07/15/2023 ***                           4,703,737        4,537,528
Federal Home Loan Mortgage Corp.,                                               
   Series 2005-3037, Class BC                                                   
   4.50% due 02/15/2020 ***                           7,208,207        7,004,039
Federal Home Loan Mortgage Corp.,                                               
   Series 2752, Class FM                                                        
   5.68% due 12/15/2030 (b)***                          509,055          509,918
Federal National Mortgage Association                                           
   5.73% due 09/25/2032 (b)***                           68,759           69,021
Federal National Mortgage Association,                                          
   Series 2003-26, Class AT                                                     
   5.00% due 11/25/2032 ***                           3,100,000        2,899,936
Federal National Mortgage Association,                                          
   Series 2004-W2, Class 5AF                                                    
   5.68% due 03/25/2044 (b)***                          294,925          295,170
First Alliance Mortgage Loan,                                                   
   Series 1997-4, Class A3                                                      
   5.56% due 12/20/2027 (b)***                           56,596           56,607
First Republic Mortgage Loan Trust,                                             
   Series 2001-FRB1, Class A                                                    
   5.68% due 11/15/2031 (b)***                          206,955          208,344
GMAC Mortgage Corp. Loan Trust,                                                 
   Series 2004-J4, Class A1                                                     
   5.50% due 09/25/2034 ***                             437,727          435,408
GS Mortgage Securities Corp.,                                                   
   Series 2003-1, Class A2                                                      
   6.03% due 01/25/2032 (b)***                          256,857          258,959
GS Mortgage Securities Corp.,                                                   
   Series 2004-SEA1, Class A1A                                                  
   5.52% due 10/25/2033 (b)***                            9,607            9,608

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COLLATERALIZED MORTGAGE                                                         
OBLIGATIONS (CONTINUED)                                                         

UNITED STATES (CONTINUED)                                                       
Master Adjustable Rate Mortgages Trust,                                         
   Series 2004-13, Class 3A2                                                    
   3.7859% due 11/21/2034 (b)***                 $       55,020   $       54,854
Mellon Residential Funding Corp.,                                               
   Series 2000-TBC3, Class A1                                                   
   5.77% due 12/15/2030 (b)***                          199,210          199,868
Merrill Lynch Credit Corp. Mortgage                                             
   Investors, Inc.,                                                             
   Series 1999-A, Class A                                                       
   5.71% due 03/15/2025 (b)***                          143,946          144,568
Sequoia Mortgage Trust, Series 2003-4,                                          
   Class 2A1                                                                    
   5.68% due 07/20/2033 (b)***                          702,189          707,657
Sequoia Mortgage Trust, Series 5, Class A                                       
   5.68% due 10/19/2026 (b)***                          156,446          156,610
Sequoia Mortgage Trust, Series 8, Class 2A                                      
   5.63% due 08/20/2032 (b)***                          277,150          277,173
Washington Mutual Mortgage Securities Corp.,                                    
   Series 2002-AR2, Class A                                                     
   5.427% due 02/27/2034 (b)***                         202,951          206,384
Washington Mutual Mortgage Securities Corp.,                                    
   Series 2002-S5, Class 1A1                                                    
   5.1062% due 10/25/2032 (b)***                         60,878           60,498
Washington Mutual Mortgage Securities Corp.,                                    
   Series 2003-R1, Class A1                                                     
   5.60% due 12/25/2027 (b)***                          542,744          542,534
Washington Mutual Mortgage Securities Corp.,                                    
   Series 2005-AR2, Class 2A1A                                                  
   5.64% due 01/25/2045 (b)***                          259,741          261,329
Washington Mutual Mortgage Securities Corp.,                                    
   Series 2005-AR6, Class 2A1A                                                  
   5.56% due 04/25/2045 (b)***                          510,300          511,582
Washington Mutual, Inc.,                                                        
   Series 2005-AR15, Class A1A1                                                 
   5.59% due 11/25/2045 (b)***                          801,014          803,726
                                                                  --------------
                                                                      33,600,392
                                                                  --------------
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                       
   (Cost $56,601,766)                                             $   58,589,696
                                                                  --------------
ASSET BACKED SECURITIES - 1.41%                                                 

UNITED STATES - 1.41%                                                           
Amortizing Residential Collateral Trust,                                        
   Series 2002-BC4, Class A                                                     
   5.62% due 07/25/2032 (b)***                            6,344            6,350
Amresco Residential Securities,                                                 
   Series 1999-1, Class A                                                       
   6.27% due 06/25/2029 (b)***                           60,419           62,222
Argent Securities, Inc.,                                                        
   Series 2005-W4, Class A1A1                                                   
   5.45% due 02/25/2036 (b)***                        2,589,347        2,589,696
Bear Stearns Asset Backed Securities, Inc.,                                     
   Series 2004-SD1, Class A1                                                    
   5.50% due 12/25/2042 (b)***                          125,184          125,200
FBR Securitization Trust, Series 2005-5,                                        
   Class AV21                                                                   
   5.45% due 11/25/2035 (b)***                          374,014          374,058
First NLC Trust, Series 2005-4, Class A1                                        
   5.45% due 02/25/2036 (b)***                          522,704          522,746

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
ASSET BACKED SECURITIES                                                         
(CONTINUED)                                                                     

UNITED STATES (CONTINUED)                                                       
Home Equity Asset Trust, Series 2002-1,                                         
   Class A4                                                                     
   5.63% due 11/25/2032 (b)***                   $        1,283   $        1,284
Indymac Residential Asset Backed Trust,                                         
   Series 2005-D, Class AII1                                                    
   5.43% due 03/25/2036 (b)***                          294,459          294,505
Residential Asset Mortgage Products, Inc.,                                      
   Series 2002-RS3, Class AII1                                                  
   5.89% due 06/25/2032 (b)***                           24,690           24,698
Residential Asset Securities Corp.,                                             
   Series 2002-KS4, Class AIIB                                                  
   5.58% due 07/25/2032 (b)***                          144,154          144,194
Residential Asset Securities Corp.,                                             
   Series 2005-AHL3, Class A1                                                   
   5.43% due 11/25/2035 (b)***                          249,176          249,217
Residential Asset Securities Corp.,                                             
   Series 2005-KS12, Class A1                                                   
   5.42% due 01/25/2036 (b)***                          151,729          151,757
Residential Asset Securities Mortgage,                                          
   Series 2002-KS2, Class AIIB                                                  
   5.87% due 04/25/2032 (b)***                           87,227           87,255
Soundview Home Equity Loan Trust,                                               
   Series 2005-OPT4, Class 2A1                                                  
   4.113% due 12/25/2035 ***                            275,230          275,273
Structured Asset Mortgage Investments, Inc.,                                    
   Series 2004-AR3, Class 1A2                                                   
   5.62% due 07/19/2034 (b)***                          496,223          496,489
Wells Fargo Home Equity Trust,                                                  
   Series 2005-2, Class AI1A                                                    
   5.56% due 10/25/2035 (b)(c)                        4,752,935        4,763,332
Wells Fargo Home Equity Trust,                                                  
   Series 2005-4, Class AII1                                                    
   5.45% due 12/25/2035 (b)(c)                        3,368,899        3,369,365
                                                                  --------------
                                                                      13,537,641
                                                                  --------------
TOTAL ASSET BACKED SECURITIES                                                   
   (Cost $13,533,758)                                             $   13,537,641
                                                                  --------------
SUPRANATIONAL OBLIGATIONS - 0.27%                                               

JAPAN - 0.09%                                                                   
Inter-American Development Bank                                                 
   1.90% due 07/08/2009 ***                    JPY  100,000,000          873,170

UNITED STATES - 0.18%                                                           
European Investment Bank                                                        
   5.3088% due 04/15/2008 (b)***                 $    1,742,175        1,743,484
                                                                  --------------
TOTAL SUPRANATIONAL OBLIGATIONS                                                 
   (Cost $2,574,328)                                              $    2,616,654
                                                                  --------------
OPTIONS - 0.67%                                                                 

UNITED STATES - 0.67%                                                           
Chicago Mercantile Exchange American                                            
   Purchase Put on Eurodollar                                                   
   Expiration 09/17/2007 at $90.50 *                    532,500            1,331
   Expiration 12/17/2007 at $91.25 *                    937,500            2,344
   Expiration 03/19/2007 at $92.25 *                  1,297,500            3,244
   Expiration 12/18/2006 at $94.125 *                 1,437,500            3,594

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
OPTIONS (CONTINUED)                                                             

UNITED STATES (CONTINUED)                                                       
Over The Counter European Style Call                                            
   Expiration 10/04/2006 at $4.50 *                  11,600,000   $            0
   Expiration 10/04/2006 at $4.50 *                  20,900,000                0
   Expiration 10/18/2006 at $4.50 *                  79,100,000                0
   Expiration 12/22/2006 at $4.80 *                  25,500,000           18,284
   Expiration 06/06/2007 at $4.85 *                   7,000,000           33,429
   Expiration 03/08/2007 at $5.00 *                  44,000,000          154,660
   Expiration 03/08/2007 at $5.00 *                 102,000,000          358,530
   Expiration 03/08/2007 at $5.00 *                  12,000,000           42,180
   Expiration 12/20/2007 at $5.00 *                  81,700,000          608,567
   Expiration 05/17/2007 at $5.00 *                  16,300,000           72,147
   Expiration 05/11/2007 at $5.00 *                  22,000,000           95,071
   Expiration 06/15/2007 at $5.00 *                  13,500,000           66,288
   Expiration 06/15/2007 at $5.00 *                  14,100,000           69,234
   Expiration 04/19/2007 at $5.08 *                  20,700,000          106,170
   Expiration 05/08/2007 at $5.15 *                 103,600,000          643,770
   Expiration 05/09/2007 at $5.19 *                 904,600,000        2,587,156
   Expiration 06/30/2007 at $5.50 *                 134,100,000        1,589,312
                                                                  --------------
                                                                       6,455,311
                                                                  --------------
TOTAL OPTIONS (Cost $5,113,625)                                   $    6,455,311
                                                                  --------------
SHORT TERM INVESTMENTS - 27.45%                                                 
Bank of America Corp.                                                           
   5.265% due 12/06/2006 ***                     $    2,500,000   $    2,475,869
   5.275% due 12/01/2006 ***                         25,900,000       25,668,501
Barclays U.S. Funding LLC                                                       
   5.28% due 11/22/2006 ***                          25,900,000       25,702,469
Countrywide Bank N.A., Series CD                                                
   5.36% due 08/16/2007 (b)***                        4,700,000        4,717,625
Danske Corp.                                                                    
   5.265% due 12/27/2006 ***                            700,000          691,093
   5.355% due 10/26/2006 ***                         20,800,000       20,722,650
Fortis Funding LLC                                                              
   5.37% due 10/24/2006 ***                           2,600,000        2,591,080
Ixis Corp.                                                                      
   5.36% due 10/25/2006 ***                          25,000,000       24,910,667
Kingdom of Netherlands                                                          
   1.00% due 10/31/2006 ***                    EUR    5,200,000        6,581,014
Skandinaviska Enskilda Banken                                                   
   5.27% due 11/16/2006 ***                      $   25,400,000       25,228,959
Societe Generale North America, Inc.                                            
   5.245% due 01/08/2007 ***                         23,400,000       23,062,484
   5.29% due 12/18/2006 ***                           1,800,000        1,779,369
   5.37% due 10/10/2006 ***                             700,000          699,060
   5.375% due 10/11/2006 ***                          2,600,000        2,596,118
State Street Navigator Securities Lending                                       
   Prime Portfolio (c)                               48,507,430       48,507,430
Time Warner, Inc.                                                               
   5.39% due 01/25/2007 ***                           3,300,000        3,242,686
Total SA                                                                        
   5.36% due 10/02/2006 ***                          26,400,000       26,396,069
U.S. Treasury Bills                                                             
   zero coupon due 12/14/2006 ***                     2,440,000        2,415,875
   zero coupon due 11/30/2006 *** ****                2,160,000        2,142,144
   4.797% due 11/30/2006 *** ****                       620,000          615,043

GLOBAL BOND TRUST (CONTINUED)                                                   

                                                                [Download Table]

                                                 SHARES OR                    
                                             PRINCIPAL AMOUNT       VALUE     
                                             ----------------  -------------- 
                                                                              
SHORT TERM INVESTMENTS (CONTINUED)                                            
U.S. Treasury Bills (continued)                                               
   4.82% due 11/30/2006 *** ****               $      110,000  $      109,116 
   4.845% due 11/30/2006 *** ****                     110,000         109,112 
   4.87% due 11/30/2006 *** ****                       10,000           9,919 
UBS Finance (Delaware) LLC                                                    
   5.245% due 01/08/2007 ***                        1,200,000       1,182,692 
   5.34% due 10/02/2006 ***                         2,300,000       2,299,659 
   5.375% due 10/11/2006 ***                        5,400,000       5,391,938 
UniCredito Italiano SpA                                                       
   2.307% due 12/13/2007 ***                        2,200,000       2,199,420 
   5.226% due 12/03/2007 ***                        2,200,000       2,199,247 
                                                               -------------- 
TOTAL SHORT TERM INVESTMENTS                                                  
   (Cost $264,239,252)                                         $  264,247,308 
                                                               -------------- 
REPURCHASE AGREEMENTS - 1.04%                                                 
Lehman Brothers Tri-Party                                                     
   Repurchase Agreement dated 09/29/2006 at                                   
   5.05% to be repurchased at $5,002,104 on                                   
   10/02/2006, collateralized by $5,070,000                                   
   U.S. Treasury Bonds, 4.875% due                                            
   08/08/2031 (valued at $5,123,025,                                          
   including interest) (c)***                  $    5,000,000  $    5,000,000 
Repurchase Agreement with State Street Corp.                                  
   dated 09/29/2006 at 3.95% to be                                            
   repurchased at $4,988,642 on 10/02/2006,                                   
   collateralized by $5,090,000 Federal                                       
   National Mortgage Association,                                             
   6.25% due 02/28/2017 (valued at                                            
   $5,090,000, including interest)(c)***            4,987,000       4,987,000 
                                                               -------------- 
TOTAL REPURCHASE AGREEMENTS                                                   
   (Cost $9,987,000)                                           $    9,987,000 
                                                               -------------- 
TOTAL INVESTMENTS (GLOBAL BOND TRUST)                                         
   (COST $1,056,238,937) - 110.87%                             $1,067,322,034 
LIABILITIES IN EXCESS OF OTHER ASSETS                                         
   - (10.87)%                                                    (104,649,765)
                                                               -------------- 
TOTAL NET ASSETS - 100.00%                                     $  962,672,269 
                                                               ============== 

GLOBAL REAL ESTATE TRUST                                                        

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS - 96.14%                                                          

AUSTRALIA - 8.16%                                                               
Abacus Property Group                                 1,434,712   $    1,734,227
Aspen Group (a)                                       1,028,221        1,369,465
Centro Properties Group, Ltd.                           737,450        4,429,499
Centro Retail Group                                   1,210,133        1,634,323
Charter Hall Group *                                  1,605,990        1,893,329
FKP Property Group                                      104,678          441,296
General Property Trust, Ltd. (a)                        893,668        3,134,009
Lend Lease Corp.                                        142,483        1,703,146
Macquarie DDR Trust                                   2,228,195        2,020,020
Macquarie Goodman Group, Ltd. (a)                       902,917        4,392,599
Stockland Company, Ltd. (a)                             821,067        4,533,530

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL REAL ESTATE TRUST (CONTINUED)                                            

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

AUSTRALIA (CONTINUED)                                                           
Westfield Group (a)                                     266,075        3,736,370
                                                                  --------------
                                                                      31,021,813
CANADA - 4.67%                                                                  
Brookfield Properties Corp.                             157,150        5,550,538
Canadian Apartment Properties, REIT                     114,000        1,869,674
Canadian Real Estate Investment Trust                   163,750        3,920,485
Morguard Real Estate Investment Trust                   177,450        1,813,962
RioCan Real Estate Investment Trust                     214,150        4,610,600
                                                                  --------------
                                                                      17,765,259
CHINA - 0.88%                                                                   
China Overseas Land & Investment, Ltd.                2,566,000        1,979,267
Shui On Land Ltd *                                    1,982,000        1,374,660
                                                                  --------------
                                                                       3,353,927
DENMARK - 0.63%                                                                 
Sjaelso Gruppen AS (a)                                    8,000        2,402,178

FINLAND - 0.73%                                                                 
Technopolis Oyj                                         350,000        2,775,173

FRANCE - 3.10%                                                                  
Fonciere Des Regions (a)                                 13,500        2,032,950
Klepierre SA (a)                                         14,000        2,097,587
Orco Property Group (a)                                  20,000        2,491,630
Unibail (a)                                              24,500        5,150,278
                                                                  --------------
                                                                      11,772,445
GERMANY - 0.89%                                                                 
Colonia Real Estate AG * (a)                             53,000        2,032,619
Patrizia Immobilien AG *                                 50,000        1,337,158
                                                                  --------------
                                                                       3,369,777
GREECE - 0.25%                                                                  
Eurobank Properties Real Estate Investment                                      
   Company                                               49,650          954,906

HONG KONG - 5.88%                                                               
China Resources Land, Ltd.                            3,700,000        2,493,070
Hang Lung Properties, Ltd.                              590,408        1,259,379
Link, REIT *                                          1,585,000        3,299,541
Sun Hung Kai Properties, Ltd.                         1,402,000       15,285,679
                                                                  --------------
                                                                      22,337,669
ITALY - 1.71%                                                                   
Beni Stabili SpA                                      1,050,000        1,172,233
Pirelli & C Real Estate SpA                              18,000        1,070,538
Risanamento SpA                                         560,000        4,262,667
                                                                  --------------
                                                                       6,505,438
JAPAN - 14.56%                                                                  
Aeon Mall Company, Ltd. (a)                              71,000        3,754,576
Diamond City Company, Ltd.                               56,000        2,652,881
Japan Retail Fund, REIT                                     152        1,120,678
Mitsubishi Estate Company, Ltd.                         790,000       17,272,881
Mitsui Fudosan Company, Ltd.                            670,000       15,245,339
Nippon Building Fund, Inc.                                  595        6,050,848

GLOBAL REAL ESTATE TRUST (CONTINUED)                                            

                                                                [Download Table]

                                                   SHARES OR                    
                                               PRINCIPAL AMOUNT        VALUE    
                                               ----------------   --------------
                                                                                
COMMON STOCKS (CONTINUED)                                                       

JAPAN (CONTINUED)                                                               
Nippon Commercial Investment Corp., REIT *                  186   $      751,882
Sumitomo Realty &                                                               
   Development Company, Ltd. (a)                        290,000        8,527,966
                                                                  --------------
                                                                      55,377,051
LUXEMBOURG - 0.42%                                                              
Prologis European Properties *                           85,225        1,589,375

NETHERLANDS - 0.48%                                                             
Eurocommercial Properties NV                             38,679        1,827,863

NORWAY - 0.37%                                                                  
NorGani Hotels ASA * (a)                                150,000        1,405,811

PHILIPPINES - 0.26%                                                             
Megaworld Corp.                                      26,093,000          996,986

SINGAPORE - 4.24%                                                               
CapitaLand, Ltd.                                        590,000        1,878,625
CapitaMall Trust (a)                                  1,870,000        2,994,830
CDL Hospitality Trusts, REIT *                        2,952,000        1,972,963
Hong Kong Land Holdings, Ltd. (a)                     1,936,000        7,511,680
The Ascott Group, Ltd.                                2,763,000        1,776,961
                                                                  --------------
                                                                      16,135,059
SPAIN - 0.54%                                                                   
Renta Corp Real Estate SA * (a)                          30,000        1,133,412
Riofisa SA * (a)                                         25,000          902,328
                                                                  --------------
                                                                       2,035,740
SWEDEN - 1.70%                                                                  
Castellum AB                                            284,665        3,211,298
Kungsleden AB                                            90,000        1,027,594
Lennart Wallenstam Byggnads AB                          150,000        2,225,428
                                                                  --------------
                                                                       6,464,320
UNITED KINGDOM - 14.63%                                                         
Big Yellow Group PLC                                    240,000        2,193,084
British Land Company PLC                                357,000        9,113,483
Dawnay Day Treveria PLC                                 900,000        1,301,636
Derwent Valley Holdings PLC                              84,000        2,869,089
Develica Deutschland, Ltd. *                          2,700,000        3,391,103
Equest Balkan Properties PLC *                          700,000        1,408,343
Great Portland Estates PLC                              275,000        3,113,794
Hammerson PLC                                           240,000        5,893,142
Land Securities Group PLC                               318,000       11,712,620
London Merchant Securities PLC                          300,000        1,348,921
Macau Property Opp. Fund, Ltd. *                        428,500          779,906
Minerva PLC *                                           475,000        2,684,741
Slough Estates PLC                                      430,000        5,351,702
Terrace Hill Group PLC                                  662,605          864,969
Unite Group PLC                                         415,000        3,599,976
                                                                  --------------
                                                                      55,626,509
UNITED STATES - 32.04%                                                          
AMB Property Corp., REIT                                 58,900        3,245,979
Apartment Investment & Management                                               
   Company, Class A, REIT                                73,370        3,992,062
Archstone-Smith Trust, REIT (a)                         146,160        7,956,950

The accompanying notes are an integral part of the financial statements.

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JOHN HANCOCK TRUST                                                              
PORTFOLIO OF INVESTMENTS - SEPTEMBER 30, 2006 (UNAUDITED) - CONTINUED           
(SHOWING PERCENTAGE OF TOTAL NET ASSETS)                                        

GLOBAL REAL ESTATE TRUST (CONTINUED)                                            

                                                                [Download Table]

                                                  SHARES OR                    
                                              PRINCIPAL AMOUNT       VALUE     
                                              ----------------  -------------- 
                                                                               
COMMON STOCKS (CONTINUED)                                                      

UNITED STATES (CONTINUED)                                                      
Avalon Bay Communities, Inc., REIT                      74,000  $    8,909,600 
BioMed Realty Trust, Inc., REIT                         25,360         769,422 
Boston Properties, Inc., REIT                           62,580       6,467,017 
Digital Realty Trust, Inc., REIT                        74,020       2,318,306 
Equity Lifestyle Properties, Inc., REIT (a)             42,490       1,942,218 
Equity Office Properties Trust, REIT                   206,400       8,206,464 
Equity Residential, REIT                                61,190       3,094,990 
Essex Property Trust, Inc., REIT                        26,760       3,248,664 
Extra Space Storage, Inc., REIT                         40,950         708,845 
Federal Realty Investment Trust, REIT                   48,250       3,584,975 
FelCor Lodging Trust, Inc., REIT                        60,680       1,216,634 
Host Hotels & Resorts, Inc., REIT                      317,680       7,284,402 
Innkeepers USA Trust, REIT                               9,950         162,085 
Kilroy Realty Corp., REIT                               18,990       1,430,707 
LTC Properties, Inc., REIT                              30,670         743,748 
Nationwide Health Properties, Inc., REIT                55,600       1,486,744 
ProLogis, REIT                                          74,380       4,244,123 
Public Storage, Inc., REIT                              64,460       5,542,915 
Regency Centers Corp., REIT (a)                         81,240       5,586,062 
Simon Property Group, Inc., REIT                       135,130      12,245,481 
SL Green Realty Corp., REIT                             41,800       4,669,060 
Sovran Self Storage, Inc., REIT                         10,350         574,943 
Starwood Hotels & Resorts Worldwide, Inc.               28,239       1,614,988 
Tanger Factory Outlet Centers, Inc., REIT               39,300       1,399,866 
Taubman Centers, Inc., REIT                             14,150         628,543 
The Macerich Company, REIT                              76,160       5,815,578 
Ventas, Inc., REIT                                      92,140       3,551,076 
Vornado Realty Trust, REIT                              84,260       9,184,340 
                                                                -------------- 
                                                                   121,826,787 
                                                                -------------- 
TOTAL COMMON STOCKS (Cost $344,531,764)                         $  365,544,086 
                                                                -------------- 
SHORT TERM INVESTMENTS - 11.06%                                                
State Street Navigator Securities                                              
   Lending Prime Portfolio (c)                    $ 42,048,306  $   42,048,306