UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811- 22441

John Hancock Hedged Equity & Income Fund
(Exact name of registrant as specified in charter)

601 Congress Street, Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)

Salvatore Schiavone

Treasurer

601 Congress Street

Boston, Massachusetts 02210
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-663-4497

Date of fiscal year end: December 31
     
 
Date of reporting period: September 30, 2017

ITEM 1. SCHEDULE OF INVESTMENTS



John Hancock

Hedged Equity & Income Fund

Quarterly portfolio holdings 9/30/17

jhnq_logo.jpg  

Fund’s investments  
As of 9-30-17 (unaudited)
        Shares Value
Common stocks 83.3%         $180,415,482
(Cost $172,866,153)          
Consumer discretionary 7.6%     16,421,188
Auto components 1.1%      
Aisan Industry Company, Ltd.     10,800 103,904
Aisin Seiki Company, Ltd.     9,600 506,138
Bridgestone Corp.     1,400 63,565
Exedy Corp.     5,800 176,759
Fuyao Glass Industry Group Company, Ltd., H Shares (A)     74,000 269,426
Keihin Corp.     11,700 200,330
Nissin Kogyo Company, Ltd.     9,400 168,271
NOK Corp.     9,100 203,563
Showa Corp.     12,860 158,080
Sumitomo Riko Company, Ltd.     10,100 101,659
Tokai Rika Company, Ltd.     10,900 215,663
Toyoda Gosei Company, Ltd.     7,800 184,332
Automobiles 0.6%      
Daimler AG     930 74,237
Ford Motor Company     18,134 217,064
Honda Motor Company, Ltd.     15,800 466,740
Mitsubishi Motors Corp.     31,850 252,167
Nissan Motor Company, Ltd.     6,600 65,384
Renault SA     1,263 124,099
Diversified consumer services 0.1%      
Allstar Co-Invest LLC (B)(C)(D)     236,300 0
Benesse Holdings, Inc.     2,700 97,413
New Oriental Education & Technology Group, Inc., ADR     531 46,866
Hotels, restaurants and leisure 1.3%      
Carnival Corp.     450 29,057
Darden Restaurants, Inc.     426 33,560
Las Vegas Sands Corp. (E)     39,964 2,564,090
McDonald's Corp.     1,382 216,532
OPAP SA     7,761 82,216
Household durables 1.4%      
Alpine Electronics, Inc.     3,700 67,400
Barratt Developments PLC     19,000 156,525
Berkeley Group Holdings PLC     906 45,152
Coway Company, Ltd.     388 31,894
Electrolux AB, Series B     13,777 468,911
Funai Electric Company, Ltd.     12,363 96,664
Garmin, Ltd.     1,856 100,168
Nikon Corp.     11,000 190,755
Persimmon PLC     41,379 1,432,018
Pioneer Corp. (D)     85,000 157,953
Taylor Wimpey PLC     100,334 262,970
Internet and direct marketing retail 0.0%      
Qliro Group AB (D)     34,220 81,316
Leisure products 0.1%      
Sankyo Company, Ltd.     8,630 275,369
Media 1.5%      
Avex Group Holdings, Inc.     9,500 129,190
Eutelsat Communications SA     1,170 34,635
2 JOHN HANCOCK Hedged Equity & Income Fund | QUARTERLY REPORT SEE NOTES TO FUND'S INVESTMENTS

 

        Shares Value
Consumer discretionary (continued)      
Media (continued)      
Fuji Media Holdings, Inc.     5,625 $80,126
Gendai Agency, Inc.     3,600 17,952
Metropole Television SA     1,940 44,871
Nippon Television Holdings, Inc.     5,760 101,184
ProSiebenSat.1 Media SE     4,149 141,584
Proto Corp.     2,100 37,812
RTL Group SA     2,797 211,886
SES SA     88,136 1,929,468
Telenet Group Holding NV (D)     2,882 190,769
Television Francaise 1     12,617 184,336
TV Asahi Holdings Corp.     3,660 73,081
Multiline retail 0.3%      
Harvey Norman Holdings, Ltd.     29,244 89,202
Kohl's Corp.     1,371 62,586
Macy's, Inc.     4,398 95,964
Marks & Spencer Group PLC     44,744 211,848
Next PLC     1,456 102,637
Target Corp.     1,251 73,822
Specialty retail 1.0%      
CECONOMY AG     7,411 87,270
Halfords Group PLC     30,786 144,586
Honeys Holdings Company, Ltd.     4,630 53,438
L Brands, Inc. (E)     34,496 1,435,379
Nishimatsuya Chain Company, Ltd.     3,600 40,297
PAL GROUP Holdings Company, Ltd.     3,100 96,138
The Gap, Inc.     1,377 40,663
The Home Depot, Inc.     222 36,310
USS Company, Ltd.     2,800 56,512
Xebio Holdings Company, Ltd.     7,800 152,739
Textiles, apparel and luxury goods 0.2%      
361 Degrees International, Ltd.     193,940 85,336
Daphne International Holdings, Ltd. (D)     350,000 28,888
Geox SpA     25,186 107,650
Pandora A/S     966 95,511
Sanyo Shokai, Ltd.     5,000 76,227
Xtep International Holdings, Ltd.     240,883 83,081
Consumer staples 5.0%     10,760,862
Beverages 0.3%      
PepsiCo, Inc.     1,812 201,911
The Coca-Cola Company     10,395 467,879
Food and staples retailing 0.3%      
Cawachi, Ltd.     2,500 59,835
J Sainsbury PLC     79,642 253,923
METRO AG (D)     9,125 192,887
Sysco Corp.     591 31,884
Wal-Mart Stores, Inc.     688 53,760
Wesfarmers, Ltd.     4,386 142,385
Food products 0.2%      
Marine Harvest ASA (D)     18,279 361,522
Household products 0.2%      
The Procter & Gamble Company     3,417 310,879
SEE NOTES TO FUND'S INVESTMENTS QUARTERLY REPORT | JOHN HANCOCK Hedged Equity & Income Fund 3

 

        Shares Value
Consumer staples (continued)      
Personal products 0.2%      
Unilever PLC     8,706 $503,897
Tobacco 3.8%      
Altria Group, Inc.     4,308 273,213
British American Tobacco PLC     31,503 1,972,205
Imperial Brands PLC     56,841 2,426,018
Japan Tobacco, Inc.     3,600 117,975
Philip Morris International, Inc. (E)     30,544 3,390,689
Energy 7.2%     15,704,610
Energy equipment and services 0.2%      
Core Laboratories NV     286 28,228
Fugro NV (D)     7,674 108,572
Helmerich & Payne, Inc.     634 33,038
Petrofac, Ltd.     11,057 66,797
Saipem SpA (D)     36,054 155,706
Oil, gas and consumable fuels 7.0%      
AltaGas, Ltd.     9,499 218,795
BP PLC     137,012 877,698
Chevron Corp.     3,105 364,838
Coal India, Ltd.     91,882 381,587
Eni SpA     29,456 487,841
Exxon Mobil Corp.     3,984 326,608
Gazprom PJSC, ADR     64,135 268,726
Inpex Corp.     11,700 124,638
Inter Pipeline, Ltd.     1,516 31,407
Japan Petroleum Exploration Company, Ltd.     7,100 153,869
KazMunaiGas Exploration Production JSC, GDR     10,024 99,238
LUKOIL PJSC, ADR     4,670 247,675
ONEOK, Inc.     12,198 675,891
Painted Pony Energy, Ltd. (D)     17,374 46,507
Petroleo Brasileiro SA, ADR (D)     15,665 157,277
Plains GP Holdings LP, Class A (D)     61,738 1,350,210
Royal Dutch Shell PLC, A Shares     8,091 244,525
Royal Dutch Shell PLC, B Shares     118,745 3,655,696
S-Oil Corp.     524 58,521
Statoil ASA     6,155 123,743
Surgutneftegas OJSC, ADR (London Stock Exchange)     37,000 187,590
Targa Resources Corp.     5,541 262,089
The Williams Companies, Inc.     1,240 37,212
TOTAL SA     54,416 2,921,836
TransCanada Corp.     35,057 1,732,691
Tupras Turkiye Petrol Rafinerileri AS     3,857 131,625
Valero Energy Corp.     1,871 143,936
Financials 16.5%     35,809,963
Banks 9.3%      
ABN AMRO Group NV (A)     3,856 115,465
Allahabad Bank (D)     42,134 42,625
Alpha Bank AE (D)     46,742 92,656
Aozora Bank, Ltd.     1,800 68,532
Banco Santander SA     78,041 545,885
BNP Paribas SA     6,039 487,201
BPER Banca     30,597 183,335
4 JOHN HANCOCK Hedged Equity & Income Fund | QUARTERLY REPORT SEE NOTES TO FUND'S INVESTMENTS

 

        Shares Value
Financials (continued)      
Banks (continued)      
CaixaBank SA     56,814 $285,178
Canara Bank     18,950 89,619
Corp Bank (D)     41,448 25,388
Dah Sing Financial Holdings, Ltd.     10,400 70,806
DNB ASA     3,276 66,143
HSBC Holdings PLC     273,122 2,700,037
ING Groep NV     20,275 373,716
Intesa Sanpaolo SpA     102,342 339,127
Intesa Sanpaolo SpA (Milan Stock Exchange)     614,170 2,174,351
JPMorgan Chase & Co.     18,326 1,750,316
KB Financial Group, Inc.     4,622 227,398
Krung Thai Bank PCL     60,600 34,205
Lloyds Banking Group PLC     229,465 208,528
Mitsubishi UFJ Financial Group, Inc.     69,349 450,895
Mizuho Financial Group, Inc.     215,900 378,481
Moneta Money Bank AS (A)     200,563 706,209
National Australia Bank, Ltd.     3,720 92,230
Nordea Bank AB     164,509 2,233,573
People's United Financial, Inc.     2,384 43,246
Raiffeisen Bank International AG (D)     1,989 66,666
Sberbank of Russia PJSC, ADR     147,800 2,109,106
Shinhan Financial Group Company, Ltd.     3,757 166,053
Skandinaviska Enskilda Banken AB, Series A     2,369 31,255
Societe Generale SA     6,150 360,399
Standard Chartered PLC (D)     28,655 284,919
Sumitomo Mitsui Financial Group, Inc.     10,800 415,143
Sumitomo Mitsui Trust Holdings, Inc.     6,560 236,965
The Tochigi Bank, Ltd.     16,600 70,869
UniCredit SpA (D)     18,331 391,178
Wells Fargo & Company (E)     39,206 2,162,211
Westpac Banking Corp.     3,778 95,030
Capital markets 1.7%      
ASX, Ltd.     11,914 491,051
Banca Generali SpA     40,414 1,403,656
CME Group, Inc.     3,440 466,739
GAM Holding AG (D)     11,987 185,822
Ichiyoshi Securities Company, Ltd.     14,500 142,245
IGM Financial, Inc.     5,444 182,986
Julius Baer Group, Ltd. (D)     3,303 196,000
Natixis SA     6,094 48,770
UBS Group AG (D)     27,111 463,787
Uranium Participation Corp. (D)     20,548 58,132
Diversified financial services 0.2%      
AMP, Ltd.     19,248 73,090
FirstRand, Ltd.     115,774 445,193
G-Resources Group, Ltd. (D)     2,823,000 37,243
Insurance 4.4%      
Admiral Group PLC     2,610 63,599
Ageas     6,450 303,367
American Financial Group, Inc.     4,841 500,801
Assicurazioni Generali SpA     116,045 2,164,390
Coface SA     13,669 146,915
SEE NOTES TO FUND'S INVESTMENTS QUARTERLY REPORT | JOHN HANCOCK Hedged Equity & Income Fund 5

 

        Shares Value
Financials (continued)      
Insurance (continued)      
Dai-ichi Life Holdings, Inc.     13,400 $240,364
Direct Line Insurance Group PLC     24,216 118,055
Legal & General Group PLC     31,946 111,347
Poste Italiane SpA (A)     33,992 250,411
Powszechny Zaklad Ubezpieczen SA     38,520 486,158
RSA Insurance Group PLC     57,365 479,279
Sampo OYJ, A Shares     1,110 58,746
Shin Kong Financial Holding Company, Ltd.     495,000 148,529
Storebrand ASA     21,797 185,467
T&D Holdings, Inc.     20,700 300,303
Tongyang Life Insurance Company, Ltd.     11,436 76,447
Tryg A/S     9,479 219,167
UnipolSai Assicurazioni SpA     53,695 125,558
Zurich Insurance Group AG     11,395 3,482,077
Mortgage real estate investment trusts 0.8%      
AGNC Investment Corp.     41,213 893,498
Annaly Capital Management, Inc.     72,299 881,325
Thrifts and mortgage finance 0.1%      
MGIC Investment Corp. (D)     7,930 99,363
New York Community Bancorp, Inc.     8,157 105,144
Health care 7.1%     15,373,240
Biotechnology 0.3%      
AbbVie, Inc.     5,728 508,990
Amgen, Inc.     661 123,243
Gilead Sciences, Inc.     1,277 103,463
Health care equipment and supplies 0.3%      
Abbott Laboratories     3,944 210,452
Hoya Corp.     1,300 70,302
Koninklijke Philips NV     2,810 115,940
Medtronic PLC     2,030 157,873
ResMed, Inc.     770 59,259
Health care providers and services 0.1%      
Cardinal Health, Inc.     603 40,353
Suzuken Company, Ltd.     4,220 150,094
Health care technology 0.1%      
AGFA-Gevaert NV (D)     25,190 120,177
Life sciences tools and services 0.0%      
CMIC Holdings Company, Ltd.     4,300 60,172
Pharmaceuticals 6.3%      
Almirall SA     7,151 72,807
AstraZeneca PLC     45,422 3,020,627
Bristol-Myers Squibb Company     11,319 721,473
Eisai Company, Ltd.     3,000 154,059
Eli Lilly & Company     1,372 117,361
GlaxoSmithKline PLC     5,058 101,113
H Lundbeck A/S     514 29,715
Johnson & Johnson     3,595 467,386
Kyowa Hakko Kirin Company, Ltd.     2,600 44,301
Merck & Company, Inc.     5,138 328,986
Novartis AG     41,438 3,554,342
Pfizer, Inc.     17,123 611,291
6 JOHN HANCOCK Hedged Equity & Income Fund | QUARTERLY REPORT SEE NOTES TO FUND'S INVESTMENTS

 

        Shares Value
Health care (continued)      
Pharmaceuticals (continued)      
Roche Holding AG     13,136 $3,357,826
Takeda Pharmaceutical Company, Ltd.     19,380 1,071,635
Industrials 8.7%     18,915,575
Aerospace and defense 0.3%      
Lockheed Martin Corp.     444 137,769
The Boeing Company     1,274 323,864
United Technologies Corp.     1,338 155,315
Air freight and logistics 0.2%      
CTT-Correios de Portugal SA     22,902 138,118
PostNL NV     53,416 230,147
United Parcel Service, Inc., Class B     422 50,678
Yusen Logistics Company, Ltd.     9,000 82,181
Airlines 0.1%      
ANA Holdings, Inc.     1,100 41,667
Deutsche Lufthansa AG     3,098 86,152
SAS AB (D)     48,248 154,719
Building products 0.2%      
Cie de Saint-Gobain     6,975 415,571
Commercial services and supplies 0.3%      
G4S PLC     112,495 419,704
Relia, Inc.     7,600 87,773
Toppan Forms Company, Ltd.     11,000 116,753
Construction and engineering 0.2%      
Chiyoda Corp.     21,000 122,888
JGC Corp.     9,300 150,609
Raubex Group, Ltd.     39,060 57,215
Toyo Engineering Corp.     8,800 107,404
Electrical equipment 1.0%      
ABB, Ltd.     75,260 1,861,028
Emerson Electric Company     1,272 79,932
Ushio, Inc.     11,200 149,481
Zumtobel Group AG     7,467 129,720
Industrial conglomerates 0.3%      
3M Company     924 193,948
DMCI Holdings, Inc.     100,700 30,920
General Electric Company     5,909 142,880
Rheinmetall AG     2,160 243,615
Machinery 3.0%      
Alstom SA     4,917 208,914
Atlas Copco AB, B Shares     13,441 522,127
Caterpillar, Inc.     23,556 2,937,669
Hisaka Works, Ltd.     6,200 52,707
Kone OYJ, Class B     38,763 2,054,799
Mitsubishi Heavy Industries, Ltd.     7,120 281,521
The Japan Steel Works, Ltd.     9,900 227,898
Toshiba Machine Company, Ltd.     33,000 180,253
Marine 0.2%      
D/S Norden A/S (D)     6,793 145,181
Kuehne + Nagel International AG     177 32,798
Pacific Basin Shipping, Ltd. (D)     689,000 156,088
SEE NOTES TO FUND'S INVESTMENTS QUARTERLY REPORT | JOHN HANCOCK Hedged Equity & Income Fund 7

 

        Shares Value
Industrials (continued)      
Professional services 0.2%      
Adecco Group AG     2,414 $188,061
Hays PLC     79,233 201,250
SThree PLC     7,842 37,011
Road and rail 0.1%      
Go-Ahead Group PLC     7,291 166,380
Kyushu Railway Company     900 26,773
Trading companies and distributors 1.0%      
ITOCHU Corp.     108,800 1,782,663
Kuroda Electric Company, Ltd.     5,000 87,188
Rexel SA     11,888 205,658
SIG PLC     82,137 195,861
Transportation infrastructure 1.6%      
Abertis Infraestructuras SA     24,198 489,210
Hamburger Hafen und Logistik AG     3,083 97,213
Macquarie Infrastructure Corp. (E)     9,326 673,151
Sydney Airport     403,821 2,255,150
Information technology 8.5%     18,355,537
Communications equipment 1.4%      
Cisco Systems, Inc.     12,260 412,304
Harris Corp.     954 125,623
Nokia OYJ     353,773 2,125,646
Telefonaktiebolaget LM Ericsson, B Shares     40,309 232,385
Electronic equipment, instruments and components 0.3%      
Citizen Watch Company, Ltd.     20,900 144,120
Hirose Electric Company, Ltd.     1,300 183,051
Hosiden Corp.     5,800 94,696
Nichicon Corp.     12,700 156,229
Nippon Chemi-Con Corp.     600 21,341
Simplo Technology Company, Ltd.     16,800 89,323
Yokogawa Electric Corp.     2,000 34,081
Internet software and services 0.5%      
Alibaba Group Holding, Ltd., ADR (D)     1,623 280,308
Alphabet, Inc., Class A (D)     30 29,212
Autohome, Inc., ADR (D)     813 48,845
Baidu, Inc., ADR (D)     272 67,372
DeNA Company, Ltd.     3,900 87,478
Dropbox, Inc., Class B (B)(C)(D)     6,935 89,184
Facebook, Inc., Class A (D)     454 77,575
Gree, Inc.     15,800 108,077
Mixi, Inc.     500 24,148
Momo, Inc., ADR (D)     709 22,220
NetEase, Inc., ADR     418 110,273
SINA Corp. (D)     460 52,739
Weibo Corp., ADR (D)     877 86,770
IT services 0.9%      
Accenture PLC, Class A     4,538 612,948
Automatic Data Processing, Inc.     704 76,961
Fujitsu, Ltd.     51,980 386,863
IBM Corp.     2,292 332,523
Paychex, Inc.     4,894 293,444
Sopra Steria Group     702 130,339
8 JOHN HANCOCK Hedged Equity & Income Fund | QUARTERLY REPORT SEE NOTES TO FUND'S INVESTMENTS

 

        Shares Value
Information technology (continued)      
IT services (continued)      
The Western Union Company     7,815 $150,048
TravelSky Technology, Ltd., H Shares     16,000 41,855
Semiconductors and semiconductor equipment 3.8%      
Broadcom, Ltd.     310 75,187
Disco Corp.     200 40,761
Intel Corp.     88,787 3,381,009
KLA-Tencor Corp.     347 36,782
Maxim Integrated Products, Inc.     3,817 182,109
MediaTek, Inc.     20,100 189,139
Microchip Technology, Inc.     370 33,219
Miraial Company, Ltd.     4,500 60,052
QUALCOMM, Inc. (E)     71,325 3,697,488
Rohm Company, Ltd.     900 77,228
Shinko Electric Industries Company, Ltd.     18,700 126,191
SK Hynix, Inc.     846 61,699
Texas Instruments, Inc.     369 33,077
Tokyo Electron, Ltd.     1,100 169,344
Tokyo Seimitsu Company, Ltd.     3,780 134,140
Software 0.4%      
Alpha Systems, Inc.     1,100 22,579
Konami Holdings Corp.     800 38,515
Microsoft Corp.     5,966 444,407
NHN Entertainment Corp. (D)     2,065 123,425
Nintendo Company, Ltd.     200 73,747
Trend Micro, Inc.     2,200 108,385
Technology hardware, storage and peripherals 1.2%      
Acer, Inc. (D)     318,000 159,154
Apple, Inc.     2,737 421,826
Brother Industries, Ltd.     1,200 27,979
Canon, Inc.     17,500 598,867
Catcher Technology Company, Ltd.     86,357 807,811
Compal Electronics, Inc.     256,000 182,101
HP, Inc.     1,882 37,565
Melco Holdings, Inc.     2,500 79,533
Samsung Electronics Company, Ltd.     23 51,755
Seagate Technology PLC     4,597 152,482
Materials 4.7%     10,178,377
Chemicals 1.4%      
Agrium, Inc. (E)     16,480 1,766,821
China BlueChemical, Ltd., H Shares     230,000 75,121
DowDuPont, Inc.     4,419 305,927
EMS-Chemie Holding AG     88 58,564
JSR Corp.     14,100 268,096
LyondellBasell Industries NV, Class A     2,476 245,248
Monsanto Company     435 52,122
Praxair, Inc.     412 57,573
PTT Global Chemical PCL     41,700 96,383
Construction materials 0.2%      
LafargeHolcim, Ltd. (D)     5,671 332,008
Vicat SA     1,833 139,877
SEE NOTES TO FUND'S INVESTMENTS QUARTERLY REPORT | JOHN HANCOCK Hedged Equity & Income Fund 9

 

        Shares Value
Materials (continued)      
Containers and packaging 1.0%      
AMVIG Holdings, Ltd.     152,000 $43,194
International Paper Company (E)     35,631 2,024,553
Nampak, Ltd. (D)     107,163 139,457
Metals and mining 2.1%      
Acacia Mining PLC     20,835 54,288
Alumina, Ltd.     57,193 99,115
Anglo American Platinum, Ltd. (D)     4,607 117,672
Anglo American PLC     12,498 224,694
Barrick Gold Corp.     7,786 125,300
Centerra Gold, Inc. (D)     25,041 176,406
Chubu Steel Plate Company, Ltd.     5,800 37,638
Eldorado Gold Corp.     51,281 112,818
Gold Fields, Ltd.     47,181 204,040
Impala Platinum Holdings, Ltd. (D)     28,187 64,629
Ivanhoe Mines, Ltd., Class A (D)     14,864 47,293
Kinross Gold Corp. (D)     26,433 112,076
Kyoei Steel, Ltd.     7,600 118,599
Nakayama Steel Works, Ltd.     11,800 76,339
NetMind Financial Holdings, Ltd. (D)     1,440,000 7,226
Neturen Company, Ltd.     6,100 61,422
Northern Dynasty Minerals, Ltd. (D)     11,046 19,830
Pacific Metals Company, Ltd. (D)     3,900 99,440
Resolute Mining, Ltd.     64,800 52,226
Rio Tinto PLC     45,257 2,106,673
Salzgitter AG     4,018 182,514
Tokyo Steel Manufacturing Company, Ltd.     17,300 142,787
Western Areas, Ltd.     83,737 171,568
Yamato Kogyo Company, Ltd.     5,860 158,840
Real estate 5.8%     12,483,785
Equity real estate investment trusts 4.3%      
Colony NorthStar, Inc., Class A     21,501 270,053
Crown Castle International Corp.     5,253 525,195
Gaming and Leisure Properties, Inc.     60,789 2,242,506
Growthpoint Properties, Ltd.     15,947 28,640
Host Hotels & Resorts, Inc.     2,116 39,125
ICADE     25,820 2,303,556
Iron Mountain, Inc.     2,622 101,996
Mid-America Apartment Communities, Inc.     4,676 499,771
Park Hotels & Resorts, Inc.     112,254 3,093,720
Redefine Properties, Ltd.     160,164 126,412
VEREIT, Inc.     13,069 108,342
Real estate management and development 1.5%      
Daito Trust Construction Company, Ltd.     17,260 3,144,469
Telecommunication services 6.6%     14,389,988
Diversified telecommunication services 5.4%      
AT&T, Inc.     11,641 455,978
BCE, Inc.     41,577 1,947,980
Bezeq The Israeli Telecommunication Corp., Ltd.     220,736 315,507
BT Group PLC     674,054 2,563,760
CenturyLink, Inc.     15,093 285,258
China Telecom Corp., Ltd., H Shares     134,000 68,941
10 JOHN HANCOCK Hedged Equity & Income Fund | QUARTERLY REPORT SEE NOTES TO FUND'S INVESTMENTS

 

        Shares Value
Telecommunication services (continued)      
Diversified telecommunication services (continued)      
Hellenic Telecommunications Organization SA     16,647 $201,609
KT Corp.     7,757 197,758
Magyar Telekom Telecommunications PLC     80,690 146,916
O2 Czech Republic AS     27,149 333,496
Proximus SADP     1,324 45,643
Spark New Zealand, Ltd.     55,389 146,239
Telenor ASA     113,436 2,403,090
Turk Telekomunikasyon AS (D)     41,470 79,091
Verizon Communications, Inc. (E)     52,693 2,607,777
Wireless telecommunication services 1.2%      
Mobile TeleSystems PJSC, ADR     30,284 316,165
NTT DOCOMO, Inc.     68,096 1,556,454
Orange Belgium SA     5,012 116,000
Rogers Communications, Inc., Class B     9,627 496,414
Sistema PJSC, GDR     22,065 105,912
Utilities 5.6%     12,022,357
Electric utilities 3.1%      
Contact Energy, Ltd.     13,363 53,139
Duke Energy Corp.     25,461 2,136,687
EDP - Energias de Portugal SA     528,071 1,991,195
Endesa SA     7,675 173,187
Pinnacle West Capital Corp.     5,918 500,426
SSE PLC     90,047 1,684,973
The Southern Company     1,697 83,391
Gas utilities 0.2%      
Gas Natural SDG SA     20,428 452,532
Infraestructura Energetica Nova SAB de CV     7,900 44,237
Independent power and renewable electricity producers 0.4%      
Glow Energy PCL     119,700 320,459
Meridian Energy, Ltd.     106,116 218,238
NTPC, Ltd.     54,780 140,443
Vistra Energy Corp.     8,337 155,819
Multi-utilities 1.9%      
CenterPoint Energy, Inc.     3,398 99,256
Centrica PLC     100,591 252,117
Dominion Energy, Inc.     20,414 1,570,449
E.ON SE     19,914 225,754
Engie SA     14,683 249,338
Innogy SE (A)     33,807 1,506,076
RWE AG     7,237 164,641
Preferred securities 0.1%         $296,102
(Cost $216,786)          
Financials 0.0%         42,900
Banks 0.0%          
GMAC Capital Trust I (3 month LIBOR + 5.785%), 6.967% (F)   1,625 42,900
Information technology 0.0%         30,750
Technology hardware, storage and peripherals 0.0%          
Samsung Electronics Company, Ltd.   17 30,750
SEE NOTES TO FUND'S INVESTMENTS QUARTERLY REPORT | JOHN HANCOCK Hedged Equity & Income Fund 11

 

        Shares Value
Telecommunication services 0.0%         $108,361
Diversified telecommunication services 0.0%          
Telefonica Brasil SA   6,800 108,361
Utilities 0.1%         114,091
Electric utilities 0.1%          
Cia Paranaense de Energia, B Shares   12,800 114,091
Exchange-traded funds 0.1%         $133,730
(Cost $130,516)          
iShares Core MSCI EAFE ETF       2,084 133,730
    
  Rate (%) Maturity date   Par value^ Value
Foreign government obligations 0.2%         $415,845
(Cost $376,836)          
Argentina 0.2%         415,845
Provincia de Buenos Aires
(A) 		5.375 01-20-23 EUR 125,000 152,057
Republic of Argentina
 7.500 04-22-26   235,000 263,788
Corporate bonds 13.4%         $28,982,442
(Cost $27,893,735)          
Consumer discretionary 3.0%     6,574,564
Auto components 0.1%      
Avis Budget Car Rental LLC (A) 5.250 03-15-25   180,000 180,000
Avis Budget Car Rental LLC 5.500 04-01-23   90,000 92,025
Consumer services 0.0%      
CRC Escrow Issuer LLC (A) 5.250 10-15-25   120,000 120,000
Hotels, restaurants and leisure 1.0%      
Boyd Gaming Corp. 6.375 04-01-26   85,000 92,756
CEC Entertainment, Inc. 8.000 02-15-22   190,000 197,125
Cirsa Funding Luxembourg SA 5.875 05-15-23 EUR 100,000 124,170
Cirsa Funding Luxembourg SA (A) 5.875 05-15-23 EUR 115,000 142,809
Codere Finance 2 Luxembourg SA (A) 6.750 11-01-21 EUR 150,000 185,519
Eldorado Resorts, Inc. 6.000 04-01-25   130,000 136,526
Jacobs Entertainment, Inc. (A) 7.875 02-01-24   165,000 177,788
New Red Finance, Inc. (A) 5.000 10-15-25   210,000 213,675
New Red Finance, Inc. (A) 5.000 10-15-25   110,000 111,925
Penn National Gaming, Inc. (A) 5.625 01-15-27   186,000 192,975
Pinnacle Entertainment, Inc. 5.625 05-01-24   115,000 117,588
Rivers Pittsburgh Borrower LP (A) 6.125 08-15-21   55,000 55,550
Scientific Games International, Inc. 6.625 05-15-21   115,000 117,875
Scientific Games International, Inc. 10.000 12-01-22   40,000 44,300
Station Casinos LLC (A) 5.000 10-01-25   115,000 115,276
Sugarhouse HSP Gaming Prop Mezz LP (A) 5.875 05-15-25   110,000 108,075
Household durables 0.3%      
Beazer Homes USA, Inc. (A) 5.875 10-15-27   40,000 40,000
Beazer Homes USA, Inc. 6.750 03-15-25   45,000 47,390
Beazer Homes USA, Inc. 8.750 03-15-22   106,000 117,395
KB Home 7.000 12-15-21   225,000 252,563
M/I Homes, Inc. (A) 5.625 08-01-25   40,000 40,850
M/I Homes, Inc. 6.750 01-15-21   165,000 172,219
Internet and direct marketing retail 0.2%      
Liberty Interactive LLC 8.250 02-01-30   175,000 193,375
Netflix, Inc. 5.875 02-15-25   190,000 207,813
12 JOHN HANCOCK Hedged Equity & Income Fund | QUARTERLY REPORT SEE NOTES TO FUND'S INVESTMENTS

 

  Rate (%) Maturity date   Par value^ Value
Consumer discretionary (continued)      
Leisure products 0.1%      
Jack Ohio Finance LLC (A) 6.750 11-15-21   155,000 $162,556
Media 1.1%      
Altice Financing SA (A) 6.500 01-15-22 EUR 100,000 124,000
Altice Financing SA (A) 7.500 05-15-26   210,000 231,000
CCO Holdings LLC 5.125 02-15-23   5,000 5,163
CCO Holdings LLC 5.250 09-30-22   5,000 5,150
CCO Holdings LLC 5.750 09-01-23   35,000 36,313
CCO Holdings LLC (A) 5.750 02-15-26   120,000 126,000
Cequel Communications Holdings I LLC (A) 5.125 12-15-21   55,000 55,963
Cequel Communications Holdings I LLC (A) 5.125 12-15-21   155,000 157,713
Clear Channel Worldwide Holdings, Inc. 7.625 03-15-20   15,000 14,813
CSC Holdings LLC (A) 10.875 10-15-25   200,000 247,250
DISH DBS Corp. 6.750 06-01-21   120,000 132,000
DISH DBS Corp. 7.875 09-01-19   320,000 349,600
Gray Television, Inc. (A) 5.125 10-15-24   130,000 130,650
Gray Television, Inc. (A) 5.875 07-15-26   30,000 30,900
Sinclair Television Group, Inc. (A) 5.875 03-15-26   75,000 76,500
TEGNA, Inc. (A) 4.875 09-15-21   115,000 117,875
TEGNA, Inc. 5.125 10-15-19   295,000 299,425
Tribune Media Company 5.875 07-15-22   150,000 156,000
Specialty retail 0.2%      
Dufry Finance SCA (A) 4.500 08-01-23 EUR 105,000 132,039
New Look Secured Issuer PLC (A) 6.500 07-01-22 GBP 180,000 162,692
Party City Holdings, Inc. (A) 6.125 08-15-23   140,000 145,600
Staples, Inc. (A) 8.500 09-15-25   80,000 77,800
Consumer staples 0.6%     1,304,484
Food products 0.4%      
KazAgro National Management Holding JSC 4.625 05-24-23   200,000 201,201
MARB BondCo PLC (A) 7.000 03-15-24   200,000 197,000
Post Holdings, Inc. (A) 5.000 08-15-26   190,000 189,644
Post Holdings, Inc. (A) 5.750 03-01-27   50,000 51,500
Post Holdings, Inc. (A) 6.000 12-15-22   40,000 41,900
TreeHouse Foods, Inc. 4.875 03-15-22   190,000 196,413
Household products 0.1%      
Diamond BC BV (A) 5.625 08-15-25 EUR 200,000 241,426
Personal products 0.1%      
Revlon Consumer Products Corp. 6.250 08-01-24   240,000 185,400
Energy 1.9%     4,077,132
Energy equipment and services 0.1%      
Ensco PLC 5.750 10-01-44   90,000 64,575
Rowan Companies, Inc. 5.850 01-15-44   50,000 39,750
Transocean, Inc. 6.800 03-15-38   25,000 20,375
Transocean, Inc. 7.500 04-15-31   10,000 9,100
Transocean, Inc. 9.350 12-15-41   25,000 24,000
Weatherford International, Ltd. 5.950 04-15-42   20,000 16,400
Weatherford International, Ltd. 6.500 08-01-36   45,000 38,588
Weatherford International, Ltd. 7.000 03-15-38   15,000 13,350
Oil, gas and consumable fuels 1.8%      
Blue Racer Midstream LLC (A) 6.125 11-15-22   230,000 238,625
Borets Finance DAC 7.625 09-26-18   200,000 207,647
SEE NOTES TO FUND'S INVESTMENTS QUARTERLY REPORT | JOHN HANCOCK Hedged Equity & Income Fund 13

 

  Rate (%) Maturity date   Par value^ Value
Energy (continued)      
Oil, gas and consumable fuels (continued)      
California Resources Corp. (A) 8.000 12-15-22   165,000 $107,250
Cloud Peak Energy Resources LLC 12.000 11-01-21   60,000 63,000
Continental Resources, Inc. 3.800 06-01-24   40,000 38,600
Continental Resources, Inc. 4.900 06-01-44   115,000 104,363
Continental Resources, Inc. 5.000 09-15-22   35,000 35,569
Denbury Resources, Inc. (A) 9.000 05-15-21   140,000 136,675
Energen Corp. 4.625 09-01-21   105,000 106,575
Foresight Energy LLC (A) 11.500 04-01-23   250,000 218,750
Gazprom Neft OAO (A) 4.375 09-19-22   200,000 203,800
Gazprom OAO 4.950 07-19-22   200,000