John Hancock

Tax-Advantaged Dividend Income Fund

Fund’s investments

As of 1-31-18 (unaudited)

				Shares	Value
Common stocks 75.6% (50.7% of Total investments)					$652,977,847
(Cost $434,417,738)
Energy 12.8%					110,917,469
Oil, gas and consumable fuels 12.8%
BP PLC, ADR (A)(B)(C)				980,450	41,953,456
Enbridge, Inc. (A)(B)(C)				247,106	9,051,493
ONEOK, Inc. (B)				710,000	41,790,600
Royal Dutch Shell PLC, ADR, Class A (A)(B)				258,000	18,121,920
Industrials 2.2%					19,241,500
Transportation infrastructure 2.2%
Macquarie Infrastructure Corp. (A)(B)				290,000	19,241,500
Telecommunication services 4.5%					38,624,881
Diversified telecommunication services 4.5%
AT&T, Inc. (B)				575,000	21,533,750
CenturyLink, Inc. (A)(B)				355,000	6,322,550
Verizon Communications, Inc. (B)				199,160	10,768,581
Utilities 56.1%					484,193,997
Electric utilities 26.7%
Alliant Energy Corp. (B)				390,000	15,502,500
American Electric Power Company, Inc. (A)(B)				540,000	37,141,200
Avangrid, Inc. (A)(B)				475,000	23,142,000
Duke Energy Corp. (A)(B)				320,000	25,120,000
Entergy Corp. (A)(B)				338,000	26,597,220
Eversource Energy (A)(B)				460,000	29,021,400
FirstEnergy Corp. (B)				270,000	8,883,000
OGE Energy Corp. (C)				540,000	17,388,000
Pinnacle West Capital Corp. (B)				50,000	3,997,500
PPL Corp. (A)(B)				500,000	15,935,000
The Southern Company (A)(B)				405,000	18,269,550
Xcel Energy, Inc. (B)				207,000	9,447,480
Gas utilities 3.9%
Atmos Energy Corp. (B)				270,000	22,383,000
ONE Gas, Inc.				160,000	11,332,800
Multi-utilities 25.5%
Ameren Corp. (B)(C)				540,000	30,580,200
Black Hills Corp.				440,000	24,442,000
CenterPoint Energy, Inc. (A)(B)				980,000	27,616,400
Dominion Energy, Inc. (A)(B)				400,000	30,576,000
DTE Energy Company (A)(B)(C)				250,000	26,410,000
National Grid PLC, ADR (B)				265,833	15,333,247
NiSource, Inc. (A)(B)				770,000	19,003,600
Public Service Enterprise Group, Inc. (B)				70,000	3,630,900
Vectren Corp. (A)(B)(C)				700,000	42,441,000
Preferred securities 69.8% (46.8% of Total investments)					$602,525,856
(Cost $624,277,292)
Energy 5.3%					45,486,743
Oil, gas and consumable fuels 5.3%
Kinder Morgan, Inc., 9.750% (A)(B)(C)				1,235,717	45,486,743

2

JOHN HANCOCK Tax-Advantaged Dividend Income Fund | QUARTERLY REPORT

SEE NOTES TO FUND'S INVESTMENTS

				Shares	Value
Financials 36.1%					$312,149,327
Banks 22.5%
Bank of America Corp., 6.204%				230,000	5,883,400
Bank of America Corp., 6.375%				139,000	3,563,960
Bank of America Corp., 6.500%				177,178	4,629,661
Bank of America Corp., 6.625%				355,000	9,105,750
Barclays Bank PLC, 8.125% (C)				610,000	16,000,300
BB&T Corp. (Callable 6-1-18), 5.200%				480,000	11,755,200
BB&T Corp. (Callable 5-1-18), 5.200%				225,000	5,508,000
BB&T Corp., 5.625%				606,000	15,065,160
Citigroup, Inc. (6.875% to 11-15-23, then 3 month LIBOR + 4.130%)				35,000	987,000
Citigroup, Inc. (7.125% to 9-30-23, then 3 month LIBOR + 4.040%) (A)(B)				210,854	5,954,517
HSBC Holdings PLC, 8.000% (C)				325,000	8,651,500
HSBC Holdings PLC, 8.125% (A)(B)				50,000	1,340,000
JPMorgan Chase & Co., 5.450%				245,000	6,078,450
JPMorgan Chase & Co., 6.100%				510,000	13,158,000
JPMorgan Chase & Co., 6.125%				98,888	2,540,433
JPMorgan Chase & Co., 6.700%				30,000	781,800
MB Financial, Inc., 6.000%				400,000	9,888,000
Santander Holdings USA, Inc., 7.300%				120,000	3,074,400
The PNC Financial Services Group, Inc., 5.375% (C)				280,000	6,927,200
The PNC Financial Services Group, Inc. (6.125% to 5-1-22, then 3 month LIBOR + 4.067%)				40,000	1,106,800
U.S. Bancorp, 5.150% (C)				720,000	17,676,000
U.S. Bancorp (6.500% to 1-15-22, then 3 month LIBOR + 4.468%)				296,000	8,205,120
Wells Fargo & Company, 6.000%				215,000	5,525,500
Wells Fargo & Company, 8.000%				1,200,000	30,924,000
Capital markets 12.5%
Deutsche Bank Contingent Capital Trust II, 6.550%				10,000	257,400
Deutsche Bank Contingent Capital Trust III, 7.600%				797,893	20,298,398
Morgan Stanley, 6.625%				1,057,915	27,537,527
Morgan Stanley (6.375% to 10-15-24, then 3 month LIBOR + 3.708%)				220,000	5,955,400
Morgan Stanley (7.125% to 10-15-23, then 3 month LIBOR + 4.320%) (A)(B)				360,820	10,265,329
State Street Corp., 5.250%				910,000	22,231,300
State Street Corp., 6.000%				192,065	4,957,198
State Street Corp. (5.900% to 3-15-24, then 3 month LIBOR + 3.108%)				25,000	668,750
The Bank of New York Mellon Corp., 5.200%				425,000	10,310,500
The Goldman Sachs Group, Inc., 6.200%				215,000	5,441,650
Consumer finance 0.7%
Capital One Financial Corp., 6.200%				100,183	2,613,774
Capital One Financial Corp., 6.700%				136,569	3,619,079
Insurance 0.4%
Aegon NV, 6.500%				96,512	2,468,777
Prudential Financial, Inc., 5.750%				47,460	1,194,094
Health care 2.6%					22,710,486
Pharmaceuticals 2.6%
Teva Pharmaceutical Industries, Ltd., 7.000%				59,900	22,710,486
Industrials 0.4%					3,396,683
Machinery 0.4%
Stanley Black & Decker, Inc., 5.750%				135,326	3,396,683
Real estate 1.7%					14,625,558
Equity real estate investment trusts 1.7%
Crown Castle International Corp., Series A, 6.875%				12,000	13,492,458

SEE NOTES TO FUND'S INVESTMENTS

QUARTERLY REPORT | JOHN HANCOCK Tax-Advantaged Dividend Income Fund

3

				Shares	Value
Real estate (continued)
Equity real estate investment trusts (continued)
Ventas Realty LP, 5.450%				45,000	$1,133,100
Telecommunication services 3.8%					32,655,377
Diversified telecommunication services 1.9%
Qwest Corp., 6.125% (C)				730,000	14,096,300
Qwest Corp., 7.500%				34,122	834,624
Verizon Communications, Inc., 5.900%				60,000	1,549,800
Wireless telecommunication services 1.9%
Telephone & Data Systems, Inc., 5.875%				340,000	8,013,800
Telephone & Data Systems, Inc., 6.625%				39,768	940,513
Telephone & Data Systems, Inc., 6.875%				261,064	6,487,440
United States Cellular Corp., 6.950%				30,000	732,900
Utilities 19.9%					171,501,682
Electric utilities 13.7%
Duke Energy Corp., 5.125%				221,008	5,487,629
Entergy Arkansas, Inc., 4.560%				9,388	959,923
Entergy Mississippi, Inc., 4.920%				8,190	827,190
Interstate Power & Light Company, 5.100% (C)				1,382,023	33,196,192
Mississippi Power Company, 5.250%				257,500	6,607,450
NextEra Energy Capital Holdings, Inc., 5.000%				110,000	2,581,700
NextEra Energy, Inc., 6.123%				206,000	11,651,360
PPL Capital Funding, Inc., 5.900%				1,013,052	25,447,866
SCE Trust II, 5.100% (A)(B)				1,285,000	29,105,250
The Southern Company, 6.250%				80,000	2,081,600
Multi-utilities 6.2%
Dominion Energy, Inc., 6.750%				507,000	25,588,290
DTE Energy Company, 5.250% (C)				166,933	4,031,432
DTE Energy Company, 6.500% (C)				120,000	6,328,800
Integrys Holding, Inc. (6.000% to 8-1-23, then 3 month LIBOR + 3.220%)				210,000	5,607,000
Sempra Energy, 6.000%				120,000	12,000,000

    

	Rate (%)	Maturity date		Par value^	Value
Corporate bonds 3.1% (2.1% of Total investments)					$27,002,250
(Cost $26,600,000)
Consumer discretionary 0.4%					3,717,000
Automobiles 0.4%
General Motors Financial Company, Inc. (5.750% to 9-30-27, then 3 month LIBOR + 3.598%) (A)(B)(D)	5.750	09-30-27		3,600,000	3,717,000
Financials 2.3%					20,118,750
Capital markets 1.1%
E*TRADE Financial Corp. (5.300% to 3-15-23, then 3 month LIBOR + 3.160%) (A)(B)(D)	5.300	03-15-23		10,000,000	9,962,500
Consumer finance 1.2%
Discover Financial Services (5.500% to 10-30-27, then 3 month LIBOR + 3.076%) (B)(D)	5.500	10-30-27		10,000,000	10,156,250
Utilities 0.4%					3,166,500
Electric utilities 0.4%
Southern California Edison Company (6.250% to 2-1-22, then 3 month LIBOR + 4.199%) (B)(D)	6.250	02-01-22		3,000,000	3,166,500

    

4

JOHN HANCOCK Tax-Advantaged Dividend Income Fund | QUARTERLY REPORT

SEE NOTES TO FUND'S INVESTMENTS

	Yield* (%)	Maturity date		Par value^	Value
Short-term investments 0.6% (0.4% of Total investments)					$5,113,000
(Cost $5,113,000)
U.S. Government Agency 0.4%					3,553,000
Federal Agricultural Mortgage Corp. Discount Note	1.200	02-01-18		335,000	335,000
Federal Home Loan Bank Discount Note	0.900	02-01-18		460,000	460,000
Federal Home Loan Bank Discount Note	1.200	02-01-18		2,758,000	2,758,000

    

				Par value^	Value
Repurchase agreement 0.2%					1,560,000
Repurchase Agreement with State Street Corp. dated 1-31-18 at 0.540% to be repurchased at $1,560,023 on 2-1-18, collateralized by $1,595,000 U.S. Treasury Notes, 1.375% due 9-30-18 (valued at $1,597,976, including interest)				1,560,000	1,560,000

    

Total investments (Cost $1,090,408,030) 149.1%					$1,287,618,953
Other assets and liabilities, net (49.1%)					(424,027,261)
Total net assets 100.0%					$863,591,692

    

The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund unless otherwise indicated.
^All par values are denominated in U.S. dollars unless otherwise indicated.
Security Abbreviations and Legend
ADR	American Depositary Receipt
LIBOR	London Interbank Offered Rate
(A)	A portion of this security is on loan as of 1-31-18, and is a component of the fund's leverage under the Liquidity Agreement.
(B)	All or a portion of this security is pledged as collateral pursuant to the Liquidity Agreement. Total collateral value at 1-31-18 was $436,931,531. A portion of the securities pledged as collateral were loaned pursuant to the Liquidity Agreement. The value of securities on loan amounted to $254,462,568.
(C)	A portion of this security is segregated as collateral for options. Total collateral value at 1-31-18 was $110,901,026.
(D)	Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.
*	Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end.

The fund had the following country composition as a percentage of total investments on 1-31-18:

United States	89.4%
United Kingdom	6.5%
Israel	1.8%
Netherlands	1.6%
Other countries	0.7%
TOTAL	100.0%

SEE NOTES TO FUND'S INVESTMENTS

QUARTERLY REPORT | JOHN HANCOCK Tax-Advantaged Dividend Income Fund

5

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis*	Notional value*	Unrealized appreciation (depreciation)
10-Year U.S. Treasury Note Futures	980	Short	Mar 2018	$(122,390,720)	$(119,146,562)	$3,244,158
						$3,244,158

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

WRITTEN OPTIONS

Options on index
Counterparty (OTC)/ Exchange- traded	Name of issuer		Exercise price	Expiration date	Number of contracts	Notional amount	Premium	Value
Calls
Exchange-traded	Russell 2000 Index	USD	1,610.00	Jan 2018	190	19,000	$66,350	$(8,075)
Exchange-traded	S&P 500 Index	USD	2,795.00	Feb 2018	10	1,000	3,892	(35,500)
Exchange-traded	S&P 500 Index	USD	2,840.00	Feb 2018	15	1,500	7,938	(22,875)
Exchange-traded	S&P 500 Index	USD	2,800.00	Feb 2018	208	20,800	41,298	(940,160)
Exchange-traded	S&P 500 Index	USD	2,895.00	Feb 2018	36	3,600	64,411	(21,600)
Exchange-traded	S&P 500 Index	USD	2,980.00	Mar 2018	125	12,500	86,151	(31,563)
Exchange-traded	S&P 500 Index	USD	2,980.00	Apr 2018	75	7,500	27,691	(57,000)
							$297,731	$(1,116,773)

SWAPS

Interest rate swaps
Counterparty (OTC)/ Centrally cleared	Notional amount	Currency	Payments made	Payments received	Fixed payment frequency	Floating payment frequency	Maturity date	Unamortized upfront payment paid (received)	Unrealized appreciation (depreciation)	Value
Centrally cleared	107,000,000	USD	Fixed 2.136%	USD 3 Month LIBOR BBA(a)	Semi-Annual	Quarterly	Feb 2018	—	$1,626,244	$1,626,244
								—	$1,626,244	$1,626,244

    

(a)	At 1-31-18, the 3 month LIBOR was 1.778%

    

Derivatives Currency Abbreviations
USD	U.S. Dollar

    

Derivatives Abbreviations
BBA	The British Banker's Association
LIBOR	London Interbank Offered Rate

OTC is an abbreviation for over-the-counter. See Notes to Fund's investments regarding investment transactions and other derivatives information.

6

JOHN HANCOCK Tax-Advantaged Dividend Income Fund | QUARTERLY REPORT

SEE NOTES TO FUND'S INVESTMENTS

Notes to Fund's investments (unaudited)

Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 p.m., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value may be determined as of the regularly scheduled close of the NYSE pursuant to the fund's Valuation Policies and Procedures.

In order to value the securities, the fund uses the following valuation techniques: Equity securities held by the fund are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Debt obligations are valued based on the evaluated prices provided by an independent pricing vendor or from broker-dealers. Independent pricing vendors utilize matrix pricing which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Options listed on an exchange are valued at the mean of the most recent bid and ask prices from the exchange where the option was acquired or most likely will be sold. Futures contracts are valued at settlement prices, which are the official closing prices published by the exchange on which they trade.

In certain instances, the Pricing Committee may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the fund's Pricing Committee following procedures established by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed.

The fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the fund's own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

The following is a summary of the values by input classification of the fund's investments as of January 31, 2018, by major security category or type:

							Total value at 1-31-18			Level 1 quoted price			Level 2 significant observable inputs			Level 3 significant unobservable inputs
	Investments in securities:
	Assets
	Common stocks						$652,977,847			$652,977,847			—			—
	Preferred securities
				Energy			45,486,743			45,486,743			—			—
				Financials			312,149,327			312,149,327			—			—
				Health care			22,710,486			22,710,486			—			—
				Industrials			3,396,683			3,396,683			—			—
				Real estate			14,625,558			1,133,100			$13,492,458			—
				Telecommunication services			32,655,377			31,105,577			1,549,800			—
				Utilities			171,501,682			164,107,569			7,394,113			—
	Corporate bonds						27,002,250			—			27,002,250			—
	Short-term investments						5,113,000			—			5,113,000			—
	Total investments in securities						$1,287,618,953			$1,233,067,332			$54,551,621			—
	Derivatives:
	Assets
	Futures						$3,244,158			$3,244,158			—			—
	Swap contracts						1,626,244			—			$1,626,244			—
	Liabilities
	Written options						$(1,116,773	)		$(1,116,773	)		—			—

Securities with market value of approximately $13,173,840 at the beginning of the year were transferred from Level 1 to Level 2 during the period since quoted prices in active markets for identical securities were no longer available and securities were valued using other significant observable inputs.

       7

Repurchase agreements. The fund may enter into repurchase agreements. When the fund enters into a repurchase agreement, it receives collateral that is held in a segregated account by the fund's custodian. The collateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. Collateral received by the fund for repurchase agreements is disclosed in the Fund's investments as part of the caption related to the repurchase agreement.

Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/or Global Master Repurchase Agreement (collectively, MRA). Upon an event of default, the non-defaulting party may close out all transactions traded under the MRA and net amounts owed. Absent an event of default, assets and liabilities resulting from repurchase agreements are not offset. In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the collateral value may decline or the counterparty may have insufficient assets to pay back claims resulting from close-out of the transactions.

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

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

During the period ended January 31, 2018, the fund used futures contracts to manage against anticipated interest rate changes.

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

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

During the period ended January 31, 2018, the fund wrote option contracts to hedge against anticipated changes in securities markets and to generate potential income.

Interest rate swaps. Interest rate swaps represent an agreement between the fund and a counterparty to exchange cash flows based on the difference between two interest rates applied to a notional amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other. The fund settles accrued net interest receivable or payable under the swap contracts at specified, future intervals. Swap agreements are privately negotiated in the OTC market or may be executed on a registered commodities exchange (centrally cleared swaps). Swaps are marked-to-market daily and the change in value is recorded as unrealized appreciation/depreciation of swap contracts. A termination payment by the counterparty or the fund is recorded as realized gain or loss, as well as the net periodic payments received or paid by the fund. The value of the swap will typically impose collateral posting obligations on the party that is considered out-of-the-money on the swap.

During the period ended January 31, 2018, the fund used interest rate swaps to manage against anticipated interest rate changes.

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

       8

More information

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

	P13Q1	01/18
This report is for the information of the shareholders of John Hancock Tax-Advantaged Dividend Income Fund.		3/18