John Hancock

Tax-Advantaged Dividend Income Fund

Quarterly portfolio holdings 7/31/16

	As of 7-31-16 (unaudited)
																			Shares			Value
	Common stocks 70.1% (48.4% of Total investments)																					$667,462,052
	(Cost $458,546,359)
	Energy 13.3%																					127,026,524
	Oil, gas and consumable fuels 13.3%
	BP PLC, ADR																		567,500			19,522,000
	Chevron Corp.																		40,000			4,099,200
	ConocoPhillips																		195,000			7,959,900
	Kinder Morgan, Inc.																		232,000			4,716,560
	ONEOK, Inc. (L)(Z)																		500,000			22,395,000
	Royal Dutch Shell PLC, ADR, Class A																		478,584			24,785,865
	Spectra Energy Corp. (L)(Z)																		1,130,442			40,661,999
	TOTAL SA, ADR																		60,000			2,886,000
	Materials 0.1%																					842,400
	Metals and mining 0.1%
	Freeport-McMoRan, Inc. (L)(Z)																		65,000			842,400
	Telecommunication services 2.5%																					23,372,697
	Diversified telecommunication services 1.9%
	AT&T, Inc.																		250,000			10,822,500
	Verizon Communications, Inc.																		129,160			7,156,756
	Wireless telecommunication services 0.6%
	Vodafone Group PLC, ADR (L)(Z)																		174,545			5,393,441
	Utilities 54.2%																					516,220,431
	Electric utilities 26.3%
	Alliant Energy Corp.																		390,000			15,697,500
	American Electric Power Company, Inc. (L)(Z)																		590,000			40,887,000
	Avangrid, Inc. (L)(Z)																		475,000			21,441,500
	Duke Energy Corp. (L)(Z)																		320,000			27,388,800
	Entergy Corp.																		298,000			24,254,220
	Eversource Energy (L)(Z)																		490,000			28,660,100
	FirstEnergy Corp. (L)(Z)																		582,500			20,340,900
	OGE Energy Corp. (C)(L)																		540,000			17,371,800
	Pinnacle West Capital Corp.																		50,000			3,943,500
	PPL Corp.																		500,000			18,855,000
	The Southern Company (L)(Z)																		375,000			20,062,500
	Xcel Energy, Inc. (L)(Z)																		270,000			11,874,600
	Gas utilities 5.0%
	Atmos Energy Corp. (L)(Z)																		350,000			27,926,500
	ONE Gas, Inc.																		170,000			11,043,200
	Questar Corp. (L)(Z)																		350,000			8,809,500
	Independent power and renewable electricity producers 0.1%
	Talen Energy Corp. (I)																		62,453			849,361
	Multi-utilities 22.8%
	Ameren Corp. (L)(Z)																		540,000			28,317,600
	Black Hills Corp.																		440,000			27,742,000
	CenterPoint Energy, Inc. (L)(Z)																		1,020,000			24,398,400
	Dominion Resources, Inc. (L)(Z)																		400,000			31,208,000
	DTE Energy Company (L)(Z)																		250,000			24,380,000
	National Grid PLC, ADR																		255,000			18,474,750
	NiSource, Inc.																		770,000			19,758,200
	Public Service Enterprise Group, Inc.																		70,000			3,220,700

																			Shares			Value
	Utilities  (continued)
	Multi-utilities  (continued)
	Vectren Corp.																		760,000			39,314,800
	Preferred securities 73.2% (50.5% of Total investments)																					$696,724,442
	(Cost $633,138,366)
	Energy 4.3%																					40,538,990
	Oil, gas and consumable fuels 4.3%
	Kinder Morgan, Inc., 9.750%																		830,717			40,538,990
	Financials 43.2%																					411,028,667
	Banks 26.5%
	Bank of America Corp., 6.375% (Z)																		139,000			3,602,880
	Bank of America Corp., 6.500% (Z)																		153,476			4,196,034
	Bank of America Corp., 6.625% (Z)																		355,000			9,460,750
	Bank of America Corp., Depositary Shares, Series D, 6.204% (Z)																		230,000			5,950,100
	Barclays Bank PLC, Series 5, 8.125% (C)																		610,000			15,945,400
	BB&T Corp., 5.625%																		606,000			15,949,920
	BB&T Corp. (Callable 11-1-17), 5.200% (Z)																		225,000			5,856,750
	BB&T Corp. (Callable 6-1-18), 5.200%																		480,000			12,801,600
	Citigroup, Inc. (6.875% to 11-15-23, then 3 month LIBOR + 4.130%) (Z)																		35,000			1,041,950
	Citigroup, Inc. (7.125% to 9-30-23, then 3 month LIBOR + 4.040%) (Z)																		163,997			4,933,030
	Citigroup, Inc., Depositary Shares, Series AA, 8.125% (L)(Z)																		270,400			7,711,808
	HSBC Holdings PLC, 8.000% (C)																		325,000			8,719,750
	HSBC Holdings PLC, 8.125% (Z)																		50,000			1,392,000
	ING Groep NV, 6.200%																		109,100			2,820,235
	ING Groep NV, 7.050%																		150,000			3,960,000
	JPMorgan Chase & Co., 5.450% (Z)																		245,000			6,333,250
	JPMorgan Chase & Co., 5.500% (Z)																		980,000			25,372,200
	JPMorgan Chase & Co., 6.100% (Z)																		510,000			13,826,100
	JPMorgan Chase & Co., 6.125% (Z)																		98,888			2,679,865
	JPMorgan Chase & Co., 6.700% (Z)																		30,000			836,700
	Royal Bank of Scotland Group PLC, Series L, 5.750%																		760,000			19,038,000
	Santander Holdings USA, Inc., Series C, 7.300%																		120,000			3,114,000
	The PNC Financial Services Group, Inc., 5.375% (C)																		280,000			7,288,400
	The PNC Financial Services Group, Inc. (6.125% to 5-1-22, then 3 month LIBOR + 4.067%) (Z)																		40,000			1,212,800
	U.S. Bancorp, 5.150% (C)																		720,000			19,483,200
	U.S. Bancorp (6.500% to 1-15-22, then 3 month LIBOR + 4.468%) (Z)																		296,000			9,078,320
	Wells Fargo & Company, 6.000% (Z)																		215,000			5,873,800
	Wells Fargo & Company, 8.000% (Z)																		1,200,000			33,900,000
	Capital markets 15.1%
	Deutsche Bank Contingent Capital Trust II, 6.550% (C)																		310,000			7,787,200
	Deutsche Bank Contingent Capital Trust III, 7.600%																		797,893			20,497,871
	Morgan Stanley, 6.625% (Z)																		1,057,915			28,986,871
	Morgan Stanley (6.375% to 10-15-24, then 3 month LIBOR + 3.708%)																		220,000			6,162,200
	Morgan Stanley (7.125% to 10-15-23, then 3 month LIBOR + 4.320%)																		300,000			9,048,000
	State Street Corp., 5.250%																		910,000			23,942,100
	State Street Corp., 6.000%																		192,065			5,385,503
	State Street Corp. (5.900% to 3-15-24, then 3 month LIBOR + 3.108%) (Z)																		25,000			735,750
	The Bank of New York Mellon Corp., 5.200%																		425,000			11,232,750
	The Goldman Sachs Group, Inc., 5.950% (C)																		950,000			24,576,500
	The Goldman Sachs Group, Inc., Series B, 6.200%																		215,000			5,650,200

																			Shares			Value
	Financials  (continued)
	Consumer finance 1.0%
	Capital One Financial Corp., 6.200%																		80,000			2,198,400
	Capital One Financial Corp., 6.700% (Z)																		126,569			3,626,202
	SLM Corp., Series A, 6.970%																		74,000			3,700,000
	Insurance 0.4%
	Aegon NV, 6.500%																		96,512			2,561,428
	Prudential Financial, Inc., 5.750% (Z)																		40,000			1,072,800
	Real estate investment trusts 0.2%
	Ventas Realty LP, 5.450%																		45,000			1,226,250
	Thrifts and mortgage finance 0.0%
	Federal National Mortgage Association, Series S, 8.250% (I)																		60,000			259,800
	Health care 2.6%																					24,331,199
	Pharmaceuticals 2.6%
	Teva Pharmaceutical Industries, Ltd., 7.000%																		27,400			24,331,199
	Industrials 0.3%																					3,297,500
	Machinery 0.3%
	Stanley Black & Decker, Inc., 5.750% (L)(Z)																		125,000			3,297,500
	Telecommunication services 5.2%																					49,720,080
	Diversified telecommunication services 3.5%
	Qwest Corp., 6.125%																		730,000			18,782,900
	Qwest Corp., 7.375%																		366,000			9,464,760
	Qwest Corp., 7.500%																		120,000			3,075,600
	Verizon Communications, Inc., 5.900% (Z)																		60,000			1,677,000
	Wireless telecommunication services 1.7%
	Telephone & Data Systems, Inc., 5.875%																		340,000			8,806,000
	Telephone & Data Systems, Inc., 6.625%																		30,000			805,500
	Telephone & Data Systems, Inc., 6.875%																		243,000			6,327,720
	United States Cellular Corp., 6.950%																		30,000			780,600
	Utilities 17.6%																					167,808,006
	Electric utilities 15.4%
	Duke Energy Corp., 5.125%																		210,000			5,565,000
	Entergy Arkansas, Inc., 4.560%																		9,388			933,226
	Entergy Arkansas, Inc., 6.450%																		135,000			3,651,750
	Entergy Mississippi, Inc., 4.920%																		8,190			789,823
	Entergy Mississippi, Inc., 6.250% (C)																		197,500			5,186,350
	Gulf Power Company, 5.600%																		100,155			10,378,141
	Interstate Power & Light Company, 5.100%																		1,380,000			38,157,000
	Mississippi Power Company, 5.250%																		257,500			6,682,125
	NextEra Energy Capital Holdings, Inc., 5.000%																		110,000			2,812,700
	NextEra Energy Capital Holdings, Inc., 5.700%																		225,000			5,928,750
	PPL Capital Funding, Inc., 5.900%																		1,010,000			27,037,700
	SCE Trust I, 5.625%																		143,777			3,782,773
	SCE Trust II, 5.100%																		1,275,000			33,558,000
	The Southern Company, 6.250%																		80,000			2,240,000
	Multi-utilities 2.2%
	BGE Capital Trust II, 6.200%																		247,000			6,523,270
	DTE Energy Company, 5.250% (C)																		165,000			4,257,000
	DTE Energy Company, 6.500%																		175,000			4,567,500
	Integrys Holding, Inc. (6.000% to 8-1-23, then 3 month LIBOR + 3.220%)																		210,000			5,756,898

							Rate (%				)		Maturity date			Par value^						Value
	Corporate bonds 0.3% (0.2% of Total investments)																					$3,345,000
	(Cost $3,000,000)
	Utilities 0.3%																					3,345,000
	Electric utilities 0.3%
	Southern California Edison Company (6.250% to 2-1-22, then 3 month LIBOR + 4.199%) (Q)						6.250						02-01-22			3,000,000						3,345,000
							Yield				*(%)		Maturity date			Par value^						Value
	Short-term investments 1.3% (0.9% of Total investments)																					$12,022,000
	(Cost $12,022,000)
	U.S. Government Agency 0.6%																					5,886,000
	Federal Home Loan Bank Discount Note						0.150						08-01-16			5,886,000						5,886,000
																			Par value^			Value
	Repurchase agreement 0.7%																					6,136,000
	Repurchase Agreement with State Street Corp. dated 7-29-16 at 0.030% to be repurchased at $6,136,015 on 8-1-16, collateralized by $6,210,000 Federal National Mortgage Association, 1.985% due 9-29-21 (valued at $6,264,338, including interest).																		6,136,000			6,136,000
	Total investments (Cost $1,106,706,725)† 144.9%																					$1,379,553,494
	Other assets and liabilities, net (44.9%)																					($427,678,948	)
	Total net assets 100.0%																					$951,874,546

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.

Key to Security Abbreviations and Legend

ADR

American Depositary Receipts

LIBOR

London Interbank Offered Rate

(C)

All or a portion of this security is segregated as collateral for options. Total collateral value at 7-31-16 was $105,759,585.

(I)

Non-income producing security.

(L)

A portion of this security is on loan as of 7-31-16, and is a component of the fund's leverage under the Liquidity Agreement. The value of securities on loan amounted to $343,187,372.

(Q)

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

(Z)

A portion of this security is segregated as collateral pursuant to the Liquidity Agreement. Total collateral value at 7-31-16 was $500,620,449.

*

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.

†

At 7-31-16, the aggregate cost of investment securities for federal income tax purposes was $1,113,223,518. Net unrealized appreciation aggregated to $266,329,976, of which $289,381,854 related to appreciated investment securities and $23,051,878 related to depreciated investment securities.

The fund had the following country composition as a percentage of total investments on 7-31-16:

	United States			89.1
	United Kingdom			6.4
	Netherlands			2.5
	Israel			1.8
	France			0.2
	Total			100.0

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. The time at which shares and transactions are priced and until which orders are accepted may vary to the extent permitted by the Securities and Exchange Commission and applicable regulations.

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 was acquired or most likely will be sold. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Debt obligations are valued based on the evaluated prices provided by an independent pricing vendor or from broker-dealers. Independent pricing vendors utilize matrix pricing which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Options listed on an exchange are valued at the mean of the most recent bid and ask prices from the exchange where the option was acquired or most likely will be sold. Swaps are valued using evaluated prices obtained from an independent pricing vendor. Futures contracts are valued at settlement prices, which are the official closing prices published by the exchange on which they trade. Foreign securities are valued in U.S. dollars, based on foreign currency exchange rates supplied by an independent pricing vendor.

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 July 31, 2016, by major security category or type:

							Total value at 7-31-16			Level 1 quoted price			Level 2 significant observable inputs			Level 3 significant unobservable inputs
	Common stocks
				Energy			$127,026,524			$127,026,524			—			—
				Materials			842,400			842,400			—			—
				Telecommunication services			23,372,697			23,372,697			—			—
				Utilities			516,220,431			516,220,431			—			—
	Preferred securities
				Energy			40,538,990			40,538,990			—			—
				Financials			411,028,667			411,028,667			—			—
				Health care			24,331,199			24,331,199			—			—
				Industrials			3,297,500			3,297,500			—			—
				Telecommunication services			49,720,080			48,043,080			1,677,000			—
				Utilities			167,808,006			144,763,568			23,044,438			—
	Corporate bonds						3,345,000			—			3,345,000			—
	Short-term investments						12,022,000			—			12,022,000			—
	Total investments in securities						$1,379,553,494			$1,339,465,056			$40,088,438			—
	Other financial instruments:
	Futures						($3,515,847	)		($3,515,847	)		—			—
	Written options						(1,316,377	)		(1,316,377	)		—			—
	Interest rate swaps						(558,048	)		—			($558,048	)		—

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

       6

not less than the principal amount of the repurchase agreement plus any accrued interest. Collateral received by the fund for repurchase agreements is disclosed in the Fund's investments as part of the caption related to the repurchase agreement.

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

Derivative instruments. The fund may invest in derivatives in order to meet its investment objectives. Derivatives include a variety of different instruments that may be traded in the 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 July 31, 2016, the fund used futures contracts to manage against anticipated interest rate changes. The following table summarizes the contracts held at July 31, 2016:

	Open contracts			Number of contracts			Position			Expiration date			Notional basis			Notional value			Unrealized appreciation (depreciation)
	10-Year U.S. Treasury Note Futures			980			Short			Sep 2016			($126,870,091	)		($130,385,938	)		($3,515,847	)
																			($3,515,847	)

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

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

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

During the period ended July 31, 2016, the fund wrote option contracts to hedge against anticipated changes in securities markets and to generate potential income. The following tables summarize the fund's written options activities during the period ended July 31, 2016 and the contracts held at July 31, 2016:

							Number of contracts			Premiums received
	Outstanding, beginning of period						660			$2,243,192
				Options written			6,280			15,475,851
				Option closed			(5,438	)		(16,091,414	)
				Options exercised
				Options expired			(365	)		(283,224	)
	Outstanding, end of period						1,137			$1,344,405

	Name of issuer			Exercise price						Expiration date			Number of contracts			Premium			Value
	Calls
	Philadelphia Utility Index			$660						Sep 2016			95			$99,834			($109,250	)
	S&P 100 Index			1,020						Sep 2016			543			40,296			(24,435	)
	S&P 500 Index			2,200						Aug 2016			48			32,122			(28,560	)
	S&P 500 Index			4,410						Aug 2016			96			60,404			(46,762	)
	S&P 500 Index			2,210						Aug 2016			48			28,282			(17,520	)
	S&P 500 Index			2,165						Sep 2016			307			1,083,467			(1,089,850	)

       7

Name of issuer

Exercise price

Expiration date

Number of contracts

Premium

Value

Calls

Total

1,137

$1,344,405

($1,316,377

)

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). Upfront payments made/received by the fund are amortized/accreted for financial reporting purposes, with the unamortized/unaccreted portion included in the Statement of assets and liabilities. (include previous sentence only if applies) Swaps are marked-to-market daily and the change in value is recorded as unrealized appreciation/depreciation of swap contracts. A termination payment by the counterparty or the fund is recorded as realized gain or loss, as well as the net periodic payments received or paid by the fund. The value of the swap will typically impose collateral posting obligations on the party that is considered out-of-the-money on the swap.

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

Counterparty

USD notional amount

Payments made by fund

Payments received by fund

Maturity date

Market value

Morgan Stanley Capital Services

$86,000,000

Fixed 1.4625%

3-Month LIBOR (a)

Aug 2016

($494,847

)

Morgan Stanley Capital Services

86,000,000

Fixed 0.8750%

3-Month LIBOR (a)

Jul 2017

(63,201

)

Total

$172,000,000

($558,048

)

^(a) At 7-31-16, the 3-Month LIBOR rate was 0.7591%

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

	P13Q3	07/16
This report is for the information of the shareholders of John Hancock Tax-Advantaged Dividend Income Fund.		9/16