HPF - John Hancock Preferred Income Fund II

What this means for you

None of the investors we follow has reported owning 5% or more of this fund. That is the normal state for most closed-end funds.

Nothing is required of you. If that changes, the notice appears here within a day of being filed with the regulator.

Email me if this changes

What happened, and when

Nothing on file yet. No large investor has reported a stake in this fund, and the fund has not announced a buy-back, a vote or a closing.

About this fund

• Run by John Hancock Investment Management LLC. Part of the John Hancock Group of Funds fund family. As of July 31, 2026, from the fund's yearly report. Original document →
• Size: about $325 million of holdings, as of July 31, 2026. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 39% on top of its own money, as of July 31, 2026. Borrowed money makes gains and losses bigger. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 1.3% a year in management fees; 4.1% a year in total, including interest on borrowed money. Fiscal year ended July 31, 2026. As of July 31, 2026, from the fund's yearly report. Original document →
  Among the 14 funds we follow that invest in preferred shares, 9 charge a lower management fee and 6 charge less in total, at their last yearly reports. Both numbers are measured against the fund's own money, not the money it borrows on top, so a fund that borrows more shows higher costs on both counts.
• Payouts: last fiscal year (ended July 31, 2026) the fund paid $1.48 a share. $1.13 of that was income; $0.35 was your own money back, not income. Most funds announce their monthly or quarterly payout on their own website, not in a filing with the regulator, so a cut or a raise there does not show up here until the next yearly report. A few funds do file a notice about a fixed payout; those appear under What happened, and when. As of July 31, 2026, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (July 31, 2026): $15.00. The shares traded at $15.84, about 5.6% above that. As of July 31, 2026, from the fund's yearly report. Original document →
• How the holdings did: up 0.9% over the last three months we have (May-July 2026), before the share price is taken into account. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• First reported to the regulator in 2002.

How this has changed

• Payouts per share: $1.48 in the fiscal year ended July 31, 2026; $1.48 in the year ended July 31, 2025; $1.48 in the year ended July 31, 2024.As of July 31, 2026, from the fund's annual report. Original document →
• Of that, your own money back rather than income: $0.35 in the year ended July 31, 2026; $0.33 in the year ended July 31, 2025; $0.29 in the year ended July 31, 2024.As of July 31, 2026, from the fund's annual report. Original document →
• Costs, including interest on borrowed money: 4.1% a year in the fiscal year ended July 31, 2026; 4.51% a year in the year ended July 31, 2025; 5.19% a year in the year ended July 31, 2024.As of July 31, 2026, from the fund's annual report. Original document →
• Size of the holdings: about $325 million at July 31, 2026; $343 million at July 31, 2025; $345 million at July 31, 2024. From the fund's quarterly holdings reports. Original documents: July 31, 2026 →, July 31, 2025 →, July 31, 2024 →.
• Borrowing: about 39% on top of its own money at July 31, 2026; 38% at July 31, 2025; 38% at July 31, 2024. From the fund's quarterly holdings reports. Original documents: July 31, 2026 →, July 31, 2025 →, July 31, 2024 →.
• The fund had about 21.7 million shares at July 31, 2026, about the same as at July 31, 2024.As of July 31, 2026, from the fund's annual report. Original document →

What these lines mean: a payout that is your own money back, what a fund costs, borrowing.

What a holder made

• The year ended July 31, 2026: the shares returned +8.5%, counting payouts; the holdings +3.9%. The holdings figure is what the fund's investments earned, before the share price is taken into account. As of July 31, 2026, from the fund's annual report. Original document →
• The year ended July 31, 2025: the shares returned +3.8%, counting payouts; the holdings +8.7%. As of July 31, 2025, from the fund's annual report. Original document →
• The year ended July 31, 2024: the shares returned +17.7%, counting payouts; the holdings +16.3%. As of July 31, 2024, from the fund's annual report. Original document →
• The year ended July 31, 2023: the shares returned -7.4%, counting payouts; the holdings -6.7%. As of July 31, 2023, from the fund's annual report. Original document →
• The year ended July 31, 2022: the shares returned -7.7%, counting payouts; the holdings -6.3%. As of July 31, 2022, from the fund's annual report. Original document →
• Those five years together: the shares returned +13.2%. $10,000 of shares bought at the start (Aug 1, 2021) would have become about $11,300 by July 31, 2026, with every payout counted, before tax. As of July 31, 2026, from the fund's annual report. Original document →
• The holdings over the last twelve months we have, to July 31, 2026: +8.5%. The quarterly reports carry no share price, so this is the holdings alone. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• Of the 5 funds that invest in preferred shares with a fiscal year ending within six months of this one, 2 reported a higher share return for that year and 2 a lower one. As of July 31, 2026, from the fund's annual report. Original document →
• A past year says nothing about the next one. All figures are the fund's own, from its reports to the regulator.

Why the shares and the holdings can differ: the gap between price and value. Why payouts count: a payout that is your own money back.

What the fund holds

Mostly preferred shares (54%), the rest bonds. About 89% issued in the U.S.

1. Athene Holding Ltd Preferred Stock Var - 4.3%
2. Citizens Financial Group Inc. - 3.5%
3. SBL Holdings LLC - 3.2%
4. Citigroup Inc Jr Subordina 12/99 Var - 3.2%
5. Bank of America Corp Preferred Stock 7.25 - 2.8%
6. Wells Fargo and Company, WELLS FARGO and CO PREFERRED STOCK 7.5 - 2.7%
7. Vistra Corp Jr Subordina 144A 12/99 Var - 2.2%
8. Venture Global Lng Inc Jr Subordina 144A 12/99 Var - 2%
9. Energy Transfer L.P. Jr Subordina 12/99 Var - 2%
10. Telephone and Data Systems Inc Preferred Stock 6 - 1.8%

As of July 31, 2026, from the fund's quarterly holdings report. Original document →