2_NQcoverpage-IncomeSecuritiesTrust.htm

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- 4186

John Hancock Income Securities Trust
(Exact name of registrant as specified in charter)

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

Alfred P. Ouellette, Attorney and Assistant Secretary

601 Congress Street

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

Registrant's telephone number, including area code: 617-663-4324

Date of fiscal year end:  December 31 
   
Date of reporting period:  March 31, 2006 

ITEM 1. SCHEDULE OF INVESTMENTS


John Hancock               
Income Securities Trust           
Securities owned by the Fund on 
March 31, 2006 (unaudited)           
 
 
      Interest  Maturity  Credit  Par value   
Issuer, description      rate (%)  date  rating (A)  ($000)  Value 
 
Bonds 63.76%            $162,263,480 
(Cost $165,736,864)               
   
Advertising 0.18%              467,500 
R.H. Donnelley Corp.,             
Sr Disc Note (S)      6.875  01-15-13  B  200  187,000 
Sr Disc Note (S)      6.875  01-15-13  B  300  280,500 
   
Agricultural Products 0.35%            902,723 
Corn Products International, Inc.,             
Sr Note      8.450  08-15-09  BBB-  835  902,723 
 
Airlines 0.41%              1,030,628 
Continental Airlines, Inc.,             
Pass Thru Ctf Ser 1999-1 Class A    6.545  02-02-19  A-  373  378,276 
Pass Thru Ctf Ser 2000-2 Class B (L)    8.307  10-02-19  BB-  421  406,029 
Pass Thru Ctf Ser 2001-1 Class C    7.033  06-15-11  B+  257  246,268 
Jet Equipment Trust,               
Equip Trust Ctf Ser 1995-B2 (B)(H)(S)    10.910  08-15-14  D  550  55 
 
Asset Management & Custody Banks  0.40%          1,023,660 
Rabobank Capital Fund II,             
Perpetual Bond (5.260% to 12-31-13 then           
variable) (S)      5.260  12-29-49  AA  1,065  1,023,660 
   
Broadcasting & Cable TV 1.01%            2,559,867 
Clear Channel Communications, Inc.,             
Note      5.500  09-15-14  BBB-  460  425,040 
Comcast Cable Communications Holdings, Inc.,           
Gtd Note      8.375  03-15-13  BBB+  1,020  1,147,142 
Comcast Corp.,               
Gtd Note      5.900  03-15-16  BBB+  450  441,310 
XM Satellite Radio, Inc.,             
Sr Sec Disc Note      14.000  12-31-09  CCC+  509  546,375 
   
Building Products  0.79%            2,021,942 
Pulte Homes Inc,               
Sr Note (L)      6.250  02-15-13  BBB-  1,000  998,713 
Toll Brothers, Inc.,               
Gtd Sr Note (S)      6.875  11-15-12  BBB-  1,000  1,023,229 
 
Casinos & Gaming  0.77%            1,969,296 
Chukchansi Economic Development Auth,           
Sr Note (S)      8.000  11-15-13  BB-  460  471,500 
Little Traverse Bay Bands of Odawa Indians,           
Sr Note (S)      10.250  02-15-14  B  405  399,431 

Page 1

John Hancock             
Income Securities Trust             
Securities owned by the Fund on             
March 31, 2006 (unaudited)             
 
Majestic Star Casino LLC/Majestic Star Casino             
Capital II LLC,             
Sr Sec Note (S)    9.750  01-15-11  B-  250  252,500 
Mashantucket West Pequot,             
Bond (S)    5.912  09-01-21  BBB-  285  273,081 
Waterford Gaming, LLC,             
Sr Note (S)    8.625  09-15-12  B+  541  572,784 
 
Commercial Printing 0.19%            487,643 
Quebecor World Capital Corp.,             
Sr Note (Canada) (S)    8.750  03-15-16  BB-  500  487,643 
 
Commodity Chemicals 0.71%            1,795,418 
Lyondell Chemical Co.,             
Gtd Sr Sub Note    10.875  05-01-09  B  500  507,500 
RPM International, Inc.,             
Sr Note    6.250  12-15-13  BBB  1,300  1,287,918 
 
Construction & Farm Machinery & Heavy Trucks  0.20%          510,000 
Manitowoc Co., Inc., (The),             
Gtd Sr Note    7.125  11-01-13  BB-  500  510,000 
 
Construction Materials 0.16%            418,275 
Votorantim Overseas IV,             
Gtd Note (Cayman Islands) (S)    7.750  06-24-20  BBB-  390  418,275 
 
Consumer Finance 0.91%            2,312,623 
Ford Motor Credit Co.,             
Note    7.375  10-28-09  BBB-  1,625  1,527,716 
HSBC Finance Capital Trust IX,             
Note (5.911% to 11-30-15 then variable)    5.911  11-30-35  BBB+  800  784,907 
 
Department Stores 0.28%            714,493 
Penney J.C. Co., Inc.,             
Deb    8.125  04-01-27  BB+  215  224,406 
Deb    7.650  08-15-16  BBB-  445  490,087 
 
Diversified Banks 1.60%            4,074,774 
Bank of New York,             
Cap Security (S)    7.780  12-01-26  A-  650  683,613 
Barclays Bank Plc,             
Perpetual Bond (6.86% to 6-15-32 then             
variable) (United Kingdom) (S)    6.860  09-29-49  A+  1,655  1,750,689 
Chuo Mitsui Trust & Banking Co., Ltd.,             
Perpetual Sub Note (5.506% to 04-15-15 then             
variable) (Japan) (S)    5.506  12-01-49  Baa2  940  892,133 
Royal Bank of Scotland Group Plc,             
Perpetual Bond (7.648% to 09-30-31 then             
variable) (United Kingdom)    7.648  08-29-49  A  650  748,339 

Page 2

John Hancock           
Income Securities Trust           
Securities owned by the Fund on           
March 31, 2006 (unaudited)           
 
Diversified Chemicals 0.81%          2,057,781 
NOVA Chemicals Corp.,           
Med Term Note (Canada) (L)  7.400  04-01-09  BB+  2,045  2,057,781 
 
Diversified Commercial Services 0.75%          1,904,198 
Hutchison Whampoa International Ltd.,           
Gtd Sr Note (Cayman Islands) (S)  6.500  02-13-13  A-  750  770,244 
Noble Group Ltd.,           
Sr Note (Bermuda) (S)  6.625  03-17-15  BB+  1,000  883,954 
Sotheby's Holdings, Inc.,           
Note  6.875  02-01-09  BB-  250  250,000 
 
Diversified Financial Services 0.36%          912,890 
St. George Funding Co.,           
Perpetual Bond (8.485% to 06-30-17 then           
variable) (Australia) (S)  8.485  12-31-49  Baa1  870  912,890 
 
Electric Utilities 5.58%          14,204,095 
AES Eastern Energy L.P.,           
Pass Thru Ctf Ser 1999-A  9.000  01-02-17  BB+  1,075  1,218,689 
Beaver Valley Funding Corp.,           
Sec Lease Obligation Bond  9.000  06-01-17  BBB-  513  579,300 
BVPS II Funding Corp.,           
Collateralized Lease Bond  8.890  06-01-17  BB+  700  802,361 
Empresa Electrica Guacolda S.A.,           
Sr Sec Note (S)  8.625  04-30-13  BBB-  810  879,911 
FPL Energy National Wind,           
Sr Sec Note (S)  5.608  03-10-24  BBB-  380  365,128 
HQI Transelect Chile S.A.,           
Sr Note (Chile)  7.875  04-15-11  A-  1,230  1,315,834 
Indiantown Cogeneration, L.P.,           
1st Mtg Note Ser A-9  9.260  12-15-10  BB+  448  472,459 
IPALCO Enterprises, Inc.,           
Sr Sec Note  8.625  11-14-11  BB-  325  355,062 
Kansas Gas & Electric Co.,           
Bond  5.647  03-29-21  BB-  440  420,191 
Midland Funding Corp. II,           
Lease Obligation Bond Ser B  13.250  07-23-06  BB-  2,019  2,055,805 
Monterrey Power S.A. de C.V.,           
Sr Sec Bond (Mexico) (S)  9.625  11-15-09  BBB  514  568,326 
Pepco Holdings, Inc.,           
Note  6.450  08-15-12  BBB  565  583,285 
PNPP II Funding Corp.,           
Deb  9.120  05-30-16  BB+  491  560,388 
PPL Energy Supply LLC,           
Sr Note Ser A  6.400  11-01-11  BBB  650  671,552 
Progress Energy, Inc.,           
Sr Note  5.625  01-15-16  BBB-  200  196,199 
System Energy Resources, Inc.,           
Sec Bond (S)  5.129  01-15-14  BBB  409  395,955 
TransAlta Corp.,           
Note (Canada)  5.750  12-15-13  BBB-  1,000  988,180 

Page 3

John Hancock             
Income Securities Trust           
Securities owned by the Fund on           
March 31, 2006 (unaudited)           
 
TXU Corp.,             
Sec Bond    7.460  01-01-15  BBB  592  609,041 
Waterford 3 Funding Corp.,           
Sec Lease Obligation Bond  8.090  01-02-17  BBB-  1,131  1,166,429 
 
Electronic Equipment Manufacturers 0.32%          816,187 
Thomas & Betts Corp.,             
Sr Note    7.250  06-01-13  BBB-  775  816,187 
 
Food Distributors 0.22%          548,180 
Tyson Foods, Inc.,             
Sr Note (P)    6.600  04-01-16  BBB  555  548,180 
 
Food Retail 1.22%            3,099,159 
Ahold Finance USA, Inc.,           
Gtd Pass Thru Ctf Ser 2001A-1  7.820  01-02-20  BB  1,307  1,364,132 
Delhaize America, Inc.,             
Gtd Note    9.000  04-15-31  BB+  1,500  1,735,027 
 
Gas Utilities 0.98%            2,502,792 
Energy Transfer Partners,           
Gtd Sr Note (G)    5.950  02-01-15  BBB-  1,210  1,199,258 
Kinder Morgan Finance Co.,           
Gtd Sr Note    6.400  01-05-36  BBB  530  516,063 
KN Capital Trust I,             
Gtd Cap Security Ser B  8.560  04-15-27  BB+  240  254,683 
NorAm Energy Corp.,             
Deb    6.500  02-01-08  BBB  525  532,788 
 
Health Care Facilities  0.34%          871,539 
Manor Care, Inc.,             
Gtd Note    6.250  05-01-13  BBB  875  871,539 
 
Health Care Services  0.38%          969,949 
Alliance Imaging, Inc.,             
Sr Sub Note (L)    7.250  12-15-12  B-  440  381,700 
WellPoint, Inc.,             
Bond    5.250  01-15-16  BBB+  610  588,249 
 
Hotels, Resorts & Cruise Lines 0.42%          1,074,677 
Hyatt Equities LLC,             
Note (S)    6.875  06-15-07  BBB  1,060  1,074,677 
 
Industrial Machinery  0.87%          2,223,590 
Kennametal, Inc.,             
Sr Note    7.200  06-15-12  BBB  1,405  1,493,067 
Trinity Industries, Inc.,             
Pass Thru Ctf (S)    7.755  02-15-09  Ba1  718  730,523 

Page 4

John Hancock           
Income Securities Trust           
Securities owned by the Fund on           
March 31, 2006 (unaudited)           
 
Integrated Oil & Gas 0.78%          1,985,830 
Pemex Project Funding Master Trust,           
Gtd Note  9.125  10-13-10  BBB  615  691,875 
Petro-Canada,           
Deb (Canada)  9.250  10-15-21  BBB  1,000  1,293,955 
 
Integrated Telecommunication Services 1.93%          4,916,319 
AT&T Corp.,           
Gtd Sr Note (P)  9.750  11-15-31  A  510  608,972 
Bellsouth Corp.,           
Deb  6.300  12-15-15  A  1,079  1,092,020 
Qwest Capital Funding, Inc.,           
Gtd Note  7.000  08-03-09  B  1,000  1,015,000 
Sprint Capital Corp.,           
Gtd Sr Note  6.900  05-01-19  A-  1,000  1,068,313 
Telefonos de Mexico, S.A. de C.V.,           
Note (Mexico)  5.500  01-27-15  BBB  765  728,389 
Verizon Global Funding Corp.,           
Bond  5.850  09-15-35  A  450  403,625 
 
Investment Banking & Brokerage 0.79%          2,019,743 
Goldman Sachs Group, Inc. (The),           
Sr Note  5.350  01-15-16  A+  645  622,980 
Lehman Brothers Holdings, Inc.,           
Med Term Note  5.500  04-04-16  A+  610  598,013 
Mizuho Financial Group Cayman Ltd.,           
Gtd Sub Bond (Cayman Islands)  8.375  12-29-49  A2  750  798,750 
 
IT Consulting & Other Services 0.16%          401,907 
NCR Corp.,           
Note  7.125  06-15-09  BBB-  390  401,907 
 
Leisure Facilities 0.15%          379,275 
AMC Entertainment, Inc.,           
Sr Sub Note (L)  9.500  02-01-11  CCC+  390  379,275 
 
Life & Health Insurance 0.60%          1,519,854 
Phoenix Cos., Inc. (The),           
Bond  6.675  02-16-08  BBB  510  511,339 
Phoenix Life Insurance Co.,           
Note (S)  7.150  12-15-34  BBB+  440  446,412 
Provident Financing Trust I,           
Gtd Cap Security (L)  7.405  03-15-38  B+  600  562,103 
 
Marine 0.27%          693,171 
CMA CGM S.A.,           
Sr Note (France) (L)(S)  7.250  02-01-13  BB+  700  693,171 
 
Metal & Glass Containers 0.21%          522,500 
Owens-Brockway Glass Container, Inc.,           
Gtd Sr Note  8.250  05-15-13  B  500  522,500 

Page 5

John Hancock           
Income Securities Trust           
Securities owned by the Fund on           
March 31, 2006 (unaudited)           
 
Metal & Mining 0.20%          497,388 
Vedanta Resources Plc,           
Sr Note (United Kingdom) (S)  6.625  02-22-10  BB+  510  497,388 
 
Multi-Line Insurance 0.43%          1,104,179 
Assurant, Inc.,           
Sr Note  6.750  02-15-34  BBB+  510  528,945 
Massachusetts Mutual Life Insurance Co.,           
Surplus Note (S)  7.625  11-15-23  AA  485  575,234 
 
Multi-Media 0.47%          1,205,216 
News America Holdings,           
Gtd Sr Deb  7.750  01-20-24  BBB  1,020  1,102,466 
Quebecor Media, Inc.,           
Sr Note (Canada) (S)  7.750  03-15-16  B  100  102,750 
 
Multi-Utilities & Unregulated Power 1.18%          2,995,352 
CalEnergy Co., Inc.,           
Sr Bond  8.480  09-15-28  BBB-  550  679,753 
NRG Energy, Inc.,           
Sr Note  7.250  02-01-14  B-  450  457,312 
Salton Sea Funding Corp.,           
Sr Sec Note Ser C  7.840  05-30-10  BB+  1,807  1,858,287 
 
Office Services & Supplies 0.40%          1,018,040 
Steelcase, Inc.,           
Sr Note  6.375  11-15-06  BBB-  1,020  1,018,040 
 
Oil & Gas Refining, Marketing & Transportation 0.51%          1,285,567 
Enterprise Products Operating L.P.,           
Gtd Sr Note Ser B  5.600  10-15-14  BB+  1,000  969,693 
Premcor Refining Group, Inc.,           
Sr Note  9.500  02-01-13  BBB-  285  315,874 
 
Oil & Gas Drilling 0.14%          360,180 
Delek & Avner-Yam Tethys Ltd. ,           
Sr Sec Note (Israel) (S)  5.326  08-01-13  BBB-  373  360,180 
 
Paper Packaging 0.81%          2,070,963 
MDP Acquisitions Plc,           
Sr Note (Ireland)  9.625  10-01-12  B-  750  793,125 
Stone Container Corp.,           
Sr Note  9.750  02-01-11  CCC+  285  292,838 
Sr Note  8.375  07-01-12  CCC+  1,000  985,000 
 
Paper Products 0.14%          357,769 
Plum Creek Timber Co., Inc.,           
Gtd Note  5.875  11-15-15  BBB-  365  357,769 

Page 6

John Hancock             
Income Securities Trust           
Securities owned by the Fund on           
March 31, 2006 (unaudited)           
 
Pharmaceuticals 1.24%            3,151,876 
Medco Health Solutions, Inc.,             
Sr Note    7.250  08-15-13  BBB  1,550  1,668,904 
Wyeth,             
Note    5.500  03-15-13  A  1,500  1,482,972 
 
Property & Casualty Insurance  0.61%          1,544,348 
Markel Corp.,             
Sr Note    7.350  08-15-34  BBB-  535  551,698 
Ohio Casualty Corp.,             
Note    7.300  06-15-14  BB  750  781,754 
URC Holdings Corp.,             
Sr Note (S)    7.875  06-30-06  AA-  210  210,896 
 
Real Estate Investment Trusts  1.01%          2,564,374 
Health Care REIT, Inc.,             
Sr Note    6.200  06-01-16  BBB-  360  357,727 
Healthcare Realty Trust, Inc.,             
Sr Note    8.125  05-01-11  BBB-  175  191,037 
HRPT Properties Trust,             
Sr Note    5.750  11-01-15  BBB  780  761,876 
ProLogis,             
Note    5.500  03-01-13  BBB+  1,020  1,003,734 
Ventas Realty L.P./Capital Corp.,             
Sr Note    6.625  10-15-14  BB  250  250,000 
 
Real Estate Management & Development 0.53%          1,339,888 
K Hovnanian Enterprises, Inc.,             
Sr Note    7.500  05-15-16  BB  500  492,932 
Post Apartment Homes,             
Sr Note    5.125  10-12-11  BBB  870  846,956 
 
Regional Banks 1.74%            4,433,864 
Colonial Capital II,             
Gtd Cap Security Ser A    8.920  01-15-27  BB  1,085  1,153,950 
Crestar Capital Trust I,             
Gtd Cap Security    8.160  12-15-26  A-  910  959,583 
First Chicago NDB Institutional Capital,           
Gtd Cap Bond Ser A (S)    7.950  12-01-26  A1  500  525,003 
Greater Bay Bancorp,             
Sr Note Ser D    5.125  04-15-10  BBB-  565  552,190 
NB Capital Trust IV,             
Gtd Cap Security    8.250  04-15-27  A  1,170  1,243,138 
 
Soft Drinks 0.41%            1,040,000 
Panamerican Beverages, Inc.,             
Sr Note (Panama)    7.250  07-01-09  BBB  1,000  1,040,000 
 
Specialized Finance 0.98%            2,489,467 
Astoria Depositor Corp.,             
Pass Thru Ctf Ser B (G)(S)    8.144  05-01-21  BB  750  787,500 

Page 7

John Hancock           
Income Securities Trust           
Securities owned by the Fund on           
March 31, 2006 (unaudited)           
 
Bosphorous Financial Services,           
Sec Floating Rate Note (P)(S)  6.549  02-15-12  Baa3  500  503,706 
ESI Tractebel Acquisition Corp.,           
Gtd Sec Bond Ser B  7.990  12-30-11  BB  988  1,023,004 
Humpuss Funding Corp.,           
Gtd Note (S)  7.720  12-15-09  B2  177  175,257 
 
Steel 0.19%          490,000 
Metallurg Holdings, Inc.,           
Sr Sec Note (G)(S)  10.500  10-01-10  B-  500  490,000 
 
Telecommunications Equipment 0.77%          1,948,960 
Corning, Inc.,           
Med Term Note  8.300  04-04-25  Ba2  1,150  1,184,644 
Note  6.050  06-15-15  BBB-  775  764,316 
 
Thrifts & Mortgage Finance 24.82%          63,157,824 
American Home Mortgage Investment Trust,           
Mtg Pass Thru Ctf Ser 2005-4 Class 5A (P)  5.350  11-25-45  AAA  1,577  1,556,824 
Banc of America Commercial Mortgage, Inc.,           
Mtg Pass Thru Ctf Ser 2005-6 Class A4  5.182  09-10-47  AAA  940  916,948 
Banc of America Funding Corp.,           
Mtg Pass Thru Ctf Ser 2006-B Class 6A1  5.904  02-01-36  AAA  1,162  1,166,035 
Bear Stearns Adjustable Rate Mortgage Trust,           
Mtg Pass Thru Ctf Ser 2005-12 Class 22A1 (P)  5.759  02-25-36  AAA  1,099  1,098,870 
Bear Stearns Alt-A Trust,           
Mtg Pass Thru Ctf Ser 2005-3 Class B2 (P)  5.355  04-25-35  AA+  459  450,799 
Mtg Pass Thru Ctf Ser 2006-1 Class 23A1 (P)  5.684  02-25-36  AAA  1,118  1,113,142 
Bear Stearns Commercial Mortgage Securities, Inc.,           
Mtg Pass Thru Ctf Ser 2005-T20 Class A4A (P)  5.156  10-12-42  AAA  455  443,557 
Chaseflex Trust,           
Mtg Pass Thru Ctf Ser 2005-2 Class 4A1  5.000  05-25-20  AAA  1,186  1,148,312 
Citigroup Mortgage Loan Trust, Inc.,           
Mtg Pass Thru Ctf Ser 2005-10 Class 1A5A  5.911  12-25-35  AAA  1,092  1,092,436 
Mtg Pass Thru Ctf Ser 2005-5 Class 2A3  5.000  08-25-35  AAA  731  718,036 
Citigroup Mortgage Securities, Inc.,           
Mtg Pass Thru Ctf Ser 2005-5 Class 2A3  5.000  08-25-20  Aaa  1,411  1,373,858 
Citigroup/Deutsche Bank Commercial Mortgage           
Securities,           
Mtg Pass Thru Ctf Ser 2005-CD1 Class A4  5.225  07-15-44  AAA  620  607,754 
Mtg Pass Thru Ctf Ser 2005-CD1 Class C  5.225  07-15-44  AA  295  286,271 
ContiMortgage Home Equity Loan Trust,           
Pass Thru Ctf Ser 1995-2 Class A-5  8.100  08-15-25  AAA  139  143,328 
Countrywide Alternative Loan Trust,           
Mtg Pass Thru Ctf Ser 2004-24CB Class 1A1  6.000  11-25-34  AAA  877  871,536 
Mtg Pass Thru Ctf Ser 2005-6 Class 2A1  5.500  04-25-35  Aaa  659  639,614 
Mtg Pass Thru Ctf Ser 2005-J1 Class 3A1  6.500  08-25-32  AAA  539  545,700 
Countrywide Home Loans Servicing L.P.,           
Mtg Pass Thru Ctf Ser 2005-21 Class A1  5.500  10-25-35  Aaa  4,306  4,204,910 
CS First Boston Mortgage Securities Corp.,           
Mtg Pass Thru Ctf Ser 2003-25 Class 2A1  4.500  10-25-18  AAA  525  496,203 
Mtg Pass Thru Ctf Ser 2005-5 Class 1A1  5.000  07-25-20  AAA  675  652,267 

Page 8

John Hancock           
Income Securities Trust           
Securities owned by the Fund on           
March 31, 2006 (unaudited)           
 
First Horizon Alternative Mortgage Securities,           
Mtg Pass Thru Ctf Ser 2004-AA5 Class B1 (P)  5.241  12-25-34  AA  319  313,727 
Global Signal Trust,           
Sub Bond Ser 2004-2A Class D (S)  5.093  12-15-14  Baa2  405  394,716 
Sub Bond Ser 2006-1 Class E (S)  6.495  02-15-36  Baa3  425  423,745 
GMAC Commercial Mortgage Securities, Inc.,           
Mtg Pass Thru Ctf Ser 2002-C1 Class A1  5.785  11-15-39  AAA  1,904  1,917,119 
GMAC Mortgage Corporation Loan Trust,           
Mtg Pass Thru Ctf Ser 2006-AR1 Class 2A1  5.667  02-01-36  AAA  1,141  1,134,124 
Greenwich Capital Commercial Funding Corp.,           
Mtg Pass Thru Ctf Ser 2005-GG5 Class A2  5.117  04-10-37  AAA  1,260  1,246,367 
GSR Mortgage Loan Trust,           
Mtg Pass Thru Ctf Ser 2004-9 Class B1 (G)(P)  4.521  08-25-34  AA  593  581,611 
Mtg Pass Thru Ctf Ser 2005-5F Class 6A1  5.000  05-25-20  AAA  708  684,774 
Mtg Pass Thru Ctf Ser 2005-8F Class 6A1  4.500  10-25-20  AAA  756  727,234 
Mtg Pass Thru Ctf Ser 2006-AR1 Class 3A1  5.436  01-01-36  AAA  1,808  1,785,625 
Indymac Index Mortgage Loan Trust,           
Mtg Pass Thru Ctf Ser 2004-AR13 Class B1  5.296  01-25-35  AA  483  476,716 
Mtg Pass Thru Ctf Ser 2005-AR5 Class B1 (P)  5.425  05-25-35  AA  522  513,472 
Mtg Pass Thru Ctf Ser 2006-AR3 Class 3A1A  6.207  04-25-36  AAA  1,149  1,156,195 
JP Morgan Alternative Loan Trust,           
Mtg Pass Thru Ctf Ser 2005-S1 Class 1A4  6.000  12-25-35  AAA  5,067  5,038,062 
Mtg Pass Thru Ctf Ser 2006-A1 Class 4A1  6.092  03-25-36  AAA  1,400  1,402,618 
JP Morgan Chase Commercial Mortgage Security           
Corp.,           
Mtg Pass Thru Ctf Ser 2005-LDP4 Class B  5.129  10-15-42  Aa2  2,035  1,942,265 
JP Morgan Mortgage Trust,           
Mtg Pass Thru Ctf Ser 2005-S3 Class 2A2  5.500  01-25-21  AAA  1,118  1,102,112 
Lehman Mortgage Trust,           
Mtg Pass Thru Ctf Ser 2005-1 Class 6A1  5.000  11-25-20  AAA  5,824  5,668,244 
Merrill Lynch Mortgage Trust,           
Mtg Pass Thru Ctf Ser 2005-CKI1 Class A6  5.245  11-12-37  AAA  855  839,329 
Morgan Stanley Capital I,           
Mtg Pass Thru Ctf Ser 2005-HQ7 Class A4  5.205  11-14-42  AAA  840  821,721 
Mtg Pass Thru Ctf Ser 2005-IQ10 Class A4A  5.230  09-15-42  AAA  1,225  1,193,160 
Morgan Stanley Mortgage Loan Trust,           
Mtg Pass Thru Ctf Ser 2006-3AR Class 3A1  6.120  03-25-36  AAA  1,539  1,549,165 
Prime Mortgage Trust,           
Mtg Pass Thru Ctf Ser 2005-2 Class 1A2  5.000  07-25-20  Aaa  1,632  1,598,457 
Provident Funding Mortgage Loan Trust,           
Mtg Pass Thru Ctf Ser 2005-1 Class B1 (P)  4.368  05-25-35  AAA  422  404,841 
Residential Accredit Loans, Inc.,           
Mtg Pass Thru Ctf Ser 2005-QA12           
Class NB5 (P)  6.016  12-25-35  AAA  4,672  4,711,932 
Mtg Pass Thru Ctf Ser 2006-QA1 Class A31  6.305  01-25-36  AAA  1,513  1,526,555 
SBA CMBS Trust,           
Sub Bond Ser 2005-1A Class D (S)  6.219  11-15-35  Baa2  200  199,754 
Sub Bond Ser 2005-1A Class E (S)  6.706  11-15-35  Baa3  200  200,540 
Sovereign Capital Trust I,           
Gtd Cap Security  9.000  04-01-27  BB  1,000  1,067,578 
Washington Mutual Alternative Loan Trust,           
Mtg Pass Thru Ctf Ser 2005-6 Class 1CB  6.500  08-25-35  AAA  819  829,453 
Washington Mutual, Inc.,           
Mtg Pass Thru Ctf Ser 2005-AR4 Class B1 (P)  4.678  04-25-35  AA  1,513  1,477,025 

Page 9

John Hancock             
Income Securities Trust           
Securities owned by the Fund on           
March 31, 2006 (unaudited)           
 
Wells Fargo Mortgage Backed Securites Trust,           
Mtg Pass Thru Ctf Ser 2004-7 Class 2A2  5.000  07-25-19  AAA  724  703,188 
Utilities Other 0.20%            517,551 
Magellan Midstream Partners, L.P.,           
Note    6.450  06-01-14  BBB  500  517,551 
Wireless Telecommunication Service 1.88%          4,778,196 
America Movil S.A. de C.V.,           
Sr Note (Mexico)    5.750  01-15-15  BBB  1,275  1,235,464 
Crown Castle Towers LLC,           
Sub Bond Ser 2005-1A Class D  5.612  06-15-35  Baa2  685  666,377 
Mobile Telesystems Finance S.A.,           
Gtd Sr Note (Luxembourg) (S)  9.750  01-30-08  BB-  400  420,500 
New Cingular Wireless Services, Inc.,           
Sr Note    8.750  03-01-31  A  1,525  1,931,486 
Nextel Communications, Inc.,           
Sr Note Ser D    7.375  08-01-15  A-  500  524,369 
    
             Credit     
Issuer, description        rating (A)  Shares  Value 
 
Preferred stocks  3.60%          $9,152,800 
(Cost $9,477,854)             
 
Agricultural Products  0.39%          987,500 
Ocean Spray Cranberries, Inc., 6.25%, Ser A (S)      BB+  12,500  987,500 
Broadcasting & Cable TV 0.40%          1,004,000 
CBS Corp., 7.250%        BBB  40,000  1,004,000 
Diversified Banks 1.09%          2,785,750 
Bank One Capital Trust VI, 7.20%      A-  55,000  1,403,600 
Fleet Capital Trust VII, 7.20%      A  55,000  1,382,150 
Integrated Telecommunication Services 0.39%          1,000,000 
Telephone & Data Systems, Inc., 7.60%, Ser A      A-  40,000  1,000,000 
Multi-Utilities & Unregulated Power 0.40%          1,018,400 
Dominion CNG Capital Trust I, 7.80%      BB+  40,000  1,018,400 
Real Estate Investment Trusts 0.93%          2,357,150 
Apartment Investment & Management Co., 8.00%, Ser T      B+  55,000  1,388,750 
Public Storage, Inc., 6.50%, Depositary Shares,           
Ser W        BBB+  40,000  968,400 

Page 10

John Hancock           
Income Securities Trust           
Securities owned by the Fund on           
March 31, 2006 (unaudited)           
 
  Interest  Maturity  Credit  Par value   
Issuer, description  rate (%)  date  rating (A)  ($000)  Value 
 
U.S. government and agencies securities  31.08%        $79,092,210 
(Cost $80,670,071)           
 
Government U.S. 4.79%          12,196,782 
United States Treasury,           
Bond (L)  6.875  08-15-25  AAA  6,265  7,647,704 
Bond (L)  5.375  02-15-31  AAA  1,955  2,057,942 
Bond (L)  4.500  02-15-36  AAA  2,655  2,491,136 
 
Government U.S. Agency 26.29%          66,895,428 
Federal Home Loan Mortgage Corp.,           
20 Yr Pass Thru Ctf  11.250  01-01-16  AAA  22  24,226 
30 Yr Pass Thru Ctf  6.000  08-01-34  AAA  2,293  2,294,786 
30 Yr Pass Thru Ctf  5.500  04-01-33  AAA  1,887  1,846,604 
30 Yr Pass Thru Ctf  5.165  11-01-35  AAA  2,283  2,246,666 
CMO REMIC 2978  5.500  01-15-31  AAA  2,695  2,649,771 
Note  4.900  11-03-08  AAA  5,280  5,232,728 
Federal National Mortgage Assn.,           
15 Yr Pass Thru Ctf  7.000  09-01-10  AAA  28  29,490 
15 Yr Pass Thru Ctf  7.000  09-01-12  AAA  4  5,079 
15 Yr Pass Thru Ctf  7.000  04-01-17  AAA  50  52,115 
30 Yr Pass Thru Ctf  6.000  05-01-35  AAA  4,566  4,566,749 
30 Yr Pass Thru Ctf  6.000  08-01-35  AAA  3,837  3,839,209 
30 Yr Pass Thru Ctf  6.000  10-01-35  AAA  15,454  15,458,975 
30 Yr Pass Thru Ctf  6.000  02-01-36  AAA  3,950  3,950,407 
30 Yr Pass Thru Ctf  5.500  05-01-34  AAA  1,035  1,011,240 
30 Yr Pass Thru Ctf  5.500  11-01-34  AAA  2,267  2,216,485 
30 Yr Pass Thru Ctf  5.500  04-01-35  AAA  2,292  2,241,146 
30 Yr Pass Thru Ctf  5.500  05-01-35  AAA  2,503  2,448,506 
30 Yr Pass Thru Ctf  5.500  11-01-35  AAA  2,292  2,238,322 
30 Yr Pass Thru Ctf  5.500  02-01-36  AAA  5,100  4,980,130 
30 Yr Pass Thru Ctf  5.314  11-01-35  AAA  3,903  3,836,801 
Note  6.000  05-30-25  AAA  1,720  1,657,781 
Note  5.000  11-14-08  AAA  1,535  1,527,135 
Note (L)  5.000  04-19-10  AAA  2,530  2,516,910 
Government National Mortgage Assn.,           
30 Yr Pass Thru Ctf  10.000  11-15-20  AAA  4  5,006 
30 Yr Pass Thru Ctf  9.500  01-15-21  AAA  4  4,886 
30 Yr Pass Thru Ctf  9.500  02-15-25  AAA  12  14,275 
    
    Interest    Par value   
Issuer, description, maturity date    rate (%)    ($000)  Value 
 
Short-term investments 1.56%          $3,973,000 
(Cost $3,971,997)           
 
Government U.S. Agency 1.53%          3,900,000 
Federal Home Loan Bank           
Disc Note 04-03-06    Zero    3,900  3,900,000 

Page 11

John Hancock       
Income Securities Trust       
Securities owned by the Fund on       
March 31, 2006 (unaudited)       
  
Joint Repurchase Agreement 0.03%      73,000 
Investment in a joint repurchase agreement       
transaction with Morgan Stanley - Dated 03-31-06       
due 04-03-06 (Secured by U.S. Treasury Inflation       
Indexed Note 3.875% due 01-15-09)  4.470  73  73,000 
 
Total investments 100.00%      $254,481,490 

Page 12

John Hancock         
Income Securities Trust       
Financial futures contracts       
March 31, 2006 (unaudited)         
 
  Number of      Appreciation 
Open contracts  contracts  Position  Expiration  (depreciation) 
U.S. 10-Year Treasury Note  467  Short  June 06  $591,423 

Financial futures contracts

John Hancock
Income Securities Trust
Footnotes to Schedule of Investments
March 31, 2006 (unaudited)

(A) Credit ratings are unaudited and are rated by Moody's Investors Service where Standard & Poor's
ratings are not available unless indicated otherwise.

(B) This security is fair valued in good faith under procedures established by the Board of Trustees.

(G) Security rated internally by John Hancock Advisers, LLC.

(H) Non-income-producing issuer filed for protection under the Federal Bankruptcy Code or is in default
of interest payment.

(L) All or a portion of this security is on loan as of March 31, 2006.

(P) Represents rate in effect on March 31, 2006.

(S) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such
securities may be resold, normally to qualified institutional buyers, in transactions exempt from
registration. Rule 144A securities amounted to $22,991,953 or 9.03% of the Fund's total investments
as of March 31, 2006.

Parenthetical disclosure of a foreign country in the security description represents country
of a foreign issuer; however, security is U.S. dollar-denominated.

The percentage shown for each investment category is the total value of that category as a percentage
of the total investments of the Fund.

The cost of investments owned on March 31, 2006, including short-term investments, was $259,856,786.
Gross unrealized appreciation and depreciation of investments aggregated $1,407,391 and $6,782,687,
respectively, resulting in net unrealized depreciation of $5,375,296.

Footnotes to Schedule of Investments - Page 1


ITEM 2. CONTROLS AND PROCEDURES.

(a) Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-Q, the registrant's principal executive officer and principal accounting officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.

(b) There were no changes in the registrant's internal control over financial reporting that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

ITEM 3. EXHIBITS.

Separate certifications for the registrant's principal executive officer and principal accounting officer, as required by Rule 30a-2(a) under the Investment Company Act of 1940, are attached.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

John Hancock Income Securities Trust

By: /s/ Keith F. Hartstein
-------------------------------------
Keith F. Hartstein
President and Chief Executive Officer

Date: May 25, 2006

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: /s/ Keith F. Hartstein
-------------------------------------
Keith F. Hartstein
President and Chief Executive Officer

Date: May 25, 2006

By: /s/ John G. Vrysen
-------------------------------------
John G. Vrysen
Executive Vice President and Chief Financial Officer

Date: May 25, 2006