2_seccoverpagenqPatPremDivFundI.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- 5615

John Hancock Patriot Premium Dividend Fund I
(Exact name of registrant as specified in charter)

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

Alfred E. Ouellette, Senior Attorney & 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:                                                          September 30
Date of reporting period:                                                       December 31, 2005

ITEM 1. SCHEDULE OF INVESTMENTS




John Hancock     
 
Patriot Premium Dividend Fund I     
Securities owned by the Fund on     
December 31, 2005 (unaudited)     
 
 
Issuer  Shares  Value 
Common stocks 34.13%    $72,818,637 
(Cost $64,752,173)     
 
Electric Utilities 2.23%    4,764,090 

Cinergy Corp.  30,000  1,273,800 
Great Plains Energy, Inc.  10,750  300,570 
Progress Energy, Inc.  72,500  3,184,200 
Progress Energy, Inc., (Contingent Value Obligation)     
(B)(I)  69,000  5,520 
 
Gas Utilities 1.99%    4,235,270 

Atmos Energy Corp.  12,250  320,460 
National Fuel Gas Co.  59,850  1,866,722 
Peoples Energy Corp.  58,400  2,048,088 
 
Integrated Telecommunication Services 1.59%    3,393,319 

AT&T, Inc.  97,850  2,396,347 
Verizon Communications, Inc.  33,100  996,972 
 
Multi-Utilities & Unregulated Power 28.32%    60,425,958 

Alliant Energy Corp.  144,380  4,048,415 
Ameren Corp.  45,900  2,351,916 
CH Energy Group, Inc.  151,050  6,933,195 
Consolidated Edison, Inc.  32,000  1,482,560 
Dominion Resources, Inc.  64,300  4,963,960 
DTE Energy Co.  126,000  5,441,940 
Duke Energy Corp.  40,000  1,098,000 
Energy East Corp.  257,000  5,859,600 
KeySpan Corp.  136,450  4,869,900 
NiSource, Inc.  67,600  1,410,136 
NSTAR  350,000  10,045,000 
Public Service Enterprise Group, Inc.  16,000  1,039,520 
Puget Energy, Inc.  53,000  1,082,260 
Sierra Pacific Resources (I)  120,050  1,565,452 
TECO Energy, Inc.  173,000  2,972,140 
WPS Resources Corp.  40,400  2,234,524 
Xcel Energy, Inc.  164,000  3,027,440 

Page 1


John Hancock         
 
Patriot Premium Dividend Fund I       
Securities owned by the Fund on       
December 31, 2005 (unaudited)       
 
    Credit     
Issuer, description    rating (A)  Shares  Value 
Preferred stocks  62.34%      $133,007,544 
(Cost $134,767,004)         
 
Agricultural Products  1.37%      2,926,875 

Ocean Spray Cranberries, Inc., 6.25%, Ser A (S)  BB+  35,000  2,926,875 
 
Consumer Finance 0.32%      688,480 

SLM Corp., 6.97%, Ser A  BBB+  13,000  688,480 
 
Diversified Banks 0.99%      2,121,610 

HSBC Holdings Plc, 6.20%, Ser A (United Kingdom)  A-  25,000  618,750 
Royal Bank of Scotland Group Plc, 5.75%, Ser L (United       
Kingdom)    A  65,200  1,502,860 
 
Diversified Financial Services 1.71%      3,657,600 

JPMorgan Chase & Co., 6.625%, Depositary Shares, Ser H  A-  72,000  3,657,600 
 
Electric Utilities 23.56%      50,273,802 

Alabama Power Co., 5.20%  BBB+  240,000  5,796,000 
Boston Edison Co., 4.25%  BBB+  58,152  4,762,649 
Boston Edison Co., 4.78%  BBB+  25,558  2,354,531 
Duquesne Light Co., 6.50%  BB+  105,900  5,390,310 
Entergy Mississippi, Inc., 6.25%  BB+  150,000  3,731,250 
FPC Capital I, 7.10%, Ser A  BB+  130,700  3,296,254 
Georgia Power Co., 6.00%, Ser R  A  213,800  5,347,138 
Great Plains Energy, Inc., 4.50%  BB+  12,510  995,170 
Great Plains Energy, Inc., 8.00%, Conv  BBB-  99,900  2,472,525 
HECO Capital Trust III, 6.50%  BBB-  70,000  1,792,000 
Interstate Power & Light Co., 7.10%, Ser C  BBB-  25,000  673,438 
Interstate Power & Light Co., 8.375%, Ser B  BBB-  25,000  825,000 
PPL Electric Utilities Corp., 4.60%  BBB  3,917  325,845 
Public Service Electric & Gas Co., 4.30%, Ser C  BB+  7,940  619,320 
Sierra Pacific Power Co., 7.80%, Ser 1 (Class A)  CCC+  210,000  5,302,500 
Southern California Edison Co., 6.125%  BBB-  35,000  3,533,908 
Virginia Electric & Power Co., $7.05  BBB-  10,200  1,063,032 
Xcel Energy, Inc., $4.11, Ser D  BB+  24,921  1,992,932 
 
Gas Utilities 1.56%        3,325,356 

Southern Union Co., 7.55%  BB+  127,800  3,325,356 
 
Integrated Oil & Gas 2.52%      5,381,450 

Coastal Finance I, 8.375%  CCC  215,000  5,381,450 

Page 2


John Hancock         
Patriot Premium Dividend Fund I       
Securities owned by the Fund on       
December 31, 2005 (unaudited)       
 
Integrated Telecommunication Services 1.16%      2,467,465 

Telephone & Data Systems, Inc., 6.625%  A-  101,000  2,462,380 
Touch America Holdings, Inc., $6.875 (B)(G)(H)  D  50,850  5,085 
 
Investment Banking & Brokerage  7.31%      15,596,278 

Bear Stearns Cos., Inc. (The), 5.49%, Depositary       
Shares, Ser G    BBB  25,200  1,212,120 
Bear Stearns Cos., Inc. (The), 5.72%, Depositary       
Shares, Ser F    BBB  102,460  4,898,613 
Lehman Brothers Holdings, Inc., 5.67%, Depositary       
Shares, Ser D    A-  102,700  4,965,545 
Lehman Brothers Holdings, Inc., 5.94%, Depositary       
Shares, Ser C    A-  90,400  4,520,000 
 
Life & Health Insurance 1.34%        2,851,200 

MetLife, Inc., 6.50%, Ser B    BBB  110,000  2,851,200 
 
Multi-Utilities & Unregulated Power 11.27%      24,040,577 

Baltimore Gas & Electric Co., 6.99%, Ser 1995  Baa1  34,000  3,526,439 
BGE Capital Trust II, 6.20%    BBB-  190,000  4,864,000 
Energy East Capital Trust I, 8.25%    BBB-  200,000  5,132,000 
PSEG Funding Trust II, 8.75%    BB+  71,400  1,876,392 
Public Service Electric & Gas Co., 6.92%  BB+  26,800  2,780,500 
South Carolina Electric & Gas Co., 6.52%  Baa1  55,000  5,542,971 
TECO Capital Trust I, 8.50%    B  12,501  318,275 
 
Oil & Gas Exploration & Production  8.14%      17,359,151 

Anadarko Petroleum Corp., 5.46%, Depositary Shares,       
Ser B    BBB-  45,278  4,404,703 
Apache Corp., 5.68%, Depositary Shares, Ser B  BBB  25,000  2,539,063 
Devon Energy Corp., 6.49%, Ser A    BB+  50,000  5,109,375 
Nexen, Inc., 7.35% (Canada)    BB+  205,500  5,306,010 
 
Regional Banks 1.09%        2,317,700 

HSBC USA, Inc., $2.8575 (G)    A1  47,300  2,317,700 
                                                                                                                              Interest                        Par value                                   
Issuer, description, maturity date  rate (%)    ($000)  Value 
Short-term investments  3.53%      $7,519,295 
(Cost $7,519,295)         
 
Commercial Paper 3.53%        7,519,295 

ChevronTexaco Corp., Due 1-3-06  4.080    7,519  7,519,295 
 
Total investments 100.00%      $213,345,476 

Page 3


John Hancock
Patriot Premium Dividend Fund I
Footnotes to Schedule of Investments
December 31, 2005 (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.

(I) Non-income-producing security.

(S) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such security may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $2,926,875 or 1.37% of the Fund's total investments as of December 31, 2005.

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 December 31, 2005, including short-term investments, was $207,038,472. Gross unrealized appreciation and depreciation of investments aggregated $15,910,734 and $9,603,730, respectively, resulting in net unrealized appreciation of $6,307,004.

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 Patriot Premium Dividend Fund I

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

Date: February 27, 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: February 27, 2006

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

Date: February 27, 2006