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 |
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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 | ||
|
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Ocean Spray Cranberries, Inc., 6.25%, Ser A (S) | BB+ | 35,000 | 2,926,875 | |
Consumer Finance 0.32% | 688,480 | |||
|
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SLM Corp., 6.97%, Ser A | BBB+ | 13,000 | 688,480 | |
Diversified Banks 0.99% | 2,121,610 | |||
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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 | |||
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JPMorgan Chase & Co., 6.625%, Depositary Shares, Ser H | A- | 72,000 | 3,657,600 | |
Electric Utilities 23.56% | 50,273,802 | |||
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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 | |||
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Southern Union Co., 7.55% | BB+ | 127,800 | 3,325,356 | |
Integrated Oil & Gas 2.52% | 5,381,450 | |||
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Coastal Finance I, 8.375% | CCC | 215,000 | 5,381,450 |
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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 |