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 811-8568
John Hancock Bank & Thrift Opportunity Fund
(Exact name of registrant as specified in charter)
101 Huntington Avenue, Boston, Massachusetts 02199
(Address of principal executive offices) (Zip code)
Susan S. Newton, Secretary
101 Huntington Avenue
Boston, Massachusetts 02199
(Name and address of agent for service)
Registrant's telephone number, including area code: 617-375-1702
Date of fiscal year end: October 31
Date of reporting period: January 31, 2005
ITEM 1. SCHEDULE OF INVESTMENTS
JOHN HANCOCK
Bank and Thrift Opportunity Fund
1.31.2005
Quarterly Portfolio Holdings
[A 2" x 1" John Hancock (Signature)/John Hancock Funds logo in lower,
center middle of page. A tag line below reads "JOHN HANCOCK FUNDS."]
John Hancock
Bank and Thrift Opportunity Fund
Securities owned by the Fund on
January 31, 2005 (unaudited)
Interest Maturity Credit Par value
Issuer, description rate (%) date rating ($000) Value
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Bonds 0.08% $932,470
(Cost $770,000)
Regional Banks 0.08% 932,470
CSBI Capital Trust I
Sub Cap Income Ser A (B)(G) 11.750 06-06-2027 B- 770 932,470
Issuer Shares Value
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Common stocks 83.58% $924,719,835
(Cost $391,473,417)
Asset Management & Custody Banks 5.19% 57,393,390
Affiliated Managers Group, Inc. (MA) (I)(L) 245,750 15,583,008
Bank of New York Co., Inc. (The) (NY) 313,000 9,299,230
Federated Investors, Inc. (Class B) (PA) 30,000 881,400
Legg Mason, Inc. (MD) 198,750 15,349,462
Mellon Financial Corp. (PA) 330,000 9,685,500
Northern Trust Corp. (IL) (L) 70,000 3,054,800
State Street Corp. (MA) 79,000 3,539,990
Consumer Finance 0.24% 2,658,000
MBNA Corp. (DE) 100,000 2,658,000
Diversified Banks 12.76% 141,201,180
Bank of America Corp. (NC) 634,670 29,429,648
Comerica, Inc. (MI) 447,400 25,886,564
U.S. Bancorp. (MN) 941,041 28,278,282
Wachovia Corp. (NC) 536,321 29,417,207
Wells Fargo & Co. (CA) 459,861 28,189,479
Life & Health Insurance 0.67% 7,368,600
MetLife, Inc. (NY) 104,000 4,134,000
Prudential Financial, Inc. (NJ) 60,000 3,234,600
Other Diversified Financial Services 3.85% 42,548,902
Citigroup, Inc. (NY) 505,925 24,815,621
JPMorgan Chase & Co. (MA) 475,041 17,733,281
Regional Banks 54.96% 608,161,438
ABC Bancorp. (GA) 65,400 1,330,236
Alabama National Bancorp. (AL) 142,500 8,870,625
AmericanWest Bancorp. (WA) (I) 357,921 6,804,078
AmSouth Bancorp. (AL) (L) 95,879 2,391,222
Banknorth Group, Inc. (ME) 682,688 24,481,192
BB&T Corp. (NC) 344,846 13,611,072
Beverly National Corp. (MA) 47,500 1,287,250
BOK Financial Corp. (OK) (I) 117,208 4,935,629
Camden National Corp. (ME) 140,000 5,215,000
Capital City Bank Group, Inc. (FL) 59,635 2,327,554
Cardinal Financial Corp. (VA) (I) 86,200 906,824
Cascade Bancorp. (OR) 194,272 3,784,419
Chittenden Corp. (VT) 175,245 4,750,892
City Holding Co. (WV) 41,600 1,369,680
City National Corp. (CA) 224,427 15,662,760
CoBiz, Inc. (CO) 8,650 176,287
Colonial BancGroup, Inc. (The) (AL) 585,200 11,809,336
Columbia Bancorp. (MD) 90,000 3,069,000
Columbia Bancorp. (OR) 13,250 238,500
Columbia Banking System, Inc. (WA) 29,645 698,140
Commercial Bankshares, Inc. (FL) 63,702 2,432,142
Community Bancorp. (NV) (I) 10,790 302,336
Community Banks, Inc. (PA) 105,055 2,874,305
Compass Bancshares, Inc. (AL) 580,857 27,201,533
Cullen/Frost Bankers, Inc. (TX) 20,000 939,200
Dearborn Bancorp., Inc. (MI) (I) 39,343 1,150,783
Desert Community Bank (CA) 137,500 3,713,875
DNB Financial Corp. (PA) 69,121 2,004,509
East West Bancorp., Inc. (CA) (L) 540,000 21,027,600
EuroBancshares, Inc. (Puerto Rico) (I) 87,830 1,636,273
F.N.B. Corp. (PA) 90,049 1,781,169
Fifth Third Bancorp. (OH) (L) 514,540 23,910,674
Financial Institutions, Inc. (NY) 73,000 1,692,870
First Charter Corp. (NC) 52,200 1,197,990
First Horizon National Corp. (TN) (L) 156,650 6,668,591
First Midwest Bancorp., Inc. (IL) 19,000 655,500
First National Lincoln Corp. (ME) 146,499 2,527,108
First Regional Bancorp. (CA) 100,000 6,225,000
First Regional Bancorp. (CA) (I) 50,000 3,112,500
First State Bancorp. (NM) 65,000 2,457,650
FirstMerit Corp. (OH) 2,950 78,175
Fulton Financial Corp. (PA) (L) 106,803 2,331,509
Glacier Bancorp., Inc. (MT) 294,231 9,377,142
Harleysville National Corp. (PA) 137,776 3,491,244
Hibernia Corp. (Class A) (LA) 230,000 6,053,600
Independent Bank Corp. (MI) 308,105 9,480,391
International Bancshares Corp. (TX) 160,270 6,136,738
KeyCorp (OH) (L) 320,000 10,694,400
M&T Bank Corp. (NY) (L) 238,657 24,428,931
Marshall & Ilsley Corp. (WI) (L) 568,795 24,350,114
MB Financial, Inc. (IL) 105,000 4,167,450
Mercantile Bankshares Corp. (MD) (L) 209,500 10,606,985
Merrill Merchants Bankshares, Inc. (ME) 73,687 1,657,957
Mid-State Bancshares (CA) 50,000 1,410,500
National City Corp. (DE) (L) 550,688 19,576,958
North Fork Bancorp., Inc. (NY) 964,542 27,682,355
Northrim Bancorp., Inc. (AK) 70,053 1,667,962
Oriental Financial Group, Inc. (Puerto Rico) 20,234 570,599
Pacific Capital Bancorp. (CA) 364,354 11,178,381
Placer Sierra Bancshares (CA) 14,550 375,084
PNC Financial Services Group, Inc. (PA) (L) 418,500 22,544,595
Prosperity Bancshares, Inc. (TX) 120,000 3,333,600
Provident Bankshares Corp. (MD) 165,058 5,458,468
Regions Financial Corp. (AL) (L) 127,390 4,076,480
Republic Bancorp., Inc. (MI) 3,300 47,091
S&T Bancorp., Inc. (PA) 154,700 5,702,242
Sandy Spring Bancorp., Inc. (MD) 9,500 350,027
Security Bank Corp. (GA) 35,000 1,435,000
Sky Financial Group, Inc. (OH) 234,850 6,237,616
SNB Bancshares, Inc. (TX) (I) 94,340 1,149,061
Southwest Bancorp. of Texas, Inc. (TX) 520,660 10,293,448
Southwest Bancorp., Inc. (OK) 9,000 198,090
Summit Bancshares, Inc. (TX) 279,000 5,061,060
SunTrust Banks, Inc. (GA) (L) 346,826 24,978,409
Synovus Financial Corp. (GA) (L) 450,000 12,208,500
Taylor Capital Group, Inc. (IL) 213,200 6,956,716
TCF Financial Corp. (MN) (L) 428,016 12,031,530
Texas United Bancshares, Inc. (TX) 47,100 878,415
TriCo Bancshares (CA) 53,000 1,167,590
UCBH Holdings, Inc. (CA) (L) 200,000 8,814,000
Umpqua Holdings Corp. (OR) 177,901 4,319,436
Univest Corp. (PA) 136,812 5,848,713
Valley National Bancorp. (NJ) (L) 149,892 3,867,214
Vineyard National Bancorp., Co. (CA) (B) 107,176 2,969,954
Vineyard National Bancorp., Co. (CA) (I) 150,000 4,618,500
Virginia Commerce Bancorp., Inc. (VA) (I) 13,337 368,368
West Coast Bancorp. (OR) 67,583 1,640,915
Whitney Holding Corp. (LA) 106,500 4,854,270
Wilmington Trust Corp. (DE) 350,000 12,169,500
Yardville National Bancorp. (NJ) 97,400 3,087,580
Zions Bancorp. (UT) (L) 426,825 28,947,271
Specialized Finance 0.37% 4,061,222
CIT Group, Inc. (NJ) 100,600 4,061,222
Thrifts & Mortgage Finance 5.54% 61,327,103
Astoria Financial Corp. (NY) 71,910 2,706,692
Commercial Capital Bancorp., Inc. (CA) (I) 450,000 8,950,500
Countrywide Financial Corp. (CA) (L) 406,000 15,022,000
Freddie Mac (VA) 140,000 9,140,600
Hingham Institute for Savings (MA) 80,000 3,400,000
LSB Corp. (MA) 65,000 1,212,250
New York Community Bancorp, Inc. (NY) 40,000 713,200
NewAlliance Bancshares, Inc. (CT) (I) 12,581 187,079
PennFed Financial Services, Inc. (NJ) (I) 313,600 4,998,784
Sovereign Bancorp, Inc. (PA) 30,000 682,200
Washington Mutual, Inc. (WA) 276,812 11,169,364
Webster Financial Corp. (CT) 70,110 3,144,434
Issuer Shares Value
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Rights 0.00% $37,512
(Cost $0)
Regional Banks 0.00% 37,512
Vineyard National Bancorp., Co. (CA) (B) 26,794 37,512
Interest Par value
Issuer, description, maturity date rate (%) ($000) Value
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Short-term investments 16.34% $180,814,652
(Cost $180,814,652)
Certificates of Deposit 0.01% 80,783
Deposits in mutual banks 80,783
Joint Repurchase Agreement 0.64% 7,076,000
Investment in a joint repurchase agreement
transaction with Barclays Capital, Inc. - Dated
01-31-05 due 02-01-05 (secured by U.S. Treasury
Inflation Indexed Notes 1.625% due 01-15-15 and
1.875% due 07-15-13) 2.450 7,076 7,076,000
Shares
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Cash Equivalents 15.69% 173,657,869
AIM Cash Investment Trust (T) 173,657,869 173,657,869
Total investments 100.00% $1,106,504,469
John Hancock
Bank and Thrift Opportunity Fund
Footnotes to Schedule of Investments
January 31, 2005 (unaudited)
(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.
(I) Non-income-producing security.
(L) All or a portion of this security is on loan as of January 31,
2005.
(T) Represents investment of securities lending collateral.
Parenthetical disclosure of a foreign country in the security
description represents country of a foreign issuer.
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 January 31, 2005, including
short-term investments, was $573,058,069. Gross unrealized
appreciation and depreciation of investments aggregated $534,148,161
and $701,761, respectively, resulting in net unrealized appreciation
of $533,446,400.
For more information
Trustees
Charles L. Ladner, Chairman*
James F. Carlin
Richard P. Chapman, Jr.*
William H. Cunningham
Ronald R. Dion
Dr. John A. Moore*
Patti McGill Peterson*
Steven R. Pruchansky
James A. Shepherdson
Lt. Gen. Norman H. Smith, USMC (Ret.)
*Members of the Audit Committee
Officers
James A. Shepherdson
President and Chief Executive Officer
Susan S. Newton
Senior Vice President and Secretary
William H. King
Vice President and Treasurer
Investment Adviser
John Hancock Advisers, LLC
101 Huntington Avenue
Boston, Massachusetts 02199-7603
Custodian
The Bank of New York
One Wall Street
New York, New York 10286
Transfer Agent and Dividend Disburser
Mellon Investor Services
85 Challenger Road
Overpeck Centre
Ridgefield Park, New Jersey 07660
Legal Counsel
Wilmer Cutler Pickering Hale and Dorr LLP
60 State Street
Boston, Massachusetts 02109-1803
Stock Symbol
Listed New York Stock Exchange: BTO
How to contact us
Internet www.jhfunds.com
Mail Regular mail:
Mellon Investor Services
85 Challenger Road
Overpeck Centre
Ridgefield Park, NJ 07660
Phone Customer service representatives 1-800-852-0218
Portfolio commentary 1-800-344-7054
24-hour automated information 1-800-843-0090
TDD line 1-800-231-5469
This report is for the information of the shareholders
of John Hancock Bank and Thrift Opportunity Fund.
P90Q1 1/05
3/05
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 Bank and Thrift Opportunity Fund
By:
------------------------------
James A. Shepherdson
President and Chief Executive Officer
Date: March 29, 2005
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:
------------------------------
James A. Shepherdson
President and Chief Executive Officer
Date: March 29, 2005
By:
------------------------------
William H. King
Vice President and Treasurer
Date: March 29, 2005