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)
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: September 30
Date of reporting period: December 31, 2004
ITEM 1. SCHEDULE OF INVESTMENTS
JOHN HANCOCK
Patriot Premium Dividend Fund I
12.31.2004
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
Patriot Premium Dividend Fund I
Securities owned by the Fund on
December 31, 2004 (unaudited)
Issuer Shares Value
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Common stocks 33.05% $71,862,695
(Cost $68,476,860)
Electric Utilities 22.08% 48,017,456
Alliant Energy Corp. 150,380 4,300,868
Ameren Corp. 45,900 2,301,426
CH Energy Group, Inc. 141,350 6,791,868
Consolidated Edison, Inc. 32,000 1,400,000
DTE Energy Co. 126,000 5,434,380
Great Plains Energy, Inc. 10,000 302,800
NSTAR 175,000 9,499,000
Progress Energy, Inc. 52,500 2,375,100
Progress Energy, Inc., (Contingent Value Obligation) (B)(I) 69,000 8,280
Puget Energy, Inc. 216,900 5,357,430
Sierra Pacific Resources (I) 246,600 2,589,300
TECO Energy, Inc. 173,000 2,653,820
WPS Resources Corp. 40,400 2,018,384
Xcel Energy, Inc. 164,000 2,984,800
Gas Utilities 4.04% 8,790,755
KeySpan Corp. 136,450 5,382,952
NiSource, Inc. 67,600 1,539,928
Peoples Energy Corp. 42,500 1,867,875
Integrated Telecommunication Services 0.00% 91
Touch America Holdings, Inc. (I) 151,000 91
Multi-Utilities & Unregulated Power 6.93% 15,054,393
Aquila, Inc. (I) 180,000 664,200
Dominion Resources, Inc. 64,300 4,355,682
Duke Energy Corp. 40,000 1,013,200
Energy East Corp. 257,000 6,856,760
National Fuel Gas Co. 47,150 1,336,231
Public Service Enterprise Group, Inc. 16,000 828,320
Credit
Issuer, description rating (A) Shares Value
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Preferred stocks 63.38% $137,819,185
(Cost $136,078,313)
Agricultural Products 1.31% 2,848,125
Ocean Spray Cranberries, Inc., 6.25%, Ser A (S) BB+ 35,000 2,848,125
Broadcasting & Cable TV 4.22% 9,180,875
Shaw Communications, Inc., 8.45%, Ser A (Canada) B+ 177,500 4,481,875
Shaw Communications, Inc., 8.50% (Canada) B+ 185,000 4,699,000
Consumer Finance 0.32% 690,000
SLM Corp., 6.97%, Ser A BBB+ 12,000 690,000
Diversified Banks 1.13% 2,455,902
Royal Bank of Scotland Group Plc, 5.75%, Ser L (United Kingdom) A 100,200 2,455,902
Electric Utilities 18.48% 40,197,384
Alabama Power Co., 5.20% BBB+ 225,000 5,456,250
Boston Edison Co., 4.25% BBB+ 57,879 4,659,259
Boston Edison Co., 4.78% BBB+ 24,668 2,232,454
Duquesne Light Co., 6.50% BB+ 20,000 1,050,000
FPC Capital I, 7.10%, Ser A BB+ 54,500 1,379,940
Georgia Power Co., 6.00%, Ser R A 213,800 5,409,140
Great Plains Energy, Inc., 4.35% BB+ 23,638 1,843,764
Great Plains Energy, Inc., 4.50% BB+ 12,510 1,003,927
HECO Capital Trust III, 6.50% BBB- 45,000 1,179,000
Monongahela Power Co., $7.73, Ser L B- 34,500 3,415,500
PPL Electric Utilities Corp., 4.60% BBB 3,670 291,192
PSI Energy, Inc., 6.875% BBB- 37,000 3,875,750
Public Service Electric & Gas Co., 4.30%, Ser C BB+ 6,560 503,480
Sierra Pacific Power Co., 7.80%, Ser 1 (Class A) CCC+ 210,000 5,334,000
Virginia Electric & Power Co., $7.05 BBB 10,200 1,062,075
Xcel Energy, Inc., $4.11, Ser D BB+ 19,850 1,501,653
Gas Utilities 5.10% 11,086,555
El Paso Tennessee Pipeline Co., 8.25%, Ser A CCC- 156,400 7,961,745
Southern Union Co., 7.55% BB+ 111,800 3,124,810
Integrated Oil & Gas 2.48% 5,383,600
Coastal Finance I, 8.375% CCC- 215,000 5,383,600
Integrated Telecommunication Services 0.02% 50,850
Touch America Holdings, Inc., $6.875 (I) N/R 50,850 50,850
Investment Banking & Brokerage 8.10% 17,623,162
Bear Stearns Cos., Inc. (The), 5.72%, Depositary Shares, Ser F BBB 102,460 5,310,502
Lehman Brothers Holdings, Inc., 5.94%, Depositary Shares, Ser C BBB+ 90,400 4,623,960
Lehman Brothers Holdings, Inc., 5.67%, Depositary Shares, Ser D BBB+ 102,700 5,237,700
Morgan Stanley Capital Trust V, 5.75% A1 100,000 2,451,000
Multi-Utilities & Unregulated Power 11.45% 24,892,025
Baltimore Gas & Electric Co., 6.99%, Ser 1995 Baa1 34,000 3,557,250
BGE Capital Trust II, 6.20% BBB- 190,000 4,862,100
Energy East Capital Trust I, 8.25% BBB- 200,000 5,366,000
PSEG Funding Trust II, 8.75% BB+ 70,000 1,946,000
Public Service Electric & Gas Co., 6.92% BB+ 26,800 2,782,175
South Carolina Electric & Gas Co., 6.52% Baa1 55,000 5,720,000
TECO Capital Trust I, 8.50% B 25,000 658,500
Oil & Gas Exploration & Production 7.93% 17,246,607
Anadarko Petroleum Corp., 5.46%, Depositary Shares, Ser B BBB- 45,278 4,507,991
Apache Corp., 5.68%, Depositary Shares, Ser B BBB 25,000 2,619,532
Devon Energy Corp., 6.49%, Ser A BB+ 50,000 5,182,815
Nexen, Inc., 7.35% (Canada) BB+ 183,300 4,936,269
Other Diversified Financial Services 1.75% 3,801,600
J.P. Morgan Chase & Co., 6.625%, Depositary Shares, Ser H A- 72,000 3,801,600
Regional Banks 1.09% 2,362,500
HSBC USA, Inc., $2.8575 A2 45,000 2,362,500
Interest Par value
Issuer, description, maturity date rate (%) ($000) Value
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Short-term investments 3.57% $7,768,180
(Cost $7,768,180)
Commercial Paper 3.57% 7,768,180
ChevronTexaco Corp., 01-03-05 1.900 7,769 7,768,180
Total investments 100.00% $217,450,060
John Hancock
Patriot Premium Dividend Fund I
Footnotes to Schedule of Investments
December 31, 2004 (unaudited)
(A) Credit ratings are unaudited and are rated by Moody's Investors
Service where Standard & Poor's ratings are not available.
(B) This security is fair valued in good faith under procedures
established by the Board of Trustees.
(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 $2,848,125 or 1.31% of
the Fund's total investments as of December 31, 2004.
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 December 31, 2004, including
short-term investments, was $212,323,353. Gross unrealized
appreciation and depreciation of investments aggregated $21,239,688
and $16,112,980, respectively, resulting in net unrealized
appreciation of $5,126,708.
For more information
Trustees
Charles L. Ladner, Chairman*
James F. Carlin
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
Transfer Agent for DARTS
Deutsche Bank Trust Company Americas
280 Park Avenue
New York, New York 10017
Legal Counsel
Wilmer Cutler Pickering Hale and Dorr LLP
60 State Street
Boston, Massachusetts 02109-1803
Stock Symbol
Listed New York Stock Exchange: PDF
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 Patriot Premium Dividend Fund I.
P10Q1 12/04
2/05
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.
(c) 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:
------------------------------
James A. Shepherdson
President and Chief Executive Officer
Date: February 17, 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: February 17, 2005
By:
------------------------------
William H. King
Vice President and Treasurer
Date: February 17, 2005