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 811-05908
John Hancock Patriot Premium Dividend Fund II
(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
Patriot Premium Dividend Fund II
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
Patriot Premium Dividend Fund II
Securities owned by the Fund on
January 31, 2005 (unaudited)
Issuer Shares Value
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Common stocks 34.81% $99,254,365
(Cost $93,629,392)
Electric Utilities 20.21% 57,619,742
Alliant Energy Corp. 199,900 5,497,250
Ameren Corp. 80,000 4,009,600
CH Energy Group, Inc. 186,200 8,807,260
Cinergy Corp. 40,000 1,611,600
Consolidated Edison, Inc. 78,000 3,421,860
DTE Energy Co. 193,500 8,477,235
Great Plains Energy, Inc. 10,000 303,100
NSTAR 138,000 7,766,640
OGE Energy Corp. 137,632 3,599,077
Progress Energy, Inc. 79,000 3,495,750
Progress Energy, Inc., (Contingent Value Obligation) (B)(I) 176,250 21,150
Sierra Pacific Resources (I) 369,000 3,630,960
WPS Resources Corp. 55,400 2,830,940
Xcel Energy, Inc. 228,000 4,147,320
Gas Utilities 5.26% 15,012,240
KeySpan Corp. 205,700 8,118,979
NiSource, Inc. 133,550 3,058,295
Peoples Energy Corp. 70,200 3,006,666
Vectren Corp. 30,000 828,300
Integrated Telecommunication Services 0.00% 31
Touch America Holdings, Inc. (H) 31,000 31
Multi-Utilities & Unregulated Power 9.34% 26,622,352
Aquila, Inc. (I) 247,500 915,750
Dominion Resources, Inc. 79,700 5,529,586
Duke Energy Corp. 90,000 2,411,100
Energy East Corp. 330,000 8,646,000
National Fuel Gas Co. 70,700 1,993,740
Public Service Enterprise Group, Inc. 16,000 844,000
Puget Energy, Inc. 130,400 3,132,208
TECO Energy, Inc. 196,750 3,149,968
Credit
Issuer, description rating (A) Shares Value
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Preferred stocks 62.50% $178,192,517
(Cost $169,203,860)
Agricultural Products 1.29% 3,683,812
Ocean Spray Cranberries, Inc., 6.25%, Ser A (S) BB+ 44,250 3,683,812
Broadcasting & Cable TV 0.40% 1,129,650
Shaw Communications, Inc., 8.50% (Canada) B+ 44,300 1,129,650
Consumer Finance 1.84% 5,257,800
SLM Corp., 6.97%, Ser A BBB+ 92,000 5,257,800
Diversified Banks 3.11% 8,865,640
Bank of America Corp., 6.75%, Depositary Shares, Ser VI A- 93,800 5,046,440
Royal Bank of Scotland Group Plc, 5.75%, Ser L (United Kingdom) A 155,000 3,819,200
Electric Utilities 19.30% 55,020,649
Alabama Power Co., 5.20% BBB+ 229,475 5,762,117
Baltimore Gas & Electric Co., 6.70%, Ser 1993 BBB- 20,250 2,106,634
Boston Edison Co., 4.78% BBB+ 67,342 6,207,586
Carolina Power & Light Co., $4.20 Baa3 41,151 3,253,501
Carolina Power & Light Co., $5.44 BB+ 10,260 1,002,915
Delmarva Power & Light Co., 3.70% BBB- 13,109 977,440
Duquesne Light Co., 6.50% BB+ 52,000 2,761,200
Georgia Power Co., 6.00%, Ser R A 34,900 886,460
Interstate Power & Light Co., 7.10%, Ser C BBB- 51,500 1,462,924
Monongahela Power Co., $6.28, Ser D CCC+ 24,931 2,268,721
Monongahela Power Co., $7.73, Ser L B- 55,500 5,494,500
PPL Electric Utilities Corp., 4.40% BBB 22,580 1,766,885
PSI Energy, Inc., 6.875% BBB- 49,260 5,159,985
Sierra Pacific Power Co., 7.80%, Ser 1 (Class A) CCC+ 200,986 4,924,157
Virginia Electric & Power Co., $4.80 BBB 6,338 602,308
Virginia Electric & Power Co., $6.98 BBB 35,000 3,661,875
Virginia Electric & Power Co., $7.05 BBB 10,000 1,046,875
Wisconsin Public Service Corp., 6.76% A 35,883 3,722,861
Xcel Energy, Inc., $4.08, Ser B BB+ 8,610 718,935
Xcel Energy, Inc., $4.11, Ser D BB+ 8,770 666,520
Xcel Energy, Inc., $4.16, Ser E BB+ 7,500 566,250
Gas Utilities 5.14% 14,682,625
El Paso Tennessee Pipeline Co., 8.25%, Ser A CCC- 186,000 9,358,125
Southern Union Co., 7.55% BB+ 185,200 5,324,500
Integrated Oil & Gas 1.45% 4,128,300
Coastal Finance I, 8.375% CCC- 165,000 4,128,300
Integrated Telecommunication Services 0.02% 50,000
Touch America Holdings, Inc., $6.875 (H) D 50,000 50,000
Investment Banking & Brokerage 9.37% 26,716,763
Bear Stearns Cos., Inc. (The), 5.49%, Depositary Shares, Ser G BBB 50,650 2,646,463
Bear Stearns Cos., Inc. (The), 5.72%, Depositary Shares, Ser F BBB 95,300 5,003,250
Bear Stearns Cos., Inc. (The), 6.15%, Depositary Shares, Ser E BBB 84,000 4,452,000
J.P. Morgan Chase & Co., 6.625%, Depositary Shares, Ser H A- 100,000 5,378,000
Lehman Brothers Holdings, Inc., 5.67%, Depositary Shares, Ser D BBB+ 124,800 6,520,800
Lehman Brothers Holdings, Inc., 5.94%, Depositary Shares, Ser C BBB+ 53,000 2,716,250
Multi-Utilities & Unregulated Power 8.56% 24,397,640
Baltimore Gas & Electric Co., 6.99%, Ser 1995 Baa1 30,000 3,152,814
BGE Capital Trust II, 6.20% BBB- 191,000 4,891,510
Energy East Capital Trust I, 8.25% BBB- 180,700 4,770,480
Public Service Electric & Gas Co., 4.18%, Ser B BB+ 10,587 849,607
Public Service Electric & Gas Co., 6.92% BB+ 47,998 5,009,791
South Carolina Electric & Gas Co., 6.52% Baa1 55,000 5,723,438
Oil & Gas Exploration & Production 6.17% 17,591,148
Anadarko Petroleum Corp., 5.46%, Depositary Shares, Ser B BBB- 47,700 4,746,150
Apache Corp., 5.68%, Depositary Shares, Ser B BBB 51,500 5,328,643
Devon Energy Corp., 6.49%, Ser A BB+ 50,645 5,369,955
Nexen, Inc., 7.35% (Canada) BB+ 80,000 2,146,400
Other Diversified Financial Services 3.60% 10,262,730
Citigroup, Inc., 6.213%, Depositary Shares, Ser G A 96,000 5,212,800
Citigroup, Inc., 6.231%, Depositary Shares, Ser H A 64,500 3,483,000
Citigroup, Inc., 6.365%, Depositary Shares, Ser F A 28,500 1,566,930
Regional Banks 1.76% 5,014,260
HSBC USA, Inc., $2.8575 A1 93,900 5,014,260
Trucking 0.49% 1,391,500
AMERCO, 8.50%, Ser A CCC+ 55,000 1,391,500
Interest Par value
Issuer, description, maturity date rate (%) ($000) Value
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Short-term investments 2.69% $7,658,000
(Cost $7,658,000)
Commercial Paper 2.69% 7,658,000
ChevronTexaco Co., 02-01-05 2.420 7,658 7,658,000
Total investments 100.00% $285,104,882
John Hancock
Patriot Premium Dividend Fund II
Footnotes to Schedule of Investments
January 31, 2005 (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.
(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 $3,683,812 or 1.29% of
the Fund's net assets as of January 31, 2005.
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 $270,491,252. Gross unrealized
appreciation and depreciation of investments aggregated $31,733,989
and $17,120,359, respectively, resulting in net unrealized
appreciation of $14,613,630.
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
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: PDT
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 II.
P20Q1 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 Patriot Premium Dividend Fund II
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