| 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) 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: | October 31 |
|
Date of reporting period: |
January 31, 2006 |
|
ITEM 1. SCHEDULE OF INVESTMENTS |
John Hancock
Patriot Premium Dividend Fund II
Securities owned by the Fund on
January 31, 2006 (unaudited)
| Issuer | Shares | Value |
| Common stocks 35.70% | $99,761,124 | |
| (Cost $87,559,648) | ||
| Electric Utilities 2.34% | 6,503,217 | |
|
| ||
| Cinergy Corp. | 50,000 | 2,172,500 |
| Progress Energy, Inc. | 99,000 | 4,318,380 |
| Progress Energy, Inc. (Contingent Value Obligation) (B)(I) | 176,250 | 12,337 |
| Gas Utilities 2.09% | 5,843,014 | |
|
| ||
| Atmos Energy Corp. | 15,250 | 400,770 |
| National Fuel Gas Co. | 86,000 | 2,829,400 |
| Peoples Energy Corp. | 70,200 | 2,612,844 |
| Integrated Telecommunication Services 1.40% | 3,922,382 | |
|
| ||
| AT&T Inc. | 102,350 | 2,655,982 |
| Verizon Communications, Inc. | 40,000 | 1,266,400 |
| Multi-Utilities & Unregulated Power 29.87% | 83,492,511 | |
|
| ||
| Alliant Energy Corp. | 182,900 | 5,424,814 |
| Ameren Corp. | 80,000 | 4,060,800 |
| CH Energy Group, Inc. | 198,800 | 9,323,720 |
| Consolidated Edison, Inc. | 78,000 | 3,666,780 |
| Dominion Resources, Inc. | 79,700 | 6,019,741 |
| DTE Energy Co. | 193,500 | 8,165,700 |
| Duke Energy Corp. | 90,000 | 2,551,500 |
| Energy East Corp. | 320,000 | 7,952,000 |
| KeySpan Corp. | 205,700 | 7,388,744 |
| NiSource, Inc. | 133,550 | 2,741,781 |
| NSTAR | 276,000 | 7,932,240 |
| OGE Energy Corp. | 137,632 | 3,736,709 |
| Public Service Enterprise Group, Inc. | 16,000 | 1,113,920 |
| Sierra Pacific Resources (I) | 128,650 | 1,698,180 |
| TECO Energy, Inc. | 196,750 | 3,360,490 |
| Vectren Corp. | 30,000 | 820,800 |
| WPS Resources Corp. | 55,400 | 3,106,832 |
| Xcel Energy, Inc. | 228,000 | 4,427,760 |
Page 1
John Hancock
Patriot Premium Dividend Fund II
Securities owned by the Fund on
January 31, 2006 (unaudited)
| Credit | ||||
| Issuer, description | rating (A) | Shares | Value | |
| Preferred stocks 62.10% | $173,604,656 | |||
| (Cost $169,017,186) | ||||
| Agricultural Products 1.31% | 3,657,541 | |||
|
| ||||
| Ocean Spray Cranberries, Inc., 6.25%, Ser A (S) | BB+ | 44,250 | 3,657,541 | |
| Consumer Finance 1.77% | 4,949,600 | |||
|
| ||||
| SLM Corp., 6.97%, Ser A | BBB+ | 92,000 | 4,949,600 | |
| Diversified Banks 2.63% | 7,360,515 | |||
|
| ||||
| Bank of America Corp., 6.75%, Depositary Shares, Ser VI | A | 76,700 | 4,022,915 | |
| Royal Bank of Scotland Group Plc, 5.75%, Ser L (United Kingdom) | A | 140,000 | 3,337,600 | |
| Electric Utilities 19.83% | 55,440,807 | |||
|
| ||||
| Alabama Power Co., 5.20% | BBB+ | 262,475 | 6,338,771 | |
| Boston Edison Co., 4.78% | BBB+ | 67,342 | 6,040,577 | |
| Carolina Power & Light Co., $4.20 | Baa3 | 41,151 | 3,005,311 | |
| Carolina Power & Light Co., $5.44 | BB+ | 11,382 | 1,035,762 | |
| Delmarva Power & Light Co., 3.70% | BBB- | 13,109 | 890,593 | |
| Duquesne Light Co., 6.50% | BB+ | 107,000 | 5,499,800 | |
| Entergy Mississippi, Inc., 6.25% | BB+ | 153,000 | 3,815,437 | |
| Georgia Power Co., 6.00%, Ser R | A | 49,900 | 1,247,500 | |
| Interstate Power & Light Co., 7.10%, Ser C | BBB- | 76,500 | 2,063,113 | |
| Interstate Power & Light Co., 8.375%, Ser B | Baa3 | 25,000 | 825,000 | |
| Monongahela Power Co., $6.28, Ser D | B+ | 24,931 | 2,349,747 | |
| PPL Electric Utilities Corp., 4.40% | BBB | 29,790 | 2,468,102 | |
| Sierra Pacific Power Co., 7.80%, Ser 1 (Class A) | CCC+ | 200,986 | 5,115,094 | |
| Southern California Edison Co., 6.125% | BBB- | 35,000 | 3,541,563 | |
| Virginia Electric & Power Co., $4.80 | BB+ | 6,581 | 614,707 | |
| Virginia Electric & Power Co., $6.98 | BB+ | 35,000 | 3,666,250 | |
| Virginia Electric & Power Co., $7.05 | BB+ | 10,000 | 1,047,813 | |
| Wisconsin Public Service Corp., 6.76% | A- | 35,883 | 3,719,499 | |
| Xcel Energy, Inc., $4.08, Ser B | BB+ | 8,610 | 697,410 | |
| Xcel Energy, Inc., $4.11, Ser D | BB+ | 8,770 | 716,948 | |
| Xcel Energy, Inc., $4.16, Ser E | BB+ | 9,390 | 741,810 | |
| Gas Utilities 2.07% | 5,789,095 | |||
|
| ||||
| Southern Union Co., 7.55% | BB+ | 219,700 | 5,789,095 | |
| Integrated Oil & Gas 1.49% | 4,158,000 | |||
|
| ||||
| Coastal Finance I, 8.375% | CCC | 165,000 | 4,158,000 | |
Page 2
John Hancock
Patriot Premium Dividend Fund II
Securities owned by the Fund on
January 31, 2006 (unaudited)
| Integrated Telecommunication Services 0.00% | 0 | ||
|
| |||
| Touch America Holdings, Inc., $6.875 (B)(G)(H) | D | 50,000 | 0 |
| Investment Banking & Brokerage 7.30% | 20,399,094 | ||
|
| |||
| Bear Stearns Cos., Inc. (The), 5.49%, Depositary Shares, Ser G | BBB | 50,650 | 2,471,214 |
| Bear Stearns Cos., Inc. (The), 5.72%, Depositary Shares, Ser F | BBB | 95,300 | 4,765,000 |
| Bear Stearns Cos., Inc. (The), 6.15%, Depositary Shares, Ser E | BBB | 84,000 | 4,242,000 |
| Lehman Brothers Holdings, Inc., 5.67%, Depositary Shares, Ser D | A- | 124,800 | 6,177,600 |
| Lehman Brothers Holdings, Inc., 5.94%, Depositary Shares, Ser C | A- | 53,000 | 2,743,280 |
| Multi-Line Insurance 1.97% | 5,512,500 | ||
|
| |||
| MetLife, Inc., 6.50%, Ser B | BBB | 210,000 | 5,512,500 |
| Multi-Utilities & Unregulated Power 10.29% | 28,773,350 | ||
|
| |||
| Baltimore Gas & Electric Co., 6.70%, Ser 1993 | BBB- | 20,250 | 2,104,734 |
| Baltimore Gas & Electric Co., 6.99%, Ser 1995 | Baa1 | 30,000 | 3,128,439 |
| BGE Capital Trust II, 6.20% | BBB- | 195,000 | 4,837,950 |
| Energy East Capital Trust I, 8.25% | BBB- | 180,700 | 4,571,710 |
| Public Service Electric & Gas Co., 4.08%, Ser A | BB+ | 5,000 | 392,500 |
| Public Service Electric & Gas Co., 4.18%, Ser B | BB+ | 13,657 | 1,083,683 |
| Public Service Electric & Gas Co., 6.92% | BB+ | 47,998 | 5,006,791 |
| SEMPRA Energy, $4.36 | BBB+ | 19,250 | 1,540,000 |
| SEMPRA Energy, $4.75, Ser 53 | BBB+ | 6,305 | 542,230 |
| South Carolina Electric & Gas Co., 6.52% | Baa1 | 55,000 | 5,565,313 |
| Oil & Gas Exploration & Production 6.13% | 17,121,379 | ||
|
| |||
| Anadarko Petroleum Corp., 5.46%, Depositary Shares, Ser B | BBB- | 48,200 | 4,750,713 |
| Apache Corp., 5.68%, Depositary Shares, Ser B | BBB | 51,500 | 5,132,299 |
| Devon Energy Corp., 6.49%, Ser A | BB+ | 50,645 | 5,186,367 |
| Nexen, Inc., 7.35% (Canada) | BB+ | 80,000 | 2,052,000 |
| Other Diversified Financial Services 5.13% | 14,352,175 | ||
|
| |||
| Citigroup, Inc., 6.213%, Depositary Shares, Ser G | A | 96,000 | 4,920,000 |
| Citigroup, Inc., 6.231%, Depositary Shares, Ser H | A | 56,400 | 2,862,300 |
| Citigroup, Inc., 6.365%, Depositary Shares, Ser F | A | 28,500 | 1,474,875 |
| JPMorgan Chase & Co., 6.625%, Depositary Shares, Ser H | A- | 100,000 | 5,095,000 |
| Regional Banks 1.68% | 4,699,100 | ||
|
| |||
| HSBC USA, Inc., $2.8575 | A1 | 95,900 | 4,699,100 |
| Trucking 0.50% | 1,391,500 | ||
|
| |||
| AMERCO, 8.50%, Ser A | CCC+ | 55,000 | 1,391,500 |
Page 3
John Hancock
Patriot Premium Dividend Fund II
Securities owned by the Fund on
January 31, 2006 (unaudited)
| Interest | Par value | ||
| Issuer, maturity date | rate (%) | ($000) | Value |
| Short-term investments 2.20% | $6,161,000 | ||
| (Cost $6,161,000) | |||
| Commercial Paper 2.20% | 6,161,000 | ||
|
| |||
| Chevron Texaco Funding Corp., 02-01-06 | 4.350 | 6,161 | 6,161,000 |
| Total investments 100.00% | $279,526,780 | ||
Page 4
John Hancock
Patriot Premium Dividend Fund II
Footnotes to Schedule of Investments
January 31, 2006 (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 $3,657,541 or 1.31% of the Fund's total investments as of January 31, 2006.
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, 2006, including short-term investments, was $262,737,834. Gross unrealized appreciation and depreciation of investments aggregated $26,240,741 and $9,451,795, respectively, resulting in net unrealized appreciation of $16,788,946.
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 II |
| By: /s/ Keith F. Hartstein
------------------------------------- Keith F. Hartstein President and Chief Executive Officer Date: March 24, 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: March 24, 2006 |
| By: /s/ John G. Vrysen
------------------------------------- John G. Vrysen Executive Vice President and Chief Financial Officer |
| Date: March 24,
2006 |