September 27, 2004
EDGAR
United States Securities and
Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Form N-Q
Ladies and Gentlemen:
Enclosed herewith for filing pursuant to the Investment Company Act of 1940
and the Securities Exchange Act of 1934 is the Registrant's Form N-Q filing
for the quarter ending July 31, 2004.
If you have any questions or comments regarding this filing, please contact
the undersigned at (617) 375-1513.
Sincerely,
/s/ Alfred P. Ouellette
Alfred Ouellette
Senior Attorney and Assistant Secretary
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: July 31, 2004
ITEM 1. SCHEDULE OF INVESTMENTS
JOHN HANCOCK
Bank and Thrift Opportunity Fund
7.31.2004
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
Bank and Thrift Opportunity Fund
Securities owned by the fund on
July 31, 2004 (unaudited)
Issuer Shares Value
COMMON STOCKS 98.94% $881,231,389
(Cost $395,419,519)
Banks - Money Center 4.22% 37,570,474
Citigroup, Inc. (NY) 449,925 19,837,193
JPMorgan Chase & Co. (MA) 475,041 17,733,281
Banks - Regional 57.39% 511,215,902
ABC Bancorp. (GA) 65,400 1,147,116
Alabama National Bancorp. (AL) 142,500 8,155,275
AmericanWest Bancorp. (WA) (I) 357,921 6,192,033
AmSouth Bancorp. (AL) (L) 95,879 2,351,912
Bank of New York Co., Inc. (The) (NY) 288,000 8,274,240
Banknorth Group, Inc. (ME) 682,688 21,784,574
BB&T Corp. (NC) (L) 344,846 13,355,886
Beverly National Corp. (MA) 47,500 1,187,500
BOK Financial Corp. (OK) (I) (L) 117,208 4,809,044
Camden National Corp. (ME) 140,000 4,345,600
Capital City Bank Group, Inc. (FL) 59,635 2,302,507
Cardinal Financial Corp. (VA) (I) 86,200 786,144
Cascade Bancorp. (OR) 194,272 3,551,292
Chittenden Corp. (VT) 140,196 4,762,458
City Holding Co. (WV) 41,600 1,267,552
City National Corp. (CA) 224,427 14,475,541
CoBiz, Inc. (CO) 8,650 118,505
Colonial BancGroup (The), Inc. (AL) 585,200 11,288,508
Columbia Bancorp. (MD) 90,000 2,486,700
Columbia Bancorp. (OR) 13,250 205,375
Columbia Banking System, Inc. (WA) 29,645 645,372
Commercial Bankshares, Inc. (FL) (L) 63,702 1,783,656
Community Banks, Inc. (PA) 105,055 2,795,514
Compass Bancshares, Inc. (AL) 600,857 26,491,785
Cullen/Frost Bankers, Inc. (TX) 20,000 860,400
Dearborn Bancorp., Inc. (MI)(I) 37,470 979,841
Desert Community Bank (CA) 137,500 3,368,750
DNB Financial Corp. (PA) 65,830 1,655,624
East-West Bancorp., Inc. (CA) 680,000 22,929,600
F.N.B. Corp. (PA) 90,049 1,812,686
Financial Institutions, Inc. (NY) 73,000 1,697,250
First Charter Corp. (NC) 52,200 1,177,110
First Horizon National Corp. (TN) (L) 170,900 7,408,515
First Midwest Bancorp., Inc. (IL) 18,000 607,860
First National Bankshares of Florida (FL) 92,750 1,650,023
First Regional Bancorp. (CA) (I)(K) 100,000 2,724,300
First Regional Bancorp. (CA) (I) 50,000 1,513,500
First State Bancorp. (NM) 65,000 1,901,250
FirstMerit Corp. (OH) 2,950 76,523
FNB Bankshares (ME) 62,340 1,511,745
Fulton Financial Corp. (PA) 106,803 2,190,530
Glacier Bancorp., Inc. (MT) 294,231 7,791,237
Harleysville National Corp. (PA) 131,216 3,079,640
Hibernia Corp. (Class A) (LA) 230,000 5,819,000
Independent Bank Corp. (MI) 308,105 7,881,326
International Bancshares Corp. (TX) 160,270 6,178,408
M&T Bank Corp. (NY) 238,657 22,249,992
Marshall & Ilsley Corp. (WI) (L) 334,545 12,849,873
MB Financial, Inc. (IL) 105,000 3,826,200
Mercantile Bankshares Corp. (MD) 209,500 9,513,395
Merrill Merchants Bankshares, Inc. (ME) 73,687 1,635,851
Mid-State Bancshares (CA) 50,000 1,218,500
National Commerce Financial Corp. (TN) 823,392 26,760,240
North Fork Bancorp., Inc. (NY) 290,800 11,355,740
Northern Trust Corp. (IL) 70,000 2,809,100
Northrim Bancorp., Inc. (AK) 70,053 1,411,568
Oriental Financial Group, Inc. (Puerto Rico) 18,395 468,153
Pacific Capital Bancorp. (CA) 364,354 10,099,893
Prosperity Bancshares, Inc. (TX) 120,000 2,907,600
Provident Bankshares Corp. (MD) 165,058 4,933,584
Regions Financial Corp. (AL) 127,390 3,782,209
Republic Bancorp., Inc. (MI) 3,000 43,950
S&T Bancorp., Inc. (PA) 154,700 5,146,869
Sandy Spring Bancorp., Inc. (MD) 9,500 296,020
Security Bank Corp. (GA) 35,000 1,148,350
Sky Financial Group, Inc. (OH) 234,850 5,483,747
SouthTrust Corp. (AL) 784,350 30,424,936
Southwest Bancorp. of Texas, Inc. (TX) (I) 520,660 10,595,431
Southwest Bancorp., Inc. (OK) 9,000 168,480
State Street Corp. (MA) 48,000 2,054,880
Summit Bancshares, Inc. (TX) 139,500 4,274,280
Synovus Financial Corp. (GA) 450,000 11,461,500
Taylor Capital Group, Inc. (IL) 213,200 5,121,064
TCF Financial Corp. (MN) (L) 214,008 12,926,083
TriCo Bancshares (CA) 53,000 955,590
UCBH Holdings, Inc. (CA) 200,000 7,818,000
Umpqua Holdings Corp. (OR) 177,901 4,022,342
Univest Corp. (PA) 136,812 5,321,987
Valley National Bancorp. (NJ) 149,892 3,729,313
Vineyard National Bancorp., Co. (CA) 75,000 3,188,025
Virginia Commerce Bancorp., Inc. (VA)(I) 13,337 323,422
Webster Financial Corp. (CT) 70,110 3,289,561
West Coast Bancorp. (OR) 67,583 1,391,534
Whitney Holding Corp. (LA) 106,500 4,351,590
Wilmington Trust Corp. (DE) 350,000 12,215,000
Yardville National Bancorp. (NJ) 97,400 2,624,930
Zions Bancorp. (UT) 456,825 27,637,913
Banks - Superregional 22.95% 204,393,632
Bank of America Corp. (NC) 322,335 27,401,698
Comerica, Inc. (MI) 447,400 26,159,478
Fifth Third Bancorp. (OH) (L) 467,563 23,078,910
KeyCorp (OH) 320,000 9,657,600
Mellon Financial Corp. (PA) 330,000 9,068,400
National City Corp. (DE) 590,188 21,541,862
PNC Financial Services Group (PA) 390,500 19,759,300
U.S. Bancorp. (MN) 941,041 26,631,460
Wachovia Corp. (NC) (L) 331,625 14,694,304
Wells Fargo & Co. (CA) 459,861 26,400,620
Broker Services 0.20% 1,793,608
Lehman Brothers Holdings, Inc. (NY) 20,000 1,402,000
Piper Jaffray Cos., Inc. (MN) (I) (L) 9,610 391,608
Finance 1.08% 9,660,844
CIT Group, Inc. (NY) 206,900 7,191,844
MBNA Corp. (DE) 100,000 2,469,000
Insurance 1.37% 12,157,680
MetLife, Inc. (NY) (L) 104,000 3,709,680
Prudential Financial, Inc. (NJ) 60,000 2,793,600
XL Capital Ltd. (Class A) (Bermuda) 80,000 5,654,400
Investment Management 2.66% 23,679,982
Affiliated Managers Group, Inc. (MA) (I) (L) 270,750 12,430,132
Federated Investors, Inc. (Class B) (PA) 30,000 843,300
Legg Mason, Inc. (MD) 132,500 10,406,550
Mortgage Banking 4.05% 36,082,800
Countrywide Financial Corp. (CA) (L) 225,000 16,222,500
Fannie Mae (DC) 122,500 8,692,600
Freddie Mac (VA) 140,000 9,003,400
New Century Financial Corp. (CA) (I) 46,000 2,164,300
Thrifts 5.02% 44,676,467
Astoria Financial Corp. (NY) 71,910 2,456,446
Commercial Capital Bancorp., Inc. (CA) (I) (L) 450,000 9,886,500
GreenPoint Financial Corp. (NY) 255,750 10,391,122
Hingham Institute for Savings (MA) 80,000 3,336,000
LSB Corp. (MA) 65,000 1,107,600
NewAlliance Bancshares, Inc. (CT) (I) (L) 12,581 175,505
New York Community Bancorp, Inc. (NY) 40,000 769,600
PennFed Financial Services, Inc. (NJ) (I) 156,800 5,160,288
Sovereign Bancorp, Inc. (PA) 30,000 653,100
Washington Mutual, Inc. (WA) 276,812 10,740,306
Interest Par value
Issuer, Description, Maturity date rate (000) Value
BONDS 0.10% $920,612
(Cost $770,000)
Banks - United States 0.10% 920,612
CSBI Capital Trust I, Sub Cap Income, Ser A 06-06-27 (B) 11.750% $770 920,612
SHORT-TERM INVESTMENTS 9.16% $81,625,500
(Cost $81,625,500)
Certificates of Deposit 0.01% 76,808
Deposits in mutual banks 77 76,808
Joint Repurchase Agreement 0.93% 8,321,000
Investment in a joint repurchase agreement transaction with
Barclays Capital, Inc. - Dated 07-30-04, due 08-02-04 (Secured by
U.S. Treasury Inflation Indexed Bond 3.625%, due 04-15-28, and
U.S. Treasury Inflation Indexed Note 3.000%, due 07-15-12) 1.330 8,321 8,321,000
Shares
Cash Equivalents 8.22% 73,227,692
AIM Cash Investment Trust (T) 73,227,692 73,227,692
TOTAL INVESTMENTS 108.20% $963,777,501
OTHER ASSETS AND LIABILITIES, NET (8.20%) ($73,060,968)
TOTAL NET ASSETS 100.00% $890,716,533
John Hancock
Bank and Thrift Opportunity Fund
Footnotes to Schedule of Investments
July 31, 2004 (unaudited)
(B) This security is valued in good faith under procedures established by
the Board of Trustees.
(I) Non-income-producing security.
(K) Direct placement securities are restricted to resale. They have been
valued in accordance with procedures approved by the Trustees after
consideration of restrictions as to resale, financial condition and
prospects of the issuer, general market conditions and pertinent
information in accordance with the Fund's By-Laws and the Investment
Company Act of 1940, as amended. The Fund has limited rights to
registration under the Securities Act of 1933 with respect to these
restricted securities. Additional information on these securities is
as follows: See table on attached spreadsheet.
(L) All or a portion of this security is on loan on July 31, 2004.
(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 net assets of the Fund.
The cost of investments owned on July 31, 2004, including short-term
investments, was $477,815,019. Gross unrealized appreciation and
depreciation of investments aggregated $488,389,635 and $2,427,153,
respectively, resulting in net unrealized appreciation of
$485,962,482.
John Hancock
Bank and Thrift Opportunity Fund
Direct Placement Securities
July 31, 2004 (unaudited)
Value as a
percentage
Acquisition Acquisition of fund's Value as of
Issuer, description date Cost net assets July 31, 2004
First Regional Bankcorp 03-25-04 $2,950,000 0.31% $2,724,300
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.)
John P. Toolan*
*Members of the Audit Committee
Officers
James A. Shepherdson
President and Chief Executive Officer
Richard A. Brown
Senior Vice President and
Chief Financial 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
24-hour automated information 1-800-843-0090
TDD line 1-800-231-5469
This report is for the information of the shareholders
of the John Hancock Bank and Thrift Opportunity Fund.
P90Q3 7/04
9/04
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 financial
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 financial 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: September 27, 2004
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: September 27, 2004
By:
-----------------------
Richard A. Brown
Senior Vice President and Chief Financial Officer
Date: September 27, 2004