a_patriotselectdiv.htm

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- 06107

John Hancock Patriot Select Dividend Trust
(Exact name of registrant as specified in charter)

601 Congress Street, Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)

Alfred P. Ouellette, Senior Counsel and 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:  June 30 
 
 
Date of reporting period:  September 30, 2007 

 

ITEM 1. SCHEDULE OF INVESTMENTS


John Hancock
Patriot Select Dividend Trust
Securities owned by the Fund on
September 30, 2007 (unaudited)

Issuer    Shares  Value 
Common stocks 58.40%      $87,772,596 
(Cost $77,658,422)       
 
Diversified Financial Services 0.72%      1,065,724 
Bank of America Corp.    21,200  1,065,724 
 
Electric Utilities 6.77%      10,180,781 
Integrys Energy Group, Inc.    98,643  5,053,481 
Pinnacle West Capital Corp.    30,000  1,185,300 
Progress Energy, Inc.    84,000  3,935,400 
Progress Energy, Inc. (Contingent Value       
Obligation) (B) (I)    20,000  6,600 
  
Gas Utilities 1.75%      2,628,382 
National Fuel Gas Co.    56,150  2,628,382 
  
Integrated Oil & Gas 2.59%      3,890,301 
BP plc (ADR) (United Kingdom) (F)    21,044  1,459,401 
Total SA (ADR) (France) (F)    30,000  2,430,900 
  
Integrated Telecommunication Services  3.73%    5,601,569 
AT&T, Inc.    97,700  4,133,687 
Verizon Communications, Inc.    33,150  1,467,882 
  
Multi-Utilities 42.41%      63,752,101 
Alliant Energy Corp.    148,000  5,671,360 
Ameren Corp.    85,400  4,483,500 
CH Energy Group, Inc.    151,250  7,229,750 
Consolidated Edison, Inc.    45,000  2,083,500 
Dominion Resources, Inc.    51,000  4,299,300 
Duke Energy Corp.    53,410  998,233 
DTE Energy Co.    155,900  7,551,796 
Energy East Corp.    240,750  6,512,288 
NiSource, Inc.    117,700  2,252,778 
NSTAR Electric Co.    188,000  6,544,280 
OGE Energy Corp.    126,092  4,173,645 
SCANA Corp.    21,700  840,658 
TECO Energy, Inc.    176,750  2,904,003 
Vectren Corp.    45,000  1,228,050 
Xcel Energy, Inc.    324,000  6,978,960 

Page 1

John Hancock
Patriot Select Dividend Trust
Securities owned by the Fund on
September 30, 2007 (unaudited)

Oil & Gas Storage & Transportation 0.43%      653,738 
Spectra Energy Corp.      26,705  653,738 
 
    Credit     
Issuer, description    rating (A)  Shares  Value 
Preferred stocks  86.42%      $129,942,201 
(Cost $130,567,942)         
 
Agricultural Products  2.31%      3,476,252 
Ocean Spray Cranberries, Inc., 6.25%, Ser A (S)  BB+  40,000  3,476,252 
  
Consumer Finance 2.88%      4,324,000 
SLM Corp., 6.97%, Ser A  BBB-  92,000  4,324,000 
  
Diversified Financial Services 4.50%      6,765,409 
Bank of America Corp., 6.204%, Depositary Shares,       
Ser D    A+  220,000  5,412,000 
Citigroup Capital VII, 7.125%  A+  30,000  750,600 
DB Capital Trust II, 6.55%  A+  25,275  602,809 
  
Electric Utilities 23.21%      34,900,324 
Alabama Power Co., 5.20%  BBB+  240,000  5,328,000 
Duquesne Light Co., 6.50%  BB  107,000  5,433,599 
Entergy Arkansas, Inc., 6.45%  BB+  100,000  2,556,250 
Entergy Mississippi, Inc., 6.25%  BB+  104,000  2,593,500 
Interstate Power & Light Co., 7.10%, Ser C  BBB-  25,000  639,845 
Interstate Power & Light Co., 8.375%, Ser B  Baa2  46,000  1,403,000 
PPL Electric Utilities Corp., 6.25%, Depositary       
Shares    BBB  200,000  5,081,260 
PPL Energy Supply, LLC, 7.00%  BBB  55,000  1,355,750 
Southern California Edison Co., 6.00%, Ser C  BBB-  18,000  1,821,375 
Southern California Edison Co., 6.125%  BBB-  35,000  3,618,125 
Virginia Electric & Power Co., $6.98  BB+  10,500  1,072,313 
Virginia Electric & Power Co., $7.05  BB+  10,000  1,014,688 
Westar Energy, Inc., 6.10%  AAA  90,000  2,205,900 
Wisconsin Public Service Corp., 6.76%  BBB+  7,500  776,719 
 
Gas Utilities 3.80%        5,718,601 
Southern Union Co., 7.55%, Ser A  BB  226,300  5,718,601 
  
Investment Banking & Brokerage 10.45%      15,710,190 
Bear Stearns Cos., Inc. (The), 5.49%, Depositary       
Shares, Ser G    BBB+  140,200  5,853,350 
Bear Stearns Cos., Inc. (The), 6.15%, Depositary       
Shares, Ser E    BBB+  23,000  1,098,250 
Goldman Sachs Group, Inc., 6.20%, Ser B  A  20,000  483,200 

Page 2

John Hancock
Patriot Select Dividend Trust
Securities owned by the Fund on
September 30, 2007 (unaudited)

Lehman Brothers Holdings, Inc., 5.67%, Depositary         
Shares, Ser D        A-  125,600  5,733,640 
Lehman Brothers Holdings, Inc., 5.94%, Depositary         
Shares, Ser C        A-  13,000  623,350 
Merrill Lynch & Co., Inc., 6.375%, Depositary         
Shares, Ser 3        A  80,000  1,918,400 
 
Life & Health Insurance  3.53%          5,308,350 
MetLife, Inc., 6.50%, Ser B        BBB  215,000  5,308,350 
 
Movies & Entertainment  0.47%          703,280 
Viacom, Inc., 6.85%        BBB  29,500  703,280 
 
Multi-Utilities 18.78%            28,240,664 
Baltimore Gas & Electric Co., 6.99%, Ser 1995    Ba1  40,000  4,100,000 
BGE Capital Trust II, 6.20%      BBB-  200,000  4,592,000 
NSTAR Electric Co., 4.25%      A-  64,157  4,940,089 
PNM Resources, Inc., 6.75%, Conv      BBB-  66,055  2,936,145 
PSEG Funding Trust II, 8.75%      BB+  36,300  915,123 
Public Service Electric & Gas Co., 6.92%      BB+  30,627  3,162,238 
SEMPRA Energy, $4.36        BBB+  19,250  1,520,750 
SEMPRA Energy, $4.75, Ser 53      BBB+  6,305  548,535 
South Carolina Electric & Gas Co., 6.52%    Baa1  55,000  5,525,784 
 
Oil & Gas Exploration & Production 9.80%        14,737,481 
Anadarko Petroleum Corp., 5.46%, Depositary         
Shares, Ser B        BB  20,000  1,933,126 
Apache Corp., 5.68%, Depositary Shares, Ser B    BBB  48,174  4,894,180 
Devon Energy Corp., 6.49%, Ser A      BB+  53,500  5,405,175 
Nexen, Inc., 7.35% (Canada)      BB+  100,200  2,505,000 
 
Regional Banks 3.72%            5,589,000 
HSBC USA, Inc., $2.8575 (G)      AA-  108,000  5,589,000 
 
Specialized Finance 0.53%          803,250 
CIT Group, Inc., 6.35%, Ser A      BBB+  35,000  803,250 
 
Thrifts & Mortgage Finance 1.60%          2,398,497 
Sovereign Bancorp, Inc., 7.30%, Depositary         
Shares, Ser C        BB+  90,000  2,398,497 
 
Wireless Telecommunication Service 0.84%        1,266,903 
Telephone & Data Systems, Inc., 6.625%      BB+  60,300  1,266,903 
 
      Interest    Par value   
Issuer, description, maturity date    rate    (000)  Value 
Short-term investments 1.47%        $2,213,000 
(Cost $2,212,422)             
 
Consumer Finance 1.47%          2,213,000 
Chevron Texaco Corp., Due 10-1-07    4.70% (Y)    $2,213  2,213,000 

Page 3

John Hancock
Patriot Select Dividend Trust
Securities owned by the Fund on
September 30, 2007 (unaudited)

Total investments (Cost $210,438,786) 146.29%    $219,927,797 
Other assets and liabilities, net 0.55%    $833,697 
Fund preferred shares, at liquidation value (46.84%)    ($70,421,167) 
Total net assets applicable to common shareholders  100.00%  $150,340,327 
 

The percentage shown for each investment category is the total value of that category as a percentage of the net assets applicable to common shareholders.

Page 4

John Hancock
Patriot Select Dividend Trust
Notes to Schedule of Investments
September 30, 2007 (unaudited)

ADR American Depositary Receipt

(A) Credit ratings are unaudited and are rated by Moody's Investors Service where Standard & Poor's ratings are not available unless indicated otherwise.

(B) This security is fair valued in good faith under procedures established by the Board of Trustees. This security amounted to $6,600 or 0.004% of the net assets applicable to common shareholders as of September 30, 2007.

(F) Parenthetical disclosure of a foreign country in the security description represents country of a foreign issuer; however, security is US dollar-denominated.

(G) Security rated internally by John Hancock Advisers, LLC.

(I) Non-income-producing security.

(S) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $3,476,252 or 2.31% of the net assets applicable to common shareholders as of September 30, 2007.

(Y) Represents current yield on September 30, 2007.

The cost of investments owned on September 30, 2007, including short-term investments, was $210,438,786. Gross unrealized appreciation and depreciation of investments aggregated $15,088,245 and $5,599,234 respectively, resulting in net unrealized appreciation of $9,489,011.

Notes to Schedule of Investments - Page 1

Notes to portfolio of investments

Security valuation

The net asset value of the common shares of the Fund is determined daily as of the close of the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. Short-term debt investments that have a remaining maturity of 60 days or less are valued at amortized cost, and thereafter assume a constant amortization to maturity of any discount or premium, which approximates market value. All other securities held by the Fund are valued at the last sale price or official closing price (closing bid price or last evaluated quote if no sale has occurred) as of the close of business on a principal securities exchange (domestic or foreign) on which they trade or, lacking any sales, at the closing bid price. Securities traded only in the over-the-counter market are valued at the last bid price quoted by brokers making markets in the securities at the close of trading. Securities for which there are no such quotations, principally debt securities, are valued based on the valuation provided by an independent pricing service, which utilizes both dealer-supplied and electronic data processing techniques, which take into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data.

Other assets and securities for which no such quotations are readily available are valued at their fair value as determined in good faith under consistently applied procedures established by and under the general supervision of the Board of Trustees. Generally, trading in non-U.S. securities is substantially completed each day at various times prior to the close of trading on the NYSE. The values of such securities used in computing the net asset value of a Fund’s shares are generally determined as of such times. Occasionally, significant events that affect the values of such securities may occur between the times at which such values are generally determined and the close of the NYSE. Upon such an occurrence, these securities will be valued at their fair value as determined in good faith under consistently applied procedures established by and under the general supervision of the Board of Trustees.

Notes to Schedule of Investments - Page 2


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 Select Dividend Trust

By: /s/ Keith F. Hartstein
-------------------------------------
Keith F. Hartstein
President and
Chief Executive Officer

Date: November 19, 2007

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: November 19, 2007

By: /s/ Charles A. Rizzo
-------------------------------------
Charles A. Rizzo
Chief Financial Officer

Date: November 19, 2007