DHFT Diamond Hill Finl (MM)

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- 57347

John Hancock Financial Trends Fund, Inc.
(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

ITEM 1. SCHEDULE OF INVESTMENTS

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John Hancock
Financial Trends Fund, Inc.
Securities owned by the Fund on
September 30, 2007 (unaudited)

Issuer		Shares	Value
Common stocks 97.02%			$77,345,158
(Cost $46,635,139)
Aerospace & Defense 1.08%			861,941
AerCap Holdings NV (Netherlands) (I)(F)		34,630	861,941
Asset Management & Custody Banks 10.68%			8,514,890
Affiliated Managers Group, Inc. (I)		18,850	2,403,563
Bank of New York Mellon Corp.		20,741	915,508
Eaton Vance Corp.		20,000	799,200
Franklin Resources, Inc.		2,500	318,750
Legg Mason, Inc.		16,550	1,394,999
Northern Trust Corp.		5,000	331,350
State Street Corp.		34,500	2,351,520
Consumer Finance 2.76%			2,200,120
Discover Financial Services		105,775	2,200,120
Diversified Banks 8.54%			6,806,525
U.S. Bancorp.		66,150	2,151,859
Wachovia Corp.		45,653	2,289,498
Wells Fargo & Co.		66,400	2,365,168
Diversified Capital Markets 2.07%			1,648,087
UBS AG (Switzerland) (F)		30,950	1,648,087
Investment Banking & Brokerage 8.57%			6,834,447
Evercore Partners, Inc.		6,450	169,570
KBW, Inc. (I)		5,700	164,046
Lazard Ltd. (Class A) (Bermuda) (F)		26,900	1,140,560
Lehman Brothers Holdings, Inc.		6,700	413,591
Merrill Lynch & Co., Inc.		18,550	1,322,244
MF Global Ltd. (Bermuda) (F)(I)		57,100	1,655,900
Raymond James Financial, Inc.		59,925	1,968,536
Life & Health Insurance 5.55%			4,423,724
AFLAC, Inc.		25,000	1,426,000
Prudential Financial, Inc.		23,110	2,255,074
StanCorp Financial Group, Inc.		15,000	742,650
Managed Health Care 1.13%			900,798
UnitedHealth Group, Inc.		18,600	900,798
Marine 0.80%			635,614
Oceanfreight, Inc. (Greece) (F)		27,350	635,614

Page 1

Page 2

The percentage shown for each investment category is the total value of that category as a percentage of the net assets of the Fund.

Page 3

John Hancock
Financial Trends Fund, Inc.
Notes to Schedule of Investments
September 30, 2007 (unaudited)

(C) Parenthetical disclosure of a country in the security description represents country of issuer; however, the security is euro-denominated.

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

(I) Non-income-producing security.

(L) All or a portion of this security is on loan as of September 30, 2007.

(T) Represents investment of securities lending collateral.

(W) Issuer is an affiliate of John Hancock Advisers, LLC.

The cost of investments owned on September 30, 2007, including short-term investments, was $49,781,717. Gross unrealized appreciation and depreciation of investments aggregated $31,479,155 and $769,136, respectively, resulting in net unrealized appreciation of $30,710,019.

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. Investments in John Hancock Cash Investment Trust (JHCIT), an affiliate of John Hancock Advisers, LLC (the Adviser), a wholly owned subsidiary of John Hancock Financial Services, Inc., a subsidiary of Manulife Financial Corporation (MFC), are valued at their net asset value each business day. 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 the 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 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 the 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 fair value as determined in good faith under consistently applied procedures established by and under the general supervision of the Board of Trustees.

Joint repurchase agreement

Pursuant to an exemptive order issued by the Securities and Exchange Commission, the Fund, along with other registered investment companies having a management contract with the Adviser, a wholly owned subsidiary of John Hancock Financial Services, Inc., a subsidiary of Manulife Financial Corporation, may participate in a joint repurchase agreement transaction. Aggregate cash balances are invested in one or more large repurchase agreements, whose underlying securities are obligations of the U.S. government and/or its agencies. The Fund’s custodian bank receives delivery of the underlying securities for the joint account on the Fund’s behalf. The Adviser is responsible for ensuring that the agreement is fully collateralized at all times.

Securities lending

The Fund may lend securities in amounts up to 331 / 3% of the Fund’s total assets. Such loans are callable at any time and are at all times fully secured by cash, cash equivalents or securities issued or guaranteed by the U.S. government or its agencies or instrumentalities and marked-to-market on a daily basis. The Fund may bear the risk of delay in recovery of, or even of rights in, the securities loaned should the borrower of the securities fail financially. The Fund receives compensation for lending their securities either in the form of fees and/or by retaining a portion of interest on the investment of any cash received as collateral. The Fund invests the cash collateral received in connection with securities lending transactions in the JHCIT, a Delaware common law trust and an affiliated fund. JHCIT is exempt from registration under Section 3(c)(7) of the 1940 Act (pursuant to exemptive order issued by the SEC) and is managed by the Adviser, for which the Adviser receives an investment advisory fee of 0.04% of the average daily net assets of the JHCIT.

Notes to Schedule of Investments - Page 2

All collateral received will be in an amount equal to at least 100% of the market value of the loaned securities and is intended to be maintained at that level during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund the next business day. During the loan period, the Fund continues to retain rights of ownership, including dividends and interest of the loaned securities.

Notes to Schedule of Investments - Page 3

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 Financial Trends Fund, Inc.

By: /s/ Barry H. Evans
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Barry H. Evans
President

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/ Barry H. Evans
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Barry H. Evans
President

Date: November 19, 2007

By: /s/ Paul T. Kane
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Paul T. Kane
Assistant Treasurer

Date: November 19, 2007

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