as of  12/31/02                                                        FORM 13F
Name of Reporting Manager: HAMBRECHT & QUIST CAPITAL MANAGEMENT LLC
Page 1 of 1



                                                                                                                  (SEC USE ONLY)
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                                                                                                               ITEM 6:
                                                                                       ITEM 5:          INVESTMENT DISCRETION
ITEM 1:                                ITEM 2:          ITEM 3:         ITEM 4:      SHARES OF         -------------------------
NAME OF ISSUER                      TITLE OF CLASS        CUSIP     FAIR MARKET      PRINCIPAL           (b) SHARED-
                                                         NUMBER           VALUE         AMOUNT  (a) SOLE  AS DEFINED   (c) SHARED-
                                                                                                          IN INSTR. V    OTHER
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Abgenix                                Common         00039B107      $3,648,150        495,000     X
Adolor                                 Common         00724X102       7,108,332        518,100     X
Aradigm                                Common         038505103         567,000        350,000     X
Biofield                               Common         090591207         228,505        878,866     X
Biofield (Restricted)                  Common         090591207         208,000      1,000,000     X
Biopure                                Common         09065H915         631,456        169,746     X
BioTransplant                          Common         09066Y107         320,633        712,518     X
Catalytica Energy Systems              Common         148884109         354,701        128,515     X
Celgene                                Common         151020104      14,814,300        690,000     X
Corixa                                 Common         21887F100       4,579,055        716,597     X
Cubist Pharmaceuticals                 Common         229990981       7,884,381        958,003     X
CV Therapeutics                        Common         126667104       9,953,713        546,307     X
Cytyc                                  Common         232946103       4,429,717        434,286     X
deCODE Genetics                        Common          24386104       2,876,750      1,555,000     X
Digene                                 Common         253752109         315,150         27,500     X
Dyax                                   Common         26746E103       1,249,677        694,265     X
Endocardial Solutions                  Common         292962107       5,633,331      1,666,666     X
Endologix                              Common         292665106         280,500        330,000     X
Envirogen                              Common         294040100          15,416         20,833     X
EP MedSystems                          Common         26881P103       2,687,500      1,075,000     X
Exelixis                               Common         30161Q104       9,776,000      1,222,000     X
Genzyme                                Common         372917104       4,021,520        136,000     X
Gilead Sciences                        Common         37555B103      24,705,624        726,636     X
IDEXX Laboratories                     Common         45168D104       8,212,500        250,000     X
Impax Laboratories                     Common         45256B101       1,548,261        386,100     X
IVAX                                   Common         465823102       6,603,572        544,400     X
Kosan                                  Common         50064W107       2,667,765        439,500     X
Lexicon Genetics                       Common        5288872104       1,641,310        347,000     X
Lynx Therapeutics                      Common         551812308         813,850      1,985,000     X
Martek Biosciences                     Common         572901106      19,630,435        780,224     X
MedImmune                              Common         584699102      11,166,870        411,000     X
Molecular Devices                      Common         60851C107       4,788,949        290,768     X
Orthovita                              Common         68750U102       7,395,000      1,700,000     X
Quintiles Transnational                Common         748767100       1,850,090        152,900     X
Rigel Pharmaceuticals                  Common         766559108       1,119,975      1,027,500     X
Telik                                  Common         87959M109       7,773,313        666,665     X
Transkaryotic Therapies                Common         893735100       3,787,245        382,550     X
Tularik                                Common         899165104       3,024,321        405,405     X
Versicor                               Common         925314106       7,519,993        696,941     X
Vertex Pharmaceuticals                 Common         92532F100       3,006,745        189,700     X
WebMD                                  Common         94769M105       6,476,625        757,500     X

COLUMN TOTALS                                                      $205,316,230



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                                                                 Item 8:
Item 1:                                Item 7:          Voting Authority (Shares)
Name of Issuer                        Managers     --------------------------------
                                    See Instr. V   (a) Sole  (b) Shared   (c) None
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Abgenix                                  NA           X
Adolor                                   NA           X
Aradigm                                  NA           X
Biofield                                 NA           X
Biofield (Restricted)                    NA           X
Biopure                                  NA           X
BioTransplant                            NA           X
Catalytica Energy Systems                NA           X
Celgene                                  NA           X
Corixa                                   NA           X
Cubist Pharmaceuticals                   NA           X
CV Therapeutics                          NA           X
Cytyc                                    NA           X
deCODE Genetics                          NA           X
Digene                                   NA           X
Dyax                                     NA           X
Endocardial Solutions                    NA           X
Endologix                                NA           X
Envirogen                                NA           X
EP MedSystems                            NA           X
Exelixis                                 NA           X
Genzyme                                  NA           X
Gilead Sciences                          NA           X
IDEXX Laboratories                       NA           X
Impax Laboratories                       NA           X
IVAX                                     NA           X
Kosan                                    NA           X
Lexicon Genetics                         NA           X
Lynx Therapeutics                        NA           X
Martek Biosciences                       NA           X
MedImmune                                NA           X
Molecular Devices                        NA           X
Orthovita                                NA           X
Quintiles Transnational                  NA           X
Rigel Pharmaceuticals                    NA           X
Telik                                    NA           X
Transkaryotic Therapies                  NA           X
Tularik                                  NA           X
Versicor                                 NA           X
Vertex Pharmaceuticals                   NA           X
WebMD                                    NA           X

COLUMN TOTALS