as of 9/30/03 FORM 13F
Name of Reporting Manager: HAMBRECHT & QUIST CAPITAL MANAGEMENT LLC (SEC USE ONLY)
Page 1 of 2
ITEM 6:
INVESTMENT DISCRETION
-----------------------
(B) ITEM 8:
SHARED- VOTING AUTHORITY
ITEM 2: ITEM 5: AS ITEM 7: (SHARES)
ITEM 1: TITLE ITEM 3: ITEM 4: SHARES OF DEFINED (C) MANAGERS ------------------
NAME OF ISSUER OF CUSIP FAIR MARKET PRINCIPAL (A) IN SHARED- SEE (A) (B) (C)
CLASS NUMBER VALUE AMOUNT SOLE INSTR. V OTHER INSTR. V SOLE SHARED NONE
aaiPharma Common 0252W104 $3,849,750 225,000 X NA X
Adolor Common 00724X102 9,507,135 518,100 X NA X
Amgen Common 31162100 8,716,950 135,000 X NA X
Aradigm Common 038505103 626,500 350,000 X NA X
Biofield Common 090591207 166,984 878,866 X NA X
Biofield (Restricted) Common 090591207 160,000 1,000,000 X NA X
Biopure Common 09065H915 1,098,257 169,746 X NA X
Celgene Common 151020104 14,940,184 344,800 X NA X
Charles River Labs Common 159864107 4,361,049 142,100 X NA X
Corixa Common 21887F100 5,704,112 716,597 X NA X
Cubist Pharmaceuticals Common 229990981 14,888,463 1,379,839 X NA X
CV Therapeutics Common 126667104 12,018,754 546,307 X NA X
deCODE Genetics Common 24386104 7,324,050 1,555,000 X NA X
DepoMed Common 249908104 8,819,439 1,388,888 X NA X
Durect Common 266605104 2,979,648 886,800 X NA X
Dyax Common 26746E103 4,262,787 694,265 X NA X
Encysive Pharmaceuticals Common 29256X107 2,609,185 413,500 X NA X
Endocardial Solutions Common 292962107 8,333,330 1,666,666 X NA X
Enzon Pharmaceuticals Common 293904108 5,982,960 514,000 X NA X
EP MedSystems Common 26881P103 4,297,750 1,075,000 X NA X
Exelixis Common 30161Q104 8,725,080 1,222,000 X NA X
Genzyme Common 372917104 9,157,500 198,000 X NA X
Gilead Sciences Common 37555B103 20,302,590 363,000 X NA X
IDEXX Laboratories Common 45168D104 14,701,540 346,000 X NA X
Impax Laboratories Common 45256B101 14,716,339 1,176,366 X NA X
IVAX Common 465823102 10,670,240 544,400 X NA X
Kosan Biosciences Common 50064W107 6,083,828 764,300 X NA X
Lexicon Genetics Common 5288872104 4,360,200 845,000 X NA X
Lynx Therapeutics Common 551812308 1,446,207 283,570 X NA X
MedImmune Common 584699102 14,722,460 446,000 X NA X
Neurocrine Biosciences Common 64125C109 7,690,456 155,300 X NA X
Orthovita Common 68750U102 6,630,000 1,700,000 X NA X
Pfizer Common 717081103 13,519,100 445,000 X NA X
Pozen Common 73941U102 5,334,000 300,000 X NA X
Rigel Pharmaceuticals Common 766559108 2,385,087 165,631 X NA X
Sontra Medical (Restricted) Common 83568W109 707,328 577,883 X NA X
Sontra Medical Common 83568W109 864,173 564,819 X NA X
Telik Common 87959M109 14,168,633 706,665 X NA X
Teva Pharmaceutical Industries Common 881624209 5,915,025 103,500 X NA X
Tularik Common 899165104 3,997,293 405,405 X NA X
Vertex Pharmaceuticals Common 92532F100 2,333,310 189,700 X NA X
Vicuron Pharmaceuticals Common 925314106 12,335,856 696,941 X NA X
WebMD Common 94769M105 6,756,900 757,500 X NA X
COLUMN TOTALS $308,170,432