as of 6/30/01                                                  FORM 13F
                                                                                                                     (SEC USE ONLY)
Page     of                                                        Name of Reporting Manager:  HAMBRECHT & QUIST CAPITAL MANAGEMENT
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                                                                                      Item 5:                  Item 6:
              Item 1:                  Item 2:            Item 3:       Item 4:      Shares of          Investment Discretion
          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
------------------------------------------------------------------------------------------------------------------------------------
                                                                                       
Affymetrix                          Common               00826T108     2,205,000      100,000         X
Aradigm                             Common               038505103     2,450,000      350,000         X
ATS Medical                         Common               002083103     9,583,642      636,364         X
Biofield                            Common               090591207       316,356      878,766         X
Biofield (Restricted)               Common               090591207       288,000    1,000,000         X
Bioject Medical Technologies        Common               09059T206     2,810,780      238,000         X
Biopure                             Common               09065H915     4,476,202      169,746         X
BioTransplant                       Common               09066Y107     5,522,015      712,518         X
Biovail                             Common               09067K106    24,853,638      571,348         X
Calypte Biomedical                  Common               131722100       459,477    1,093,993         X
Catalytica Energy Systems           Common               148884109     2,788,775      128,515         X
Celgene                             Common               151020104    19,906,500      690,000         X
Cor Therapeutics                    Common               217753102     9,150,000      300,000         X
Corixa                              Common               21887F100     6,682,222      391,460         X
Cubist Pharmaceuticals              Common               229990981    36,404,190      958,005         X
Curis                               Common               231269101     2,149,710      340,684         X
CV Therapeutics                     Common               126667104    31,139,499      546,307         X
Cytyc                               Common               232946103    10,010,293      434,286         X
Digene                              Common               253752109     9,384,000      230,000         X
Dyax                                Common               26746E103    10,388,535      546,765         X
Emisphere Technologies              Common               291345106     4,389,570      151,000         X
Endocardial Solutions (Restricted)  Common               292962107     9,583,330    1,666,666         X
Envirogen                           Common               294040100        22,812       20,833         X
EP Med Systems                      Common               26881P103     2,795,000    1,075,000         X
Exelixis                            Common               30161Q104     4,249,280      224,000         X
Focal                               Common               343909107       331,812      271,977         X
Genzyme                             Common               372917104    16,419,000      269,000         X
Genzyme Biosurgery                  Common               372917708       955,574      115,547         X
Gilead Sciences                     Common               37555B103    41,507,974      713,318         X
IDEXX Laboratories                  Common               45168D104     7,812,500      250,000         X
ImClone Systems                     Common               45245W109     4,488,000       85,000         X
KeraVision                          Common               648990992         6,186      206,185         X
Lynx Therapeutics                   Common               551812308     2,565,000      375,000         X
Martek Biosciences                  Common               572901106    22,236,385      780,224         X
MedImmune                           Common               584699102    15,576,000      330,000         X
Molecular Devices                   Common               60851C107     5,829,898      290,768         X
Orthovita (Restricted)              Common               68750U102     5,936,400    1,700,000         X
Quintiles Transnational             Common               748767100     3,860,725      152,900         X
Radiance Medical Systems            Common               750241101     1,742,400      330,000         X
Scios                               Common               808905103    13,943,075      557,500         X
Sepracor                            Common               817315104    14,214,092      357,138         X
Telik                               Common               87959M109     6,566,650      666,665         X
Teva Pharmaceutical Industries      Common               881624209     6,230,000      100,000         X
Transkaryotic Therapies             Common               893735100    11,266,097      382,550         X
Tularik                             Common               899165104    10,471,611      405,405         X
Verdant Brands                      Common               923366108           228       38,000         X
Versicor                            Common               925314106     9,405,000      750,000         X
Versicor (Restricted)               Common               925314106     2,792,730      296,941         X

           COLUMN TOTALS                                             416,166,163


                                                                                       (SEC USE ONLY)
Page     of         Name of Reporting Manager:  HAMBRECHT & QUIST CAPITAL MANAGEMENT
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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
------------------------------------------------------------------------------------------------------
                                                               
Affymetrix                                NA            X
Aradigm                                   NA            X
ATS Medical                               NA            X
Biofield                                  NA            X
Biofield (Restricted)                     NA            X
Bioject Medical Technologies              NA            X
Biopure                                   NA            X
BioTransplant                             NA            X
Biovail                                   NA            X
Calypte Biomedical                        NA            X
Catalytica Energy Systems                 NA            X
Celgene                                   NA            X
Cor Therapeutics                          NA            X
Corixa                                    NA            X
Cubist Pharmaceuticals                    NA            X
Curis                                     NA            X
CV Therapeutics                           NA            X
Cytyc                                     NA            X
Digene                                    NA            X
Dyax                                      NA            X
Emisphere Technologies                    NA            X
Endocardial Solutions (Restricted)        NA            X
Envirogen                                 NA            X
EP Med Systems                            NA            X
Exelixis                                  NA            X
Focal                                     NA            X
Genzyme                                   NA            X
Genzyme Biosurgery                        NA            X
Gilead Sciences                           NA            X
IDEXX Laboratories                        NA            X
ImClone Systems                           NA            X
KeraVision                                NA            X
Lynx Therapeutics                         NA            X
Martek Biosciences                        NA            X
MedImmune                                 NA            X
Molecular Devices                         NA            X
Orthovita (Restricted)                    NA            X
Quintiles Transnational                   NA            X
Radiance Medical Systems                  NA            X
Scios                                     NA            X
Sepracor                                  NA            X
Telik                                     NA            X
Teva Pharmaceutical Industries            NA            X
Transkaryotic Therapies                   NA            X
Tularik                                   NA            X
Verdant Brands                            NA            X
Versicor                                  NA            X
Versicor (Restricted)                     NA            X

           COLUMN TOTALS