FIRSTHAND FUNDS
NSAR-A, 1998-08-27
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<PAGE>      PAGE  1
000 A000000 06/30/98
000 C000000 0000917124
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FIRSTHAND FUNDS
001 B000000 811-8268
001 C000000 4082942200
002 A000000 101 PARK CENTER PLAZA, SUITE 1300
002 B000000 SAN JOSE
002 C000000 CA
002 D010000 95113
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 THE TECHNOLOGY VALUE FUND
007 C030100 N
007 C010200  2
007 C020200 THE MEDICAL SPECIALISTS FUND
007 C030200 N
007 C010300  3
007 C020300 THE TECHNOLOGY LEADERS FUND
007 C030300 N
007 C010400  4
007 C020400 THE TECHNOLOGY INNOVATORS FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 INTERACTIVE RESEARCH ADVISORS, INC.
008 B00AA01 A
008 C00AA01 801-45534
008 D01AA01 SAN JOSE
008 D02AA01 CA
008 D03AA01 95113
010 A00AA01 INTERACTIVE RESEARCH ADVISORS, INC.
010 B00AA01 84-5504
010 C01AA01 SAN JOSE
010 C02AA01 CA
010 C03AA01 95113
<PAGE>      PAGE  2
010 A00AA02 COUNTRYWIDE FUND SERVICES, INC.
010 B00AA02 84-1093
010 C01AA02 CINCINNATI
010 C02AA02 OH
010 C03AA02 45202
010 C04AA02 4094
011 A00AA01 CW FUND DISTRIBUTORS, INC.
011 B00AA01 8-40907
011 C01AA01 CINCINNATI
011 C02AA01 OH
011 C03AA01 45202
011 C04AA01 4094
012 A00AA01 COUNTRYWIDE FUND SERVICES, INC.
012 B00AA01 84-1093
012 C01AA01 CINCINNATI
012 C02AA01 OH
012 C03AA01 45202
012 C04AA01 4094
013 A00AA01 TAIT, WELLER & BAKER
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
015 A00AA01 STAR BANK, N.A.
015 B00AA01 C
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015 C02AA01 OH
015 C03AA01 45201
015 C04AA01 1118
015 E01AA01 X
015 A00AA02 BANKERS TRUST COMPANY
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015 C01AA02 NEW YORK
015 C02AA02 NY
015 C03AA02 10015
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020 A000002 VOLPE BROWN WHELAN & COMPANY, LLC
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020 A000003 JEFFERIES & COMPANY, INC.
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020 A000004 GOLDMAN, SACHS & CO.
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020 A000005 INSTINET CORPORATION
<PAGE>      PAGE  3
020 B000005 13-3443395
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022 A000006 BEAR, STEARNS  & CO. INC.
022 B000006 13-3299429
022 C000006        41
022 D000006     13092
022 A000007 JEFFERIES & COMPANY, INC.
022 B000007 95-2622900
022 C000007       446
022 D000007     10649
022 A000008 TROSTER SINGER
022 B000008 13-5515160
022 C000008      1561
022 D000008      4596
022 A000009 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000009 13-5674085
022 C000009      1975
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022 A000010 SMITH BARNEY INC.
022 B000010 13-1912900
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<PAGE>      PAGE  4
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014 A000101 DONALDSON, LUFKIN & JENRETTE SECURITES CORP.
014 B000101 8-17574
014 A000102 NATIONAL FINANCIAL SERVICES CORPORATION
014 B000102 8-26740
014 A000103 CHARLES SCHWAB & CO., INC.
014 B000103 8-16514
<PAGE>      PAGE  7
014 A000104 COUNTRYWIDE INVESTMENTS, INC.
014 B000104 8-24674
014 A000105 CW FUND DISTRIBUTORS, INC.
014 B000105 8-40907
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<PAGE>      PAGE  8
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014 B000201 8-17574
014 A000202 NATIONAL FINANCIAL SERVICES CORPORATION
014 B000202 8-26740
014 A000203 CHARLES SCHWAB & CO., INC.
014 B000203 8-16514
<PAGE>      PAGE  10
014 A000204 COUNTRYWIDE INVESTMENTS, INC.
014 B000204 8-24674
014 A000205 CW FUND DISTRIBUTORS, INC.
014 B000205 8-40907
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<PAGE>      PAGE  11
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014 A000301 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
014 B000301 8-17574
014 A000302 NATIONAL FINANCIAL SERVICES CORPORATION
014 B000302 8-26740
014 A000303 CHARLES SCHWAB & CO., INC.
014 B000303 8-16514
<PAGE>      PAGE  13
014 A000304 COUNTYWIDE INVESTMENTS, INC.
014 B000304 8-24674
014 A000305 CW FUND DISTRIBUTORS, INC.
014 B000305 8-40907
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<PAGE>      PAGE  14
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014 A000401 DONALDSON, LUFKIN & JENRETTE SECURITES CORP.
014 B000401 8-17574
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
070 J010400 Y
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075 B000400      651
076  000400     0.00
SIGNATURE   JOHN F. SPLAIN                               
TITLE       SECRETARY           
 


<TABLE> <S> <C>

<ARTICLE> 6
<SERIES> 
   <NUMBER> 1
   <NAME> FIRSTHAND FUNDS - THE TECHNOLOGY VALUE FUND
        
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                      219,159,351
<INVESTMENTS-AT-VALUE>                     195,708,985
<RECEIVABLES>                                  583,686
<ASSETS-OTHER>                                   9,945
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             196,302,616
<PAYABLE-FOR-SECURITIES>                     1,600,112
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,034,127
<TOTAL-LIABILITIES>                          2,634,239
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   214,017,894
<SHARES-COMMON-STOCK>                        6,785,124
<SHARES-COMMON-PRIOR>                        7,458,967
<ACCUMULATED-NII-CURRENT>                   (1,919,874)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      5,020,723
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                   (23,450,366)
<NET-ASSETS>                               193,668,377
<DIVIDEND-INCOME>                               17,628
<INTEREST-INCOME>                              123,130
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               2,060,632
<NET-INVESTMENT-INCOME>                     (1,919,874)
<REALIZED-GAINS-CURRENT>                     8,068,601
<APPREC-INCREASE-CURRENT>                   12,617,037
<NET-CHANGE-FROM-OPS>                       18,765,764
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      2,493,990
<NUMBER-OF-SHARES-REDEEMED>                  3,167,833
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                        (705,166)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                   3,047,878
<GROSS-ADVISORY-FEES>                        1,588,162
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              2,060,632
<AVERAGE-NET-ASSETS>                       213,505,816
<PER-SHARE-NAV-BEGIN>                            26.06
<PER-SHARE-NII>                                   (.28)
<PER-SHARE-GAIN-APPREC>                           2.76
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              28.54
<EXPENSE-RATIO>                                   1.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES> 
   <NUMBER> 2
   <NAME> FIRSTHAND FUNDS - THE MEDICAL SPECIALISTS FUND
        
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                        3,709,826
<INVESTMENTS-AT-VALUE>                       3,194,875
<RECEIVABLES>                                  192,993
<ASSETS-OTHER>                                   1,367
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               3,389,235
<PAYABLE-FOR-SECURITIES>                        69,841
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          296
<TOTAL-LIABILITIES>                             70,137
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     3,960,327
<SHARES-COMMON-STOCK>                          388,701
<SHARES-COMMON-PRIOR>                          233,313
<ACCUMULATED-NII-CURRENT>                      (18,468)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (107,810)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      (514,951)
<NET-ASSETS>                                 3,319,098
<DIVIDEND-INCOME>                                   25
<INTEREST-INCOME>                               14,610
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  34,660
<NET-INVESTMENT-INCOME>                        (20,025)
<REALIZED-GAINS-CURRENT>                      (107,810)
<APPREC-INCREASE-CURRENT>                     (550,714)
<NET-CHANGE-FROM-OPS>                         (678,549)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        360,372
<NUMBER-OF-SHARES-REDEEMED>                    204,984
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         956,888
<ACCUMULATED-NII-PRIOR>                          1,557
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           26,661
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 34,660
<AVERAGE-NET-ASSETS>                         3,589,584
<PER-SHARE-NAV-BEGIN>                            10.12
<PER-SHARE-NII>                                   (.05)
<PER-SHARE-GAIN-APPREC>                          (1.53)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.54
<EXPENSE-RATIO>                                   1.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 3
   <NAME> FIRSTHAND FUNDS - THE TECHNOLOGY LEADERS FUND
        
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                       19,160,146
<INVESTMENTS-AT-VALUE>                      21,238,405
<RECEIVABLES>                                   98,452
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              21,336,857
<PAYABLE-FOR-SECURITIES>                     2,206,955
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       15,473
<TOTAL-LIABILITIES>                          2,222,428
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    16,826,308
<SHARES-COMMON-STOCK>                        1,479,379
<SHARES-COMMON-PRIOR>                          355,432
<ACCUMULATED-NII-CURRENT>                      (43,686)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        253,548
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     2,078,259
<NET-ASSETS>                                19,114,429
<DIVIDEND-INCOME>                                7,832
<INTEREST-INCOME>                               70,812
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 124,587
<NET-INVESTMENT-INCOME>                        (45,943)
<REALIZED-GAINS-CURRENT>                       253,548
<APPREC-INCREASE-CURRENT>                    2,055,289
<NET-CHANGE-FROM-OPS>                        2,262,894
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,502,614
<NUMBER-OF-SHARES-REDEEMED>                    378,667
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                      15,533,599
<ACCUMULATED-NII-PRIOR>                          2,257
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           95,836
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                124,587
<AVERAGE-NET-ASSETS>                        12,969,844
<PER-SHARE-NAV-BEGIN>                            10.07
<PER-SHARE-NII>                                   (.04)
<PER-SHARE-GAIN-APPREC>                           2.89
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.92
<EXPENSE-RATIO>                                   1.94
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 4
   <NAME> FIRSTHAND FUNDS - THE TECHNOLOGY INNOVATORS FUND
        
<S>                             <C>
<PERIOD-TYPE>                  2-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                        1,087,225
<INVESTMENTS-AT-VALUE>                       1,135,194
<RECEIVABLES>                                   15,060
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               1,150,254
<PAYABLE-FOR-SECURITIES>                       108,246
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        3,960
<TOTAL-LIABILITIES>                            112,206
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       959,534
<SHARES-COMMON-STOCK>                           94,149
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                          438
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         30,107
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        47,969
<NET-ASSETS>                                 1,038,048
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                1,843
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   1,405
<NET-INVESTMENT-INCOME>                            438
<REALIZED-GAINS-CURRENT>                        30,107
<APPREC-INCREASE-CURRENT>                       47,969
<NET-CHANGE-FROM-OPS>                           78,514
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         94,348
<NUMBER-OF-SHARES-REDEEMED>                        199
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       1,038,048
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            1,081
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  1,405
<AVERAGE-NET-ASSETS>                           650,935
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                           1.03
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.03
<EXPENSE-RATIO>                                   1.88
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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