FIRSTHAND FUNDS
NSAR-B, 1999-03-01
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<PAGE>      PAGE  1
000 B000000 12/31/98
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007 C020200 THE MEDICAL SPECIALISTS FUND
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007 C010300  3
007 C020300 THE TECHNOLOGY LEADERS FUND
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<PAGE>      PAGE  2
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014 A00AA03 CHARLES SCHWAB & CO., INC.
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<PAGE>      PAGE  8
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<PAGE>      PAGE  14
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SIGNATURE   JOHN F. SPLAIN                               
TITLE       SECRETARY           
 


<TABLE> <S> <C>

<ARTICLE> 6
<SERIES> 
   <NUMBER> 1
   <NAME> FIRSTHAND FUNDS - THE TECHNOLOGY VALUE FUND
        
<S>                             <C>
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<PERIOD-END>                               DEC-31-1998
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<INVESTMENTS-AT-VALUE>                     174,059,786
<RECEIVABLES>                                7,342,563
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             181,402,349
<PAYABLE-FOR-SECURITIES>                        13,015
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    3,258,237
<TOTAL-LIABILITIES>                          3,271,252
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   177,982,982
<SHARES-COMMON-STOCK>                        5,524,987
<SHARES-COMMON-PRIOR>                        7,458,967
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     (4,172,974)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     4,321,089 
<NET-ASSETS>                               178,131,097
<DIVIDEND-INCOME>                               18,678
<INTEREST-INCOME>                              251,377
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               3,550,915
<NET-INVESTMENT-INCOME>                     (3,280,860)
<REALIZED-GAINS-CURRENT>                    (1,125,096)
<APPREC-INCREASE-CURRENT>                   40,388,492
<NET-CHANGE-FROM-OPS>                       35,982,536
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      5,313,423
<NUMBER-OF-SHARES-REDEEMED>                  7,247,403
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                     (16,242,446)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                   3,047,878
<GROSS-ADVISORY-FEES>                        2,734,532
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              3,550,915
<AVERAGE-NET-ASSETS>                       182,257,604           
<PER-SHARE-NAV-BEGIN>                            26.06
<PER-SHARE-NII>                                   (.59)
<PER-SHARE-GAIN-APPREC>                           6.77
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              32.24
<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>                 12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                        4,086,013
<INVESTMENTS-AT-VALUE>                       4,469,101
<RECEIVABLES>                                  441,203
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               4,910,304
<PAYABLE-FOR-SECURITIES>                       402,737
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       17,649
<TOTAL-LIABILITIES>                            420,386
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     4,573,655
<SHARES-COMMON-STOCK>                          465,004
<SHARES-COMMON-PRIOR>                          233,313
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (466,825)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       383,088
<NET-ASSETS>                                 4,489,918
<DIVIDEND-INCOME>                                7,871
<INTEREST-INCOME>                               13,417
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  66,764
<NET-INVESTMENT-INCOME>                        (45,476)
<REALIZED-GAINS-CURRENT>                      (466,825)
<APPREC-INCREASE-CURRENT>                      347,325
<NET-CHANGE-FROM-OPS>                         (164,976)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        1,557
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        551,990
<NUMBER-OF-SHARES-REDEEMED>                    320,299
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       2,127,708
<ACCUMULATED-NII-PRIOR>                          1,557
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           51,357
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 66,764
<AVERAGE-NET-ASSETS>                         3,429,605
<PER-SHARE-NAV-BEGIN>                            10.12
<PER-SHARE-NII>                                   (.10)
<PER-SHARE-GAIN-APPREC>                           (.36)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.66
<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>                 12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                       39,163,880
<INVESTMENTS-AT-VALUE>                      50,280,606
<RECEIVABLES>                                  472,927
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              50,753,533
<PAYABLE-FOR-SECURITIES>                     6,722,838
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,195,974
<TOTAL-LIABILITIES>                          7,918,812
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    31,012,265
<SHARES-COMMON-STOCK>                        2,387,362
<SHARES-COMMON-PRIOR>                          355,432
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        705,730
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    11,116,726
<NET-ASSETS>                                42,834,721
<DIVIDEND-INCOME>                               23,456
<INTEREST-INCOME>                              151,801
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 372,754
<NET-INVESTMENT-INCOME>                       (197,497)
<REALIZED-GAINS-CURRENT>                       903,227
<APPREC-INCREASE-CURRENT>                   11,093,756
<NET-CHANGE-FROM-OPS>                       11,799,486
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        2,257
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      3,830,812
<NUMBER-OF-SHARES-REDEEMED>                  1,798,882
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                      39,253,891
<ACCUMULATED-NII-PRIOR>                          2,257
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          286,734
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                372,754
<AVERAGE-NET-ASSETS>                        19,223,135         
<PER-SHARE-NAV-BEGIN>                            10.07
<PER-SHARE-NII>                                   (.09)
<PER-SHARE-GAIN-APPREC>                           7.96
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              17.94
<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>                  8-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                        6,439,073
<INVESTMENTS-AT-VALUE>                       7,402,119
<RECEIVABLES>                                   17,767
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               7,419,886
<PAYABLE-FOR-SECURITIES>                       711,460
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      219,327
<TOTAL-LIABILITIES>                            930,787
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     5,381,596
<SHARES-COMMON-STOCK>                          405,301
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        144,457
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       963,046
<NET-ASSETS>                                 6,489,099
<DIVIDEND-INCOME>                               11,088
<INTEREST-INCOME>                                2,164
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  19,217
<NET-INVESTMENT-INCOME>                         (5,965)
<REALIZED-GAINS-CURRENT>                       150,422
<APPREC-INCREASE-CURRENT>                      963,046
<NET-CHANGE-FROM-OPS>                        1,107,503
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        649,555
<NUMBER-OF-SHARES-REDEEMED>                    244,254
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       6,489,099
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           14,782
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 19,217
<AVERAGE-NET-ASSETS>                         1,620,278        
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                   (.01)
<PER-SHARE-GAIN-APPREC>                           6.02
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              16.01
<EXPENSE-RATIO>                                   1.92
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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