X0204 3 2011-12-13 1 0000805267 H&Q HEALTHCARE INVESTORS HQH 0001219016 BONNEY MICHAEL W HAMBRECHT & QUIST CAPITAL MANAGEMENT LLC 2 LIBERTY SQUARE, 9TH FLOOR BOSTON MA 02109 1 0 0 0 /s/ Michael W. Bonney 2011-12-15