UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                   ----------


                                    FORM 13F-HR/A


                              FORM 13F COVER PAGE


        Report for the Calendar Year or Quarter Ended September 30, 2003

If amended report check here:    [X]                      Amendment Number: 1

This Amendment (Check only one): [X] is a restatement
                                 [_] adds new holdings entries.


                            HEWLETT-PACKARD COMPANY
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                    Name of Institutional Investment Manager


     3000 HANOVER STREET MS 1050          PALO ALTO          CA           94304
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Business Address     (Street)              (City)          (State)         (Zip)



Form 13F File Number:  28-02187

The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.


Person Signing this Report on Behalf of Reporting Manager:


                                 Vice President,
Charles N. Charnas           Deputy General Counsel                 650-857-6162
                            and Assistant Secretary
--------------------------------------------------------------------------------
Name                                (Title)                              (Phone)


                                              /s/ Charles N. Charnas
                                       -----------------------------------------
                                                  Charles N. Charnas



                                          Palo Alto, CA      November 14, 2003
                                       -----------------------------------------
                                             (Place and Date of Signing)



Report Type:

[X]       13F HOLDINGS REPORT.

[ ]       13F NOTICE.

[ ]       13F COMBINATION REPORT.


List of Other Managers Reporting for this Manager: NONE




                                     Page 1


                             FORM 13F SUMMARY PAGE



Report Summary:


Number of Other Included Managers:        0

Form 13F Information Table Entry Total:   8

Form 13F Information Table Value Total:   $70,076
                                          (thousands)


List of Other Included Managers:  NONE





















                                     Page 2



                           FORM 13F INFORMATION TABLE




FORM 13-F                             09/30/03
REPORTING MANAGER:                    HEWLETT-PACKARD COMPANY


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ITEM 1                    ITEM 2    ITEM 3       ITEM 4      ITEM 5            ITEM 6            ITEM 7            ITEM 8
                                                  FAIR                   INVESTMENT DISCRETION                 VOTING AUTHORITY
NAME OF ISSUER            TITLE                  MARKET     SHARES OR                  SHARED
                           OF        CUSIP        VALUE     PRINCIPAL    SOLE  SHARED   OTHER     MANA-    SOLE       SHARED    NONE
                          CLASS      NUMBER     (x$1000)     AMOUNT      (A)    (B)      (C)      GERS     (A)         (B)      (C)
------------------------------------------------------------------------------------------------------------------------------------
                                                                                               
Agilent Technologies .... Common    00846U101       686         31,006   X                        HP           31,006
Allscripts Health
  Solutions, Inc......... Common    01988P108     1,544        378,501   X                        HP          378,501
Altiris.................. Common    02148M100    10,488        400,000   X                        HP          400,000
CMGI Inc................. Common    125750109    37,539     24,249,767   X                        HP       24,249,767
Equinix.................. Common    29444U502       972         52,140   X                        HP           52,140
Interland ............... Common    458727203       892        116,009   X                        HP          116,009
NaviSite................. Common    63935M208    15,061      4,416,592   X                        HP        4,416,592
Novadigm Inc............. Common    669937104     2,894        940,000   X                        HP          940,000

GRAND TOTAL (Thousands):                        $70,076






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