The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AbbVie Inc. Common 00287Y109 9 156 SH   SOLE   156 0 0
ACADIA Pharmaceuticals Inc. Common 004225108 20,000 715,299 SH   SOLE   715,299 0 0
Accelerate Diagnostics, Inc. Common 00430H102 3,803 264,625 SH   SOLE   264,625 0 0
Adaptimmune Therapeutics plc Sponsored ADR 00653A107 2,414 296,934 SH   SOLE   296,934 0 0
Aegerion Pharmaceuticals, Inc. Note 2.00% 8/15/19 00767EAB8 6,606 13,000,000 PRN   SOLE   13,000,000 0 0
Affimed NV Common N01045108 1,100 294,213 SH   SOLE   294,213 0 0
Agilent Technologies, Inc. Common 00846U101 28,447 713,850 SH   SOLE   713,850 0 0
Akorn, Inc. Common 009728106 5,770 245,235 SH   SOLE   245,235 0 0
Alexion Pharmaceuticals, Inc. Common 015351109 88,656 636,805 SH   SOLE   636,805 0 0
Alkermes plc Shares G01767105 19,897 581,944 SH   SOLE   581,944 0 0
Allergan plc Shares G0177J108 109,781 409,586 SH   SOLE   409,586 0 0
Allergan plc Preferred Convertible G0177J116 4,596 5,000 SH   SOLE   5,000 0 0
Alliqua BioMedical, Inc. Common 019621200 1,353 1,650,000 SH   SOLE   1,650,000 0 0
Allscripts Healthcare Solutions, Inc. Common 01988P108 2,293 173,600 SH   SOLE   173,600 0 0
Alnylam Pharmaceuticals, Inc. Common 02043Q107 8,631 137,495 SH   SOLE   137,495 0 0
Amgen Inc. Common 031162100 48,223 321,640 SH   SOLE   321,640 0 0
Amicus Therapeutics, Inc. Common 03152W109 2,180 258,000 SH   SOLE   258,000 0 0
Anacor Pharmaceuticals, Inc. Common 032420101 5,882 110,038 SH   SOLE   110,038 0 0
ARCA biopharma, Inc. Common 00211Y407 2,783 811,227 SH   SOLE   811,227 0 0
Ardelyx, Inc. Common 039697107 10,795 1,389,370 SH   SOLE   1,389,370 0 0
AstraZeneca PLC Sponsored ADR 046353108 10,019 355,800 SH   SOLE   355,800 0 0
Auris Medical Holding AG Common H03579101 3,037 834,263 SH   SOLE   834,263 0 0
Baxter International Inc. Common 071813109 13,129 319,600 SH   SOLE   319,600 0 0
BeiGene Ltd Sponsored ADR 07725L102 3,421 116,707 SH   SOLE   116,707 0 0
Bellicum Pharmaceuticals, Inc. Common 079481107 561 60,000 SH   SOLE   60,000 0 0
Biogen Inc. Common 09062X103 117,283 450,533 SH   SOLE   450,533 0 0
BioMarin Pharmaceutical Inc. Common 09061G101 49,170 596,145 SH   SOLE   596,145 0 0
bluebird bio, Inc. Common 09609G100 2,097 49,345 SH   SOLE   49,345 0 0
Bristol-Myers Squibb Co. Common 110122108 12,942 202,600 SH   SOLE   202,600 0 0
Care Capital Properties, Inc. Common 141624106 2,263 84,316 SH   SOLE   84,316 0 0
Celator Pharmaceuticals, Inc. Common 15089R102 2,603 236,000 SH   SOLE   236,000 0 0
Celgene Corporation Common 151020104 174,881 1,747,234 SH   SOLE   1,747,234 0 0
Celldex Therapeutics, Inc. Common 15117B103 400 105,800 SH   SOLE   105,800 0 0
Cellectis S.A. Sponsored ADS 15117K103 8,532 310,250 SH   SOLE   310,250 0 0
Centene Corporation Common 15135B101 7,388 120,000 SH   SOLE   120,000 0 0
Cepheid, Inc. Common 15670R107 11,129 333,590 SH   SOLE   333,590 0 0
Cepheid, Inc. Note 1.25% 2/1/21 15670RAC1 8,906 10,000,000 PRN   SOLE   10,000,000 0 0
Chimerix, Inc. Common 16934W106 1,578 308,892 SH   SOLE   308,892 0 0
Cidara Therapeutics, Inc. Common 171757107 921 72,500 SH   SOLE   72,500 0 0
Community Health Systems, Inc. Common 203668108 5,636 304,472 SH   SOLE   304,472 0 0
Corsicanto Ltd Note 3.50% 1/15/32 220480AB3 11,714 14,700,000 PRN   SOLE   14,700,000 0 0
Cynapsus Therapeutics, Inc. Common 23257Y859 2,147 180,407 SH   SOLE   180,407 0 0
CytomX Therapeutics, Inc. Common 23284F105 4,232 328,059 SH   SOLE   328,059 0 0
DBV Technologies S.A. Sponsored ADR 23306J101 2,135 65,600 SH   SOLE   65,600 0 0
Depomed, Inc. Common 249908104 2,786 200,000 SH   SOLE   200,000 0 0
Dynavax Technologies Corporation Common 268158201 4,636 240,950 SH   SOLE   240,950 0 0
Eli Lilly & Co Common 532457108 30,040 417,167 SH   SOLE   417,167 0 0
Endo International plc Shares G30401106 8,061 286,348 SH   SOLE   286,348 0 0
Endologix Inc. Common 29266S106 4,606 551,000 SH   SOLE   551,000 0 0
Epizyme, Inc. Common 29428V104 4,848 400,000 SH   SOLE   400,000 0 0
Esperion Therapeutics, Inc. Common 29664W105 1,738 102,800 SH   SOLE   102,800 0 0
Exelixis, Inc. Common 30161Q104 5,622 1,405,420 SH   SOLE   1,405,420 0 0
Flamel Technologies SA Sponsored ADR 338488109 6,892 624,288 SH   SOLE   624,288 0 0
Flex Pharma, Inc. Common 33938A105 2,332 212,600 SH   SOLE   212,600 0 0
Foamix Pharmaceuticals Ltd. Shares M46135105 6,299 966,065 SH   SOLE   966,065 0 0
Forward Pharma A/S Sponsored ADR 34986J105 2,321 136,547 SH   SOLE   136,547 0 0
Galapagos NV Sponsored ADR 36315X101 836 20,000 SH   SOLE   20,000 0 0
GenMark Diagnostics, Inc. Common 372309104 492 93,349 SH   SOLE   93,349 0 0
Gilead Sciences, Inc. Common 375558103 214,147 2,331,231 SH   SOLE   2,331,231 0 0
GlaxoSmithKline plc Sponsored ADR 37733W105 11,557 285,000 SH   SOLE   285,000 0 0
Grifols SA Sponsored ADR 398438408 2,568 166,000 SH   SOLE   166,000 0 0
Halozyme Therapeutics, Inc. Common 40637H109 1,894 200,000 SH   SOLE   200,000 0 0
HCA Holdings, Inc. Common 40412C101 26,147 334,998 SH   SOLE   334,998 0 0
Healthcare Realty Trust, Inc. Common 421946104 5,783 187,224 SH   SOLE   187,224 0 0
Healthcare Trust of America, Inc. Common 42225P501 5,238 178,033 SH   SOLE   178,033 0 0
Heron Therapeutics, Inc. Common 427746102 4,159 219,000 SH   SOLE   219,000 0 0
Horizon Pharma plc Shares G4617B105 12,426 749,900 SH   SOLE   749,900 0 0
Humana, Inc. Common 444859102 23,655 129,300 SH   SOLE   129,300 0 0
ICON plc Shares G4705A100 8,629 114,900 SH   SOLE   114,900 0 0
IDEXX Laboratories, Inc. Common 45168D104 10,366 132,352 SH   SOLE   132,352 0 0
Illumina, Inc. Common 452327109 56,554 348,864 SH   SOLE   348,864 0 0
Immunomedics, Inc. Note 4.75% 2/15/20 452907AK4 2,810 4,000,000 PRN   SOLE   4,000,000 0 0
Impax Laboratories, Inc. Common 45256B101 3,981 124,335 SH   SOLE   124,335 0 0
Incyte Corporation Common 45337C102 69,315 956,461 SH   SOLE   956,461 0 0
Inotek Pharmaceuticals Corporation Common 45780V102 3,607 487,392 SH   SOLE   487,392 0 0
Insmed Incorporated Common 457669307 2,263 178,600 SH   SOLE   178,600 0 0
Intra-Cellular Therapies, Inc. Common 46116X101 5,221 187,800 SH   SOLE   187,800 0 0
iShares Nasdaq Biotechnology ETF ETF 464287556 15,041 57,670 SH   SOLE   57,670 0 0
Jazz Pharmaceuticals plc Shares G50871105 23,380 179,091 SH   SOLE   179,091 0 0
Johnson & Johnson Common 478160104 40,585 375,088 SH   SOLE   375,088 0 0
Juno Therapeutics, Inc. Common 48205A109 6,932 182,000 SH   SOLE   182,000 0 0
Karyopharm Therapeutics, Inc. Common 48576U106 4,463 500,324 SH   SOLE   500,324 0 0
Kite Pharma, Inc. Common 49803L109 1,882 41,000 SH   SOLE   41,000 0 0
Lexicon Pharmaceuticals, Inc. Common 528872302 2,362 197,641 SH   SOLE   197,641 0 0
LTC Properties Inc. Common 502175102 10,705 236,618 SH   SOLE   236,618 0 0
Mallinckrodt plc Shares G5785G107 13,721 223,900 SH   SOLE   223,900 0 0
McKesson Corporation Common 58155Q103 13,030 82,862 SH   SOLE   82,862 0 0
Medical Properties Trust, Inc. Common 58463J304 20,301 1,564,060 SH   SOLE   1,564,060 0 0
Medivation, Inc. Common 58501N101 30,682 667,300 SH   SOLE   667,300 0 0
Medtronic plc Shares G5960L103 41,783 557,104 SH   SOLE   557,104 0 0
Merck & Co., Inc. Common 58933Y105 36,037 681,097 SH   SOLE   681,097 0 0
Merrimack Pharmaceuticals, Inc. Note 4.50% 7/15/20 590328AA8 2,205 1,485,000 PRN   SOLE   1,485,000 0 0
Merrimack Pharmaceuticals, Inc. Common 590328100 4,770 569,894 SH   SOLE   569,894 0 0
Molina Healthcare, Inc. Common 60855R100 22,436 347,901 SH   SOLE   347,901 0 0
Momenta Pharmaceuticals, Inc. Common 60877T100 1,420 153,700 SH   SOLE   153,700 0 0
Mylan NV Shares Euro N59465109 28,642 617,952 SH   SOLE   617,952 0 0
Natera, Inc. Common 632307104 8,400 882,358 SH   SOLE   882,358 0 0
Neurocrine Biosciences, Inc. Common 64125C109 12,318 311,460 SH   SOLE   311,460 0 0
Nevro Corp. Common 64157F103 2,802 49,800 SH   SOLE   49,800 0 0
Novartis AG Sponsored ADR 66987V109 6,715 92,700 SH   SOLE   92,700 0 0
Novavax, Inc. Common 670002104 1,847 358,000 SH   SOLE   358,000 0 0
Novo Nordisk A/S ADR 670100205 15,964 294,600 SH   SOLE   294,600 0 0
Omega Healthcare Investors Inc. Common 681936100 14,583 413,116 SH   SOLE   413,116 0 0
Paratek Pharmaceuticals, Inc. Common 699374302 11,568 762,581 SH   SOLE   762,581 0 0
Perrigo Company plc Shares G97822103 4,772 37,300 SH   SOLE   37,300 0 0
Pfizer, Inc. Common 717081103 53,708 1,812,011 SH   SOLE   1,812,011 0 0
Physicians Realty Trust Common 71943U104 22,868 1,230,772 SH   SOLE   1,230,772 0 0
Pieris Pharmaceuticals, Inc. Common 720795103 7,312 3,848,191 SH   SOLE   3,848,191 0 0
Puma Biotechnology, Inc. Common 74587V107 7,642 260,200 SH   SOLE   260,200 0 0
Regeneron Pharmaceuticals, Inc. Common 75886F107 55,604 154,266 SH   SOLE   154,266 0 0
Retrophin, Inc. Common 761299106 4,507 329,949 SH   SOLE   329,949 0 0
Revance Therapeutics, Inc. Common 761330109 786 45,000 SH   SOLE   45,000 0 0
Sabra Health Care REIT Inc. Common 78573L106 9,165 456,190 SH   SOLE   456,190 0 0
Sage Therapeutics, Inc. Common 78667J108 4,706 146,800 SH   SOLE   146,800 0 0
Sagent Pharmaceuticals, Inc. Common 786692103 3,489 286,650 SH   SOLE   286,650 0 0
Sanofi Sponsored ADR 80105N105 12,249 305,000 SH   SOLE   305,000 0 0
Senior Housing Properties Trust Shares 81721M109 11,995 670,504 SH   SOLE   670,504 0 0
Shire plc Sponsored ADR 82481R106 34,674 201,713 SH   SOLE   201,713 0 0
SPDR S&P Biotech ETF S&P Biotech 78464A870 15,188 294,000 SH   SOLE   294,000 0 0
St. Jude Medical, Inc. Common 790849103 14,070 255,810 SH   SOLE   255,810 0 0
Stryker Corporation Common 863667101 13,298 123,940 SH   SOLE   123,940 0 0
Supernus Pharmaceuticals, Inc. Note 7.50% 5/1/19 868459AB4 6,026 2,000,000 PRN   SOLE   2,000,000 0 0
Tenet Healthcare Corporation Common 88033G407 4,759 164,500 SH   SOLE   164,500 0 0
Tetraphase Pharmaceuticals Inc. Common 88165N105 890 192,322 SH   SOLE   192,322 0 0
Teva Pharmaceutical Industries Ltd. ADR 881624209 35,956 671,958 SH   SOLE   671,958 0 0
The Medicines Company Common 584688105 17,932 564,438 SH   SOLE   564,438 0 0
The RMR Group Inc., Class A Common 74967R106 186 7,441 SH   SOLE   7,441 0 0
Thermo Fisher Scientific Inc. Common 883556102 12,233 86,395 SH   SOLE   86,395 0 0
Ultragenyx Pharmaceutical Inc. Common 90400D108 5,597 88,400 SH   SOLE   88,400 0 0
UniQure NV Shares N90064101 2,863 241,021 SH   SOLE   241,021 0 0
United Therapeutics Corporation Common 91307C102 10,374 93,100 SH   SOLE   93,100 0 0
UnitedHealth Group, Inc. Common 91324P102 52,733 409,100 SH   SOLE   409,100 0 0
Universal Health Services, Inc. Common 913903100 16,797 134,680 SH   SOLE   134,680 0 0
Valeant Pharmaceuticals International, Inc. Common 91911K102 4,155 158,000 SH   SOLE   158,000 0 0
Ventas, Inc. Common 92276F100 23,249 369,266 SH   SOLE   369,266 0 0
Vertex Pharmaceuticals Incorporated Common 92532F100 82,153 1,033,503 SH   SOLE   1,033,503 0 0
Welltower, Inc. Preferred 95040Q203 12,420 200,000 SH   SOLE   200,000 0 0
Xencor, Inc. Common 98401F105 268 20,000 SH   SOLE   20,000 0 0
Zafgen, Inc. Common 98885E103 89 13,307 SH   SOLE   13,307 0 0
Zimmer Biomet Holdings, Inc. Common 98956P102 10,908 102,300 SH   SOLE   102,300 0 0