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
Alcatel-Lucent SPONSORED ADR 013904305 72 19,700 SH   OTR 1, 2 0 19,700 0
Allergan PLC SHS G0177J108 544 2,000 SH   OTR 1, 2 0 2,000 0
Altera Corp COM 021441100 4,182 83,500 SH   OTR 1, 2 0 83,500 0
Apple Inc COM 037833100 463 4,200 SH   OTR 1, 2 0 4,200 0
Ariad Pharmaceuticals Inc COM 04033A100 117 20,000 SH   OTR 1, 2 0 20,000 0
AT&T Ince COM 00206R102 554 17,000 SH   OTR 1, 2 0 17,000 0
Atmel Corp COM 049513104 888 110,000 SH   OTR 1, 2 0 110,000 0
Baker Hughes Inc PUT 057224957 260 5,000 SH Put OTR 1, 2 0 5,000 0
Barnes & Noble Inc. COM 067774109 230 19,000 SH   OTR 1, 2 0 19,000 0
Barnes and Noble Education COM 06777u101 181 14,270 SH   OTR 1, 2 0 14,270 0
Baxalta Inc COM 07177m103 1,103 35,000 SH   OTR 1, 2 0 35,000 0
Baxalta Inc PUT 07177M953 630 20,000 SH Put OTR 1, 2 0 20,000 0
Biogen Idec COM 09062X103 292 1,000 SH   OTR 1, 2 0 1,000 0
Blackberry Ltd COM 09228F103 66 10,800 SH   OTR 1, 2 0 10,800 0
Blyth Inc. COM NEW 09643P207 60 10,000 SH   OTR 1, 2 0 10,000 0
Broadcom Corp CL A 111320107 1,995 38,800 SH   OTR 1, 2 0 38,800 0
Cablevision Sys Corp CL A NY CABLVS 12686C109 406 12,500 SH   OTR 1, 2 0 12,500 0
Cameron International COM 13342b105 2,054 33,500 SH   OTR 1, 2 0 33,500 0
CenturyLink Inc COM 156700106 315 12,540 SH   OTR 1, 2 0 12,540 0
Chubb COM 171232101 3,128 25,500 SH   OTR 1, 2 0 25,500 0
Cigna Corporation COM 125509109 2,376 17,600 SH   OTR 1, 2 0 17,600 0
Cigna Corporation PUT 125509959 270 2,000 SH Put OTR 1, 2 0 2,000 0
City National Corp COM 178566105 2,378 27,000 SH   OTR 1, 2 0 27,000 0
Community Helath CVR RIGHT 99/99/9999 203668116 1 160,000 SH   OTR 1, 2 0 160,000 0
Con-Way Inc COM 205944101 546 11,500 SH   OTR 1, 2 0 11,500 0
Depomed COM 249908104 2,501 132,700 SH   OTR 1, 2 0 132,700 0
Depomed PUT 249908954 737 39,100 SH Put OTR 1, 2 0 39,100 0
Dollar Tree Stores COM 256746108 433 6,500 SH   OTR 1, 2 0 6,500 0
Dot Hill Systems COM 25848t109 389 40,000 SH   OTR 1, 2 0 40,000 0
Equity Commonwealth COM SH BEN INT 294628102 409 15,000 SH   OTR 1, 2 0 15,000 0
Foundation Medicine Inc COM 350465100 282 15,300 SH   OTR 1, 2 0 15,300 0
Foundation Medicine Inc PUT 350465950 92 5,000 SH Put OTR 1, 2 0 5,000 0
HCC Ins. Hold. COM 404132102 2,014 26,000 SH   OTR 1, 2 0 26,000 0
Health Net Inc COM 42222g108 1,632 27,100 SH   OTR 1, 2 0 27,100 0
Horizon Pharma PUT G4617B955 396 20,000 SH Put OTR 1, 2 0 20,000 0
Humana Inc. COM 444859102 2,874 16,055 SH   OTR 1, 2 0 16,055 0
IPC Healthcare Inc COM 44984a105 971 12,500 SH   OTR 1, 2 0 12,500 0
IPC Healthcare Inc PUT 44984A955 622 8,000 SH Put OTR 1, 2 0 8,000 0
Ishares Nasdaq Biotech Indx NASDQ BIOTEC ETF 464287556 607 2,000 SH   OTR 1, 2 0 2,000 0
Kraft Foods Group COM 50076Q106 282 4,000 SH   OTR 1, 2 0 4,000 0
Kythera Biopharma COM 501570105 8,542 113,923 SH   OTR 1, 2 0 113,923 0
Lamar Advertising Co. CL A 512816109 600 11,500 SH   OTR 1, 2 0 11,500 0
Media General COM 58441k100 839 60,000 SH   OTR 1, 2 0 60,000 0
Men's Wearhouse Inc COM 587118100 357 8,386 SH   OTR 1, 2 0 8,386 0
Mylan N V SHS EURO N59465109 2,818 70,000 SH   OTR 1, 2 0 70,000 0
Mylan N V CALL N59465909 403 10,000 SH Call OTR 1, 2 0 10,000 0
Mylan N V PUT N59465959 3,462 86,000 SH Put OTR 1, 2 0 86,000 0
National Penn Bancshares, Inc COM 637138108 588 50,000 SH   OTR 1, 2 0 50,000 0
NCR Corp. COM 62886E108 243 10,700 SH   OTR 1, 2 0 10,700 0
Packaging Corp of America COM 695156109 277 4,600 SH   OTR 1, 2 0 4,600 0
Partnerre Ltd COM G6852T105 2,778 20,000 SH   OTR 1, 2 0 20,000 0
Pepco Holdings, Inc COM 713291102 264 10,900 SH   OTR 1, 2 0 10,900 0
Pepco Holdings, Inc PUT 713291952 242 10,000 SH Put OTR 1, 2 0 10,000 0
Perkinelmer COM 714046109 202 4,400 SH   OTR 1, 2 0 4,400 0
Perrigo Inc SHS G97822103 8,021 51,000 SH   OTR 1, 2 0 51,000 0
Pinnacle Entertainment COM 723456109 569 16,800 SH   OTR 1, 2 0 16,800 0
Precision Castparts Corp COM 740189105 4,939 21,500 SH   OTR 1, 2 0 21,500 0
Remy International COM 75971m108 1,229 42,000 SH Call OTR 1, 2 0 42,000 0
Rentech Inc CALL 760112901 118 10,000 SH   OTR 1, 2 0 10,000 0
Reynolds American Inc COM 761713106 266 6,000 SH   OTR 1, 2 0 6,000 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 6,707 35,000 SH   OTR 1, 2 0 35,000 0
SPDR S&P 500 ETF TR CALL 78462F903 1,916 10,000 SH Call OTR 1, 2 0 10,000 0
SPDR S&P 500 ETF TR PUT 78462F953 1,916 10,000 SH Put OTR 1, 2 0 10,000 0
Scripps Networks Interactive CL A COM 811065101 207 4,200 SH   OTR 1, 2 0 4,200 0
Shire Pharmaceuticals SPONSORED ADR 82481R106 205 1,000 SH   OTR 1, 2 0 1,000 0
Sigma-Aldrich Corp COM 826552101 4,029 29,000 SH   OTR 1, 2 0 29,000 0
Signet Jewelers Limited SHS G81276100 272 2,000 SH   OTR 1, 2 0 2,000 0
Solera Holdings COM 83421a104 2,700 50,000 SH   OTR 1, 2 0 50,000 0
St Jude Med Inc PUT 790849953 315 5,000 SH Put OTR 1, 2 0 5,000 0
Stancorp Financial Group COM 852891100 2,113 18,500 SH   OTR 1, 2 0 18,500 0
Symetra Financial COM 87151q106 538 17,000 SH   OTR 1, 2 0 17,000 0
Synchronoss Technologies Inc PUT 87157B953 131 4,000 SH Put OTR 1, 2 0 4,000 0
Synergetics USA Inc COM 87160G107 197 30,000 SH   OTR 1, 2 0 30,000 0
Tegna Inc COM 87901J105 224 10,000 SH   OTR 1, 2 0 10,000 0
Teva Pharmaceutical Inds Ltd CALL 881624909 282 5,000 SH Call OTR 1, 2 0 5,000 0
Thoratec Labs COM NEW 885175307 3,062 48,400 SH   OTR 1, 2 0 48,400 0
Time Warner Cable Inc COM 88732J207 3,587 20,000 SH   OTR 1, 2 0 20,000 0
T-Mobile US Inc COM 872590104 573 14,400 SH   OTR 1, 2 0 14,400 0
Tower Watson & Co CL A 891894107 376 3,200 SH   OTR 1, 2 0 3,200 0
William Cos Inc DEL COM 969457100 1,743 47,300 SH   OTR 1, 2 0 47,300 0
Xoom Corp COM 98419q101 4,031 162,000 SH   OTR 1, 2 0 162,000 0
Zoetis Inc CL A 98978V103 589 14,300 SH   OTR 1, 2 0 14,300 0
Zoetis Inc PUT 98978V953 412 10,000 SH Put OTR 1, 2 0 10,000 0
Zulily Inc CLass A CL A 989774104 435 25,000 SH   OTR 1, 2 0 25,000 0