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
Abbott Laboratories Common 002824100 58,301 1,378,600 SH   SOLE   1,378,600 0 0
AbbVie Inc. Common 00287Y109 10 156 SH   SOLE   156 0 0
Acadia Healthcare Company. Inc. Common 00404A109 1,744 35,200 SH   SOLE   35,200 0 0
ACADIA Pharmaceuticals Inc. Common 004225108 3,556 111,800 SH   SOLE   111,800 0 0
Accelerate Diagnostics, Inc. Common 00430H102 3,271 120,000 SH   SOLE   120,000 0 0
Adaptimmune Theraputics plc Sponsored ADR 00653A107 3,993 566,368 SH   SOLE   566,368 0 0
Aegerion Pharmaceuticals, Inc. Note 2.00% 8/15/19 00767EAB8 8,572 13,000,000 PRN   SOLE   13,000,000 0 0
Affimed NV Common N01045108 818 294,213 SH   SOLE   294,213 0 0
Agilent Technologies, Inc. Common 00846U101 21,659 459,950 SH   SOLE   459,950 0 0
Akorn, Inc. Common 009728106 3,959 145,235 SH   SOLE   145,235 0 0
Alexion Pharmaceuticals, Inc. Common 015351109 93,621 764,005 SH   SOLE   764,005 0 0
Alkermes plc Shares G01767105 27,369 581,944 SH   SOLE   581,944 0 0
Allergan plc Common G0177J108 99,974 434,086 SH   SOLE   434,086 0 0
Allergan plc Preferred Convertible G0177J116 4,108 5,000 SH   SOLE   5,000 0 0
Alliqua BioMedical, Inc. Common 019621200 1,287 1,650,000 SH   SOLE   1,650,000 0 0
Allscripts Healthcare Solutions, Inc. Common 01988P108 2,286 173,600 SH   SOLE   173,600 0 0
Alnylam Pharmaceuticals, Inc. Common 02043Q107 16,538 243,995 SH   SOLE   243,995 0 0
AmerisourceBergen Corporation Common 03073E105 26,713 330,687 SH   SOLE   330,687 0 0
Amgen Inc. Common 031162100 53,653 321,640 SH   SOLE   321,640 0 0
Amicus Therapeutics, Inc. Common 03152W109 1,909 258,000 SH   SOLE   258,000 0 0
ARCA biopharma, Inc. Common 00211Y407 2,344 811,227 SH   SOLE   811,227 0 0
Ardelyx, Inc. Common 039697107 9,157 707,636 SH   SOLE   707,636 0 0
ARIAD Pharmaceuticals, Inc. Common 04033A100 6,872 502,000 SH   SOLE   502,000 0 0
AstraZeneca PLC Sponsored ADR 046353108 15,240 463,800 SH   SOLE   463,800 0 0
Auris Medical Holding AG Common H03579101 1,340 774,504 SH   SOLE   774,504 0 0
Becton Dickinson and Company Common 075887109 11,337 63,078 SH   SOLE   63,078 0 0
BeiGene Ltd. Sponsored ADR 07725L102 3,596 116,707 SH   SOLE   116,707 0 0
Bellicum Pharmaceuticals, Inc. Common 079481107 1,194 60,000 SH   SOLE   60,000 0 0
Biogen Inc. Common 09062X103 150,891 482,033 SH   SOLE   482,033 0 0
BioMarin Pharmaceutical Inc. Common 09061G101 65,703 710,145 SH   SOLE   710,145 0 0
bluebird bio, Inc. Common 09609G100 3,345 49,345 SH   SOLE   49,345 0 0
Cardinal Health, Inc. Common 14149Y108 11,849 152,500 SH   SOLE   152,500 0 0
Celgene Corporation Common 151020104 155,132 1,484,089 SH   SOLE   1,484,089 0 0
Celldex Therapeutics, Inc. Common 15117B103 427 105,800 SH   SOLE   105,800 0 0
Cellectis S.A. Sponsored ADR 15117K103 7,471 310,250 SH   SOLE   310,250 0 0
Centene Corporation Common 15135B101 17,175 256,500 SH   SOLE   256,500 0 0
Cepheid, Inc. Common 15670R107 17,577 333,590 SH   SOLE   333,590 0 0
Charles River Laboratories International, Inc. Common 159864107 9,584 115,000 SH   SOLE   115,000 0 0
Chimerix, Inc. Common 16934W106 1,711 308,892 SH   SOLE   308,892 0 0
Cidara Therapeutics, Inc. Common 171757107 1,517 132,472 SH   SOLE   132,472 0 0
Cigna Corporation Common 125509109 11,260 86,400 SH   SOLE   86,400 0 0
Community Health Systems, Inc. Common 203668108 3,514 304,472 SH   SOLE   304,472 0 0
CVS Caremark Corporation Common 126650100 36,654 411,891 SH   SOLE   411,891 0 0
CytomX Therapeutics, Inc. Common 23284F105 11,855 756,090 SH   SOLE   756,090 0 0
DaVita, Inc. Common 23918K108 10,644 161,100 SH   SOLE   161,100 0 0
DBV Technologies Sponsored ADR 23306J101 2,383 65,600 SH   SOLE   65,600 0 0
Depomed, Inc. Common 249908104 4,998 200,000 SH   SOLE   200,000 0 0
Dermira, Inc. Common 24983L104 2,794 82,600 SH   SOLE   82,600 0 0
Diplomat Pharmacy, Inc. Common 25456K101 2,441 87,163 SH   SOLE   87,163 0 0
Dynavax Technologies Corporation Common 268158201 3,620 345,050 SH   SOLE   345,050 0 0
Egalet Corporation Note 5.50% 4/1/20 28226BAB0 5,963 7,000,000 PRN   SOLE   7,000,000 0 0
Eli Lilly & Company Common 532457108 57,287 713,767 SH   SOLE   713,767 0 0
Endo International plc Shares G30401106 18,428 914,548 SH   SOLE   914,548 0 0
Endologix, Inc. Common 29266S106 9,901 773,500 SH   SOLE   773,500 0 0
Epizyme, Inc. Common 29428V104 3,936 400,000 SH   SOLE   400,000 0 0
Esperion Therapeutics, Inc. Common 29664W105 1,424 102,800 SH   SOLE   102,800 0 0
Exelixis, Inc. Common 30161Q104 7,056 551,647 SH   SOLE   551,647 0 0
Flamel Technologies SA Sponsored ADR 338488109 7,741 624,288 SH   SOLE   624,288 0 0
Flex Pharma, Inc. Common 33938A105 1,910 162,124 SH   SOLE   162,124 0 0
Foamix Pharmaceuticals, Ltd. Shares M46135105 8,946 966,065 SH   SOLE   966,065 0 0
Forward Pharma A/S Sponsored ADR 34986J105 2,867 136,547 SH   SOLE   136,547 0 0
Galapagos NV Sponsored ADR 36315X101 9,553 147,738 SH   SOLE   147,738 0 0
GenMark Diagnostics, Inc. Common 372309104 1,102 93,349 SH   SOLE   93,349 0 0
Gilead Sciences, Inc. Common 375558103 210,470 2,660,131 SH   SOLE   2,660,131 0 0
GlaxoSmithKline plc Sponsored ADR 37733W105 15,484 359,000 SH   SOLE   359,000 0 0
Global Blood Therapeutics, Inc. Common 37890U108 2,881 125,000 SH   SOLE   125,000 0 0
Grifols SA Sponsored ADR 398438408 2,651 166,000 SH   SOLE   166,000 0 0
Halozyme Therapeutics, Inc. Common 40637H109 2,416 200,000 SH   SOLE   200,000 0 0
HCA Holdings, Inc. Common 40412C101 7,237 95,684 SH   SOLE   95,684 0 0
Horizon Pharma plc Shares G4617B105 13,596 749,900 SH   SOLE   749,900 0 0
Humana, Inc. Common 444859102 29,151 164,800 SH   SOLE   164,800 0 0
ICON plc Shares G4705A100 5,571 72,000 SH   SOLE   72,000 0 0
IDEXX Laboratories, Inc. Common 45168D104 14,920 132,352 SH   SOLE   132,352 0 0
Illumina, Inc. Common 452327109 44,790 246,560 SH   SOLE   246,560 0 0
Immunomedics, Inc. Note 4.75% 2/15/20 452907AK4 3,378 4,000,000 PRN   SOLE   4,000,000 0 0
Impax Laboratories, Inc. Common 45256B101 2,947 124,335 SH   SOLE   124,335 0 0
Incyte Corporation Common 45337C102 83,019 880,461 SH   SOLE   880,461 0 0
Inotek Pharmaceuticals Corporation Common 45780V102 1,714 180,762 SH   SOLE   180,762 0 0
Intellia Therapeutics, Inc. Common 45826J105 1,223 71,842 SH   SOLE   71,842 0 0
iShares Nasdaq Biotechnology ETF ETF 464287556 16,693 57,670 SH   SOLE   57,670 0 0
Jazz Pharmaceuticals plc Shares G50871105 40,260 331,411 SH   SOLE   331,411 0 0
Johnson & Johnson Common 478160104 39,847 337,312 SH   SOLE   337,312 0 0
Juno Therapeutics, Inc. Common 48205A109 5,462 182,000 SH   SOLE   182,000 0 0
Karyopharm Therapeutics, Inc. Common 48576U106 4,868 500,324 SH   SOLE   500,324 0 0
LTC Properties, Inc. Common 502175102 5,522 106,212 SH   SOLE   106,212 0 0
Mallinckrodt plc Shares G5785G107 4,319 61,900 SH   SOLE   61,900 0 0
McKesson Corporation Common 58155Q103 2,501 15,000 SH   SOLE   15,000 0 0
Medical Properties Trust, Inc. Common 58463J304 12,395 839,217 SH   SOLE   839,217 0 0
The Medicines Company Common 584688105 21,302 564,438 SH   SOLE   564,438 0 0
Medtronic plc Shares G5960L103 53,830 623,030 SH   SOLE   623,030 0 0
Merck & Co., Inc. Common 58933Y105 77,788 1,246,397 SH   SOLE   1,246,397 0 0
Merrimack Pharmaceuticals, Inc. Note 4.50% 7/15/20 590328AA8 1,879 1,485,000 PRN   SOLE   1,485,000 0 0
Merrimack Pharmaceuticals, Inc. Common 590328100 1,816 286,000 SH   SOLE   286,000 0 0
Merus B.V. Common N5749R100 4,355 260,000 SH   SOLE   260,000 0 0
Molina Healthcare, Inc. Common 60855R100 23,476 402,541 SH   SOLE   402,541 0 0
Momenta Pharmaceuticals, Inc. Common 60877T100 1,797 153,700 SH   SOLE   153,700 0 0
Mylan NV Shares N59465109 43,287 1,135,552 SH   SOLE   1,135,552 0 0
Natera, Inc. Common 632307104 9,803 882,358 SH   SOLE   882,358 0 0
Neurocrine Biosciences, Inc. Common 64125C109 33,251 656,622 SH   SOLE   656,622 0 0
Nevro Corp. Common 64157F103 2,610 25,000 SH   SOLE   25,000 0 0
New Senior Investment Group Inc. Common 648691103 4,974 430,997 SH   SOLE   430,997 0 0
Novartis AG Sponsored ADR 66987V109 19,645 248,800 SH   SOLE   248,800 0 0
Novavax, Inc. Common 670002104 1,188 571,000 SH   SOLE   571,000 0 0
Omega Healthcare Investors, Inc. Common 681936100 14,645 413,116 SH   SOLE   413,116 0 0
Paratek Pharmaceuticals, Inc. Common 699374302 9,921 762,581 SH   SOLE   762,581 0 0
Perrigo Company plc Shares G97822103 3,444 37,300 SH   SOLE   37,300 0 0
Pfizer Inc. Common 717081103 38,838 1,146,689 SH   SOLE   1,146,689 0 0
Physicians Realty Trust Common 71943U104 11,431 530,672 SH   SOLE   530,672 0 0
Pieris Pharmaceuticals, Inc. Common 720795103 7,587 4,145,958 SH   SOLE   4,145,958 0 0
PRA Health Sciences, Inc. Common 69354M108 5,764 102,000 SH   SOLE   102,000 0 0
Puma Biotechnology, Inc. Common 74587V107 17,446 260,200 SH   SOLE   260,200 0 0
Quorum Health Corporation Common 74909E106 477 76,118 SH   SOLE   76,118 0 0
Regeneron Pharmaceuticals, Inc. Common 75886F107 62,018 154,266 SH   SOLE   154,266 0 0
Retrophin, Inc. Common 761299106 7,384 329,949 SH   SOLE   329,949 0 0
Revance Therapeutics, Inc. Common 761330109 1,216 75,000 SH   SOLE   75,000 0 0
The RMR Group Inc. Class A 74967R106 282 7,441 SH   SOLE   7,441 0 0
Sabra Health Care REIT, Inc. Common 78573L106 11,487 456,190 SH   SOLE   456,190 0 0
Sage Therapeutics, Inc. Common 78667J108 6,760 146,800 SH   SOLE   146,800 0 0
Sanofi Sponsored ADR 80105N105 11,648 305,000 SH   SOLE   305,000 0 0
Sarepta Therapeutics, Inc. Common 803607100 13,148 214,100 SH   SOLE   214,100 0 0
Senior Housing Properties Trust Shares 81721M109 13,059 575,054 SH   SOLE   575,054 0 0
Shire plc Sponsored ADR 82481R106 44,862 231,413 SH   SOLE   231,413 0 0
Supernus Pharmaceuticals, Inc. Note 7.50% 5/1/19 868459AB4 9,334 2,000,000 PRN   SOLE   2,000,000 0 0
Tenet Healthcare Corporation Common 88033G407 3,728 164,500 SH   SOLE   164,500 0 0
Tetraphase Pharmaceuticals Inc. Common 88165N105 737 192,322 SH   SOLE   192,322 0 0
Teva Pharmaceutical Industries Limited Sponsored ADR 881624209 36,300 788,958 SH   SOLE   788,958 0 0
TherapeuticsMD, Inc. Common 88338N107 2,091 307,000 SH   SOLE   307,000 0 0
Thermo Fisher Scientific Inc. Common 883556102 13,742 86,395 SH   SOLE   86,395 0 0
Ultragenyx Pharmaceutical Inc. Common 90400D108 6,271 88,400 SH   SOLE   88,400 0 0
UniQure NV Shares N90064101 1,844 241,021 SH   SOLE   241,021 0 0
United Therapeutics Corporation Common 91307C102 10,993 93,100 SH   SOLE   93,100 0 0
Unitedhealth Group, Inc. Common 91324P102 46,354 331,100 SH   SOLE   331,100 0 0
Universal Health Services, Inc. Class B 913903100 16,595 134,680 SH   SOLE   134,680 0 0
Valeant Pharmaceuticals International, Inc. Common 91911K102 4,714 192,000 SH   SOLE   192,000 0 0
Ventas, Inc. Common 92276F100 10,770 152,491 SH   SOLE   152,491 0 0
Vertex Pharmaceuticals Incorporated Common 92532F100 90,132 1,033,503 SH   SOLE   1,033,503 0 0
Vitae Pharmaceuticals, Inc. Common 92847N103 5,230 250,000 SH   SOLE   250,000 0 0
Welltower, Inc. Preferred Convertible 95040Q203 13,310 200,000 SH   SOLE   200,000 0 0
Xencor, Inc. Common 98401F105 490 20,000 SH   SOLE   20,000 0 0
Xenon Pharmaceuticals Inc. Common 98420N105 5,670 700,000 SH   SOLE   700,000 0 0
Zafgen, Inc. Common 98885E103 44 13,307 SH   SOLE   13,307 0 0
Zimmer Biomet Holdings, Inc. Common 98956P102 13,301 102,300 SH   SOLE   102,300 0 0