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 60,830 1,583,700 SH   SOLE   1,583,700 0 0
AbbVie Inc. Common 00287Y109 10 156 SH   SOLE   156 0 0
Acadia Healthcare Company, Inc. Common 00404A109 2,148 64,900 SH   SOLE   64,900 0 0
ACADIA Pharmaceuticals Inc. Common 004225108 3,224 111,800 SH   SOLE   111,800 0 0
Accelerate Diagnostics, Inc. Common 00430H102 2,490 120,000 SH   SOLE   120,000 0 0
Acceleron Pharma, Inc. Common 00434H108 1,390 54,450 SH   SOLE   54,450 0 0
Achillion Pharmaceuticals, Inc. Common 00448Q201 1,833 443,851 SH   SOLE   443,851 0 0
Adamas Pharmaceuticals, Inc. Common 00548A106 2,121 125,504 SH   SOLE   125,504 0 0
Adaptimmune Therapeutics plc Sponsored ADR 00653A107 2,294 566,368 SH   SOLE   566,368 0 0
Aegerion Pharmaceuticals, Inc. Note 2.00% 5/15/19 00767EAB8 9,263 13,000,000 PRN   SOLE   13,000,000 0 0
Affimed NV Common N01045108 530 294,213 SH   SOLE   294,213 0 0
Akorn, Inc. Common 009728106 7,154 327,735 SH   SOLE   327,735 0 0
Alexion Pharmaceuticals, Inc. Common 015351109 97,379 795,905 SH   SOLE   795,905 0 0
Allergan plc Common G0177J108 91,162 434,086 SH   SOLE   434,086 0 0
Allergan plc Preferred Convertible G0177J116 3,812 5,000 SH   SOLE   5,000 0 0
Alliqua BioMedical, Inc. Common 019621200 974 1,650,000 SH   SOLE   1,650,000 0 0
Allscripts Healthcare Solutions, Inc. Common 01988P108 1,772 173,600 SH   SOLE   173,600 0 0
Alnylam Pharmaceuticals, Inc. Common 02043Q107 9,135 243,995 SH   SOLE   243,995 0 0
AmerisourceBergen Corporation Common 03073E105 25,856 330,687 SH   SOLE   330,687 0 0
Amgen Inc. Common 031162100 47,027 321,640 SH   SOLE   321,640 0 0
Amicus Therapeutics, Inc. Common 03152W109 2,081 418,730 SH   SOLE   418,730 0 0
ARCA biopharma, Inc. Common 00211Y407 2,312 811,227 SH   SOLE   811,227 0 0
Ardelyx, Inc. Common 039697107 9,079 639,370 SH   SOLE   639,370 0 0
AstraZeneca PLC Sponsored ADR 046353108 12,671 463,800 SH   SOLE   463,800 0 0
Auris Medical Holding AG Common H03579101 829 774,504 SH   SOLE   774,504 0 0
Becton, Dickinson and Co. Common 075887109 10,443 63,078 SH   SOLE   63,078 0 0
BeiGene, Ltd. Sponsored ADR 07725L102 3,543 116,707 SH   SOLE   116,707 0 0
Bellicum Pharmaceuticals, Inc. Common 079481107 817 60,000 SH   SOLE   60,000 0 0
Biogen Inc. Common 09062X103 152,382 537,350 SH   SOLE   537,350 0 0
BioMarin Pharmaceutical Inc. Common 09061G101 47,438 572,645 SH   SOLE   572,645 0 0
bluebird bio, Inc. Common 09609G100 3,045 49,345 SH   SOLE   49,345 0 0
Cardinal Health, Inc. Common 14149Y108 10,975 152,500 SH   SOLE   152,500 0 0
Care Capital Properties, Inc. Common 141624106 8,626 345,022 SH   SOLE   345,022 0 0
Celgene Corporation Common 151020104 163,195 1,409,889 SH   SOLE   1,409,889 0 0
Celldex Therapeutics, Inc. Common 15117B103 375 105,800 SH   SOLE   105,800 0 0
Cellectis S.A. Sponsored ADR 15117K103 5,259 310,250 SH   SOLE   310,250 0 0
Centene Corporation Common 15135B101 22,604 400,000 SH   SOLE   400,000 0 0
Charles River Laboratories International, Inc. Common 159864107 9,722 127,600 SH   SOLE   127,600 0 0
Chimerix, Inc. Common 16934W106 1,421 308,892 SH   SOLE   308,892 0 0
Cidara Therapeutics, Inc. Common 171757107 1,378 132,472 SH   SOLE   132,472 0 0
Cigna Corporation Common 125509109 11,525 86,400 SH   SOLE   86,400 0 0
Coherus Biosciences, Inc. Common 19249H103 2,534 90,000 SH   SOLE   90,000 0 0
Community Health Systems, Inc. Common 203668108 1,140 203,935 SH   SOLE   203,935 0 0
CVS Health Corporation Common 126650100 32,502 411,891 SH   SOLE   411,891 0 0
CytomX Therapeutics, Inc. Common 23284F105 8,309 756,090 SH   SOLE   756,090 0 0
DBV Technologies S.A. Sponsored ADR 23306J101 2,305 65,600 SH   SOLE   65,600 0 0
Dermira, Inc. Common 24983L104 5,011 165,200 SH   SOLE   165,200 0 0
Diplomat Pharmacy, Inc. Common 25456K101 1,641 130,223 SH   SOLE   130,223 0 0
Dynavax Technologies Corporation Common 268158201 1,363 345,050 SH   SOLE   345,050 0 0
Egalet Corporation Note 5.50% 4/1/20 28226BAB0 6,059 7,000,000 PRN   SOLE   7,000,000 0 0
Eli Lilly & Company Common 532457108 36,268 493,100 SH   SOLE   493,100 0 0
Endo International plc Shares G30401106 15,063 914,548 SH   SOLE   914,548 0 0
Endologix, Inc. Common 29266S106 2,212 386,750 SH   SOLE   386,750 0 0
Epizyme, Inc. Common 29428V104 4,840 400,000 SH   SOLE   400,000 0 0
Esperion Therapeutics, Inc. Common 29664W105 1,287 102,800 SH   SOLE   102,800 0 0
Exelixis, Inc. Common 30161Q104 8,225 551,647 SH   SOLE   551,647 0 0
Flamel Technologies SA Sponsored ADR 338488109 6,486 624,288 SH   SOLE   624,288 0 0
Flex Pharma, Inc. Common 33938A105 856 162,124 SH   SOLE   162,124 0 0
Foamix Pharmaceuticals Ltd Shares M46135105 10,327 930,398 SH   SOLE   930,398 0 0
Forward Pharma A/S Sponsored ADR 34986J105 2,050 136,547 SH   SOLE   136,547 0 0
Galapagos NV Sponsored ADR 36315X101 7,429 115,738 SH   SOLE   115,738 0 0
GenMark Diagnostics, Inc. Common 372309104 1,143 93,349 SH   SOLE   93,349 0 0
Gilead Sciences, Inc. Common 375558103 181,183 2,530,131 SH   SOLE   2,530,131 0 0
GlaxoSmithKline plc Sponsored ADR 37733W105 13,825 359,000 SH   SOLE   359,000 0 0
Global Blood Therapeutics, Inc. Common 37890U108 5,510 381,300 SH   SOLE   381,300 0 0
Global Medical REIT Inc. Common 37954A204 655 73,400 SH   SOLE   73,400 0 0
Grifols, S.A. Sponsored ADR 398438408 2,668 166,000 SH   SOLE   166,000 0 0
Halozyme Therapeutics, Inc. Common 40637H109 1,976 200,000 SH   SOLE   200,000 0 0
HCA Holdings, Inc. Common 40412C101 14,081 190,232 SH   SOLE   190,232 0 0
HCP, Inc. Common 40414L109 1,352 45,500 SH   SOLE   45,500 0 0
Healthcare Realty Trust, Inc. Common 421946104 2,062 68,000 SH   SOLE   68,000 0 0
Healthcare Trust of America, Inc. Class A 42225P501 1,339 46,000 SH   SOLE   46,000 0 0
Horizon Pharma plc Shares G4617B105 2,636 162,900 SH   SOLE   162,900 0 0
Humana Inc. Common 444859102 33,624 164,800 SH   SOLE   164,800 0 0
ICON plc Shares G4705A100 5,414 72,000 SH   SOLE   72,000 0 0
IDEXX Laboratories, Inc. Common 45168D104 15,521 132,352 SH   SOLE   132,352 0 0
Illumina, Inc. Common 452327109 31,570 246,560 SH   SOLE   246,560 0 0
Immunomedics, Inc. Note 4.75% 2/15/20 452907AK4 3,960 4,000,000 PRN   SOLE   4,000,000 0 0
Impax Laboratories, Inc. Common 45256B101 1,647 124,335 SH   SOLE   124,335 0 0
Incyte Corporation Common 45337C102 88,284 880,461 SH   SOLE   880,461 0 0
Intellia Therapeutics, Inc. Common 45826J105 942 71,842 SH   SOLE   71,842 0 0
iShares Nasdaq Biotechnology ETF ETF 464287556 15,304 57,670 SH   SOLE   57,670 0 0
Jazz Pharmaceuticals plc Shares G50871105 36,134 331,411 SH   SOLE   331,411 0 0
Johnson & Johnson Common 478160104 51,062 443,212 SH   SOLE   443,212 0 0
Juno Therapeutics, Inc. Common 48205A109 1,073 56,900 SH   SOLE   56,900 0 0
Karyopharm Therapeutics Inc. Common 48576U106 4,703 500,324 SH   SOLE   500,324 0 0
LTC Properties, Inc. Common 502175102 6,399 136,212 SH   SOLE   136,212 0 0
Mallinckrodt plc Shares G5785G107 3,084 61,900 SH   SOLE   61,900 0 0
McKesson Corporation Common 58155Q103 2,107 15,000 SH   SOLE   15,000 0 0
Medical Properties Trust, Inc. Common 58463J304 12,395 1,007,717 SH   SOLE   1,007,717 0 0
The Medicines Company Common 584688105 26,189 771,638 SH   SOLE   771,638 0 0
Medtronic plc Shares G5960L103 44,378 623,030 SH   SOLE   623,030 0 0
Merck & Co., Inc. Common 58933Y105 70,547 1,198,349 SH   SOLE   1,198,349 0 0
Merus B.V. Common N5749R100 10,115 479,150 SH   SOLE   479,150 0 0
Molina Healthcare, Inc. Common 60855R100 21,842 402,541 SH   SOLE   402,541 0 0
Momenta Pharmaceuticals, Inc. Common 60877T100 4,614 306,600 SH   SOLE   306,600 0 0
Mylan N.V. Shares N59465109 43,321 1,135,552 SH   SOLE   1,135,552 0 0
Myovant Sciences Ltd. Common G637AM102 4,976 400,000 SH   SOLE   400,000 0 0
Nabriva Therapeutics AG Sponsored ADR 62957M104 2,083 350,000 SH   SOLE   350,000 0 0
Natera, Inc. Common 632307104 10,332 882,358 SH   SOLE   882,358 0 0
Neurocrine Biosciences, Inc. Common 64125C109 15,165 391,869 SH   SOLE   391,869 0 0
New Senior Investment Group Inc. Common 648691103 5,561 567,997 SH   SOLE   567,997 0 0
Novartis AG Sponsored ADR 66987V109 18,123 248,800 SH   SOLE   248,800 0 0
Novavax, Inc. Common 670002104 719 571,000 SH   SOLE   571,000 0 0
Omega Healthcare Investors, Inc. Common 681936100 14,336 458,616 SH   SOLE   458,616 0 0
Paratek Pharmaceuticals, Inc. Common 699374302 11,744 762,581 SH   SOLE   762,581 0 0
Perrigo Company plc Shares G97822103 3,104 37,300 SH   SOLE   37,300 0 0
Pfizer Inc. Common 717081103 37,244 1,146,689 SH   SOLE   1,146,689 0 0
Physicians Realty Trust Common 71943U104 10,062 530,672 SH   SOLE   530,672 0 0
Pieris Pharmaceuticals, Inc. Common 720795103 5,804 4,145,958 SH   SOLE   4,145,958 0 0
PRA Health Sciences, Inc. Common 69354M108 5,622 102,000 SH   SOLE   102,000 0 0
Puma Biotechnology, Inc. Common 74587V107 7,988 260,200 SH   SOLE   260,200 0 0
Quorum Health Corporation Common 74909E106 172 23,725 SH   SOLE   23,725 0 0
Regeneron Pharmaceuticals, Inc. Common 75886F107 68,890 187,666 SH   SOLE   187,666 0 0
Retrophin, Inc. Common 761299106 3,179 167,949 SH   SOLE   167,949 0 0
The RMR Group Inc. Class A 74967R106 294 7,441 SH   SOLE   7,441 0 0
Sabra Health Care REIT, Inc. Common 78573L106 13,455 550,990 SH   SOLE   550,990 0 0
Sage Therapeutics, Inc. Common 78667J108 2,757 54,000 SH   SOLE   54,000 0 0
Sanofi Sponsored ADR 80105N105 12,334 305,000 SH   SOLE   305,000 0 0
Sarepta Therapeutics, Inc. Common 803607100 12,791 466,300 SH   SOLE   466,300 0 0
Senior Housing Properties Trust Shares 81721M109 12,239 646,554 SH   SOLE   646,554 0 0
Shire plc Sponsored ADR 82481R106 39,428 231,413 SH   SOLE   231,413 0 0
Spark Therapeutics, Inc. Common 84652J103 1,213 24,300 SH   SOLE   24,300 0 0
SPDR S&P Biotech ETF ETF 78464A870 10,595 179,000 SH   SOLE   179,000 0 0
Tenet Healthcare Corporation Common 88033G407 2,441 164,500 SH   SOLE   164,500 0 0
Tetraphase Pharmaceuticals, Inc. Common 88165N105 775 192,322 SH   SOLE   192,322 0 0
Teva Pharmaceutical Industries Ltd. Sponsored ADR 881624209 28,600 788,958 SH   SOLE   788,958 0 0
TherapeuticsMD, Inc. Common 88338N107 1,080 187,100 SH   SOLE   187,100 0 0
Thermo Fisher Scientific Inc. Common 883556102 19,912 141,120 SH   SOLE   141,120 0 0
Ultragenyx Pharmaceutical Inc. Common 90400D108 6,215 88,400 SH   SOLE   88,400 0 0
uniQure N.V. Shares N90064101 1,350 241,021 SH   SOLE   241,021 0 0
United Therapeutics Corporation Common 91307C102 13,353 93,100 SH   SOLE   93,100 0 0
UnitedHealth Group Inc. Common 91324P102 39,357 245,920 SH   SOLE   245,920 0 0
Universal Health Services, Inc. Class B 913903100 15,614 146,780 SH   SOLE   146,780 0 0
Valeant Pharmaceuticals International, Inc. Common 91911K102 2,788 192,000 SH   SOLE   192,000 0 0
Ventas, Inc. Common 92276F100 11,003 175,991 SH   SOLE   175,991 0 0
Vertex Pharmaceuticals Incorporated Common 92532F100 76,138 1,033,503 SH   SOLE   1,033,503 0 0
Welltower Inc. 6.50% Preferred Perpetual 95040Q203 12,036 200,000 SH   SOLE   200,000 0 0
Welltower Inc. Common 95040Q104 1,432 21,400 SH   SOLE   21,400 0 0
Xencor, Inc. Common 98401F105 526 20,000 SH   SOLE   20,000 0 0
Xenon Pharmaceuticals Inc. Common 98420N105 5,390 700,000 SH   SOLE   700,000 0 0
Zafgen, Inc. Common 98885E103 42 13,307 SH   SOLE   13,307 0 0
Zimmer Biomet Holdings, Inc. Common 98956P102 10,557 102,300 SH   SOLE   102,300 0 0