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 56,024 1,152,520 SH   SOLE   1,152,520 0 0
AbbVie Inc. Common 00287Y109 15 213 SH   SOLE   213 0 0
Acadia Healthcare Company, Inc. Common 00404A109 11,417 231,200 SH   SOLE   231,200 0 0
Accelerate Diagnostics, Inc. Common 00430H102 2,735 100,000 SH   SOLE   100,000 0 0
Acceleron Pharma Inc. Common 00434H108 1,813 59,654 SH   SOLE   59,654 0 0
Adaptimmune Therapeutics plc Sponsored ADR 00653A107 6,584 1,466,368 SH   SOLE   1,466,368 0 0
Aegerion Pharmaceuticals, Inc. Note 2.00% 5/15/19 00767EAB8 10,546 13,000,000 PRN   SOLE   13,000,000 0 0
Affimed N.V. Common N01045108 2,881 1,405,324 SH   SOLE   1,405,324 0 0
Akorn, Inc. Common 009728106 10,992 327,735 SH   SOLE   327,735 0 0
Alexion Pharmaceuticals, Inc. Common 015351109 91,363 750,905 SH   SOLE   750,905 0 0
Allergan plc Shares G0177J108 75,506 310,610 SH   SOLE   310,610 0 0
Allergan plc Preferred Convertible Series A G0177J116 4,340 5,000 SH   SOLE   5,000 0 0
Alliqua BioMedical, Inc. Common 019621200 611 1,650,000 SH   SOLE   1,650,000 0 0
Allscripts Healthcare Solutions, Inc. Common 01988P108 604 47,300 SH   SOLE   47,300 0 0
Alnylam Pharmaceuticals, Inc. Common 02043Q107 9,170 114,966 SH   SOLE   114,966 0 0
AmerisourceBergen Corporation Common 03073E105 24,094 254,887 SH   SOLE   254,887 0 0
Amgen Inc. Common 031162100 117,947 684,824 SH   SOLE   684,824 0 0
Amicus Therapeutics, Inc. Common 03152W109 1,619 160,730 SH   SOLE   160,730 0 0
ARCA biopharma, Inc. Common 00211Y407 1,988 811,227 SH   SOLE   811,227 0 0
Ardelyx, Inc. Common 039697107 3,261 639,370 SH   SOLE   639,370 0 0
Argenx SE Sponsored ADR 04016X101 1,591 75,000 SH   SOLE   75,000 0 0
AstraZeneca PLC Sponsored ADR 046353108 18,770 550,600 SH   SOLE   550,600 0 0
Auris Medical Holding AG Common H03579101 554 774,504 SH   SOLE   774,504 0 0
Avadel Pharmaceuticals plc Sponsored ADR 05337M104 6,886 624,288 SH   SOLE   624,288 0 0
Avexis, Inc. Common 05366U100 822 10,000 SH   SOLE   10,000 0 0
Bellicum Pharmaceuticals, Inc. Common 079481107 701 60,000 SH   SOLE   60,000 0 0
Biogen Inc. Common 09062X103 143,759 529,774 SH   SOLE   529,774 0 0
BioMarin Pharmaceutical Inc. Common 09061G101 45,568 501,745 SH   SOLE   501,745 0 0
bluebird bio, Inc. Common 09609G100 1,394 13,273 SH   SOLE   13,273 0 0
Bristol-Myers Squibb Co. Common 110122108 10,392 186,500 SH   SOLE   186,500 0 0
Cardinal Health, Inc. Common 14149Y108 5,969 76,600 SH   SOLE   76,600 0 0
Celgene Corporation Common 151020104 189,169 1,456,605 SH   SOLE   1,456,605 0 0
Celldex Therapeutics, Inc. Common 15117B103 261 105,800 SH   SOLE   105,800 0 0
Cellectis S.A. Sponsored ADR 15117K103 8,011 310,250 SH   SOLE   310,250 0 0
Centene Corporation Common 15135B101 15,385 192,600 SH   SOLE   192,600 0 0
Charles River Laboratories International, Inc. Common 159864107 12,856 127,100 SH   SOLE   127,100 0 0
Cidara Therapeutics, Inc. Common 171757107 2,149 286,472 SH   SOLE   286,472 0 0
Cigna Corporation Common 125509109 14,044 83,900 SH   SOLE   83,900 0 0
Clovis Oncology, Inc. Common 189464100 14,119 150,800 SH   SOLE   150,800 0 0
Coherus Biosciences, Inc. Common 19249H103 1,292 90,000 SH   SOLE   90,000 0 0
Community Health Systems, Inc. Common 203668108 2,031 203,935 SH   SOLE   203,935 0 0
CVS Health Corporation Common 126650100 33,141 411,891 SH   SOLE   411,891 0 0
CytomX Therapeutics, Inc. Common 23284F105 8,216 530,092 SH   SOLE   530,092 0 0
DBV Technologies S.A. Sponsored ADR 23306J101 2,278 63,800 SH   SOLE   63,800 0 0
Dermira, Inc. Common 24983L104 11,274 386,900 SH   SOLE   386,900 0 0
DexCom, Inc. Common 252131107 6,181 84,500 SH   SOLE   84,500 0 0
Diplomat Pharmacy, Inc. Common 25456K101 6,833 461,712 SH   SOLE   461,712 0 0
Dynavax Technologies Corporation Common 268158201 3,330 345,050 SH   SOLE   345,050 0 0
Egalet Corporation Note 5.50% 4/1/20 28226BAB0 4,454 7,000,000 PRN   SOLE   7,000,000 0 0
Eli Lilly & Company Common 532457108 40,582 493,100 SH   SOLE   493,100 0 0
Endo International plc Shares G30401106 10,216 914,548 SH   SOLE   914,548 0 0
Entellus Medical, Inc. Common 29363K105 5,655 341,471 SH   SOLE   341,471 0 0
Epizyme, Inc. Common 29428V104 4,243 281,000 SH   SOLE   281,000 0 0
Exelixis, Inc. Common 30161Q104 13,587 551,647 SH   SOLE   551,647 0 0
Express Scripts Holding Company Common 30219G108 5,394 84,500 SH   SOLE   84,500 0 0
Flex Pharma, Inc. Common 33938A105 614 159,549 SH   SOLE   159,549 0 0
Foamix Pharmaceuticals Ltd Shares M46135105 4,317 930,398 SH   SOLE   930,398 0 0
Galapagos NV Sponsored ADR 36315X101 1,454 19,000 SH   SOLE   19,000 0 0
GenMark Diagnostics, Inc. Common 372309104 1,104 93,349 SH   SOLE   93,349 0 0
Gilead Sciences, Inc. Common 375558103 179,083 2,530,131 SH   SOLE   2,530,131 0 0
GlaxoSmithKline plc Shares 37733W105 15,480 359,000 SH   SOLE   359,000 0 0
Global Blood Therapeutics, Inc. Common 37890U108 3,419 125,000 SH   SOLE   125,000 0 0
Global Medical REIT Inc. Common 37954A204 656 73,400 SH   SOLE   73,400 0 0
HCA Healthcare, Inc. Common 40412C101 8,304 95,232 SH   SOLE   95,232 0 0
HCP, Inc. Common 40414L109 1,454 45,500 SH   SOLE   45,500 0 0
Healthcare Realty Trust Inc. Common 421946104 2,322 68,000 SH   SOLE   68,000 0 0
Healthcare Trust of America, Inc. Class A 42225P501 1,431 46,000 SH   SOLE   46,000 0 0
Horizon Pharma plc Shares G4617B105 1,934 162,900 SH   SOLE   162,900 0 0
Humana Inc. Common 444859102 30,025 124,781 SH   SOLE   124,781 0 0
IDEXX Laboratories, Inc. Common 45168D104 21,364 132,352 SH   SOLE   132,352 0 0
Illumina, Inc. Common 452327109 48,405 278,960 SH   SOLE   278,960 0 0
Impax Laboratories, Inc. Common 45256B101 2,002 124,335 SH   SOLE   124,335 0 0
Incyte Corporation Common 45337C102 87,290 693,275 SH   SOLE   693,275 0 0
Innoviva, Inc. Common 45781M101 3,185 248,803 SH   SOLE   248,803 0 0
Intellia Therapeutics, Inc. Common 45826J105 448 28,000 SH   SOLE   28,000 0 0
iShares Nasdaq Biotechnology ETF Nasdaq Biotech ETF 464287556 23,557 75,970 SH   SOLE   75,970 0 0
Jazz Pharmaceuticals plc Shares G50871105 42,594 273,916 SH   SOLE   273,916 0 0
Johnson & Johnson Common 478160104 94,503 714,362 SH   SOLE   714,362 0 0
Juno Therapeutics, Inc. Common 48205A109 1,701 56,900 SH   SOLE   56,900 0 0
Karyopharm Therapeutics Inc. Common 48576U106 6,848 756,679 SH   SOLE   756,679 0 0
LTC Properties, Inc. Common 502175102 7,000 136,212 SH   SOLE   136,212 0 0
Mallinckrodt plc Shares G5785G107 2,774 61,900 SH   SOLE   61,900 0 0
McKesson Corporation Common 58155Q103 23,496 142,800 SH   SOLE   142,800 0 0
Medical Properties Trust, Inc. Common 58463J304 12,969 1,007,717 SH   SOLE   1,007,717 0 0
Medtronic plc Shares G5960L103 51,504 580,326 SH   SOLE   580,326 0 0
Merck & Co., Inc. Common 58933Y105 94,423 1,473,295 SH   SOLE   1,473,295 0 0
Merus B.V. Common N5749R100 7,595 479,150 SH   SOLE   479,150 0 0
Momenta Pharmaceuticals, Inc. Common 60877T100 2,584 152,900 SH   SOLE   152,900 0 0
Mylan N.V. Shares N59465109 62,233 1,603,112 SH   SOLE   1,603,112 0 0
Myovant Sciences Ltd. Common G637AM102 4,680 400,000 SH   SOLE   400,000 0 0
Nabriva Therapeutics plc Shares G63637105 1,677 149,334 SH   SOLE   149,334 0 0
NanoString Technologies, Inc. Common 63009R109 1,877 113,500 SH   SOLE   113,500 0 0
Natera, Inc. Common 632307104 5,275 485,758 SH   SOLE   485,758 0 0
Neurocrine Biosciences, Inc. Common 64125C109 25,873 562,467 SH   SOLE   562,467 0 0
Nevro Corp. Common 64157F103 14,486 194,621 SH   SOLE   194,621 0 0
New Senior Investment Group Inc. Common 648691103 5,708 567,997 SH   SOLE   567,997 0 0
Novartis AG Sponsored ADR 66987V109 33,276 398,662 SH   SOLE   398,662 0 0
Novavax, Inc. Common 670002104 657 571,000 SH   SOLE   571,000 0 0
Novo Nordisk A/S Sponsored ADR 670100205 9,320 217,300 SH   SOLE   217,300 0 0
Omega Healthcare Investors, Inc. Common 681936100 15,144 458,616 SH   SOLE   458,616 0 0
Ovid Therapeutics Inc. Common 690469101 5,229 535,824 SH   SOLE   535,824 0 0
Paratek Pharmaceuticals, Inc. Common 699374302 12,845 533,000 SH   SOLE   533,000 0 0
Perrigo Company plc Shares G97822103 2,817 37,300 SH   SOLE   37,300 0 0
Pfizer Inc. Common 717081103 27,211 810,087 SH   SOLE   810,087 0 0
Physicians Realty Trust Common 71943U104 10,688 530,672 SH   SOLE   530,672 0 0
Pieris Pharmaceuticals, Inc. Common 720795103 14,358 2,837,573 SH   SOLE   2,837,573 0 0
PRA Health Sciences, Inc. Common 69354M108 7,651 102,000 SH   SOLE   102,000 0 0
Puma Biotechnology, Inc. Common 74587V107 17,702 202,537 SH   SOLE   202,537 0 0
Quorum Health Corporation Common 74909E106 98 23,725 SH   SOLE   23,725 0 0
Ra Pharmaceuticals, Inc. Common 74933V108 7,418 395,818 SH   SOLE   395,818 0 0
Regeneron Pharmaceuticals, Inc. Common 75886F107 92,170 187,666 SH   SOLE   187,666 0 0
Retrophin, Inc. Common 761299106 3,257 167,949 SH   SOLE   167,949 0 0
The RMR Group Inc. Class A 74967R106 362 7,441 SH   SOLE   7,441 0 0
Sabra Health Care REIT, Inc. Common 78573L106 13,279 550,990 SH   SOLE   550,990 0 0
Sage Therapeutics, Inc. Common 78667J108 7,206 90,480 SH   SOLE   90,480 0 0
Sanofi Sponsored ADR 80105N105 8,619 179,900 SH   SOLE   179,900 0 0
Sarepta Therapeutics, Inc. Common 803607100 17,246 511,600 SH   SOLE   511,600 0 0
Seattle Genetics, Inc. Common 812578102 11,574 223,700 SH   SOLE   223,700 0 0
Senior Housing Properties Trust Shares 81721M109 13,216 646,554 SH   SOLE   646,554 0 0
Shire plc Sponsored ADR 82481R106 41,667 252,113 SH   SOLE   252,113 0 0
Spark Therapeutics, Inc. Common 84652J103 1,452 24,300 SH   SOLE   24,300 0 0
SPDR S&P Biotech ETF S&P Biotech ETF 78464A870 17,478 226,460 SH   SOLE   226,460 0 0
Syndax Pharmaceuticals, Inc. Common 87164F105 2,794 200,000 SH   SOLE   200,000 0 0
Tenet Healthcare Corporation Common 88033G407 6,062 313,440 SH   SOLE   313,440 0 0
Tetraphase Pharmaceuticals, Inc. Common 88165N105 7,161 1,004,322 SH   SOLE   1,004,322 0 0
Teva Pharmaceutical Industries Ltd. Sponsored ADR 881624209 33,743 1,015,758 SH   SOLE   1,015,758 0 0
Thermo Fisher Scientific Inc. Common 883556102 24,272 139,120 SH   SOLE   139,120 0 0
Trillium Therapeutics Inc. Common 89620X506 1,980 500,000 SH   SOLE   500,000 0 0
Ultragenyx Pharmaceutical Inc. Common 90400D108 7,907 127,308 SH   SOLE   127,308 0 0
uniQure N.V. Shares N90064101 1,492 241,021 SH   SOLE   241,021 0 0
United Therapeutics Corporation Common 91307C102 5,703 43,961 SH   SOLE   43,961 0 0
Unitedhealth Group Inc. Common 91324P102 57,012 307,476 SH   SOLE   307,476 0 0
Universal Health Services, Inc. Class B 913903100 5,869 48,076 SH   SOLE   48,076 0 0
Valeant Pharmaceuticals International, Inc. Common 91911K102 7,439 430,000 SH   SOLE   430,000 0 0
Ventas, Inc. Common 92276F100 12,228 175,991 SH   SOLE   175,991 0 0
Verona Pharma plc Sponsored ADR 925050106 3,211 275,000 SH   SOLE   275,000 0 0
Vertex Pharmaceuticals Incorporated Common 92532F100 102,845 798,053 SH   SOLE   798,053 0 0
Welltower Inc. 6.50% Preferred Perpetual 95040Q203 13,252 200,000 SH   SOLE   200,000 0 0
Welltower Inc. Common 95040Q104 1,602 21,400 SH   SOLE   21,400 0 0
Wright Medical Group N.V. Ordinary Shares N96617118 5,904 214,781 SH   SOLE   214,781 0 0
Xencor, Inc. Common 98401F105 422 20,000 SH   SOLE   20,000 0 0
Xenon Pharmaceuticals Inc. Common 98420N105 1,103 350,000 SH   SOLE   350,000 0 0
Zafgen, Inc. Common 98885E103 47 13,307 SH   SOLE   13,307 0 0
Zimmer Biomet Holdings, Inc. Common 98956P102 13,135 102,300 SH   SOLE   102,300 0 0