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 LABS COM 002824100 10,356 211,000 SH   DFND 1 53,000 0 158,000
ABBVIE INC COM 00287Y109 447,821 6,665,000 SH   DFND 1 2,926,000 0 3,739,000
ABBVIE INC COM 00287Y109 20,157 300,000 SH Call DFND 1 120,300 0 179,700
ADAPTIMMUNE THERAPEUTICS PLC SPONDS ADR 00653A107 80,857 4,411,186 SH   SOLE   4,411,186 0 0
ADURO BIOTECH INC COM 00739L101 32,317 1,065,522 SH   SOLE   1,065,522 0 0
ADVAXIS INC COM NEW 007624208 15,351 755,100 SH   DFND 1 0 0 755,100
AETNA INC NEW COM 00817Y108 12,236 96,000 SH   DFND 1 26,000 0 70,000
AFFIMED N V COM N01045108 78,323 5,814,630 SH   SOLE   5,814,630 0 0
AFFYMETRIX INC COM 00826T108 82,020 7,511,000 SH   DFND 1 2,295,000 0 5,216,000
AGILENT TECHNOLOGIES INC COM 00846U101 141,511 3,668,000 SH   DFND 1 1,560,300 0 2,107,700
ALEXION PHARMACEUTICALS INC COM 015351109 369,566 2,044,400 SH   DFND 1 768,300 0 1,276,100
ALIMERA SCIENCES INC COM 016259103 6,915 1,500,000 SH   DFND 1 670,000 0 830,000
ALLERGAN PLC SHS G0177J108 458,624 1,511,315 SH   DFND 1 705,025 0 806,290
ALLERGAN PLC SHS G0177J108 7,587 25,000 SH Call DFND 1 10,000 0 15,000
ALLERGAN PLC PFD CONV SER A G0177J116 108,960 104,200 SH   DFND 1 30,300 0 73,900
AMARIN CORP PLC SPONS ADR NEW 023111206 861 350,000 SH   SOLE   350,000 0 0
AMGEN INC COM 031162100 442,291 2,881,000 SH   DFND 1 1,069,000 0 1,812,000
ANACOR PHARMACEUTICALS INC COM 032420101 9,988 129,000 SH   DFND 1 0 0 129,000
ARRAY BIOPHARMA INC COM 04269X105 72,536 10,060,500 SH   DFND 1 3,969,700 0 6,090,800
ARRAY BIOPHARMA INC COM 04269X105 3,605 500,000 SH Call DFND 1 200,400 0 299,600
ASCENDIS PHARMA A S SPONSORED ADR 04351P101 25,618 1,448,991 SH   SOLE   1,448,991 0 0
ASSEMBLY BIOSCIENCES INC COM 045396108 26,908 1,397,100 SH   DFND 1 647,100 0 750,000
AVALANCHE BIOTECHNOLOGIES IN COM 05337G107 4,060 250,000 SH Call DFND 1 100,200 0 149,800
BIOGEN INC COM 09062X103 516,599 1,278,900 SH   DFND 1 456,000 0 822,900
BIOLINERX LTD SPONSORED ADR 09071M106 3,019 1,135,000 SH   SOLE   1,135,000 0 0
BIOMARIN PHARMACEUTICAL INC COM 09061G101 25,715 188,000 SH   DFND 1 0 0 188,000
BIOMARIN PHARMACEUTICAL INC NOTE 0.750%10/1 09061GAE1 771 500,000 PRN   DFND 1 215,000 0 285,000
BIOMARIN PHARMACEUTICAL INC NOTE 1.500%10/1 09061GAF8 792 500,000 PRN   DFND 1 215,000 0 285,000
BIOTIE THERAPIES OYJ SPONSORED ADR 09074D103 5,365 268,672 SH   SOLE   268,672 0 0
BLUEBIRD BIO INC COM 09609G100 161,349 958,300 SH   DFND 1 297,600 0 660,700
BOSTON SCIENTIFIC CORP COM 101137107 383,736 21,680,000 SH   DFND 1 9,630,000 0 12,050,000
BRISTOL MYERS SQUIBB CO COM 110122108 515,758 7,751,100 SH   DFND 1 3,286,700 0 4,464,400
BRISTOL MYERS SQUIBB CO COM 110122108 33,270 500,000 SH Call DFND 1 175,300 0 324,700
CARDINAL HEALTH INC COM 14149Y108 12,213 146,000 SH   DFND 1 40,000 0 106,000
CELGENE CORP COM 151020104 442,802 3,826,000 SH   DFND 1 1,361,000 0 2,465,000
CELLECTIS S A SPONSORED ADS 15117K103 12,628 350,000 SH   DFND 1 162,100 0 187,900
CEMPRA INC COM 15130J109 1,718 50,000 SH   DFND 1 0 0 50,000
CERUS CORP COM 157085101 43,117 8,307,727 SH   DFND 1 3,423,000 0 4,884,727
CHIMERIX INC COM 16934W106 47,198 1,021,600 SH   DFND 1 418,980 0 602,620
CLOVIS ONCOLOGY INC COM 189464100 88,337 1,005,200 SH   DFND 1 402,900 0 602,300
COGENTIX MED INC COM 19243A104 1,605 990,745 SH   DFND 1 436,407 0 554,338
COMMUNITY HEALTH SYS INC NEW COM 203668108 96,344 1,530,000 SH   DFND 1 615,000 0 915,000
CONNECTURE INC COM 20786J106 18,374 1,740,000 SH   DFND 1 795,000 0 945,000
COOPER COS INC COM NEW 216648402 231,610 1,301,400 SH   DFND 1 600,000 0 701,400
CYNAPSUS THERAPEUTICS INC COM PAR NO PAR 23257Y859 23,274 1,140,325 SH   SOLE   1,140,325 0 0
DICERNA PHARMACEUTICALS INC COM 253031108 1,980 141,900 SH   DFND 1 0 0 141,900
DYAX CORP COM 26746E103 29,601 1,117,000 SH   DFND 1 300,200 0 816,800
EHEALTH INC COM 28238P109 16,497 1,300,000 SH   DFND 1 600,000 0 700,000
ELEVEN BIOTHERAPEUTICS INC COM 286221106 2,063 731,600 SH   DFND 1 0 0 731,600
ENSIGN GROUP INC COM 29358P101 12,642 247,600 SH   DFND 1 101,600 0 146,000
EXACT SCIENCES CORP COM 30063P105 52,878 1,778,000 SH   DFND 1 824,000 0 954,000
EXPRESS SCRIPTS HLDG CO COM 30219G108 119,357 1,342,000 SH   DFND 1 578,000 0 764,000
FATE THERAPEUTICS INC COM 31189P102 4,483 692,900 SH   DFND 1 296,100 0 396,800
FLUIDIGM CORP DEL COM 34385P108 59,288 2,449,900 SH   DFND 1 888,000 0 1,561,900
FLUIDIGM CORP DEL NOTE 2.750% 2/0 34385PAA6 10,398 11,935,000 PRN   DFND 1 5,330,000 0 6,605,000
FORWARD PHARMA A/S SPONSORED ADR 34986J105 36,551 960,600 SH   DFND 1 389,100 0 571,500
GALAPAGOS NV SPON ADR 36315X101 26,414 512,900 SH   DFND 1 279,800 0 233,100
GILEAD SCIENCES INC COM 375558103 338,993 2,895,400 SH   DFND 1 977,100 0 1,918,300
GLAUKOS CORP COM 377322102 83,982 2,897,937 SH   SOLE   2,897,937 0 0
GW PHARMACEUTICALS PLC ADS 36197T103 39,923 325,000 SH   DFND 1 0 0 325,000
HCA HOLDINGS INC COM 40412C101 455,179 5,017,400 SH   DFND 1 2,246,600 0 2,770,800
HEALTH NET INC COM 42222G108 237,385 3,702,200 SH   DFND 1 1,686,700 0 2,015,500
HORIZON PHARMA PLC SHS G4617B105 33,038 951,000 SH   DFND 1 0 0 951,000
ILLUMINA INC COM 452327109 251,332 1,151,000 SH   DFND 1 432,000 0 719,000
IMMUNOGEN INC COM 45253H101 14,811 1,030,000 SH   DFND 1 476,200 0 553,800
IMPAX LABORATORIES INC COM 45256B101 309,464 6,739,200 SH   DFND 1 2,653,500 0 4,085,700
IMPAX LABORATORIES INC COM 45256B101 6,888 150,000 SH Call DFND 1 60,100 0 89,900
INCYTE CORP COM 45337C102 241,194 2,314,500 SH   DFND 1 1,030,500 0 1,284,000
INCYTE CORP NOTE 4.750%10/0 45337CAJ1 32,436 2,742,000 PRN   DFND 1 0 0 2,742,000
INCYTE CORP NOTE 0.375%11/1 45337CAM4 8,622 4,250,000 PRN   DFND 1 1,816,000 0 2,434,000
INCYTE CORP NOTE 1.250%11/1 45337CAN2 8,712 4,250,000 PRN   DFND 1 1,816,000 0 2,434,000
INFINITY PHARMACEUTICALS INC COM 45665G303 48,358 4,416,300 SH   DFND 1 1,742,000 0 2,674,300
INSMED INC COM PAR $.01 457669307 41,722 1,708,500 SH   DFND 1 681,600 0 1,026,900
INSULET CORP COM 45784P101 14,036 453,000 SH   DFND 1 265,000 0 188,000
INSYS THERAPEUTICS INC NEW COM NEW 45824V209 94,218 2,623,000 SH   DFND 1 1,035,600 0 1,587,400
INTERCEPT PHARMACEUTICALS IN COM 45845P108 270,346 1,120,000 SH   SOLE   1,120,000 0 0
INTUITIVE SURGICAL INC COM NEW 46120E602 145,980 301,300 SH   DFND 1 143,300 0 158,000
INVITAE CORP COM 46185L103 6,795 456,666 SH   SOLE   456,666 0 0
IRONWOOD PHARMACEUTICALS INC COM CL A 46333X108 149,574 12,402,500 SH   DFND 1 5,171,700 0 7,230,800
JAZZ PHARMACEUTICALS PLC SHS USD G50871105 20,248 115,000 SH   DFND 1 0 0 115,000
JOHNSON & JOHNSON COM 478160104 60,133 617,000 SH   DFND 1 164,000 0 453,000
LION BIOTECHNOLOGIES INC COM 53619R102 9,373 1,022,100 SH   DFND 1 272,000 0 750,100
LOXO ONCOLOGY INC COM 548862101 39,231 2,175,857 SH   SOLE   2,175,857 0 0
MACROGENICS INC COM 556099109 12,036 317,000 SH   DFND 1 146,800 0 170,200
MAGELLAN HEALTH INC COM NEW 559079207 101,651 1,450,700 SH   DFND 1 588,800 0 861,900
MALLINCKRODT PUB LTD CO SHS G5785G107 93,587 795,000 SH   DFND 1 327,000 0 468,000
MANNKIND CORP COM 56400P201 2,561 450,000 SH Put DFND 1 226,800 0 223,200
MCKESSON CORP COM 58155Q103 161,414 718,000 SH   DFND 1 294,000 0 424,000
MEDIVATION INC COM 58501N101 161,410 1,413,400 SH   DFND 1 510,400 0 903,000
MEDTRONIC PLC SHS G5960L103 47,891 646,300 SH   DFND 1 156,200 0 490,100
MERCK & CO INC NEW COM 58933Y105 23,626 415,000 SH   DFND 1 110,000 0 305,000
MERGE HEALTHCARE INC COM 589499102 15,880 3,308,400 SH   DFND 1 1,158,600 0 2,149,800
MIRATI THERAPEUTICS INC COM 60468T105 21,415 680,500 SH   SOLE   680,500 0 0
MOLINA HEALTHCARE INC COM 60855R100 245,199 3,487,900 SH   DFND 1 1,531,000 0 1,956,900
NEUROCRINE BIOSCIENCES INC COM 64125C109 243,313 5,094,500 SH   DFND 1 1,990,500 0 3,104,000
NUVASIVE INC COM 670704105 70,454 1,487,000 SH   DFND 1 806,000 0 681,000
OPHTHOTECH CORP COM 683745103 87,180 1,674,600 SH   DFND 1 762,000 0 912,600
ORASURE TECHNOLOGIES INC COM 68554V108 8,356 1,550,300 SH   DFND 1 570,900 0 979,400
OREXIGEN THERAPEUTICS INC NOTE 2.750%12/0 686164AB0 4,884 5,210,000 PRN   DFND 1 2,210,000 0 3,000,000
OTONOMY INC COM 68906L105 51,875 2,256,398 SH   SOLE   2,256,398 0 0
PDL BIOPHARMA INC COM 69329Y104 2,443 380,000 SH Call DFND 1 152,300 0 227,700
PERNIX THERAPEUTICS HLDGS IN COM 71426V108 6,352 1,073,000 SH   DFND 1 485,000 0 588,000
PFIZER INC COM 717081103 102,367 3,053,000 SH   DFND 1 810,000 0 2,243,000
PIERIS PHARMACEUTICALS INC COM 720795103 19,964 7,259,620 SH   SOLE   7,259,620 0 0
PORTOLA PHARMACEUTICALS INC COM 737010108 38,749 850,700 SH   DFND 1 475,700 0 375,000
PROQR THRAPEUTICS N V SHS EURO N71542109 30,529 1,831,400 SH   DFND 1 834,500 0 996,900
PTC THERAPEUTICS INC COM 69366J200 2,407 50,000 SH Put DFND 1 20,000 0 30,000
PUMA BIOTECHNOLOGY INC COM 74587V107 109,838 940,800 SH   DFND 1 340,000 0 600,800
QLT INC COM 746927102 2,065 500,000 SH   DFND 1 200,600 0 299,400
RECEPTOS INC COM 756207106 119,370 628,100 SH   DFND 1 205,000 0 423,100
REDHILL BIOPHARMA LTD SPONSORED ADS 757468103 9,948 564,900 SH   SOLE   564,900 0 0
REGENERON PHARMACEUTICALS COM 75886F107 235,578 461,800 SH   DFND 1 186,700 0 275,100
RELYPSA INC COM 759531106 244,866 7,400,000 SH   SOLE   7,400,000 0 0
ROKA BIOSCIENCE INC COM 775431109 8,373 3,220,429 SH   SOLE   3,220,429 0 0
SAGE THERAPEUTICS INC COM 78667J108 10,950 150,000 SH   SOLE   150,000 0 0
SERES THERAPEUTICS INC COM 81750R102 10,236 246,645 SH   SOLE   246,645 0 0
SHIRE PLC SPONSORED ADR 82481R106 315,386 1,306,000 SH   DFND 1 535,000 0 771,000
SIENTRA INC COM 82621J105 80,365 3,185,306 SH   SOLE   3,185,306 0 0
SINOVAC BIOTECH LTD SHS P8696W104 14,004 2,667,500 SH   DFND 1 1,219,500 0 1,448,000
SPARK THERAPEUTICS INC COM 84652J103 10,035 166,500 SH   DFND 1 58,200 0 108,300
SPDR S&P 500 ETF TR TR UNIT 78462F103 41,170 200,000 SH Put DFND 1 80,200 0 119,800
STRYKER CORP COM 863667101 17,776 186,000 SH   DFND 1 51,000 0 135,000
SYNERGY PHARMACEUTICALS DEL COM NEW 871639308 25,906 3,121,148 SH   DFND 1 1,515,700 0 1,605,448
SYNERGY PHARMACEUTICALS DEL COM NEW 871639308 2,075 250,000 SH Call DFND 1 100,200 0 149,800
TESARO INC COM 881569107 121,782 2,071,480 SH   DFND 1 846,200 0 1,225,280
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 18,144 307,000 SH   DFND 1 82,000 0 225,000
THERMO FISHER SCIENTIFIC INC COM 883556102 181,924 1,402,000 SH   DFND 1 591,000 0 811,000
TORNIER N V SHS N87237108 120,077 4,805,000 SH   DFND 1 2,100,000 0 2,705,000
UNITEDHEALTH GROUP INC COM 91324P102 29,036 238,000 SH   DFND 1 63,000 0 175,000
VALEANT PHARMACEUTICALS INTL COM 91911K102 36,655 165,000 SH   DFND 1 44,000 0 121,000
VERTEX PHARMACEUTICALS INC COM 92532F100 14,200 115,000 SH   DFND 1 0 0 115,000
VITAL THERAPIES INC COM 92847R104 1,583 75,000 SH Put DFND 1 30,100 0 44,900
WRIGHT MED GROUP INC COM 98235T107 87,630 3,337,000 SH   DFND 1 1,631,000 0 1,706,000
XENCOR INC COM 98401F105 22,950 1,044,615 SH   DFND 1 0 0 1,044,615
XENOPORT INC COM 98411C100 35,360 5,768,400 SH   DFND 1 2,321,000 0 3,447,400
ZIMMER BIOMET HLDGS INC COM 98956P102 23,190 212,300 SH   DFND 1 90,500 0 121,800