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
AbbVie Inc. Common 00287Y109 9 156 SH   SOLE   156 0 0
ACADIA Pharmaceuticals Inc. Common 004225108 22,727 637,500 SH   SOLE   637,500 0 0
Accelerate Diagnostics, Inc. Common 00430H102 5,687 264,625 SH   SOLE   264,625 0 0
Adaptimmune Therapeutics plc Sponsored ADR 00653A107 3,581 296,934 SH   SOLE   296,934 0 0
Aegerion Pharmaceuticals, Inc. Note 2.00% 8/15/19 00767EAB8 8,629 13,000,000 PRN   SOLE   13,000,000 0 0
Affimed NV Common N01045108 2,095 294,213 SH   SOLE   294,213 0 0
Agilent Technologies, Inc. Common 00846U101 30,465 728,650 SH   SOLE   728,650 0 0
Akorn, Inc. Common 009728106 5,419 145,235 SH   SOLE   145,235 0 0
Alere Inc. Common 01449J105 11,645 297,901 SH   SOLE   297,901 0 0
Alexion Pharmaceuticals, Inc. Common 015351109 121,471 636,805 SH   SOLE   636,805 0 0
Alkermes plc Shares G01767105 40,519 510,444 SH   SOLE   510,444 0 0
Allergan plc Shares G0177J108 127,996 409,586 SH   SOLE   409,586 0 0
Allergan plc Preferred Convertible G0177J116 5,151 5,000 SH   SOLE   5,000 0 0
Alliqua BioMedical, Inc. Common 019621200 3,531 1,650,000 SH   SOLE   1,650,000 0 0
Allscripts Healthcare Solutions, Inc. Common 01988P108 2,670 173,600 SH   SOLE   173,600 0 0
Alnylam Pharmaceuticals, Inc. Common 02043Q107 12,944 137,495 SH   SOLE   137,495 0 0
Amgen Inc. Common 031162100 52,212 321,640 SH   SOLE   321,640 0 0
Anacor Pharmaceuticals, Inc. Common 032420101 12,431 110,038 SH   SOLE   110,038 0 0
ARCA biopharma, Inc. Common 00211Y407 3,772 811,227 SH   SOLE   811,227 0 0
Ardelyx, Inc. Common 039697107 11,585 639,370 SH   SOLE   639,370 0 0
Auris Medical Holding AG Common H03579101 6,202 1,268,263 SH   SOLE   1,268,263 0 0
Baxalta Inc. Common 07177M103 12,474 319,600 SH   SOLE   319,600 0 0
Baxter International Inc. Common 071813109 12,193 319,600 SH   SOLE   319,600 0 0
Bellicum Pharmaceuticals, Inc. Common 079481107 1,216 60,000 SH   SOLE   60,000 0 0
Biogen Inc. Common 09062X103 138,021 450,533 SH   SOLE   450,533 0 0
BioMarin Pharmaceutical Inc. Common 09061G101 62,452 596,145 SH   SOLE   596,145 0 0
bluebird bio, Inc. Common 09609G100 3,169 49,345 SH   SOLE   49,345 0 0
Bristol-Myers Squibb Co. Common 110122108 13,937 202,600 SH   SOLE   202,600 0 0
Care Capital Properties, Inc. Common 141624106 2,578 84,316 SH   SOLE   84,316 0 0
Celgene Corporation Common 151020104 205,225 1,713,634 SH   SOLE   1,713,634 0 0
Celldex Therapeutics, Inc. Common 15117B103 1,659 105,800 SH   SOLE   105,800 0 0
Cellectis S.A. Sponsored ADS 15117K103 6,431 207,250 SH   SOLE   207,250 0 0
Centene Corporation Common 15135B101 7,897 120,000 SH   SOLE   120,000 0 0
Cepheid, Inc. Common 15670R107 12,186 333,590 SH   SOLE   333,590 0 0
Cepheid, Inc. Note 1.25% 2/1/21 15670RAC1 8,894 10,000,000 PRN   SOLE   10,000,000 0 0
Chimerix, Inc. Common 16934W106 428 47,800 SH   SOLE   47,800 0 0
Cidara Therapeutics, Inc. Common 171757107 901 52,500 SH   SOLE   52,500 0 0
Community Health Systems, Inc. Common 203668108 8,078 304,472 SH   SOLE   304,472 0 0
Corsicanto Ltd Note 3.50% 1/15/32 220480AB3 13,304 14,700,000 PRN   SOLE   14,700,000 0 0
Cynapsus Therapeutics, Inc. Common 23257Y859 2,785 180,407 SH   SOLE   180,407 0 0
CytomX Therapeutics, Inc. Common 23284F105 6,847 328,059 SH   SOLE   328,059 0 0
DBV Technologies S.A. Sponsored ADR 23306J101 2,382 65,600 SH   SOLE   65,600 0 0
Depomed Inc. Common 249908104 3,626 200,000 SH   SOLE   200,000 0 0
Dynavax Technologies Corporation Common 268158201 6,644 275,000 SH   SOLE   275,000 0 0
Eli Lilly & Co Common 532457108 7,218 85,667 SH   SOLE   85,667 0 0
Endo International plc Shares G30401106 17,530 286,348 SH   SOLE   286,348 0 0
Endologix Inc. Common 29266S106 5,455 551,000 SH   SOLE   551,000 0 0
Esperion Therapeutics, Inc. Common 29664W105 2,288 102,800 SH   SOLE   102,800 0 0
Exelixis, Inc. Common 30161Q104 5,775 1,023,877 SH   SOLE   1,023,877 0 0
Flamel Technologies SA Sponsored ADR 338488109 5,791 474,288 SH   SOLE   474,288 0 0
Flex Pharm, Inc. Common 33938A105 2,896 232,600 SH   SOLE   232,600 0 0
Foamix Pharmaceuticals Ltd. Shares M46135105 5,289 652,145 SH   SOLE   652,145 0 0
Forward Pharma A/S Sponsored ADR 34986J105 2,594 136,547 SH   SOLE   136,547 0 0
Galapagos NV Sponsored ADR 36315X101 1,258 20,000 SH   SOLE   20,000 0 0
GenMark Diagnostics, Inc. Common 372309104 724 93,349 SH   SOLE   93,349 0 0
Gilead Sciences, Inc. Common 375558103 235,897 2,331,231 SH   SOLE   2,331,231 0 0
Gilead Sciences, Inc. Common ADI0JQKQ6 27 278 SH Call SOLE   278 0 0
GlaxoSmithKline plc Sponsored ADR 37733W105 11,500 285,000 SH   SOLE   285,000 0 0
Grifols SA Sponsored ADR 398438408 2,689 83,000 SH   SOLE   83,000 0 0
GW Pharmaceuticals plc ADS 36197T103 2,083 30,000 SH   SOLE   30,000 0 0
Halozyme Therapeutics, Inc. Common 40637H109 3,466 200,000 SH   SOLE   200,000 0 0
HCA Holdings, Inc. Common 40412C101 30,331 448,488 SH   SOLE   448,488 0 0
Healthcare Realty Trust, Inc. Common 421946104 5,302 187,224 SH   SOLE   187,224 0 0
Heron Therapeutics, Inc. Common 427746102 5,847 219,000 SH   SOLE   219,000 0 0
Horizon Pharma plc Common G4617B105 16,250 749,900 SH   SOLE   749,900 0 0
Humana Inc. Common 444859102 23,081 129,300 SH   SOLE   129,300 0 0
ICON plc Shares G4705A100 8,928 114,900 SH   SOLE   114,900 0 0
IDEXX Laboratories, Inc. Common 45168D104 9,651 132,352 SH   SOLE   132,352 0 0
Illumina Inc. Common 452327109 83,370 434,341 SH   SOLE   434,341 0 0
Impax Laboratories, Inc. Common 45256B101 14,739 344,683 SH   SOLE   344,683 0 0
Incyte Corporation Common 45337C102 95,486 880,461 SH   SOLE   880,461 0 0
Inotek Pharmaceuticals Corporation Common 45780V102 4,815 425,000 SH   SOLE   425,000 0 0
Insmed Incorporated Common 457669307 2,842 156,600 SH   SOLE   156,600 0 0
Intra-Cellular Therapies, Inc. Common 46116X101 10,102 187,800 SH   SOLE   187,800 0 0
Ishares Nasdaq Biotechnology ETF ETF 464287556 19,511 57,670 SH   SOLE   57,670 0 0
Johnson & Johnson Common 478160104 96,658 940,988 SH   SOLE   940,988 0 0
Juno Therapeutics, Inc. Common 48205A109 8,003 182,000 SH   SOLE   182,000 0 0
Karyopharm Therapeutics Inc. Common 48576U106 6,629 500,324 SH   SOLE   500,324 0 0
Kite Pharma, Inc. Common 49803L109 2,526 41,000 SH   SOLE   41,000 0 0
Lexicon Pharmaceuticals, Inc. Common 528872302 2,631 197,641 SH   SOLE   197,641 0 0
LTC Properties Inc. Common 502175102 10,208 236,618 SH   SOLE   236,618 0 0
Mallinckrodt plc Shares G5785G107 4,620 61,900 SH   SOLE   61,900 0 0
McKesson Corporation Common 58155Q103 16,343 82,862 SH   SOLE   82,862 0 0
Medical Properties Trust, Inc. Common 58463J304 18,002 1,564,060 SH   SOLE   1,564,060 0 0
Medivation, Inc. Common 58501N101 32,257 667,300 SH   SOLE   667,300 0 0
Medtronic PLC Shares G5960L103 9,565 124,344 SH   SOLE   124,344 0 0
Merck & Co., Inc. Common 58933Y105 35,976 681,097 SH   SOLE   681,097 0 0
Merrimack Pharmaceuticals, Inc. Note 4.50% 7/15/20 590328AA8 2,199 1,485,000 PRN   SOLE   1,485,000 0 0
Merrimack Pharmaceuticals, Inc. Common 590328100 6,745 853,787 SH   SOLE   853,787 0 0
Molina Healthcare, Inc. Common 60855R100 20,919 347,901 SH   SOLE   347,901 0 0
Momenta Pharmaceuticals, Inc. Common 60877T100 2,281 153,700 SH   SOLE   153,700 0 0
Mylan NV Shares Euro N59465109 28,725 531,252 SH   SOLE   531,252 0 0
Natera, Inc. Common 632307104 9,529 882,358 SH   SOLE   882,358 0 0
Neurocrine Biosciences, Inc. Common 64125C109 17,619 311,460 SH   SOLE   311,460 0 0
Nevro Corp. Common 64157F103 1,688 25,000 SH   SOLE   25,000 0 0
Novartis AG Sponsored ADR 66987V109 7,976 92,700 SH   SOLE   92,700 0 0
Novavax, Inc. Common 670002104 3,004 358,000 SH   SOLE   358,000 0 0
Novo Nordisk A/S ADR 670100205 17,110 294,600 SH   SOLE   294,600 0 0
Omega Healthcare Investors Inc. Common 681936100 14,451 413,116 SH   SOLE   413,116 0 0
Paratek Pharmaceuticals, Inc. Common 699374302 14,466 762,581 SH   SOLE   762,581 0 0
Perrigo Company plc Shares G97822103 5,397 37,300 SH   SOLE   37,300 0 0
Pfizer Inc. Common 717081103 58,178 1,802,291 SH   SOLE   1,802,291 0 0
Physicians Realty Trust Common 71943U104 20,751 1,230,772 SH   SOLE   1,230,772 0 0
Pieris Pharmaceuticals, Inc. Common 720795103 8,812 3,848,191 SH   SOLE   3,848,191 0 0
Puma Biotechnology, Inc. Common 74587V107 20,400 260,200 SH   SOLE   260,200 0 0
Regeneron Pharmaceuticals, Inc. Common 75886F107 83,746 154,266 SH   SOLE   154,266 0 0
Retrophin, Inc. Common 761299106 6,365 329,949 SH   SOLE   329,949 0 0
The RMR Group Inc., Class A Common 74967R106 107 7,441 SH   SOLE   7,441 0 0
Sabra Health Care REIT Inc. Common 78573L106 9,229 456,190 SH   SOLE   456,190 0 0
Sage Therapeutics, Inc. Common 78667J108 5,702 97,800 SH   SOLE   97,800 0 0
Sagent Pharmaceuticals, Inc. Common 786692103 4,561 286,650 SH   SOLE   286,650 0 0
Sanofi Sponsored ADR 80105N105 13,008 305,000 SH   SOLE   305,000 0 0
Senior Housing Properties Trust Common 81721M109 9,950 670,504 SH   SOLE   670,504 0 0
Shire plc Sponsored ADR 82481R106 35,222 171,813 SH   SOLE   171,813 0 0
St. Jude Medical, Inc. Common 790849103 15,801 255,810 SH   SOLE   255,810 0 0
Stryker Corporation Common 863667101 11,519 123,940 SH   SOLE   123,940 0 0
Supernus Pharmaceuticals, Inc. Note 7.50% 5/1/19 868459AB4 5,356 2,000,000 PRN   SOLE   2,000,000 0 0
Tenet Healthcare Corporation Common 88033G407 4,984 164,500 SH   SOLE   164,500 0 0
Tetraphase Pharmaceuticals Inc. Common 88165N105 1,929 192,322 SH   SOLE   192,322 0 0
Teva Pharmaceutical Industries Ltd. ADR 881624209 87,579 1,334,237 SH   SOLE   1,334,237 0 0
The Medicines Company Common 584688105 15,010 401,970 SH   SOLE   401,970 0 0
Thermo Fisher Scientific Inc. Common 883556102 12,255 86,395 SH   SOLE   86,395 0 0
Ultragenyx Pharmaceutical Inc. Common 90400D108 9,917 88,400 SH   SOLE   88,400 0 0
UniQure NV Shares N90064101 2,903 175,500 SH   SOLE   175,500 0 0
United Therapeutics Corporation Common 91307C102 14,580 93,100 SH   SOLE   93,100 0 0
UnitedHealth Group, Inc. Common 91324P102 48,127 409,100 SH   SOLE   409,100 0 0
Universal Health Services, Inc. Common 913903100 8,400 70,300 SH   SOLE   70,300 0 0
Ventas, Inc. Common 92276F100 20,838 369,266 SH   SOLE   369,266 0 0
Vertex Pharmaceuticals Incorporated Common 92532F100 130,046 1,033,503 SH   SOLE   1,033,503 0 0
WellCare Health Plans, Inc. Common 94946T106 6,933 88,652 SH   SOLE   88,652 0 0
Welltower, Inc. Preferred Convertible 95040Q203 12,182 200,000 PRN   SOLE   200,000 0 0
Xencor, Inc. Common 98401F105 292 20,000 SH   SOLE   20,000 0 0
Zafgen, Inc. Common 98885E103 84 13,307 SH   SOLE   13,307 0 0
Zimmer Biomet Holdings, Inc. Common 98956P102 10,495 102,300 SH   SOLE   102,300 0 0