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 27,795 481,219 SH   SOLE   481,219 0 0
Accuray, Inc. Common 004397105 5,314 731,943 SH   SOLE   731,943 0 0
Acorda Therapeutics, Inc. Common 00484M106 9,255 273,162 SH   SOLE   273,162 0 0
Acorda Therapeutics, Inc. Common 00484M106 1,606 47,400 SH Call SOLE   47,400 0 0
Actavis plc Shares G0083B108 66,987 277,631 SH   SOLE   277,631 0 0
Aetna, Inc. Common 00817Y108 31,512 389,031 SH   SOLE   389,031 0 0
Agios Pharmaceuticals, Inc. Common 00847X104 2,147 35,000 SH   SOLE   35,000 0 0
Akorn, Inc. Common 009728106 25,367 699,382 SH   SOLE   699,382 0 0
Alere, Inc. Common 01449J105 11,553 297,901 SH   SOLE   297,901 0 0
Alexion Pharmaceuticals, Inc. Common 015351109 74,935 451,905 SH   SOLE   451,905 0 0
Alexion Pharmaceuticals, Inc. Common 015351109 4,444 26,800 SH Call SOLE   26,800 0 0
Align Technology, Inc. Common 016255101 3,638 70,400 SH   SOLE   70,400 0 0
Alkermes plc Shares G01767105 18,733 436,970 SH   SOLE   436,970 0 0
Allergan Inc. Common 018490102 40,668 228,227 SH   SOLE   228,227 0 0
Alnylam Pharmaceuticals, Inc. Common 02043Q107 4,811 61,595 SH   SOLE   61,595 0 0
Amarin Corporation plc Sponsored ADR 023111206 6,151 5,643,412 SH   SOLE   5,643,412 0 0
Amgen Inc. Common 031162100 71,640 510,042 SH   SOLE   510,042 0 0
BioDelivery Sciences International, Inc. Common 09060J106 8,572 501,553 SH   SOLE   501,553 0 0
Biogen Idec, Inc. Common 09062X103 61,790 186,783 SH   SOLE   186,783 0 0
Biogen Idec, Inc. Common 09062X103 4,234 12,800 SH Call SOLE   12,800 0 0
BioMarin Pharmaceutical Inc. Common 09061G101 51,272 710,527 SH   SOLE   710,527 0 0
bluebird Bio, Inc. Common 09609G100 6,205 172,927 SH   SOLE   172,927 0 0
bluebird Bio, Inc. Common 09609G100 4,248 118,400 SH Call SOLE   118,400 0 0
Bristol-Myers Squibb Co. Common 110122108 27,394 535,240 SH   SOLE   535,240 0 0
Catamaran Corporation Common 148887102 18,276 433,600 SH   SOLE   433,600 0 0
Celgene Corporation Common 151020104 193,013 2,036,434 SH   SOLE   2,036,434 0 0
Celgene Corporation Common 151020104 17,136 180,800 SH Call SOLE   180,800 0 0
Celladon Corporation Common 15117E107 9,644 970,495 SH   SOLE   970,495 0 0
Celldex Therapeutics, Inc. Common 15117B103 6,589 508,400 SH   SOLE   508,400 0 0
Celldex Therapeutics, Inc. Common 15117B103 6,589 508,400 SH Call SOLE   508,400 0 0
Centene Corporation Common 15135B101 4,963 60,000 SH   SOLE   60,000 0 0
Cigna Corp Common 125509109 11,087 122,251 SH   SOLE   122,251 0 0
Clovis Oncology, Inc. Common 189464100 4,720 104,051 SH   SOLE   104,051 0 0
Community Health Systems, Inc. Common 203668108 8,474 154,672 SH   SOLE   154,672 0 0
Corsicanto Ltd. Note 3.5% 1/15/32 220480AB3 5,786 8,700,000 PRN   SOLE   8,700,000 0 0
Cubist Pharmaceuticals, Inc. Common 229678107 32,802 494,454 SH   SOLE   494,454 0 0
Eli Lilly & Co Common 532457108 12,122 186,918 SH   SOLE   186,918 0 0
Endo International PLC Shares G30401106 22,977 336,215 SH   SOLE   336,215 0 0
Endologix Inc. Common 29266S106 5,841 551,000 SH   SOLE   551,000 0 0
Epizyme, Inc. Common 29428V104 3,830 141,262 SH   SOLE   141,262 0 0
Gilead Sciences, Inc. Common 375558103 265,117 2,490,531 SH   SOLE   2,490,531 0 0
Gilead Sciences, Inc. Common 375558103 17,128 160,900 SH Call SOLE   160,900 0 0
HCA Holdings, Inc. Common 40412C101 8,158 115,688 SH   SOLE   115,688 0 0
Health Care REIT Inc. Common 42217K601 11,436 200,000 PRN   SOLE   200,000 0 0
Heron Therapeutics, Inc. Common 427746102 7,280 873,940 SH   SOLE   873,940 0 0
IDEXX Laboratories, Inc. Common 45168D104 6,630 56,265 SH   SOLE   56,265 0 0
Illumina, Inc. Common 452327109 37,594 229,341 SH   SOLE   229,341 0 0
Illumina, Inc. Common 452327109 3,869 23,600 SH Call SOLE   23,600 0 0
Impax Laboratories, Inc. Common 45256B101 23,480 990,283 SH   SOLE   990,283 0 0
Impax Laboratories, Inc. Common 45256B101 7,649 322,600 SH Call SOLE   322,600 0 0
Incyte Corporation Common 45337C102 56,013 1,141,961 SH   SOLE   1,141,961 0 0
Incyte Corporation Common 45337C102 4,586 93,500 SH Call SOLE   93,500 0 0
Infinity Pharmaceuticals, Inc. Common 45665G303 9,136 680,746 SH   SOLE   680,746 0 0
IntelliPharmaceutics International Inc. Common 458173101 4,226 1,404,000 SH   SOLE   1,404,000 0 0
Ironwood Pharmaceuticals, Inc. Common 46333X108 9,950 768,050 SH   SOLE   768,050 0 0
Ishares Nasdaq Biotechnology ETF ETF 464287556 21,719 79,375 SH   SOLE   79,375 0 0
Jazz Pharmaceuticals plc Shares G50871105 27,816 173,241 SH   SOLE   173,241 0 0
Johnson & Johnson Common 478160104 34,878 327,212 SH   SOLE   327,212 0 0
Karyopharm Therapeutics Inc. Common 48576U106 3,563 101,966 SH   SOLE   101,966 0 0
KYTHERA Biopharmaceuticals Inc. Common 501570105 3,651 111,433 SH   SOLE   111,433 0 0
Ligand Pharmaceuticals Inc. Common 53220K504 3,252 69,200 SH   SOLE   69,200 0 0
LTC Properties Inc. Common 502175102 8,729 236,618 SH   SOLE   236,618 0 0
Macrogenics, Inc. Common 556099109 666 31,857 SH   SOLE   31,857 0 0
McKesson Corporation Common 58155Q103 13,211 67,862 SH   SOLE   67,862 0 0
Medical Properties Trust Inc. Common 58463J304 7,690 627,274 SH   SOLE   627,274 0 0
MEI Pharma, Inc. Common 55279B202 1,683 243,920 SH   SOLE   243,920 0 0
Merrimack Pharmaceuticals, Inc. Note 4.50% 7/15/20 590328AA8 2,308 1,485,000 PRN   SOLE   1,485,000 0 0
Merrimack Pharmaceuticals, Inc. Common 590328100 4,985 567,787 SH   SOLE   567,787 0 0
Molina Healthcare, Inc. Common 60855R100 14,716 347,901 SH   SOLE   347,901 0 0
Momenta Pharmaceuticals, Inc. Common 60877T100 12,106 1,067,575 SH   SOLE   1,067,575 0 0
Mylan, Inc. Common 628530107 45,950 1,010,105 SH   SOLE   1,010,105 0 0
Myriad Genetics, Inc. Common 62855J104 4,328 112,200 SH   SOLE   112,200 0 0
Myriad Genetics, Inc. Common 62855J104 4,328 112,200 SH Call SOLE   112,200 0 0
Nektar Therapeutics Common 640268108 4,041 334,800 SH   SOLE   334,800 0 0
Nektar Therapeutics Common 640268108 4,041 334,800 SH Call SOLE   334,800 0 0
Neurocrine Biosciences, Inc. Common 64125C109 20,088 1,281,950 SH   SOLE   1,281,950 0 0
Neurocrine Biosciences, Inc. Common 64125C109 4,413 281,600 SH Call SOLE   281,600 0 0
NPS Pharmaceuticals, Inc. Common 62936P103 6,211 238,900 SH   SOLE   238,900 0 0
NPS Pharmaceuticals, Inc. Common 62936P103 4,056 156,000 SH Call SOLE   156,000 0 0
Omega Healthcare Investors Inc. Common 681936100 8,637 252,616 SH   SOLE   252,616 0 0
OncoGenex Pharmaceuticals, Inc. Common 68230A106 302 113,100 SH   SOLE   113,100 0 0
PerkinElmer, Inc. Common 714046109 7,216 165,495 SH   SOLE   165,495 0 0
Perrigo Company plc Shares G97822103 9,455 62,952 SH   SOLE   62,952 0 0
Pfizer, Inc. Common 717081103 56,249 1,902,241 SH   SOLE   1,902,241 0 0
Physicians Realty Trust Common 71943U104 9,216 671,702 SH   SOLE   671,702 0 0
PTC Therapeutics, Inc. Common 69366J200 3,483 79,150 SH   SOLE   79,150 0 0
Regeneron Pharmaceuticals, Inc. Common 75886F107 67,477 187,166 SH   SOLE   187,166 0 0
Sabra Health Care REIT Inc. Common 78573L106 8,351 343,390 SH   SOLE   343,390 0 0
Sage Therapeutics, Inc. Common 78667J108 158 5,000 SH   SOLE   5,000 0 0
Sagent Pharmaceuticals, Inc. Common 786692103 12,587 404,731 SH   SOLE   404,731 0 0
Sangamo BioSciences, Inc. Common 800677106 8,090 750,100 SH   SOLE   750,100 0 0
Sarepta Therapeutics Inc. Common 803607100 7,288 345,400 SH   SOLE   345,400 0 0
Sarepta Therapeutics Inc. Common 803607100 7,288 345,400 SH Call SOLE   345,400 0 0
Senior Housing Properties Trust Shares 81721M109 8,567 409,504 SH   SOLE   409,504 0 0
Shire plc Sponsored ADR 82481R106 31,947 123,322 SH   SOLE   123,322 0 0
St Jude Medical, Inc. Common 790849103 7,367 122,510 SH   SOLE   122,510 0 0
Stryker Corporation Common 863667101 7,739 95,840 SH   SOLE   95,840 0 0
Synageva BioPharma Corp. Common 87159A103 15,339 223,020 SH   SOLE   223,020 0 0
Teva Pharmaceutical Industries Ltd. Common 881624209 3,687 68,600 SH Call SOLE   68,600 0 0
Teva Pharmaceutical Industries Ltd. ADR 881624209 35,055 652,194 SH   SOLE   652,194 0 0
Thermo Fisher Scientific Inc. Common 883556102 32,479 266,875 SH   SOLE   266,875 0 0
Thoratec Corporation Common 885175307 3,029 113,300 SH   SOLE   113,300 0 0
UnitedHealth Group, Inc. Common 91324P102 7,175 83,186 SH   SOLE   83,186 0 0
Ventas Inc. Common 92276F100 8,449 136,382 SH   SOLE   136,382 0 0
Verastem, Inc. Common 92337C104 9,797 1,149,827 SH   SOLE   1,149,827 0 0
Vertex Pharmaceuticals, Inc. Common 92532F100 78,835 701,944 SH   SOLE   701,944 0 0
WellCare Health Plans Inc. Common 94946T106 5,349 88,652 SH   SOLE   88,652 0 0
Zimmer Holdings, Inc. Common 98956P102 8,024 79,800 SH   SOLE   79,800 0 0