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 24,962 472,672 SH   SOLE   161,672 0 311,000
ACCELERON PHARMA COMMON 00434H108 389 9,827 SH   SOLE   9,827 0 0
ACCURAY INC COMMON 004397105 7,555 868,386 SH   SOLE   285,141 0 583,245
ACTAVIS PLC SHS G0083B108 51,601 307,150 SH   SOLE   297,605 0 9,545
AKORN INC COMMON 009728106 21,850 887,482 SH   SOLE   860,082 0 27,400
ALEXION PHARM INC COMMON 015351109 65,951 496,308 SH   SOLE   460,800 0 35,508
ALIGN TECH INC COMMON 016255101 18,345 321,047 SH   SOLE   110,679 0 210,368
ALLERGAN INC COMMON 018490102 62,353 561,333 SH   SOLE   383,833 0 177,500
AMGEN INC COMMON 031162100 144,041 1,262,633 SH   SOLE   1,047,982 0 214,651
BIOGEN IDEC INC COMMON 09062X103 152,248 544,575 SH   SOLE   451,575 0 93,000
BIOMARIN PHARMAC INC COMMON 09061G101 50,216 713,806 SH   SOLE   665,600 0 48,206
BOSTON SCIENTIFIC COMMON 101137107 25,261 2,101,605 SH   SOLE   704,247 0 1,397,358
CELGENE CORP COMMON 151020104 119,365 706,436 SH   SOLE   657,100 0 49,336
CELLDEX THERAPEUTICS COMMON 15117B103 53,932 2,227,688 SH   SOLE   1,851,888 0 375,800
CLOVIS ONCOLOGY COMMON 189464100 28,472 472,400 SH   SOLE   437,400 0 35,000
COVIDIEN PLC SHS G2554F113 24,685 362,479 SH   SOLE   121,925 0 240,554
DEXCOM INC COMMON 252131107 5,673 160,217 SH   SOLE   71,021 0 89,196
DR REDDYS LABS LTD ADR 256135203 17,815 434,190 SH   SOLE   415,904 0 18,286
GILEAD SCIENCES INC COMMON 375558103 145,812 1,941,573 SH   SOLE   1,748,757 0 192,816
HALOZYME THERAPEUTIC COMMON 40637H109 70,473 4,701,362 SH   SOLE   4,202,962 0 498,400
HEARTWARE INTL INC COMMON 422368100 15,557 165,675 SH   SOLE   55,535 0 110,140
HOLOGIC INC COMMON 436440101 5,352 239,485 SH   SOLE   106,058 0 133,427
ILLUMINA INC COMMON 452327109 23,300 210,689 SH   SOLE   195,289 0 15,400
IMMUNOGEN INC COMMON 45253H101 51,540 3,513,282 SH   SOLE   2,964,955 0 548,327
INCYTE CORPORATION COMMON 45337C102 60,010 1,185,260 SH   SOLE   1,125,060 0 60,200
INSMED INC COMMON 457669307 25,366 1,492,121 SH   SOLE   1,389,121 0 103,000
INTUITIVE SURGIC INC COMMON 46120E602 25,244 65,725 SH   SOLE   22,186 0 43,539
IRONWOOD PHARMACEUCL COM CL A 46333X108 59,037 5,084,999 SH   SOLE   3,943,762 0 1,141,237
ISIS PHARMACEUTICALS COMMON 464330109 48,700 1,222,401 SH   SOLE   1,138,301 0 84,100
KARYOPHARM THERAPE COMMON 48576U106 802 35,000 SH   SOLE   35,000 0 0
KERYX BIOPHARMACEUT COMMON 492515101 35,728 2,758,950 SH   SOLE   2,093,449 0 665,501
MALLINCKRODT PLC SHS G5785G107 23,745 454,364 SH   SOLE   439,864 0 14,500
MEDIVATION INC COMMON 58501N101 24,811 388,760 SH   SOLE   362,110 0 26,650
MERCK & CO INC COMMON 58933Y105 54,789 1,094,683 SH   SOLE   356,105 0 738,578
MOMENTA PHARMACEUTIC COMMON 60877T100 15,818 894,696 SH   SOLE   864,596 0 30,100
MYLAN INC COMMON 628530107 59,402 1,368,707 SH   SOLE   1,042,999 0 325,708
NOVARTIS AG SP ADR 66987V109 973 12,100 SH   SOLE   12,100 0 0
NOVO-NORDISK AS ADR 670100205 3,718 20,126 SH   SOLE   14,253 0 5,873
NPS PHARMACEUTICALS COMMON 62936P103 53,887 1,774,919 SH   SOLE   1,633,519 0 141,400
NXSTAGE MEDICAL COMMON 67072V103 7,534 753,434 SH   SOLE   268,810 0 484,624
ONCOMED PHARMACEUT COMMON 68234X102 36,015 1,220,006 SH   SOLE   1,137,906 0 82,100
PERRIGO CO COMMON G97822103 50,223 327,268 SH   SOLE   317,042 0 10,226
PHARMACYCLICS INC COMMON 716933106 17,816 168,425 SH   SOLE   156,725 0 11,700
PORTOLA PHARMACEUTIC COMMON 737010108 25,797 1,001,814 SH   SOLE   754,623 0 247,191
PTC THERAPEUTICS I COMMON 69366J200 976 57,519 SH   SOLE   57,519 0 0
REGENERON PHARMCTCLS COMMON 75886F107 75,966 276,000 SH   SOLE   256,600 0 19,400
RELYPSA INC COMMON 759531106 1,250 50,000 SH   SOLE   50,000 0 0
SAGENT PHARMACEUTI COMMON 786692103 17,505 689,729 SH   SOLE   666,829 0 22,900
SEATTLE GENETICS INC COMMON 812578102 16,854 422,519 SH   SOLE   392,969 0 29,550
SHIRE PLC SP ADR 82481R106 66,231 468,759 SH   SOLE   376,419 0 92,340
SYNAGEVA BIOPHARMA COMMON 87159A103 47,828 739,005 SH   SOLE   581,154 0 157,851
TANDEM DIABETES CA COMMON 875372104 515 20,000 SH   SOLE   20,000 0 0
TEVA PHARMACEUTICAL ADR 881624209 24,595 613,649 SH   SOLE   594,447 0 19,202
THERAVANCE INC COMMON 88338T104 70,344 1,973,188 SH   SOLE   1,838,088 0 135,100
THERMO FISHER SCI COMMON 883556102 57,523 516,600 SH   SOLE   481,100 0 35,500
TORNIER N V SHS N87237108 10,773 573,321 SH   SOLE   209,269 0 364,052
UNITED THERAPEUTICS COMMON 91307C102 20,581 182,000 SH   SOLE   182,000 0 0
VERTEX PHARMACEUTICL COMMON 92532F100 91,549 1,232,158 SH   SOLE   1,024,587 0 207,571
WUXI PHAR ADS SP ADR 929352102 230 6,000 SH   SOLE   0 0 6,000