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
Accuray, Inc. Common 004397105 4,201 731,943 SH   SOLE   731,943 0 0
Acorda Therapeutics, Inc. Common 00484M106 3,724 112,881 SH   SOLE   112,881 0 0
Actavis, Inc. Common 00507K103 11,549 91,500 SH   SOLE   91,500 0 0
Aetna, Inc. Common 00817Y108 12,533 197,241 SH   SOLE   197,241 0 0
Akorn, Inc. Common 009728106 12,651 935,758 SH   SOLE   935,758 0 0
Alere, Inc. Common 01449J105 7,756 316,553 SH   SOLE   316,553 0 0
Alexion Pharmaceuticals, Inc. Common 015351109 34,251 371,329 SH   SOLE   371,329 0 0
Alkermes plc Shares G01767105 5,589 194,870 SH   SOLE   194,870 0 0
Allergan, Inc. Common 018490102 7,841 93,077 SH   SOLE   93,077 0 0
Amarin Corporation plc Sponsored ADR 023111206 7,901 1,362,298 SH   SOLE   1,362,298 0 0
Amgen, Inc. Common 031162100 19,746 200,143 SH   SOLE   200,143 0 0
ARIAD Pharmaceuticals, Inc. Common 04033A100 7,223 412,965 SH   SOLE   412,965 0 0
Auxilium Pharmaceuticals, Inc. Common 05334D107 2,121 127,520 SH   SOLE   127,520 0 0
Baxter International, Inc. Common 071813109 5,381 77,675 SH   SOLE   77,675 0 0
Biogen Idec, Inc. Common 09062X103 41,315 191,983 SH   SOLE   191,983 0 0
BioMarin Pharmaceutical Inc. Common 09061G101 4,184 75,000 SH   SOLE   75,000 0 0
Celgene Corporation Common 151020104 59,629 510,046 SH   SOLE   510,046 0 0
Ceres, Inc. Common 156773103 1,304 416,481 SH   SOLE   416,481 0 0
Cornerstone Therapeutics, Inc. Common 21924P103 529 66,112 SH   SOLE   66,112 0 0
Cubist Pharmaceuticals, Inc. Common 229678107 12,846 265,972 SH   SOLE   265,972 0 0
CVS Caremark Corporation Common 126650100 4,094 71,591 SH   SOLE   71,591 0 0
Dendreon Corporation Common 24823Q107 1,552 376,728 SH   SOLE   376,728 0 0
Elan Corporation plc ADR 284131208 3,429 242,500 SH   SOLE   242,500 0 0
Endo Pharmaceutical Holdings, Inc. Common 29264F205 4,643 126,215 SH   SOLE   126,215 0 0
Endocyte, Inc. Common 29269A102 790 60,200 SH   SOLE   60,200 0 0
Forest Laboratories, Inc. Common 345838106 6,007 146,500 SH   SOLE   146,500 0 0
Gilead Sciences, Inc. Common 375558103 77,056 1,504,712 SH   SOLE   1,504,712 0 0
Hologic, Inc. Common 436440101 11,443 592,915 SH   SOLE   592,915 0 0
iCAD, Inc. Common 44934S206 531 88,527 SH   SOLE   88,527 0 0
IDEXX Laboratories, Inc. Common 45168D104 5,051 56,265 SH   SOLE   56,265 0 0
Illumina, Inc. Common 452327109 7,771 103,841 SH   SOLE   103,841 0 0
Immunogen, Inc. Common 45253H101 6,533 393,773 SH   SOLE   393,773 0 0
Impax Laboratories, Inc. Common 45256B101 6,876 344,683 SH   SOLE   344,683 0 0
Incyte Corporation Common 45337C102 9,269 421,300 SH   SOLE   421,300 0 0
IntelliPharmaCeutics International, Inc. Common 458173101 2,811 1,735,000 SH   SOLE   1,735,000 0 0
Ironwood Pharmaceuticals, Inc. Common 46333X108 7,642 768,050 SH   SOLE   768,050 0 0
McKesson Corporation Common 58155Q103 6,511 56,862 SH   SOLE   56,862 0 0
Medivation, Inc. Common 58501N101 10,157 206,439 SH   SOLE   206,439 0 0
MEI Pharma Inc. Common 55279B202 1,061 148,820 SH   SOLE   148,820 0 0
Merck & Co., Inc. Common 58933Y105 13,778 296,620 SH   SOLE   296,620 0 0
Merrimack Pharmaceuticals Inc. Common 590328100 3,618 537,600 SH   SOLE   537,600 0 0
Mylan, Inc. Common 628530107 15,149 488,209 SH   SOLE   488,209 0 0
Neurocrine Biosciences, Inc. Common 64125C109 9,473 707,990 SH   SOLE   707,990 0 0
OncoGenex Pharmaceuticals, Inc. Common 68230A106 1,108 113,100 SH   SOLE   113,100 0 0
Onyx Pharmaceuticals, Inc. Common 683399109 22,040 253,856 SH   SOLE   253,856 0 0
Perrigo Company Common 714290103 24,515 202,607 SH   SOLE   202,607 0 0
Puma Biotechnology, Inc. Common 74587V107 31,583 711,800 SH   SOLE   711,800 0 0
Questcor Pharmaceuticals, Inc. Common 74835Y101 7,907 173,928 SH   SOLE   173,928 0 0
Regeneron Pharmaceuticals, Inc. Common 75886F107 62,912 279,759 SH   SOLE   279,759 0 0
Rigel Pharmaceuticals, Inc. Common 766559603 2,763 827,100 SH   SOLE   827,100 0 0
Sagent Pharmaceuticals, Inc. Common 786692103 5,665 270,031 SH   SOLE   270,031 0 0
Sanofi Right 12/31/2020 80105N113 200 103,665 SH   SOLE   103,665 0 0
Shire plc Sponsored ADR 82481R106 14,661 154,153 SH   SOLE   154,153 0 0
Supernus Pharmaceuticals Inc. Common 868459108 905 140,800 SH   SOLE   140,800 0 0
Synta Pharmaceuticals Corporation Common 87162T206 1,880 376,750 SH   SOLE   376,750 0 0
Teva Pharmaceutical Industries Ltd. ADR 881624209 12,210 311,476 SH   SOLE   311,476 0 0
UnitedHealth Group, Inc. Common 91324P102 5,398 82,436 SH   SOLE   82,436 0 0
Verastem, Inc. Common 92337C104 12,283 884,920 SH   SOLE   884,920 0 0
Vertex Pharmaceuticals, Inc. Common 92532F100 36,274 454,164 SH   SOLE   454,164 0 0
Warner Chilcott plc Shares A G94368100 15,562 782,797 SH   SOLE   782,797 0 0