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 COM 00287Y109 21,445 362,000 SH   DFND 1,2 362,000 0 0
ABEONA THERAPEUTICS INC COM 00289Y107 2,016 600,000 SH   DFND 1,2 600,000 0 0
ACADIA PHARMACEUTICALS INC COM 004225108 3,565 100,000 SH   DFND 1,2 100,000 0 0
ACCELERON PHARMA INC COM 00434H108 2,926 60,000 SH   DFND 1,2 60,000 0 0
ACORDA THERAPEUTICS INC COM 00484M106 6,118 143,000 SH   DFND 1,2 143,000 0 0
ADAMAS PHARMACEUTICALS INC COM 00548A106 4,248 150,000 SH   DFND 1,2 150,000 0 0
ADURO BIOTECH INC COM 00739L101 3,377 120,000 SH   DFND 1,2 120,000 0 0
ADVANCE AUTO PARTS INC COM 00751Y106 2,341 15,555 SH   DFND   15,555 0 0
AGIOS PHARMACEUTICALS INC COM 00847X104 3,246 50,000 SH   DFND 1,2 50,000 0 0
ALDER BIOPHARMACEUTICALS INC COM 014339105 3,716 112,500 SH   DFND 1,2 112,500 0 0
ALDEYRA THERAPEUTICS INC COM 01438T106 1,617 238,500 SH   DFND 1,2 238,500 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 11,286 59,164 SH   DFND 1,2 59,164 0 0
ALLERGAN PLC SHS G0177J108 31,250 100,000 SH   DFND 1,2 100,000 0 0
ALNYLAM PHARMACEUTICALS INC COM 02043Q107 3,766 40,000 SH   DFND 1,2 40,000 0 0
ANACOR PHARMACEUTICALS INC COM 032420101 3,389 30,000 SH   DFND 1,2 30,000 0 0
ARBUTUS BIOPHARMA CORP COM 03879J100 2,023 454,500 SH   DFND 1,2 454,500 0 0
ARRAY BIOPHARMA INC COM 04269X105 907 215,000 SH   DFND 1,2 215,000 0 0
ARROWHEAD RESH CORP COM NEW 042797209 2,989 486,000 SH   DFND 1,2 486,000 0 0
ATYR PHARMA INC COM 002120103 358 36,450 SH   DFND 1,2 36,450 0 0
AXALTA COATING SYS LTD COM G0750C108 1,497 56,173 SH   DFND   56,173 0 0
AXSOME THERAPEUTICS INC COM 05464T104 2,009 220,000 SH   DFND 1,2 220,000 0 0
BELLICUM PHARMACEUTICALS INC COM 079481107 4,693 231,515 SH   DFND 1,2 231,515 0 0
BIOGEN INC COM 09062X103 37,941 123,850 SH   DFND 1,2 123,850 0 0
BIOMARIN PHARMACEUTICAL INC COM 09061G101 388 3,700 SH   DFND 1,2 3,700 0 0
BIOTIE THERAPIES OYJ SPONSORED ADR 09074D103 2,740 193,646 SH   DFND 1,2 193,646 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 8,358 121,500 SH   DFND 1,2 121,500 0 0
CARA THERAPEUTICS INC COM 140755109 3,335 197,820 SH   DFND 1,2 197,820 0 0
CARBYLAN THERAPEUTICS INC COM 141384107 1,303 360,000 SH   DFND 1,2 360,000 0 0
CATABASIS PHARMACEUTICALS IN COM 14875P107 640 80,742 SH   DFND 1,2 80,742 0 0
CATALYST PHARMACEUTICALS INC COM 14888U101 3,565 1,455,000 SH   DFND 1,2 1,455,000 0 0
CELGENE CORP COM 151020104 17,629 147,200 SH   DFND 1,2 147,200 0 0
CELLCOM ISRAEL LTD SHS M2196U109 5,144 212,300 SH   DFND   212,300 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 737 4,026 SH   DFND   4,026 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 4,546 55,857 SH   DFND   55,857 0 0
CLOVIS ONCOLOGY INC COM 189464100 3,308 94,500 SH   DFND 1,2 94,500 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 2,197 36,600 SH   DFND   36,600 0 0
COLUCID PHARMACEUTICALS INC COM 19716T101 2,390 285,525 SH   DFND 1,2 285,525 0 0
CONCERT PHARMACEUTICALS INC COM 206022105 3,415 180,000 SH   DFND 1,2 180,000 0 0
CYNAPSUS THERAPEUTICS INC COM PAR NO PAR 23257Y859 2,070 134,037 SH   DFND 1,2 134,037 0 0
DELPHI AUTOMOTIVE PLC SHS G27823106 863 10,065 SH   DFND   10,065 0 0
DIMENSION THERAPEUTICS INC COM 25433V105 2,256 200,000 SH   DFND 1,2 200,000 0 0
DYNAVAX TECHNOLOGIES CORP COM NEW 268158201 2,174 90,000 SH   DFND 1,2 90,000 0 0
EDGE THERAPEUTICS INC COM 279870109 1,938 155,000 SH   DFND 1,2 155,000 0 0
EGALET CORP COM 28226B104 3,223 292,500 SH   DFND 1,2 292,500 0 0
ELLOMAY CAPITAL LIMITED SHS M39927120 824 95,653 SH   DFND   95,653 0 0
EXELIXIS INC COM 30161Q104 2,538 450,000 SH   DFND 1,2 450,000 0 0
EZCHIP SEMICONDUCTOR LIMITED ORD M4146Y108 505 20,447 SH   DFND   20,447 0 0
FIVE PRIME THERAPEUTICS INC COM 33830X104 6,018 145,000 SH   DFND 1,2 145,000 0 0
FOAMIX PHARMACEUTICALS LTD SHS M46135105 2,774 342,000 SH   DFND 1,2 342,000 0 0
FORWARD PHARMA A/S SPONSORED ADR 34986J105 2,309 121,500 SH   DFND 1,2 121,500 0 0
GENOCEA BIOSCIENCES INC COM 372427104 2,848 540,490 SH   DFND 1,2 540,490 0 0
GENVEC INC COM NEW 37246C307 343 186,500 SH   DFND 1,2 186,500 0 0
GILEAD SCIENCES INC COM 375558103 14,440 142,700 SH   DFND 1,2 142,700 0 0
GOOGLE INC CALL 38259P908 3,579 4,600 SH Call DFND   0 0 0
GOOGLE INC CL A 38259P508 5,764 7,409 SH   DFND   7,409 0 0
GW PHARMACEUTICALS PLC CALL 36197T903 3,472 50,000 SH Call DFND 1,2 0 0 0
GW PHARMACEUTICALS PLC ADS 36197T103 1,652 23,790 SH   DFND 1,2 23,790 0 0
HALOZYME THERAPEUTICS INC COM 40637H109 2,340 135,000 SH   DFND 1,2 135,000 0 0
HERON THERAPEUTICS INC COM 427746102 3,605 135,000 SH   DFND 1,2 135,000 0 0
HONEYWELL INTL INC COM 438516106 2,651 25,595 SH   DFND   25,595 0 0
IMMUNE DESIGN CORP COM 45252L103 3,072 153,000 SH   DFND 1,2 153,000 0 0
INCYTE CORP COM 45337C102 5,598 51,621 SH   DFND 1,2 51,621 0 0
INOTEK PHARMACEUTICALS CORP COM 45780V102 4,079 360,000 SH   DFND 1,2 360,000 0 0
INTRA CELLULAR THERAPIES INC COM 46116X101 2,603 48,400 SH   DFND 1,2 48,400 0 0
IONIS PHARMACEUTICALS INC COM 462222100 5,029 81,200 SH   DFND 1,2 81,200 0 0
ISRAEL CHEMICALS LTD SHS M5920A109 280 69,083 SH   DFND   69,083 0 0
KEMPHARM INC COM 488445107 3,653 183,954 SH   DFND 1,2 183,954 0 0
KITE PHARMA INC COM 49803L109 3,081 50,000 SH   DFND 1,2 50,000 0 0
LOXO ONCOLOGY INC COM 548862101 1,280 45,000 SH   DFND 1,2 45,000 0 0
MACROGENICS INC COM 556099109 4,738 153,000 SH   DFND 1,2 153,000 0 0
MANNKIND CORP CALL 56400P901 1,102 760,000 SH Call DFND   0 0 0
MARINUS PHARMACEUTICALS INC COM 56854Q101 4,362 570,908 SH   DFND 1,2 570,908 0 0
MASTERCARD INC CL A 57636Q104 2,980 30,605 SH   DFND   30,605 0 0
MEDICINES CO COM 584688105 2,240 60,000 SH   DFND 1,2 60,000 0 0
MONDELEZ INTL INC CL A 609207105 3,077 68,625 SH   DFND   68,625 0 0
MYLAN N V CALL N59465909 16,221 300,000 SH Call DFND 1,2 0 0 0
NABRIVA THERAPEUTICS AG SPONSORED ADR 62957M104 1,504 157,500 SH   DFND 1,2 157,500 0 0
NIVALIS THERAPEUTICS INC COM 65481J109 1,792 231,548 SH   DFND 1,2 231,548 0 0
NOVARTIS A G SPONSORED ADR 66987V109 1,549 18,000 SH   DFND 1,2 18,000 0 0
NOVAVAX INC COM 670002104 3,356 400,000 SH   DFND 1,2 400,000 0 0
NXP SEMICONDUCTORS N V COM N6596X109 1,426 16,920 SH   DFND   16,920 0 0
OCERA THERAPEUTICS INC COM 67552A108 1,716 550,000 SH   DFND 1,2 550,000 0 0
OPKO HEALTH INC COM 68375N103 5,025 500,000 SH   DFND 1,2 500,000 0 0
ORBOTECH LTD ORD M75253100 3,709 167,619 SH   DFND   167,619 0 0
ORMAT TECHNOLOGIES INC COM 686688102 38,744 272,462 SH   DFND   272,462 0 0
PALATIN TECHNOLOGIES INC COM PAR $ .01 696077403 2,080 3,132,926 SH   DFND 1,2 3,132,926 0 0
PARTNER COMMUNICATIONS CO LT ADR 70211M109 2,700 617,951 SH   DFND   617,951 0 0
PFIZER INC COM 717081103 37,981 1,176,612 SH   DFND 1,2 1,176,612 0 0
PIERIS PHARMACEUTICALS INC COM 720795103 1,855 810,000 SH   DFND 1,2 810,000 0 0
PORTOLA PHARMACEUTICALS INC COM 737010108 4,399 85,500 SH   DFND 1,2 85,500 0 0
PROQR THRAPEUTICS N V SHS EURO N71542109 1,302 150,000 SH   DFND 1,2 150,000 0 0
PTC THERAPEUTICS INC COM 69366J200 2,139 66,020 SH   DFND 1,2 66,020 0 0
RADIUS HEALTH INC COM NEW 750469207 4,308 70,000 SH   DFND 1,2 70,000 0 0
RAPTOR PHARMACEUTICAL CORP COM 75382F106 3,562 685,000 SH   DFND 1,2 685,000 0 0
RETROPHIN INC COM 761299106 2,604 135,000 SH   DFND 1,2 135,000 0 0
SAGE THERAPEUTICS INC COM 78667J108 5,422 93,000 SH   DFND 1,2 93,000 0 0
SCYNEXIS INC COM 811292101 1,892 304,600 SH   DFND 1,2 304,600 0 0
SEATTLE GENETICS INC COM 812578102 3,142 70,000 SH   DFND 1,2 70,000 0 0
SHIRE PLC SPONSORED ADR 82481R106 8,200 40,000 SH   DFND 1,2 40,000 0 0
SMITH A O COM 831865209 207 2,700 SH   DFND   2,700 0 0
SPDR S&P 500 ETF TR PUT 78462F953 81,548 400,000 SH Put DFND 1,2 400,000 0 0
SPDR SERIES TRUST PUT 78464A950 23,152 329,800 SH Put DFND 1,2 329,800 0 0
STARBUCKS CORP COM 855244109 2,811 46,828 SH   DFND   46,828 0 0
STRONGBRIDGE BIOPHARMA PLC SHS USD G85347105 1,382 181,818 SH   DFND 1,2 181,818 0 0
SUMMIT THERAPEUTICS PLC SPONS ADS 86627R102 2,321 202,220 SH   DFND 1,2 202,220 0 0
TESARO INC COM 881569107 1,605 30,686 SH   DFND 1,2 30,686 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 7,197 109,650 SH   DFND   109,650 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 44,320 675,200 SH   DFND 1,2 675,200 0 0
TJX COS INC NEW COM 872540109 3,401 47,961 SH   DFND   47,961 0 0
TOBIRA THERAPEUTICS INC COM 88883P101 1,886 187,622 SH   DFND 1,2 187,622 0 0
TRILLIUM THERAPEUTICS INC COM NEW 89620X506 1,668 132,300 SH   DFND 1,2 132,300 0 0
UNIQURE NV SHS N90064101 2,539 153,500 SH   DFND 1,2 153,500 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 3,431 33,750 SH   DFND 1,2 33,750 0 0
VANDA PHARMACEUTICALS INC COM 921659108 4,302 462,051 SH   DFND 1,2 462,051 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 6,090 48,400 SH   DFND 1,2 48,400 0 0
VISA INC COM CL A 92826C839 2,838 36,600 SH   DFND   36,600 0 0
VITAE PHARMACEUTICALS INC COM 92847N103 2,172 120,000 SH   DFND 1,2 120,000 0 0
WABTEC CORP COM 929740108 908 12,761 SH   DFND   12,761 0 0
WIX COM LTD SHS M98068105 807 35,460 SH   DFND   35,460 0 0