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 419 7,419 SH   OTR 1 7,419 0 0
ABBVIE INC COM 00287Y109 17,055 302,176 SH   SOLE 0 302,176 0 0
ACELRX PHARMACEUTICALS INC COM 00444T100 1,957 190,900 SH   SOLE 0 190,900 0 0
ACELRX PHARMACEUTICALS INC COM 00444T100 48 4,700 SH   OTR 1 4,700 0 0
ALLERGAN INC COM 018490102 203 1,200 SH   OTR 1 1,200 0 0
ALLERGAN INC COM 018490102 8,579 50,700 SH   SOLE 0 50,700 0 0
AMGEN INC COM 031162100 331 2,800 SH   OTR 1 2,800 0 0
AMGEN INC COM 031162100 13,790 116,498 SH   SOLE 0 116,498 0 0
CARDINAL HEALTH INC COM 14149Y108 6,404 93,400 SH   SOLE 0 93,400 0 0
CARDINAL HEALTH INC COM 14149Y108 158 2,300 SH   OTR 1 2,300 0 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 458 10,100 SH   OTR 1 10,100 0 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 18,661 411,300 SH   SOLE 0 411,300 0 0
CORIUM INTL INC COM 21887L107 3,879 499,200 SH   SOLE 0 499,200 0 0
CORIUM INTL INC COM 21887L107 96 12,300 SH   OTR 1 12,300 0 0
ENANTA PHARMACEUTICALS INC COM 29251M106 267 6,200 SH   OTR 1 6,200 0 0
ENANTA PHARMACEUTICALS INC COM 29251M106 10,721 248,928 SH   SOLE 0 248,928 0 0
FIVE PRIME THERAPEUTICS INC COM 33830X104 98 6,300 SH   OTR 1 6,300 0 0
FIVE PRIME THERAPEUTICS INC COM 33830X104 3,976 255,700 SH   SOLE 0 255,700 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 8,412 157,300 SH   SOLE 0 157,300 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 203 3,800 SH   OTR 1 3,800 0 0
INSMED INC COM PAR $.01 457669307 15,964 799,000 SH   SOLE 0 799,000 0 0
INSMED INC COM PAR $.01 457669307 394 19,700 SH   OTR 1 19,700 0 0
KYTHERA BIOPHARMACEUTICALS I COM 501570105 4,677 121,900 SH   SOLE 0 121,900 0 0
KYTHERA BIOPHARMACEUTICALS I COM 501570105 115 3,000 SH   OTR 1 3,000 0 0
MAGELLAN HEALTH INC COM NEW 559079207 6,573 105,600 SH   SOLE 0 105,600 0 0
MAGELLAN HEALTH INC COM NEW 559079207 162 2,600 SH   OTR 1 2,600 0 0
MEDIVATION INC COM 58501N101 309 4,014 SH   OTR 1 4,014 0 0
MEDIVATION INC COM 58501N101 12,550 162,820 SH   SOLE 0 162,820 0 0
MEDTRONIC INC COM 585055106 9,156 143,600 SH   SOLE 0 143,600 0 0
MEDTRONIC INC COM 585055106 223 3,500 SH   OTR 1 3,500 0 0
MOMENTA PHARMACEUTICALS INC COM 60877T100 4,537 375,600 SH   SOLE 0 375,600 0 0
MOMENTA PHARMACEUTICALS INC COM 60877T100 112 9,300 SH   OTR 1 9,300 0 0
MYLAN INC COM 628530107 9,595 186,100 SH   SOLE 0 186,100 0 0
MYLAN INC COM 628530107 237 4,600 SH   OTR 1 4,600 0 0
ORTHOFIX INTL N V COM N6748L102 13,829 381,498 SH   SOLE 0 381,498 0 0
ORTHOFIX INTL N V COM N6748L102 341 9,400 SH   OTR 1 9,400 0 0
QUESTCOR PHARMACEUTICALS INC COM 74835Y101 14,271 154,300 SH   SOLE 0 154,300 0 0
QUESTCOR PHARMACEUTICALS INC COM 74835Y101 351 3,800 SH   OTR 1 3,800 0 0
RETROPHIN INC COM 761299106 45 3,800 SH   OTR 1 3,800 0 0
RETROPHIN INC COM 761299106 1,811 154,300 SH   SOLE 0 154,300 0 0
RIGEL PHARMACEUTICALS INC COM NEW 766559603 81 22,200 SH   OTR 1 22,200 0 0
RIGEL PHARMACEUTICALS INC COM NEW 766559603 3,271 901,000 SH   SOLE 0 901,000 0 0
SAGENT PHARMACEUTICALS INC COM 786692103 4,621 178,700 SH   SOLE 0 178,700 0 0
SAGENT PHARMACEUTICALS INC COM 786692103 114 4,400 SH   OTR 1 4,400 0 0
SANOFI SPONSORED ADR 80105N105 611 11,500 SH   OTR 1 11,500 0 0
SANOFI SPONSORED ADR 80105N105 24,836 467,100 SH   SOLE 0 467,100 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 25,120 479,197 SH   SOLE 0 479,197 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 619 11,799 SH   OTR 1 11,799 0 0
WELLCARE HEALTH PLANS INC COM 94946T106 5,764 77,200 SH   SOLE 0 77,200 0 0
WELLCARE HEALTH PLANS INC COM 94946T106 142 1,900 SH   OTR 1 1,900 0 0
XENOPORT INC COM 98411C100 136 28,200 SH   OTR 1 28,200 0 0
XENOPORT INC COM 98411C100 5,528 1,144,500 SH   SOLE 0 1,144,500 0 0