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 526 9,100 SH   OTR 1 9,100 0 0
ABBVIE INC COM 00287Y109 24,392 422,300 SH   SOLE 0 422,300 0 0
ACELRX PHARMACEUTICALS INC COM 00444T100 2,977 542,234 SH   SOLE 0 542,234 0 0
ACELRX PHARMACEUTICALS INC COM 00444T100 64 11,658 SH   OTR 1 11,658 0 0
ALLERGAN INC COM 018490102 9,996 56,100 SH   SOLE 0 56,100 0 0
ALLERGAN INC COM 018490102 214 1,200 SH   OTR 1 1,200 0 0
BIOGEN IDEC INC COM 09062X103 198 600 SH   OTR 1 600 0 0
BIOGEN IDEC INC COM 09062X103 8,667 26,200 SH   SOLE 0 26,200 0 0
BIOTA PHARMACEUTIALS INC COM 090694100 239 96,800 SH   SOLE 0 96,800 0 0
BIOTA PHARMACEUTIALS INC COM 090694100 5 2,100 SH   OTR 1 2,100 0 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 16,870 307,900 SH   SOLE 0 307,900 0 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 373 6,800 SH   OTR 1 6,800 0 0
CONCERT PHARMACEUTICALS INC COM 206022105 3,226 255,800 SH   SOLE 0 255,800 0 0
CONCERT PHARMACEUTICALS INC COM 206022105 68 5,400 SH   OTR 1 5,400 0 0
CONMED CORP COM 207410101 203 5,500 SH   OTR 1 5,500 0 0
CONMED CORP COM 207410101 9,391 254,900 SH   SOLE 0 254,900 0 0
CORIUM INTL INC COM 21887L107 3,359 547,017 SH   SOLE 0 547,017 0 0
CORIUM INTL INC COM 21887L107 72 11,803 SH   OTR 1 11,803 0 0
COVIDIEN PLC SHS G2554F113 528 6,100 SH   OTR 1 6,100 0 0
COVIDIEN PLC SHS G2554F113 24,690 285,400 SH   SOLE 0 285,400 0 0
ENANTA PHARMACEUTICALS INC COM 29251M106 474 11,984 SH   OTR 1 11,984 0 0
ENANTA PHARMACEUTICALS INC COM 29251M106 21,958 554,919 SH   SOLE 0 554,919 0 0
FIVE PRIME THERAPEUTICS INC COM 33830X104 3,425 292,000 SH   SOLE 0 292,000 0 0
FIVE PRIME THERAPEUTICS INC COM 33830X104 74 6,300 SH   OTR 1 6,300 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 30,069 654,100 SH   SOLE 0 654,100 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 648 14,100 SH   OTR 1 14,100 0 0
INSMED INC COM PAR $.01 457669307 8,473 649,300 SH   SOLE 0 649,300 0 0
INSMED INC COM PAR $.01 457669307 183 14,000 SH   OTR 1 14,000 0 0
KYTHERA BIOPHARMACEUTICALS I COM 501570105 46 1,400 SH   OTR 1 1,400 0 0
KYTHERA BIOPHARMACEUTICALS I COM 501570105 2,126 64,900 SH   SOLE 0 64,900 0 0
MAGELLAN HEALTH INC COM NEW 559079207 241 4,400 SH   OTR 1 4,400 0 0
MAGELLAN HEALTH INC COM NEW 559079207 11,159 203,900 SH   SOLE 0 203,900 0 0
MEDTRONIC INC COM 585055106 14,447 233,200 SH   SOLE 0 233,200 0 0
MEDTRONIC INC COM 585055106 304 4,900 SH   OTR 1 4,900 0 0
MOMENTA PHARMACEUTICALS INC COM 60877T100 5,046 445,000 SH   SOLE 0 445,000 0 0
MOMENTA PHARMACEUTICALS INC COM 60877T100 109 9,600 SH   OTR 1 9,600 0 0
MYLAN INC COM 628530107 678 14,900 SH   OTR 1 14,900 0 0
MYLAN INC COM 628530107 31,415 690,600 SH   SOLE 0 690,600 0 0
ORTHOFIX INTL N V COM N6748L102 9,139 295,198 SH   SOLE 0 295,198 0 0
ORTHOFIX INTL N V COM N6748L102 198 6,400 SH   OTR 1 6,400 0 0
REPROS THERAPEUTICS INC COM NEW 76028H209 7,304 737,800 SH   SOLE 0 737,800 0 0
REPROS THERAPEUTICS INC COM NEW 76028H209 156 15,800 SH   OTR 1 15,800 0 0
RETROPHIN INC COM 761299106 2,582 286,300 SH   SOLE 0 286,300 0 0
RETROPHIN INC COM 761299106 55 6,100 SH   OTR 1 6,100 0 0
RIGEL PHARMACEUTICALS INC COM NEW 766559603 3,940 2,030,700 SH   SOLE 0 2,030,700 0 0
RIGEL PHARMACEUTICALS INC COM NEW 766559603 85 43,700 SH   OTR 1 43,700 0 0
RITE AID CORP COM 767754104 5,849 1,208,400 SH   SOLE 0 1,208,400 0 0
RITE AID CORP COM 767754104 124 25,600 SH   OTR 1 25,600 0 0
SAGENT PHARMACEUTICALS INC COM 786692103 4,733 152,200 SH   SOLE 0 152,200 0 0
SAGENT PHARMACEUTICALS INC COM 786692103 84 2,700 SH   OTR 1 2,700 0 0
SANOFI SPONSORED ADR 80105N105 581 10,300 SH   OTR 1 10,300 0 0
SANOFI SPONSORED ADR 80105N105 26,962 477,800 SH   SOLE 0 477,800 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 29,906 556,397 SH   SOLE 0 556,397 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 645 11,999 SH   OTR 1 11,999 0 0
WELLCARE HEALTH PLANS INC COM 94946T106 4,471 74,100 SH   SOLE 0 74,100 0 0
WELLCARE HEALTH PLANS INC COM 94946T106 97 1,600 SH   OTR 1 1,600 0 0
XENOPORT INC COM 98411C100 7,032 1,307,100 SH   SOLE 0 1,307,100 0 0
XENOPORT INC COM 98411C100 152 28,200 SH   OTR 1 28,200 0 0