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
ABBOTT LABS COM 002824100 21,384 439,900 SH   SOLE 439,900 0 0
ABBOTT LABS COM 002824100 525 10,800 SH   DFND 1 0 10,800 0
ACHILLION PHARMACEUTICALS IN COM 00448Q201 119 26,000 SH   DFND 1 0 26,000 0
ACHILLION PHARMACEUTICALS IN COM 00448Q201 4,847 1,056,100 SH   SOLE 1,056,100 0 0
AERIE PHARMACEUTICALS INC COM 00771V108 494 9,400 SH   DFND 1 0 9,400 0
AERIE PHARMACEUTICALS INC COM 00771V108 20,074 382,000 SH   SOLE 382,000 0 0
ALDER BIOPHARMACEUTICALS INC COM 014339105 152 13,300 SH   DFND 1 0 13,300 0
ALDER BIOPHARMACEUTICALS INC COM 014339105 6,234 544,470 SH   SOLE 544,470 0 0
ANTHEM INC COM 036752103 658 3,500 SH   DFND 1 0 3,500 0
ANTHEM INC COM 036752103 26,498 140,850 SH   SOLE 140,850 0 0
CONCERT PHARMACEUTICALS INC COM 206022105 138 9,868 SH   DFND 1 0 9,868 0
CONCERT PHARMACEUTICALS INC COM 206022105 5,612 402,277 SH   SOLE 402,277 0 0
CORIUM INTL INC COM 21887L107 5,852 784,508 SH   SOLE 784,508 0 0
CORIUM INTL INC COM 21887L107 144 19,258 SH   DFND 1 0 19,258 0
CVS HEALTH CORP COM 126650100 443 5,500 SH   DFND 1 0 5,500 0
CVS HEALTH CORP COM 126650100 17,790 221,100 SH   SOLE 221,100 0 0
DAVITA INC COM 23918K108 402 6,200 SH   DFND 1 0 6,200 0
DAVITA INC COM 23918K108 16,358 252,600 SH   SOLE 252,600 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 977 15,300 SH   DFND 1 0 15,300 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 39,964 626,001 SH   SOLE 626,001 0 0
FOAMIX PHARMACEUTICALS LTD SHS M46135105 63 13,627 SH   DFND 1 0 13,627 0
FOAMIX PHARMACEUTICALS LTD SHS M46135105 2,578 555,570 SH   SOLE 555,570 0 0
FORWARD PHARMA A/S SPONSORED ADR 34986J105 12,948 636,900 SH   SOLE 636,900 0 0
FORWARD PHARMA A/S SPONSORED ADR 34986J105 317 15,600 SH   DFND 1 0 15,600 0
GILEAD SCIENCES INC COM 375558103 630 8,900 SH   DFND 1 0 8,900 0
GILEAD SCIENCES INC COM 375558103 25,828 364,900 SH   SOLE 364,900 0 0
HALOZYME THERAPEUTICS INC COM 40637H109 1,253 97,750 SH   DFND 1 0 97,750 0
HALOZYME THERAPEUTICS INC COM 40637H109 51,146 3,989,514 SH   SOLE 3,989,514 0 0
INOTEK PHARMACEUTICALS CORP COM 45780V102 38 20,200 SH   DFND 1 0 20,200 0
INOTEK PHARMACEUTICALS CORP COM 45780V102 1,565 823,522 SH   SOLE 823,522 0 0
LIFEPOINT HEALTH INC COM 53219L109 215 3,200 SH   DFND 1 0 3,200 0
LIFEPOINT HEALTH INC COM 53219L109 8,763 130,500 SH   SOLE 130,500 0 0
LILLY ELI & CO COM 532457108 33,356 405,300 SH   SOLE 405,300 0 0
LILLY ELI & CO COM 532457108 815 9,900 SH   DFND 1 0 9,900 0
MYLAN N V SHS EURO N59465109 839 21,600 SH   DFND 1 0 21,600 0
MYLAN N V SHS EURO N59465109 34,375 885,500 SH   SOLE 885,500 0 0
NEUROCRINE BIOSCIENCES INC COM 64125C109 828 18,000 SH   DFND 1 0 18,000 0
NEUROCRINE BIOSCIENCES INC COM 64125C109 33,635 731,200 SH   SOLE 731,200 0 0
NEURODERM LTD ORD SHS M74231107 257 8,600 SH   DFND 1 0 8,600 0
NEURODERM LTD ORD SHS M74231107 10,429 348,800 SH   SOLE 348,800 0 0
PROTAGONIST THERAPEUTICS INC COM 74366E102 74 6,500 SH   DFND 1 0 6,500 0
PROTAGONIST THERAPEUTICS INC COM 74366E102 3,020 267,000 SH   SOLE 267,000 0 0
RETROPHIN INC COM 761299106 114 5,900 SH   DFND 1 0 5,900 0
RETROPHIN INC COM 761299106 4,661 240,389 SH   SOLE 240,389 0 0
TG THERAPEUTICS INC COM 88322Q108 9,509 946,200 SH   SOLE 946,200 0 0
TG THERAPEUTICS INC COM 88322Q108 232 23,100 SH   DFND 1 0 23,100 0