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
AERIE PHARMACEUTICALS INC COM 00771V108 3,693 68,068 SH   SOLE 68,068 0 0
AERIE PHARMACEUTICALS INC COM 00771V108 141 2,600 SH   DFND 1 0 2,600 0
AETNA INC NEW COM 00817Y108 270 1,600 SH   DFND 1 0 1,600 0
AETNA INC NEW COM 00817Y108 7,149 42,300 SH   SOLE 42,300 0 0
ALDER BIOPHARMACEUTICALS INC COM 014339105 386 30,360 SH   DFND 1 0 30,360 0
ALDER BIOPHARMACEUTICALS INC COM 014339105 10,065 792,530 SH   SOLE 792,530 0 0
ALLERGAN PLC SHS G0177J108 14,977 88,993 SH   SOLE 88,993 0 0
ALLERGAN PLC SHS G0177J108 569 3,379 SH   DFND 1 0 3,379 0
AMERISOURCEBERGEN CORP COM 03073E105 4,785 55,500 SH   SOLE 55,500 0 0
AMERISOURCEBERGEN CORP COM 03073E105 181 2,100 SH   DFND 1 0 2,100 0
AMGEN INC COM 031162100 9,734 57,100 SH   SOLE 57,100 0 0
AMGEN INC COM 031162100 375 2,200 SH   DFND 1 0 2,200 0
ANAPTYSBIO INC COM 032724106 2,529 24,300 SH   SOLE 24,300 0 0
ANAPTYSBIO INC COM 032724106 94 900 SH   DFND 1 0 900 0
ARENA PHARMACEUTICALS INC COM NEW 040047607 4,853 122,864 SH   SOLE 122,864 0 0
ARENA PHARMACEUTICALS INC COM NEW 040047607 186 4,700 SH   DFND 1 0 4,700 0
ASTRAZENECA PLC SPONSORED ADR 046353108 25,518 729,710 SH   SOLE 729,710 0 0
ASTRAZENECA PLC SPONSORED ADR 046353108 979 28,000 SH   DFND 1 0 28,000 0
BRISTOL MYERS SQUIBB CO COM 110122108 4,971 78,600 SH   SOLE 78,600 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 190 3,000 SH   DFND 1 0 3,000 0
CIGNA CORPORATION COM 125509109 14,828 88,400 SH   SOLE 88,400 0 0
CIGNA CORPORATION COM 125509109 570 3,400 SH   DFND 1 0 3,400 0
CONCERT PHARMACEUTICALS INC COM 206022105 168 7,323 SH   DFND 1 0 7,323 0
CONCERT PHARMACEUTICALS INC COM 206022105 4,393 191,816 SH   SOLE 191,816 0 0
CVS HEALTH CORP COM 126650100 7,237 116,330 SH   SOLE 116,330 0 0
CVS HEALTH CORP COM 126650100 280 4,500 SH   DFND 1 0 4,500 0
DR REDDYS LABS LTD ADR 256135203 356 10,900 SH   DFND 1 0 10,900 0
DR REDDYS LABS LTD ADR 256135203 9,292 284,232 SH   SOLE 284,232 0 0
ENDOLOGIX INC COM 29266S106 205 48,500 SH   DFND 1 0 48,500 0
ENDOLOGIX INC COM 29266S106 5,365 1,268,412 SH   SOLE 1,268,412 0 0
EXACT SCIENCES CORP COM 30063P105 807 20,000 SH Put DFND 1 0 20,000 0
EXACT SCIENCES CORP COM 30063P105 21,048 521,900 SH Put SOLE 521,900 0 0
IRONWOOD PHARMACEUTICALS INC COM CL A 46333X108 370 24,000 SH   DFND 1 0 24,000 0
IRONWOOD PHARMACEUTICALS INC COM CL A 46333X108 9,656 625,824 SH   SOLE 625,824 0 0
MEDTRONIC PLC SHS G5960L103 12,350 153,950 SH   SOLE 153,950 0 0
MEDTRONIC PLC SHS G5960L103 473 5,900 SH   DFND 1 0 5,900 0
MERCK & CO INC COM 58933Y105 14,817 272,020 SH   SOLE 272,020 0 0
MERCK & CO INC COM 58933Y105 566 10,400 SH   DFND 1 0 10,400 0
MIMEDX GROUP INC COM 602496101 232 33,300 SH   DFND 1 0 33,300 0
MIMEDX GROUP INC COM 602496101 6,056 868,800 SH   SOLE 868,800 0 0
MYLAN N V SHS EURO N59465109 749 18,200 SH   DFND 1 0 18,200 0
MYLAN N V SHS EURO N59465109 19,581 475,620 SH   SOLE 475,620 0 0
NOVARTIS A G SPONSORED ADR 66987V109 9,912 122,600 SH   SOLE 122,600 0 0
NOVARTIS A G SPONSORED ADR 66987V109 380 4,700 SH   DFND 1 0 4,700 0
NXSTAGE MEDICAL INC COM 67072V103 191 7,700 SH   DFND 1 0 7,700 0
NXSTAGE MEDICAL INC COM 67072V103 4,991 200,780 SH   SOLE 200,780 0 0
PFIZER INC COM 717081103 14,883 419,360 SH   SOLE 419,360 0 0
PFIZER INC COM 717081103 568 16,000 SH   DFND 1 0 16,000 0
PROTAGONIST THERAPEUTICS INC COM 74366E102 1,456 169,490 SH   SOLE 169,490 0 0
PROTAGONIST THERAPEUTICS INC COM 74366E102 56 6,500 SH   DFND 1 0 6,500 0
REGENERON PHARMACEUTICALS COM 75886F107 20,496 59,520 SH   SOLE 59,520 0 0
REGENERON PHARMACEUTICALS COM 75886F107 758 2,200 SH   DFND 1 0 2,200 0
SANOFI SPONSORED ADR 80105N105 19,741 492,546 SH   SOLE 492,546 0 0
SANOFI SPONSORED ADR 80105N105 758 18,900 SH   DFND 1 0 18,900 0
SIENTRA INC COM 82621J105 4,924 509,710 SH   SOLE 509,710 0 0
SIENTRA INC COM 82621J105 188 19,500 SH   DFND 1 0 19,500 0
TG THERAPEUTICS INC COM 88322Q108 250 17,600 SH   DFND 1 0 17,600 0
TG THERAPEUTICS INC COM 88322Q108 6,508 458,318 SH   SOLE 458,318 0 0
THERAVANCE BIOPHARMA INC COM G8807B106 4,388 180,956 SH   SOLE 180,956 0 0
THERAVANCE BIOPHARMA INC COM G8807B106 167 6,900 SH   DFND 1 0 6,900 0
UNITED THERAPEUTICS CORP DEL COM 91307C102 202 1,800 SH   DFND 1 0 1,800 0
UNITED THERAPEUTICS CORP DEL COM 91307C102 5,079 45,200 SH   SOLE 45,200 0 0