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
3M CO COM 88579Y101 21,314 111,400 SH   DFND 1 111,400 0 0
ABEONA Therapeutics COM 00289Y107 150 30,000 SH   DFND 1 30,000 0 0
ACADIA PHARMACEUTICALS INC COM 004225108 2,063 60,000 SH   DFND 1 60,000 0 0
ACORDA THERAPEUTICS INC COM 00484M106 210 10,000 SH   DFND 1 10,000 0 0
ALDEYRA THERAPEUTICS INC COM 01438T106 188 37,662 SH   DFND 1 37,662 0 0
ALLERGAN PLC SPONSORED ADR G0177J108 17,059 71,400 SH   DFND 1 71,400 0 0
ALPHABET INC CL C 38259P706 3,235 3,900 SH   DFND 1 0 0 3,900
AMAG PHARMACEUTICALS INC COM 00163U106 902 40,000 SH   DFND 1 40,000 0 0
AMERICAN EXPRESS CO COM 025816109 1,392 17,600 SH   DFND 1 17,600 0 0
AMGEN INC COM 031162100 6,809 41,500 SH   DFND 1 41,500 0 0
Anheuser-Busch InBev SPONSORED ADR 03524A108 1,109 10,100 SH   DFND 1 10,100 0 0
ANI PHARMACEUTICALS INC COM 00182C103 248 5,000 SH   DFND 1 5,000 0 0
AURINIA PHARMACEUTICALS INC COM 05156V102 440 60,000 SH   DFND 1 60,000 0 0
BECTON DICKINSON & CO COM 075887109 4,182 22,800 SH   DFND 1 22,800 0 0
BERKSHIRE HATHAWAY INC CL A 084670108 174,645 699 SH   DFND 1 699 0 0
BIODELIVERY SCIENCES INTERNATIONAL INC COM 09060J106 503 264,610 SH   DFND 1 264,610 0 0
BIOGEN INC COM 09062X103 6,015 22,000 SH   DFND 1 22,000 0 0
BIOTIME INC COM 09066L105 122 35,274 SH   DFND 1 35,274 0 0
BIOVERATIV INC COM 09075E100 599 11,000 SH   DFND 1 11,000 0 0
BOEING CO COM 097023105 13,424 75,900 SH   DFND 1 75,900 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108 3,736 68,700 SH   DFND 1 68,700 0 0
CELGENE CORP COM 151020104 7,142 57,400 SH   DFND 1 57,400 0 0
CELLDEX THERAPEUTICS INC COM 15117B103 181 50,000 SH   DFND 1 50,000 0 0
CHICAGO BRIDGE & IRON CO N V N Y REGISTRY SH 167250109 6,827 222,000 SH   DFND 1 222,000 0 0
CISCO SYSTEMS INC COM 17275R102 7,946 235,100 SH   DFND 1 235,100 0 0
COCA COLA CO COM 191216100 1,952 46,000 SH   DFND 1 46,000 0 0
CONCERT PHARMACEUTICALS INC COM 206022105 200 11,743 SH   DFND 1 11,743 0 0
DANAHER CORP COM 235851102 17,996 210,400 SH   DFND 1 210,400 0 0
DAVITA HEALTHCARE PARTNERS INC COM 23918K108 19,637 288,900 SH   DFND 1 288,900 0 0
DBV TECHNOLOGIES SA SPONSORED ADR 23306J101 1,026 29,119 SH   DFND 1 29,119 0 0
DIAMOND OFFSHORE DRILLING INC COM 25271C102 1,836 109,900 SH   DFND 1 109,900 0 0
DYNAVAX TECHNOLOGIES CORPORATION COM 268158201 298 50,000 SH   DFND 1 50,000 0 0
EIGER BIOPHARMACEUTICALS INC COM 28249U105 118 10,320 SH   DFND 1 10,320 0 0
EXXON MOBIL CORPORATION COM 30231G102 6,683 81,493 SH   DFND 1 81,493 0 0
FORTIVE CORP COM 34959J108 6,335 105,200 SH   DFND 1 105,200 0 0
GILEAD SCIENCES INC COM 375558103 3,511 51,700 SH   DFND 1 51,700 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 83,134 477,400 SH   DFND 1 477,400 0 0
INTUITIVE SURGICAL INC COM 46120E602 5,955 7,770 SH   DFND 1 7,770 0 0
JOHNSON & JOHNSON COM 478160104 21,410 171,900 SH   DFND 1 171,900 0 0
KRAFT HEINZ COMPANY COM 500754106 1,754 19,320 SH   DFND 1 19,320 0 0
LIGAND PHARMACEUTICALS INC COM 53220K504 1,058 10,000 SH   DFND 1 10,000 0 0
MASTERCARD INC CL A 57636Q104 1,125 10,000 SH   DFND 1 10,000 0 0
MCDONALDS CORP COM 580135101 1,304 10,060 SH   DFND 1 10,060 0 0
MEDTRONIC INC COM 585055106 4,084 50,700 SH   DFND 1 50,700 0 0
NATIONAL OILWELL VARCO INC COM 637071101 10,636 265,300 SH   DFND 1 265,300 0 0
NESTLE SPONSORED ADR 641069406 3,184 41,400 SH   DFND 1 41,400 0 0
NOVO-NORDISK A S SPONSORED ADR 670100205 14,528 423,800 SH   DFND 1 423,800 0 0
NOW INC COM 67011P100 944 55,675 SH   DFND 1 55,675 0 0
OCERA THERAPEUTICS INC COM 67552A108 328 250,000 SH   DFND 1 250,000 0 0
OPKO HEALTH INC COM 68375N103 715 89,405 SH   DFND 1 89,405 0 0
PHILLIPS 66 COM 718546104 16,185 204,300 SH   DFND 1 204,300 0 0
POTASH CORP SASK INC COM 73755L107 12,443 728,500 SH   DFND 1 728,500 0 0
PRAXAIR INC COM 74005P104 17,911 151,020 SH   DFND 1 151,020 0 0
PROQR THERAPEUTICS NV COM N71542109 121 24,144 SH   DFND 1 24,144 0 0
ROCHE HOLDING A G SPONSORED ADR 771195104 5,477 171,000 SH   DFND 1 171,000 0 0
ROPER TECHNOGIES INC COM 776696106 14,578 70,600 SH   DFND 1 70,600 0 0
SANOFI SPONSORED ADR 80105N105 7,751 171,300 SH   DFND 1 171,300 0 0
SELECTA BIOSCIENCES INC COM 816212104 349 24,369 SH   DFND 1 24,369 0 0
STERICYCLE INC COM 858912108 10,776 130,000 SH   DFND 1 130,000 0 0
SYNERGY PHARMACEUTICALS INC COM 871639308 699 150,000 SH   DFND 1 150,000 0 0
SYNTEL INC COM 87162H103 332 19,700 SH   DFND 1 19,700 0 0
TG THERAPEUTICS INC COM 88322Q108 699 60,000 SH   DFND 1 60,000 0 0
TWENTY-FIRST CENTURY FOX INC COM 90130A200 925 29,100 SH   DFND 1 29,100 0 0
UNITED TECHNOLOGIES CORP COM 913017109 12,702 113,200 SH   DFND 1 113,200 0 0
UNITED THERAPEUTICS CORP COM 91307C102 2,694 19,900 SH   DFND 1 19,900 0 0
US BANCORP COM 902973304 5,814 112,900 SH   DFND 1 111,290 0 0
VISA INC CL A 92826C839 15,277 171,900 SH   DFND 1 171,900 0 0
WABTEC CORPORATION COM 929740108 1,849 23,700 SH   DFND 1 23,700 0 0
WELLS FARGO & CO COM 949746101 85,962 1,544,420 SH   DFND 1 1,544,420 0 0