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 23,192 111,400 SH   DFND 1 111,400 0 0
ACADIA PHARMACEUTICALS INC COM 004225108 1,673 60,000 SH   DFND 1 60,000 0 0
ACORDA THERAPEUTICS INC COM 00484M106 703 35,663 SH   DFND 1 35,663 0 0
AIMMUNE THERAPEUTICS INC COM 00900T107 617 30,000 SH   DFND 1 30,000 0 0
AKARI THERAPEUTICS PLC COM 00972G108 277 60,012 SH   DFND 1 60,012 0 0
ALDEYRA THERAPEUTICS INC COM 01438T106 507 107,858 SH   DFND 1 107,858 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 608 5,000 SH   DFND 1 5,000 0 0
ALLERGAN PLC SPONSORED ADR G0177J108 17,357 71,400 SH   DFND 1 71,400 0 0
ALPHABET INC - CL C CL C 38259P706 3,544 3,900 SH   DFND 1 0 0 3,900
AMAG PHARMACEUTICALS INC COM 00163U106 1,288 70,000 SH   DFND 1 70,000 0 0
AMERICAN EXPRESS CO COM 025816109 1,483 17,600 SH   DFND 1 17,600 0 0
AMERICAN OUTDOOR BRANDS CORPORATION COM 02874P103 210 9,480 SH   DFND 1 9,480 0 0
AMGEN INC. COM 031162100 7,354 42,700 SH   DFND 1 42,700 0 0
ANHEUSER-BUSCH INBEV NV SPONSORED ADR 03524A108 1,115 10,100 SH   DFND 1 10,100 0 0
ANI PHARMACEUTICALS INC COM 00182C103 568 12,130 SH   DFND 1 12,130 0 0
BAIDU INC COM 056752108 200 1,120 SH   DFND 1 1,120 0 0
BECTON DICKINSON & CO COM 075887109 4,449 22,800 SH   DFND 1 22,800 0 0
BERKSHIRE HATHAWAY INC CL A 084670108 178,035 699 SH   DFND 1 699 0 0
BEST BUY CO INC COM 086516101 233 4,060 SH   DFND 1 4,060 0 0
BIODELIVERY SCIENCES INTERNATIONAL INC COM 09060J106 1,684 601,285 SH   DFND 1 601,285 0 0
BIOGEN INC COM 09062X103 6,165 22,720 SH   DFND 1 22,720 0 0
BIOVERATIV INC COM 09075E100 662 11,000 SH   DFND 1 11,000 0 0
BOEING CO COM 097023105 15,009 75,900 SH   DFND 1 75,900 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108 3,828 68,700 SH   DFND 1 68,700 0 0
CA, INC. COM 12673P105 211 6,130 SH   DFND 1 6,130 0 0
CELGENE CORP COM 151020104 7,455 57,400 SH   DFND 1 57,400 0 0
CHANGYOU.COM LTD COM 15911M107 284 7,340 SH   DFND 1 7,340 0 0
CHICAGO BRIDGE & IRON COMPANY N Y REGISTRY SH 167250109 4,380 222,000 SH   DFND 1 222,000 0 0
CIGNA CORPORATION COM 125509109 216 1,290 SH   DFND 1 1,290 0 0
CISCO SYSTEMS INC COM 17275R102 5,130 163,890 SH   DFND 1 163,890 0 0
COCA COLA CO COM 191216100 2,063 46,000 SH   DFND 1 46,000 0 0
CSG SYSTEMS INTERNATIONAL INC COM 126349109 217 5,350 SH   DFND 1 5,350 0 0
DANAHER CORP COM 235851102 18,211 215,800 SH   DFND 1 215,800 0 0
DAVITA HEALTHCARE PARTNERS INC COM 23918K108 18,709 288,900 SH   DFND 1 288,900 0 0
DEUTSCHE X - TRACKERS HARVEST CSI 300 CHINA A - SHARES FUND ETF 233051879 968 35,500 SH   DFND 1 35,500 0 0
DIAMOND OFFSHORE DRILLING INC COM 25271C102 6,148 567,700 SH   DFND 1 567,700 0 0
DYNAVAX TECHNOLOGIES CORPORATION COM 268158201 808 83,755 SH   DFND 1 83,755 0 0
ECOLAB INC COM 278865100 279 2,100 SH   DFND 1 2,100 0 0
EIGER BIOPHARMACEUTICALS INC COM 28249U105 482 60,992 SH   DFND 1 60,992 0 0
EXPRESS SCRIPTS HOLDING INC COM 30219G108 4,894 76,660 SH   DFND 1 76,660 0 0
EXXON MOBIL CORPORATION COM 30231G102 6,579 81,493 SH   DFND 1 81,493 0 0
FORTIVE CORP COM 34959J108 8,977 141,700 SH   DFND 1 141,700 0 0
GILEAD SCIENCES INC COM 375558103 9,154 129,330 SH   DFND 1 129,330 0 0
INTERNATIONAL BUSINESS MACHINES CORP COM 459200101 46,180 300,200 SH   DFND 1 300,200 0 0
INTUITIVE SURGICAL INC COM 46120E602 7,268 7,770 SH   DFND 1 7,770 0 0
JACK HENRY & ASSOCIATES INC COM 426281101 1,423 13,700 SH   DFND 1 13,700 0 0
JOHNSON & JOHNSON COM 478160104 22,741 171,900 SH   DFND 1 171,900 0 0
THE KRAFT HEINZ COMPANY COM 500754106 1,655 19,320 SH   DFND 1 19,320 0 0
L BRANDS INC COM 501797104 219 4,070 SH   DFND 1 4,070 0 0
LOEWS CORPORATION COM 540424108 454 9,700 SH   DFND 1 9,700 0 0
MASTERCARD INC CL A 57636Q104 1,215 10,000 SH   DFND 1 10,000 0 0
MCDONADLD'S CORP COM 580135101 1,541 10,060 SH   DFND 1 10,060 0 0
MEDTRONIC INC COM 585055106 4,500 50,700 SH   DFND 1 50,700 0 0
MIRATI THERAPEUTICS INC COM 60468T105 365 100,000 SH   DFND 1 100,000 0 0
NATIONAL OILWELL VARCO INC COM 637071101 9,665 293,400 SH   DFND 1 293,400 0 0
NESTLE SA SPONSORED ADR 641069406 3,610 41,400 SH   DFND 1 41,400 0 0
NETEASE INC COM 64110W102 210 700 SH   DFND 1 700 0 0
NOVO NORDISK A/S SPONSORED ADR 670100205 18,177 423,800 SH   DFND 1 423,800 0 0
NOW INC COM 67011P100 895 55,675 SH   DFND 1 55,675 0 0
NVR INC COM 62944T105 217 90 SH   DFND 1 90 0 0
OCERA THERAPEUTICS INC COM 67552A108 437 376,596 SH   DFND 1 376,596 0 0
OPKO HEALTH INC COM 68375N103 917 139,405 SH   DFND 1 139,405 0 0
PHILLIPS 66 COM 718546104 17,836 215,700 SH   DFND 1 215,700 0 0
POTASH CORP SASK INC COM 73755L107 13,630 836,200 SH   DFND 1 836,200 0 0
PRAXAIR INC COM 74005P104 20,018 151,020 SH   DFND 1 151,020 0 0
RAYTHEON COMPANY COM 755111507 208 1,290 SH   DFND 1 1,290 0 0
REYNOLDS AMERICAN INC COM 761713106 200 3,080 SH   DFND 1 3,080 0 0
ROBERT HALF INTERNATIONAL INC COM 770323103 204 4,260 SH   DFND 1 4,260 0 0
ROCHE HOLDING AG SPONSORED ADR 771195104 5,438 171,000 SH   DFND 1 171,000 0 0
ROPER TECHNOLOGIES INC COM 776696106 16,346 70,600 SH   DFND 1 70,600 0 0
SILICON MOTION TECHNOLOGY CORPORATION COM 82706C108 204 4,230 SH   DFND 1 4,230 0 0
STEVEN MADDEN LTD COM 556269108 211 5,290 SH   DFND 1 5,290 0 0
SANOFI-AVENTIS SA SPONSORED ADR 80105N105 8,207 171,300 SH   DFND 1 171,300 0 0
STERICYCLE,INC COM 858912108 9,922 130,000 SH   DFND 1 130,000 0 0
SYNERGY PHARMACEUTICALS INC COM 871639308 2,225 500,000 SH   DFND 1 500,000 0 0
SYNTEL INC COM 87162H103 530 31,270 SH   DFND 1 31,270 0 0
TEMPUR SEALY INTERNATIONAL INC COM 88023U101 232 4,350 SH   DFND 1 4,350 0 0
TG THERAPEUTICS INC COM 88322Q108 603 60,000 SH   DFND 1 60,000 0 0
TUNIU CORPORATION COM 89977P106 189 23,520 SH   DFND 1 23,520 0 0
TUPPERWARE BRANDS CORPORATION COM 899896104 220 3,130 SH   DFND 1 3,130 0 0
UBIQUITI NETWORKS INC COM 90347A100 205 3,950 SH   DFND 1 3,950 0 0
UNITED TECHNOLOGIES CORP COM 913017109 18,768 153,700 SH   DFND 1 153,700 0 0
UNITED THERAPEUTICS CORPORATION COM 91307C102 1,491 11,490 SH   DFND 1 11,490 0 0
USANA HEALTH SCIENCES INC COM 90328M107 221 3,440 SH   DFND 1 3,440 0 0
US BANCORP COM 902973304 5,862 112,900 SH   DFND 1 112,900 0 0
VANGUARD FTSE EMERGING MARKETS ETF ETF 922042858 449 11,000 SH   DFND 1 11,000 0 0
VANGUARD S&P 500 ETF ETF 922908363 2,998 13,500 SH   DFND 1 13,500 0 0
VERISIGN INC COM 92343E102 207 2,230 SH   DFND 1 2,230 0 0
VIPSHOP HOLDINGS LTD COM 92763W103 152 14,450 SH   DFND 1 14,450 0 0
VISA INC CL A 92826C839 16,121 171,900 SH   DFND 1 171,900 0 0
WABASH NATIONAL CORPORATION COM 929566107 209 9,510 SH   DFND 1 9,510 0 0
WABTEC CORPORATION COM 929740108 15,665 171,200 SH   DFND 1 171,200 0 0
WATERS CORPORATION COM 941848103 9,523 51,800 SH   DFND 1 51,800 0 0
WELLS FARGO & CO COM 949746101 85,576 1,544,420 SH   DFND 1 1,544,420 0 0