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 2,416 52,137 SH   DFND 1,2 0 52,137 0
ABBVIE INC COM 00287Y109 1,932 33,000 SH   DFND 1,2 0 33,000 0
ADAMAS PHARMACEUTICALS INC COM 00548A106 29,037 1,662,128 SH   DFND   1,662,128 0 0
AKORN INC COM 009728106 1,568 33,000 SH   DFND 1,2 0 33,000 0
BIODELIVERY SCIENCES INTL IN COM 09060J106 1,260 120,000 SH   DFND 1,2 0 120,000 0
BIOGEN INC COM 09062X103 1,520 3,600 SH   DFND 1,2 0 3,600 0
BOSTON SCIENTIFIC CORP COM 101137107 1,864 105,000 SH   DFND 1,2 0 105,000 0
BROADCOM CORP CL A 111320107 4,533 104,702 SH   DFND 1,2 0 104,702 0
C H ROBINSON WORLDWIDE INC COM NEW 12541W209 4,527 61,829 SH   DFND 1,2 0 61,829 0
CARDINAL HEALTH INC COM 14149Y108 1,896 21,000 SH   DFND 1,2 0 21,000 0
CELGENE CORP COM 151020104 3,574 31,000 SH   DFND 1,2 0 31,000 0
CERUS CORP COM 157085101 980 235,000 SH   DFND 1,2 0 235,000 0
CRACKER BARREL OLD CTRY STOR COM 22410J106 6,041 39,709 SH   DFND 1,2 0 39,709 0
DYNAVAX TECHNOLOGIES CORP COM NEW 268158201 464 20,697 SH   DFND 1,2 0 20,697 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 4,968 57,259 SH   DFND 1,2 0 57,259 0
GILEAD SCIENCES INC COM 375558103 3,690 37,600 SH   DFND 1,2 0 37,600 0
GOOGLE INC CL A 38259P508 1,947 3,510 SH   DFND 1,2 0 3,510 0
GOOGLE INC CL C 38259P706 1,961 3,579 SH   DFND 1,2 0 3,579 0
HEAT BIOLOGICS INC COM 42237K102 318 50,000 SH   DFND 1,2 0 50,000 0
HERSHEY CO COM 427866108 4,395 43,550 SH   DFND 1,2 0 43,550 0
HYPERION THERAPEUTICS INC COM 44915N101 1,882 41,000 SH   DFND 1,2 0 41,000 0
INC RESH HLDGS INC CL A 45329R109 674 20,600 SH   DFND 1,2 0 20,600 0
INNOPHOS HOLDINGS INC COM 45774N108 4,226 74,987 SH   DFND 1,2 0 74,987 0
INTEL CORP COM 458140100 3,739 119,580 SH   DFND 1,2 0 119,580 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 4,748 20,354 SH   DFND 1,2 0 20,354 0
INTUITIVE SURGICAL INC COM NEW 46120E602 4,225 8,366 SH   DFND 1,2 0 8,366 0
JOHNSON & JOHNSON COM 478160104 3,027 30,089 SH   DFND 1,2 0 30,089 0
MCCORMICK & CO INC COM NON VTG 579780206 4,629 60,027 SH   DFND 1,2 0 0 60,027
MICROSFOT CORP COM 594918104 3,561 87,602 SH   DFND 1,2 0 87,602 0
MSC INDL DIRECT INC CL A 553530106 3,476 48,144 SH   DFND 1,2 0 48,144 0
PAN AMERICAN SILVER CORP COM 697900108 5,746 655,138 SH   DFND 1,2 0 655,138 0
PERKINELMER INC COM 714046109 1,688 33,000 SH   DFND 1,2 0 33,000 0
PERRIGO CO PLC SHS G97822103 1,533 9,262 SH   DFND 1,2 0 9,262 0
PFIZER INC COM 717081103 1,740 50,000 SH   DFND 1,2 0 50,000 0
POTASH CORP SASK INC COM 73755L107 3,932 121,929 SH   DFND 1,2 0 121,929 0
PRICELINE GRP INC COM NEW 741503403 4,233 3,636 SH   DFND 1,2 0 3,636 0
QUINTILES TRANSNATIO HLDGS I COM 74876Y101 1,674 25,000 SH   DFND 1,2 0 25,000 0
RADIUS HEALTH INC COM NEW 750469207 395 9,600 SH   DFND 1,2 0 9,600 0
ROYAL GOLD INC COM 780287108 12,512 198,254 SH   DFND 1,2 0 198,254 0
SILVER WHEATON CORP COM 828336107 11,462 602,635 SH   DFND 1,2 0 602,635 0
SPDR GOLD TRUST GOLD SHS 78463V107 136,483 1,200,800 SH   DFND 1,2 0 1,200,800 0
STRYKER CORP COM 863667101 738 8,000 SH   DFND 1,2 0 8,000 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 1,620 26,000 SH   DFND 1,2 0 26,000 0
THERMO FISHER SCIENTIFIC INC COM 883556102 846 6,300 SH   DFND 1,2 0 6,300 0
ULTA SALON COSMETCS & FRAG I COM 90384S303 5,382 35,675 SH   DFND 1,2 0 35,675 0
VARIAN MED SYS INC COM 92220P105 4,793 50,945 SH   DFND 1,2 0 50,945 0
WATERS CORP COM 941848103 5,143 41,373 SH   DFND 1,2 0 41,373 0