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
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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
Achillion Pharmaceuticals, Inc. COM 00448Q201 5,906 1,779,340 SH   DFND 3 0 0 0
Alexion Pharmaceuticals, Inc. COM 015351109 100,650 757,428 SH   DFND 2 0 0 0
Alnylam Pharmaceuticals, Inc. COM 02043Q107 30,304 471,288 SH   DFND 3 0 0 0
Ariad Pharmaceuticals, Inc. COM 04033A100 9,461 1,387,171 SH   DFND 3 0 0 0
Celgene Corp. COM 151020104 342,882 2,029,271 SH   DFND 2 0 0 0
Clovis Oncology Inc. COM 189464100 29,423 488,188 SH   DFND 3 0 0 0
Cubist Pharmaceuticals, Inc. RIGHT 99/99/9999 229678123 1,183 876,273 SH   DFND 3 0 0 0
Endocyte, Inc. COM 29269A102 28,233 2,643,522 SH   DFND 3 0 0 0
Gilead Sciences, Inc COM 375558103 266,433 3,547,714 SH   DFND 1 0 0 0
Halozyme Therapeutics, Inc. COM 40637H109 70,827 4,724,936 SH   DFND 3 0 0 0
Idenix Pharmaceuticals, Inc. COM 45166R204 7,475 1,250,000 SH   DFND 3 0 0 0
ImmunoGen, Inc. COM 45253H101 47,323 3,225,816 SH   DFND 3 0 0 0
Incyte Corp. COM 45337C102 213,714 4,221,087 SH   DFND 3 0 0 0
Infinity Pharmaceuticals Inc. COM 45665G303 17,963 1,300,737 SH   DFND 3 0 0 0
Isis Pharmaceuticals, Inc. COM 464330109 255,675 6,417,548 SH   DFND 3 0 0 0
Medivation, Inc. COM 58501N101 94,435 1,479,706 SH   DFND 3 0 0 0
Neurocrine Biosciences, Inc. COM 64125C109 24,719 2,646,552 SH   DFND 3 0 0 0
Pharmacyclics, Inc. COM 716933106 67,333 636,542 SH   DFND 2 0 0 0
Regeneron Pharmaceuticals, Inc. COM 75886F107 52,846 192,000 SH   DFND 2 0 0 0
Synageva BioPharma Corp. COM 87159A103 55,579 858,757 SH   DFND 3 0 0 0
Theravance Inc. COM 88338T104 31,666 888,244 SH   DFND 3 0 0 0
Tesaro, Inc. COM 881569107 13,309 471,282 SH   DFND 3 0 0 0
Vertex Pharmaceuticals Inc. COM 92532F100 104,350 1,404,445 SH   DFND 3 0 0 0