Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	CELGENE CORP	1,498,738	$150M	7.3%	$100.88	—	COMMON	151020104
GILD	GILEAD SCIENCES INC	1,626,764	$149M	7.2%	$60.49	+4.9%	COMMON	375558103
BMRN	BIOMARIN PHARMAC INC	1,489,137	$123M	5.9%	$79.24	+2.7%	COMMON	09061G101
AMGN	AMGEN INC	682,797	$102M	4.9%	$84.85	+30.6%	COMMON	031162100
—	ALEXION PHARM INC	657,013	$91.47M	4.4%	$136.93	—	COMMON	015351109
REGN	REGENERON PHARMCTCLS	232,770	$83.9M	4.1%	$499.57	-18.0%	COMMON	75886F107
INCY	INCYTE CORPORATION	1,153,540	$83.6M	4.0%	$48.98	+52.2%	COMMON	45337C102
FOLD	AMICUS THERAPEUTICS	9,226,145	$77.96M	3.8%	$8.40	-15.7%	COMMON	03152W109
VRTX	VERTEX PHARMACEUTICL	896,479	$71.26M	3.4%	$104.59	-13.5%	COMMON	92532F100
—	SHIRE PLC	405,347	$69.68M	3.4%	$178.83	—	SP ADR	82481R106
NBIX	NEUROCRINE BIOSCIENC	1,649,963	$65.26M	3.2%	$42.50	-6.6%	COMMON	64125C109
BIIB	BIOGEN INC	234,572	$61.06M	3.0%	$272.68	-3.1%	COMMON	09062X103
TMO	THERMO FISHER SCI	370,376	$52.44M	2.5%	$100.42	+29.7%	COMMON	883556102
MRK	MERCK & CO INC	749,914	$39.68M	1.9%	$39.37	-8.5%	COMMON	58933Y105
DXCM	DEXCOM INC	571,559	$38.81M	1.9%	$13.21	+26.5%	COMMON	252131107
—	ACCELERON PHARMA	1,437,235	$37.93M	1.8%	$37.19	—	COMMON	00434H108
LLY	ELI LILLY & CO	506,695	$36.49M	1.8%	$69.71	-8.2%	COMMON	532457108
MDT	MEDTRONIC PLC	475,931	$35.7M	1.7%	$58.25	+1.1%	SHS	G5960L103
—	PORTOLA PHARMACEUTIC	1,593,039	$32.5M	1.6%	$20.40	—	COMMON	737010108
—	ALDER BIOPHARMACEU	1,291,153	$31.62M	1.5%	$27.89	—	COMMON	014339105
—	INTERCEPT PHARMACE	245,447	$31.53M	1.5%	$208.04	—	COMMON	45845P108
ALGN	ALIGN TECH INC	422,486	$30.71M	1.5%	$49.75	+31.6%	COMMON	016255101
—	TESARO INC	689,869	$30.38M	1.5%	$48.90	—	COMMON	881569107
—	MYLAN N V	589,627	$27.33M	1.3%	$56.46	—	SHS EURO	N59465109
TEVA	TEVA PHARMACEUTICAL	509,110	$27.24M	1.3%	$53.08	—	ADR	881624209
—	ADEPTUS HEALTH INC	444,783	$24.7M	1.2%	$55.11	—	CL A	006855100
—	NXSTAGE MEDICAL	1,647,309	$24.69M	1.2%	$14.62	—	COMMON	67072V103
ACHC	ACADIA HEALTHCARE	418,805	$23.08M	1.1%	$63.74	-10.5%	COMMON	00404A109
UNH	UNITEDHEALTH GRP INC	175,590	$22.63M	1.1%	$101.03	-0.1%	COMMON	91324P102
—	ADVAXIS INC	2,174,015	$19.63M	0.9%	$9.98	—	COMMON	007624208
ACAD	ACADIA PHARMACEUTCLS	690,700	$19.31M	0.9%	$21.84	0.0%	COMMON	004225108
—	ST JUDE MEDICAL INC	334,584	$18.4M	0.9%	$62.96	—	COMMON	790849103
—	SAGENT PHARMACEUTI	1,501,296	$18.27M	0.9%	$16.23	—	COMMON	786692103
IONS	IONIS PHARMACEUTICAL	433,300	$17.55M	0.8%	$45.24	-10.2%	COMMON	462222100
QURE	UNIQURE N.V.	1,427,313	$16.96M	0.8%	$22.91	-35.5%	SHS	N90064101
PTCT	PTC THERAPEUTICS I	2,615,241	$16.84M	0.8%	$23.87	-27.3%	COMMON	69366J200
PRTA	PROTHENA CORP PLC	398,100	$16.39M	0.8%	$39.14	0.0%	SHS	G72800108
—	OPHTHOTECH CORP	357,106	$15.1M	0.7%	$71.61	—	COMMON	683745103
ISRG	INTUITIVE SURGIC INC	23,367	$14.04M	0.7%	$47.23	+31.2%	COMMON	46120E602
—	SAGE THERAPEUTICS	421,084	$13.5M	0.7%	$32.06	—	COMMON	78667J108
—	AIMMUNE THERAPEUTICS	982,133	$13.32M	0.6%	$23.99	—	COMMON	00900T107
TGTX	TG THERAPEUTICS	1,521,667	$12.96M	0.6%	$15.09	-42.0%	COMMON	88322Q108
NVO	NOVO-NORDISK AS	216,175	$11.71M	0.6%	$56.46	—	ADR	670100205
—	TEAM HEALTH HLDGS	269,000	$11.25M	0.5%	$41.81	—	COMMON	87817A107
—	IMMUNE DESIGN CORP	856,867	$11.14M	0.5%	$20.24	—	COMMON	45252L103
EW	EDWARDS LIFESCIENCE	110,541	$9.751M	0.5%	$23.89	+15.5%	COMMON	28176E108
TDOC	TELADOC INC	975,533	$9.365M	0.5%	$20.38	-30.3%	COMMON	87918A105
NVS	NOVARTIS AG	123,805	$8.968M	0.4%	$92.53	—	SP ADR	66987V109
—	AVEXIS INC	297,600	$8.107M	0.4%	$27.24	—	COMMON	05366U100
—	NUVASIVE INC	166,300	$8.09M	0.4%	$48.65	—	COMMON	670704105
—	PRONAI THERAPEUTICS	1,137,073	$7.664M	0.4%	$17.21	—	COMMON	74346L101
—	CARA THERAPEUTICS	1,212,578	$7.542M	0.4%	$14.69	—	COMMON	140755109
RGNX	REGENXBIO INC	680,241	$7.347M	0.4%	$19.36	-33.9%	COMMON	75901B107
—	AMSURG CORP	96,400	$7.191M	0.3%	$74.60	—	COMMON	03232P405
—	MOMENTA PHARMACEUTIC	680,552	$6.288M	0.3%	$10.58	—	COMMON	60877T100
COLL	COLLEGIUM PHARMACEUT	294,400	$5.343M	0.3%	$18.18	0.0%	COMMON	19459J104
MOH	MOLINA HEALTHCARE	81,000	$5.224M	0.3%	$59.38	0.0%	COMMON	60855R100
—	ABIOMED INC	53,600	$5.082M	0.2%	$94.81	—	COMMON	003654100
ARAY	ACCURAY INC	771,950	$4.462M	0.2%	$5.54	0.0%	COMMON	004397105
—	PRA HEALTH SCIENCE	97,800	$4.182M	0.2%	$42.76	—	COMMON	69354M108
RDY	DR REDDYS LABS LTD	92,105	$4.162M	0.2%	$46.18	—	ADR	256135203
IART	INTEGRA LIFESCIENCE	60,560	$4.079M	0.2%	$31.15	0.0%	COMMON	457985208
—	SURGICAL CARE AFFI	79,400	$3.675M	0.2%	$46.28	—	COMMON	86881L106
—	WRIGHT MED GROUP N V	181,935	$3.02M	0.1%	$16.60	—	ORD SHS 0.03 PAR	N96617118
—	ALLERGAN PLC	10,631	$2.849M	0.1%	$303.46	—	SHS	G0177J108
—	ENTELLUS MED INC	149,665	$2.722M	0.1%	$18.19	—	COMMON	29363K105
—	ANACOR PHARMACEUTI	46,500	$2.485M	0.1%	$53.44	—	COMMON	032420101
—	TANDEM DIABETES CA	268,690	$2.34M	0.1%	$8.71	—	COMMON	875372104
—	LANNETT CO INC	129,957	$2.33M	0.1%	$17.93	—	COMMON	516012101
—	INTERSECT ENT INC	115,540	$2.195M	0.1%	$19.00	—	COMMON	46071F103
PRGO	PERRIGO CO	17,030	$2.179M	0.1%	$145.33	-5.9%	SHS	G97822103
—	NOVAVAX INC	412,500	$2.129M	0.1%	$5.16	—	COMMON	670002104
—	MALLINCKRODT PLC	27,467	$1.683M	0.1%	$62.74	—	SHS	G5785G107
—	PRONAI THERAPEUTICS	201,660	$1.359M	0.1%	$6.74	—	COMMON	074346L10
—	PROFOUND MEDICAL	1,031,700	$917K	0.0%	$0.58	—	COMMON	74319B106
—	AKORN INC	33,744	$794K	0.0%	$17.80	—	COMMON	009728106
—	CHINA BIOLOGIC PROD	5,890	$674K	0.0%	$89.77	—	COMMON	16938C106
ASND	ASCENDIS PHARMA A S	31,100	$577K	0.0%	$17.35	—	SP ADR	04351P101
AMPH	AMPHASTAR PHARMACTLS	38,905	$467K	0.0%	$12.09	-2.5%	COMMON	03209R103
—	NEKTAR THERAPEUTICS	12,760	$175K	0.0%	$12.62	—	COMMON	640268108
IRWD	IRONWOOD PHARMACEUCL	10,725	$117K	0.0%	$9.66	-14.7%	COM CL A	46333X108