Rhenman & Partners Asset Management AB Activity Q4 2013-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
LLY	Buy	LILLY ELI & CO	$53,713,000	+41.4%	100,000	+23.5%	5.79%	+44.6%
BSX	Buy	BOSTON SCIENTIFIC CORP	$36,960,000	+17.8%	700,000	+20.7%	3.98%	+20.5%
REGN	Buy	REGENERON PHARMACEUTICALS	$32,918,400	+30.9%	40,000	+14.3%	3.55%	+33.9%
MDT	Buy	MEDTRONIC PLC	$29,385,000	+14.2%	375,000	+28.4%	3.17%	+16.8%
VRTX	Buy	VERTEX PHARMACEUTICALS INC	$26,602,110	+19.0%	76,500	+20.5%	2.87%	+21.7%
ABT	Buy	ABBOTT LABS	$25,343,224	-6.6%	261,675	+5.1%	2.73%	-4.5%
HUM	Buy	HUMANA INC	$23,839,480	+15.9%	49,000	+6.5%	2.57%	+18.5%
UNH	Sell	UNITED HEALTH GROUP INC	$23,192,740	-19.6%	46,000	-23.3%	2.50%	-17.7%
CI	Sell	CIGNA CORP NEW	$22,885,600	-29.1%	80,000	-30.4%	2.47%	-27.5%
THC	Buy	TENET HEALTHCARE CORP	$22,073,150	-6.5%	335,000	+15.5%	2.38%	-4.3%
CVS	Buy	CVS HEALTH CORP	$20,946,000	+22.2%	300,000	+21.0%	2.26%	+25.0%
HCA	Buy	HCA HEALTHCARE INC	$20,416,340	+4.3%	83,000	+28.7%	2.20%	+6.7%
ISRG	Buy	INTUITIVE SURGICAL INC	$19,729,575	+31.1%	67,500	+53.4%	2.13%	+34.1%
COO	Buy	COOPER COS INC	$19,065,000	-5.8%	60,000	+13.6%	2.06%	-3.7%
JAZZ	Sell	JAZZ PHARMACEUTICALS PLC	$18,591,985	+3.4%	143,634	-0.9%	2.00%	+5.8%
ANTM	Sell	ELEVANCE HEALTH INC	$16,545,960	-33.5%	38,000	-32.1%	1.78%	-32.0%
	Buy	PROCEPT BIOROBOTICS CORP	$16,175,330	+64.0%	493,000	+76.7%	1.74%	+67.7%
SWAV	Buy	SHOCKWAVE MEDICAL INC	$16,127,100	+0.9%	81,000	+44.6%	1.74%	+3.2%
BIIB	Sell	BIOGEN INC	$14,521,065	-21.0%	56,500	-12.4%	1.57%	-19.2%
NTRA	Buy	NATERA INC	$11,804,528	+21.3%	266,769	+33.4%	1.27%	+24.1%
LNTH	Buy	LANTHEUS HLDGS INC	$11,672,640	+39.1%	168,000	+68.0%	1.26%	+42.1%
IMGN	Sell	IMMUNOGEN INC	$11,109,000	-21.5%	700,000	-6.7%	1.20%	-19.7%
EXAS	Sell	EXACT SCIENCES CORP	$10,915,200	-33.6%	160,000	-8.6%	1.18%	-32.0%
ALKS	Buy	ALKERMES PLC	$10,363,700	-5.4%	370,000	+5.7%	1.12%	-3.3%
CRL	New	CHARLES RIV LABS INTL INC	$8,623,120	–	44,000	–	0.93%	–
ALHC	Buy	ALIGNMENT HEALTHCARE INC	$8,328,000	+44.8%	1,200,000	+20.0%	0.90%	+48.2%
APLS	Buy	APELLIS PHARMACEUTICALS INC	$8,178,600	-52.7%	215,000	+13.2%	0.88%	-51.7%
MRTX	Buy	MIRATI THERAPEUTICS INC	$7,623,000	+50.7%	175,000	+25.0%	0.82%	+54.2%
ZBH	Sell	ZIMMER BIOMET HOLDINGS INC	$6,733,200	-66.5%	60,000	-56.5%	0.73%	-65.7%
IMVT	Buy	IMMUNOVANT INC	$6,375,082	+236.1%	166,061	+66.1%	0.69%	+243.5%
NBIX	Buy	NEUROCRINE BIOSCIENCES INC	$6,138,675	+62.7%	54,566	+36.4%	0.66%	+66.3%
BNTX	Sell	BIONTECH SEsponsored ads	$5,757,920	-23.8%	53,000	-24.3%	0.62%	-22.0%
GKOS	Sell	GLAUKOS CORP	$5,493,250	-18.8%	73,000	-23.2%	0.59%	-17.0%
VEEV	Sell	VEEVA SYS INC	$4,679,350	-32.4%	23,000	-34.3%	0.50%	-30.7%
IOVA	Buy	IOVANCE BIOTHERAPEUTICS INC	$4,322,500	-27.8%	950,000	+11.8%	0.47%	-26.1%
OSCR	New	OSCAR HEALTH INCcl a	$4,288,900	–	770,000	–	0.46%	–
DXCM	New	DEXCOM INC	$4,198,500	–	45,000	–	0.45%	–
RVNC	Buy	REVANCE THERAPEUTICS INC	$4,148,458	+33.3%	361,679	+194.0%	0.45%	+36.3%
MRNA	Sell	MODERNA INC	$3,098,700	-43.3%	30,000	-33.3%	0.33%	-42.0%
TECH	Sell	BIO-TECHNE CORP	$2,905,228	-25.1%	42,680	-10.1%	0.31%	-23.5%
TXG	Sell	10X GENOMICS INC	$2,805,000	-63.1%	68,000	-50.0%	0.30%	-62.3%
HRMY	Sell	HARMONY BIOSCIENCES HLDGS IN	$2,669,903	-63.9%	81,474	-61.2%	0.29%	-63.0%
CNC	New	CENTENE CORP DEL	$2,066,400	–	30,000	–	0.22%	–
INSP	Sell	INSPIRE MED SYS INC	$1,389,080	-72.2%	7,000	-54.5%	0.15%	-71.5%
TGTX	Buy	TG THERAPEUTICS INC	$1,337,600	-2.1%	160,000	+190.9%	0.14%	0.0%
OM	Sell	OUTSET MED INC	$544,000	-92.5%	50,000	-84.9%	0.06%	-92.3%
RIGL	Exit	RIGEL PHARMACEUTICALS INC	$0	–	-253,832	–	-0.04%	–
MOH	Exit	MOLINA HEALTHCARE INC	$0	–	-21,700	–	-0.69%	–

Q2 2023

			Value		Shares		↓ Weighting
LLY	New	LILLY ELI & CO	$37,987,380	–	81,000	–	4.00%	–
BMRN	New	BIOMARIN PHARMACEUTICAL INC	$32,938,400	–	380,000	–	3.47%	–
CI	New	CIGNA CORP NEW	$32,264,791	–	114,985	–	3.40%	–
BSX	New	BOSTON SCIENTIFIC CORP	$31,372,200	–	580,000	–	3.31%	–
MCK	New	MCKESSON CORP	$30,339,010	–	71,000	–	3.20%	–
UNH	New	UNITED HEALTH GROUP INC	$28,838,400	–	60,000	–	3.04%	–
ABT	New	ABBOTT LABS	$27,145,980	–	249,000	–	2.86%	–
MDT	New	MEDTRONIC PLC	$25,725,200	–	292,000	–	2.71%	–
REGN	New	REGENERON PHARMACEUTICALS	$25,148,900	–	35,000	–	2.65%	–
BDX	New	BECTON DICKINSON & CO	$25,080,950	–	95,000	–	2.64%	–
ANTM	New	ELEVANCE HEALTH INC	$24,880,240	–	56,000	–	2.62%	–
THC	New	TENET HEALTHCARE CORP	$23,600,200	–	290,000	–	2.49%	–
ABC	New	AMERISOURCEBERGEN CORP	$22,899,170	–	119,000	–	2.41%	–
VRTX	New	VERTEX PHARMACEUTICALS INC	$22,346,285	–	63,500	–	2.36%	–
MRK	New	MERCK & CO. INC	$21,924,100	–	190,000	–	2.31%	–
HUM	New	HUMANA INC	$20,567,980	–	46,000	–	2.17%	–
COO	New	COOPER COS INC	$20,245,104	–	52,800	–	2.13%	–
ABBV	New	ABBVIE INC	$20,209,500	–	150,000	–	2.13%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$20,092,800	–	138,000	–	2.12%	–
HCA	New	HCA HEALTHCARE INC	$19,574,460	–	64,500	–	2.06%	–
BIIB	New	BIOGEN INC	$18,372,825	–	64,500	–	1.94%	–
GILD	New	GILEAD SCIENCES INC	$18,034,380	–	234,000	–	1.90%	–
JAZZ	New	JAZZ PHARMACEUTICALS PLC	$17,975,650	–	145,000	–	1.90%	–
APLS	New	APELLIS PHARMACEUTICALS INC	$17,309,000	–	190,000	–	1.82%	–
CVS	New	CVS HEALTH CORP	$17,144,240	–	248,000	–	1.81%	–
EXAS	New	EXACT SCIENCES CORP	$16,432,500	–	175,000	–	1.73%	–
SWAV	New	SHOCKWAVE MEDICAL INC	$15,982,960	–	56,000	–	1.68%	–
ISRG	New	INTUITIVE SURGICAL INC	$15,045,360	–	44,000	–	1.59%	–
DHR	New	DANAHER CORPORATION	$14,400,000	–	60,000	–	1.52%	–
IMGN	New	IMMUNOGEN INC	$14,152,500	–	750,000	–	1.49%	–
PRVA	New	PRIVIA HEALTH GROUP INC	$12,010,600	–	460,000	–	1.27%	–
AXNX	New	AXONICS INC	$11,608,100	–	230,000	–	1.22%	–
ALKS	New	ALKERMES PLC	$10,955,000	–	350,000	–	1.16%	–
IQV	New	IQVIA HLDGS INC	$10,564,190	–	47,000	–	1.11%	–
	New	PROCEPT BIOROBOTICS CORP	$9,862,650	–	279,000	–	1.04%	–
NTRA	New	NATERA INC	$9,732,000	–	200,000	–	1.03%	–
DVAX	New	DYNAVAX TECHNOLOGIES CORP	$9,044,000	–	700,000	–	0.95%	–
ALNY	New	ALNYLAM PHARMACEUTICALS INC	$8,547,300	–	45,000	–	0.90%	–
LNTH	New	LANTHEUS HLDGS INC	$8,392,000	–	100,000	–	0.88%	–
TXG	New	10X GENOMICS INC	$7,594,240	–	136,000	–	0.80%	–
KRTX	New	KARUNA THERAPEUTICS INC	$7,589,750	–	35,000	–	0.80%	–
BNTX	New	BIONTECH SEsponsored ads	$7,555,100	–	70,000	–	0.80%	–
HRMY	New	HARMONY BIOSCIENCES HLDGS IN	$7,389,900	–	210,000	–	0.78%	–
OM	New	OUTSET MED INC	$7,230,987	–	330,635	–	0.76%	–
VEEV	New	VEEVA SYS INC	$6,920,550	–	35,000	–	0.73%	–
GKOS	New	GLAUKOS CORP	$6,764,950	–	95,000	–	0.71%	–
MOH	New	MOLINA HEALTHCARE INC	$6,536,908	–	21,700	–	0.69%	–
CYTK	New	CYTOKINETICS INC	$6,524,000	–	200,000	–	0.69%	–
ITCI	New	INTRA-CELLULAR THERAPIES INC	$6,015,400	–	95,000	–	0.63%	–
IOVA	New	IOVANCE BIOTHERAPEUTICS INC	$5,984,000	–	850,000	–	0.63%	–
ALHC	New	ALIGNMENT HEALTHCARE INC	$5,750,000	–	1,000,000	–	0.61%	–
XNCR	New	XENCOR INC	$5,618,250	–	225,000	–	0.59%	–
	New	R1 RCM INC	$5,535,000	–	300,000	–	0.58%	–
MRNA	New	MODERNA INC	$5,467,500	–	45,000	–	0.58%	–
IMCR	New	IMMUNOCORE HLDGS PLCads	$5,353,109	–	89,278	–	0.56%	–
MRTX	New	MIRATI THERAPEUTICS INC	$5,058,200	–	140,000	–	0.53%	–
INSP	New	INSPIRE MED SYS INC	$4,999,456	–	15,400	–	0.53%	–
RPRX	New	ROYALTY PHARMA PLC	$4,611,000	–	150,000	–	0.49%	–
EVH	New	EVOLENT HEALTH INCcl a	$4,393,500	–	145,000	–	0.46%	–
HCAT	New	HEALTH CATALYST INC	$4,000,000	–	320,000	–	0.42%	–
TECH	New	BIO-TECHNE CORP	$3,877,425	–	47,500	–	0.41%	–
NBIX	New	NEUROCRINE BIOSCIENCES INC	$3,772,000	–	40,000	–	0.40%	–
MGTX	New	MEIRAGTX HLDGS PLC	$3,621,986	–	538,986	–	0.38%	–
	New	NUVALENT INC	$3,627,084	–	86,011	–	0.38%	–
WST	New	WEST PHARMACEUTICAL SVSC INC	$3,442,230	–	9,000	–	0.36%	–
RVNC	New	REVANCE THERAPEUTICS INC	$3,113,130	–	123,000	–	0.33%	–
OLK	New	OLINK HLDG ABsponsored ads	$3,112,500	–	166,000	–	0.33%	–
VKTX	New	VIKING THERAPEUTICS INC	$2,917,800	–	180,000	–	0.31%	–
AXSM	New	AXSOME THERAPEUTICS INC	$2,881,586	–	40,100	–	0.30%	–
EW	New	EDWARDS LIFESCIENCES CORP	$2,735,570	–	29,000	–	0.29%	–
RLAY	New	RELAY THERAPEUTICS INC	$2,386,400	–	190,000	–	0.25%	–
BBIO	New	BRIDGEBIO PHARMA INC	$2,322,000	–	135,000	–	0.24%	–
ARVN	New	ARVINAS INC	$2,109,700	–	85,000	–	0.22%	–
NTLA	New	INTELLIA THERAPEUTICS INC	$2,039,000	–	50,000	–	0.22%	–
IMVT	New	IMMUNOVANT INC	$1,897,000	–	100,000	–	0.20%	–
IGMS	New	IGM BIOSCIENCES INC	$1,846,000	–	200,000	–	0.20%	–
INMB	New	INMUNE BIO INC	$1,618,819	–	178,284	–	0.17%	–
ALLO	New	ALLOGENE THERAPEUTICS INC	$1,491,000	–	300,000	–	0.16%	–
TGTX	New	TG THERAPEUTICS INC	$1,366,200	–	55,000	–	0.14%	–
MRSN	New	MERSANA THERAPEUTICS INC	$1,316,000	–	400,000	–	0.14%	–
EPIX	New	ESSA PHARMA INC	$962,550	–	356,500	–	0.10%	–
RIGL	New	RIGEL PHARMACEUTICALS INC	$327,443	–	253,832	–	0.04%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$260,875	–	500	–	0.03%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	RAPID MICRO BIOSYSTEMS INC	$0	–	-300,000	–	-0.09%	–
RIGL	Exit	RIGEL PHARMACEUTICALS INC	$0	–	-1,225,081	–	-0.09%	–
EPIX	Exit	ESSA PHARMA INC	$0	–	-375,000	–	-0.14%	–
STXS	Exit	STEREOTAXIS INC	$0	–	-797,330	–	-0.16%	–
HCAT	Exit	HEALTH CATALYST INC	$0	–	-180,000	–	-0.17%	–
TXG	Exit	10X GENOMICS INC	$0	–	-75,000	–	-0.21%	–
NKTR	Exit	NEKTAR THERAPEUTICS	$0	–	-550,000	–	-0.22%	–
IONS	Exit	IONIS PHARMACEUTICALS INC	$0	–	-50,000	–	-0.23%	–
NVCR	Exit	NOVOCURE LTD	$0	–	-35,000	–	-0.26%	–
ARVN	Exit	ARVINAS INC	$0	–	-50,000	–	-0.26%	–
PHAT	Exit	PHATHOM PHARMACEUTICALS INC	$0	–	-235,210	–	-0.26%	–
NKTX	Exit	NKARTA INC	$0	–	-200,000	–	-0.26%	–
NTLA	Exit	INTELLIA THERAPEUTICS INC	$0	–	-50,000	–	-0.28%	–
EXAS	Exit	EXACT SCIENCES CORP	$0	–	-76,000	–	-0.28%	–
GH	Exit	GUARDANT HEALTH INC	$0	–	-65,000	–	-0.34%	–
ALKS	Exit	ALKERMES PLC	$0	–	-150,000	–	-0.36%	–
PHR	Exit	PHREESIA INC	$0	–	-125,000	–	-0.36%	–
ALLO	Exit	ALLOGENE THERAPEUTICS INC	$0	–	-340,000	–	-0.37%	–
OLK	Exit	OLINK HLDG ABsponsored ads	$0	–	-194,390	–	-0.37%	–
SGMO	Exit	SANGAMO THERAPEUTICS INC	$0	–	-820,000	–	-0.38%	–
ALHC	Exit	ALIGNMENT HEALTHCARE INC	$0	–	-274,950	–	-0.38%	–
NTRA	Exit	NATERA INC	$0	–	-80,000	–	-0.39%	–
TDOC	Exit	TELADOC HEALTH INC	$0	–	-130,000	–	-0.40%	–
WST	Exit	WEST PHARMACEUTICAL SVSC INC	$0	–	-17,000	–	-0.41%	–
GTHX	Exit	G1 THERAPEUTICS INC	$0	–	-370,000	–	-0.41%	–
PGNY	Exit	PROGYNY INC	$0	–	-90,000	–	-0.42%	–
MGTX	Exit	MEIRAGTX HLDGS PLC	$0	–	-555,030	–	-0.42%	–
VRAY	Exit	VIEWRAY INC	$0	–	-1,000,000	–	-0.45%	–
KRTX	Exit	KARUNA THERAPEUTICS INC	$0	–	-20,000	–	-0.46%	–
NVST	Exit	ENVISTA HOLDINGS CORPORATION	$0	–	-143,800	–	-0.50%	–
IOVA	Exit	IOVANCE BIOTHERAPEUTICS INC	$0	–	-510,000	–	-0.50%	–
GKOS	Exit	GLAUKOS CORP	$0	–	-85,000	–	-0.50%	–
AGL	Exit	AGILON HEALTH INC	$0	–	-255,000	–	-0.53%	–
SGEN	Exit	SEAGEN INC	$0	–	-41,000	–	-0.55%	–
OM	Exit	OUTSET MED INC	$0	–	-340,000	–	-0.55%	–
ITCI	Exit	INTRA-CELLULAR THERAPIES INC	$0	–	-125,000	–	-0.60%	–
VEEV	Exit	VEEVA SYS INC	$0	–	-34,500	–	-0.61%	–
SWAV	Exit	SHOCKWAVE MEDICAL INC	$0	–	-20,000	–	-0.61%	–
IMGN	Exit	IMMUNOGEN INC	$0	–	-1,100,000	–	-0.68%	–
	Exit	R1 RCM INC	$0	–	-378,000	–	-0.70%	–
SILK	Exit	SILK RD MED INC	$0	–	-155,000	–	-0.72%	–
ESPR	Exit	ESPERION THERAPEUTICS INC NE	$0	–	-900,000	–	-0.77%	–
PODD	Exit	INSULET CORP	$0	–	-29,000	–	-0.79%	–
HZNP	Exit	HORIZON THERAPEUTICS PUB L	$0	–	-130,000	–	-0.85%	–
XNCR	Exit	XENCOR INC	$0	–	-294,076	–	-0.86%	–
DVAX	Exit	DYNAVAX TECHNOLOGIES CORP	$0	–	-733,519	–	-0.88%	–
IMCR	Exit	IMMUNOCORE HLDGS PLCads	$0	–	-150,000	–	-0.90%	–
RVNC	Exit	REVANCE THERAPEUTICS INC	$0	–	-388,000	–	-0.91%	–
ISEE	Exit	IVERIC BIO INC	$0	–	-365,000	–	-0.91%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-125,000	–	-0.95%	–
RPRX	Exit	ROYALTY PHARMA PLC	$0	–	-215,000	–	-0.95%	–
CYTK	Exit	CYTOKINETICS INC	$0	–	-210,000	–	-0.96%	–
PRVA	Exit	PRIVIA HEALTH GROUP INC	$0	–	-277,000	–	-0.97%	–
BIIB	Exit	BIOGEN INC	$0	–	-32,782	–	-0.97%	–
HCA	Exit	HCA HEALTHCARE INC	$0	–	-43,000	–	-0.98%	–
NBIX	Exit	NEUROCRINE BIOSCIENCES INC	$0	–	-83,000	–	-1.00%	–
ABT	Exit	ABBOTT LABS	$0	–	-117,000	–	-1.21%	–
INSP	Exit	INSPIRE MED SYS INC	$0	–	-63,000	–	-1.29%	–
HRMY	Exit	HARMONY BIOSCIENCES HLDGS IN	$0	–	-237,000	–	-1.29%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-50,000	–	-1.29%	–
COO	Exit	COOPER COS INC	$0	–	-46,902	–	-1.34%	–
MRTX	Exit	MIRATI THERAPEUTICS INC	$0	–	-197,067	–	-1.39%	–
APLS	Exit	APELLIS PHARMACEUTICALS INC	$0	–	-220,000	–	-1.39%	–
BNTX	Exit	BIONTECH SEsponsored ads	$0	–	-99,000	–	-1.43%	–
THC	Exit	TENET HEALTHCARE CORP	$0	–	-344,000	–	-1.60%	–
AXNX	Exit	AXONICS INC	$0	–	-210,000	–	-1.61%	–
ALNY	Exit	ALNYLAM PHARMACEUTICALS INC	$0	–	-75,000	–	-1.63%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-62,000	–	-1.63%	–
PFE	Exit	PFIZER INC	$0	–	-350,000	–	-1.71%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-100,000	–	-1.82%	–
JAZZ	Exit	JAZZ PHARMACEUTICALS PLC	$0	–	-131,500	–	-1.98%	–
MCK	Exit	MCKESSON CORP	$0	–	-50,000	–	-2.04%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-85,000	–	-2.10%	–
BMRN	Exit	BIOMARIN PHARMACEUTICAL INC	$0	–	-237,000	–	-2.15%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-240,000	–	-2.20%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-270,000	–	-2.22%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-225,000	–	-2.23%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-136,000	–	-2.24%	–
ABMD	Exit	ABIOMED INC	$0	–	-85,900	–	-2.27%	–
MRK	Exit	MERCK & CO. INC	$0	–	-215,000	–	-2.28%	–
ANTM	Exit	ELEVANCE HEALTH INC	$0	–	-40,000	–	-2.29%	–
ABBV	Exit	ABBVIE INC	$0	–	-149,626	–	-2.29%	–
REGN	Exit	REGENERON PHARMACEUTICALS	$0	–	-32,000	–	-2.51%	–
CI	Exit	CIGNA CORP NEW	$0	–	-75,000	–	-2.54%	–
HUM	Exit	HUMANA INC	$0	–	-44,000	–	-2.57%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-52,500	–	-2.82%	–
VRTX	Exit	VERTEX PHARMACEUTICALS INC	$0	–	-96,000	–	-3.14%	–
BSX	Exit	BOSTON SCIENTIFIC CORP	$0	–	-695,000	–	-3.14%	–
UNH	Exit	UNITED HEALTH GROUP INC	$0	–	-54,800	–	-3.19%	–
LLY	Exit	LILLY ELI & CO	$0	–	-97,000	–	-3.68%	–

Q3 2022

			Value		Shares		↓ Weighting
LLY	Buy	LILLY ELI & CO	$35,123,000	+20.4%	97,000	+7.8%	3.68%	+11.0%
UNH	Sell	UNITED HEALTH GROUP INC	$30,422,000	+5.8%	54,800	-2.1%	3.19%	-2.5%
BSX	Sell	BOSTON SCIENTIFIC CORP	$29,961,000	+10.9%	695,000	-4.1%	3.14%	+2.2%
VRTX	Buy	VERTEX PHARMACEUTICALS INC	$29,952,000	+11.9%	96,000	+1.1%	3.14%	+3.1%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$26,983,000	+33.9%	52,500	+41.5%	2.82%	+23.4%
HUM	Buy	HUMANA INC	$24,556,000	+22.0%	44,000	+2.3%	2.57%	+12.4%
CI	Sell	CIGNA CORP NEW	$24,230,000	-17.2%	75,000	-32.4%	2.54%	-23.7%
REGN	Buy	REGENERON PHARMACEUTICALS	$23,960,000	+189.5%	32,000	+128.6%	2.51%	+166.9%
ABBV	Sell	ABBVIE INC	$21,905,000	-24.7%	149,626	-21.2%	2.29%	-30.6%
ANTM	Sell	ELEVANCE HEALTH INC	$21,871,000	-20.5%	40,000	-29.8%	2.29%	-26.7%
MRK	Sell	MERCK & CO. INC	$21,758,000	-9.9%	215,000	-18.9%	2.28%	-17.0%
ABMD	Buy	ABIOMED INC	$21,654,000	+19.8%	85,900	+17.7%	2.27%	+10.4%
ABC	Buy	AMERISOURCEBERGEN CORP	$21,382,000	+20.9%	136,000	+8.8%	2.24%	+11.4%
CVS	Sell	CVS HEALTH CORP	$21,308,000	-20.7%	225,000	-22.4%	2.23%	-26.9%
GILD	Buy	GILEAD SCIENCES INC	$21,184,000	+71.4%	270,000	+35.0%	2.22%	+57.9%
MDT	Buy	MEDTRONIC PLC	$20,962,000	+55.7%	240,000	+60.0%	2.20%	+43.5%
BMRN	Buy	BIOMARIN PHARMACEUTICAL INC	$20,531,000	+77.0%	237,000	+69.3%	2.15%	+63.1%
BDX	Buy	BECTON DICKINSON & CO	$20,057,000	+80.8%	85,000	+88.9%	2.10%	+66.7%
MCK	Sell	MCKESSON CORP	$19,469,000	-5.3%	50,000	-20.6%	2.04%	-12.7%
JAZZ	Sell	JAZZ PHARMACEUTICALS PLC	$18,908,000	-24.3%	131,500	-17.8%	1.98%	-30.2%
PFE	Sell	PFIZER INC	$16,293,000	-42.5%	350,000	-35.2%	1.71%	-47.0%
DHR	Buy	DANAHER CORPORATION	$15,604,000	+14.0%	62,000	+14.8%	1.63%	+5.1%
AXNX	Sell	AXONICS INC	$15,359,000	+12.9%	210,000	-12.5%	1.61%	+4.1%
THC	Buy	TENET HEALTHCARE CORP	$15,260,000	+11.2%	344,000	+31.8%	1.60%	+2.5%
BNTX	Buy	BIONTECH SEsponsored ads	$13,626,000	+1.5%	99,000	+10.0%	1.43%	-6.4%
APLS	Buy	APELLIS PHARMACEUTICALS INC	$13,308,000	+40.1%	220,000	+4.8%	1.39%	+29.1%
MRTX	Buy	MIRATI THERAPEUTICS INC	$13,267,000	+4.0%	197,067	+3.7%	1.39%	-4.1%
COO	Buy	COOPER COS INC	$12,823,000	+10.7%	46,902	+26.8%	1.34%	+2.1%
ISRG	Sell	INTUITIVE SURGICAL INC	$12,324,000	-12.3%	50,000	-28.6%	1.29%	-19.2%
HRMY	Sell	HARMONY BIOSCIENCES HLDGS IN	$12,324,000	-2.8%	237,000	-8.8%	1.29%	-10.5%
INSP	Buy	INSPIRE MED SYS INC	$12,282,000	+34.5%	63,000	+26.0%	1.29%	+23.9%
ABT	Sell	ABBOTT LABS	$11,576,000	-37.3%	117,000	-31.2%	1.21%	-42.3%
NBIX	Sell	NEUROCRINE BIOSCIENCES INC	$9,555,000	+3.2%	83,000	-12.6%	1.00%	-4.8%
HCA	Buy	HCA HEALTHCARE INC	$9,351,000	+122.5%	43,000	+72.0%	0.98%	+105.2%
BIIB	New	BIOGEN INC	$9,292,000	–	32,782	–	0.97%	–
PRVA	Sell	PRIVIA HEALTH GROUP INC	$9,274,000	+6.2%	277,000	-7.7%	0.97%	-2.2%
CYTK	Sell	CYTOKINETICS INC	$9,169,000	+1.5%	210,000	-8.7%	0.96%	-6.5%
RPRX	Buy	ROYALTY PHARMA PLC	$9,099,000	+44.3%	215,000	+43.3%	0.95%	+33.1%
EW	Buy	EDWARDS LIFESCIENCES CORP	$9,054,000	+111.6%	125,000	+177.8%	0.95%	+95.1%
ISEE	Buy	IVERIC BIO INC	$8,731,000	+263.0%	365,000	+46.0%	0.91%	+234.8%
RVNC	Sell	REVANCE THERAPEUTICS INC	$8,656,000	+39.2%	388,000	-13.8%	0.91%	+28.1%
IMCR	Buy	IMMUNOCORE HLDGS PLCads	$8,571,000	+64.1%	150,000	+7.1%	0.90%	+51.3%
DVAX	Sell	DYNAVAX TECHNOLOGIES CORP	$8,399,000	-16.6%	733,519	-8.3%	0.88%	-23.2%
XNCR	Sell	XENCOR INC	$8,234,000	+0.3%	294,076	-2.0%	0.86%	-7.6%
HZNP	Sell	HORIZON THERAPEUTICS PUB L	$8,102,000	-68.8%	130,000	-60.0%	0.85%	-71.2%
PODD	New	INSULET CORP	$7,505,000	–	29,000	–	0.79%	–
SILK	Sell	SILK RD MED INC	$6,832,000	+7.3%	155,000	-11.4%	0.72%	-1.2%
	Buy	R1 RCM INC	$6,675,000	-2.0%	378,000	+16.3%	0.70%	-9.7%
IMGN	Sell	IMMUNOGEN INC	$6,534,000	+21.0%	1,100,000	-8.3%	0.68%	+11.4%
SWAV	Sell	SHOCKWAVE MEDICAL INC	$5,863,000	-56.8%	20,000	-71.8%	0.61%	-60.2%
VEEV	Sell	VEEVA SYS INC	$5,794,000	-23.0%	34,500	-9.2%	0.61%	-29.0%
ITCI	Sell	INTRA-CELLULAR THERAPIES INC	$5,709,000	-28.6%	125,000	-10.7%	0.60%	-34.1%
OM	Buy	OUTSET MED INC	$5,284,000	+97.5%	340,000	+88.9%	0.55%	+81.9%
SGEN	Sell	SEAGEN INC	$5,214,000	-34.8%	41,000	-9.3%	0.55%	-39.9%
AGL	Buy	AGILON HEALTH INC	$5,062,000	+40.5%	255,000	+54.5%	0.53%	+29.6%
GKOS	Sell	GLAUKOS CORP	$4,766,000	+16.6%	85,000	-5.5%	0.50%	+7.5%
IOVA	Sell	IOVANCE BIOTHERAPEUTICS INC	$4,763,000	-18.6%	510,000	-3.8%	0.50%	-25.0%
NVST	New	ENVISTA HOLDINGS CORPORATION	$4,747,000	–	143,800	–	0.50%	–
KRTX	New	KARUNA THERAPEUTICS INC	$4,387,000	–	20,000	–	0.46%	–
MGTX	Buy	MEIRAGTX HLDGS PLC	$4,035,000	+6.6%	555,030	+11.0%	0.42%	-1.6%
GTHX	Buy	G1 THERAPEUTICS INC	$3,944,000	+152.5%	370,000	+17.0%	0.41%	+133.3%
WST	New	WEST PHARMACEUTICAL SVSC INC	$3,912,000	–	17,000	–	0.41%	–
TDOC	Buy	TELADOC HEALTH INC	$3,853,000	+36.5%	130,000	+52.9%	0.40%	+25.5%
NTRA	New	NATERA INC	$3,757,000	–	80,000	–	0.39%	–
ALHC	New	ALIGNMENT HEALTHCARE INC	$3,640,000	–	274,950	–	0.38%	–
SGMO	Buy	SANGAMO THERAPEUTICS INC	$3,600,000	+24.2%	820,000	+17.1%	0.38%	+14.6%
OLK	Buy	OLINK HLDG ABsponsored ads	$3,563,000	+67.4%	194,390	+38.8%	0.37%	+54.1%
ALLO	Sell	ALLOGENE THERAPEUTICS INC	$3,502,000	-12.2%	340,000	-2.9%	0.37%	-19.0%
PHR	Buy	PHREESIA INC	$3,415,000	+82.0%	125,000	+66.7%	0.36%	+68.1%
GH	Sell	GUARDANT HEALTH INC	$3,218,000	-16.0%	65,000	-31.6%	0.34%	-22.5%
NVCR	Sell	NOVOCURE LTD	$2,473,000	-40.7%	35,000	-41.7%	0.26%	-45.4%
TXG	New	10X GENOMICS INC	$2,039,000	–	75,000	–	0.21%	–
ONEM	Exit	1LIFE HEALTHCARE INC	$0	–	-375,250	–	-0.33%	–
MYOV	Exit	MYOVANT SCIENCES LTD	$0	–	-310,000	–	-0.44%	–
AERI	Exit	AERIE PHARMACEUTICALS INC	$0	–	-562,350	–	-0.48%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-18,000	–	-0.48%	–

Q2 2022

			Value		Shares		↓ Weighting
CI	New	CIGNA CORP NEW	$29,251,000	–	111,000	–	3.32%	–
LLY	New	LILLY ELI & CO	$29,181,000	–	90,000	–	3.32%	–
ABBV	New	ABBVIE INC	$29,100,000	–	190,000	–	3.31%	–
UNH	New	UNITED HEALTH GROUP INC	$28,763,000	–	56,000	–	3.27%	–
PFE	New	PFIZER INC	$28,312,000	–	540,000	–	3.22%	–
ANTM	New	ELEVANCE HEALTH INC	$27,507,000	–	57,000	–	3.12%	–
BSX	New	BOSTON SCIENTIFIC CORP	$27,021,000	–	725,000	–	3.07%	–
CVS	New	CVS HEALTH CORP	$26,871,000	–	290,000	–	3.05%	–
VRTX	New	VERTEX PHARMACEUTICALS INC	$26,770,000	–	95,000	–	3.04%	–
HZNP	New	HORIZON THERAPEUTICS PUB L	$25,946,000	–	325,299	–	2.95%	–
JAZZ	New	JAZZ PHARMACEUTICALS PLC	$24,962,000	–	160,000	–	2.84%	–
MRK	New	MERCK & CO. INC	$24,160,000	–	265,000	–	2.74%	–
MCK	New	MCKESSON CORP	$20,551,000	–	63,000	–	2.34%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$20,156,000	–	37,100	–	2.29%	–
HUM	New	HUMANA INC	$20,127,000	–	43,000	–	2.29%	–
ABT	New	ABBOTT LABS	$18,471,000	–	170,000	–	2.10%	–
ABMD	New	ABIOMED INC	$18,068,000	–	73,000	–	2.05%	–
JNJ	New	JOHNSON & JOHNSON	$17,751,000	–	100,000	–	2.02%	–
ABC	New	AMERISOURCEBERGEN CORP	$17,685,000	–	125,000	–	2.01%	–
ISRG	New	INTUITIVE SURGICAL INC	$14,050,000	–	70,000	–	1.60%	–
THC	New	TENET HEALTHCARE CORP	$13,718,000	–	261,000	–	1.56%	–
DHR	New	DANAHER CORPORATION	$13,690,000	–	54,000	–	1.56%	–
AXNX	New	AXONICS INC	$13,601,000	–	240,000	–	1.54%	–
SWAV	New	SHOCKWAVE MEDICAL INC	$13,569,000	–	70,978	–	1.54%	–
MDT	New	MEDTRONIC PLC	$13,463,000	–	150,000	–	1.53%	–
BNTX	New	BIONTECH SEsponsored ads	$13,419,000	–	90,000	–	1.52%	–
MRTX	New	MIRATI THERAPEUTICS INC	$12,755,000	–	190,000	–	1.45%	–
HRMY	New	HARMONY BIOSCIENCES HLDGS IN	$12,680,000	–	260,000	–	1.44%	–
GILD	New	GILEAD SCIENCES INC	$12,362,000	–	200,000	–	1.40%	–
BMRN	New	BIOMARIN PHARMACEUTICAL INC	$11,602,000	–	140,000	–	1.32%	–
COO	New	COOPER COS INC	$11,585,000	–	37,000	–	1.32%	–
BDX	New	BECTON DICKINSON & CO	$11,094,000	–	45,000	–	1.26%	–
ALNY	New	ALNYLAM PHARMACEUTICALS INC	$10,939,000	–	75,000	–	1.24%	–
DVAX	New	DYNAVAX TECHNOLOGIES CORP	$10,072,000	–	800,000	–	1.14%	–
APLS	New	APELLIS PHARMACEUTICALS INC	$9,496,000	–	210,000	–	1.08%	–
NBIX	New	NEUROCRINE BIOSCIENCES INC	$9,261,000	–	95,000	–	1.05%	–
INSP	New	INSPIRE MED SYS INC	$9,134,000	–	50,000	–	1.04%	–
CYTK	New	CYTOKINETICS INC	$9,037,000	–	230,000	–	1.03%	–
PRVA	New	PRIVIA HEALTH GROUP INC	$8,736,000	–	300,000	–	0.99%	–
REGN	New	REGENERON PHARMACEUTICALS	$8,276,000	–	14,000	–	0.94%	–
XNCR	New	XENCOR INC	$8,211,000	–	300,000	–	0.93%	–
SGEN	New	SEAGEN INC	$7,999,000	–	45,208	–	0.91%	–
ITCI	New	INTRA-CELLULAR THERAPIES INC	$7,991,000	–	140,000	–	0.91%	–
VEEV	New	VEEVA SYS INC	$7,526,000	–	38,000	–	0.86%	–
	New	R1 RCM INC	$6,812,000	–	325,000	–	0.77%	–
SILK	New	SILK RD MED INC	$6,368,000	–	175,000	–	0.72%	–
RPRX	New	ROYALTY PHARMA PLC	$6,306,000	–	150,000	–	0.72%	–
RVNC	New	REVANCE THERAPEUTICS INC	$6,219,000	–	450,000	–	0.71%	–
IOVA	New	IOVANCE BIOTHERAPEUTICS INC	$5,851,000	–	530,000	–	0.66%	–
ESPR	New	ESPERION THERAPEUTICS INC NE	$5,724,000	–	900,000	–	0.65%	–
IMGN	New	IMMUNOGEN INC	$5,400,000	–	1,200,000	–	0.61%	–
IMCR	New	IMMUNOCORE HLDGS PLCads	$5,223,000	–	140,000	–	0.59%	–
ALKS	New	ALKERMES PLC	$4,469,000	–	150,000	–	0.51%	–
EW	New	EDWARDS LIFESCIENCES CORP	$4,279,000	–	45,000	–	0.49%	–
ALGN	New	ALIGN TECHNOLOGY INC	$4,260,000	–	18,000	–	0.48%	–
AERI	New	AERIE PHARMACEUTICALS INC	$4,218,000	–	562,350	–	0.48%	–
HCA	New	HCA HEALTHCARE INC	$4,202,000	–	25,000	–	0.48%	–
NVCR	New	NOVOCURE LTD	$4,170,000	–	60,000	–	0.47%	–
GKOS	New	GLAUKOS CORP	$4,087,000	–	89,991	–	0.46%	–
ALLO	New	ALLOGENE THERAPEUTICS INC	$3,990,000	–	350,000	–	0.45%	–
MYOV	New	MYOVANT SCIENCES LTD	$3,853,000	–	310,000	–	0.44%	–
GH	New	GUARDANT HEALTH INC	$3,832,000	–	95,000	–	0.44%	–
MGTX	New	MEIRAGTX HLDGS PLC	$3,785,000	–	500,000	–	0.43%	–
AGL	New	AGILON HEALTH INC	$3,602,000	–	165,000	–	0.41%	–
EXAS	New	EXACT SCIENCES CORP	$2,994,000	–	76,000	–	0.34%	–
ONEM	New	1LIFE HEALTHCARE INC	$2,942,000	–	375,250	–	0.33%	–
SGMO	New	SANGAMO THERAPEUTICS INC	$2,898,000	–	700,000	–	0.33%	–
TDOC	New	TELADOC HEALTH INC	$2,823,000	–	85,000	–	0.32%	–
OM	New	OUTSET MED INC	$2,675,000	–	180,000	–	0.30%	–
VRAY	New	VIEWRAY INC	$2,650,000	–	1,000,000	–	0.30%	–
PGNY	New	PROGYNY INC	$2,615,000	–	90,000	–	0.30%	–
HCAT	New	HEALTH CATALYST INC	$2,608,000	–	180,000	–	0.30%	–
NTLA	New	INTELLIA THERAPEUTICS INC	$2,588,000	–	50,000	–	0.29%	–
NKTX	New	NKARTA INC	$2,464,000	–	200,000	–	0.28%	–
ISEE	New	IVERIC BIO INC	$2,405,000	–	250,000	–	0.27%	–
OLK	New	OLINK HLDG ABsponsored ads	$2,128,000	–	140,000	–	0.24%	–
ARVN	New	ARVINAS INC	$2,105,000	–	50,000	–	0.24%	–
NKTR	New	NEKTAR THERAPEUTICS	$2,090,000	–	550,000	–	0.24%	–
PHAT	New	PHATHOM PHARMACEUTICALS INC	$1,985,000	–	235,210	–	0.23%	–
PHR	New	PHREESIA INC	$1,876,000	–	75,000	–	0.21%	–
IONS	New	IONIS PHARMACEUTICALS INC	$1,851,000	–	50,000	–	0.21%	–
GTHX	New	G1 THERAPEUTICS INC	$1,562,000	–	316,137	–	0.18%	–
STXS	New	STEREOTAXIS INC	$1,467,000	–	797,330	–	0.17%	–
RIGL	New	RIGEL PHARMACEUTICALS INC	$1,384,000	–	1,225,081	–	0.16%	–
	New	RAPID MICRO BIOSYSTEMS INC	$1,290,000	–	300,000	–	0.15%	–
EPIX	New	ESSA PHARMA INC	$1,181,000	–	375,000	–	0.13%	–

Q4 2021

			Value		Shares		↓ Weighting
XLRN	Exit	ACCELERON PHARMA INC	$0	–	-4,392	–	-0.05%	–
INNV	Exit	INNOVAGE HLDG CORP	$0	–	-150,000	–	-0.07%	–
EPZM	Exit	EPIZYME INC	$0	–	-265,000	–	-0.10%	–
SBTX	Exit	SILVERBACK THERAPEUTICS INC	$0	–	-150,000	–	-0.10%	–
PIRS	Exit	PIERIS PHARMACEUTICALS INC	$0	–	-300,000	–	-0.11%	–
DCPH	Exit	DECIPHERA PHARMACEUTICALS INC	$0	–	-60,000	–	-0.14%	–
FGEN	Exit	FIBROGEN INC	$0	–	-200,000	–	-0.14%	–
IONS	Exit	IONIS PHARMACEUTICALS INC	$0	–	-75,000	–	-0.18%	–
IMCR	Exit	IMMUNOCORE HLDGS PLCads	$0	–	-90,000	–	-0.23%	–
OLK	Exit	OLINK HLDG ABsponsored ads	$0	–	-140,000	–	-0.24%	–
ARNA	Exit	ARENA PHARMACEUTICALS INC	$0	–	-60,000	–	-0.25%	–
STXS	Exit	STEREOTAXIS INC	$0	–	-800,000	–	-0.30%	–
GTHX	Exit	G1 THERAPEUTICS INC	$0	–	-325,000	–	-0.31%	–
OSH	Exit	OAK STR HEALTH INC	$0	–	-105,000	–	-0.31%	–
PGNY	Exit	PROGYNY INC	$0	–	-80,000	–	-0.31%	–
ANNX	Exit	ANNEXON INC	$0	–	-250,000	–	-0.33%	–
EPIX	Exit	ESSA PHARMA INC	$0	–	-600,000	–	-0.34%	–
SAGE	Exit	SAGE THERAPEUTICS INC	$0	–	-115,000	–	-0.36%	–
SAVA	Exit	CASSAVA SCIENCES INC	$0	–	-85,000	–	-0.37%	–
RDUS	Exit	RADIUS HEALTH INC	$0	–	-430,000	–	-0.38%	–
RIGL	Exit	RIGEL PHARMACEUTICALS INC	$0	–	-1,520,000	–	-0.39%	–
VRAY	Exit	VIEWRAY INC	$0	–	-775,000	–	-0.39%	–
MYOV	Exit	MYOVANT SCIENCES LTD	$0	–	-250,000	–	-0.39%	–
PRVA	Exit	PRIVIA HEALTH GROUP INC	$0	–	-240,000	–	-0.40%	–
ISEE	Exit	IVERIC BIO INC	$0	–	-350,000	–	-0.40%	–
MGTX	Exit	MEIRAGTX HLDGS PLC	$0	–	-450,000	–	-0.42%	–
PHAT	Exit	PHATHOM PHARMACEUTICALS INC	$0	–	-186,210	–	-0.42%	–
ALKS	Exit	ALKERMES PLC	$0	–	-210,000	–	-0.46%	–
SGMO	Exit	SANGAMO THERAPEUTICS INC	$0	–	-765,000	–	-0.48%	–
IMGN	Exit	IMMUNOGEN INC	$0	–	-1,218,850	–	-0.48%	–
NVCR	Exit	NOVOCURE LTD	$0	–	-60,000	–	-0.49%	–
SWAV	Exit	SHOCKWAVE MEDICAL INC	$0	–	-34,000	–	-0.49%	–
GKOS	Exit	GLAUKOS CORP	$0	–	-150,000	–	-0.51%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-125,000	–	-0.52%	–
ESPR	Exit	ESPERION THERAPEUTICS INC NE	$0	–	-622,267	–	-0.53%	–
PHR	Exit	PHREESIA INC	$0	–	-123,465	–	-0.54%	–
HRMY	Exit	HARMONY BIOSCIENCES HLDGS IN	$0	–	-204,876	–	-0.55%	–
IOVA	Exit	IOVANCE BIOTHERAPEUTICS INC	$0	–	-320,000	–	-0.55%	–
SILK	Exit	SILK ROAD MEDICAL INC	$0	–	-146,000	–	-0.56%	–
ONEM	Exit	1LIFE HEALTHCARE INC	$0	–	-420,000	–	-0.60%	–
AERI	Exit	AERIE PHARMACEUTICALS INC	$0	–	-750,000	–	-0.60%	–
RVNC	Exit	REVANCE THERAPEUTICS INC	$0	–	-320,000	–	-0.63%	–
NBIX	Exit	NEUROCRINE BIOSCIENCES INC	$0	–	-95,000	–	-0.64%	–
MGNX	Exit	MACROGENICS INC	$0	–	-545,160	–	-0.80%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-105,000	–	-0.83%	–
THC	Exit	TENET HEALTHCARE CORP	$0	–	-180,000	–	-0.84%	–
HCAT	Exit	HEALTH CATALYST INC	$0	–	-240,000	–	-0.84%	–
RCM	Exit	R1 RCM INC	$0	–	-550,000	–	-0.85%	–
ACCD	Exit	ACCOLADE INC	$0	–	-325,000	–	-0.96%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-58,000	–	-1.00%	–
DVAX	Exit	DYNAVAX TECHNOLOGIES CORP	$0	–	-750,000	–	-1.01%	–
ITCI	Exit	INTRA CELLULAR THERAPIES INC	$0	–	-429,728	–	-1.12%	–
XNCR	Exit	XENCOR INC	$0	–	-507,002	–	-1.16%	–
NKTR	Exit	NEKTAR THERAPEUTICS	$0	–	-950,000	–	-1.20%	–
EXAS	Exit	EXACT SCIENCES CORP	$0	–	-180,000	–	-1.21%	–
VEEV	Exit	VEEVA SYS INC	$0	–	-60,000	–	-1.21%	–
ZBH	Exit	ZIMMER BIOMET HOLDINGS INC	$0	–	-120,000	–	-1.23%	–
HCA	Exit	HCA HEALTHCARE INC	$0	–	-75,000	–	-1.28%	–
APLS	Exit	APELLIS PHARMACEUTICALS INC	$0	–	-561,269	–	-1.30%	–
BMRN	Exit	BIOMARIN PHARMACEUTICAL INC	$0	–	-240,000	–	-1.30%	–
COO	Exit	COOPER COS INC	$0	–	-45,000	–	-1.30%	–
CNC	Exit	CENTENE CORP DEL	$0	–	-300,000	–	-1.31%	–
BHVN	Exit	BIOHAVEN PHARMACTL HLDG CO L	$0	–	-135,000	–	-1.32%	–
ALNY	Exit	ALNYLAM PHARMACEUTICALS INC	$0	–	-100,000	–	-1.32%	–
AXNX	Exit	AXONICS MODULATION TECHNOLOG	$0	–	-290,000	–	-1.32%	–
TDOC	Exit	TELADOC HEALTH INC	$0	–	-150,000	–	-1.34%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-20,000	–	-1.40%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-300,000	–	-1.47%	–
HUM	Exit	HUMANA INC	$0	–	-57,000	–	-1.56%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-188,000	–	-1.58%	–
MRK	Exit	MERCK & CO. INC	$0	–	-300,000	–	-1.58%	–
ABMD	Exit	ABIOMED INC	$0	–	-70,000	–	-1.60%	–
SGEN	Exit	SEAGEN INC	$0	–	-135,000	–	-1.61%	–
ABT	Exit	ABBOTT LABS	$0	–	-206,000	–	-1.71%	–
BSX	Exit	BOSTON SCIENTIFIC CORP	$0	–	-570,000	–	-1.74%	–
CI	Exit	CIGNA CORP NEW	$0	–	-127,000	–	-1.78%	–
GH	Exit	GUARDANT HEALTH INC	$0	–	-205,000	–	-1.80%	–
MRTX	Exit	MIRATI THERAPEUTICS INC	$0	–	-150,000	–	-1.86%	–
MCK	Exit	MCKESSON CORP	$0	–	-148,000	–	-2.07%	–
VRTX	Exit	VERTEX PHARMACEUTICALS INC	$0	–	-165,000	–	-2.10%	–
LLY	Exit	LILLY ELI & CO	$0	–	-145,000	–	-2.35%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-400,000	–	-2.38%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-273,000	–	-2.40%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-60,000	–	-2.41%	–
JAZZ	Exit	JAZZ PHARMACEUTICALS PLC	$0	–	-280,000	–	-2.56%	–
ABBV	Exit	ABBVIE INC	$0	–	-355,000	–	-2.69%	–
BIIB	Exit	BIOGEN INC	$0	–	-150,000	–	-2.98%	–
PFE	Exit	PFIZER INC	$0	–	-1,000,000	–	-3.02%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-270,000	–	-3.06%	–
ANTM	Exit	ANTHEM INC	$0	–	-120,000	–	-3.14%	–
UNH	Exit	UNITED HEALTH GROUP INC	$0	–	-125,000	–	-3.43%	–
HZNP	Exit	HORIZON THERAPEUTICS PUB L	$0	–	-470,000	–	-3.61%	–

Q3 2021

			Value		Shares		↓ Weighting
HZNP	Sell	HORIZON THERAPEUTICS PUB L	$51,484,000	+4.7%	470,000	-10.5%	3.61%	+8.3%
ANTM	Buy	ANTHEM INC	$44,736,000	+23.3%	120,000	+26.3%	3.14%	+27.5%
JNJ	Buy	JOHNSON & JOHNSON	$43,605,000	+252.9%	270,000	+260.0%	3.06%	+264.8%
PFE	Buy	PFIZER INC	$43,010,000	+119.7%	1,000,000	+100.0%	3.02%	+127.2%
BIIB	Buy	BIOGEN INC	$42,449,000	+36.2%	150,000	+66.7%	2.98%	+40.9%
ABBV	Buy	ABBVIE INC	$38,294,000	+6.2%	355,000	+10.9%	2.69%	+9.8%
JAZZ	Buy	JAZZ PHARMACEUTICALS PLC	$36,459,000	-6.7%	280,000	+27.3%	2.56%	-3.5%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$34,280,000	+35.9%	60,000	+20.0%	2.41%	+40.5%
CVS	Buy	CVS HEALTH CORP	$33,944,000	+7.1%	400,000	+5.3%	2.38%	+10.7%
LLY	Buy	LILLY ELI & CO	$33,502,000	+22.9%	145,000	+22.1%	2.35%	+27.0%
VRTX	Sell	VERTEX PHARMACEUTICALS INC	$29,929,000	-31.2%	165,000	-23.6%	2.10%	-28.9%
MCK	Buy	MCKESSON CORP	$29,508,000	+97.8%	148,000	+89.7%	2.07%	+104.4%
MRTX	Sell	MIRATI THERAPEUTICS INC	$26,537,000	-0.4%	150,000	-9.1%	1.86%	+3.0%
GH	Buy	GUARDANT HEALTH INC	$25,627,000	+17.9%	205,000	+17.1%	1.80%	+22.0%
CI	Sell	CIGNA CORP NEW	$25,420,000	-17.8%	127,000	-2.7%	1.78%	-15.0%
BSX	Buy	BOSTON SCIENTIFIC CORP	$24,732,000	+11.2%	570,000	+9.6%	1.74%	+15.0%
ABT	Sell	ABBOTT LABS	$24,335,000	-16.0%	206,000	-17.6%	1.71%	-13.2%
SGEN	Sell	SEAGEN INC	$22,923,000	-8.1%	135,000	-14.5%	1.61%	-4.9%
ABMD	Buy	ABIOMED INC	$22,786,000	+12.3%	70,000	+7.7%	1.60%	+16.1%
ABC	Buy	AMERISOURCEBERGEN CORP	$22,457,000	+13.4%	188,000	+8.7%	1.58%	+17.3%
HUM	Buy	HUMANA INC	$22,182,000	-8.9%	57,000	+3.6%	1.56%	-5.8%
ISRG	Sell	INTUITIVE SURGICAL INC	$19,883,000	-3.9%	20,000	-11.1%	1.40%	-0.6%
TDOC	Sell	TELADOC HEALTH INC	$19,022,000	-45.5%	150,000	-28.6%	1.34%	-43.7%
AXNX	Sell	AXONICS MODULATION TECHNOLOG	$18,876,000	-21.7%	290,000	-23.7%	1.32%	-19.0%
ALNY	Sell	ALNYLAM PHARMACEUTICALS INC	$18,881,000	-17.5%	100,000	-25.9%	1.32%	-14.7%
BHVN	Sell	BIOHAVEN PHARMACTL HLDG CO L	$18,753,000	-3.6%	135,000	-32.6%	1.32%	-0.4%
CNC	Buy	CENTENE CORP DEL	$18,693,000	-1.4%	300,000	+15.4%	1.31%	+1.9%
BMRN	Buy	BIOMARIN PHARMACEUTICAL INC	$18,550,000	+39.0%	240,000	+50.0%	1.30%	+43.7%
APLS	Buy	APELLIS PHARMACEUTICALS INC	$18,499,000	-4.0%	561,269	+84.0%	1.30%	-0.8%
ZBH	Sell	ZIMMER BIOMET HOLDINGS INC	$17,563,000	-22.0%	120,000	-14.3%	1.23%	-19.3%
VEEV	Sell	VEEVA SYS INC	$17,290,000	-25.9%	60,000	-20.0%	1.21%	-23.3%
EXAS	Buy	EXACT SCIENCES CORP	$17,181,000	-10.8%	180,000	+16.1%	1.21%	-7.8%
XNCR	Buy	XENCOR INC	$16,559,000	+41.2%	507,002	+49.1%	1.16%	+46.0%
BDX	Buy	BECTON DICKINSON & CO	$14,258,000	+22.1%	58,000	+20.8%	1.00%	+26.4%
ACCD	Buy	ACCOLADE INC	$13,705,000	-15.9%	325,000	+8.3%	0.96%	-13.0%
THC	Buy	TENET HEALTHCARE CORP	$11,959,000	+110.0%	180,000	+111.8%	0.84%	+117.4%
EW	Sell	EDWARDS LIFESCIENCES CORP	$11,887,000	+4.3%	105,000	-4.5%	0.83%	+7.9%
NBIX	Sell	NEUROCRINE BIOSCIENCES INC	$9,111,000	-10.8%	95,000	-9.5%	0.64%	-7.9%
RVNC	Buy	REVANCE THERAPEUTICS INC	$8,915,000	+11.4%	320,000	+18.5%	0.63%	+15.3%
ONEM	Buy	1LIFE HEALTHCARE INC	$8,505,000	-22.0%	420,000	+27.3%	0.60%	-19.4%
IOVA	Buy	IOVANCE BIOTHERAPEUTICS INC	$7,891,000	+1.1%	320,000	+6.7%	0.55%	+4.5%
HRMY	Buy	HARMONY BIOSCIENCES HLDGS IN	$7,853,000	+178.2%	204,876	+104.9%	0.55%	+187.0%
PHR	Sell	PHREESIA INC	$7,618,000	-52.2%	123,465	-52.5%	0.54%	-50.6%
ESPR	Buy	ESPERION THERAPEUTICS INC NE	$7,498,000	-38.0%	622,267	+8.7%	0.53%	-36.0%
GKOS	Buy	GLAUKOS CORP	$7,226,000	+143.4%	150,000	+328.6%	0.51%	+151.0%
SWAV	Buy	SHOCKWAVE MEDICAL INC	$7,000,000	+8.5%	34,000	+0.0%	0.49%	+12.1%
NVCR	Sell	NOVOCURE LTD	$6,970,000	-73.8%	60,000	-50.0%	0.49%	-72.9%
ALKS	Sell	ALKERMES PLC	$6,476,000	-14.6%	210,000	-32.1%	0.46%	-11.7%
ISEE	New	IVERIC BIO INC	$5,684,000	–	350,000	–	0.40%	–
PRVA	New	PRIVIA HEALTH GROUP INC	$5,654,000	–	240,000	–	0.40%	–
SAVA	Sell	CASSAVA SCIENCES INC	$5,277,000	-46.3%	85,000	-26.1%	0.37%	-44.5%
SAGE	Buy	SAGE THERAPEUTICS INC	$5,096,000	+19.6%	115,000	+53.3%	0.36%	+23.9%
EPIX	Buy	ESSA PHARMA INC	$4,800,000	-35.4%	600,000	+130.8%	0.34%	-33.1%
OSH	Buy	OAK STR HEALTH INC	$4,466,000	-19.7%	105,000	+10.5%	0.31%	-17.2%
STXS	Buy	STEREOTAXIS INC	$4,304,000	-34.8%	800,000	+16.9%	0.30%	-32.6%
OLK	New	OLINK HLDG ABsponsored ads	$3,395,000	–	140,000	–	0.24%	–
SBTX	Buy	SILVERBACK THERAPEUTICS INC	$1,497,000	-51.5%	150,000	+50.0%	0.10%	-50.0%
XLRN	Sell	ACCELERON PHARMA INC	$756,000	-97.0%	4,392	-97.8%	0.05%	-96.9%
LIVN	Exit	LIVANOVA PLC	$0	–	-10,000	–	-0.06%	–
ZLAB	Exit	ZAI LAB LTDadr	$0	–	-35,000	–	-0.42%	–
BAX	Exit	BAXTER INTL INC	$0	–	-110,000	–	-0.60%	–
REGN	Exit	REGENERON PHARMACEUTICALS	$0	–	-25,000	–	-0.95%	–
INOV	Exit	INOVALON HLDGS INC	$0	–	-600,000	–	-1.39%	–

Q2 2021

			Value		Shares		↓ Weighting
UNH	New	UNITED HEALTH GROUP INC	$50,055,000	–	125,000	–	3.40%	–
HZNP	New	HORIZON THERAPEUTICS PUB L	$49,161,000	–	525,000	–	3.34%	–
VRTX	New	VERTEX PHARMACEUTICALS INC	$43,531,000	–	215,897	–	2.96%	–
JAZZ	New	JAZZ PHARMACEUTICALS PLC	$39,081,000	–	220,000	–	2.65%	–
ANTM	New	ANTHEM INC	$36,271,000	–	95,000	–	2.46%	–
ABBV	New	ABBVIE INC	$36,045,000	–	320,000	–	2.45%	–
TDOC	New	TELADOC HEALTH INC	$34,921,000	–	210,000	–	2.37%	–
MDT	New	MEDTRONIC PLC	$33,887,000	–	273,000	–	2.30%	–
CVS	New	CVS HEALTH CORP	$31,707,000	–	380,000	–	2.15%	–
BIIB	New	BIOGEN INC	$31,164,000	–	90,000	–	2.12%	–
CI	New	CIGNA CORP NEW	$30,938,000	–	130,500	–	2.10%	–
ABT	New	ABBOTT LABS	$28,983,000	–	250,000	–	1.97%	–
LLY	New	LILLY ELI & CO	$27,267,000	–	118,800	–	1.85%	–
MRTX	New	MIRATI THERAPEUTICS INC	$26,652,000	–	165,000	–	1.81%	–
NVCR	New	NOVOCURE LTD	$26,618,000	–	120,000	–	1.81%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$25,224,000	–	50,000	–	1.71%	–
XLRN	New	ACCELERON PHARMA INC	$25,098,000	–	200,000	–	1.70%	–
SGEN	New	SEAGEN INC	$24,933,000	–	157,925	–	1.69%	–
HUM	New	HUMANA INC	$24,350,000	–	55,000	–	1.65%	–
AXNX	New	AXONICS MODULATION TECHNOLOG	$24,096,000	–	380,000	–	1.64%	–
MRK	New	MERCK & CO. INC	$23,331,000	–	300,000	–	1.58%	–
VEEV	New	VEEVA SYS INC	$23,321,000	–	75,000	–	1.58%	–
ALNY	New	ALNYLAM PHARMACEUTICALS INC	$22,885,000	–	135,000	–	1.55%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$22,515,000	–	140,000	–	1.53%	–
BSX	New	BOSTON SCIENTIFIC CORP	$22,235,000	–	520,000	–	1.51%	–
GH	New	GUARDANT HEALTH INC	$21,733,000	–	175,000	–	1.48%	–
ISRG	New	INTUITIVE SURGICAL INC	$20,692,000	–	22,500	–	1.40%	–
GILD	New	GILEAD SCIENCES INC	$20,658,000	–	300,000	–	1.40%	–
INOV	New	INOVALON HLDGS INC	$20,448,000	–	600,000	–	1.39%	–
ABMD	New	ABIOMED INC	$20,287,000	–	65,000	–	1.38%	–
ABC	New	AMERISOURCEBERGEN CORP	$19,807,000	–	173,000	–	1.34%	–
PFE	New	PFIZER INC	$19,580,000	–	500,000	–	1.33%	–
BHVN	New	BIOHAVEN PHARMACTL HLDG CO L	$19,457,000	–	200,419	–	1.32%	–
EXAS	New	EXACT SCIENCES CORP	$19,268,000	–	155,000	–	1.31%	–
APLS	New	APELLIS PHARMACEUTICALS INC	$19,276,000	–	305,000	–	1.31%	–
CNC	New	CENTENE CORP DEL	$18,962,000	–	260,000	–	1.29%	–
COO	New	COOPER COS INC	$17,832,000	–	45,000	–	1.21%	–
ITCI	New	INTRA CELLULAR THERAPIES INC	$17,541,000	–	429,728	–	1.19%	–
NKTR	New	NEKTAR THERAPEUTICS	$16,302,000	–	950,000	–	1.11%	–
ACCD	New	ACCOLADE INC	$16,293,000	–	300,000	–	1.11%	–
PHR	New	PHREESIA INC	$15,938,000	–	260,000	–	1.08%	–
HCA	New	HCA HEALTHCARE INC	$15,506,000	–	75,000	–	1.05%	–
MCK	New	MCKESSON CORP	$14,917,000	–	78,000	–	1.01%	–
MGNX	New	MACROGENICS INC	$14,643,000	–	545,160	–	0.99%	–
REGN	New	REGENERON PHARMACEUTICALS	$13,964,000	–	25,000	–	0.95%	–
BMRN	New	BIOMARIN PHARMACEUTICAL INC	$13,350,000	–	160,000	–	0.91%	–
HCAT	New	HEALTH CATALYST INC	$13,322,000	–	240,000	–	0.90%	–
JNJ	New	JOHNSON & JOHNSON	$12,356,000	–	75,000	–	0.84%	–
RCM	New	R1 RCM INC	$12,232,000	–	550,000	–	0.83%	–
ESPR	New	ESPERION THERAPEUTICS INC NE	$12,103,000	–	572,267	–	0.82%	–
AERI	New	AERIE PHARMACEUTICALS INC	$12,008,000	–	750,000	–	0.82%	–
XNCR	New	XENCOR INC	$11,727,000	–	340,000	–	0.80%	–
BDX	New	BECTON DICKINSON & CO	$11,673,000	–	48,000	–	0.79%	–
EW	New	EDWARDS LIFESCIENCES CORP	$11,393,000	–	110,000	–	0.77%	–
ONEM	New	1LIFE HEALTHCARE INC	$10,910,000	–	330,000	–	0.74%	–
NBIX	New	NEUROCRINE BIOSCIENCES INC	$10,219,000	–	105,000	–	0.69%	–
SAVA	New	CASSAVA SCIENCES INC	$9,826,000	–	115,000	–	0.67%	–
SGMO	New	SANGAMO THERAPEUTICS INC	$9,157,000	–	765,000	–	0.62%	–
BAX	New	BAXTER INTL INC	$8,855,000	–	110,000	–	0.60%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$8,353,000	–	125,000	–	0.57%	–
IMGN	New	IMMUNOGEN INC	$8,032,000	–	1,218,850	–	0.54%	–
RVNC	New	REVANCE THERAPEUTICS INC	$8,003,000	–	270,000	–	0.54%	–
RDUS	New	RADIUS HEALTH INC	$7,843,000	–	430,000	–	0.53%	–
IOVA	New	IOVANCE BIOTHERAPEUTICS INC	$7,806,000	–	300,000	–	0.53%	–
ALKS	New	ALKERMES PLC	$7,585,000	–	309,354	–	0.52%	–
EPIX	New	ESSA PHARMA INC	$7,428,000	–	260,000	–	0.50%	–
DVAX	New	DYNAVAX TECHNOLOGIES CORP	$7,388,000	–	750,000	–	0.50%	–
GTHX	New	G1 THERAPEUTICS INC	$7,131,000	–	325,000	–	0.48%	–
SILK	New	SILK ROAD MEDICAL INC	$6,988,000	–	146,000	–	0.47%	–
MGTX	New	MEIRAGTX HLDGS PLC	$6,975,000	–	450,000	–	0.47%	–
RIGL	New	RIGEL PHARMACEUTICALS INC	$6,597,000	–	1,520,000	–	0.45%	–
STXS	New	STEREOTAXIS INC	$6,598,000	–	684,402	–	0.45%	–
SWAV	New	SHOCKWAVE MEDICAL INC	$6,449,000	–	33,990	–	0.44%	–
PHAT	New	PHATHOM PHARMACEUTICALS INC	$6,303,000	–	186,210	–	0.43%	–
ZLAB	New	ZAI LAB LTDadr	$6,195,000	–	35,000	–	0.42%	–
MYOV	New	MYOVANT SCIENCES LTD	$5,693,000	–	250,000	–	0.39%	–
THC	New	TENET HEALTHCARE CORP	$5,694,000	–	85,000	–	0.39%	–
ANNX	New	ANNEXON INC	$5,628,000	–	250,000	–	0.38%	–
OSH	New	OAK STR HEALTH INC	$5,564,000	–	95,000	–	0.38%	–
FGEN	New	FIBROGEN INC	$5,326,000	–	200,000	–	0.36%	–
VRAY	New	VIEWRAY INCadr	$5,115,000	–	775,000	–	0.35%	–
PGNY	New	PROGYNY INC	$4,720,000	–	80,000	–	0.32%	–
SAGE	New	SAGE THERAPEUTICS INC	$4,261,000	–	75,000	–	0.29%	–
ARNA	New	ARENA PHARMACEUTICALS INC	$4,092,000	–	60,000	–	0.28%	–
IMCR	New	IMMUNOCORE HLDGS PLCads	$3,515,000	–	90,000	–	0.24%	–
INNV	New	INNOVAGE HLDG CORP	$3,197,000	–	150,000	–	0.22%	–
SBTX	New	SILVERBACK THERAPEUTICS INC	$3,089,000	–	100,000	–	0.21%	–
IONS	New	IONIS PHARMACEUTICALS INC	$2,992,000	–	75,000	–	0.20%	–
GKOS	New	GLAUKOS CORP	$2,969,000	–	35,000	–	0.20%	–
HRMY	New	HARMONY BIOSCIENCES HLDGS IN	$2,823,000	–	100,000	–	0.19%	–
DCPH	New	DECIPHERA PHARMACEUTICALS INC	$2,197,000	–	60,000	–	0.15%	–
EPZM	New	EPIZYME INC	$2,202,000	–	265,000	–	0.15%	–
PIRS	New	PIERIS PHARMACEUTICALS INC	$1,149,000	–	300,000	–	0.08%	–
LIVN	New	LIVANOVA PLC	$841,000	–	10,000	–	0.06%	–

Q4 2020

			Value		Shares		↓ Weighting
F	Exit	FORD MTR CO DEL	$0	–	-29,164	–	-0.02%	–
CVX	Exit	CHEVRON CORP	$0	–	-2,974	–	-0.02%	–
QCOM	Exit	QUALCOMM INC	$0	–	-2,381	–	-0.02%	–
PIRS	Exit	PIERIS PHARMACEUTICALS INC	$0	–	-300,000	–	-0.06%	–
ABEO	Exit	ABEONA THERAPEUTICS INC	$0	–	-925,000	–	-0.08%	–
AMRN	Exit	AMARIN CORP PLCspons adr new	$0	–	-300,000	–	-0.11%	–
QURE	Exit	UNIQURE NV	$0	–	-40,466	–	-0.13%	–
GTHX	Exit	G1 THERAPEUTICS INC REG	$0	–	-190,000	–	-0.20%	–
CLLS	Exit	CELLECTIS S Aspons ads	$0	–	-144,604	–	-0.24%	–
VRAY	Exit	VIEWRAY INC REG	$0	–	-775,000	–	-0.24%	–
AGIO	Exit	AGIOS PHARMACEUTICALS INC	$0	–	-90,000	–	-0.28%	–
EPZM	Exit	EPIZYME INC REG	$0	–	-265,000	–	-0.28%	–
INCY	Exit	INCYTE CORP LTD	$0	–	-40,000	–	-0.32%	–
RDUS	Exit	RADIUS HEALTH INC	$0	–	-331,826	–	-0.34%	–
DVAX	Exit	DYNAVAX TECHNOLOGIES CORP	$0	–	-925,534	–	-0.36%	–
RIGL	Exit	RIGEL PHARMACEUTICALS INC	$0	–	-1,736,176	–	-0.37%	–
SWAV	Exit	SHOCKWAVE MEDICAL INC	$0	–	-60,000	–	-0.40%	–
MGTX	Exit	MEIRAGTX HOLDINGS PLC	$0	–	-375,000	–	-0.44%	–
RARE	Exit	ULTRAGENYX PHARMACEUTICAL INC	$0	–	-61,500	–	-0.45%	–
ALKS	Exit	ALKERMES PLC	$0	–	-310,000	–	-0.46%	–
MYOV	Exit	MYOVANT SCIENCES LTD	$0	–	-380,000	–	-0.48%	–
RVNC	Exit	REVANCE THERAPEUTICS INC	$0	–	-220,000	–	-0.49%	–
BLUE	Exit	BLUEBIRD BIO INC	$0	–	-107,797	–	-0.52%	–
ACCD	Exit	ACCOLADE INC	$0	–	-151,674	–	-0.52%	–
FGEN	Exit	FIBROGEN INC	$0	–	-145,000	–	-0.53%	–
SGMO	Exit	SANGAMO THERAPEUTICS INC	$0	–	-675,000	–	-0.57%	–
ADVM	Exit	ADVERUM BIOTECHNOLOGIES INC	$0	–	-625,000	–	-0.57%	–
APLS	Exit	APELLIS PHARMACEUTICALS INC	$0	–	-225,000	–	-0.60%	–
GKOS	Exit	GLAUKOS CORP	$0	–	-140,000	–	-0.62%	–
NBIX	Exit	NEUROCRINE BIOSCIENCES INC	$0	–	-75,000	–	-0.64%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-35,000	–	-0.72%	–
EXAS	Exit	EXACT SCIENCES CORP	$0	–	-80,000	–	-0.72%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-12,000	–	-0.76%	–
HCA	Exit	HCA HEALTHCARE INC	$0	–	-75,000	–	-0.83%	–
BIIB	Exit	BIOGEN INC	$0	–	-33,000	–	-0.83%	–
SILK	Exit	SILK ROAD MEDICAL INC	$0	–	-140,000	–	-0.84%	–
LIVN	Exit	LIVANOVA PLC	$0	–	-210,000	–	-0.84%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-120,000	–	-0.85%	–
AERI	Exit	AERIE PHARMACEUTICALS INC	$0	–	-850,000	–	-0.89%	–
XNCR	Exit	XENCOR INC	$0	–	-260,000	–	-0.90%	–
ZBH	Exit	ZIMMER BIOMET HOLDINGS INC	$0	–	-82,000	–	-0.99%	–
IOVA	Exit	IOVANCE BIOTHERAPEUTICS INC	$0	–	-340,000	–	-1.00%	–
ITCI	Exit	INTRA CELLULAR THERAPIES INC	$0	–	-475,000	–	-1.08%	–
BAX	Exit	BAXTER INTL INC	$0	–	-155,000	–	-1.11%	–
REGN	Exit	REGENERON PHARMACEUTICALS	$0	–	-22,500	–	-1.12%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-30,000	–	-1.18%	–
MRK	Exit	MERCK & CO INC	$0	–	-160,000	–	-1.18%	–
SGEN	Exit	SEATTLE GENETICS INC	$0	–	-70,000	–	-1.22%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-240,000	–	-1.25%	–
ALNY	Exit	ALNYLAM PHARMACEUTICALS INC	$0	–	-100,000	–	-1.30%	–
ARNA	Exit	ARENA PHARMACEUTICALS INC	$0	–	-210,778	–	-1.40%	–
MGNX	Exit	MACROGENICS INC	$0	–	-635,711	–	-1.42%	–
XLRN	Exit	ACCELERON PHARMA INC	$0	–	-145,000	–	-1.45%	–
NKTR	Exit	NEKTAR THERAPEUTICS	$0	–	-1,000,000	–	-1.48%	–
ESPR	Exit	ESPERION THERAPEUTICS INC NE	$0	–	-455,000	–	-1.50%	–
BSX	Exit	BOSTON SCIENTIFIC CORP	$0	–	-450,000	–	-1.53%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-290,000	–	-1.56%	–
CNC	Exit	CENTENE CORP DEL	$0	–	-300,000	–	-1.56%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-290,000	–	-1.63%	–
IMMU	Exit	IMMUNOMEDICS INC	$0	–	-221,351	–	-1.67%	–
MRTX	Exit	MIRATI THERAPEUTICS INC	$0	–	-114,311	–	-1.69%	–
ABMD	Exit	ABIOMED INC	$0	–	-70,000	–	-1.72%	–
BHVN	Exit	BIOHAVEN PHARMACTL HLDG CO L	$0	–	-310,000	–	-1.79%	–
COO	Exit	COOPER COS INC	$0	–	-60,000	–	-1.80%	–
ABT	Exit	ABBOTT LABS	$0	–	-205,000	–	-1.98%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-220,780	–	-2.04%	–
LVGO	Exit	LIVONGO HEALTH INC	$0	–	-166,961	–	-2.08%	–
AXNX	Exit	AXONICS MODULATION TECH INC	$0	–	-460,000	–	-2.09%	–
ANTM	Exit	ANTHEM INC	$0	–	-90,000	–	-2.15%	–
JAZZ	Exit	JAZZ PHARMACEUTICALS PLC	$0	–	-170,000	–	-2.16%	–
LLY	Exit	LILLY ELI & CO	$0	–	-165,000	–	-2.17%	–
ABBV	Exit	ABBVIE INC	$0	–	-280,000	–	-2.18%	–
HUM	Exit	HUMANA INC	$0	–	-60,000	–	-2.21%	–
ALXN	Exit	ALEXION PHARMACEUTICALS INC	$0	–	-220,000	–	-2.24%	–
CI	Exit	CIGNA CORP NEW	$0	–	-150,000	–	-2.26%	–
MYOK	Exit	MYOKARDIA INC	$0	–	-190,000	–	-2.30%	–
GH	Exit	GUARDANT HEALTH INC REG	$0	–	-240,000	–	-2.38%	–
VRTX	Exit	VERTEX PHARMACEUTICALS INC	$0	–	-110,000	–	-2.66%	–
UNH	Exit	UNITED HEALTH GROUP INC	$0	–	-110,000	–	-3.05%	–
NVCR	Exit	NOVOCURE LTD REG	$0	–	-409,600	–	-4.05%	–
HZNP	Exit	HORIZON THERAPEUTICS PUB LTD	$0	–	-695,000	–	-4.80%	–
BMRN	Exit	BIOMARIN PHARMACEUTICAL INC	$0	–	-744,354	–	-5.04%	–

Q3 2020

			Value		Shares		↓ Weighting
BMRN	Buy	BIOMARIN PHARMACEUTICAL INC	$56,630,000	+141.6%	744,354	+291.8%	5.04%	+98.9%
HZNP	Sell	HORIZON THERAPEUTICS PUB LTD	$53,988,000	+29.5%	695,000	-7.3%	4.80%	+6.6%
NVCR	Buy	NOVOCURE LTD REG	$45,593,000	+105.0%	409,600	+9.2%	4.05%	+68.8%
UNH	Buy	UNITED HEALTH GROUP INC	$34,295,000	+10.7%	110,000	+4.8%	3.05%	-8.9%
VRTX	Sell	VERTEX PHARMACEUTICALS INC	$29,933,000	-25.0%	110,000	-20.0%	2.66%	-38.3%
GH	Buy	GUARDANT HEALTH INC REG	$26,827,000	+78.7%	240,000	+29.7%	2.38%	+47.1%
MYOK	Buy	MYOKARDIA INC	$25,903,000	+67.6%	190,000	+18.8%	2.30%	+37.9%
CI	Buy	CIGNA CORP NEW	$25,412,000	+23.1%	150,000	+36.4%	2.26%	+1.3%
ALXN	Buy	ALEXION PHARMACEUTICALS INC	$25,175,000	+18.0%	220,000	+15.8%	2.24%	-2.9%
HUM	Buy	HUMANA INC	$24,833,000	+16.4%	60,000	+9.1%	2.21%	-4.2%
ABBV	Sell	ABBVIE INC	$24,525,000	-16.7%	280,000	-6.7%	2.18%	-31.5%
LLY	Buy	LILLY ELI & CO	$24,423,000	+41.7%	165,000	+57.1%	2.17%	+16.6%
JAZZ	Buy	JAZZ PHARMACEUTICALS PLC	$24,240,000	+60.3%	170,000	+24.1%	2.16%	+32.0%
ANTM	Buy	ANTHEM INC	$24,173,000	+41.4%	90,000	+38.5%	2.15%	+16.4%
AXNX	Sell	AXONICS MODULATION TECH INC	$23,478,000	+42.3%	460,000	-2.1%	2.09%	+17.1%
LVGO	Buy	LIVONGO HEALTH INC	$23,383,000	+148.8%	166,961	+33.6%	2.08%	+104.8%
MDT	Buy	MEDTRONIC PLC	$22,943,000	+91.3%	220,780	+68.8%	2.04%	+57.4%
ABT	Buy	ABBOTT LABS	$22,310,000	+31.9%	205,000	+10.8%	1.98%	+8.6%
COO	Buy	COOPER COS INC	$20,227,000	+78.3%	60,000	+50.0%	1.80%	+46.7%
BHVN	Buy	BIOHAVEN PHARMACTL HLDG CO L	$20,153,000	+31.3%	310,000	+47.6%	1.79%	+8.0%
ABMD	Buy	ABIOMED INC	$19,394,000	+18.1%	70,000	+2.9%	1.72%	-2.9%
MRTX	Buy	MIRATI THERAPEUTICS INC	$18,981,000	+66.3%	114,311	+14.3%	1.69%	+36.9%
IMMU	Sell	IMMUNOMEDICS INC	$18,821,000	+15.5%	221,351	-51.9%	1.67%	-5.0%
GILD	Buy	GILEAD SCIENCES INC	$18,325,000	+3.6%	290,000	+26.1%	1.63%	-14.8%
CNC	Buy	CENTENE CORP DEL	$17,499,000	+17.5%	300,000	+28.0%	1.56%	-3.3%
BMY	Sell	BRISTOL MYERS SQUIBB CO	$17,484,000	-21.8%	290,000	-23.7%	1.56%	-35.6%
BSX	Buy	BOSTON SCIENTIFIC CORP	$17,195,000	+19.5%	450,000	+9.8%	1.53%	-1.7%
ESPR	Buy	ESPERION THERAPEUTICS INC NE	$16,912,000	-22.4%	455,000	+7.1%	1.50%	-36.2%
NKTR	Buy	NEKTAR THERAPEUTICS	$16,590,000	-9.3%	1,000,000	+26.6%	1.48%	-25.4%
XLRN	Sell	ACCELERON PHARMA INC	$16,317,000	+10.5%	145,000	-6.5%	1.45%	-9.0%
MGNX	Sell	MACROGENICS INC	$16,014,000	-15.0%	635,711	-5.8%	1.42%	-30.1%
ALNY	Buy	ALNYLAM PHARMACEUTICALS INC	$14,560,000	+58.3%	100,000	+61.0%	1.30%	+30.3%
CVS	Buy	CVS HEALTH CORP	$14,016,000	-5.0%	240,000	+5.7%	1.25%	-21.8%
SGEN	Sell	SEATTLE GENETICS INC	$13,698,000	+7.5%	70,000	-6.7%	1.22%	-11.5%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$13,246,000	+92.4%	30,000	+57.9%	1.18%	+58.3%
REGN	Buy	REGENERON PHARMACEUTICALS	$12,595,000	+61.6%	22,500	+80.0%	1.12%	+33.0%
BAX	Buy	BAXTER INTL INC	$12,465,000	+52.4%	155,000	+63.2%	1.11%	+25.3%
ZBH	Buy	ZIMMER BIOMET HOLDINGS INC	$11,163,000	+64.1%	82,000	+43.9%	0.99%	+35.1%
AERI	Buy	AERIE PHARMACEUTICALS INC	$10,005,000	+14.9%	850,000	+44.1%	0.89%	-5.4%
LIVN	Sell	LIVANOVA PLC	$9,494,000	-10.3%	210,000	-4.5%	0.84%	-26.2%
BIIB	Buy	BIOGEN INC	$9,361,000	+105.8%	33,000	+94.1%	0.83%	+69.5%
ISRG	Sell	INTUITIVE SURGICAL INC	$8,514,000	-12.1%	12,000	-29.4%	0.76%	-27.7%
BDX	Buy	BECTON DICKINSON & CO	$8,144,000	+62.1%	35,000	+66.7%	0.72%	+33.3%
APLS	Buy	APELLIS PHARMACEUTICALS INC	$6,788,000	+26.0%	225,000	+36.4%	0.60%	+3.8%
ADVM	Buy	ADVERUM BIOTECHNOLOGIES INC	$6,438,000	-38.3%	625,000	+25.0%	0.57%	-49.3%
ACCD	New	ACCOLADE INC	$5,896,000	–	151,674	–	0.52%	–
MYOV	Buy	MYOVANT SCIENCES LTD	$5,339,000	+72.6%	380,000	+153.3%	0.48%	+42.2%
MGTX	Buy	MEIRAGTX HOLDINGS PLC	$4,965,000	+32.2%	375,000	+25.0%	0.44%	+8.6%
AMRN	Sell	AMARIN CORP PLCspons adr new	$1,263,000	-65.2%	300,000	-42.9%	0.11%	-71.4%
HAL	Exit	HALLIBURTON CO	$0	–	-8,299	–	-0.01%	–
NLOK	Exit	NORTONLIFELOCK INC	$0	–	-6,926	–	-0.02%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-5,272	–	-0.02%	–
BUD	Exit	ANHEUSER BUSCH INBEV SA/NVsponsored adr	$0	–	-2,806	–	-0.02%	–
PFE	Exit	PFIZER INC	$0	–	-4,508	–	-0.02%	–
DIS	Exit	DISNEY WALT CO	$0	–	-1,338	–	-0.02%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-1,723	–	-0.02%	–
JHG	Exit	JANUS HENDERSON GROUP PLC	$0	–	-8,645	–	-0.02%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-1,587	–	-0.02%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-5,388	–	-0.03%	–
MNTA	Exit	MOMENTA PHARMACEUTICALS INC	$0	–	-120,000	–	-0.43%	–
OMCL	Exit	OMNICELL INC	$0	–	-60,000	–	-0.46%	–
AIMT	Exit	AIMMUNE THERAPEUTICS INC	$0	–	-285,000	–	-0.51%	–

Q2 2020

			Value		Shares		↓ Weighting
HZNP	New	HORIZON THERAPEUTICS PUB LTD	$41,685,000	–	750,000	–	4.50%	–
VRTX	New	VERTEX PHARMACEUTICALS INC	$39,918,000	–	137,500	–	4.31%	–
UNH	New	UNITEDHEALTH GROUP INC	$30,970,000	–	105,000	–	3.35%	–
ABBV	New	ABBVIE INC	$29,454,000	–	300,000	–	3.18%	–
BMRN	New	BIOMARIN PHARMACEUTICAL INC	$23,435,000	–	190,000	–	2.53%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$22,344,000	–	380,000	–	2.41%	–
NVCR	New	NOVOCURE LTD	$22,238,000	–	375,000	–	2.40%	–
ESPR	New	ESPERION THERAPEUTICS INC NE	$21,807,000	–	425,000	–	2.36%	–
HUM	New	HUMANA INC	$21,326,000	–	55,000	–	2.30%	–
ALXN	New	ALEXION PHARMACEUTICALS INC	$21,326,000	–	190,000	–	2.30%	–
CI	New	CIGNA CORP NEW	$20,642,000	–	110,000	–	2.23%	–
MGNX	New	MACROGENICS INC	$18,846,000	–	675,000	–	2.04%	–
NKTR	New	NEKTAR THERAPEUTICS	$18,296,000	–	790,000	–	1.98%	–
GILD	New	GILEAD SCIENCES INC	$17,696,000	–	230,000	–	1.91%	–
LLY	New	LILLY ELI & CO	$17,239,000	–	105,000	–	1.86%	–
ANTM	New	ANTHEM INC	$17,094,000	–	65,000	–	1.85%	–
ABT	New	ABBOTT LABS	$16,915,000	–	185,000	–	1.83%	–
AXNX	New	AXONICS MODULATION TECH INC	$16,502,000	–	470,000	–	1.78%	–
ABMD	New	ABIOMED INC	$16,426,000	–	68,000	–	1.78%	–
IMMU	New	IMMUNOMEDICS INC	$16,302,000	–	460,000	–	1.76%	–
MYOK	New	MYOKARDIA INC	$15,459,000	–	160,000	–	1.67%	–
BHVN	New	BIOHAVEN PHARMACTL HLDG CO L	$15,353,000	–	210,000	–	1.66%	–
JAZZ	New	JAZZ PHARMACEUTICALS PLC	$15,120,000	–	137,032	–	1.63%	–
GH	New	GUARDANT HEALTH INC	$15,009,000	–	185,000	–	1.62%	–
CNC	New	CENTENE CORP DEL	$14,895,000	–	234,378	–	1.61%	–
XLRN	New	ACCELERON PHARMA INC	$14,767,000	–	155,000	–	1.60%	–
CVS	New	CVS HEALTH CORP	$14,748,000	–	227,000	–	1.59%	–
BSX	New	BOSTON SCIENTIFIC CORP	$14,395,000	–	410,000	–	1.56%	–
ARNA	New	ARENA PHARMACEUTICALS INC	$13,268,000	–	210,778	–	1.43%	–
SGEN	New	SEATTLE GENETICS INC	$12,744,000	–	75,000	–	1.38%	–
MRK	New	MERCK & CO INC	$12,373,000	–	160,000	–	1.34%	–
ITCI	New	INTRA CELLULAR THERAPIES INC	$12,193,000	–	475,000	–	1.32%	–
MDT	New	MEDTRONIC PLC	$11,993,000	–	130,780	–	1.30%	–
MRTX	New	MIRATI THERAPEUTICS INC	$11,417,000	–	100,000	–	1.23%	–
COO	New	COOPER COS INC	$11,346,000	–	40,000	–	1.23%	–
LIVN	New	LIVANOVA PLC	$10,589,000	–	220,000	–	1.14%	–
ADVM	New	ADVERUM BIOTECHNOLOGIES INC	$10,440,000	–	500,000	–	1.13%	–
ISRG	New	INTUITIVE SURGICAL INC	$9,687,000	–	17,000	–	1.05%	–
LVGO	New	LIVONGO HEALTH INC	$9,399,000	–	125,000	–	1.02%	–
IOVA	New	IOVANCE BIOTHERAPEUTICS INC	$9,333,000	–	340,000	–	1.01%	–
ALNY	New	ALNYLAM PHARMACEUTICALS INC	$9,197,000	–	62,095	–	0.99%	–
NBIX	New	NEUROCRINE BIOSCIENCES INC	$9,150,000	–	75,000	–	0.99%	–
AERI	New	AERIE PHARMACEUTICALS INC	$8,708,000	–	590,000	–	0.94%	–
XNCR	New	XENCOR INC	$8,421,000	–	260,000	–	0.91%	–
EW	New	EDWARDS LIFESCIENCES CORP	$8,293,000	–	120,000	–	0.90%	–
DVAX	New	DYNAVAX TECHNOLOGIES CORP	$8,209,000	–	925,534	–	0.89%	–
BAX	New	BAXTER INTL INC	$8,180,000	–	95,000	–	0.88%	–
REGN	New	REGENERON PHARMACEUTICALS	$7,796,000	–	12,500	–	0.84%	–
HCA	New	HCA HEALTHCARE INC	$7,280,000	–	75,000	–	0.79%	–
EXAS	New	EXACT SCIENCES CORP	$6,955,000	–	80,000	–	0.75%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$6,884,000	–	19,000	–	0.74%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$6,804,000	–	57,000	–	0.74%	–
BLUE	New	BLUEBIRD BIO INC	$6,580,000	–	107,797	–	0.71%	–
SGMO	New	SANGAMO THERAPEUTICS INC	$6,048,000	–	675,000	–	0.65%	–
ALKS	New	ALKERMES PLC	$6,016,000	–	310,000	–	0.65%	–
FGEN	New	FIBROGEN INC	$5,877,000	–	145,000	–	0.64%	–
SILK	New	SILK ROAD MEDICAL INC	$5,865,000	–	140,000	–	0.63%	–
APLS	New	APELLIS PHARMACEUTICALS INC	$5,389,000	–	165,000	–	0.58%	–
GKOS	New	GLAUKOS CORP	$5,379,000	–	140,000	–	0.58%	–
RVNC	New	REVANCE THERAPEUTICS INC	$5,372,000	–	220,000	–	0.58%	–
BDX	New	BECTON DICKINSON & CO	$5,025,000	–	21,000	–	0.54%	–
AGIO	New	AGIOS PHARMACEUTICALS INC	$4,813,000	–	90,000	–	0.52%	–
RARE	New	ULTRAGENYX PHARMACEUTICAL INC	$4,811,000	–	61,500	–	0.52%	–
AIMT	New	AIMMUNE THERAPEUTICS INC	$4,762,000	–	285,000	–	0.51%	–
GTHX	New	G1 THERAPEUTICS INC	$4,609,000	–	190,000	–	0.50%	–
BIIB	New	BIOGEN INC	$4,548,000	–	17,000	–	0.49%	–
RDUS	New	RADIUS HEALTH INC	$4,523,000	–	331,826	–	0.49%	–
EPZM	New	EPIZYME INC	$4,256,000	–	265,000	–	0.46%	–
OMCL	New	OMNICELL INC	$4,237,000	–	60,000	–	0.46%	–
INCY	New	INCYTE CORP	$4,159,000	–	40,000	–	0.45%	–
MNTA	New	MOMENTA PHARMACEUTICALS INC	$3,992,000	–	120,000	–	0.43%	–
MGTX	New	MEIRAGTX HOLDINGS PLC	$3,756,000	–	300,000	–	0.41%	–
AMRN	New	AMARIN CORP PLCspons adr new	$3,633,000	–	525,000	–	0.39%	–
RIGL	New	RIGEL PHARMACEUTICALS INC	$3,177,000	–	1,736,176	–	0.34%	–
MYOV	New	MYOVANT SCIENCES LTD	$3,093,000	–	150,000	–	0.33%	–
SWAV	New	SHOCKWAVE MED INC	$2,842,000	–	60,000	–	0.31%	–
ABEO	New	ABEONA THERAPEUTICS INC	$2,696,000	–	925,000	–	0.29%	–
CLLS	New	CELLECTIS S Aspons ads	$2,574,000	–	144,604	–	0.28%	–
QURE	New	UNIQURE NV	$1,823,000	–	40,466	–	0.20%	–
VRAY	New	VIEWRAY INC	$1,736,000	–	775,000	–	0.19%	–
PIRS	New	PIERIS PHARMACEUTICALS INC	$930,000	–	300,000	–	0.10%	–
CVX	New	CHEVRON CORP	$265,000	–	2,974	–	0.03%	–
XOM	New	EXXON MOBIL CORP	$241,000	–	5,388	–	0.03%	–
QCOM	New	QUALCOMM INC	$217,000	–	2,381	–	0.02%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$192,000	–	1,587	–	0.02%	–
JHG	New	JANUS HENDERSON GROUP PLC	$183,000	–	8,645	–	0.02%	–
F	New	FORD MTR CO DEL	$177,000	–	29,164	–	0.02%	–
JPM	New	JPMORGAN CHASE & CO	$162,000	–	1,723	–	0.02%	–
PFE	New	PFIZER INC	$147,000	–	4,508	–	0.02%	–
DIS	New	DISNEY WALT CO	$149,000	–	1,338	–	0.02%	–
NLOK	New	NORTONLIFELOCK INC	$137,000	–	6,926	–	0.02%	–
BUD	New	ANHEUSER BUSCH INBEV SA/NVsponsored adr	$138,000	–	2,806	–	0.02%	–
WFC	New	WELLS FARGO CO NEW	$135,000	–	5,272	–	0.02%	–
HAL	New	HALLIBURTON CO	$108,000	–	8,299	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
SYMC	Exit	Symantec Corp	$0	–	-8,761	–	-0.03%	–
MSFT	Exit	Microsoft Corp	$0	–	-1,532	–	-0.03%	–
JHG	Exit	Janus Henderson Group Plc Reg	$0	–	-10,645	–	-0.03%	–
QCOM	Exit	Qualcomm Inc	$0	–	-3,391	–	-0.03%	–
WFC	Exit	Wells Fargo & Co	$0	–	-5,272	–	-0.03%	–
F	Exit	Ford Motor Co	$0	–	-29,164	–	-0.03%	–
DIS	Exit	The Walt Disney Co	$0	–	-2,083	–	-0.03%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-3,854	–	-0.03%	–
SNSS	Exit	Sunesis Pharmaceuticals Inc Reg	$0	–	-377,244	–	-0.03%	–
JPM	Exit	JPMorgan Chase & Co	$0	–	-2,472	–	-0.04%	–
IBM	Exit	IBM Corp	$0	–	-2,215	–	-0.04%	–
BUD	Exit	Anheuser-Busch InBev SA ADR spons repr 1 Sharesponsored adr	$0	–	-3,409	–	-0.04%	–
CVX	Exit	Chevron Corp	$0	–	-2,974	–	-0.04%	–
ADVM	Exit	Adverum Biotechnologies Inc	$0	–	-119,673	–	-0.08%	–
ACHN	Exit	Achillion Pharmaceuticals Inc	$0	–	-277,800	–	-0.12%	–
PIRS	Exit	Pieris Pharmaceuticals Inc Reg	$0	–	-300,000	–	-0.13%	–
VKTX	Exit	Viking Therapeutics Inc Reg	$0	–	-200,000	–	-0.17%	–
ARQL	Exit	ArQule Inc Reg	$0	–	-200,000	–	-0.18%	–
VRAY	Exit	ViewRay Inc Reg	$0	–	-635,434	–	-0.23%	–
GH	Exit	Guardant Health Inc Reg	$0	–	-35,000	–	-0.28%	–
RVNC	Exit	Revance Therapeutics Inc	$0	–	-173,917	–	-0.28%	–
ABEO	Exit	Abeona Therapeutics Inc Reg	$0	–	-1,000,000	–	-0.28%	–
MDGL	Exit	Madrigal Pharmaceuticals Inc Reg	$0	–	-30,000	–	-0.32%	–
XLRN	Exit	Acceleron Pharma Inc Reg	$0	–	-70,000	–	-0.35%	–
SAGE	Exit	Sage Therapeutics Inc	$0	–	-20,000	–	-0.35%	–
NSTG	Exit	NanoString Technologies Inc Reg	$0	–	-142,126	–	-0.38%	–
AIMT	Exit	Aimmune Therapeutics Inc Reg	$0	–	-149,201	–	-0.39%	–
ICPT	Exit	Intercept Pharmaceuticals Inc	$0	–	-47,600	–	-0.40%	–
HMSY	Exit	HMS Holdings Corp Reg	$0	–	-98,300	–	-0.42%	–
DERM	Exit	Dermira Inc Reg	$0	–	-549,300	–	-0.44%	–
RIGL	Exit	Rigel Pharmaceuticals Inc	$0	–	-2,000,000	–	-0.47%	–
RDUS	Exit	Radius Health Inc Reg	$0	–	-150,000	–	-0.48%	–
SILK	Exit	Silk Road Medical Inc Reg	$0	–	-125,000	–	-0.51%	–
ALKS	Exit	Alkermes Plc	$0	–	-220,000	–	-0.54%	–
DVAX	Exit	Dynavax Technologies Corp	$0	–	-1,234,335	–	-0.55%	–
EPZM	Exit	Epizyme Inc Reg	$0	–	-450,028	–	-0.58%	–
BLUE	Exit	Bluebird Bio Inc	$0	–	-52,000	–	-0.60%	–
DPLO	Exit	Diplomat Pharmacy Inc Reg	$0	–	-1,060,000	–	-0.65%	–
STML	Exit	Stemline Therapeutics Inc Reg	$0	–	-511,023	–	-0.67%	–
ALNY	Exit	Alnylam Pharmaceuticals Inc	$0	–	-69,000	–	-0.70%	–
EXEL	Exit	Exelixis Inc	$0	–	-320,000	–	-0.71%	–
RARX	Exit	Ra Pharmaceuticals Inc Reg	$0	–	-244,000	–	-0.72%	–
CHRS	Exit	Coherus BioSciences Inc	$0	–	-290,000	–	-0.74%	–
	Exit	Incyte Corp Ltd	$0	–	-80,000	–	-0.74%	–
AMRN	Exit	Amarin Corp Plc spons ADR repr 1 Sharespons adr new	$0	–	-400,000	–	-0.76%	–
ITCI	Exit	Intra-Cellular Therapies Inc	$0	–	-850,000	–	-0.80%	–
OMCL	Exit	Omnicell Inc	$0	–	-90,000	–	-0.82%	–
SGMO	Exit	Sangamo Therapeutics Inc Reg	$0	–	-734,811	–	-0.83%	–
ARNA	Exit	Arena Pharmaceuticals Inc Reg	$0	–	-155,000	–	-0.89%	–
CNC	Exit	Centene Corp	$0	–	-175,000	–	-0.95%	–
MDCO	Exit	Medicines Co	$0	–	-153,000	–	-0.96%	–
MRTX	Exit	Mirati Therapeutics Inc Reg	$0	–	-100,000	–	-0.98%	–
AGIO	Exit	Agios Pharmaceuticals Inc	$0	–	-245,002	–	-1.00%	–
EW	Exit	Edwards Lifesciences Corp	$0	–	-36,585	–	-1.01%	–
ABC	Exit	AmerisourceBergen Corp	$0	–	-99,000	–	-1.02%	–
LIVN	Exit	Livanova Plc	$0	–	-120,000	–	-1.11%	–
HCA	Exit	HCA Healthcare Inc	$0	–	-75,000	–	-1.13%	–
AERI	Exit	Aerie Pharmaceuticals Inc	$0	–	-475,000	–	-1.14%	–
IOVA	Exit	Iovance Biotherapeutics Inc Reg	$0	–	-520,000	–	-1.19%	–
EXAS	Exit	Exact Sciences Corp Reg	$0	–	-107,786	–	-1.22%	–
XNCR	Exit	Xencor Inc	$0	–	-302,523	–	-1.28%	–
MGNX	Exit	Macrogenics Inc	$0	–	-799,373	–	-1.28%	–
MYOK	Exit	MyoKardia Inc Reg	$0	–	-200,000	–	-1.31%	–
FGEN	Exit	FibroGen Inc	$0	–	-295,000	–	-1.37%	–
TMO	Exit	Thermo Fisher Scientific Inc	$0	–	-38,000	–	-1.39%	–
IMMU	Exit	Immunomedics Inc	$0	–	-850,000	–	-1.41%	–
CI	Exit	Cigna Corp Reg	$0	–	-80,000	–	-1.52%	–
GTHX	Exit	G1 Therapeutics Inc Reg	$0	–	-535,657	–	-1.53%	–
REGN	Exit	Regeneron Pharmaceuticals Inc	$0	–	-45,031	–	-1.57%	–
SGEN	Exit	Seattle Genetics Inc Reg	$0	–	-148,700	–	-1.59%	–
ABBV	Exit	AbbVie Inc	$0	–	-170,000	–	-1.61%	–
NBIX	Exit	Neurocrine Biosciences Inc	$0	–	-149,600	–	-1.69%	–
GKOS	Exit	Glaukos Corp	$0	–	-229,600	–	-1.80%	–
ANTM	Exit	Anthem Inc	$0	–	-60,000	–	-1.81%	–
BSX	Exit	Boston Scientific Corp	$0	–	-370,000	–	-1.89%	–
HUM	Exit	Humana Inc	$0	–	-60,000	–	-1.92%	–
BDX	Exit	Becton Dickinson & Co	$0	–	-63,000	–	-2.00%	–
UNH	Exit	United Health Group Inc	$0	–	-77,000	–	-2.10%	–
LLY	Exit	Eli Lilly & Co	$0	–	-150,000	–	-2.10%	–
MRK	Exit	Merck & Co Inc	$0	–	-215,000	–	-2.27%	–
ABT	Exit	Abbott Laboratories	$0	–	-220,114	–	-2.31%	–
CVS	Exit	CVS Health Corp	$0	–	-303,768	–	-2.40%	–
JAZZ	Exit	Jazz Pharmaceuticals Plc	$0	–	-150,000	–	-2.41%	–
BMRN	Exit	BioMarin Pharmaceutical Inc	$0	–	-290,491	–	-2.45%	–
MDT	Exit	Medtronic Plc Reg	$0	–	-185,218	–	-2.52%	–
BMY	Exit	Bristol Myers Squibb Co	$0	–	-415,000	–	-2.64%	–
ABMD	Exit	Abiomed Inc	$0	–	-120,000	–	-2.68%	–
NKTR	Exit	Nektar Therapeutics	$0	–	-1,200,000	–	-2.74%	–
ESPR	Exit	Esperion Therapeutics Inc	$0	–	-655,854	–	-3.01%	–
ALXN	Exit	Alexion Pharmaceuticals Inc	$0	–	-247,303	–	-3.04%	–
NVCR	Exit	NovoCure Ltd Reg	$0	–	-340,000	–	-3.19%	–
HZNP	Exit	Horizon Therapeutics Plc	$0	–	-1,025,000	–	-3.50%	–
VRTX	Exit	Vertex Pharmaceuticals Inc	$0	–	-186,000	–	-3.95%	–

Q3 2019

			Value		Shares		↓ Weighting
VRTX	Buy	Vertex Pharmaceuticals Inc	$31,512,000	-7.2%	186,000	+0.4%	3.95%	+5.6%
HZNP	New	Horizon Therapeutics Plc	$27,911,000	–	1,025,000	–	3.50%	–
NVCR	Sell	NovoCure Ltd Reg	$25,425,000	+9.9%	340,000	-7.1%	3.19%	+25.1%
ALXN	Buy	Alexion Pharmaceuticals Inc	$24,221,000	-8.9%	247,303	+21.8%	3.04%	+3.7%
ESPR	Buy	Esperion Therapeutics Inc	$24,044,000	+25.4%	655,854	+59.2%	3.01%	+42.7%
NKTR	Buy	Nektar Therapeutics	$21,858,000	-15.3%	1,200,000	+65.5%	2.74%	-3.6%
ABMD	Buy	Abiomed Inc	$21,347,000	-11.8%	120,000	+29.2%	2.68%	+0.4%
BMY	Buy	Bristol Myers Squibb Co	$21,045,000	+37.1%	415,000	+22.6%	2.64%	+56.1%
MDT	Buy	Medtronic Plc Reg	$20,118,000	+26.8%	185,218	+13.7%	2.52%	+44.4%
BMRN	Buy	BioMarin Pharmaceutical Inc	$19,579,000	-18.8%	290,491	+3.2%	2.45%	-7.5%
JAZZ	Sell	Jazz Pharmaceuticals Plc	$19,221,000	-28.0%	150,000	-19.9%	2.41%	-18.0%
CVS	Sell	CVS Health Corp	$19,159,000	+2.3%	303,768	-11.6%	2.40%	+16.4%
ABT	Sell	Abbott Laboratories	$18,417,000	-15.6%	220,114	-15.2%	2.31%	-4.0%
MRK	New	Merck & Co Inc	$18,099,000	–	215,000	–	2.27%	–
LLY	Sell	Eli Lilly & Co	$16,775,000	-5.4%	150,000	-6.2%	2.10%	+7.7%
UNH	Sell	United Health Group Inc	$16,734,000	-34.7%	77,000	-26.7%	2.10%	-25.7%
BDX	Sell	Becton Dickinson & Co	$15,936,000	-21.0%	63,000	-21.2%	2.00%	-10.0%
HUM	Sell	Humana Inc	$15,340,000	-44.9%	60,000	-42.9%	1.92%	-37.3%
BSX	Sell	Boston Scientific Corp	$15,055,000	-9.7%	370,000	-4.6%	1.89%	+2.8%
ANTM	Sell	Anthem Inc	$14,406,000	-43.3%	60,000	-33.3%	1.81%	-35.5%
GKOS	Sell	Glaukos Corp	$14,352,000	-19.3%	229,600	-2.7%	1.80%	-8.2%
NBIX	Sell	Neurocrine Biosciences Inc	$13,480,000	-11.3%	149,600	-16.9%	1.69%	+1.0%
ABBV	New	AbbVie Inc	$12,872,000	–	170,000	–	1.61%	–
SGEN	Buy	Seattle Genetics Inc Reg	$12,699,000	+35.5%	148,700	+9.8%	1.59%	+54.3%
REGN	Buy	Regeneron Pharmaceuticals Inc	$12,492,000	-11.3%	45,031	+0.0%	1.57%	+0.9%
GTHX	Buy	G1 Therapeutics Inc Reg	$12,202,000	+45.1%	535,657	+95.3%	1.53%	+65.2%
CI	Sell	Cigna Corp Reg	$12,143,000	-19.9%	80,000	-16.8%	1.52%	-8.8%
IMMU	Sell	Immunomedics Inc	$11,271,000	-4.5%	850,000	-0.2%	1.41%	+8.6%
TMO	Buy	Thermo Fisher Scientific Inc	$11,068,000	+26.5%	38,000	+27.5%	1.39%	+43.9%
FGEN	Sell	FibroGen Inc	$10,909,000	-30.5%	295,000	-15.1%	1.37%	-20.9%
MYOK	Sell	MyoKardia Inc Reg	$10,430,000	-7.6%	200,000	-11.1%	1.31%	+5.2%
XNCR	Sell	Xencor Inc	$10,204,000	-22.0%	302,523	-5.4%	1.28%	-11.3%
MGNX	Sell	Macrogenics Inc	$10,200,000	-29.9%	799,373	-6.7%	1.28%	-20.2%
EXAS	Buy	Exact Sciences Corp Reg	$9,741,000	-8.3%	107,786	+19.8%	1.22%	+4.4%
IOVA	Sell	Iovance Biotherapeutics Inc Reg	$9,464,000	-48.6%	520,000	-30.7%	1.19%	-41.5%
AERI	Buy	Aerie Pharmaceuticals Inc	$9,130,000	+18.8%	475,000	+82.7%	1.14%	+35.3%
HCA	Sell	HCA Healthcare Inc	$9,032,000	-50.9%	75,000	-44.9%	1.13%	-44.2%
LIVN	Sell	Livanova Plc	$8,855,000	-18.0%	120,000	-20.0%	1.11%	-6.6%
ABC	Sell	AmerisourceBergen Corp	$8,151,000	-32.4%	99,000	-30.0%	1.02%	-23.1%
EW	Buy	Edwards Lifesciences Corp	$8,045,000	+37.9%	36,585	+15.8%	1.01%	+56.9%
AGIO	Buy	Agios Pharmaceuticals Inc	$7,938,000	-20.4%	245,002	+22.5%	1.00%	-9.5%
MRTX	Sell	Mirati Therapeutics Inc Reg	$7,791,000	-58.4%	100,000	-45.1%	0.98%	-52.7%
MDCO	Sell	Medicines Co	$7,650,000	+4.9%	153,000	-23.5%	0.96%	+19.4%
CNC	Sell	Centene Corp	$7,571,000	-51.1%	175,000	-40.7%	0.95%	-44.3%
ARNA	Sell	Arena Pharmaceuticals Inc Reg	$7,094,000	-28.8%	155,000	-8.8%	0.89%	-19.0%
SGMO	Sell	Sangamo Therapeutics Inc Reg	$6,650,000	-22.2%	734,811	-7.4%	0.83%	-11.5%
OMCL	Sell	Omnicell Inc	$6,504,000	-24.7%	90,000	-10.3%	0.82%	-14.3%
ITCI	Sell	Intra-Cellular Therapies Inc	$6,350,000	-48.5%	850,000	-10.5%	0.80%	-41.4%
AMRN	Buy	Amarin Corp Plc spons ADR repr 1 Sharespons adr new	$6,064,000	-10.8%	400,000	+14.0%	0.76%	+1.5%
	New	Incyte Corp Ltd	$5,938,000	–	80,000	–	0.74%	–
CHRS	Sell	Coherus BioSciences Inc	$5,875,000	-31.8%	290,000	-25.6%	0.74%	-22.4%
RARX	Buy	Ra Pharmaceuticals Inc Reg	$5,771,000	-16.2%	244,000	+6.6%	0.72%	-4.6%
EXEL	Sell	Exelixis Inc	$5,659,000	-42.4%	320,000	-30.4%	0.71%	-34.5%
ALNY	Sell	Alnylam Pharmaceuticals Inc	$5,549,000	-6.2%	69,000	-15.4%	0.70%	+6.7%
STML	Buy	Stemline Therapeutics Inc Reg	$5,320,000	-29.7%	511,023	+3.4%	0.67%	-20.0%
DPLO	Sell	Diplomat Pharmacy Inc Reg	$5,194,000	-29.1%	1,060,000	-11.9%	0.65%	-19.3%
BLUE	Sell	Bluebird Bio Inc	$4,775,000	-46.4%	52,000	-25.7%	0.60%	-38.9%
EPZM	Sell	Epizyme Inc Reg	$4,642,000	-25.1%	450,028	-8.8%	0.58%	-14.7%
ALKS	Buy	Alkermes Plc	$4,292,000	+58.1%	220,000	+82.7%	0.54%	+79.9%
SILK	New	Silk Road Medical Inc Reg	$4,066,000	–	125,000	–	0.51%	–
RDUS	New	Radius Health Inc Reg	$3,863,000	–	150,000	–	0.48%	–
RIGL	Sell	Rigel Pharmaceuticals Inc	$3,740,000	-36.7%	2,000,000	-11.7%	0.47%	-28.0%
DERM	Buy	Dermira Inc Reg	$3,510,000	-26.6%	549,300	+9.8%	0.44%	-16.5%
HMSY	Sell	HMS Holdings Corp Reg	$3,388,000	+4.6%	98,300	-1.7%	0.42%	+19.0%
ICPT	Buy	Intercept Pharmaceuticals Inc	$3,159,000	+5.6%	47,600	+26.6%	0.40%	+20.0%
NSTG	Buy	NanoString Technologies Inc Reg	$3,069,000	-15.7%	142,126	+18.4%	0.38%	-4.0%
SAGE	Sell	Sage Therapeutics Inc	$2,806,000	-29.2%	20,000	-7.6%	0.35%	-19.3%
MDGL	Sell	Madrigal Pharmaceuticals Inc Reg	$2,587,000	-33.7%	30,000	-19.4%	0.32%	-24.7%
RVNC	Sell	Revance Therapeutics Inc	$2,261,000	-9.8%	173,917	-10.0%	0.28%	+2.5%
ABEO	Buy	Abeona Therapeutics Inc Reg	$2,260,000	-27.2%	1,000,000	+54.1%	0.28%	-17.3%
GH	New	Guardant Health Inc Reg	$2,234,000	–	35,000	–	0.28%	–
VRAY	Sell	ViewRay Inc Reg	$1,843,000	-68.5%	635,434	-4.3%	0.23%	-64.1%
ARQL	New	ArQule Inc Reg	$1,434,000	–	200,000	–	0.18%	–
VKTX	Sell	Viking Therapeutics Inc Reg	$1,376,000	-43.1%	200,000	-31.4%	0.17%	-35.3%
SYMC	New	Symantec Corp	$207,000	–	8,761	–	0.03%	–
ONCE	Exit	Spark Therapeutics Inc	$0	–	-10,000	–	-0.11%	–
QGEN	Exit	Qiagen NV Reg	$0	–	-60,000	–	-0.27%	–
INCY	Exit	Incyte Corp Ltd	$0	–	-100,000	–	-0.94%	–
HBNC	Exit	Horizon Therapeutics Plc	$0	–	-1,087,656	–	-2.88%	–

Q2 2019

			Value		Shares		↓ Weighting
VRTX	New	Vertex Pharmaceuticals Inc	$33,968,000	–	185,232	–	3.74%	–
HUM	New	Humana Inc	$27,857,000	–	105,000	–	3.07%	–
JAZZ	New	Jazz Pharmaceuticals Plc	$26,683,000	–	187,171	–	2.94%	–
ALXN	New	Alexion Pharmaceuticals Inc	$26,591,000	–	203,017	–	2.93%	–
HBNC	New	Horizon Therapeutics Plc	$26,169,000	–	1,087,656	–	2.88%	–
NKTR	New	Nektar Therapeutics	$25,796,000	–	725,000	–	2.84%	–
UNH	New	United Health Group Inc	$25,621,000	–	105,000	–	2.82%	–
ANTM	New	Anthem Inc	$25,399,000	–	90,000	–	2.80%	–
ABMD	New	Abiomed Inc	$24,200,000	–	92,900	–	2.67%	–
BMRN	New	BioMarin Pharmaceutical Inc	$24,098,000	–	281,349	–	2.65%	–
NVCR	New	NovoCure Ltd Reg	$23,136,000	–	365,899	–	2.55%	–
ABT	New	Abbott Laboratories	$21,828,000	–	259,552	–	2.40%	–
BDX	New	Becton Dickinson & Co	$20,161,000	–	80,000	–	2.22%	–
ESPR	New	Esperion Therapeutics Inc	$19,171,000	–	412,093	–	2.11%	–
MRTX	New	Mirati Therapeutics Inc Reg	$18,747,000	–	182,008	–	2.06%	–
CVS	New	CVS Health Corp	$18,732,000	–	343,768	–	2.06%	–
IOVA	New	Iovance Biotherapeutics Inc Reg	$18,407,000	–	750,700	–	2.03%	–
HCA	New	HCA Healthcare Inc	$18,405,000	–	136,164	–	2.03%	–
GKOS	New	Glaukos Corp	$17,788,000	–	235,911	–	1.96%	–
LLY	New	Eli Lilly & Co	$17,726,000	–	160,000	–	1.95%	–
BSX	New	Boston Scientific Corp	$16,672,000	–	387,908	–	1.84%	–
MDT	New	Medtronic Plc Reg	$15,863,000	–	162,883	–	1.75%	–
FGEN	New	FibroGen Inc	$15,697,000	–	347,439	–	1.73%	–
CNC	New	Centene Corp	$15,470,000	–	295,000	–	1.70%	–
BMY	New	Bristol Myers Squibb Co	$15,346,000	–	338,386	–	1.69%	–
NBIX	New	Neurocrine Biosciences Inc	$15,197,000	–	180,000	–	1.67%	–
CI	New	Cigna Corp Reg	$15,155,000	–	96,191	–	1.67%	–
MGNX	New	Macrogenics Inc	$14,546,000	–	857,169	–	1.60%	–
REGN	New	Regeneron Pharmaceuticals Inc	$14,089,000	–	45,014	–	1.55%	–
XNCR	New	Xencor Inc	$13,089,000	–	319,792	–	1.44%	–
ITCI	New	Intra-Cellular Therapies Inc	$12,329,000	–	949,833	–	1.36%	–
ABC	New	AmerisourceBergen Corp	$12,066,000	–	141,520	–	1.33%	–
IMMU	New	Immunomedics Inc	$11,808,000	–	851,367	–	1.30%	–
MYOK	New	MyoKardia Inc Reg	$11,283,000	–	225,024	–	1.24%	–
LIVN	New	Livanova Plc	$10,794,000	–	150,000	–	1.19%	–
EXAS	New	Exact Sciences Corp Reg	$10,624,000	–	90,000	–	1.17%	–
AGIO	New	Agios Pharmaceuticals Inc	$9,976,000	–	200,000	–	1.10%	–
ARNA	New	Arena Pharmaceuticals Inc Reg	$9,967,000	–	170,000	–	1.10%	–
EXEL	New	Exelixis Inc	$9,830,000	–	460,000	–	1.08%	–
SGEN	New	Seattle Genetics Inc Reg	$9,369,000	–	135,374	–	1.03%	–
BLUE	New	Bluebird Bio Inc	$8,904,000	–	70,000	–	0.98%	–
TMO	New	Thermo Fisher Scientific Inc	$8,752,000	–	29,800	–	0.96%	–
OMCL	New	Omnicell Inc	$8,635,000	–	100,375	–	0.95%	–
CHRS	New	Coherus BioSciences Inc	$8,619,000	–	390,000	–	0.95%	–
SGMO	New	Sangamo Therapeutics Inc Reg	$8,551,000	–	793,957	–	0.94%	–
INCY	New	Incyte Corp Ltd	$8,496,000	–	100,000	–	0.94%	–
GTHX	New	G1 Therapeutics Inc Reg	$8,409,000	–	274,274	–	0.93%	–
AERI	New	Aerie Pharmaceuticals Inc	$7,683,000	–	260,000	–	0.85%	–
STML	New	Stemline Therapeutics Inc Reg	$7,568,000	–	493,999	–	0.83%	–
DPLO	New	Diplomat Pharmacy Inc Reg	$7,329,000	–	1,203,405	–	0.81%	–
MDCO	New	Medicines Co	$7,294,000	–	200,000	–	0.80%	–
RARX	New	Ra Pharmaceuticals Inc Reg	$6,886,000	–	229,000	–	0.76%	–
AMRN	New	Amarin Corp Plc spons ADR repr 1 Sharespons adr new	$6,802,000	–	350,800	–	0.75%	–
EPZM	New	Epizyme Inc Reg	$6,196,000	–	493,679	–	0.68%	–
ALNY	New	Alnylam Pharmaceuticals Inc	$5,917,000	–	81,550	–	0.65%	–
RIGL	New	Rigel Pharmaceuticals Inc	$5,911,000	–	2,264,942	–	0.65%	–
VRAY	New	ViewRay Inc Reg	$5,850,000	–	664,023	–	0.64%	–
EW	New	Edwards Lifesciences Corp	$5,835,000	–	31,585	–	0.64%	–
DVAX	New	Dynavax Technologies Corp	$4,925,000	–	1,234,335	–	0.54%	–
DERM	New	Dermira Inc Reg	$4,783,000	–	500,329	–	0.53%	–
SAGE	New	Sage Therapeutics Inc	$3,962,000	–	21,639	–	0.44%	–
MDGL	New	Madrigal Pharmaceuticals Inc Reg	$3,902,000	–	37,225	–	0.43%	–
NSTG	New	NanoString Technologies Inc Reg	$3,642,000	–	120,000	–	0.40%	–
HMSY	New	HMS Holdings Corp Reg	$3,239,000	–	100,000	–	0.36%	–
AIMT	New	Aimmune Therapeutics Inc Reg	$3,106,000	–	149,201	–	0.34%	–
ABEO	New	Abeona Therapeutics Inc Reg	$3,103,000	–	649,123	–	0.34%	–
ICPT	New	Intercept Pharmaceuticals Inc	$2,992,000	–	37,600	–	0.33%	–
XLRN	New	Acceleron Pharma Inc Reg	$2,876,000	–	70,000	–	0.32%	–
ALKS	New	Alkermes Plc	$2,714,000	–	120,399	–	0.30%	–
RVNC	New	Revance Therapeutics Inc	$2,506,000	–	193,181	–	0.28%	–
QGEN	New	Qiagen NV Reg	$2,438,000	–	60,000	–	0.27%	–
VKTX	New	Viking Therapeutics Inc Reg	$2,419,000	–	291,499	–	0.27%	–
ADVM	New	Adverum Biotechnologies Inc	$1,423,000	–	119,673	–	0.16%	–
PIRS	New	Pieris Pharmaceuticals Inc Reg	$1,410,000	–	300,000	–	0.16%	–
ONCE	New	Spark Therapeutics Inc	$1,024,000	–	10,000	–	0.11%	–
ACHN	New	Achillion Pharmaceuticals Inc	$745,000	–	277,800	–	0.08%	–
CVX	New	Chevron Corp	$370,000	–	2,974	–	0.04%	–
IBM	New	IBM Corp	$305,000	–	2,215	–	0.03%	–
F	New	Ford Motor Co	$298,000	–	29,164	–	0.03%	–
BUD	New	Anheuser-Busch InBev SA ADR spons repr 1 Sharesponsored adr	$302,000	–	3,409	–	0.03%	–
XOM	New	Exxon Mobil Corp	$295,000	–	3,854	–	0.03%	–
DIS	New	The Walt Disney Co	$291,000	–	2,083	–	0.03%	–
SNSS	New	Sunesis Pharmaceuticals Inc Reg	$274,000	–	377,244	–	0.03%	–
JPM	New	JPMorgan Chase & Co	$276,000	–	2,472	–	0.03%	–
QCOM	New	Qualcomm Inc	$258,000	–	3,391	–	0.03%	–
WFC	New	Wells Fargo & Co	$249,000	–	5,272	–	0.03%	–
JHG	New	Janus Henderson Group Plc Reg	$228,000	–	10,645	–	0.02%	–
MSFT	New	Microsoft Corp	$205,000	–	1,532	–	0.02%	–

Q4 2018

			Value		Shares		↓ Weighting
RGLS	Exit	Regulus Therapeutic Inc	$0	–	-492,878	–	-0.01%	–
SYMC	Exit	Symantec Corp	$0	–	-9,734	–	-0.02%	–
GOOGL	Exit	Alphabet Inc Acap stk cl a	$0	–	-178	–	-0.02%	–
F	Exit	Ford Motor Co	$0	–	-32,405	–	-0.03%	–
WFC	Exit	Wells Fargo & Co	$0	–	-5,858	–	-0.03%	–
JHG	Exit	Janus Henderson Group Plc Reg	$0	–	-11,828	–	-0.03%	–
BUD	Exit	Anheuser-Busch InBev SA ADR spons repr 1 Sharesponsored adr	$0	–	-3,788	–	-0.03%	–
MSFT	Exit	Microsoft Corp	$0	–	-2,887	–	-0.03%	–
IBM	Exit	IBM Corp	$0	–	-2,461	–	-0.04%	–
HAL	Exit	Halliburton Co (Hg Co)	$0	–	-9,221	–	-0.04%	–
PFE	Exit	Pfizer Inc	$0	–	-8,754	–	-0.04%	–
DIS	Exit	Walt Disney Co (The)	$0	–	-3,483	–	-0.04%	–
JPM	Exit	JPMorgan Chase & Co	$0	–	-3,726	–	-0.04%	–
CVX	Exit	Chevron Corp	$0	–	-3,733	–	-0.05%	–
QCOM	Exit	Qualcomm Inc	$0	–	-6,476	–	-0.05%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-6,111	–	-0.05%	–
SNSS	Exit	Sunesis Pharmaceuticals Inc Reg	$0	–	-427,642	–	-0.09%	–
ADVM	Exit	Adverum Biotechnologies Inc	$0	–	-153,965	–	-0.09%	–
PDCO	Exit	Patterson Companies Inc	$0	–	-38,500	–	-0.09%	–
CMRX	Exit	Chimerix Inc	$0	–	-341,300	–	-0.13%	–
PIRS	Exit	Pieris Pharmaceuticals Inc Reg	$0	–	-300,000	–	-0.17%	–
ACHN	Exit	Achillion Pharmaceuticals Inc	$0	–	-617,800	–	-0.23%	–
ZGNX	Exit	Zogenix Inc Reg	$0	–	-60,000	–	-0.30%	–
MDCO	Exit	Medicines Co	$0	–	-135,000	–	-0.40%	–
VRAY	Exit	ViewRay Inc Reg	$0	–	-516,623	–	-0.48%	–
RVNC	Exit	Revance Therapeutics Inc	$0	–	-203,181	–	-0.51%	–
CHRS	Exit	Coherus BioSciences Inc	$0	–	-331,131	–	-0.55%	–
ADMS	Exit	Adamas Pharmaceuticals Inc	$0	–	-273,593	–	-0.55%	–
CNC	Exit	Centene Corp	$0	–	-40,000	–	-0.58%	–
MD	Exit	Mednax Inc	$0	–	-124,674	–	-0.58%	–
PTLA	Exit	Portola Pharmaceuticals Inc	$0	–	-242,302	–	-0.65%	–
RIGL	Exit	Rigel Pharmaceuticals Inc	$0	–	-2,113,988	–	-0.68%	–
REGN	Exit	Regeneron Pharmaceuticals Inc	$0	–	-17,000	–	-0.69%	–
OMCL	Exit	Omnicell Inc	$0	–	-100,375	–	-0.72%	–
MGNX	Exit	Macrogenics Inc	$0	–	-341,586	–	-0.73%	–
ONCE	Exit	Spark Therapeutics Inc	$0	–	-137,691	–	-0.75%	–
XNCR	Exit	Xencor Inc	$0	–	-209,854	–	-0.82%	–
LOXO	Exit	Loxo Oncology Inc	$0	–	-50,000	–	-0.86%	–
IMMU	Exit	Immunomedics Inc	$0	–	-425,330	–	-0.89%	–
ABC	Exit	AmerisourceBergen Corp	$0	–	-101,520	–	-0.94%	–
FLXN	Exit	Flexion Therapeutics Inc	$0	–	-532,812	–	-1.00%	–
NBIX	Exit	Neurocrine Biosciences Inc	$0	–	-81,677	–	-1.01%	–
AET	Exit	Aetna Inc	$0	–	-50,000	–	-1.02%	–
WBA	Exit	Walgreens Boots Alliance Inc	$0	–	-145,000	–	-1.06%	–
BIIB	Exit	Biogen Inc	$0	–	-30,000	–	-1.06%	–
AERI	Exit	Aerie Pharmaceuticals Inc	$0	–	-180,000	–	-1.11%	–
AGIO	Exit	Agios Pharmaceuticals Inc	$0	–	-145,428	–	-1.12%	–
ARRY	Exit	Array BioPharma Inc	$0	–	-768,370	–	-1.17%	–
LIVN	Exit	Livanova Plc	$0	–	-95,000	–	-1.18%	–
MYOK	Exit	MyoKardia Inc Reg	$0	–	-188,272	–	-1.23%	–
ABBV	Exit	AbbVie Inc	$0	–	-130,000	–	-1.23%	–
ALKS	Exit	Alkermes Plc	$0	–	-301,610	–	-1.28%	–
BSX	Exit	Boston Scientific Corp	$0	–	-337,968	–	-1.30%	–
AGN	Exit	Allergan Plc	$0	–	-70,045	–	-1.34%	–
SGEN	Exit	Seattle Genetics Inc Reg	$0	–	-180,000	–	-1.39%	–
ITCI	Exit	Intra-Cellular Therapies Inc	$0	–	-654,982	–	-1.42%	–
IOVA	Exit	Iovance Biotherapeutics Inc Reg	$0	–	-1,290,495	–	-1.46%	–
GILD	Exit	Gilead Sciences Inc	$0	–	-189,647	–	-1.47%	–
ALNY	Exit	Alnylam Pharmaceuticals Inc	$0	–	-171,950	–	-1.51%	–
FGEN	Exit	FibroGen Inc	$0	–	-251,190	–	-1.53%	–
ESPR	Exit	Esperion Therapeutics Inc	$0	–	-353,961	–	-1.57%	–
CELG	Exit	Celgene Corp	$0	–	-180,698	–	-1.62%	–
EW	Exit	Edwards Lifesciences Corp	$0	–	-96,585	–	-1.68%	–
ARNA	Exit	Arena Pharmaceuticals Inc Reg	$0	–	-366,387	–	-1.69%	–
SAGE	Exit	Sage Therapeutics Inc	$0	–	-124,739	–	-1.76%	–
HUM	Exit	Humana Inc	$0	–	-53,000	–	-1.80%	–
HZNP	Exit	Horizon Pharma Plc	$0	–	-917,051	–	-1.80%	–
LLY	Exit	Eli Lilly & Co	$0	–	-170,000	–	-1.83%	–
GKOS	Exit	Glaukos Corp	$0	–	-281,279	–	-1.83%	–
NKTR	Exit	Nektar Therapeutics	$0	–	-305,393	–	-1.86%	–
ANTM	Exit	Anthem Inc	$0	–	-70,000	–	-1.92%	–
ABT	Exit	Abbott Laboratories	$0	–	-264,552	–	-1.94%	–
SGMO	Exit	Sangamo Therapeutics Inc Reg	$0	–	-1,197,357	–	-2.03%	–
BMY	Exit	Bristol Myers Squibb Co	$0	–	-330,000	–	-2.05%	–
BDX	Exit	Becton Dickinson & Co	$0	–	-80,000	–	-2.09%	–
NVCR	Exit	NovoCure Ltd Reg	$0	–	-400,000	–	-2.10%	–
JAZZ	Exit	Jazz Pharmaceuticals Plc	$0	–	-126,322	–	-2.13%	–
EXEL	Exit	Exelixis Inc	$0	–	-1,261,414	–	-2.24%	–
DPLO	Exit	Diplomat Pharmacy Inc Reg	$0	–	-1,174,411	–	-2.28%	–
UNH	Exit	United Health Group Inc	$0	–	-91,000	–	-2.43%	–
MDT	Exit	Medtronic Plc Reg	$0	–	-249,874	–	-2.46%	–
ABMD	Exit	Abiomed Inc	$0	–	-55,701	–	-2.51%	–
BMRN	Exit	BioMarin Pharmaceutical Inc	$0	–	-264,849	–	-2.57%	–
INCY	Exit	Incyte Corp Ltd	$0	–	-376,916	–	-2.61%	–
VRTX	Exit	Vertex Pharmaceuticals Inc	$0	–	-142,465	–	-2.75%	–
ALXN	Exit	Alexion Pharmaceuticals Inc	$0	–	-243,329	–	-3.39%	–
CVS	Exit	CVS Health Corp	$0	–	-438,868	–	-3.46%	–
CI	Exit	Cigna Corp	$0	–	-174,691	–	-3.64%	–

Q3 2018

			Value		Shares		↓ Weighting
CI	Buy	Cigna Corp	$36,379,000	+64.2%	174,691	+34.0%	3.64%	+60.7%
CVS	Buy	CVS Health Corp	$34,548,000	+43.6%	438,868	+17.4%	3.46%	+40.6%
ALXN	Buy	Alexion Pharmaceuticals Inc	$33,825,000	+42.0%	243,329	+26.8%	3.39%	+39.0%
VRTX	Sell	Vertex Pharmaceuticals Inc	$27,459,000	+4.2%	142,465	-8.1%	2.75%	+2.0%
INCY	Sell	Incyte Corp Ltd	$26,037,000	+1.3%	376,916	-1.8%	2.61%	-0.8%
BMRN	Buy	BioMarin Pharmaceutical Inc	$25,682,000	+13.7%	264,849	+10.4%	2.57%	+11.3%
ABMD	Sell	Abiomed Inc	$25,052,000	+1.4%	55,701	-7.8%	2.51%	-0.8%
MDT	Sell	Medtronic Plc Reg	$24,580,000	+2.6%	249,874	-10.7%	2.46%	+0.4%
UNH	Sell	United Health Group Inc	$24,210,000	+2.8%	91,000	-5.2%	2.43%	+0.7%
DPLO	Buy	Diplomat Pharmacy Inc Reg	$22,795,000	+526.4%	1,174,411	+724.9%	2.28%	+514.0%
EXEL	Buy	Exelixis Inc	$22,352,000	+10.4%	1,261,414	+34.0%	2.24%	+8.1%
JAZZ	Sell	Jazz Pharmaceuticals Plc	$21,239,000	-4.0%	126,322	-1.6%	2.13%	-6.0%
NVCR	Sell	NovoCure Ltd Reg	$20,960,000	+48.8%	400,000	-11.1%	2.10%	+45.6%
BDX	Sell	Becton Dickinson & Co	$20,880,000	+2.5%	80,000	-5.9%	2.09%	+0.4%
BMY	Sell	Bristol Myers Squibb Co	$20,486,000	-15.9%	330,000	-25.0%	2.05%	-17.6%
SGMO	Buy	Sangamo Therapeutics Inc Reg	$20,295,000	+35.9%	1,197,357	+13.8%	2.03%	+33.0%
ABT	Buy	Abbott Laboratories	$19,408,000	+50.1%	264,552	+24.8%	1.94%	+47.0%
ANTM	Sell	Anthem Inc	$19,184,000	+6.0%	70,000	-7.9%	1.92%	+3.8%
NKTR	Sell	Nektar Therapeutics	$18,617,000	-38.3%	305,393	-50.6%	1.86%	-39.6%
GKOS	Sell	Glaukos Corp	$18,255,000	+24.8%	281,279	-21.9%	1.83%	+22.2%
LLY	Sell	Eli Lilly & Co	$18,243,000	+6.9%	170,000	-15.0%	1.83%	+4.6%
HZNP	Sell	Horizon Pharma Plc	$17,956,000	-33.6%	917,051	-43.8%	1.80%	-35.0%
HUM	Sell	Humana Inc	$17,942,000	-17.4%	53,000	-27.4%	1.80%	-19.2%
SAGE	Sell	Sage Therapeutics Inc	$17,619,000	-13.2%	124,739	-3.8%	1.76%	-15.0%
ARNA	Buy	Arena Pharmaceuticals Inc Reg	$16,861,000	+35.9%	366,387	+28.7%	1.69%	+33.1%
EW	Buy	Edwards Lifesciences Corp	$16,815,000	+69.0%	96,585	+41.3%	1.68%	+65.4%
CELG	Sell	Celgene Corp	$16,171,000	-3.4%	180,698	-14.2%	1.62%	-5.4%
ESPR	Sell	Esperion Therapeutics Inc	$15,705,000	-1.4%	353,961	-12.9%	1.57%	-3.4%
FGEN	Buy	FibroGen Inc	$15,260,000	+1.8%	251,190	+4.9%	1.53%	-0.4%
ALNY	Buy	Alnylam Pharmaceuticals Inc	$15,049,000	+34.1%	171,950	+50.9%	1.51%	+31.2%
GILD	Sell	Gilead Sciences Inc	$14,643,000	-21.1%	189,647	-27.6%	1.47%	-22.8%
IOVA	Buy	Iovance Biotherapeutics Inc Reg	$14,518,000	+33.8%	1,290,495	+52.3%	1.46%	+31.1%
ITCI	Sell	Intra-Cellular Therapies Inc	$14,213,000	+15.4%	654,982	-6.0%	1.42%	+13.0%
SGEN	Sell	Seattle Genetics Inc Reg	$13,882,000	-9.1%	180,000	-21.7%	1.39%	-11.0%
AGN	Sell	Allergan Plc	$13,342,000	-36.0%	70,045	-44.0%	1.34%	-37.3%
BSX	Sell	Boston Scientific Corp	$13,012,000	+14.4%	337,968	-2.9%	1.30%	+11.9%
ALKS	Buy	Alkermes Plc	$12,800,000	+7.2%	301,610	+4.0%	1.28%	+5.0%
ABBV	Buy	AbbVie Inc	$12,295,000	+89.6%	130,000	+85.7%	1.23%	+85.5%
MYOK	Sell	MyoKardia Inc Reg	$12,275,000	+24.7%	188,272	-5.0%	1.23%	+22.1%
LIVN	Buy	Livanova Plc	$11,777,000	+38.8%	95,000	+11.8%	1.18%	+35.9%
ARRY	Buy	Array BioPharma Inc	$11,679,000	-3.8%	768,370	+6.2%	1.17%	-5.8%
AGIO	Sell	Agios Pharmaceuticals Inc	$11,215,000	-17.0%	145,428	-9.3%	1.12%	-18.7%
AERI	Buy	Aerie Pharmaceuticals Inc	$11,079,000	+134.3%	180,000	+157.1%	1.11%	+129.3%
BIIB	Buy	Biogen Inc	$10,599,000	+180.9%	30,000	+130.8%	1.06%	+175.1%
WBA	Sell	Walgreens Boots Alliance Inc	$10,571,000	-46.6%	145,000	-56.1%	1.06%	-47.8%
AET	Sell	Aetna Inc	$10,143,000	-21.0%	50,000	-28.6%	1.02%	-22.7%
NBIX	Sell	Neurocrine Biosciences Inc	$10,042,000	-7.4%	81,677	-26.0%	1.01%	-9.4%
FLXN	Buy	Flexion Therapeutics Inc	$9,969,000	+9.6%	532,812	+51.5%	1.00%	+7.3%
ABC	Sell	AmerisourceBergen Corp	$9,362,000	-11.6%	101,520	-18.3%	0.94%	-13.5%
IMMU	Sell	Immunomedics Inc	$8,860,000	-17.8%	425,330	-6.6%	0.89%	-19.5%
LOXO	Sell	Loxo Oncology Inc	$8,542,000	-60.0%	50,000	-59.3%	0.86%	-60.8%
XNCR	Sell	Xencor Inc	$8,178,000	+2.1%	209,854	-3.0%	0.82%	-0.1%
ONCE	Sell	Spark Therapeutics Inc	$7,511,000	-48.9%	137,691	-22.5%	0.75%	-49.9%
MGNX	Buy	Macrogenics Inc	$7,324,000	+9.1%	341,586	+5.1%	0.73%	+6.8%
OMCL	Sell	Omnicell Inc	$7,217,000	+24.7%	100,375	-9.1%	0.72%	+22.1%
RIGL	Buy	Rigel Pharmaceuticals Inc	$6,786,000	+40.8%	2,113,988	+24.1%	0.68%	+37.9%
PTLA	Sell	Portola Pharmaceuticals Inc	$6,453,000	-51.5%	242,302	-31.2%	0.65%	-52.5%
MD	New	Mednax Inc	$5,817,000	–	124,674	–	0.58%	–
CNC	Sell	Centene Corp	$5,791,000	-27.7%	40,000	-38.5%	0.58%	-29.3%
ADMS	Sell	Adamas Pharmaceuticals Inc	$5,477,000	-35.4%	273,593	-16.6%	0.55%	-36.8%
CHRS	Sell	Coherus BioSciences Inc	$5,464,000	+11.5%	331,131	-5.4%	0.55%	+9.4%
MDCO	Buy	Medicines Co	$4,038,000	+0.0%	135,000	+22.7%	0.40%	-1.9%
ZGNX	Buy	Zogenix Inc Reg	$2,976,000	+34.7%	60,000	+20.0%	0.30%	+31.9%
CMRX	Sell	Chimerix Inc	$1,328,000	-18.4%	341,300	-0.2%	0.13%	-20.4%
PDCO	New	Patterson Companies Inc	$941,000	–	38,500	–	0.09%	–
XOM	Sell	Exxon Mobil Corp	$520,000	-7.6%	6,111	-10.2%	0.05%	-10.3%
QCOM	Sell	Qualcomm Inc	$466,000	+14.5%	6,476	-10.6%	0.05%	+11.9%
JPM	Sell	JPMorgan Chase & Co	$420,000	-4.8%	3,726	-12.0%	0.04%	-6.7%
SYMC	Sell	Symantec Corp	$207,000	-20.7%	9,734	-23.0%	0.02%	-22.2%
ACAD	Exit	Acadia Pharmaceuticals Inc	$0	–	-220,000	–	-0.34%	–
JNJ	Exit	Johnson & Johnson	$0	–	-60,000	–	-0.74%	–
ESRX	Exit	Express Scripts Hg Co	$0	–	-295,000	–	-2.33%	–

Q2 2018

			Value		Shares		↓ Weighting
NKTR	New	Nektar Therapeutics	$30,160,000	–	617,652	–	3.09%	–
HZNP	New	Horizon Pharma Plc	$27,029,000	–	1,632,212	–	2.77%	–
VRTX	New	Vertex Pharmaceuticals Inc	$26,344,000	–	155,000	–	2.70%	–
INCY	New	Incyte Corp Ltd	$25,712,000	–	383,763	–	2.63%	–
ABMD	New	Abiomed Inc	$24,707,000	–	60,400	–	2.53%	–
BMY	New	Bristol Myers Squibb Co	$24,350,000	–	440,000	–	2.49%	–
CVS	New	CVS Health Corp	$24,058,000	–	373,868	–	2.46%	–
MDT	New	Medtronic Plc Reg	$23,960,000	–	279,874	–	2.45%	–
ALXN	New	Alexion Pharmaceuticals Inc	$23,820,000	–	191,863	–	2.44%	–
UNH	New	United Health Group Inc	$23,553,000	–	96,000	–	2.41%	–
ESRX	New	Express Scripts Hg Co	$22,777,000	–	295,000	–	2.33%	–
BMRN	New	BioMarin Pharmaceutical Inc	$22,594,000	–	239,849	–	2.31%	–
CI	New	Cigna Corp	$22,161,000	–	130,400	–	2.27%	–
JAZZ	New	Jazz Pharmaceuticals Plc	$22,130,000	–	128,436	–	2.26%	–
HUM	New	Humana Inc	$21,727,000	–	73,000	–	2.22%	–
LOXO	New	Loxo Oncology Inc	$21,331,000	–	122,961	–	2.18%	–
AGN	New	Allergan Plc	$20,848,000	–	125,045	–	2.13%	–
BDX	New	Becton Dickinson & Co	$20,363,000	–	85,000	–	2.08%	–
SAGE	New	Sage Therapeutics Inc	$20,299,000	–	129,679	–	2.08%	–
EXEL	New	Exelixis Inc	$20,255,000	–	941,214	–	2.07%	–
WBA	New	Walgreens Boots Alliance Inc	$19,805,000	–	330,000	–	2.03%	–
GILD	New	Gilead Sciences Inc	$18,562,000	–	262,027	–	1.90%	–
ANTM	New	Anthem Inc	$18,090,000	–	76,000	–	1.85%	–
LLY	New	Eli Lilly & Co	$17,066,000	–	200,000	–	1.75%	–
CELG	New	Celgene Corp	$16,734,000	–	210,698	–	1.71%	–
ESPR	New	Esperion Therapeutics Inc	$15,925,000	–	406,361	–	1.63%	–
SGEN	New	Seattle Genetics Inc Reg	$15,270,000	–	230,000	–	1.56%	–
FGEN	New	FibroGen Inc	$14,996,000	–	239,547	–	1.54%	–
SGMO	New	Sangamo Therapeutics Inc Reg	$14,937,000	–	1,051,933	–	1.53%	–
ONCE	New	Spark Therapeutics Inc	$14,698,000	–	177,600	–	1.50%	–
GKOS	New	Glaukos Corp	$14,630,000	–	360,000	–	1.50%	–
NVCR	New	NovoCure Ltd Reg	$14,085,000	–	450,000	–	1.44%	–
AGIO	New	Agios Pharmaceuticals Inc	$13,513,000	–	160,428	–	1.38%	–
PTLA	New	Portola Pharmaceuticals Inc	$13,306,000	–	352,302	–	1.36%	–
ABT	New	Abbott Laboratories	$12,930,000	–	212,000	–	1.32%	–
AET	New	Aetna Inc	$12,845,000	–	70,000	–	1.32%	–
ARNA	New	Arena Pharmaceuticals Inc Reg	$12,409,000	–	284,621	–	1.27%	–
ITCI	New	Intra-Cellular Therapies Inc	$12,315,000	–	696,957	–	1.26%	–
ARRY	New	Array BioPharma Inc	$12,138,000	–	723,370	–	1.24%	–
ALKS	New	Alkermes Plc	$11,936,000	–	290,000	–	1.22%	–
BSX	New	Boston Scientific Corp	$11,379,000	–	347,968	–	1.16%	–
ALNY	New	Alnylam Pharmaceuticals Inc	$11,225,000	–	113,967	–	1.15%	–
IOVA	New	Iovance Biotherapeutics Inc Reg	$10,848,000	–	847,476	–	1.11%	–
NBIX	New	Neurocrine Biosciences Inc	$10,843,000	–	110,377	–	1.11%	–
IMMU	New	Immunomedics Inc	$10,778,000	–	455,330	–	1.10%	–
ABC	New	AmerisourceBergen Corp	$10,596,000	–	124,261	–	1.08%	–
EW	New	Edwards Lifesciences Corp	$9,952,000	–	68,364	–	1.02%	–
MYOK	New	MyoKardia Inc Reg	$9,844,000	–	198,272	–	1.01%	–
FLXN	New	Flexion Therapeutics Inc	$9,094,000	–	351,786	–	0.93%	–
LIVN	New	Livanova Plc	$8,485,000	–	85,000	–	0.87%	–
ADMS	New	Adamas Pharmaceuticals Inc	$8,477,000	–	328,193	–	0.87%	–
CNC	New	Centene Corp	$8,009,000	–	65,000	–	0.82%	–
XNCR	New	Xencor Inc	$8,011,000	–	216,443	–	0.82%	–
JNJ	New	Johnson & Johnson	$7,280,000	–	60,000	–	0.74%	–
MGNX	New	Macrogenics Inc	$6,711,000	–	325,000	–	0.69%	–
ABBV	New	AbbVie Inc	$6,486,000	–	70,000	–	0.66%	–
REGN	New	Regeneron Pharmaceuticals Inc	$5,865,000	–	17,000	–	0.60%	–
OMCL	New	Omnicell Inc	$5,789,000	–	110,375	–	0.59%	–
RVNC	New	Revance Therapeutics Inc	$5,577,000	–	203,181	–	0.57%	–
CHRS	New	Coherus BioSciences Inc	$4,900,000	–	350,000	–	0.50%	–
RIGL	New	Rigel Pharmaceuticals Inc	$4,820,000	–	1,703,278	–	0.49%	–
AERI	New	Aerie Pharmaceuticals Inc	$4,729,000	–	70,000	–	0.48%	–
MDCO	New	Medicines Co	$4,037,000	–	110,000	–	0.41%	–
BIIB	New	Biogen Inc	$3,773,000	–	13,000	–	0.39%	–
DPLO	New	Diplomat Pharmacy Inc Reg	$3,639,000	–	142,364	–	0.37%	–
VRAY	New	ViewRay Inc Reg	$3,575,000	–	516,623	–	0.37%	–
ACAD	New	Acadia Pharmaceuticals Inc	$3,359,000	–	220,000	–	0.34%	–
ZGNX	New	Zogenix Inc Reg	$2,210,000	–	50,000	–	0.23%	–
ACHN	New	Achillion Pharmaceuticals Inc	$1,748,000	–	617,800	–	0.18%	–
CMRX	New	Chimerix Inc	$1,628,000	–	342,000	–	0.17%	–
PIRS	New	Pieris Pharmaceuticals Inc Reg	$1,521,000	–	300,000	–	0.16%	–
SNSS	New	Sunesis Pharmaceuticals Inc Reg	$907,000	–	427,642	–	0.09%	–
ADVM	New	Adverum Biotechnologies Inc	$816,000	–	153,965	–	0.08%	–
XOM	New	Exxon Mobil Corp	$563,000	–	6,804	–	0.06%	–
CVX	New	Chevron Corp	$472,000	–	3,733	–	0.05%	–
JPM	New	JPMorgan Chase & Co	$441,000	–	4,235	–	0.04%	–
QCOM	New	Qualcomm Inc	$407,000	–	7,247	–	0.04%	–
HAL	New	Halliburton Co (Hg Co)	$415,000	–	9,221	–	0.04%	–
BUD	New	Anheuser-Busch InBev SA ADR spons repr 1 Sharesponsored adr	$382,000	–	3,788	–	0.04%	–
JHG	New	Janus Henderson Group Plc Reg	$363,000	–	11,828	–	0.04%	–
DIS	New	Walt Disney Co (The)	$365,000	–	3,483	–	0.04%	–
F	New	Ford Motor Co	$359,000	–	32,405	–	0.04%	–
IBM	New	IBM Corp	$344,000	–	2,461	–	0.04%	–
WFC	New	Wells Fargo & Co	$325,000	–	5,858	–	0.03%	–
RGLS	New	Regulus Therapeutic Inc	$325,000	–	492,878	–	0.03%	–
PFE	New	Pfizer Inc	$318,000	–	8,754	–	0.03%	–
MSFT	New	Microsoft Corp	$285,000	–	2,887	–	0.03%	–
SYMC	New	Symantec Corp	$261,000	–	12,635	–	0.03%	–
GOOGL	New	Alphabet Inc Acap stk cl a	$201,000	–	178	–	0.02%	–

Q4 2017

			Value		Shares		↓ Weighting
IBM	Exit	IBM Corp	$0	–	-1,766	–	-0.03%	–
QCOM	Exit	Qualcomm Inc	$0	–	-5,368	–	-0.04%	–
SYMC	Exit	Symantec Corp	$0	–	-9,359	–	-0.04%	–
F	Exit	Ford Motor Co	$0	–	-28,404	–	-0.04%	–
BUD	Exit	Anheuser-Busch InBev SA ADR spons repr 1 Shareadr	$0	–	-2,806	–	-0.04%	–
MSFT	Exit	Microsoft Corp	$0	–	-4,793	–	-0.05%	–
PFE	Exit	Pfizer Inc	$0	–	-10,422	–	-0.05%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-5,696	–	-0.06%	–
	Exit	Janus Henderson Group Plc Regnote	$0	–	-13,556	–	-0.06%	–
WFC	Exit	Wells Fargo & Co	$0	–	-8,653	–	-0.06%	–
HAL	Exit	Halliburton Co (Hg Co)	$0	–	-11,144	–	-0.06%	–
JPM	Exit	JPMorgan Chase & Co	$0	–	-5,641	–	-0.07%	–
ADVM	Exit	Adverum Biotechnologies Inc	$0	–	-154,006	–	-0.07%	–
RGLS	Exit	Regulus Therapeutic Inc	$0	–	-580,000	–	-0.09%	–
AGIO	Exit	Agios Pharmaceuticals Inc	$0	–	-15,000	–	-0.13%	–
NLNK	Exit	NewLink Genetics Corp	$0	–	-100,000	–	-0.13%	–
STAA	Exit	Staar Surgical Co	$0	–	-90,000	–	-0.14%	–
RARX	Exit	Ra Pharmaceuticals Inc Reg	$0	–	-119,697	–	-0.22%	–
BIVV	Exit	Bioverativ Inc Reg S	$0	–	-35,000	–	-0.26%	–
CMRX	Exit	Chimerix Inc	$0	–	-400,000	–	-0.27%	–
ICPT	Exit	Intercept Pharmaceuticals Inc	$0	–	-40,000	–	-0.30%	–
CHRS	Exit	Coherus BioSciences Inc	$0	–	-180,000	–	-0.31%	–
DERM	Exit	Dermira Inc Reg	$0	–	-100,000	–	-0.34%	–
KERX	Exit	Keryx Biopharmaceuticals Inc	$0	–	-400,000	–	-0.36%	–
SAGE	Exit	Sage Therapeutics Inc	$0	–	-50,000	–	-0.40%	–
RDUS	Exit	Radius Health Inc	$0	–	-90,000	–	-0.44%	–
ACHN	Exit	Achillion Pharmaceuticals Inc	$0	–	-850,000	–	-0.49%	–
NVO	Exit	Novo Nordisk AS ADR Repr 1 Share Badr	$0	–	-80,000	–	-0.49%	–
HCA	Exit	HCA Healthcare Inc	$0	–	-50,000	–	-0.51%	–
RAD	Exit	Rite Aid Corp	$0	–	-2,039,000	–	-0.51%	–
OMCL	Exit	Omnicell Inc	$0	–	-80,000	–	-0.52%	–
MGNX	Exit	Macrogenics Inc	$0	–	-221,914	–	-0.52%	–
JUNO	Exit	Juno Therapeutics Inc	$0	–	-100,000	–	-0.57%	–
EPZM	Exit	Epizyme Inc	$0	–	-236,293	–	-0.58%	–
ALNY	Exit	Alnylam Pharmaceuticals Inc	$0	–	-42,793	–	-0.64%	–
RARE	Exit	Ultragenyx Pharmaceutical Inc	$0	–	-100,000	–	-0.68%	–
WBA	Exit	Walgreens Boots Alliance Inc	$0	–	-70,000	–	-0.69%	–
IOVA	Exit	Iovance Biotherapeutics Inc Reg	$0	–	-711,163	–	-0.70%	–
UHS	Exit	Universal Health Services Inc Bcl b	$0	–	-50,000	–	-0.71%	–
XNCR	Exit	Xencor Inc	$0	–	-250,000	–	-0.73%	–
MRK	Exit	Merck & Co Inc	$0	–	-90,000	–	-0.74%	–
DXCM	Exit	Dexcom Inc	$0	–	-120,000	–	-0.75%	–
AERI	Exit	Aerie Pharmaceuticals Inc	$0	–	-120,932	–	-0.75%	–
RIGL	Exit	Rigel Pharmaceuticals Inc	$0	–	-2,350,000	–	-0.76%	–
MYOK	Exit	MyoKardia Inc Reg	$0	–	-150,872	–	-0.82%	–
SNY	Exit	Sanofi spons ADR repr 0.5 Shareadr	$0	–	-130,000	–	-0.83%	–
ABC	Exit	AmerisourceBergen Corp	$0	–	-80,000	–	-0.84%	–
ELGX	Exit	Endologix Inc	$0	–	-1,492,600	–	-0.85%	–
LIVN	Exit	Livanova Plc	$0	–	-95,000	–	-0.85%	–
RVNC	Exit	Revance Therapeutics Inc	$0	–	-246,400	–	-0.87%	–
BIIB	Exit	Biogen Inc	$0	–	-22,000	–	-0.88%	–
LOXO	Exit	Loxo Oncology Inc	$0	–	-75,000	–	-0.88%	–
IMMU	Exit	Immunomedics Inc	$0	–	-500,000	–	-0.89%	–
NBIX	Exit	Neurocrine Biosciences Inc	$0	–	-115,000	–	-0.90%	–
ALKS	Exit	Alkermes Plc	$0	–	-145,000	–	-0.94%	–
FGEN	Exit	FibroGen Inc	$0	–	-145,500	–	-1.00%	–
ARRY	Exit	Array BioPharma Inc	$0	–	-650,000	–	-1.02%	–
DVAX	Exit	Dynavax Technologies Corp	$0	–	-374,537	–	-1.03%	–
BSX	Exit	Boston Scientific Corp	$0	–	-280,468	–	-1.04%	–
ABT	Exit	Abbott Laboratories	$0	–	-155,000	–	-1.06%	–
EW	Exit	Edwards Lifesciences Corp	$0	–	-80,000	–	-1.12%	–
LLY	Exit	Eli Lilly & Co	$0	–	-110,000	–	-1.20%	–
CVS	Exit	CVS Health Corp	$0	–	-120,000	–	-1.25%	–
REGN	Exit	Regeneron Pharmaceuticals Inc	$0	–	-22,000	–	-1.26%	–
AET	Exit	Aetna Inc	$0	–	-62,000	–	-1.26%	–
HUM	Exit	Humana Inc	$0	–	-41,000	–	-1.28%	–
BMY	Exit	Bristol Myers Squibb Co	$0	–	-160,502	–	-1.31%	–
CI	Exit	Cigna Corp	$0	–	-55,000	–	-1.31%	–
ANTM	Exit	Anthem Inc	$0	–	-55,000	–	-1.33%	–
CNC	Exit	Centene Corp	$0	–	-110,000	–	-1.36%	–
NVRO	Exit	Nevro Corp	$0	–	-130,000	–	-1.51%	–
JAZZ	Exit	Jazz Pharmaceuticals Plc	$0	–	-85,000	–	-1.59%	–
ABBV	Exit	AbbVie Inc	$0	–	-140,000	–	-1.59%	–
GILD	Exit	Gilead Sciences Inc	$0	–	-155,551	–	-1.61%	–
NVCR	Exit	NovoCure Ltd Reg	$0	–	-666,528	–	-1.69%	–
INCY	Exit	Incyte Corp Ltd	$0	–	-115,000	–	-1.71%	–
ARNA	Exit	Arena Pharmaceuticals Inc Reg	$0	–	-569,491	–	-1.85%	–
ESRX	Exit	Express Scripts Hg Co	$0	–	-245,000	–	-1.98%	–
ESPR	Exit	Esperion Therapeutics Inc	$0	–	-311,803	–	-2.00%	–
PTLA	Exit	Portola Pharmaceuticals Inc	$0	–	-297,400	–	-2.05%	–
UNH	Exit	United Health Group Inc	$0	–	-85,000	–	-2.12%	–
MDT	Exit	Medtronic Plc	$0	–	-214,115	–	-2.13%	–
BMRN	Exit	BioMarin Pharmaceutical Inc	$0	–	-179,949	–	-2.14%	–
ITCI	Exit	Intra-Cellular Therapies Inc	$0	–	-1,179,900	–	-2.38%	–
ADMS	Exit	Adamas Pharmaceuticals Inc	$0	–	-915,000	–	-2.47%	–
AGN	Exit	Allergan Plc	$0	–	-100,000	–	-2.62%	–
NKTR	Exit	Nektar Therapeutics	$0	–	-866,194	–	-2.65%	–
GKOS	Exit	Glaukos Corp	$0	–	-647,796	–	-2.73%	–
CELG	Exit	Celgene Corp	$0	–	-152,000	–	-2.83%	–
ALXN	Exit	Alexion Pharmaceuticals Inc	$0	–	-165,000	–	-2.96%	–
ABMD	Exit	Abiomed Inc	$0	–	-140,238	–	-3.02%	–
EXEL	Exit	Exelixis Inc	$0	–	-1,050,000	–	-3.25%	–
VRTX	Exit	Vertex Pharmaceuticals Inc	$0	–	-180,000	–	-3.49%	–
HZNP	Exit	Horizon Pharma Plc	$0	–	-3,006,862	–	-4.87%	–

Q3 2017

			Value		Shares		↓ Weighting
HZNP	Buy	Horizon Pharma Plc	$38,127,000	+32.6%	3,006,862	+24.1%	4.87%	+17.9%
VRTX	Buy	Vertex Pharmaceuticals Inc	$27,367,000	+123.5%	180,000	+89.4%	3.49%	+98.7%
ABMD	Buy	Abiomed Inc	$23,644,000	+55.4%	140,238	+32.1%	3.02%	+38.2%
ALXN	Buy	Alexion Pharmaceuticals Inc	$23,148,000	+23.5%	165,000	+7.1%	2.96%	+9.9%
CELG	Buy	Celgene Corp	$22,165,000	+20.2%	152,000	+7.0%	2.83%	+6.9%
GKOS	Buy	Glaukos Corp	$21,377,000	+49.2%	647,796	+87.5%	2.73%	+32.7%
NKTR	Buy	Nektar Therapeutics	$20,789,000	+33.8%	866,194	+9.0%	2.65%	+18.9%
AGN	Buy	Allergan Plc	$20,495,000	+62.1%	100,000	+92.3%	2.62%	+44.1%
ADMS	Buy	Adamas Pharmaceuticals Inc	$19,371,000	+200.8%	915,000	+148.5%	2.47%	+167.4%
ITCI	Buy	Intra-Cellular Therapies Inc	$18,619,000	+79.9%	1,179,900	+41.6%	2.38%	+60.0%
BMRN	Sell	BioMarin Pharmaceutical Inc	$16,748,000	-2.6%	179,949	-4.9%	2.14%	-13.4%
MDT	Buy	Medtronic Plc	$16,652,000	-1.8%	214,115	+12.0%	2.13%	-12.7%
UNH	Sell	United Health Group Inc	$16,647,000	-0.2%	85,000	-5.6%	2.12%	-11.3%
PTLA	Buy	Portola Pharmaceuticals Inc	$16,069,000	+158.2%	297,400	+168.4%	2.05%	+129.4%
ESPR	Sell	Esperion Therapeutics Inc	$15,628,000	-7.1%	311,803	-14.2%	2.00%	-17.4%
ESRX	Buy	Express Scripts Hg Co	$15,513,000	+55.8%	245,000	+57.1%	1.98%	+38.5%
ARNA	New	Arena Pharmaceuticals Inc Reg	$14,522,000	–	569,491	–	1.85%	–
INCY	Sell	Incyte Corp Ltd	$13,425,000	-23.9%	115,000	-17.9%	1.71%	-32.3%
NVCR	Sell	NovoCure Ltd Reg	$13,231,000	-37.1%	666,528	-45.2%	1.69%	-44.1%
GILD	Sell	Gilead Sciences Inc	$12,603,000	-30.7%	155,551	-39.5%	1.61%	-38.4%
ABBV	Buy	AbbVie Inc	$12,440,000	+27.1%	140,000	+3.7%	1.59%	+12.9%
JAZZ	Sell	Jazz Pharmaceuticals Plc	$12,431,000	-6.0%	85,000	-0.0%	1.59%	-16.4%
NVRO	Sell	Nevro Corp	$11,814,000	+2.3%	130,000	-16.2%	1.51%	-9.0%
CNC	Buy	Centene Corp	$10,645,000	+33.3%	110,000	+10.0%	1.36%	+18.5%
ANTM	Buy	Anthem Inc	$10,443,000	+109.7%	55,000	+107.8%	1.33%	+86.4%
CI	Buy	Cigna Corp	$10,282,000	+36.5%	55,000	+22.2%	1.31%	+21.3%
BMY	Buy	Bristol Myers Squibb Co	$10,230,000	+61.6%	160,502	+41.3%	1.31%	+43.7%
HUM	Buy	Humana Inc	$9,989,000	+18.6%	41,000	+17.1%	1.28%	+5.5%
AET	Buy	Aetna Inc	$9,859,000	+75.5%	62,000	+67.6%	1.26%	+56.0%
REGN	Buy	Regeneron Pharmaceuticals Inc	$9,837,000	+32.6%	22,000	+45.7%	1.26%	+17.9%
CVS	Buy	CVS Health Corp	$9,758,000	+42.7%	120,000	+41.2%	1.25%	+26.9%
LLY	Sell	Eli Lilly & Co	$9,409,000	-23.8%	110,000	-26.7%	1.20%	-32.2%
EW	Buy	Edwards Lifesciences Corp	$8,745,000	+124.1%	80,000	+142.4%	1.12%	+99.3%
ABT	Buy	Abbott Laboratories	$8,271,000	+79.1%	155,000	+63.2%	1.06%	+59.3%
BSX	New	Boston Scientific Corp	$8,181,000	–	280,468	–	1.04%	–
DVAX	Sell	Dynavax Technologies Corp	$8,053,000	+42.1%	374,537	-36.2%	1.03%	+26.3%
ARRY	Buy	Array BioPharma Inc	$7,995,000	+124.8%	650,000	+52.9%	1.02%	+99.8%
FGEN	Sell	FibroGen Inc	$7,828,000	+57.0%	145,500	-5.7%	1.00%	+39.5%
ALKS	Buy	Alkermes Plc	$7,372,000	-6.1%	145,000	+7.1%	0.94%	-16.5%
NBIX	Sell	Neurocrine Biosciences Inc	$7,047,000	+27.7%	115,000	-4.2%	0.90%	+13.5%
IMMU	Sell	Immunomedics Inc	$6,990,000	+49.5%	500,000	-5.6%	0.89%	+32.9%
LOXO	New	Loxo Oncology Inc	$6,909,000	–	75,000	–	0.88%	–
BIIB	Sell	Biogen Inc	$6,889,000	-47.7%	22,000	-54.6%	0.88%	-53.5%
RVNC	Buy	Revance Therapeutics Inc	$6,788,000	+16.9%	246,400	+12.0%	0.87%	+4.0%
LIVN	Sell	Livanova Plc	$6,656,000	+6.8%	95,000	-6.7%	0.85%	-5.0%
ELGX	Sell	Endologix Inc	$6,657,000	-13.0%	1,492,600	-5.2%	0.85%	-22.7%
ABC	Buy	AmerisourceBergen Corp	$6,620,000	+55.6%	80,000	+77.8%	0.84%	+38.3%
SNY	Sell	Sanofi spons ADR repr 0.5 Shareadr	$6,473,000	-15.6%	130,000	-18.8%	0.83%	-25.0%
MYOK	New	MyoKardia Inc Reg	$6,465,000	–	150,872	–	0.82%	–
RIGL	Buy	Rigel Pharmaceuticals Inc	$5,969,000	+58.9%	2,350,000	+70.8%	0.76%	+41.4%
AERI	Buy	Aerie Pharmaceuticals Inc	$5,877,000	+49.1%	120,932	+61.2%	0.75%	+32.5%
DXCM	Buy	Dexcom Inc	$5,871,000	-23.1%	120,000	+15.0%	0.75%	-31.7%
MRK	Sell	Merck & Co Inc	$5,763,000	-35.8%	90,000	-35.7%	0.74%	-42.9%
XNCR	Sell	Xencor Inc	$5,730,000	+4.6%	250,000	-3.7%	0.73%	-7.1%
IOVA	Buy	Iovance Biotherapeutics Inc Reg	$5,512,000	+15.4%	711,163	+9.4%	0.70%	+2.6%
WBA	Sell	Walgreens Boots Alliance Inc	$5,405,000	-31.0%	70,000	-30.0%	0.69%	-38.6%
RARE	Buy	Ultragenyx Pharmaceutical Inc	$5,326,000	+141.1%	100,000	+181.1%	0.68%	+114.5%
ALNY	Sell	Alnylam Pharmaceuticals Inc	$5,028,000	-21.4%	42,793	-46.6%	0.64%	-30.1%
EPZM	Sell	Epizyme Inc	$4,501,000	+18.2%	236,293	-6.3%	0.58%	+5.1%
JUNO	New	Juno Therapeutics Inc	$4,486,000	–	100,000	–	0.57%	–
MGNX	Buy	Macrogenics Inc	$4,101,000	+33.8%	221,914	+26.8%	0.52%	+19.1%
OMCL	Sell	Omnicell Inc	$4,084,000	+0.6%	80,000	-15.1%	0.52%	-10.6%
RAD	Buy	Rite Aid Corp	$3,996,000	+286.8%	2,039,000	+482.6%	0.51%	+244.6%
HCA	Sell	HCA Healthcare Inc	$3,980,000	-51.8%	50,000	-47.2%	0.51%	-57.2%
NVO	New	Novo Nordisk AS ADR Repr 1 Share Badr	$3,852,000	–	80,000	–	0.49%	–
ACHN	Buy	Achillion Pharmaceuticals Inc	$3,817,000	+400.9%	850,000	+412.0%	0.49%	+346.8%
RDUS	Buy	Radius Health Inc	$3,470,000	+2.3%	90,000	+20.0%	0.44%	-9.0%
KERX	Sell	Keryx Biopharmaceuticals Inc	$2,840,000	-7.6%	400,000	-5.9%	0.36%	-17.7%
DERM	New	Dermira Inc Reg	$2,700,000	–	100,000	–	0.34%	–
CHRS	Buy	Coherus BioSciences Inc	$2,403,000	-0.8%	180,000	+6.6%	0.31%	-11.8%
ICPT	Buy	Intercept Pharmaceuticals Inc	$2,322,000	+537.9%	40,000	+1229.8%	0.30%	+469.2%
BIVV	Buy	Bioverativ Inc Reg S	$1,997,000	+7.1%	35,000	+12.9%	0.26%	-4.9%
RARX	New	Ra Pharmaceuticals Inc Reg	$1,748,000	–	119,697	–	0.22%	–
STAA	Buy	Staar Surgical Co	$1,121,000	+48.5%	90,000	+28.7%	0.14%	+32.4%
NLNK	New	NewLink Genetics Corp	$1,018,000	–	100,000	–	0.13%	–
AGIO	New	Agios Pharmaceuticals Inc	$1,001,000	–	15,000	–	0.13%	–
RGLS	Sell	Regulus Therapeutic Inc	$725,000	+23.9%	580,000	-2.3%	0.09%	+10.7%
JPM	Buy	JPMorgan Chase & Co	$539,000	+21.9%	5,641	+16.6%	0.07%	+9.5%
HAL	Buy	Halliburton Co (Hg Co)	$513,000	+55.5%	11,144	+44.4%	0.06%	+38.3%
WFC	Buy	Wells Fargo & Co	$477,000	+17.8%	8,653	+18.5%	0.06%	+5.2%
	New	Janus Henderson Group Plc Regnote	$472,000	–	13,556	–	0.06%	–
XOM	Buy	Exxon Mobil Corp	$467,000	+20.1%	5,696	+18.1%	0.06%	+7.1%
PFE	Sell	Pfizer Inc	$372,000	-97.4%	10,422	-97.6%	0.05%	-97.7%
SYMC	New	Symantec Corp	$307,000	–	9,359	–	0.04%	–
ANTH	Exit	Anthera Pharmaceuticals Inc Reg	$0	–	-25,000	–	-0.01%	–
OPHT	Exit	Ophthotech Corp	$0	–	-23,920	–	-0.01%	–
THLD	Exit	Threshold Pharmaceuticals	$0	–	-201,537	–	-0.01%	–
MRTX	Exit	Mirati Therapeutics Inc	$0	–	-50,000	–	-0.03%	–
TNDM	Exit	Tandem Diabetes Care Inc	$0	–	-234,000	–	-0.03%	–
OREXQ	Exit	Orexigen Therapeutics Inc	$0	–	-120,000	–	-0.05%	–
OCUL	Exit	Ocular Therapeutix Inc	$0	–	-40,000	–	-0.05%	–
CNCE	Exit	Concert Pharm Inc	$0	–	-30,099	–	-0.06%	–
CATB	Exit	Catabasis Pharmaceuticals Inc	$0	–	-310,756	–	-0.06%	–
FWP	Exit	Forward Pharma A/S spons ADS Level III repr 1 Share	$0	–	-36,584	–	-0.11%	–
ACAD	Exit	Acadia Pharmaceuticals Inc	$0	–	-30,000	–	-0.12%	–
SUPN	Exit	Supernus Pharmaceuticals Inc	$0	–	-30,000	–	-0.19%	–
HALO	Exit	Halozyme Therapeutics Inc	$0	–	-120,000	–	-0.22%	–
PODD	Exit	Insulet Corp	$0	–	-35,000	–	-0.26%	–
TTPH	Exit	Tetraphase Pharmaceuticals Inc	$0	–	-300,000	–	-0.31%	–
LH	Exit	Laboratory Corp of America Hgs	$0	–	-20,000	–	-0.44%	–
ENDP	Exit	Endo International Plc	$0	–	-277,303	–	-0.44%	–
HOLX	Exit	Hologic Inc	$0	–	-70,000	–	-0.46%	–
DVA	Exit	DaVita Inc	$0	–	-55,000	–	-0.51%	–
CAH	Exit	Cardinal Health Inc	$0	–	-55,000	–	-0.62%	–
TMO	Exit	Thermo Fisher Scientific Inc	$0	–	-25,000	–	-0.63%	–
NXTM	Exit	NxStage Medical Inc	$0	–	-213,901	–	-0.77%	–
AMGN	Exit	Amgen Inc	$0	–	-35,000	–	-0.86%	–
KITE	Exit	Kite Pharma Inc	$0	–	-60,000	–	-0.89%	–
ZBH	Exit	Zimmer Biomet Hgs Inc	$0	–	-90,000	–	-1.66%	–
	Exit	NeuroDerm Ltd	$0	–	-461,654	–	-1.98%	–

Q2 2017

			Value		Shares		↓ Weighting
HZNP	New	Horizon Pharma Plc	$28,750,000	–	2,422,090	–	4.13%	–
EXEL	New	Exelixis Inc	$25,862,000	–	1,050,000	–	3.71%	–
NVCR	New	NovoCure Ltd Reg	$21,042,000	–	1,216,314	–	3.02%	–
ALXN	New	Alexion Pharmaceuticals Inc	$18,737,000	–	154,000	–	2.69%	–
CELG	New	Celgene Corp	$18,442,000	–	142,000	–	2.65%	–
GILD	New	Gilead Sciences Inc	$18,185,000	–	256,916	–	2.61%	–
INCY	New	Incyte Corp Ltd	$17,633,000	–	140,046	–	2.53%	–
BMRN	New	BioMarin Pharmaceutical Inc	$17,192,000	–	189,300	–	2.47%	–
MDT	New	Medtronic Plc	$16,961,000	–	191,115	–	2.44%	–
ESPR	New	Esperion Therapeutics Inc	$16,816,000	–	363,347	–	2.41%	–
UNH	New	United Health Group Inc	$16,688,000	–	90,000	–	2.40%	–
NKTR	New	Nektar Therapeutics	$15,542,000	–	795,000	–	2.23%	–
ABMD	New	Abiomed Inc	$15,211,000	–	106,150	–	2.18%	–
PFE	New	Pfizer Inc	$14,458,000	–	430,422	–	2.08%	–
GKOS	New	Glaukos Corp	$14,326,000	–	345,450	–	2.06%	–
	New	NeuroDerm Ltd	$13,803,000	–	461,654	–	1.98%	–
JAZZ	New	Jazz Pharmaceuticals Plc	$13,221,000	–	85,020	–	1.90%	–
BIIB	New	Biogen Inc	$13,161,000	–	48,500	–	1.89%	–
AGN	New	Allergan Plc	$12,641,000	–	52,000	–	1.82%	–
LLY	New	Eli Lilly & Co	$12,345,000	–	150,000	–	1.77%	–
VRTX	New	Vertex Pharmaceuticals Inc	$12,244,000	–	95,013	–	1.76%	–
ZBH	New	Zimmer Biomet Hgs Inc	$11,556,000	–	90,000	–	1.66%	–
NVRO	New	Nevro Corp	$11,545,000	–	155,118	–	1.66%	–
ITCI	New	Intra-Cellular Therapies Inc	$10,348,000	–	833,154	–	1.49%	–
ESRX	New	Express Scripts Hg Co	$9,959,000	–	156,000	–	1.43%	–
ABBV	New	AbbVie Inc	$9,789,000	–	135,000	–	1.41%	–
MRK	New	Merck & Co Inc	$8,973,000	–	140,000	–	1.29%	–
HUM	New	Humana Inc	$8,422,000	–	35,000	–	1.21%	–
HCA	New	HCA Healthcare Inc	$8,258,000	–	94,707	–	1.19%	–
CNC	New	Centene Corp	$7,988,000	–	100,000	–	1.15%	–
ALKS	New	Alkermes Plc	$7,850,000	–	135,409	–	1.13%	–
WBA	New	Walgreens Boots Alliance Inc	$7,831,000	–	100,000	–	1.12%	–
SNY	New	Sanofi spons ADR repr 0.5 Share	$7,666,000	–	160,000	–	1.10%	–
ELGX	New	Endologix Inc	$7,655,000	–	1,575,000	–	1.10%	–
DXCM	New	Dexcom Inc	$7,635,000	–	104,380	–	1.10%	–
CI	New	Cigna Corp	$7,533,000	–	45,000	–	1.08%	–
REGN	New	Regeneron Pharmaceuticals Inc	$7,416,000	–	15,100	–	1.06%	–
CVS	New	CVS Health Corp	$6,839,000	–	85,000	–	0.98%	–
ADMS	New	Adamas Pharmaceuticals Inc	$6,439,000	–	368,166	–	0.92%	–
ALNY	New	Alnylam Pharmaceuticals Inc	$6,396,000	–	80,190	–	0.92%	–
BMY	New	Bristol Myers Squibb Co	$6,330,000	–	113,595	–	0.91%	–
LIVN	New	Livanova Plc	$6,234,000	–	101,854	–	0.90%	–
PTLA	New	Portola Pharmaceuticals Inc	$6,224,000	–	110,805	–	0.89%	–
KITE	New	Kite Pharma Inc	$6,220,000	–	60,000	–	0.89%	–
UHS	New	Universal Health Services Inc B	$6,104,000	–	50,000	–	0.88%	–
AMGN	New	Amgen Inc	$6,028,000	–	35,000	–	0.86%	–
RVNC	New	Revance Therapeutics Inc	$5,808,000	–	220,000	–	0.83%	–
DVAX	New	Dynavax Technologies Corp	$5,668,000	–	587,330	–	0.81%	–
AET	New	Aetna Inc	$5,618,000	–	37,000	–	0.81%	–
NBIX	New	Neurocrine Biosciences Inc	$5,520,000	–	120,000	–	0.79%	–
XNCR	New	Xencor Inc	$5,479,000	–	259,556	–	0.79%	–
NXTM	New	NxStage Medical Inc	$5,362,000	–	213,901	–	0.77%	–
FGEN	New	FibroGen Inc	$4,985,000	–	154,341	–	0.72%	–
ANTM	New	Anthem Inc	$4,979,000	–	26,468	–	0.72%	–
IOVA	New	Iovance Biotherapeutics Inc Reg	$4,778,000	–	650,000	–	0.69%	–
IMMU	New	Immunomedics Inc	$4,676,000	–	529,610	–	0.67%	–
ABT	New	Abbott Laboratories	$4,618,000	–	95,000	–	0.66%	–
TMO	New	Thermo Fisher Scientific Inc	$4,362,000	–	25,000	–	0.63%	–
CAH	New	Cardinal Health Inc	$4,286,000	–	55,000	–	0.62%	–
ABC	New	AmerisourceBergen Corp	$4,254,000	–	45,000	–	0.61%	–
OMCL	New	Omnicell Inc	$4,061,000	–	94,231	–	0.58%	–
SAGE	New	Sage Therapeutics Inc	$3,982,000	–	50,000	–	0.57%	–
AERI	New	Aerie Pharmaceuticals Inc	$3,941,000	–	75,000	–	0.57%	–
EW	New	Edwards Lifesciences Corp	$3,902,000	–	33,000	–	0.56%	–
EPZM	New	Epizyme Inc	$3,807,000	–	252,136	–	0.55%	–
RIGL	New	Rigel Pharmaceuticals Inc	$3,756,000	–	1,375,900	–	0.54%	–
ARRY	New	Array BioPharma Inc	$3,557,000	–	425,000	–	0.51%	–
DVA	New	DaVita Inc	$3,562,000	–	55,000	–	0.51%	–
RDUS	New	Radius Health Inc	$3,392,000	–	75,000	–	0.49%	–
HOLX	New	Hologic Inc	$3,177,000	–	70,000	–	0.46%	–
ENDP	New	Endo International Plc	$3,097,000	–	277,303	–	0.44%	–
LH	New	Laboratory Corp of America Hgs	$3,083,000	–	20,000	–	0.44%	–
KERX	New	Keryx Biopharmaceuticals Inc	$3,074,000	–	425,111	–	0.44%	–
MGNX	New	Macrogenics Inc	$3,064,000	–	175,000	–	0.44%	–
CHRS	New	Coherus BioSciences Inc	$2,423,000	–	168,872	–	0.35%	–
RARE	New	Ultragenyx Pharmaceutical Inc	$2,209,000	–	35,573	–	0.32%	–
CMRX	New	Chimerix Inc	$2,180,000	–	400,000	–	0.31%	–
TTPH	New	Tetraphase Pharmaceuticals Inc	$2,139,000	–	300,000	–	0.31%	–
BIVV	New	Bioverativ Inc Reg S	$1,865,000	–	31,000	–	0.27%	–
PODD	New	Insulet Corp	$1,796,000	–	35,000	–	0.26%	–
HALO	New	Halozyme Therapeutics Inc	$1,538,000	–	120,000	–	0.22%	–
SUPN	New	Supernus Pharmaceuticals Inc	$1,293,000	–	30,000	–	0.19%	–
RAD	New	Rite Aid Corp	$1,033,000	–	350,000	–	0.15%	–
ACAD	New	Acadia Pharmaceuticals Inc	$837,000	–	30,000	–	0.12%	–
ACHN	New	Achillion Pharmaceuticals Inc	$762,000	–	166,000	–	0.11%	–
STAA	New	Staar Surgical Co	$755,000	–	69,950	–	0.11%	–
FWP	New	Forward Pharma A/S spons ADS Level III repr 1 Share	$744,000	–	36,584	–	0.11%	–
RGLS	New	Regulus Therapeutic Inc	$585,000	–	593,629	–	0.08%	–
JPM	New	JPMorgan Chase & Co	$442,000	–	4,837	–	0.06%	–
CATB	New	Catabasis Pharmaceuticals Inc	$441,000	–	310,756	–	0.06%	–
CNCE	New	Concert Pharm Inc	$420,000	–	30,099	–	0.06%	–
WFC	New	Wells Fargo & Co	$405,000	–	7,305	–	0.06%	–
XOM	New	Exxon Mobil Corp	$389,000	–	4,823	–	0.06%	–
ADVM	New	Adverum Biotechnologies Inc	$385,000	–	154,006	–	0.06%	–
OCUL	New	Ocular Therapeutix Inc	$371,000	–	40,000	–	0.05%	–
ICPT	New	Intercept Pharmaceuticals Inc	$364,000	–	3,008	–	0.05%	–
OREXQ	New	Orexigen Therapeutics Inc	$348,000	–	120,000	–	0.05%	–
MSFT	New	Microsoft Corp	$330,000	–	4,793	–	0.05%	–
HAL	New	Halliburton Co (Hg Co)	$330,000	–	7,718	–	0.05%	–
F	New	Ford Motor Co	$318,000	–	28,404	–	0.05%	–
BUD	New	Anheuser-Busch InBev SA ADR spons repr 1 Share	$310,000	–	2,806	–	0.04%	–
QCOM	New	Qualcomm Inc	$296,000	–	5,368	–	0.04%	–
IBM	New	IBM Corp	$272,000	–	1,766	–	0.04%	–
TNDM	New	Tandem Diabetes Care Inc	$187,000	–	234,000	–	0.03%	–
MRTX	New	Mirati Therapeutics Inc	$183,000	–	50,000	–	0.03%	–
THLD	New	Threshold Pharmaceuticals	$79,000	–	201,537	–	0.01%	–
OPHT	New	Ophthotech Corp	$61,000	–	23,920	–	0.01%	–
ANTH	New	Anthera Pharmaceuticals Inc Reg	$41,000	–	25,000	–	0.01%	–

Q4 2016

			Value		Shares		↓ Weighting
THLD	Exit	Threshold Pharmaceuticals	$0	–	-201,537	–	-0.02%	–
F	Exit	Ford Motor Co	$0	–	-14,611	–	-0.03%	–
JPM	Exit	Jpmorgan Chase & Co	$0	–	-2,688	–	-0.03%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-2,102	–	-0.03%	–
IBM	Exit	Intl Business Machines Corp	$0	–	-1,143	–	-0.03%	–
MSFT	Exit	Microsoft Corp	$0	–	-3,140	–	-0.03%	–
HAL	Exit	Halliburton Co	$0	–	-4,231	–	-0.03%	–
GKOS	Exit	Glaukos Corp	$0	–	-5,100	–	-0.03%	–
QCOM	Exit	Qualcomm Inc	$0	–	-2,869	–	-0.03%	–
CAT	Exit	Caterpillar Inc	$0	–	-2,178	–	-0.03%	–
WFC	Exit	Wells Fargo & Co	$0	–	-4,522	–	-0.03%	–
OCUL	Exit	Ocular Therapeutix Inc	$0	–	-40,000	–	-0.04%	–
CNCE	Exit	Concert Pharmaceuticals Inc	$0	–	-30,099	–	-0.05%	–
MRTX	Exit	Mirati Therapeutics Inc	$0	–	-50,000	–	-0.05%	–
OREXQ	Exit	Orexigen Therapeutics Inc	$0	–	-120,000	–	-0.06%	–
MD	Exit	Mednax Inc	$0	–	-9,000	–	-0.10%	–
CATB	Exit	Catabasis Pharmaceuticals In	$0	–	-100,000	–	-0.10%	–
ADVM	Exit	Adverum Biotechnologies Inc	$0	–	-154,006	–	-0.10%	–
ANTH	Exit	Anthera Pharmaceuticals Inc	$0	–	-300,000	–	-0.15%	–
RGLS	Exit	Regulus Therapeutics Inc	$0	–	-300,000	–	-0.16%	–
TTPH	Exit	Tetraphase Pharmaceuticals I	$0	–	-300,000	–	-0.18%	–
VRX	Exit	Valeant Pharmaceuticals Inte	$0	–	-50,000	–	-0.20%	–
ACAD	Exit	Acadia Pharmaceuticals Inc	$0	–	-50,000	–	-0.25%	–
ICPT	Exit	Intercept Pharmaceuticals In	$0	–	-10,000	–	-0.26%	–
JNJ	Exit	Johnson & Johnson	$0	–	-15,000	–	-0.28%	–
TNDM	Exit	Tandem Diabetes Care Inc	$0	–	-234,000	–	-0.28%	–
ESPR	Exit	Esperion Therapeutics Inc	$0	–	-130,000	–	-0.29%	–
NBIX	Exit	Neurocrine Biosciences Inc	$0	–	-40,000	–	-0.32%	–
ITCI	Exit	Intra-Cellular Therapies Inc	$0	–	-135,000	–	-0.33%	–
ADMS	Exit	Adamas Pharmaceuticals Inc	$0	–	-130,000	–	-0.34%	–
TSRO	Exit	Tesaro Inc	$0	–	-21,500	–	-0.34%	–
FGEN	Exit	Fibrogen Inc	$0	–	-104,000	–	-0.34%	–
ACHN	Exit	Achillion Pharmaceuticals	$0	–	-266,000	–	-0.34%	–
RAD	Exit	Rite Aid Corp	$0	–	-300,000	–	-0.37%	–
PODD	Exit	Insulet Corp	$0	–	-57,000	–	-0.37%	–
KERX	Exit	Keryx Biopharmaceuticals	$0	–	-500,111	–	-0.42%	–
	Exit	Neuroderm Ltd	$0	–	-144,546	–	-0.42%	–
PTLA	Exit	Portola Pharmaceuticals Inc	$0	–	-120,805	–	-0.44%	–
HALO	Exit	Halozyme Therapeutics Inc	$0	–	-250,000	–	-0.48%	–
CMRX	Exit	Chimerix Inc	$0	–	-550,000	–	-0.48%	–
DVAX	Exit	Dynavax Technologies Corp	$0	–	-300,000	–	-0.50%	–
PRGO	Exit	Perrigo Co Plc	$0	–	-35,000	–	-0.51%	–
RVNC	Exit	Revance Therapeutics Inc	$0	–	-210,000	–	-0.54%	–
CHRS	Exit	Coherus Biosciences Inc	$0	–	-131,357	–	-0.56%	–
COO	Exit	Cooper Cos Inc/The	$0	–	-20,000	–	-0.57%	–
NXTM	Exit	Nxstage Medical Inc	$0	–	-145,300	–	-0.58%	–
DVA	Exit	Davita Inc	$0	–	-55,000	–	-0.58%	–
UHS	Exit	Universal Health Services-B	$0	–	-30,000	–	-0.59%	–
ARRY	Exit	Array Biopharma Inc	$0	–	-550,000	–	-0.59%	–
CEMP	Exit	Cempra Inc	$0	–	-161,000	–	-0.62%	–
TMO	Exit	Thermo Fisher Scientific Inc	$0	–	-25,000	–	-0.63%	–
RDUS	Exit	Radius Health Inc	$0	–	-75,000	–	-0.64%	–
LH	Exit	Laboratory Crp Of Amer Hldgs	$0	–	-30,000	–	-0.66%	–
MCK	Exit	Mckesson Corp	$0	–	-25,000	–	-0.66%	–
MGNX	Exit	Macrogenics Inc	$0	–	-140,000	–	-0.66%	–
CAH	Exit	Cardinal Health Inc	$0	–	-55,000	–	-0.68%	–
ABC	Exit	Amerisourcebergen Corp	$0	–	-53,000	–	-0.68%	–
HUM	Exit	Humana Inc	$0	–	-25,000	–	-0.70%	–
OMCL	Exit	Omnicell Inc	$0	–	-118,537	–	-0.72%	–
AET	Exit	Aetna Inc	$0	–	-42,000	–	-0.77%	–
KITE	Exit	Kite Pharma Inc	$0	–	-90,000	–	-0.80%	–
RIGL	Exit	Rigel Pharmaceuticals Inc	$0	–	-1,400,000	–	-0.82%	–
NVRO	Exit	Nevro Corp	$0	–	-49,300	–	-0.82%	–
WBA	Exit	Walgreens Boots Alliance Inc	$0	–	-65,000	–	-0.83%	–
LBIO	Exit	Lion Biotechnologies Inc	$0	–	-650,000	–	-0.85%	–
CNC	Exit	Centene Corp	$0	–	-80,000	–	-0.85%	–
XNCR	Exit	Xencor Inc	$0	–	-225,000	–	-0.88%	–
ELGX	Exit	Endologix Inc	$0	–	-435,000	–	-0.88%	–
DXCM	Exit	Dexcom Inc	$0	–	-65,000	–	-0.90%	–
ZLTQ	Exit	Zeltiq Aesthetics Inc	$0	–	-160,000	–	-1.00%	–
HZNP	Exit	Horizon Pharma Plc	$0	–	-365,000	–	-1.05%	–
EW	Exit	Edwards Lifesciences Corp	$0	–	-55,000	–	-1.05%	–
SUPN	Exit	Supernus Pharmaceuticals Inc	$0	–	-270,000	–	-1.06%	–
NKTR	Exit	Nektar Therapeutics	$0	–	-390,000	–	-1.06%	–
ABBV	Exit	Abbvie Inc	$0	–	-110,000	–	-1.10%	–
VRTX	Exit	Vertex Pharmaceuticals Inc	$0	–	-80,013	–	-1.11%	–
HOLX	Exit	Hologic Inc	$0	–	-180,000	–	-1.11%	–
ENDP	Exit	Endo International Plc	$0	–	-360,200	–	-1.15%	–
JAZZ	Exit	Jazz Pharmaceuticals Plc	$0	–	-60,000	–	-1.16%	–
EXEL	Exit	Exelixis Inc	$0	–	-600,000	–	-1.22%	–
ESRX	Exit	Express Scripts Holding Co	$0	–	-111,000	–	-1.24%	–
ALKS	Exit	Alkermes Plc	$0	–	-175,599	–	-1.31%	–
HCA	Exit	Hca Holdings Inc	$0	–	-110,000	–	-1.32%	–
	Exit	Anthem Inc	$0	–	-67,434	–	-1.34%	–
ALNY	Exit	Alnylam Pharmaceuticals Inc	$0	–	-130,000	–	-1.40%	–
AMGN	Exit	Amgen Inc	$0	–	-55,000	–	-1.46%	–
ARIA	Exit	Ariad Pharmaceuticals Inc	$0	–	-675,000	–	-1.47%	–
ABMD	Exit	Abiomed Inc	$0	–	-85,000	–	-1.74%	–
CI	Exit	Cigna Corp	$0	–	-84,000	–	-1.74%	–
ZBH	Exit	Zimmer Biomet Holdings Inc	$0	–	-85,000	–	-1.76%	–
REGN	Exit	Regeneron Pharmaceuticals	$0	–	-29,500	–	-1.88%	–
TEVA	Exit	Teva Pharmaceutical-Sp Adr	$0	–	-270,000	–	-1.97%	–
MRK	Exit	Merck & Co. Inc.	$0	–	-200,000	–	-1.98%	–
BMY	Exit	Bristol-Myers Squibb Co	$0	–	-237,000	–	-2.03%	–
BMRN	Exit	Biomarin Pharmaceutical Inc	$0	–	-140,000	–	-2.06%	–
CVS	Exit	Cvs Health Corp	$0	–	-160,000	–	-2.26%	–
	Exit	Medtronic Plc	$0	–	-169,078	–	-2.32%	–
	Exit	Gilead Sciences Inc	$0	–	-207,304	–	-2.60%	–
INCY	Exit	Incyte Corp	$0	–	-185,000	–	-2.77%	–
BIIB	Exit	Biogen Inc	$0	–	-57,000	–	-2.83%	–
UNH	Exit	Unitedhealth Group Inc	$0	–	-130,000	–	-2.89%	–
AGN	Exit	Allergan Plc	$0	–	-79,500	–	-2.91%	–
	Exit	Pfizer Inc	$0	–	-555,355	–	-2.99%	–
CELG	Exit	Celgene Corp	$0	–	-186,000	–	-3.09%	–
ALXN	Exit	Alexion Pharmaceuticals Inc	$0	–	-161,702	–	-3.15%	–
LLY	Exit	Eli Lilly & Co	$0	–	-255,000	–	-3.25%	–
SHPG	Exit	Shire Plcsponsored adr	$0	–	-409,858	–	-4.22%	–

Q3 2016

			Value		Shares		↓ Weighting
SHPG	New	Shire Plcsponsored adr	$26,595,290,000	–	409,858	–	4.22%	–
LLY	Buy	Eli Lilly & Co	$20,466,300,000	+110492.8%	255,000	+8.5%	3.25%	-1.1%
ALXN	Sell	Alexion Pharmaceuticals Inc	$19,814,963,000	+75973.9%	161,702	-27.5%	3.15%	-32.0%
CELG	Sell	Celgene Corp	$19,442,580,000	+98960.4%	186,000	-6.5%	3.09%	-11.4%
	New	Pfizer Inc	$18,809,874,000	–	555,355	–	2.99%	–
AGN	Buy	Allergan Plc	$18,309,645,000	+152264.5%	79,500	+52.9%	2.91%	+36.3%
UNH	Buy	Unitedhealth Group Inc	$18,200,000,000	+151541.4%	130,000	+52.9%	2.89%	+35.7%
BIIB	Sell	Biogen Inc	$17,842,710,000	+92129.5%	57,000	-28.8%	2.83%	-17.5%
INCY	Buy	Incyte Corp	$17,443,650,000	+128190.4%	185,000	+8.8%	2.77%	+14.8%
	New	Gilead Sciences Inc	$16,401,892,000	–	207,304	–	2.60%	–
	New	Medtronic Plc	$14,608,339,000	–	169,078	–	2.32%	–
CVS	Buy	Cvs Health Corp	$14,238,400,000	+123830.7%	160,000	+33.3%	2.26%	+10.8%
BMRN	Sell	Biomarin Pharmaceutical Inc	$12,952,800,000	+110892.3%	140,000	-6.7%	2.06%	-0.7%
BMY	Buy	Bristol-Myers Squibb Co	$12,779,040,000	+126726.5%	237,000	+73.0%	2.03%	+13.5%
MRK	New	Merck & Co. Inc.	$12,482,000,000	–	200,000	–	1.98%	–
TEVA	New	Teva Pharmaceutical-Sp Adr	$12,422,700,000	–	270,000	–	1.97%	–
REGN	Sell	Regeneron Pharmaceuticals	$11,859,590,000	+68504.1%	29,500	-40.4%	1.88%	-38.6%
ZBH	Buy	Zimmer Biomet Holdings Inc	$11,051,700,000	+129205.0%	85,000	+19.7%	1.76%	+15.6%
CI	Sell	Cigna Corp	$10,946,880,000	+86293.2%	84,000	-15.2%	1.74%	-22.7%
ABMD	Sell	Abiomed Inc	$10,929,300,000	+95144.4%	85,000	-19.0%	1.74%	-14.8%
ARIA	Buy	Ariad Pharmaceuticals Inc	$9,240,750,000	+199959.5%	675,000	+8.0%	1.47%	+79.0%
AMGN	Sell	Amgen Inc	$9,174,550,000	+97950.1%	55,000	-10.6%	1.46%	-12.3%
ALNY	Sell	Alnylam Pharmaceuticals Inc	$8,811,400,000	+81328.7%	130,000	-33.3%	1.40%	-27.2%
	New	Anthem Inc	$8,450,155,000	–	67,434	–	1.34%	–
HCA	Buy	Hca Holdings Inc	$8,319,300,000	+107928.8%	110,000	+10.0%	1.32%	-3.4%
ALKS	Buy	Alkermes Plc	$8,258,421,000	+140804.6%	175,599	+29.5%	1.31%	+26.0%
ESRX	Sell	Express Scripts Holding Co	$7,828,830,000	+88934.8%	111,000	-4.3%	1.24%	-20.4%
EXEL	Sell	Exelixis Inc	$7,674,000,000	+122723.3%	600,000	-25.0%	1.22%	+9.9%
JAZZ	Sell	Jazz Pharmaceuticals Plc	$7,288,800,000	+73583.8%	60,000	-14.3%	1.16%	-34.1%
ENDP	Sell	Endo International Plc	$7,258,030,000	+73191.2%	360,200	-43.3%	1.15%	-34.5%
VRTX	Buy	Vertex Pharmaceuticals Inc	$6,977,934,000	+135105.1%	80,013	+33.4%	1.11%	+21.0%
ABBV	Buy	Abbvie Inc	$6,937,700,000	+159976.1%	110,000	+57.1%	1.10%	+43.1%
NKTR	Sell	Nektar Therapeutics	$6,700,200,000	+100082.4%	390,000	-17.0%	1.06%	-10.4%
SUPN	Sell	Supernus Pharmaceuticals Inc	$6,677,100,000	+116960.0%	270,000	-3.6%	1.06%	+4.7%
EW	Sell	Edwards Lifesciences Corp	$6,630,800,000	+94883.5%	55,000	-21.4%	1.05%	-15.1%
HZNP	Sell	Horizon Pharma Plc	$6,617,450,000	+108489.6%	365,000	-1.4%	1.05%	-2.9%
DXCM	Buy	Dexcom Inc	$5,697,900,000	+130495.9%	65,000	+18.2%	0.90%	+16.8%
CNC	Sell	Centene Corp	$5,356,800,000	+67086.8%	80,000	-28.4%	0.85%	-39.9%
WBA	Sell	Walgreens Boots Alliance Inc	$5,240,300,000	+96264.5%	65,000	-0.5%	0.83%	-13.9%
NVRO	Sell	Nevro Corp	$5,146,427,000	+128400.0%	49,300	-9.2%	0.82%	+14.9%
RIGL	Buy	Rigel Pharmaceuticals Inc	$5,138,000,000	+270891.6%	1,400,000	+64.7%	0.82%	+142.1%
KITE	Buy	Kite Pharma Inc	$5,027,400,000	+143540.0%	90,000	+28.6%	0.80%	+28.3%
AET	Sell	Aetna Inc	$4,848,900,000	+59155.8%	42,000	-37.3%	0.77%	-47.0%
OMCL	Sell	Omnicell Inc	$4,539,967,000	+103081.1%	118,537	-7.8%	0.72%	-7.7%
HUM	Sell	Humana Inc	$4,422,250,000	+81854.2%	25,000	-16.7%	0.70%	-26.7%
ABC	Sell	Amerisourcebergen Corp	$4,281,340,000	+69099.0%	53,000	-32.1%	0.68%	-38.1%
CAH	Sell	Cardinal Health Inc	$4,273,500,000	+66704.8%	55,000	-32.9%	0.68%	-40.2%
MCK	Sell	Mckesson Corp	$4,168,750,000	+74342.0%	25,000	-16.7%	0.66%	-33.4%
LH	Sell	Laboratory Crp Of Amer Hldgs	$4,124,400,000	+70258.2%	30,000	-33.3%	0.66%	-37.1%
RDUS	Sell	Radius Health Inc	$4,056,750,000	+110287.8%	75,000	-25.0%	0.64%	-1.4%
TMO	New	Thermo Fisher Scientific Inc	$3,976,500,000	–	25,000	–	0.63%	–
CEMP	Sell	Cempra Inc	$3,896,200,000	+138063.1%	161,000	-5.8%	0.62%	+23.6%
ARRY	Buy	Array Biopharma Inc	$3,712,500,000	+281790.7%	550,000	+48.6%	0.59%	+152.1%
UHS	New	Universal Health Services-B	$3,696,600,000	–	30,000	–	0.59%	–
DVA	New	Davita Inc	$3,633,850,000	–	55,000	–	0.58%	–
COO	Sell	Cooper Cos Inc/The	$3,585,200,000	+83490.6%	20,000	-20.0%	0.57%	-25.3%
RVNC	Sell	Revance Therapeutics Inc	$3,404,100,000	+113673.4%	210,000	-4.5%	0.54%	+1.9%
PRGO	Buy	Perrigo Co Plc	$3,231,550,000	+178143.2%	35,000	+75.0%	0.51%	+59.3%
DVAX	Buy	Dynavax Technologies Corp	$3,147,000,000	+143795.7%	300,000	+100.0%	0.50%	+28.9%
PTLA	Buy	Portola Pharmaceuticals Inc	$2,743,482,000	+110613.6%	120,805	+15.1%	0.44%	-0.9%
KERX	Buy	Keryx Biopharmaceuticals	$2,655,589,000	+89013.7%	500,111	+11.1%	0.42%	-20.2%
PODD	Sell	Insulet Corp	$2,333,580,000	+93996.0%	57,000	-30.5%	0.37%	-15.7%
RAD	New	Rite Aid Corp	$2,307,000,000	–	300,000	–	0.37%	–
TSRO	New	Tesaro Inc	$2,155,160,000	–	21,500	–	0.34%	–
FGEN	Sell	Fibrogen Inc	$2,152,800,000	+114961.5%	104,000	-8.8%	0.34%	+3.0%
ITCI	Buy	Intra-Cellular Therapies Inc	$2,057,400,000	+45988.7%	135,000	+17.4%	0.33%	-58.8%
ESPR	Sell	Esperion Therapeutics Inc	$1,800,500,000	+130088.0%	130,000	-7.1%	0.29%	+16.3%
TNDM	Buy	Tandem Diabetes Care Inc	$1,792,440,000	+113633.5%	234,000	+12.0%	0.28%	+1.8%
JNJ	New	Johnson & Johnson	$1,771,950,000	–	15,000	–	0.28%	–
ICPT	New	Intercept Pharmaceuticals In	$1,645,900,000	–	10,000	–	0.26%	–
VRX	Sell	Valeant Pharmaceuticals Inte	$1,227,500,000	+28925.8%	50,000	-76.2%	0.20%	-74.0%
RGLS	Sell	Regulus Therapeutics Inc	$990,000,000	+97726.1%	300,000	-14.3%	0.16%	-12.8%
CATB	Sell	Catabasis Pharmaceuticals In	$616,000,000	+48138.1%	100,000	-71.0%	0.10%	-56.8%
MD	Sell	Mednax Inc	$596,250,000	+10190.8%	9,000	-88.8%	0.10%	-90.8%
OREXQ	New	Orexigen Therapeutics Inc	$398,400,000	–	120,000	–	0.06%	–
WFC	New	Wells Fargo & Co	$200,234,000	–	4,522	–	0.03%	–
QCOM	New	Qualcomm Inc	$196,526,000	–	2,869	–	0.03%	–
CAT	New	Caterpillar Inc	$193,341,000	–	2,178	–	0.03%	–
HAL	New	Halliburton Co	$189,887,000	–	4,231	–	0.03%	–
XOM	New	Exxon Mobil Corp	$183,463,000	–	2,102	–	0.03%	–
IBM	New	Intl Business Machines Corp	$181,566,000	–	1,143	–	0.03%	–
MSFT	New	Microsoft Corp	$180,864,000	–	3,140	–	0.03%	–
JPM	New	Jpmorgan Chase & Co	$178,994,000	–	2,688	–	0.03%	–
F	New	Ford Motor Co	$176,355,000	–	14,611	–	0.03%	–
RARE	Exit	Ultragenyx Pharmaceutical Inc	$0	–	-10,000	–	-0.09%	–
OREX	Exit	Orexigen Therapeutics Inc	$0	–	-1,200,000	–	-0.09%	–
QHCCQ	Exit	Quorum Health Corp	$0	–	-56,250	–	-0.11%	–
CYH	Exit	Community Health Syst Inc	$0	–	-175,000	–	-0.38%	–
BDX	Exit	Becton Dickinson & Co	$0	–	-15,000	–	-0.45%	–
ABT	Exit	Abbott Laboratories	$0	–	-84,100	–	-0.59%	–
LIVN	Exit	Livanova Plc	$0	–	-70,000	–	-0.62%	–
CERN	Exit	Cerner Corp	$0	–	-81,000	–	-0.84%	–
MDVN	Exit	Medivation Inc	$0	–	-80,000	–	-0.86%	–
ANTM	Exit	Anthem Inc	$0	–	-40,000	–	-0.93%	–
CPHD	Exit	Cepheid Inc	$0	–	-260,000	–	-1.42%	–
MDT	Exit	Medtronic Plc	$0	–	-127,000	–	-1.96%	–
PFE	Exit	Pfizer Inc	$0	–	-375,000	–	-2.34%	–
GILD	Exit	Gilead Sciences Inc	$0	–	-240,000	–	-3.56%	–

Q2 2016

			Value		Shares		↓ Weighting
ALXN	New	Alexion Pharmaceuticals Inc	$26,047,000	–	223,082	–	4.62%	–
GILD	New	Gilead Sciences Inc	$20,021,000	–	240,000	–	3.56%	–
CELG	New	Celgene Corp	$19,627,000	–	199,000	–	3.48%	–
BIIB	New	Biogen Inc	$19,346,000	–	80,000	–	3.44%	–
LLY	New	Eli Lilly & Co	$18,506,000	–	235,000	–	3.29%	–
REGN	New	Regeneron Pharmaceuticals Inc	$17,287,000	–	49,500	–	3.07%	–
INCY	New	Incyte Corp Ltd	$13,597,000	–	170,000	–	2.41%	–
PFE	New	Pfizer Inc	$13,204,000	–	375,000	–	2.34%	–
CI	New	Cigna Corp	$12,671,000	–	99,000	–	2.25%	–
AGN	New	Allergan Plc	$12,017,000	–	52,000	–	2.13%	–
UNH	New	United Health Group Inc	$12,002,000	–	85,000	–	2.13%	–
BMRN	New	BioMarin Pharmaceutical Inc	$11,670,000	–	150,000	–	2.07%	–
CVS	New	CVS Health Corp	$11,489,000	–	120,000	–	2.04%	–
ABMD	New	Abiomed Inc	$11,475,000	–	105,000	–	2.04%	–
MDT	New	Medtronic Plc	$11,020,000	–	127,000	–	1.96%	–
ALNY	New	Alnylam Pharmaceuticals Inc	$10,821,000	–	195,000	–	1.92%	–
BMY	New	Bristol Myers Squibb Co	$10,076,000	–	137,000	–	1.79%	–
ENDP	New	Endo International Plc	$9,903,000	–	635,200	–	1.76%	–
JAZZ	New	Jazz Pharmaceuticals Plc	$9,892,000	–	70,000	–	1.76%	–
AMGN	New	Amgen Inc	$9,357,000	–	61,500	–	1.66%	–
ESRX	New	Express Scripts Hg Co	$8,793,000	–	116,000	–	1.56%	–
ZBH	New	Zimmer Biomet Hgs Inc	$8,547,000	–	71,000	–	1.52%	–
AET	New	Aetna Inc	$8,183,000	–	67,000	–	1.45%	–
CPHD	New	Cepheid Inc	$7,995,000	–	260,000	–	1.42%	–
CNC	New	Centene Corp	$7,973,000	–	111,712	–	1.42%	–
HCA	New	HCA Holdings Inc	$7,701,000	–	100,000	–	1.37%	–
EW	New	Edwards Lifesciences Corp	$6,981,000	–	70,000	–	1.24%	–
NKTR	New	Nektar Therapeutics	$6,688,000	–	470,000	–	1.19%	–
CAH	New	Cardinal Health Inc	$6,397,000	–	82,000	–	1.14%	–
EXEL	New	Exelixis Inc	$6,248,000	–	800,000	–	1.11%	–
HOLX	New	Hologic Inc	$6,228,000	–	180,000	–	1.11%	–
ABC	New	AmerisourceBergen Corp	$6,187,000	–	78,000	–	1.10%	–
HZNP	New	Horizon Pharma Plc	$6,094,000	–	370,000	–	1.08%	–
LH	New	Laboratory Corp of America Hgs	$5,862,000	–	45,000	–	1.04%	–
ALKS	New	Alkermes Plc	$5,861,000	–	135,599	–	1.04%	–
MD	New	Mednax Inc	$5,794,000	–	80,000	–	1.03%	–
SUPN	New	Supernus Pharmaceuticals Inc	$5,704,000	–	280,000	–	1.01%	–
MCK	New	McKesson Corp	$5,600,000	–	30,000	–	0.99%	–
WBA	New	Walgreens Boots Alliance Inc	$5,438,000	–	65,300	–	0.97%	–
ELGX	New	Endologix Inc	$5,420,000	–	435,000	–	0.96%	–
HUM	New	Humana Inc	$5,396,000	–	30,000	–	0.96%	–
LBIO	New	Lion Biotechnologies Inc	$5,265,000	–	650,000	–	0.94%	–
ANTM	New	Anthem Inc	$5,254,000	–	40,000	–	0.93%	–
VRTX	New	Vertex Pharmaceuticals Inc	$5,161,000	–	60,000	–	0.92%	–
MDVN	New	Medivation Inc	$4,824,000	–	80,000	–	0.86%	–
CERN	New	Cerner Corp	$4,747,000	–	81,000	–	0.84%	–
ARIA	New	Ariad Pharmaceuticals Inc	$4,619,000	–	625,000	–	0.82%	–
ITCI	New	Intra-Cellular Therapies Inc	$4,464,000	–	115,000	–	0.79%	–
OMCL	New	Omnicell Inc	$4,400,000	–	128,537	–	0.78%	–
ZLTQ	New	ZELTIQ Aesthetics Inc	$4,373,000	–	160,000	–	0.78%	–
DXCM	New	Dexcom Inc	$4,363,000	–	55,000	–	0.78%	–
ABBV	New	AbbVie Inc	$4,334,000	–	70,000	–	0.77%	–
COO	New	Cooper Companies Inc (The)	$4,289,000	–	25,000	–	0.76%	–
XNCR	New	Xencor Inc	$4,273,000	–	225,000	–	0.76%	–
VRX	New	Valeant Pharm Intl Inc	$4,229,000	–	210,000	–	0.75%	–
NVRO	New	Nevro Corp	$4,005,000	–	54,300	–	0.71%	–
MGNX	New	Macrogenics Inc	$3,779,000	–	140,000	–	0.67%	–
RDUS	New	Radius Health Inc	$3,675,000	–	100,000	–	0.65%	–
LIVN	New	Livanova Plc	$3,516,000	–	70,000	–	0.62%	–
KITE	New	Kite Pharma Inc	$3,500,000	–	70,000	–	0.62%	–
ABT	New	Abbott Laboratories	$3,306,000	–	84,100	–	0.59%	–
NXTM	New	NxStage Medical Inc	$3,150,000	–	145,300	–	0.56%	–
RVNC	New	Revance Therapeutics Inc	$2,992,000	–	220,000	–	0.53%	–
KERX	New	Keryx Biopharmaceuticals Inc	$2,980,000	–	450,111	–	0.53%	–
CEMP	New	Cempra Inc	$2,820,000	–	171,000	–	0.50%	–
BDX	New	Becton Dickinson & Co	$2,544,000	–	15,000	–	0.45%	–
PTLA	New	Portola Pharmaceuticals Inc	$2,478,000	–	105,000	–	0.44%	–
PODD	New	Insulet Corp	$2,480,000	–	82,000	–	0.44%	–
	New	NeuroDerm Ltd	$2,349,000	–	144,546	–	0.42%	–
CHRS	New	Coherus BioSciences Inc	$2,219,000	–	131,357	–	0.39%	–
DVAX	New	Dynavax Technologies Corp	$2,187,000	–	150,000	–	0.39%	–
CMRX	New	Chimerix Inc	$2,162,000	–	550,000	–	0.38%	–
HALO	New	Halozyme Therapeutics Inc	$2,158,000	–	250,000	–	0.38%	–
CYH	New	Community Health Syst Inc	$2,109,000	–	175,000	–	0.38%	–
ACHN	New	Achillion Pharmaceuticals Inc	$2,075,000	–	266,000	–	0.37%	–
ADMS	New	Adamas Pharmaceuticals Inc	$1,968,000	–	130,000	–	0.35%	–
RIGL	New	Rigel Pharmaceuticals Inc	$1,896,000	–	850,000	–	0.34%	–
FGEN	New	FibroGen Inc	$1,871,000	–	114,000	–	0.33%	–
NBIX	New	Neurocrine Biosciences Inc	$1,818,000	–	40,000	–	0.32%	–
PRGO	New	Perrigo Co Plc	$1,813,000	–	20,000	–	0.32%	–
ACAD	New	Acadia Pharmaceuticals Inc	$1,623,000	–	50,000	–	0.29%	–
TNDM	New	Tandem Diabetes Care Inc	$1,576,000	–	209,000	–	0.28%	–
ESPR	New	Esperion Therapeutics Inc	$1,383,000	–	140,000	–	0.25%	–
ARRY	New	Array BioPharma Inc	$1,317,000	–	370,000	–	0.23%	–
TTPH	New	Tetraphase Pharmaceuticals Inc	$1,290,000	–	300,000	–	0.23%	–
CATB	New	Catabasis Pharmaceuticals Inc	$1,277,000	–	345,100	–	0.23%	–
RGLS	New	Regulus Therapeutic Inc	$1,012,000	–	350,000	–	0.18%	–
ANTH	New	Anthera Pharmaceuticals Inc	$927,000	–	300,000	–	0.16%	–
QHCCQ	New	Quorum Health Corp	$602,000	–	56,250	–	0.11%	–
OREX	New	Orexigen Therapeutics Inc	$516,000	–	1,200,000	–	0.09%	–
RARE	New	Ultragenyx Pharmaceutical Inc	$489,000	–	10,000	–	0.09%	–
ADVM	New	Adverum Biotechnologies Inc	$487,000	–	154,006	–	0.09%	–
CNCE	New	Concert Pharm Inc	$338,000	–	30,099	–	0.06%	–
MRTX	New	Mirati Therapeutics Inc	$273,000	–	50,000	–	0.05%	–
OCUL	New	Ocular Therapeutix Inc	$198,000	–	40,000	–	0.04%	–
GKOS	New	Glaukos Corp	$149,000	–	5,100	–	0.03%	–
THLD	New	Threshold Pharmaceuticals	$128,000	–	201,537	–	0.02%	–

Q4 2015

			Value		Shares		↓ Weighting
BINDQ	Exit	BIND Therapeutics Inc	$0	–	-133,535	–	-0.10%	–
THLD	Exit	Threshold Pharmaceuticals	$0	–	-201,537	–	-0.13%	–
AAVL	Exit	Avalanche Biotechnologies Inc	$0	–	-154,006	–	-0.20%	–
HOLX	Exit	Hologic Inc	$0	–	-33,301	–	-0.21%	–
RGLS	Exit	Regulus Therapeutic Inc	$0	–	-200,000	–	-0.21%	–
DVAX	Exit	Dynavax Technologies Corp	$0	–	-55,000	–	-0.22%	–
ANTH	Exit	Anthera Pharmaceuticals Inc	$0	–	-250,000	–	-0.24%	–
TTPH	Exit	Tetraphase Pharmaceuticals Inc	$0	–	-225,000	–	-0.27%	–
ARRY	Exit	Array BioPharma Inc	$0	–	-370,000	–	-0.27%	–
MRTX	Exit	Mirati Therapeutics Inc	$0	–	-50,000	–	-0.27%	–
TNDM	Exit	Tandem Diabetes Care Inc	$0	–	-209,000	–	-0.29%	–
ACHN	Exit	Achillion Pharmaceuticals Inc	$0	–	-280,000	–	-0.31%	–
TSRO	Exit	Tesaro Inc	$0	–	-50,899	–	-0.32%	–
CMRX	Exit	Chimerix Inc	$0	–	-56,000	–	-0.34%	–
LXRX	Exit	Lexicon Pharmaceuticals Inc	$0	–	-200,000	–	-0.34%	–
XNCR	Exit	Xencor Inc	$0	–	-181,303	–	-0.35%	–
RIGL	Exit	Rigel Pharmaceuticals Inc	$0	–	-925,000	–	-0.36%	–
OMCL	Exit	Omnicell Inc	$0	–	-74,000	–	-0.37%	–
CPHD	Exit	Cepheid Inc	$0	–	-51,000	–	-0.37%	–
HALO	Exit	Halozyme Therapeutics Inc	$0	–	-172,000	–	-0.37%	–
MGNX	Exit	Macrogenics Inc	$0	–	-107,959	–	-0.37%	–
ESPR	Exit	Esperion Therapeutics Inc	$0	–	-100,000	–	-0.38%	–
CATB	Exit	Catabasis Pharmaceuticals Inc	$0	–	-300,427	–	-0.39%	–
ARIA	Exit	Ariad Pharmaceuticals Inc	$0	–	-430,000	–	-0.40%	–
OREX	Exit	Orexigen Therapeutics Inc	$0	–	-1,189,000	–	-0.40%	–
ELGX	Exit	Endologix Inc	$0	–	-229,000	–	-0.45%	–
PODD	Exit	Insulet Corp	$0	–	-110,000	–	-0.45%	–
PTLA	Exit	Portola Pharmaceuticals Inc	$0	–	-71,000	–	-0.48%	–
CLDX	Exit	Celldex Therapeutics Inc	$0	–	-295,000	–	-0.50%	–
KITE	Exit	Kite Pharma Inc	$0	–	-57,000	–	-0.51%	–
ISIS	Exit	Isis Pharmaceuticals Inc	$0	–	-80,000	–	-0.52%	–
CYBX	Exit	Cyberonics Inc	$0	–	-57,000	–	-0.55%	–
LBIO	Exit	Lion Biotechnologies Inc	$0	–	-683,108	–	-0.63%	–
CLVS	Exit	Clovis Oncology Inc	$0	–	-43,000	–	-0.63%	–
MYL	Exit	Mylan N.V.	$0	–	-100,000	–	-0.64%	–
RAD	Exit	Rite Aid Corp	$0	–	-665,000	–	-0.64%	–
RVNC	Exit	Revance Therapeutics Inc	$0	–	-148,000	–	-0.70%	–
HTWR	Exit	Heartware Intl Inc	$0	–	-87,000	–	-0.73%	–
MDVN	Exit	Medivation Inc	$0	–	-114,000	–	-0.77%	–
COO	Exit	Cooper Companies Inc (The)	$0	–	-33,000	–	-0.78%	–
MRK	Exit	Merck & Co Inc	$0	–	-100,000	–	-0.79%	–
SUPN	Exit	Supernus Pharmaceuticals Inc	$0	–	-353,328	–	-0.79%	–
ZLTQ	Exit	ZELTIQ Aesthetics Inc	$0	–	-157,000	–	-0.80%	–
ENDP	Exit	Endo International Plc	$0	–	-73,000	–	-0.81%	–
ICPT	Exit	Intercept Pharmaceuticals Inc	$0	–	-32,000	–	-0.85%	–
KERX	Exit	Keryx Biopharmaceuticals Inc	$0	–	-1,563,000	–	-0.88%	–
ABC	Exit	AmerisourceBergen Corp	$0	–	-63,000	–	-0.95%	–
UHS	Exit	Universal Health Services Inc B	$0	–	-48,900	–	-0.97%	–
ALNY	Exit	Alnylam Pharmaceuticals Inc	$0	–	-76,000	–	-0.97%	–
JAZZ	Exit	Jazz Pharmaceuticals Plc	$0	–	-46,700	–	-0.99%	–
ACAD	Exit	Acadia Pharmaceuticals Inc	$0	–	-196,000	–	-1.03%	–
ZBH	Exit	Zimmer Biomet Hgs Inc	$0	–	-70,000	–	-1.05%	–
ITCI	Exit	Intra-Cellular Therapies Inc	$0	–	-165,000	–	-1.05%	–
CERN	Exit	Cerner Corp	$0	–	-116,000	–	-1.11%	–
ABMD	Exit	Abiomed Inc	$0	–	-76,000	–	-1.12%	–
DXCM	Exit	Dexcom Inc	$0	–	-84,000	–	-1.15%	–
NKTR	Exit	Nektar Therapeutics	$0	–	-688,000	–	-1.20%	–
REGN	Exit	Regeneron Pharmaceuticals Inc	$0	–	-16,500	–	-1.22%	–
ESRX	Exit	Express Scripts Hg Co	$0	–	-96,000	–	-1.24%	–
CEMP	Exit	Cempra Inc	$0	–	-298,000	–	-1.32%	–
LH	Exit	Laboratory Corp of America Hgs	$0	–	-81,000	–	-1.40%	–
EW	Exit	Edwards Lifesciences Corp	$0	–	-62,000	–	-1.40%	–
HNT	Exit	Health Net Inc	$0	–	-150,000	–	-1.44%	–
BMRN	Exit	BioMarin Pharmaceutical Inc	$0	–	-86,000	–	-1.44%	–
CVS	Exit	CVS Health Corp	$0	–	-97,000	–	-1.49%	–
CYH	Exit	Community Health Syst Inc	$0	–	-220,000	–	-1.50%	–
CNC	Exit	Centene Corp	$0	–	-175,000	–	-1.51%	–
PRGO	Exit	Perrigo Co Plc	$0	–	-65,000	–	-1.63%	–
VRTX	Exit	Vertex Pharmaceuticals Inc	$0	–	-105,000	–	-1.74%	–
GILD	Exit	Gilead Sciences Inc	$0	–	-115,000	–	-1.80%	–
BMY	Exit	Bristol Myers Squibb Co	$0	–	-192,000	–	-1.81%	–
ABBV	Exit	AbbVie Inc	$0	–	-210,000	–	-1.82%	–
STJ	Exit	St Jude Medical Inc	$0	–	-190,000	–	-1.91%	–
INCY	Exit	Incyte Corp Ltd	$0	–	-109,000	–	-1.92%	–
BDX	Exit	Becton Dickinson & Co	$0	–	-91,000	–	-1.92%	–
CAH	Exit	Cardinal Health Inc	$0	–	-159,000	–	-1.95%	–
AGN	Exit	Allergan Plc	$0	–	-46,000	–	-1.99%	–
PFE	Exit	Pfizer Inc	$0	–	-421,000	–	-2.11%	–
HCA	Exit	HCA Holdings Inc	$0	–	-180,000	–	-2.22%	–
MCK	Exit	McKesson Corp	$0	–	-77,000	–	-2.27%	–
CI	Exit	Cigna Corp	$0	–	-105,900	–	-2.28%	–
HUM	Exit	Humana Inc	$0	–	-80,000	–	-2.28%	–
CELG	Exit	Celgene Corp	$0	–	-136,000	–	-2.34%	–
ALKS	Exit	Alkermes Plc	$0	–	-255,000	–	-2.38%	–
ANTM	Exit	Anthem Inc	$0	–	-107,000	–	-2.39%	–
AET	Exit	Aetna Inc	$0	–	-138,000	–	-2.41%	–
LLY	Exit	Eli Lilly & Co	$0	–	-185,000	–	-2.47%	–
UNH	Exit	United Health Group Inc	$0	–	-147,000	–	-2.72%	–
MDT	Exit	Medtronic Plc	$0	–	-265,000	–	-2.83%	–
ALXN	Exit	Alexion Pharmaceuticals Inc	$0	–	-115,000	–	-2.87%	–
AMGN	Exit	Amgen Inc	$0	–	-135,000	–	-2.98%	–

Q3 2015

			Value		Shares		↓ Weighting
AMGN	Buy	Amgen Inc	$18,673,000	+76.3%	135,000	+95.7%	2.98%	+134.0%
ALXN	Sell	Alexion Pharmaceuticals Inc	$17,985,000	-25.1%	115,000	-13.4%	2.87%	-0.6%
MDT	Buy	Medtronic Plc	$17,739,000	+54.6%	265,000	+71.2%	2.83%	+105.2%
UNH	Sell	United Health Group Inc	$17,053,000	-39.5%	147,000	-36.4%	2.72%	-19.7%
LLY	Buy	Eli Lilly & Co	$15,483,000	+6.0%	185,000	+5.7%	2.47%	+40.6%
AET	Buy	Aetna Inc	$15,099,000	+132.3%	138,000	+170.6%	2.41%	+208.2%
ANTM	Buy	Anthem Inc	$14,980,000	+57.4%	107,000	+84.5%	2.39%	+108.9%
ALKS	Sell	Alkermes Plc	$14,961,000	-33.4%	255,000	-26.9%	2.38%	-11.6%
CELG	Sell	Celgene Corp	$14,711,000	-7.2%	136,000	-0.7%	2.34%	+23.2%
HUM	New	Humana Inc	$14,320,000	–	80,000	–	2.28%	–
CI	New	Cigna Corp	$14,299,000	–	105,900	–	2.28%	–
MCK	Buy	McKesson Corp	$14,247,000	+153.5%	77,000	+208.0%	2.27%	+236.4%
HCA	Buy	HCA Holdings Inc	$13,925,000	+122.4%	180,000	+160.9%	2.22%	+195.2%
PFE	New	Pfizer Inc	$13,224,000	–	421,000	–	2.11%	–
AGN	Buy	Allergan Plc	$12,503,000	-1.9%	46,000	+9.5%	1.99%	+30.2%
CAH	Sell	Cardinal Health Inc	$12,214,000	-32.1%	159,000	-26.0%	1.95%	-9.9%
BDX	Buy	Becton Dickinson & Co	$12,072,000	+42.0%	91,000	+51.7%	1.92%	+88.5%
INCY	Buy	Incyte Corp Ltd	$12,026,000	+7.3%	109,000	+1.4%	1.92%	+42.5%
STJ	Buy	St Jude Medical Inc	$11,987,000	+97.6%	190,000	+128.9%	1.91%	+162.5%
ABBV	Sell	AbbVie Inc	$11,426,000	-27.0%	210,000	-9.9%	1.82%	-3.1%
BMY	Sell	Bristol Myers Squibb Co	$11,366,000	-13.7%	192,000	-3.0%	1.81%	+14.5%
GILD	Sell	Gilead Sciences Inc	$11,292,000	-25.8%	115,000	-11.5%	1.80%	-1.5%
VRTX	Buy	Vertex Pharmaceuticals Inc	$10,935,000	+61.0%	105,000	+90.9%	1.74%	+113.6%
PRGO	Buy	Perrigo Co Plc	$10,223,000	+17.7%	65,000	+38.3%	1.63%	+56.3%
CNC	Buy	Centene Corp	$9,490,000	+118.6%	175,000	+224.1%	1.51%	+190.4%
CYH	Buy	Community Health Syst Inc	$9,409,000	+35.8%	220,000	+100.0%	1.50%	+80.3%
CVS	Sell	CVS Health Corp	$9,359,000	-51.5%	97,000	-47.3%	1.49%	-35.6%
BMRN	Sell	BioMarin Pharmaceutical Inc	$9,058,000	-28.0%	86,000	-6.5%	1.44%	-4.4%
HNT	New	Health Net Inc	$9,033,000	–	150,000	–	1.44%	–
EW	Buy	Edwards Lifesciences Corp	$8,815,000	+121.0%	62,000	+121.4%	1.40%	+193.3%
LH	Buy	Laboratory Corp of America Hgs	$8,786,000	+3.5%	81,000	+15.7%	1.40%	+37.5%
CEMP	Buy	Cempra Inc	$8,296,000	-12.9%	298,000	+7.5%	1.32%	+15.6%
ESRX	Buy	Express Scripts Hg Co	$7,772,000	+10.6%	96,000	+21.5%	1.24%	+46.8%
REGN	Sell	Regeneron Pharmaceuticals Inc	$7,675,000	-20.8%	16,500	-13.2%	1.22%	+5.2%
NKTR	Sell	Nektar Therapeutics	$7,540,000	-35.7%	688,000	-26.6%	1.20%	-14.6%
DXCM	Sell	Dexcom Inc	$7,212,000	-2.0%	84,000	-8.7%	1.15%	+30.1%
ABMD	Sell	Abiomed Inc	$7,050,000	+3.1%	76,000	-26.9%	1.12%	+36.9%
CERN	Buy	Cerner Corp	$6,955,000	+21.3%	116,000	+39.8%	1.11%	+61.2%
ITCI	Sell	Intra-Cellular Therapies Inc	$6,607,000	+0.4%	165,000	-19.9%	1.05%	+33.3%
ZBH	New	Zimmer Biomet Hgs Inc	$6,575,000	–	70,000	–	1.05%	–
ACAD	Buy	Acadia Pharmaceuticals Inc	$6,482,000	-19.0%	196,000	+2.6%	1.03%	+7.5%
JAZZ	Sell	Jazz Pharmaceuticals Plc	$6,202,000	-49.7%	46,700	-33.3%	0.99%	-33.2%
ALNY	Buy	Alnylam Pharmaceuticals Inc	$6,107,000	-17.0%	76,000	+23.8%	0.97%	+10.2%
UHS	Sell	Universal Health Services Inc B	$6,103,000	-33.9%	48,900	-24.8%	0.97%	-12.3%
ABC	Buy	AmerisourceBergen Corp	$5,984,000	+34.0%	63,000	+50.0%	0.95%	+78.0%
KERX	Buy	Keryx Biopharmaceuticals Inc	$5,502,000	+3.2%	1,563,000	+192.7%	0.88%	+37.0%
ICPT	Buy	Intercept Pharmaceuticals Inc	$5,308,000	-8.4%	32,000	+33.3%	0.85%	+21.6%
ENDP	Buy	Endo International Plc	$5,057,000	+7.7%	73,000	+23.8%	0.81%	+42.9%
ZLTQ	Buy	ZELTIQ Aesthetics Inc	$5,029,000	+32.3%	157,000	+21.7%	0.80%	+75.5%
SUPN	Sell	Supernus Pharmaceuticals Inc	$4,957,000	-30.0%	353,328	-15.3%	0.79%	-7.1%
MRK	Sell	Merck & Co Inc	$4,939,000	-66.6%	100,000	-61.5%	0.79%	-55.7%
COO	Sell	Cooper Companies Inc (The)	$4,912,000	-32.7%	33,000	-19.5%	0.78%	-10.6%
MDVN	Buy	Medivation Inc	$4,845,000	-7.8%	114,000	+147.8%	0.77%	+22.3%
HTWR	Buy	Heartware Intl Inc	$4,551,000	+298.9%	87,000	+454.1%	0.73%	+429.9%
RVNC	Sell	Revance Therapeutics Inc	$4,404,000	-19.9%	148,000	-14.0%	0.70%	+6.2%
RAD	Sell	Rite Aid Corp	$4,037,000	-73.4%	665,000	-63.4%	0.64%	-64.7%
MYL	Buy	Mylan N.V.	$4,026,000	-28.5%	100,000	+20.5%	0.64%	-5.0%
CLVS	Sell	Clovis Oncology Inc	$3,954,000	-26.0%	43,000	-29.2%	0.63%	-1.7%
LBIO	Buy	Lion Biotechnologies Inc	$3,935,000	-22.8%	683,108	+22.9%	0.63%	+2.5%
CYBX	Sell	Cyberonics Inc	$3,464,000	-41.7%	57,000	-43.0%	0.55%	-22.7%
ISIS	Sell	Isis Pharmaceuticals Inc	$3,234,000	-40.2%	80,000	-14.9%	0.52%	-20.6%
KITE	Sell	Kite Pharma Inc	$3,174,000	-21.1%	57,000	-13.6%	0.51%	+4.8%
CLDX	Buy	Celldex Therapeutics Inc	$3,109,000	-37.4%	295,000	+49.7%	0.50%	-16.9%
PTLA	Sell	Portola Pharmaceuticals Inc	$3,026,000	-12.6%	71,000	-6.6%	0.48%	+15.9%
PODD	Buy	Insulet Corp	$2,850,000	+2.2%	110,000	+22.2%	0.45%	+35.5%
ELGX	Buy	Endologix Inc	$2,808,000	+2.3%	229,000	+27.9%	0.45%	+35.8%
OREX	Buy	Orexigen Therapeutics Inc	$2,509,000	-35.8%	1,189,000	+50.7%	0.40%	-14.7%
ARIA	Sell	Ariad Pharmaceuticals Inc	$2,511,000	-32.5%	430,000	-4.4%	0.40%	-10.5%
CATB	Buy	Catabasis Pharmaceuticals Inc	$2,430,000	-25.0%	300,427	+13.2%	0.39%	-0.5%
ESPR	Sell	Esperion Therapeutics Inc	$2,359,000	-74.2%	100,000	-10.7%	0.38%	-65.8%
XNCR	Sell	Xencor Inc	$2,217,000	-46.3%	181,303	-3.6%	0.35%	-28.8%
LXRX	Buy	Lexicon Pharmaceuticals Inc	$2,148,000	+56.1%	200,000	+17.0%	0.34%	+107.3%
CMRX	Sell	Chimerix Inc	$2,139,000	-29.8%	56,000	-15.2%	0.34%	-6.8%
TTPH	Buy	Tetraphase Pharmaceuticals Inc	$1,679,000	-67.0%	225,000	+109.5%	0.27%	-56.2%
ANTH	Sell	Anthera Pharmaceuticals Inc	$1,523,000	-71.5%	250,000	-59.7%	0.24%	-62.1%
DVAX	Sell	Dynavax Technologies Corp	$1,350,000	-53.1%	55,000	-55.2%	0.22%	-37.9%
RGLS	New	Regulus Therapeutic Inc	$1,308,000	–	200,000	–	0.21%	–
HOLX	Sell	Hologic Inc	$1,303,000	-63.2%	33,301	-64.2%	0.21%	-51.1%
EPZM	Exit	Epizyme Inc	$0	–	-131,785	–	-0.38%	–
TMO	Exit	Thermo Fisher Scientific Inc	$0	–	-37,000	–	-0.58%	–
AMSG	Exit	Amsurg Corp	$0	–	-70,000	–	-0.59%	–
THOR	Exit	Thoratec Corp	$0	–	-110,000	–	-0.59%	–
RCPT	Exit	Receptos Inc	$0	–	-28,000	–	-0.64%	–
TEVA	Exit	Teva Pharma Ind Ltd ADR repr 1 Shareadr	$0	–	-92,000	–	-0.65%	–
VRX	Exit	Valeant Pharm Intl Inc	$0	–	-32,248	–	-0.86%	–
JNJ	Exit	Johnson & Johnson	$0	–	-191,000	–	-2.24%	–
BIIB	Exit	Biogen Inc	$0	–	-50,291	–	-2.44%	–
	Exit	Select Sector SPDR Tr SBI Healthcareput	$0	–	-700,000	–	-6.25%	–
	Exit	iShares Tr Nasdaq Biotech ETFput	$0	–	-200,000	–	-8.86%	–

Q2 2015

			Value		Shares		↓ Weighting
	New	iShares Tr Nasdaq Biotech ETFput	$73,794,000	–	200,000	–	8.86%	–
	New	Select Sector SPDR Tr SBI Healthcareput	$52,073,000	–	700,000	–	6.25%	–
UNH	New	United Health Group Inc	$28,182,000	–	231,000	–	3.38%	–
ALXN	New	Alexion Pharmaceuticals Inc	$24,006,000	–	132,800	–	2.88%	–
ALKS	New	Alkermes Plc	$22,455,000	–	349,000	–	2.70%	–
BIIB	New	Biogen Inc	$20,315,000	–	50,291	–	2.44%	–
CVS	New	CVS Health Corp	$19,298,000	–	184,000	–	2.32%	–
JNJ	New	Johnson & Johnson	$18,615,000	–	191,000	–	2.24%	–
CAH	New	Cardinal Health Inc	$17,985,000	–	215,000	–	2.16%	–
CELG	New	Celgene Corp	$15,856,000	–	137,000	–	1.90%	–
ABBV	New	AbbVie Inc	$15,655,000	–	233,000	–	1.88%	–
GILD	New	Gilead Sciences Inc	$15,220,000	–	130,000	–	1.83%	–
RAD	New	Rite Aid Corp	$15,172,000	–	1,817,000	–	1.82%	–
MRK	New	Merck & Co Inc	$14,802,000	–	260,000	–	1.78%	–
LLY	New	Eli Lilly & Co	$14,611,000	–	175,000	–	1.76%	–
BMY	New	Bristol Myers Squibb Co	$13,175,000	–	198,000	–	1.58%	–
AGN	New	Allergan Plc	$12,745,000	–	42,000	–	1.53%	–
BMRN	New	BioMarin Pharmaceutical Inc	$12,584,000	–	92,000	–	1.51%	–
JAZZ	New	Jazz Pharmaceuticals Plc	$12,325,000	–	70,000	–	1.48%	–
NKTR	New	Nektar Therapeutics	$11,722,000	–	937,000	–	1.41%	–
MDT	New	Medtronic Plc	$11,471,000	–	154,800	–	1.38%	–
INCY	New	Incyte Corp Ltd	$11,203,000	–	107,502	–	1.34%	–
AMGN	New	Amgen Inc	$10,593,000	–	69,000	–	1.27%	–
REGN	New	Regeneron Pharmaceuticals Inc	$9,692,000	–	19,000	–	1.16%	–
CEMP	New	Cempra Inc	$9,523,000	–	277,161	–	1.14%	–
ANTM	New	Anthem Inc	$9,520,000	–	58,000	–	1.14%	–
UHS	New	Universal Health Services Inc B	$9,237,000	–	65,000	–	1.11%	–
ESPR	New	Esperion Therapeutics Inc	$9,157,000	–	112,000	–	1.10%	–
PRGO	New	Perrigo Co Plc	$8,687,000	–	47,000	–	1.04%	–
BDX	New	Becton Dickinson & Co	$8,499,000	–	60,000	–	1.02%	–
LH	New	Laboratory Corp of America Hgs	$8,485,000	–	70,000	–	1.02%	–
ACAD	New	Acadia Pharmaceuticals Inc	$7,999,000	–	191,000	–	0.96%	–
ALNY	New	Alnylam Pharmaceuticals Inc	$7,360,000	–	61,400	–	0.88%	–
DXCM	New	Dexcom Inc	$7,358,000	–	92,000	–	0.88%	–
COO	New	Cooper Companies Inc (The)	$7,297,000	–	41,000	–	0.88%	–
VRX	New	Valeant Pharm Intl Inc	$7,164,000	–	32,248	–	0.86%	–
SUPN	New	Supernus Pharmaceuticals Inc	$7,081,000	–	417,000	–	0.85%	–
ESRX	New	Express Scripts Hg Co	$7,026,000	–	79,000	–	0.84%	–
CYH	New	Community Health Syst Inc	$6,927,000	–	110,000	–	0.83%	–
ABMD	New	Abiomed Inc	$6,836,000	–	104,000	–	0.82%	–
VRTX	New	Vertex Pharmaceuticals Inc	$6,791,000	–	55,000	–	0.82%	–
ITCI	New	Intra-Cellular Therapies Inc	$6,582,000	–	206,000	–	0.79%	–
AET	New	Aetna Inc	$6,500,000	–	51,000	–	0.78%	–
HCA	New	HCA Holdings Inc	$6,260,000	–	69,000	–	0.75%	–
STJ	New	St Jude Medical Inc	$6,065,000	–	83,000	–	0.73%	–
CYBX	New	Cyberonics Inc	$5,946,000	–	100,000	–	0.71%	–
ICPT	New	Intercept Pharmaceuticals Inc	$5,793,000	–	24,000	–	0.70%	–
CERN	New	Cerner Corp	$5,732,000	–	83,000	–	0.69%	–
MYL	New	Mylan N.V.	$5,632,000	–	83,000	–	0.68%	–
MCK	New	McKesson Corp	$5,620,000	–	25,000	–	0.68%	–
RVNC	New	Revance Therapeutics Inc	$5,501,000	–	172,000	–	0.66%	–
TEVA	New	Teva Pharma Ind Ltd ADR repr 1 Shareadr	$5,437,000	–	92,000	–	0.65%	–
ISIS	New	Isis Pharmaceuticals Inc	$5,410,000	–	94,000	–	0.65%	–
CLVS	New	Clovis Oncology Inc	$5,340,000	–	60,765	–	0.64%	–
ANTH	New	Anthera Pharmaceuticals Inc	$5,341,000	–	619,600	–	0.64%	–
KERX	New	Keryx Biopharmaceuticals Inc	$5,329,000	–	534,000	–	0.64%	–
RCPT	New	Receptos Inc	$5,321,000	–	28,000	–	0.64%	–
MDVN	New	Medivation Inc	$5,253,000	–	46,000	–	0.63%	–
LBIO	New	Lion Biotechnologies Inc	$5,099,000	–	556,000	–	0.61%	–
TTPH	New	Tetraphase Pharmaceuticals Inc	$5,095,000	–	107,400	–	0.61%	–
CLDX	New	Celldex Therapeutics Inc	$4,968,000	–	197,000	–	0.60%	–
THOR	New	Thoratec Corp	$4,903,000	–	110,000	–	0.59%	–
AMSG	New	Amsurg Corp	$4,897,000	–	70,000	–	0.59%	–
TMO	New	Thermo Fisher Scientific Inc	$4,801,000	–	37,000	–	0.58%	–
ENDP	New	Endo International Plc	$4,697,000	–	58,976	–	0.56%	–
ABC	New	AmerisourceBergen Corp	$4,466,000	–	42,000	–	0.54%	–
CNC	New	Centene Corp	$4,342,000	–	54,000	–	0.52%	–
XNCR	New	Xencor Inc	$4,130,000	–	188,000	–	0.50%	–
MGNX	New	Macrogenics Inc	$4,099,000	–	107,959	–	0.49%	–
KITE	New	Kite Pharma Inc	$4,024,000	–	66,000	–	0.48%	–
EW	New	Edwards Lifesciences Corp	$3,988,000	–	28,000	–	0.48%	–
OREX	New	Orexigen Therapeutics Inc	$3,906,000	–	789,000	–	0.47%	–
HALO	New	Halozyme Therapeutics Inc	$3,884,000	–	172,000	–	0.47%	–
ZLTQ	New	ZELTIQ Aesthetics Inc	$3,802,000	–	129,000	–	0.46%	–
ARIA	New	Ariad Pharmaceuticals Inc	$3,722,000	–	450,000	–	0.45%	–
HOLX	New	Hologic Inc	$3,540,000	–	93,000	–	0.42%	–
PTLA	New	Portola Pharmaceuticals Inc	$3,462,000	–	76,000	–	0.42%	–
CATB	New	Catabasis Pharmaceuticals Inc	$3,241,000	–	265,427	–	0.39%	–
EPZM	New	Epizyme Inc	$3,163,000	–	131,785	–	0.38%	–
CPHD	New	Cepheid Inc	$3,119,000	–	51,000	–	0.38%	–
CMRX	New	Chimerix Inc	$3,049,000	–	66,000	–	0.37%	–
TSRO	New	Tesaro Inc	$2,992,000	–	50,899	–	0.36%	–
RIGL	New	Rigel Pharmaceuticals Inc	$2,969,000	–	925,000	–	0.36%	–
DVAX	New	Dynavax Technologies Corp	$2,877,000	–	122,835	–	0.35%	–
PODD	New	Insulet Corp	$2,789,000	–	90,000	–	0.34%	–
OMCL	New	Omnicell Inc	$2,791,000	–	74,000	–	0.34%	–
ELGX	New	Endologix Inc	$2,746,000	–	179,000	–	0.33%	–
ARRY	New	Array BioPharma Inc	$2,668,000	–	370,000	–	0.32%	–
AAVL	New	Avalanche Biotechnologies Inc	$2,501,000	–	154,006	–	0.30%	–
ACHN	New	Achillion Pharmaceuticals Inc	$2,481,000	–	280,000	–	0.30%	–
TNDM	New	Tandem Diabetes Care Inc	$2,266,000	–	209,000	–	0.27%	–
MRTX	New	Mirati Therapeutics Inc	$1,574,000	–	50,000	–	0.19%	–
LXRX	New	Lexicon Pharmaceuticals Inc	$1,376,000	–	170,915	–	0.16%	–
HTWR	New	Heartware Intl Inc	$1,141,000	–	15,700	–	0.14%	–
THLD	New	Threshold Pharmaceuticals	$814,000	–	201,537	–	0.10%	–
BINDQ	New	BIND Therapeutics Inc	$746,000	–	133,535	–	0.09%	–

Q4 2014

			Value		Shares		↓ Weighting
ECYT	Exit	Endocyte Inc	$0	–	-49,297	–	-0.09%	–
SRNE	Exit	Sorrento Therapeutics Inc	$0	–	-72,535	–	-0.10%	–
LXRX	Exit	Lexicon Pharmaceuticals Inc	$0	–	-294,805	–	-0.12%	–
THLD	Exit	Threshold Pharmaceuticals	$0	–	-121,537	–	-0.13%	–
5100PS	Exit	Volcano Corp	$0	–	-44,221	–	-0.14%	–
OCR	Exit	Omnicare Inc	$0	–	-10,000	–	-0.18%	–
EXEL	Exit	Exelixis Inc	$0	–	-500,000	–	-0.22%	–
ANTH	Exit	Anthera Pharmaceuticals Inc	$0	–	-400,000	–	-0.22%	–
BINDQ	Exit	BIND Therapeutics Inc	$0	–	-108,535	–	-0.27%	–
ALNY	Exit	Alnylam Pharmaceuticals Inc	$0	–	-13,030	–	-0.30%	–
	Exit	Auxilium Pharmaceuticals Inc	$0	–	-44,953	–	-0.39%	–
ARRY	Exit	Array BioPharma Inc	$0	–	-379,199	–	-0.40%	–
SNSS	Exit	Sunesis Pharmaceuticals Inc	$0	–	-201,171	–	-0.42%	–
TSRO	Exit	Tesaro Inc	$0	–	-55,000	–	-0.43%	–
JAZZ	Exit	Jazz Pharmaceuticals Plc	$0	–	-10,000	–	-0.47%	–
SYK	Exit	Stryker Corp	$0	–	-21,000	–	-0.50%	–
DVAX	Exit	Dynavax Technologies Corp	$0	–	-1,228,354	–	-0.51%	–
MGNX	Exit	Macrogenics Inc	$0	–	-85,000	–	-0.52%	–
CLDX	Exit	Celldex Therapeutics Inc	$0	–	-138,000	–	-0.52%	–
LGND	Exit	Ligand Pharmaceuticals Inc B	$0	–	-39,000	–	-0.54%	–
SUPN	Exit	Supernus Pharmaceuticals Inc	$0	–	-212,000	–	-0.54%	–
AFL	Exit	Aflac Inc	$0	–	-32,000	–	-0.55%	–
KERX	Exit	Keryx Biopharmaceuticals Inc	$0	–	-136,000	–	-0.55%	–
NUVA	Exit	NuVasive Inc	$0	–	-54,000	–	-0.55%	–
IMGN	Exit	ImmunoGen Inc	$0	–	-180,000	–	-0.56%	–
LLY	Exit	Eli Lilly & Co	$0	–	-30,000	–	-0.57%	–
CPHD	Exit	Cepheid Inc	$0	–	-45,000	–	-0.58%	–
INFI	Exit	Infinity Pharm Inc	$0	–	-148,000	–	-0.58%	–
ACHN	Exit	Achillion Pharmaceuticals Inc	$0	–	-200,000	–	-0.58%	–
CI	Exit	Cigna Corp	$0	–	-22,000	–	-0.58%	–
ESPR	Exit	Esperion Therapeutics Inc	$0	–	-82,921	–	-0.59%	–
HPTX	Exit	Hyperion Therapeutics Inc	$0	–	-80,369	–	-0.59%	–
RVNC	Exit	Revance Therapeutics Inc	$0	–	-105,255	–	-0.60%	–
CFN	Exit	CareFusion Corp	$0	–	-45,000	–	-0.60%	–
EW	Exit	Edwards Lifesciences Corp	$0	–	-20,000	–	-0.60%	–
ITCI	Exit	Intra-Cellular Therapies Inc	$0	–	-149,000	–	-0.60%	–
OREX	Exit	Orexigen Therapeutics Inc	$0	–	-494,000	–	-0.62%	–
AMSG	Exit	Amsurg Corp	$0	–	-42,300	–	-0.62%	–
ELGX	Exit	Endologix Inc	$0	–	-200,000	–	-0.62%	–
PRXL	Exit	Parexel Intl Corp	$0	–	-34,000	–	-0.63%	–
AEGR	Exit	Aegerion Pharmaceuticals Inc	$0	–	-65,000	–	-0.64%	–
HOLX	Exit	Hologic Inc	$0	–	-90,000	–	-0.64%	–
CYBX	Exit	Cyberonics Inc	$0	–	-43,000	–	-0.64%	–
ISIS	Exit	Isis Pharmaceuticals Inc	$0	–	-58,000	–	-0.66%	–
ARIA	Exit	Ariad Pharmaceuticals Inc	$0	–	-423,000	–	-0.67%	–
PODD	Exit	Insulet Corp	$0	–	-62,911	–	-0.68%	–
CERN	Exit	Cerner Corp	$0	–	-40,000	–	-0.70%	–
MD	Exit	Mednax Inc	$0	–	-44,000	–	-0.71%	–
BCR	Exit	CR Bard Inc	$0	–	-17,000	–	-0.71%	–
CNC	Exit	Centene Corp	$0	–	-30,000	–	-0.73%	–
BSX	Exit	Boston Scientific Corp	$0	–	-214,000	–	-0.74%	–
CLVS	Exit	Clovis Oncology Inc	$0	–	-57,000	–	-0.76%	–
CLDN	Exit	Celladon Corp	$0	–	-256,556	–	-0.79%	–
ESRX	Exit	Express Scripts Hg Co	$0	–	-39,000	–	-0.81%	–
	Exit	Allscripts Healthcare So Inc	$0	–	-210,000	–	-0.82%	–
AET	Exit	Aetna Inc	$0	–	-35,000	–	-0.83%	–
MASI	Exit	Masimo Corp	$0	–	-135,000	–	-0.84%	–
AGN	Exit	Allergan Inc	$0	–	-16,500	–	-0.86%	–
ABMD	Exit	Abiomed Inc	$0	–	-120,736	–	-0.88%	–
UNH	Exit	United Health Group Inc	$0	–	-35,000	–	-0.88%	–
TEVA	Exit	Teva Pharma Ind Ltd ADR repr 1 Share	$0	–	-59,000	–	-0.93%	–
AMGN	Exit	Amgen Inc	$0	–	-23,000	–	-0.95%	–
STJ	Exit	St Jude Medical Inc	$0	–	-57,000	–	-1.00%	–
THOR	Exit	Thoratec Corp	$0	–	-133,800	–	-1.05%	–
MDVN	Exit	Medivation Inc	$0	–	-38,000	–	-1.10%	–
MRK	Exit	Merck Co Inc	$0	–	-65,000	–	-1.13%	–
ABC	Exit	AmerisourceBergen Corp	$0	–	-50,000	–	-1.13%	–
CTRX	Exit	Catamaran Corp	$0	–	-93,000	–	-1.15%	–
HCA	Exit	HCA Holdings Inc	$0	–	-58,000	–	-1.20%	–
V107SC	Exit	WellPoint Inc	$0	–	-35,000	–	-1.23%	–
DXCM	Exit	Dexcom Inc	$0	–	-106,000	–	-1.24%	–
MCK	Exit	McKesson Corp	$0	–	-22,000	–	-1.25%	–
CYH	Exit	Community Health Syst Inc	$0	–	-79,000	–	-1.27%	–
ICPT	Exit	Intercept Pharmaceuticals Inc	$0	–	-18,600	–	-1.29%	–
CAH	Exit	Cardinal Health Inc	$0	–	-59,000	–	-1.29%	–
PCYC	Exit	Pharmacyclics Inc	$0	–	-38,000	–	-1.31%	–
REGN	Exit	Regeneron Pharmaceuticals Inc	$0	–	-13,000	–	-1.35%	–
B108PS	Exit	Actavis Plc	$0	–	-20,000	–	-1.41%	–
VRTX	Exit	Vertex Pharmaceuticals Inc	$0	–	-43,000	–	-1.41%	–
BMY	Exit	Bristol Myers Squibb Co	$0	–	-99,000	–	-1.48%	–
INCY	Exit	Incyte Corp Ltd	$0	–	-107,000	–	-1.54%	–
RAD	Exit	Rite Aid Corp	$0	–	-1,118,000	–	-1.58%	–
ACAD	Exit	Acadia Pharmaceuticals Inc	$0	–	-219,000	–	-1.59%	–
CVS	Exit	CVS Health Corp	$0	–	-72,000	–	-1.68%	–
P103PS	Exit	NPS Pharmaceuticals Inc	$0	–	-224,000	–	-1.70%	–
TMO	Exit	Thermo Fisher Scientific Inc	$0	–	-49,000	–	-1.75%	–
NKTR	Exit	Nektar Therapeutics	$0	–	-508,000	–	-1.80%	–
ABBV	Exit	AbbVie Inc	$0	–	-111,000	–	-1.88%	–
F113PS	Exit	Covidien Plc	$0	–	-76,000	–	-1.92%	–
BMRN	Exit	BioMarin Pharmaceutical Inc	$0	–	-92,000	–	-1.94%	–
MDT	Exit	Myriad Genetics Inc	$0	–	-133,800	–	-2.01%	–
CELG	Exit	Celgene Corp	$0	–	-80,000	–	-2.22%	–
GILD	Exit	Gilead Sciences Inc	$0	–	-72,000	–	-2.24%	–
SLXP	Exit	Salix Pharmaceutical Ltd	$0	–	-54,000	–	-2.47%	–
BIIB	Exit	Biogen IDEC Inc	$0	–	-29,000	–	-2.81%	–
ALXN	Exit	Alexion Pharmaceuticals Inc	$0	–	-58,000	–	-2.82%	–
UHS	Exit	Universal Health Services Inc B	$0	–	-98,700	–	-3.02%	–
ALKS	Exit	Alkermes Plc	$0	–	-266,000	–	-3.34%	–
	Exit	Johnson & Johnsoncall	$0	–	-140,000	–	-4.37%	–

Q3 2014

			Value		Shares		↓ Weighting
	New	Johnson & Johnsoncall	$14,923,000	–	140,000	–	4.37%	–
ALKS	Buy	Alkermes Plc	$11,403,000	+34.9%	266,000	+58.3%	3.34%	+33.1%
UHS	Buy	Universal Health Services Inc B	$10,314,000	+259.0%	98,700	+229.0%	3.02%	+254.0%
ALXN	Sell	Alexion Pharmaceuticals Inc	$9,618,000	-33.8%	58,000	-37.6%	2.82%	-34.7%
BIIB	Sell	Biogen IDEC Inc	$9,593,000	-39.2%	29,000	-42.0%	2.81%	-40.0%
SLXP	Buy	Salix Pharmaceutical Ltd	$8,437,000	+57.3%	54,000	+24.2%	2.47%	+55.2%
GILD	Sell	Gilead Sciences Inc	$7,664,000	-48.6%	72,000	-60.0%	2.24%	-49.3%
CELG	Sell	Celgene Corp	$7,582,000	-43.7%	80,000	-49.0%	2.22%	-44.4%
MDT	New	Myriad Genetics Inc	$6,867,000	–	133,800	–	2.01%	–
BMRN	Sell	BioMarin Pharmaceutical Inc	$6,639,000	-28.9%	92,000	-38.7%	1.94%	-29.8%
F113PS	Sell	Covidien Plc	$6,575,000	-57.4%	76,000	-55.6%	1.92%	-57.9%
ABBV	New	AbbVie Inc	$6,411,000	–	111,000	–	1.88%	–
NKTR	Buy	Nektar Therapeutics	$6,132,000	+84.0%	508,000	+95.4%	1.80%	+81.5%
TMO	Buy	Thermo Fisher Scientific Inc	$5,963,000	+53.1%	49,000	+48.5%	1.75%	+51.2%
P103PS	Buy	NPS Pharmaceuticals Inc	$5,824,000	+163.1%	224,000	+234.3%	1.70%	+159.5%
CVS	Buy	CVS Health Corp	$5,730,000	+52.0%	72,000	+44.0%	1.68%	+50.1%
ACAD	Sell	Acadia Pharmaceuticals Inc	$5,422,000	+4.3%	219,000	-4.8%	1.59%	+3.0%
RAD	Buy	Rite Aid Corp	$5,411,000	+190.3%	1,118,000	+330.0%	1.58%	+186.4%
INCY	Sell	Incyte Corp Ltd	$5,248,000	-30.1%	107,000	-19.5%	1.54%	-31.0%
BMY	Buy	Bristol Myers Squibb Co	$5,067,000	+22.9%	99,000	+16.5%	1.48%	+21.3%
VRTX	Sell	Vertex Pharmaceuticals Inc	$4,829,000	-49.8%	43,000	-57.7%	1.41%	-50.5%
B108PS	Sell	Actavis Plc	$4,826,000	-13.5%	20,000	-20.0%	1.41%	-14.6%
REGN	Sell	Regeneron Pharmaceuticals Inc	$4,598,000	-27.7%	13,000	-42.2%	1.35%	-28.6%
PCYC	Sell	Pharmacyclics Inc	$4,462,000	-9.6%	38,000	-30.9%	1.31%	-10.8%
CAH	Sell	Cardinal Health Inc	$4,420,000	-34.9%	59,000	-40.4%	1.29%	-35.7%
ICPT	New	Intercept Pharmaceuticals Inc	$4,402,000	–	18,600	–	1.29%	–
CYH	Sell	Community Health Syst Inc	$4,328,000	-6.5%	79,000	-22.5%	1.27%	-7.7%
MCK	Buy	McKesson Corp	$4,283,000	+7.0%	22,000	+2.3%	1.25%	+5.6%
DXCM	Buy	Dexcom Inc	$4,239,000	+6.9%	106,000	+6.0%	1.24%	+5.4%
V107SC	Buy	WellPoint Inc	$4,186,000	+38.9%	35,000	+25.0%	1.23%	+37.1%
HCA	Sell	HCA Holdings Inc	$4,090,000	+20.9%	58,000	-3.3%	1.20%	+19.3%
CTRX	Buy	Catamaran Corp	$3,920,000	+26.8%	93,000	+32.9%	1.15%	+25.2%
ABC	Buy	AmerisourceBergen Corp	$3,865,000	+86.6%	50,000	+75.4%	1.13%	+84.1%
MRK	Sell	Merck Co Inc	$3,853,000	-14.6%	65,000	-16.7%	1.13%	-15.8%
MDVN	Sell	Medivation Inc	$3,757,000	-6.3%	38,000	-26.9%	1.10%	-7.5%
THOR	Buy	Thoratec Corp	$3,576,000	+52.0%	133,800	+98.2%	1.05%	+50.0%
STJ	Buy	St Jude Medical Inc	$3,427,000	+23.7%	57,000	+42.5%	1.00%	+22.0%
AMGN	Buy	Amgen Inc	$3,231,000	+81.9%	23,000	+53.3%	0.95%	+79.5%
TEVA	Buy	Teva Pharma Ind Ltd ADR repr 1 Share	$3,171,000	+141.9%	59,000	+136.0%	0.93%	+138.6%
UNH	Buy	United Health Group Inc	$3,019,000	+15.4%	35,000	+9.4%	0.88%	+13.9%
ABMD	Buy	Abiomed Inc	$2,998,000	+11.4%	120,736	+12.8%	0.88%	+10.0%
AGN	Sell	Allergan Inc	$2,940,000	-56.6%	16,500	-58.8%	0.86%	-57.1%
MASI	Buy	Masimo Corp	$2,873,000	+39.9%	135,000	+55.2%	0.84%	+38.1%
AET	Buy	Aetna Inc	$2,835,000	+133.1%	35,000	+133.3%	0.83%	+129.9%
	New	Allscripts Healthcare So Inc	$2,817,000	–	210,000	–	0.82%	–
ESRX	Buy	Express Scripts Hg Co	$2,755,000	+297.5%	39,000	+290.0%	0.81%	+291.7%
CLDN	Buy	Celladon Corp	$2,684,000	+264.2%	256,556	+457.7%	0.79%	+258.9%
CLVS	Sell	Clovis Oncology Inc	$2,586,000	-30.6%	57,000	-36.7%	0.76%	-31.6%
BSX	Sell	Boston Scientific Corp	$2,527,000	-52.3%	214,000	-48.4%	0.74%	-53.0%
CNC	Sell	Centene Corp	$2,481,000	-6.2%	30,000	-14.3%	0.73%	-7.5%
BCR	Buy	CR Bard Inc	$2,426,000	+13.1%	17,000	+13.3%	0.71%	+11.6%
MD	Buy	Mednax Inc	$2,412,000	+38.2%	44,000	+46.7%	0.71%	+36.3%
CERN	Buy	Cerner Corp	$2,383,000	+32.0%	40,000	+14.3%	0.70%	+30.2%
PODD	Sell	Insulet Corp	$2,318,000	-41.6%	62,911	-37.1%	0.68%	-42.3%
ARIA	Buy	Ariad Pharmaceuticals Inc	$2,284,000	-8.1%	423,000	+8.5%	0.67%	-9.2%
ISIS	Buy	Isis Pharmaceuticals Inc	$2,252,000	+81.6%	58,000	+61.1%	0.66%	+79.1%
CYBX	Sell	Cyberonics Inc	$2,200,000	-52.4%	43,000	-41.9%	0.64%	-53.0%
HOLX	Buy	Hologic Inc	$2,190,000	+18.3%	90,000	+23.3%	0.64%	+16.8%
AEGR	Buy	Aegerion Pharmaceuticals Inc	$2,170,000	+61.2%	65,000	+55.0%	0.64%	+59.1%
PRXL	Sell	Parexel Intl Corp	$2,145,000	-26.2%	34,000	-38.2%	0.63%	-27.1%
ELGX	Sell	Endologix Inc	$2,120,000	-32.0%	200,000	-2.4%	0.62%	-32.9%
AMSG	Buy	Amsurg Corp	$2,117,000	+70.2%	42,300	+54.9%	0.62%	+68.0%
OREX	Buy	Orexigen Therapeutics Inc	$2,104,000	+13.4%	494,000	+64.6%	0.62%	+12.0%
ITCI	Buy	Intra-Cellular Therapies Inc	$2,043,000	+23.3%	149,000	+51.6%	0.60%	+21.5%
EW	Sell	Edwards Lifesciences Corp	$2,043,000	-32.0%	20,000	-42.9%	0.60%	-32.9%
RVNC	Buy	Revance Therapeutics Inc	$2,035,000	-27.0%	105,255	+28.4%	0.60%	-27.9%
CFN	Sell	CareFusion Corp	$2,036,000	-8.2%	45,000	-10.0%	0.60%	-9.4%
HPTX	Buy	Hyperion Therapeutics Inc	$2,027,000	+10.3%	80,369	+14.2%	0.59%	+9.0%
ESPR	New	Esperion Therapeutics Inc	$2,028,000	–	82,921	–	0.59%	–
CI	Sell	Cigna Corp	$1,995,000	-60.6%	22,000	-60.0%	0.58%	-61.1%
ACHN	Sell	Achillion Pharmaceuticals Inc	$1,996,000	-20.1%	200,000	-39.4%	0.58%	-21.2%
INFI	Buy	Infinity Pharm Inc	$1,986,000	+37.6%	148,000	+30.7%	0.58%	+35.7%
CPHD	Buy	Cepheid Inc	$1,981,000	+18.1%	45,000	+28.6%	0.58%	+16.5%
LLY	Sell	Eli Lilly & Co	$1,946,000	-29.7%	30,000	-32.6%	0.57%	-30.6%
IMGN	Buy	ImmunoGen Inc	$1,906,000	+62.9%	180,000	+82.4%	0.56%	+60.8%
NUVA	Sell	NuVasive Inc	$1,883,000	-30.3%	54,000	-28.9%	0.55%	-31.3%
KERX	Sell	Keryx Biopharmaceuticals Inc	$1,870,000	-49.3%	136,000	-43.3%	0.55%	-50.0%
AFL	Sell	Aflac Inc	$1,864,000	-15.7%	32,000	-9.9%	0.55%	-16.8%
SUPN	Sell	Supernus Pharmaceuticals Inc	$1,842,000	-25.9%	212,000	-6.6%	0.54%	-27.0%
LGND	Sell	Ligand Pharmaceuticals Inc B	$1,833,000	-29.9%	39,000	-7.1%	0.54%	-30.8%
CLDX	Sell	Celldex Therapeutics Inc	$1,788,000	-45.0%	138,000	-30.7%	0.52%	-45.6%
MGNX	Buy	Macrogenics Inc	$1,777,000	+36.3%	85,000	+41.7%	0.52%	+34.4%
SYK	Buy	Stryker Corp	$1,696,000	+34.1%	21,000	+40.0%	0.50%	+32.5%
JAZZ	New	Jazz Pharmaceuticals Plc	$1,606,000	–	10,000	–	0.47%	–
ARRY	Buy	Array BioPharma Inc	$1,354,000	-9.8%	379,199	+15.2%	0.40%	-11.0%
	New	Auxilium Pharmaceuticals Inc	$1,342,000	–	44,953	–	0.39%	–
ALNY	New	Alnylam Pharmaceuticals Inc	$1,018,000	–	13,030	–	0.30%	–
ANTH	Buy	Anthera Pharmaceuticals Inc	$768,000	-24.5%	400,000	+33.3%	0.22%	-25.5%
EXEL	Buy	Exelixis Inc	$765,000	-24.8%	500,000	+66.7%	0.22%	-25.8%
OCR	Sell	Omnicare Inc	$623,000	-67.2%	10,000	-64.9%	0.18%	-67.7%
HAE	Exit	Haemonetics Corp	$0	–	-10,047	–	-0.10%	–
ISRG	Exit	Intuitive Surgical Inc	$0	–	-2,500	–	-0.31%	–
ZBH	Exit	Zimmer Holdings Inc	$0	–	-22,500	–	-0.69%	–
IDIX	Exit	Idenix Pharmaceuticals Inc	$0	–	-97,100	–	-0.69%	–
VAR	Exit	Varian Medical Systems Inc	$0	–	-34,000	–	-0.84%	–
MYGN	Exit	Myriad Genetics Inc	$0	–	-80,000	–	-0.92%	–

Q2 2014

			Value		Shares		↓ Weighting
BIIB	New	Biogen IDEC Inc	$15,766,000	–	50,000	–	4.68%	–
F113PS	New	Covidien Plc	$15,421,000	–	171,000	–	4.58%	–
GILD	New	Gilead Sciences Inc	$14,924,000	–	180,000	–	4.43%	–
ALXN	New	Alexion Pharmaceuticals Inc	$14,531,000	–	93,000	–	4.31%	–
CELG	New	Celgene Corp	$13,464,000	–	156,781	–	4.00%	–
VRTX	New	Vertex Pharmaceuticals Inc	$9,619,000	–	101,600	–	2.85%	–
BMRN	New	BioMarin Pharmaceutical Inc	$9,332,000	–	150,000	–	2.77%	–
ALKS	New	Alkermes Plc	$8,455,000	–	168,000	–	2.51%	–
INCY	New	Incyte Corp Ltd	$7,507,000	–	133,000	–	2.23%	–
CAH	New	Cardinal Health Inc	$6,787,000	–	99,000	–	2.01%	–
AGN	New	Allergan Inc	$6,769,000	–	40,000	–	2.01%	–
REGN	New	Regeneron Pharmaceuticals Inc	$6,356,000	–	22,500	–	1.89%	–
B108PS	New	Actavis Plc	$5,576,000	–	25,000	–	1.66%	–
SLXP	New	Salix Pharmaceutical Ltd	$5,365,000	–	43,493	–	1.59%	–
BSX	New	Boston Scientific Corp	$5,300,000	–	415,000	–	1.57%	–
ACAD	New	Acadia Pharmaceuticals Inc	$5,196,000	–	230,000	–	1.54%	–
CI	New	Cigna Corp	$5,058,000	–	55,000	–	1.50%	–
PCYC	New	Pharmacyclics Inc	$4,934,000	–	55,000	–	1.46%	–
CYH	New	Community Health Syst Inc	$4,628,000	–	102,000	–	1.37%	–
CYBX	New	Cyberonics Inc	$4,622,000	–	74,000	–	1.37%	–
MRK	New	Merck Co Inc	$4,512,000	–	78,000	–	1.34%	–
BMY	New	Bristol Myers Squibb Co	$4,123,000	–	85,000	–	1.22%	–
MDVN	New	Medivation Inc	$4,008,000	–	52,000	–	1.19%	–
MCK	New	McKesson Corp	$4,004,000	–	21,500	–	1.19%	–
DXCM	New	Dexcom Inc	$3,966,000	–	100,000	–	1.18%	–
PODD	New	Insulet Corp	$3,967,000	–	100,000	–	1.18%	–
TMO	New	Thermo Fisher Scientific Inc	$3,894,000	–	33,000	–	1.16%	–
CVS	New	CVS Caremark Corp	$3,769,000	–	50,000	–	1.12%	–
CLVS	New	Clovis Oncology Inc	$3,727,000	–	90,000	–	1.11%	–
KERX	New	Keryx Biopharmaceuticals Inc	$3,691,000	–	240,000	–	1.10%	–
HCA	New	HCA Holdings Inc	$3,383,000	–	60,000	–	1.00%	–
NKTR	New	Nektar Therapeutics	$3,333,000	–	260,000	–	0.99%	–
CLDX	New	Celldex Therapeutics Inc	$3,248,000	–	199,000	–	0.96%	–
ELGX	New	Endologix Inc	$3,118,000	–	205,000	–	0.92%	–
MYGN	New	Myriad Genetics Inc	$3,114,000	–	80,000	–	0.92%	–
CTRX	New	Catamaran Corp	$3,091,000	–	70,000	–	0.92%	–
V107SC	New	WellPoint Inc	$3,013,000	–	28,000	–	0.89%	–
EW	New	Edwards Lifesciences Corp	$3,004,000	–	35,000	–	0.89%	–
PRXL	New	Parexel Intl Corp	$2,906,000	–	55,000	–	0.86%	–
UHS	New	Universal Health Services Inc B	$2,873,000	–	30,000	–	0.85%	–
VAR	New	Varian Medical Systems Inc	$2,827,000	–	34,000	–	0.84%	–
RVNC	New	Revance Therapeutics Inc	$2,788,000	–	82,000	–	0.83%	–
STJ	New	St Jude Medical Inc	$2,770,000	–	40,000	–	0.82%	–
LLY	New	Eli Lilly & Co	$2,767,000	–	44,500	–	0.82%	–
NUVA	New	NuVasive Inc	$2,703,000	–	76,000	–	0.80%	–
ABMD	New	Abiomed Inc	$2,690,000	–	107,000	–	0.80%	–
CNC	New	Centene Corp	$2,646,000	–	35,000	–	0.78%	–
UNH	New	United Health Group Inc	$2,616,000	–	32,000	–	0.78%	–
LGND	New	Ligand Pharmaceuticals Inc B	$2,616,000	–	42,000	–	0.78%	–
ACHN	New	Achillion Pharmaceuticals Inc	$2,498,000	–	330,000	–	0.74%	–
SUPN	New	Supernus Pharmaceuticals Inc	$2,486,000	–	227,000	–	0.74%	–
ARIA	New	Ariad Pharmaceuticals Inc	$2,484,000	–	390,000	–	0.74%	–
THOR	New	Thoratec Corp	$2,353,000	–	67,500	–	0.70%	–
IDIX	New	Idenix Pharmaceuticals Inc	$2,340,000	–	97,100	–	0.69%	–
ZBH	New	Zimmer Holdings Inc	$2,337,000	–	22,500	–	0.69%	–
CFN	New	CareFusion Corp	$2,218,000	–	50,000	–	0.66%	–
P103PS	New	NPS Pharmaceuticals Inc	$2,214,000	–	67,000	–	0.66%	–
AFL	New	Aflac Inc	$2,210,000	–	35,500	–	0.66%	–
BCR	New	CR Bard Inc	$2,145,000	–	15,000	–	0.64%	–
ABC	New	AmerisourceBergen Corp	$2,071,000	–	28,500	–	0.62%	–
MASI	New	Masimo Corp	$2,053,000	–	87,000	–	0.61%	–
DVAX	New	Dynavax Technologies Corp	$1,965,000	–	1,228,354	–	0.58%	–
OCR	New	Omnicare Inc	$1,897,000	–	28,500	–	0.56%	–
RAD	New	Rite Aid Corp	$1,864,000	–	260,000	–	0.55%	–
OREX	New	Orexigen Therapeutics Inc	$1,855,000	–	300,199	–	0.55%	–
HOLX	New	Hologic Inc	$1,851,000	–	73,000	–	0.55%	–
HPTX	New	Hyperion Therapeutics Inc	$1,837,000	–	70,369	–	0.54%	–
CERN	New	Cerner Corp	$1,805,000	–	35,000	–	0.54%	–
AMGN	New	Amgen Inc	$1,776,000	–	15,000	–	0.53%	–
MD	New	Mednax Inc	$1,745,000	–	30,000	–	0.52%	–
TSRO	New	Tesaro Inc	$1,711,000	–	55,000	–	0.51%	–
CPHD	New	Cepheid Inc	$1,678,000	–	35,000	–	0.50%	–
ITCI	New	Intra-Cellular Therapies Inc	$1,657,000	–	98,269	–	0.49%	–
ARRY	New	Array BioPharma Inc	$1,501,000	–	329,199	–	0.44%	–
INFI	New	Infinity Pharm Inc	$1,443,000	–	113,273	–	0.43%	–
BINDQ	New	BIND Therapeutics Inc	$1,430,000	–	108,535	–	0.42%	–
AEGR	New	Aegerion Pharmaceuticals Inc	$1,346,000	–	41,931	–	0.40%	–
TEVA	New	Teva Pharma Ind Ltd ADR repr 1 Shareadr	$1,311,000	–	25,000	–	0.39%	–
SNSS	New	Sunesis Pharmaceuticals Inc	$1,312,000	–	201,171	–	0.39%	–
MGNX	New	Macrogenics Inc	$1,304,000	–	60,000	–	0.39%	–
SYK	New	Stryker Corp	$1,265,000	–	15,000	–	0.38%	–
AMSG	New	Amsurg Corp	$1,244,000	–	27,300	–	0.37%	–
ISIS	New	Isis Pharmaceuticals Inc	$1,240,000	–	36,000	–	0.37%	–
AET	New	Aetna Inc	$1,216,000	–	15,000	–	0.36%	–
IMGN	New	ImmunoGen Inc	$1,170,000	–	98,702	–	0.35%	–
ISRG	New	Intuitive Surgical Inc	$1,030,000	–	2,500	–	0.31%	–
ANTH	New	Anthera Pharmaceuticals Inc	$1,017,000	–	300,000	–	0.30%	–
EXEL	New	Exelixis Inc	$1,017,000	–	300,000	–	0.30%	–
5100PS	New	Volcano Corp	$779,000	–	44,221	–	0.23%	–
CLDN	New	Celladon Corp	$737,000	–	46,000	–	0.22%	–
ESRX	New	Express Scripts Hg Co	$693,000	–	10,000	–	0.21%	–
SRNE	New	Sorrento Therapeutics Inc	$490,000	–	72,535	–	0.14%	–
THLD	New	Threshold Pharmaceuticals	$481,000	–	121,537	–	0.14%	–
LXRX	New	Lexicon Pharmaceuticals Inc	$475,000	–	294,805	–	0.14%	–
HAE	New	Haemonetics Corp	$354,000	–	10,047	–	0.10%	–
ECYT	New	Endocyte Inc	$325,000	–	49,297	–	0.10%	–

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