| Security ID# (CUSIP/SEDOL) | Security Description | Ticker Symbol | Coupon Rate | Maturity Date | Shares | Market Value ($) | % of TNA |
|---|---|---|---|---|---|---|---|
| MICROB | Ironwood Pharmaceuticals (microbia)series E | 2,000,000 | 28,574,540 | 5.08 | |||
| 74499S9A1 | Dryden Core Investment Fund - Taxable Money Market | 0.24 | 12/31/2010 | 27,229,213 | 27,229,213 | 4.84 | |
| 00163U106 | AMAG Pharmaceuticals Inc | AMAG.UQ | 617,400 | 27,153,252 | 4.82 | ||
| 45337C102 | Incyte Corp | INCY.UQ | 2,266,800 | 24,209,424 | 4.30 | ||
| 151020104 | Celgene Corp | CELG.UW | 403,500 | 22,910,730 | 4.07 | ||
| 82481R106 | Shire Plc - Adr | SHPGY.U | 379,700 | 22,630,120 | 4.02 | ||
| 015351109 | Alexion Pharm | ALXN.UQ | 453,100 | 21,010,247 | 3.73 | ||
| 09061G101 | Biomarin Pharmac | BMRN.UW | 1,002,200 | 19,472,746 | 3.46 | ||
| 92532F100 | Vertex Pharm | VRTX.UW | 500,500 | 19,219,200 | 3.42 | ||
| 628530107 | Mylan, Inc. | MYL.UW | 1,032,700 | 18,826,121 | 3.35 | ||
| 019777101 | Allos Therapeutics | ALTH.UQ | 2,412,100 | 17,511,846 | 3.11 | ||
| 45256B101 | Impax Laboratories, Inc. | IPXL.UQ | 1,312,100 | 17,450,930 | 3.10 | ||
| 91324P102 | Unitedhealth Group, Inc. | UNH.UN | 422,300 | 13,935,900 | 2.48 | ||
| 91307C102 | United Therapeut | UTHR.UW | 206,600 | 12,307,162 | 2.19 | ||
| 03969P107 | Ardea Biosciences, Inc. | RDEA.UQ | 842,594 | 12,335,576 | 2.19 | ||
| 628530206 | Mylan Laboratories Preferred Stock | 12,330 | 12,202,878 | 2.17 | |||
| 58405U102 | Medco Health Solutions, Inc. | MHS.UN | 187,800 | 11,545,944 | 2.05 | ||
| 24823Q107 | Dendreon Corp. | DNDN.UQ | 372,578 | 10,320,411 | 1.83 | ||
| 03073T102 | Amerigroup Corp. | AGP.UN | 397,740 | 10,122,483 | 1.80 | ||
| 94973V107 | Wellpoint Inc | WLP.UN | 157,100 | 10,010,412 | 1.78 | ||
| 071813109 | Baxter International, Inc. | BAX.UN | 169,200 | 9,744,228 | 1.73 | ||
| H01301102 | Alcon, Inc. | ACL.UN | 61,100 | 9,513,881 | 1.69 | ||
| 75886F107 | Regeneron Pharm | REGN.UW | 355,300 | 9,472,298 | 1.68 | ||
| 375558103 | Gilead Sciences | GILD.UW | 193,600 | 9,345,072 | 1.66 | ||
| 56509R108 | MAP Pharmaceuticals Inc | MAPP.UQ | 569,300 | 8,545,193 | 1.52 | ||
| 15135B101 | Centene Corp. | CNC.UN | 427,029 | 8,220,308 | 1.46 | ||
| 771195104 | Roche Holding Ag - Spons Adr | RHHBY.U | 194,400 | 8,155,080 | 1.45 | ||
| 457733103 | Inspire Pharmaceuticals, Inc. | ISPH.UQ | 1,456,200 | 8,023,662 | 1.43 | ||
| 717081103 | Pfizer Inc | PFE.UN | 428,100 | 7,988,346 | 1.42 | ||
| 444903108 | Human Genome Sci | HGSI.UQ | 276,500 | 7,318,955 | 1.30 | ||
| 795435106 | Salix Pharmaceuticals Ltd | SLXP.UW | 236,800 | 6,928,768 | 1.23 | ||
| 881624209 | TEVA Pharmaceutical-sp Adr | TEVA.UW | 116,800 | 6,624,896 | 1.18 | ||
| 929352102 | WUXI Pharmatech Inc - Adr | WX.UN | 415,600 | 6,250,624 | 1.11 | ||
| 66987V109 | Novartis Ag - Adr | NVS.UN | 109,400 | 5,856,182 | 1.04 | ||
| MERRIM | Merrimack Pharmaceuticals In | 960,512 | 5,834,310 | 1.04 | |||
| 04033A100 | Ariad Pharmaceuticals, Inc. | ARIA.UQ | 2,517,600 | 5,563,896 | 0.99 | ||
| 03252Q408 | Anadys Pharmaceuticals, Inc. | ANDS.UQ | 2,671,500 | 5,396,430 | 0.96 | ||
| 452327109 | Illumina, Inc. | ILMN.UW | 144,300 | 5,294,367 | 0.94 | ||
| 075811109 | Beckman Coulter, Inc. | BEC.UN | 80,500 | 5,262,285 | 0.94 | ||
| 87611R306 | Targacept Inc | TRGT.UQ | 246,600 | 5,166,270 | 0.92 | ||
| 125509109 | Cigna Corp. | CI.UN | 151,400 | 5,112,778 | 0.91 | ||
| 032346108 | Amylin Pharm Inc | AMLN.UW | 282,400 | 5,077,552 | 0.90 | ||
| CHEMOCENT | Chemocentryx Inc | 1,400,000 | 5,079,141 | 0.90 | |||
| EAGLEP | Eagle Pharmaceuticals Inc Series B | 2,200,000 | 5,026,591 | 0.89 | |||
| 98985T109 | Zymogenetics Inc | ZGEN.UQ | 744,900 | 4,223,583 | 0.75 | ||
| 58501N101 | Medivation Inc | MDVN.UQ | 108,900 | 3,625,281 | 0.64 | ||
| 302182100 | Express Scripts Inc | ESRX.UW | 42,000 | 3,522,120 | 0.63 | ||
| 043387109 | ARYX Therapeutics Inc. | 1,317,200 | 3,477,408 | 0.62 | |||
| 23283K105 | Cytori Therapeutics Inc | CYTX.UQ | 494,500 | 3,332,930 | 0.59 | ||
| 126650100 | CVS Corp. | CVS.UN | 100,900 | 3,266,133 | 0.58 | ||
| 53217V109 | LIFE Technologies Corp Com | LIFE.UW | 56,100 | 2,788,731 | 0.50 | ||
| 230770109 | Cumberland Pharmaceuticals | CPIX O | 204,400 | 2,428,272 | 0.43 | ||
| MICROBIAF | Ironwood Pharmaceuticals (microbia)series F | 160,000 | 2,285,963 | 0.41 | |||
| 05334D107 | Auxilium Pharmeceuticals | AUXL.UW | 77,400 | 2,179,584 | 0.39 | ||
| 00448Q201 | Achillion Pharmaceuticals | ACHN.UQ | 758,300 | 1,789,588 | 0.32 | ||
| TITANPWRT | Titan Pharmaceutical Warrant | 12/21/2012 | 2,850,000 | 1,570,153 | 0.28 | ||
| SUPERD1 | Superdimension Ltd Priv Ser D1 | 77,000 | 1,072,556 | 0.19 | |||
| SUPERD2 | Superdimension Ltd Priv Ser D2 | 63,000 | 877,546 | 0.16 | |||
| ARDEAWRT | Ardea Biosciences Warrant | 12/19/2013 | 94,275 | 505,236 | 0.09 | ||
| CYTORIWRT | Cytori Therapeutics Inc 6.25 | 02/28/2012 | 227,400 | 396,470 | 0.07 | ||
| CYTORIWTP | Cytori Therapeutic Wrt - Private Placement | 08/11/2013 | 222,500 | 340,126 | 0.06 | ||
| ARYXWRT | ARYX Therapeutics Inc Warrant | 11/13/2013 | 357,600 | 263,528 | 0.05 | ||
| ANADYSWRT | Anadys Pharmaceuticals Inc Warrant | 06/09/2014 | 679,000 | 282,165 | 0.05 | ||
| B3ZVDV0 | Sinopharm Group Co-h | 42,700 | 161,143 | 0.03 | |||
| ENTEROWRT | Enteromedics Inc Warrant | 02/20/2013 | 1,360,825 | 147,277 | 0.03 | ||
| B0Q5QP5 | Lombard Medical Technologies | 4,000,000 | 64,259 | 0.01 | |||
| LOMBAWRTA | Lombard Medical Technologies Warrant A | 06/15/2010 | 600,000 | 0 | 0.00 | ||
| LOMBAWRTB | Lombard Medical Technologies Warrant B | 06/15/2012 | 600,000 | 0 | 0.00 |