DSC Advisors 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
AMERICAN AIRLS GROUP INC	COM	02376R102	32	175,000	SH	Call	SOLE		175,000	0	0
AMGEN INC	COM	031162100	2,107	15,000	SH		SOLE		15,000	0	0
APOLLO INVT CORP	COM	03761U106	7,966	975,000	SH		SOLE		975,000	0	0
BIOSCRIP INC	COM	09069N108	12,265	1,775,000	SH		SOLE		1,775,000	0	0
BOYD GAMING CORP	COM	103304101	3,127	307,818	SH		SOLE		307,818	0	0
BOYD GAMING CORP	COM	103304101	4	200,000	SH	Call	SOLE		200,000	0	0
BROOKDALE SR LIVING INC	COM	112463104	4,028	125,000	SH		SOLE		125,000	0	0
CARDINAL HEALTH INC	COM	14149Y108	13,486	180,000	SH		SOLE		180,000	0	0
CHIMERIX INC	COM	16934W106	1,381	50,000	SH		SOLE		50,000	0	0
CITIGROUP INC	COM NEW	172967424	1,814	35,000	SH		SOLE		35,000	0	0
CVS HEALTH CORP	COM	126650100	17,271	217,000	SH		SOLE		217,000	0	0
DARLING INGREDIENTS INC	COM	237266101	8,171	446,000	SH		SOLE		446,000	0	0
DELPHI AUTOMOTIVE PLC	SHS	G27823106	10	100,000	SH	Call	SOLE		100,000	0	0
ENTROPIC COMMUNICATIONS INC	COM	29384R105	2,128	800,000	SH		SOLE		800,000	0	0
ENVISION HEALTHCARE HLDGS IN	COM	29413U103	2,081	60,000	SH		SOLE		60,000	0	0
EXTREME NETWORKS INC	COM	30226D106	1,916	400,000	SH		SOLE		400,000	0	0
EXXON MOBIL CORP	COM	30231G102	23	25,000	SH	Call	SOLE		25,000	0	0
FACEBOOK INC	CL A	30303M102	238	3,008	SH		DFND	1	0	3,008	0
FISERV INC	COM	337738108	3,916	60,592	SH		SOLE		60,592	0	0
GILEAD SCIENCES INC	COM	375558103	276	30,000	SH	Call	SOLE		30,000	0	0
GOLDMAN SACHS GROUP INC	COM	38141G104	108	40,000	SH	Call	SOLE		40,000	0	0
GOOGLE INC	CL A	38259P508	249	424	SH		DFND	1	0	424	0
GOOGLE INC	CL C	38259P706	245	424	SH		DFND	1	0	424	0
GOPRO INC	CL A	38268T103	29	25,000	SH	Put	SOLE		25,000	0	0
HERSHA HOSPITALITY TR	SH BEN INT A	427825104	3,822	600,000	SH		SOLE		600,000	0	0
HUMANA INC	COM	444859102	291	30,000	SH	Call	SOLE		30,000	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	283	1,489	SH		SOLE		1,489	0	0
INVENTERGY GLOBAL INC	COM	46123X102	668	375,000	SH		SOLE		375,000	0	0
ISHARES	IBOXX HI YD ETF	464288513	809	8,800	SH		SOLE		8,800	0	0
ISHARES GOLD TRUST	ISHARES	464285105	199	17,000	SH		SOLE		17,000	0	0
ISHARES TR	TIPS BD ETF	464287176	381	3,400	SH		SOLE		3,400	0	0
ISHARES TR	IBOXX INV CP ETF	464287242	1,300	11,000	SH		SOLE		11,000	0	0
ISHARES TR	20+ YR TR BD ETF	464287432	721	6,200	SH		SOLE		6,200	0	0
ISHARES TR	1-3 YR TR BD ETF	464287457	1,141	13,500	SH		SOLE		13,500	0	0
ISHARES TR	NA TEC-SFTWR ETF	464287515	3,981	46,031	SH		DFND	1	0	46,031	0
ISHARES TR	RUSSELL 2000 ETF	464287655	1,996	400,000	SH	Put	SOLE		400,000	0	0
ISHARES TR	U.S. TELECOM ETF	464287713	505	16,863	SH		DFND	1	0	16,863	0
ISHARES TR	U.S. TECH ETF	464287721	763	7,575	SH		DFND	1	0	7,575	0
JASON INDS INC	COM	471172106	1,035	100,000	SH		SOLE		100,000	0	0
JASON INDS INC	*W EXP 06/30/201	471172114	378	250,000	SH		SOLE		250,000	0	0
MANNKIND CORP	COM	56400P201	177	30,000	SH		SOLE		30,000	0	0
MCDONALDS CORP	COM	580135101	3	25,000	SH	Put	SOLE		25,000	0	0
MEDASSETS INC	COM	584045108	5,180	250,000	SH		SOLE		250,000	0	0
MERCK & CO INC NEW	COM	58933Y105	3,794	64,000	SH		SOLE		64,000	0	0
MICROSOFT CORP	COM	594918104	625	13,484	SH		DFND	1	0	13,484	0
MRC GLOBAL INC	COM	55345K103	5,480	235,000	SH		SOLE		235,000	0	0
NCR CORP NEW	COM	62886E108	7,517	225,000	SH		SOLE		225,000	0	0
NUANCE COMMUNICATIONS INC	COM	67020Y100	45	25,000	SH	Put	SOLE		25,000	0	0
ORACLE CORP	COM	68389X105	208	5,433	SH		DFND	1	0	5,433	0
PFENEX INC	COM	717071104	5,781	785,463	SH		SOLE		785,463	0	0
PPL CORP	COM	69351T106	6,568	200,000	SH		SOLE		200,000	0	0
RADISYS CORP	COM	750459109	614	230,000	SH		SOLE		230,000	0	0
RETROPHIN INC	COM	761299106	180	20,000	SH		SOLE		20,000	0	0
RETROPHIN INC	COM	761299106	70	20,000	SH	Put	SOLE		20,000	0	0
ROADRUNNER TRNSN SVCS HLDG I	COM	76973Q105	16,181	710,000	SH		SOLE		710,000	0	0
SELECT SECTOR SPDR TR	SBI MATERIALS	81369Y100	546	11,010	SH		DFND	1	0	11,010	0
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	777	12,150	SH		DFND	1	0	12,150	0
SELECT SECTOR SPDR TR	SBI INT-FINL	81369Y605	853	36,803	SH		DFND	1	0	36,803	0
SELECT SECTOR SPDR TR	SBI INT-INDS	81369Y704	1,375	25,863	SH		DFND	1	0	25,863	0
SELECT SECTOR SPDR TR	TECHNOLOGY	81369Y803	898	22,512	SH		DFND	1	0	22,512	0
SPDR GOLD TRUST	GOLD SHS	78463V107	3	100,000	SH	Call	SOLE		100,000	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	690	750,000	SH	Put	SOLE		750,000	0	0
SUNESIS PHARMACEUTICALS INC	COM NEW	867328601	1,250	175,000	SH		SOLE		175,000	0	0
TRINITY INDS INC	COM	896522109	5,676	121,500	SH		SOLE		121,500	0	0
UNION PAC CORP	COM	907818108	13,010	120,000	SH		SOLE		120,000	0	0
UNITED RENTALS INC	COM	911363109	123	50,000	SH	Put	SOLE		50,000	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	2,027	23,500	SH		SOLE		23,500	0	0
VANGUARD WORLD FDS	CONSUM DIS ETF	92204A108	1,052	9,696	SH		DFND	1	0	9,696	0
VANGUARD WORLD FDS	CONSUM STP ETF	92204A207	1,263	10,751	SH		DFND	1	0	10,751	0
VANGUARD WORLD FDS	ENERGY ETF	92204A306	810	6,175	SH		DFND	1	0	6,175	0
VANGUARD WORLD FDS	HEALTH CAR ETF	92204A504	2,197	18,777	SH		DFND	1	0	18,777	0
WELLPOINT INC	COM	94973V107	5,383	45,000	SH		SOLE		45,000	0	0
ZIONS BANCORPORATION	COM	989701107	325	325,000	SH	Call	SOLE		325,000	0	0
ZYNGA INC	CL A	98986T108	2,970	1,100,000	SH		SOLE		1,100,000	0	0