Tekla Capital Management 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
Abaxis, Inc.	Common	002567105	988	22,466	SH		SOLE		22,466	0	0
AbbVie Inc.	Common	00287Y109	8,932	164,156	SH		SOLE		164,156	0	0
ACADIA Pharmaceuticals Inc.	Common	004225108	18,602	562,500	SH		SOLE		562,500	0	0
Accelerate Diagnostics, Inc.	Common	00430H102	2,340	144,625	SH		SOLE		144,625	0	0
Achillion Pharmaceuticals Inc	Common	00448Q201	3,782	547,300	SH		SOLE		547,300	0	0
Adaptimmune Therapeutics plc	Sponsored ADR	00653A107	3,375	281,934	SH		SOLE		281,934	0	0
Aegerion Pharmaceuticals, Inc.	Common	00767E102	2,802	206,000	SH		SOLE		206,000	0	0
Aegerion Pharmaceuticals, Inc.	Note 2.00% 8/15/19	00767EAB8	36,801	13,000,000	PRN		SOLE		13,000,000	0	0
Aetna, Inc.	Common	00817Y108	36,317	331,931	SH		SOLE		331,931	0	0
Aetna, Inc.	Common	00817Y108	9,223	84,300	SH	Call	SOLE		84,300	0	0
Affimed NV	Common	N01045108	1,407	228,083	SH		SOLE		228,083	0	0
Agilent Technologies, Inc.	Common	00846U101	21,822	635,650	SH		SOLE		635,650	0	0
Akorn, Inc.	Common	009728106	24,214	849,482	SH		SOLE		849,482	0	0
Alere, Inc.	Common	01449J105	14,344	297,901	SH		SOLE		297,901	0	0
Alexion Pharmaceuticals, Inc.	Common	015351109	99,590	636,805	SH		SOLE		636,805	0	0
Alexion Pharmaceuticals, Inc.	Common	015351109	2,846	18,200	SH	Call	SOLE		18,200	0	0
Alkermes plc	Common	G01767105	68,399	1,165,818	SH		SOLE		1,165,818	0	0
Alkermes plc	Common	G01767105	9,575	163,200	SH	Call	SOLE		163,200	0	0
Allergan plc	Common	G0177J108	86,350	317,686	SH		SOLE		317,686	0	0
Allergan plc	Common	G0177J108	9,676	35,600	SH	Call	SOLE		35,600	0	0
Allergan plc	Preferred Convertible	G0177J116	4,717	5,000	SH		SOLE		5,000	0	0
Alliqua BioMedical, Inc.	Common	019621200	5,231	1,650,000	SH		SOLE		1,650,000	0	0
Allscripts Healthcare Solutions, Inc.	Common	01988P108	22,050	1,778,200	SH		SOLE		1,778,200	0	0
Alnylam Pharmaceuticals, Inc.	Common	02043Q107	22,619	281,474	SH		SOLE		281,474	0	0
Alnylam Pharmaceuticals, Inc.	Common	02043Q107	2,371	29,500	SH	Call	SOLE		29,500	0	0
Amgen Inc.	Common	031162100	44,489	321,640	SH		SOLE		321,640	0	0
Anacor Pharmaceuticals Inc.	Common	032420101	7,698	65,400	SH		SOLE		65,400	0	0
Anacor Pharmaceuticals Inc.	Common	032420101	7,698	65,400	SH	Call	SOLE		65,400	0	0
ARCA biopharma, Inc.	Common	00211Y407	4,032	811,227	SH		SOLE		811,227	0	0
Ardelyx, Inc.	Common	039697107	11,064	640,270	SH		SOLE		640,270	0	0
Auris Medical Holding AG	Common	H03579101	7,495	2,105,263	SH		SOLE		2,105,263	0	0
Baxalta Inc.	Common	07177M103	10,071	319,600	SH		SOLE		319,600	0	0
Baxter International, Inc.	Common	071813109	10,499	319,600	SH		SOLE		319,600	0	0
Bellicum Pharmaceutical, Inc.	Common	079481107	872	60,000	SH		SOLE		60,000	0	0
BioDelivery Sciences International, Inc.	Common	09060J106	1,390	250,000	SH		SOLE		250,000	0	0
Biogen Inc.	Common	09062X103	136,329	467,183	SH		SOLE		467,183	0	0
BioMarin Pharmaceutical Inc.	Common	09061G101	60,083	570,477	SH		SOLE		570,477	0	0
BioMarin Pharmaceutical Inc.	Common	09061G101	3,739	35,500	SH	Call	SOLE		35,500	0	0
bluebird bio, Inc.	Common	09609G100	8,037	93,945	SH		SOLE		93,945	0	0
bluebird bio, Inc.	Common	09609G100	5,766	67,400	SH	Call	SOLE		67,400	0	0
Bristol-Myers Squibb Co.	Common	110122108	31,686	535,240	SH		SOLE		535,240	0	0
Bristol-Myers Squibb Co.	Common	110122108	10,490	177,200	SH	Call	SOLE		177,200	0	0
Care Capital Properties, Inc.	Common	141624106	2,777	84,316	SH		SOLE		84,316	0	0
Celgene Corporation	Common	151020104	185,364	1,713,634	SH		SOLE		1,713,634	0	0
Celgene Corporation	Common	151020104	10,092	93,300	SH	Call	SOLE		93,300	0	0
Celldex Therapeutics, Inc.	Common	15117B103	3,567	338,400	SH		SOLE		338,400	0	0
Cellectis S.A.	Sponsored ADS	15117K103	4,175	158,382	SH		SOLE		158,382	0	0
Centene Corporation	Common	15135B101	6,508	120,000	SH		SOLE		120,000	0	0
Chimerix Inc.	Common	16934W106	1,826	47,800	SH		SOLE		47,800	0	0
Cidara Therapeutics, Inc.	Common	171757107	636	50,000	SH		SOLE		50,000	0	0
Cigna Corporation	Common	125509109	10,025	74,251	SH		SOLE		74,251	0	0
Cigna Corporation	Common	125509109	10,018	74,200	SH	Call	SOLE		74,200	0	0
Community Health Systems, Inc.	Common	203668108	8,963	209,572	SH		SOLE		209,572	0	0
Corsicanto Ltd	Note 3.5% 1/15/32	220480AB3	13,506	14,700,000	PRN		SOLE		14,700,000	0	0
Cynapsus Therapeutics, Inc.	Common	23257Y859	799	49,322	SH		SOLE		49,322	0	0
DBV Technologies S.A.	Sponsored ADR	23306J101	2,335	65,600	SH		SOLE		65,600	0	0
Dynavax Technologies Corporation	Common	268158201	6,749	275,000	SH		SOLE		275,000	0	0
DepoMed Inc.	Common	249908104	3,770	200,000	SH		SOLE		200,000	0	0
Eli Lilly & Co	Common	532457108	7,169	85,667	SH		SOLE		85,667	0	0
Endo International PLC	Common	G30401106	22,192	320,321	SH		SOLE		320,321	0	0
Endologix Inc.	Common	29266S106	6,755	551,000	SH		SOLE		551,000	0	0
Epizyme, Inc.	Common	29428V104	3,301	256,700	SH		SOLE		256,700	0	0
Esperion Therapeutics, Inc.	Common	29664W105	2,425	102,800	SH		SOLE		102,800	0	0
Esperion Therapeutics, Inc.	Common	29664W105	2,425	102,800	SH	Call	SOLE		102,800	0	0
Flex Pharma, Inc.	Common	33938A105	2,794	232,600	SH		SOLE		232,600	0	0
Foamix Pharmaceuticals Ltd.	Common	M46135105	4,498	613,577	SH		SOLE		613,577	0	0
Forward Pharma A/S	Sponsored ADR	34986J105	3,120	132,447	SH		SOLE		132,447	0	0
Galapagos NV	Sponsored ADR	36315X101	814	20,000	SH		SOLE		20,000	0	0
GenMark Diagnostics, Inc.	Common	372309104	1,693	215,149	SH		SOLE		215,149	0	0
Gilead Sciences, Inc.	Common	375558103	218,122	2,221,431	SH		SOLE		2,506,431	0	0
GlaxoSmithKline Plc	Sponsored ADR	37733W105	10,958	285,000	SH		SOLE		285,000	0	0
Grifols SA	Sponsored ADR	398438408	2,523	83,000	SH		SOLE		83,000	0	0
GW Pharmaceuticals Plc	Sponsored ADS	36197T103	8,589	94,000	SH		SOLE		94,000	0	0
GW Pharmaceuticals Plc	Common	36197T103	3,783	41,400	SH	Call	SOLE		41,400	0	0
HCA Holdings, Inc.	Common	40412C101	18,813	243,188	SH		SOLE		243,188	0	0
Healthcare Realty Trust, Inc.	Common	421946104	4,653	187,224	SH		SOLE		187,224	0	0
Heron Therapeutics, Inc.	Common	427746102	5,344	219,000	SH		SOLE		219,000	0	0
Horizon Pharma Plc	Common	G4617B105	3,229	162,900	SH		SOLE		162,900	0	0
Horizon Pharma Plc	Common	G4617B105	3,229	162,900	SH	Call	SOLE		162,900	0	0
Humana, Inc.	Common	444859102	23,145	129,300	SH		SOLE		129,300	0	0
Humana, Inc.	Common	444859102	10,543	58,900	SH	Call	SOLE		58,900	0	0
ICON PLC	Common	G4705A100	5,110	72,000	SH		SOLE		72,000	0	0
IDEXX Laboratories, Inc.	Common	45168D104	9,827	132,352	SH		SOLE		132,352	0	0
Illumina, Inc.	Common	452327109	52,982	301,341	SH		SOLE		301,341	0	0
Impax Laboratories, Inc.	Common	45256B101	12,136	344,683	SH		SOLE		344,683	0	0
Incyte Corporation	Common	45337C102	97,141	880,461	SH		SOLE		880,461	0	0
Incyte Corporation	Common	45337C102	10,338	93,700	SH	Call	SOLE		93,700	0	0
Inotek Pharmaceuticals Corp.	Common	45780V102	3,995	425,000	SH		SOLE		425,000	0	0
Intra-Cellular Therapies, Inc.	Common	46116X101	6,006	150,000	SH		SOLE		150,000	0	0
Ishares Nasdaq Biotechnology ETF	ETF	464287556	17,493	57,670	SH		SOLE		57,670	0	0
Isis Pharmaceuticals, Inc.	Common	464330109	5,942	147,000	SH		SOLE		147,000	0	0
Johnson & Johnson	Common	478160104	87,841	940,988	SH		SOLE		940,988	0	0
Juno Therapeutics, Inc.	Common	48205A109	7,406	182,000	SH		SOLE		182,000	0	0
Karyopharm Therapeutics Inc.	Common	48576U106	9,676	918,866	SH		SOLE		918,866	0	0
Karyopharm Therapeutics Inc.	Common	48576U106	3,337	316,900	SH	Call	SOLE		316,900	0	0
Kite Pharma, Inc.	Common	49803L109	351	6,300	SH		SOLE		6,300	0	0
Lexicon Pharmaceuticals, Inc.	Common	528872302	3,801	353,900	SH		SOLE		353,900	0	0
Lexicon Pharmaceuticals, Inc.	Common	528872302	3,801	353,900	SH	Call	SOLE		353,900	0	0
LTC Properties Inc.	Common	502175102	10,096	236,618	SH		SOLE		236,618	0	0
MacroGenics, Inc.	Common	556099109	273	12,743	SH		SOLE		12,743	0	0
Mallinckrodt Plc	Common	G5785G107	4,655	72,800	SH		SOLE		72,800	0	0
McKesson Corporation	Common	58155Q103	12,557	67,862	SH		SOLE		67,862	0	0
Medical Properties Trust, Inc.	Common	58463J304	17,299	1,564,060	SH		SOLE		1,564,060	0	0
The Medicines Company	Common	58463J304	2,669	70,300	SH	Call	SOLE		70,300	0	0
The Medicines Company	Common	584688105	23,698	624,300	SH		SOLE		624,300	0	0
Medivation, Inc.	Common	58501N101	8,730	205,400	SH		SOLE		205,400	0	0
Medtronic PLC	Common	G5960L103	13,860	207,044	SH		SOLE		207,044	0	0
Medtronic PLC	Common	G5960L103	5,536	82,700	SH	Call	SOLE		82,700	0	0
Merck & Co, Inc.	Common	58933Y105	33,639	681,097	SH		SOLE		681,097	0	0
Merrimack Pharmaceuticals, Inc.	Note 4.50% 7/15/20	590328AA8	2,336	1,485,000	PRN		SOLE		1,485,000	0	0
Merrimack Pharmaceuticals, Inc.	Common	590328100	7,266	853,787	SH		SOLE		853,787	0	0
Molina Healthcare, Inc.	Common	60855R100	23,953	347,901	SH		SOLE		347,901	0	0
Momenta Pharmaceuticals, Inc.	Common	60877T100	2,522	153,700	SH		SOLE		153,700	0	0
Mylan NV	Shares Euro	N59465109	81,956	2,035,657	SH		SOLE		2,035,657	0	0
Mylan NV	Shares Euro	N59465109	4,751	118,000	SH	Call	SOLE		118,000	0	0
Natera, Inc.	Common	632307104	8,835	814,300	SH		SOLE		814,300	0	0
Neurocrine Biosciences, Inc.	Common	64125C109	14,955	375,860	SH		SOLE		375,860	0	0
Novartis AG	Sponsored ADR	66987V109	8,521	92,700	SH		SOLE		92,700	0	0
Novo Nordisk A/S	Sponsored ADR	670100205	15,979	294,600	SH		SOLE		294,600	0	0
Omega Healthcare Investors Inc.	Common	681936100	14,521	413,116	SH		SOLE		413,116	0	0
Paratek Pharmaceuticals, Inc.	Common	699374302	14,489	762,581	SH		SOLE		762,581	0	0
Perrigo Company PLC	Common	G97822103	2,972	18,900	SH		SOLE		18,900	0	0
Pfizer, Inc.	Common	717081103	56,610	1,802,291	SH		SOLE		1,802,291	0	0
Physicians Realty Trust	Common	71943U104	18,572	1,230,772	SH		SOLE		1,230,772	0	0
Pieris Pharmaceuticals, Inc.	Common	720795103	7,042	3,848,191	SH		SOLE		3,848,191	0	0
Puma Biotechnology, Inc.	Common	74587V107	7,174	95,200	SH		SOLE		95,200	0	0
Puma Biotechnology, Inc.	Common	74587V107	3,421	45,400	SH	Call	SOLE		45,400	0	0
Regeneron Pharmaceuticals, Inc.	Common	75886F107	71,755	154,266	SH		SOLE		154,266	0	0
Sabra Health Care REIT Inc.	Common	78573L106	10,574	456,190	SH		SOLE		456,190	0	0
Sage Therapeutics, Inc.	Common	78667J108	4,139	97,800	SH		SOLE		97,800	0	0
Sage Therapeutics, Inc.	Common	78667J108	3,504	82,800	SH	Call	SOLE		82,800	0	0
Sagent Pharmaceuticals, Inc.	Common	786692103	6,278	409,500	SH		SOLE		409,500	0	0
Senior Housing Properties Trust	Common	81721M109	10,862	670,504	SH		SOLE		670,504	0	0
Shire plc	Sponsored ADR	82481R106	10,162	49,513	SH		SOLE		49,513	0	0
Spectrum Pharmaceuticals, Inc.	Note 2.75% 12/15/18	84763AAB4	4,453	5,000,000	PRN		SOLE		5,000,000	0	0
St Jude Medical, Inc.	Common	790849103	10,190	161,510	SH		SOLE		161,510	0	0
Stryker Corporation	Common	863667101	11,663	123,940	SH		SOLE		123,940	0	0
Supernus Pharmaceuticals, Inc.	Note 7.50% 5/1/19	868459AB4	5,548	2,000,000	PRN		SOLE		2,000,000	0	0
Tenet Healthcare Corporation	Common	88033G407	6,073	164,500	SH		SOLE		164,500	0	0
TetraLogic Pharmaceuticals Corporation	Note 8.00% 6/15/19	88165UAB5	2,360	4,500,000	PRN		SOLE		4,500,000	0	0
Tetraphase Pharmaceuticals Inc.	Common	88165N105	1,435	192,322	PRN		SOLE		192,322	0	0
Teva Pharmaceutical Industries Ltd.	ADR	881624209	78,231	1,385,594	SH		SOLE		1,385,594	0	0
Thermo Fisher Scientific Inc.	Common	883556102	10,564	86,395	SH		SOLE		86,395	0	0
Trillium Therapeutics Inc.	Common	89620X506	847	65,000	SH		SOLE		65,000	0	0
Trovagene, Inc.	Common	897238309	3,130	550,000	SH		SOLE		550,000	0	0
Ultragenyx Pharmaceutical Inc.	Common	90400D108	8,514	88,400	SH		SOLE		88,400	0	0
UniQure NV	Common	N90064101	2,102	102,800	SH		SOLE		102,800	0	0
UniQure NV	Common	N90064101	2,102	102,800	SH	Call	SOLE		102,800	0	0
United Therapeutics Corporation	Common	91307C102	23,964	182,600	SH		SOLE		182,600	0	0
UnitedHealth Group, Inc.	Common	91324P102	36,265	312,600	SH		SOLE		312,600	0	0
UnitedHealth Group, Inc.	Common	91324P102	10,406	89,700	SH	Call	SOLE		89,700	0	0
Ventas Inc.	Common	92276F100	20,701	369,266	SH		SOLE		369,266	0	0
Verastem, Inc.	Common	92337C104	895	500,000	SH		SOLE		500,000	0	0
Vertex Pharmaceuticals Incorporated	Common	92532F100	105,171	1,009,903	SH		SOLE		1,009,903	0	0
WellCare Health Plans Inc.	Common	94946T106	7,640	88,652	SH		SOLE		88,652	0	0
Welltower, Inc.	Preferred	95040Q203	12,146	200,000	SH		SOLE		200,000	0	0
Wright Medical Group Inc.	Common	98235T107	3,281	156,100	SH		SOLE		156,100	0	0
Xencor, Inc.	Common	98401F105	245	20,000	SH		SOLE		20,000	0	0
Zafgen, Inc.	Common	98885E103	425	13,307	SH		SOLE		13,307	0	0
Zimmer Biomet Holdings, Inc.	Common	98956P102	9,609	102,300	SH		SOLE		102,300	0	0