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
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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
AbbVie Inc.	Common	00287Y109	9	156	SH		SOLE		156	0	0
ACADIA Pharmaceuticals Inc.	Common	004225108	22,727	637,500	SH		SOLE		637,500	0	0
Accelerate Diagnostics, Inc.	Common	00430H102	5,687	264,625	SH		SOLE		264,625	0	0
Adaptimmune Therapeutics plc	Sponsored ADR	00653A107	3,581	296,934	SH		SOLE		296,934	0	0
Aegerion Pharmaceuticals, Inc.	Note 2.00% 8/15/19	00767EAB8	8,629	13,000,000	PRN		SOLE		13,000,000	0	0
Affimed NV	Common	N01045108	2,095	294,213	SH		SOLE		294,213	0	0
Agilent Technologies, Inc.	Common	00846U101	30,465	728,650	SH		SOLE		728,650	0	0
Akorn, Inc.	Common	009728106	5,419	145,235	SH		SOLE		145,235	0	0
Alere Inc.	Common	01449J105	11,645	297,901	SH		SOLE		297,901	0	0
Alexion Pharmaceuticals, Inc.	Common	015351109	121,471	636,805	SH		SOLE		636,805	0	0
Alkermes plc	Shares	G01767105	40,519	510,444	SH		SOLE		510,444	0	0
Allergan plc	Shares	G0177J108	127,996	409,586	SH		SOLE		409,586	0	0
Allergan plc	Preferred Convertible	G0177J116	5,151	5,000	SH		SOLE		5,000	0	0
Alliqua BioMedical, Inc.	Common	019621200	3,531	1,650,000	SH		SOLE		1,650,000	0	0
Allscripts Healthcare Solutions, Inc.	Common	01988P108	2,670	173,600	SH		SOLE		173,600	0	0
Alnylam Pharmaceuticals, Inc.	Common	02043Q107	12,944	137,495	SH		SOLE		137,495	0	0
Amgen Inc.	Common	031162100	52,212	321,640	SH		SOLE		321,640	0	0
Anacor Pharmaceuticals, Inc.	Common	032420101	12,431	110,038	SH		SOLE		110,038	0	0
ARCA biopharma, Inc.	Common	00211Y407	3,772	811,227	SH		SOLE		811,227	0	0
Ardelyx, Inc.	Common	039697107	11,585	639,370	SH		SOLE		639,370	0	0
Auris Medical Holding AG	Common	H03579101	6,202	1,268,263	SH		SOLE		1,268,263	0	0
Baxalta Inc.	Common	07177M103	12,474	319,600	SH		SOLE		319,600	0	0
Baxter International Inc.	Common	071813109	12,193	319,600	SH		SOLE		319,600	0	0
Bellicum Pharmaceuticals, Inc.	Common	079481107	1,216	60,000	SH		SOLE		60,000	0	0
Biogen Inc.	Common	09062X103	138,021	450,533	SH		SOLE		450,533	0	0
BioMarin Pharmaceutical Inc.	Common	09061G101	62,452	596,145	SH		SOLE		596,145	0	0
bluebird bio, Inc.	Common	09609G100	3,169	49,345	SH		SOLE		49,345	0	0
Bristol-Myers Squibb Co.	Common	110122108	13,937	202,600	SH		SOLE		202,600	0	0
Care Capital Properties, Inc.	Common	141624106	2,578	84,316	SH		SOLE		84,316	0	0
Celgene Corporation	Common	151020104	205,225	1,713,634	SH		SOLE		1,713,634	0	0
Celldex Therapeutics, Inc.	Common	15117B103	1,659	105,800	SH		SOLE		105,800	0	0
Cellectis S.A.	Sponsored ADS	15117K103	6,431	207,250	SH		SOLE		207,250	0	0
Centene Corporation	Common	15135B101	7,897	120,000	SH		SOLE		120,000	0	0
Cepheid, Inc.	Common	15670R107	12,186	333,590	SH		SOLE		333,590	0	0
Cepheid, Inc.	Note 1.25% 2/1/21	15670RAC1	8,894	10,000,000	PRN		SOLE		10,000,000	0	0
Chimerix, Inc.	Common	16934W106	428	47,800	SH		SOLE		47,800	0	0
Cidara Therapeutics, Inc.	Common	171757107	901	52,500	SH		SOLE		52,500	0	0
Community Health Systems, Inc.	Common	203668108	8,078	304,472	SH		SOLE		304,472	0	0
Corsicanto Ltd	Note 3.50% 1/15/32	220480AB3	13,304	14,700,000	PRN		SOLE		14,700,000	0	0
Cynapsus Therapeutics, Inc.	Common	23257Y859	2,785	180,407	SH		SOLE		180,407	0	0
CytomX Therapeutics, Inc.	Common	23284F105	6,847	328,059	SH		SOLE		328,059	0	0
DBV Technologies S.A.	Sponsored ADR	23306J101	2,382	65,600	SH		SOLE		65,600	0	0
Depomed Inc.	Common	249908104	3,626	200,000	SH		SOLE		200,000	0	0
Dynavax Technologies Corporation	Common	268158201	6,644	275,000	SH		SOLE		275,000	0	0
Eli Lilly & Co	Common	532457108	7,218	85,667	SH		SOLE		85,667	0	0
Endo International plc	Shares	G30401106	17,530	286,348	SH		SOLE		286,348	0	0
Endologix Inc.	Common	29266S106	5,455	551,000	SH		SOLE		551,000	0	0
Esperion Therapeutics, Inc.	Common	29664W105	2,288	102,800	SH		SOLE		102,800	0	0
Exelixis, Inc.	Common	30161Q104	5,775	1,023,877	SH		SOLE		1,023,877	0	0
Flamel Technologies SA	Sponsored ADR	338488109	5,791	474,288	SH		SOLE		474,288	0	0
Flex Pharm, Inc.	Common	33938A105	2,896	232,600	SH		SOLE		232,600	0	0
Foamix Pharmaceuticals Ltd.	Shares	M46135105	5,289	652,145	SH		SOLE		652,145	0	0
Forward Pharma A/S	Sponsored ADR	34986J105	2,594	136,547	SH		SOLE		136,547	0	0
Galapagos NV	Sponsored ADR	36315X101	1,258	20,000	SH		SOLE		20,000	0	0
GenMark Diagnostics, Inc.	Common	372309104	724	93,349	SH		SOLE		93,349	0	0
Gilead Sciences, Inc.	Common	375558103	235,897	2,331,231	SH		SOLE		2,331,231	0	0
Gilead Sciences, Inc.	Common	ADI0JQKQ6	27	278	SH	Call	SOLE		278	0	0
GlaxoSmithKline plc	Sponsored ADR	37733W105	11,500	285,000	SH		SOLE		285,000	0	0
Grifols SA	Sponsored ADR	398438408	2,689	83,000	SH		SOLE		83,000	0	0
GW Pharmaceuticals plc	ADS	36197T103	2,083	30,000	SH		SOLE		30,000	0	0
Halozyme Therapeutics, Inc.	Common	40637H109	3,466	200,000	SH		SOLE		200,000	0	0
HCA Holdings, Inc.	Common	40412C101	30,331	448,488	SH		SOLE		448,488	0	0
Healthcare Realty Trust, Inc.	Common	421946104	5,302	187,224	SH		SOLE		187,224	0	0
Heron Therapeutics, Inc.	Common	427746102	5,847	219,000	SH		SOLE		219,000	0	0
Horizon Pharma plc	Common	G4617B105	16,250	749,900	SH		SOLE		749,900	0	0
Humana Inc.	Common	444859102	23,081	129,300	SH		SOLE		129,300	0	0
ICON plc	Shares	G4705A100	8,928	114,900	SH		SOLE		114,900	0	0
IDEXX Laboratories, Inc.	Common	45168D104	9,651	132,352	SH		SOLE		132,352	0	0
Illumina Inc.	Common	452327109	83,370	434,341	SH		SOLE		434,341	0	0
Impax Laboratories, Inc.	Common	45256B101	14,739	344,683	SH		SOLE		344,683	0	0
Incyte Corporation	Common	45337C102	95,486	880,461	SH		SOLE		880,461	0	0
Inotek Pharmaceuticals Corporation	Common	45780V102	4,815	425,000	SH		SOLE		425,000	0	0
Insmed Incorporated	Common	457669307	2,842	156,600	SH		SOLE		156,600	0	0
Intra-Cellular Therapies, Inc.	Common	46116X101	10,102	187,800	SH		SOLE		187,800	0	0
Ishares Nasdaq Biotechnology ETF	ETF	464287556	19,511	57,670	SH		SOLE		57,670	0	0
Johnson & Johnson	Common	478160104	96,658	940,988	SH		SOLE		940,988	0	0
Juno Therapeutics, Inc.	Common	48205A109	8,003	182,000	SH		SOLE		182,000	0	0
Karyopharm Therapeutics Inc.	Common	48576U106	6,629	500,324	SH		SOLE		500,324	0	0
Kite Pharma, Inc.	Common	49803L109	2,526	41,000	SH		SOLE		41,000	0	0
Lexicon Pharmaceuticals, Inc.	Common	528872302	2,631	197,641	SH		SOLE		197,641	0	0
LTC Properties Inc.	Common	502175102	10,208	236,618	SH		SOLE		236,618	0	0
Mallinckrodt plc	Shares	G5785G107	4,620	61,900	SH		SOLE		61,900	0	0
McKesson Corporation	Common	58155Q103	16,343	82,862	SH		SOLE		82,862	0	0
Medical Properties Trust, Inc.	Common	58463J304	18,002	1,564,060	SH		SOLE		1,564,060	0	0
Medivation, Inc.	Common	58501N101	32,257	667,300	SH		SOLE		667,300	0	0
Medtronic PLC	Shares	G5960L103	9,565	124,344	SH		SOLE		124,344	0	0
Merck & Co., Inc.	Common	58933Y105	35,976	681,097	SH		SOLE		681,097	0	0
Merrimack Pharmaceuticals, Inc.	Note 4.50% 7/15/20	590328AA8	2,199	1,485,000	PRN		SOLE		1,485,000	0	0
Merrimack Pharmaceuticals, Inc.	Common	590328100	6,745	853,787	SH		SOLE		853,787	0	0
Molina Healthcare, Inc.	Common	60855R100	20,919	347,901	SH		SOLE		347,901	0	0
Momenta Pharmaceuticals, Inc.	Common	60877T100	2,281	153,700	SH		SOLE		153,700	0	0
Mylan NV	Shares Euro	N59465109	28,725	531,252	SH		SOLE		531,252	0	0
Natera, Inc.	Common	632307104	9,529	882,358	SH		SOLE		882,358	0	0
Neurocrine Biosciences, Inc.	Common	64125C109	17,619	311,460	SH		SOLE		311,460	0	0
Nevro Corp.	Common	64157F103	1,688	25,000	SH		SOLE		25,000	0	0
Novartis AG	Sponsored ADR	66987V109	7,976	92,700	SH		SOLE		92,700	0	0
Novavax, Inc.	Common	670002104	3,004	358,000	SH		SOLE		358,000	0	0
Novo Nordisk A/S	ADR	670100205	17,110	294,600	SH		SOLE		294,600	0	0
Omega Healthcare Investors Inc.	Common	681936100	14,451	413,116	SH		SOLE		413,116	0	0
Paratek Pharmaceuticals, Inc.	Common	699374302	14,466	762,581	SH		SOLE		762,581	0	0
Perrigo Company plc	Shares	G97822103	5,397	37,300	SH		SOLE		37,300	0	0
Pfizer Inc.	Common	717081103	58,178	1,802,291	SH		SOLE		1,802,291	0	0
Physicians Realty Trust	Common	71943U104	20,751	1,230,772	SH		SOLE		1,230,772	0	0
Pieris Pharmaceuticals, Inc.	Common	720795103	8,812	3,848,191	SH		SOLE		3,848,191	0	0
Puma Biotechnology, Inc.	Common	74587V107	20,400	260,200	SH		SOLE		260,200	0	0
Regeneron Pharmaceuticals, Inc.	Common	75886F107	83,746	154,266	SH		SOLE		154,266	0	0
Retrophin, Inc.	Common	761299106	6,365	329,949	SH		SOLE		329,949	0	0
The RMR Group Inc., Class A	Common	74967R106	107	7,441	SH		SOLE		7,441	0	0
Sabra Health Care REIT Inc.	Common	78573L106	9,229	456,190	SH		SOLE		456,190	0	0
Sage Therapeutics, Inc.	Common	78667J108	5,702	97,800	SH		SOLE		97,800	0	0
Sagent Pharmaceuticals, Inc.	Common	786692103	4,561	286,650	SH		SOLE		286,650	0	0
Sanofi	Sponsored ADR	80105N105	13,008	305,000	SH		SOLE		305,000	0	0
Senior Housing Properties Trust	Common	81721M109	9,950	670,504	SH		SOLE		670,504	0	0
Shire plc	Sponsored ADR	82481R106	35,222	171,813	SH		SOLE		171,813	0	0
St. Jude Medical, Inc.	Common	790849103	15,801	255,810	SH		SOLE		255,810	0	0
Stryker Corporation	Common	863667101	11,519	123,940	SH		SOLE		123,940	0	0
Supernus Pharmaceuticals, Inc.	Note 7.50% 5/1/19	868459AB4	5,356	2,000,000	PRN		SOLE		2,000,000	0	0
Tenet Healthcare Corporation	Common	88033G407	4,984	164,500	SH		SOLE		164,500	0	0
Tetraphase Pharmaceuticals Inc.	Common	88165N105	1,929	192,322	SH		SOLE		192,322	0	0
Teva Pharmaceutical Industries Ltd.	ADR	881624209	87,579	1,334,237	SH		SOLE		1,334,237	0	0
The Medicines Company	Common	584688105	15,010	401,970	SH		SOLE		401,970	0	0
Thermo Fisher Scientific Inc.	Common	883556102	12,255	86,395	SH		SOLE		86,395	0	0
Ultragenyx Pharmaceutical Inc.	Common	90400D108	9,917	88,400	SH		SOLE		88,400	0	0
UniQure NV	Shares	N90064101	2,903	175,500	SH		SOLE		175,500	0	0
United Therapeutics Corporation	Common	91307C102	14,580	93,100	SH		SOLE		93,100	0	0
UnitedHealth Group, Inc.	Common	91324P102	48,127	409,100	SH		SOLE		409,100	0	0
Universal Health Services, Inc.	Common	913903100	8,400	70,300	SH		SOLE		70,300	0	0
Ventas, Inc.	Common	92276F100	20,838	369,266	SH		SOLE		369,266	0	0
Vertex Pharmaceuticals Incorporated	Common	92532F100	130,046	1,033,503	SH		SOLE		1,033,503	0	0
WellCare Health Plans, Inc.	Common	94946T106	6,933	88,652	SH		SOLE		88,652	0	0
Welltower, Inc.	Preferred Convertible	95040Q203	12,182	200,000	PRN		SOLE		200,000	0	0
Xencor, Inc.	Common	98401F105	292	20,000	SH		SOLE		20,000	0	0
Zafgen, Inc.	Common	98885E103	84	13,307	SH		SOLE		13,307	0	0
Zimmer Biomet Holdings, Inc.	Common	98956P102	10,495	102,300	SH		SOLE		102,300	0	0