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
Abbott Laboratories	Common	002824100	37,482	953,500	SH		SOLE		953,500	0	0
Abbott Laboratories	Common	002824100	4,866	123,800	SH	Call	SOLE		247,600	0	0
AbbVie Inc.	Common	00287Y109	10	156	SH		SOLE		156	0	0
ACADIA Pharmaceuticals Inc.	Common	004225108	11,802	363,585	SH		SOLE		363,585	0	0
Accelerate Diagnostics, Inc.	Common	00430H102	3,808	264,625	SH		SOLE		264,625	0	0
Adaptimmune Therapeutics plc	Sponsored ADR	00653A107	2,420	296,934	SH		SOLE		296,934	0	0
Aegerion Pharmaceuticals, Inc.	Note 2.00% 8/15/19	00767EAB8	7,410	13,000,000	PRN		SOLE		13,000,000	0	0
Affimed NV	Common	N01045108	730	294,213	SH		SOLE		294,213	0	0
Agilent Technologies, Inc.	Common	00846U101	21,978	495,450	SH		SOLE		495,450	0	0
Akorn, Inc.	Common	009728106	6,986	245,235	SH		SOLE		245,235	0	0
Alexion Pharmaceuticals, Inc.	Common	015351109	79,608	681,805	SH		SOLE		681,805	0	0
Alkermes plc	Shares	G01767105	29,988	693,844	SH		SOLE		693,844	0	0
Alkermes plc	Common	G01767105	4,836	111,900	SH	Call	SOLE		111,900	0	0
Allergan plc	Common	G0177J108	107,199	463,886	SH		SOLE		463,886	0	0
Allergan plc	Preferred Convertible	G0177J116	4,168	5,000	SH		SOLE		5,000	0	0
Alliqua BioMedical, Inc.	Common	019621200	1,848	1,650,000	SH		SOLE		1,650,000	0	0
Allscripts Healthcare Solutions, Inc.	Common	01988P108	2,205	173,600	SH		SOLE		173,600	0	0
Alnylam Pharmaceuticals, Inc.	Common	02043Q107	13,539	243,995	SH		SOLE		243,995	0	0
AmerisourceBergen Corporation	Common	03073E105	29,864	376,500	SH		SOLE		376,500	0	0
AmerisourceBergen Corporation	Common	03073E105	3,292	41,500	SH	Call	SOLE		41,500	0	0
Amgen Inc.	Common	031162100	50,474	331,740	SH		SOLE		331,740	0	0
Amgen Inc.	Common	031162100	1,537	10,100	SH	Call	SOLE		10,100	0	0
Amicus Therapeutics, Inc.	Common	03152W109	1,409	258,000	SH		SOLE		258,000	0	0
ARCA biopharma, Inc.	Common	00211Y407	2,353	811,227	SH		SOLE		811,227	0	0
Ardelyx, Inc.	Common	039697107	12,129	1,389,370	SH		SOLE		1,389,370	0	0
ARIAD Pharmaceuticals Inc.	Common	04033A100	3,710	502,000	SH		SOLE		502,000	0	0
AstraZeneca PLC	Sponsored ADR	046353108	3,327	110,200	SH	Call	SOLE		110,200	0	0
AstraZeneca PLC	Sponsored ADR	046353108	17,329	574,000	SH		SOLE		574,000	0	0
Auris Medical Holding AG	Common	H03579101	3,496	834,263	SH		SOLE		834,263	0	0
BeiGene Ltd.	Sponsored ADR	07725L102	3,478	116,707	SH		SOLE		116,707	0	0
Bellicum Pharmaceuticals, Inc.	Common	079481107	778	60,000	SH		SOLE		60,000	0	0
Biogen Inc.	Common	09062X103	108,948	450,533	SH		SOLE		450,533	0	0
BioMarin Pharmaceutical Inc.	Common	09061G101	50,869	653,845	SH		SOLE		653,845	0	0
BioMarin Pharmaceutical Inc.	Common	09061G101	4,489	57,700	SH	Call	SOLE		57,700	0	0
bluebird bio, Inc.	Common	09609G100	2,136	49,345	SH		SOLE		49,345	0	0
Bristol-Myers Squibb Co.	Common	ADI0M9WV6	6,421	87,300	SH	Put	SOLE		87,300	0	0
Care Capital Properties, Inc.	Common	141624106	2,210	84,316	SH		SOLE		84,316	0	0
Celgene Corporation	Common	151020104	137,963	1,398,789	SH		SOLE		1,398,789	0	0
Celgene Corporation	Common	151020104	3,077	31,200	SH	Call	SOLE		31,200	0	0
Celldex Therapeutics, Inc.	Common	15117B103	464	105,800	SH		SOLE		105,800	0	0
Cellectis S.A.	Sponsored ADS	15117K103	8,250	310,250	SH		SOLE		310,250	0	0
Centene Corporation	Common	15135B101	8,564	120,000	SH		SOLE		120,000	0	0
Cepheid, Inc.	Common	15670R107	10,258	333,590	SH		SOLE		333,590	0	0
Cepheid, Inc.	Note 1.25% 2/1/21	15670RAC1	8,669	10,000,000	PRN		SOLE		10,000,000	0	0
Chimerix, Inc.	Common	16934W106	1,214	308,892	SH		SOLE		308,892	0	0
Cidara Therapeutics, Inc.	Common	171757107	1,366	132,472	SH		SOLE		132,472	0	0
Community Health Systems, Inc.	Common	203668108	3,669	304,472	SH		SOLE		304,472	0	0
Corsicanto Ltd	Note 3.50% 1/15/32	220480AB3	14,930	14,700,000	PRN		SOLE		14,700,000	0	0
CVS Caremark Corporation	Common	126650100	21,435	223,891	SH		SOLE		223,891	0	0
Cynapsus Therapeutics, Inc.	Common	23257Y859	7,708	460,207	SH		SOLE		460,207	0	0
CytomX Therapeutics, Inc.	Common	23284F105	7,723	756,090	SH		SOLE		756,090	0	0
DBV Technologies S.A.	Sponsored ADR	23306J101	2,140	65,600	SH		SOLE		65,600	0	0
Depomed Inc.	Common	249908104	3,924	200,000	SH		SOLE		200,000	0	0
Dynavax Technologies Corporation	Common	268158201	5,031	345,050	SH		SOLE		345,050	0	0
Egalet Corporation	Note 5.50% 4/1/20	28226BAB0	5,281	7,000,000	PRN		SOLE		7,000,000	0	0
Eli Lilly and Company	Common	532457108	39,577	502,567	SH		SOLE		502,567	0	0
Endo International plc	Shares	G30401106	4,464	286,348	SH		SOLE		286,348	0	0
Endologix Inc.	Common	29266S106	6,865	551,000	SH		SOLE		551,000	0	0
Epizyme, Inc.	Common	29428V104	4,096	400,000	SH		SOLE		400,000	0	0
Esperion Therapeutics, Inc.	Common	29664W105	1,016	102,800	SH		SOLE		102,800	0	0
Exelixis, Inc.	Common	30161Q104	10,976	1,405,420	SH		SOLE		1,405,420	0	0
Flamel Technologies SA	Sponsored ADR	338488109	6,705	624,288	SH		SOLE		624,288	0	0
Flex Pharm, Inc.	Common	33938A105	1,655	162,124	SH		SOLE		162,124	0	0
Foamix Pharmaceuticals Ltd.	Shares	M46135105	6,135	966,065	SH		SOLE		966,065	0	0
Forward Pharma A/S	Sponsored ADR	34986J105	2,481	136,547	SH		SOLE		136,547	0	0
Galapagos NV	Sponsored ADR	36315X101	8,195	147,738	SH		SOLE		147,738	0	0
GenMark Diagnostics, Inc.	Common	372309104	812	93,349	SH		SOLE		93,349	0	0
Gilead Sciences, Inc.	Common	375558103	209,529	2,511,731	SH		SOLE		2,511,731	0	0
Gilead Sciences, Inc.	Common	375558103	4,788	57,400	SH	Call	SOLE		57,400	0	0
GlaxoSmithKline plc	Common	37733W105	3,259	75,200	SH	Call	SOLE		75,200	0	0
GlaxoSmithKline plc	Sponsored ADR	37733W105	18,818	434,200	SH		SOLE		434,200	0	0
Global Blood Therapeutics, Inc.	Common	37890U108	2,074	125,000	SH		SOLE		125,000	0	0
Grifols SA	Sponsored ADR	398438408	2,767	166,000	SH		SOLE		166,000	0	0
Halozyme Therapeutics, Inc.	Common	40637H109	1,726	200,000	SH		SOLE		200,000	0	0
HCA Holdings, Inc.	Common	40412C101	25,798	334,998	SH		SOLE		334,998	0	0
Heron Therapeutics, Inc.	Common	427746102	8,886	492,303	SH		SOLE		492,303	0	0
Horizon Pharma plc	Shares	G4617B105	12,351	749,900	SH		SOLE		749,900	0	0
Humana Inc.	Common	444859102	23,258	129,300	SH		SOLE		129,300	0	0
ICON plc	Shares	G4705A100	5,041	72,000	SH		SOLE		72,000	0	0
IDEXX Laboratories, Inc.	Common	45168D104	12,290	132,352	SH		SOLE		132,352	0	0
Illumina Inc.	Common	452327109	52,132	371,364	SH		SOLE		371,364	0	0
Immunomedics, Inc.	Note 4.75% 2/15/20	452907AK4	2,715	4,000,000	PRN		SOLE		4,000,000	0	0
Impax Laboratories, Inc.	Common	45256B101	3,583	124,335	SH		SOLE		124,335	0	0
Incyte Corporation	Common	45337C102	70,419	880,461	SH		SOLE		880,461	0	0
Inotek Pharmaceuticals Corporation	Common	45780V102	1,345	180,762	SH		SOLE		180,762	0	0
Intellia Therapeutics, Inc.	Common	45826J105	1,854	86,842	SH		SOLE		86,842	0	0
Intra-Cellular Therapies, Inc.	Common	46116X101	7,290	187,800	SH		SOLE		187,800	0	0
Ishares Nasdaq Biotechnology ETF	ETF	464287556	14,841	57,670	SH		SOLE		57,670	0	0
Jazz Pharmaceuticals plc	Shares	G50871105	22,108	156,451	SH		SOLE		156,451	0	0
Johnson & Johnson	Common	478160104	40,916	337,312	SH		SOLE		337,312	0	0
Juno Therapeutics, Inc.	Common	48205A109	6,996	182,000	SH		SOLE		182,000	0	0
Karyopharm Therapeutics, Inc.	Common	48576U106	3,357	500,324	SH		SOLE		500,324	0	0
Kite Pharma, Inc.	Common	49803L109	2,050	41,000	SH		SOLE		41,000	0	0
LTC Properties Inc.	Common	502175102	5,494	106,212	SH		SOLE		106,212	0	0
Mallinckrodt plc	Shares	G5785G107	13,609	223,900	SH		SOLE		223,900	0	0
McKesson Corporation	Common	58155Q103	2,800	15,000	SH		SOLE		15,000	0	0
Medical Properties Trust, Inc.	Common	58463J304	13,999	920,393	SH		SOLE		920,393	0	0
The Medicines Company	Common	584668105	9,403	279,600	SH	Call	SOLE		279,600	0	0
The Medicines Company	Common	584688105	23,684	704,238	SH		SOLE		704,238	0	0
Medivation, Inc.	Common	58501N101	15,475	256,638	SH		SOLE		256,638	0	0
Medivation, Inc.	Common	58501N101	3,618	60,000	SH	Call	SOLE		60,000	0	0
Medtronic plc	Shares	G5960L103	59,325	683,704	SH		SOLE		683,704	0	0
Merck & Co., Inc.	Common	58933Y105	45,950	797,597	SH		SOLE		797,597	0	0
Merrimack Pharmaceuticals, Inc.	Note 4.50% 7/15/20	590328AA8	1,654	1,485,000	PRN		SOLE		1,485,000	0	0
Merrimack Pharmaceuticals, Inc.	Common	590328100	1,542	286,000	SH		SOLE		286,000	0	0
Merus B.V.	Common	N5749R100	2,113	260,000	SH		SOLE		260,000	0	0
Molina Healthcare, Inc.	Common	60855R100	26,841	537,901	SH		SOLE		537,901	0	0
Momenta Pharmaceuticals, Inc.	Common	60877T100	1,660	153,700	SH		SOLE		153,700	0	0
Mylan NV	Shares	N59465109	31,243	722,552	SH		SOLE		722,552	0	0
Mylan NV	Shares	N59465109	4,523	104,600	SH	Call	SOLE		104,600	0	0
Natera, Inc.	Common	632307104	10,646	882,358	SH		SOLE		882,358	0	0
Neurocrine Biosciences, Inc.	Common	64125C109	34,861	767,022	SH		SOLE		767,022	0	0
Neurocrine Biosciences, Inc.	Common	64125C109	5,018	110,400	SH	Call	SOLE		110,400	0	0
Nevro Corp.	Common	64157F103	3,673	49,800	SH		SOLE		49,800	0	0
Novartis AG	Sponsored ADR	66987V109	14,035	170,100	SH		SOLE		170,100	0	0
Novavax, Inc.	Common	670002104	2,603	358,000	SH		SOLE		358,000	0	0
Omega Healthcare Investors Inc.	Common	681936100	14,025	413,116	SH		SOLE		413,116	0	0
Paratek Pharmaceuticals, Inc.	Common	699374302	10,608	762,581	SH		SOLE		762,581	0	0
Perrigo Company plc	Shares	G97822103	3,382	37,300	SH		SOLE		37,300	0	0
Pfizer Inc.	Common	717081103	52,227	1,483,291	SH		SOLE		1,483,291	0	0
Physicians Realty Trust	Common	71943U104	11,149	530,672	SH		SOLE		530,672	0	0
Pieris Pharmaceuticals, Inc.	Common	720795103	6,196	3,848,191	SH		SOLE		3,848,191	0	0
PRA Health Sciences, Inc.	Common	69354M108	4,260	102,000	SH		SOLE		102,000	0	0
Puma Biotechnology, Inc.	Common	74587V107	7,751	260,200	SH		SOLE		260,200	0	0
Quorum Health Corp.	Common	74909E106	815	76,118	SH		SOLE		76,118	0	0
Regeneron Pharmaceuticals, Inc.	Common	75886F107	53,874	154,266	SH		SOLE		154,266	0	0
Retrophin, Inc.	Common	761299106	5,876	329,949	SH		SOLE		329,949	0	0
Revance Therapeutics, Inc.	Common	761330109	1,020	75,000	SH		SOLE		75,000	0	0
The RMR Group Inc., Class A	Class A	74967R106	230	7,441	SH		SOLE		7,441	0	0
Sabra Health Care REIT Inc.	Common	78573L106	9,413	456,190	SH		SOLE		456,190	0	0
Sage Therapeutics, Inc.	Common	78667J108	4,423	146,800	SH		SOLE		146,800	0	0
Sagent Pharmaceuticals, Inc.	Common	786692103	4,294	286,650	SH		SOLE		286,650	0	0
Sanofi	Sponsored ADR	80105N105	12,764	305,000	SH		SOLE		305,000	0	0
Senior Housing Properties Trust	Shares	81721M109	13,967	670,504	SH		SOLE		670,504	0	0
Shire plc	Sponsored ADR	82481R106	37,131	201,713	SH		SOLE		201,713	0	0
SPDR S&P Biotech ETF	S&P Biotech	78464A870	15,902	294,000	SH		SOLE		294,000	0	0
St. Jude Medical, Inc.	Common	790849103	12,387	158,805	SH		SOLE		158,805	0	0
Supernus Pharmaceuticals, Inc.	Note 7.50% 5/1/19	868459AB4	7,688	2,000,000	PRN		SOLE		2,000,000	0	0
Tenet Healthcare Corporation	Common	88033G407	4,547	164,500	SH		SOLE		164,500	0	0
Tetraphase Pharmaceuticals Inc.	Common	88165N105	827	192,322	SH		SOLE		192,322	0	0
Teva Pharmaceutical Industries Ltd.	ADR	881624209	33,752	671,958	SH		SOLE		671,958	0	0
Thermo Fisher Scientific Inc.	Common	883556102	12,766	86,395	SH		SOLE		86,395	0	0
Ultragenyx Pharmaceutical Inc.	Common	90400D108	4,324	88,400	SH		SOLE		88,400	0	0
UniQure NV	Shares	N90064101	1,776	241,021	SH		SOLE		241,021	0	0
United Therapeutics Corporation	Common	91307C102	9,861	93,100	SH		SOLE		93,100	0	0
UnitedHealth Group, Inc.	Common	91324P102	46,751	331,100	SH		SOLE		331,100	0	0
Universal Health Services, Inc.	Class B	913903100	18,061	134,680	SH		SOLE		134,680	0	0
Valeant Pharmaceuticals International, Inc.	Common	91911K102	3,867	192,000	SH		SOLE		192,000	0	0
Ventas, Inc.	Common	92276F100	11,104	152,491	SH		SOLE		152,491	0	0
Vertex Pharmaceuticals Incorporated	Common	92532F100	88,902	1,033,503	SH		SOLE		1,033,503	0	0
Welltower, Inc.	Preferred Convertible	95040Q203	13,560	200,000	SH		SOLE		200,000	0	0
Wright Medical Group NV	Ordinary Shares	N96617118	6,999	402,950	SH		SOLE		402,950	0	0
Wright Medical Group NV	Ordinary Shares	N96617118	2,936	169,000	SH	Call	SOLE		169,000	0	0
Xencor, Inc.	Common	98401F105	380	20,000	SH		SOLE		20,000	0	0
Zafgen, Inc.	Common	98885E103	80	13,307	SH		SOLE		13,307	0	0
Zimmer Biomet Holdings, Inc.	Common	98956P102	12,315	102,300	SH		SOLE		102,300	0	0