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
Abbott Laboratories	Common	002824100	60,830	1,583,700	SH		SOLE		1,583,700	0	0
AbbVie Inc.	Common	00287Y109	10	156	SH		SOLE		156	0	0
Acadia Healthcare Company, Inc.	Common	00404A109	2,148	64,900	SH		SOLE		64,900	0	0
ACADIA Pharmaceuticals Inc.	Common	004225108	3,224	111,800	SH		SOLE		111,800	0	0
Accelerate Diagnostics, Inc.	Common	00430H102	2,490	120,000	SH		SOLE		120,000	0	0
Acceleron Pharma, Inc.	Common	00434H108	1,390	54,450	SH		SOLE		54,450	0	0
Achillion Pharmaceuticals, Inc.	Common	00448Q201	1,833	443,851	SH		SOLE		443,851	0	0
Adamas Pharmaceuticals, Inc.	Common	00548A106	2,121	125,504	SH		SOLE		125,504	0	0
Adaptimmune Therapeutics plc	Sponsored ADR	00653A107	2,294	566,368	SH		SOLE		566,368	0	0
Aegerion Pharmaceuticals, Inc.	Note 2.00% 5/15/19	00767EAB8	9,263	13,000,000	PRN		SOLE		13,000,000	0	0
Affimed NV	Common	N01045108	530	294,213	SH		SOLE		294,213	0	0
Akorn, Inc.	Common	009728106	7,154	327,735	SH		SOLE		327,735	0	0
Alexion Pharmaceuticals, Inc.	Common	015351109	97,379	795,905	SH		SOLE		795,905	0	0
Allergan plc	Common	G0177J108	91,162	434,086	SH		SOLE		434,086	0	0
Allergan plc	Preferred Convertible	G0177J116	3,812	5,000	SH		SOLE		5,000	0	0
Alliqua BioMedical, Inc.	Common	019621200	974	1,650,000	SH		SOLE		1,650,000	0	0
Allscripts Healthcare Solutions, Inc.	Common	01988P108	1,772	173,600	SH		SOLE		173,600	0	0
Alnylam Pharmaceuticals, Inc.	Common	02043Q107	9,135	243,995	SH		SOLE		243,995	0	0
AmerisourceBergen Corporation	Common	03073E105	25,856	330,687	SH		SOLE		330,687	0	0
Amgen Inc.	Common	031162100	47,027	321,640	SH		SOLE		321,640	0	0
Amicus Therapeutics, Inc.	Common	03152W109	2,081	418,730	SH		SOLE		418,730	0	0
ARCA biopharma, Inc.	Common	00211Y407	2,312	811,227	SH		SOLE		811,227	0	0
Ardelyx, Inc.	Common	039697107	9,079	639,370	SH		SOLE		639,370	0	0
AstraZeneca PLC	Sponsored ADR	046353108	12,671	463,800	SH		SOLE		463,800	0	0
Auris Medical Holding AG	Common	H03579101	829	774,504	SH		SOLE		774,504	0	0
Becton, Dickinson and Co.	Common	075887109	10,443	63,078	SH		SOLE		63,078	0	0
BeiGene, Ltd.	Sponsored ADR	07725L102	3,543	116,707	SH		SOLE		116,707	0	0
Bellicum Pharmaceuticals, Inc.	Common	079481107	817	60,000	SH		SOLE		60,000	0	0
Biogen Inc.	Common	09062X103	152,382	537,350	SH		SOLE		537,350	0	0
BioMarin Pharmaceutical Inc.	Common	09061G101	47,438	572,645	SH		SOLE		572,645	0	0
bluebird bio, Inc.	Common	09609G100	3,045	49,345	SH		SOLE		49,345	0	0
Cardinal Health, Inc.	Common	14149Y108	10,975	152,500	SH		SOLE		152,500	0	0
Care Capital Properties, Inc.	Common	141624106	8,626	345,022	SH		SOLE		345,022	0	0
Celgene Corporation	Common	151020104	163,195	1,409,889	SH		SOLE		1,409,889	0	0
Celldex Therapeutics, Inc.	Common	15117B103	375	105,800	SH		SOLE		105,800	0	0
Cellectis S.A.	Sponsored ADR	15117K103	5,259	310,250	SH		SOLE		310,250	0	0
Centene Corporation	Common	15135B101	22,604	400,000	SH		SOLE		400,000	0	0
Charles River Laboratories International, Inc.	Common	159864107	9,722	127,600	SH		SOLE		127,600	0	0
Chimerix, Inc.	Common	16934W106	1,421	308,892	SH		SOLE		308,892	0	0
Cidara Therapeutics, Inc.	Common	171757107	1,378	132,472	SH		SOLE		132,472	0	0
Cigna Corporation	Common	125509109	11,525	86,400	SH		SOLE		86,400	0	0
Coherus Biosciences, Inc.	Common	19249H103	2,534	90,000	SH		SOLE		90,000	0	0
Community Health Systems, Inc.	Common	203668108	1,140	203,935	SH		SOLE		203,935	0	0
CVS Health Corporation	Common	126650100	32,502	411,891	SH		SOLE		411,891	0	0
CytomX Therapeutics, Inc.	Common	23284F105	8,309	756,090	SH		SOLE		756,090	0	0
DBV Technologies S.A.	Sponsored ADR	23306J101	2,305	65,600	SH		SOLE		65,600	0	0
Dermira, Inc.	Common	24983L104	5,011	165,200	SH		SOLE		165,200	0	0
Diplomat Pharmacy, Inc.	Common	25456K101	1,641	130,223	SH		SOLE		130,223	0	0
Dynavax Technologies Corporation	Common	268158201	1,363	345,050	SH		SOLE		345,050	0	0
Egalet Corporation	Note 5.50% 4/1/20	28226BAB0	6,059	7,000,000	PRN		SOLE		7,000,000	0	0
Eli Lilly & Company	Common	532457108	36,268	493,100	SH		SOLE		493,100	0	0
Endo International plc	Shares	G30401106	15,063	914,548	SH		SOLE		914,548	0	0
Endologix, Inc.	Common	29266S106	2,212	386,750	SH		SOLE		386,750	0	0
Epizyme, Inc.	Common	29428V104	4,840	400,000	SH		SOLE		400,000	0	0
Esperion Therapeutics, Inc.	Common	29664W105	1,287	102,800	SH		SOLE		102,800	0	0
Exelixis, Inc.	Common	30161Q104	8,225	551,647	SH		SOLE		551,647	0	0
Flamel Technologies SA	Sponsored ADR	338488109	6,486	624,288	SH		SOLE		624,288	0	0
Flex Pharma, Inc.	Common	33938A105	856	162,124	SH		SOLE		162,124	0	0
Foamix Pharmaceuticals Ltd	Shares	M46135105	10,327	930,398	SH		SOLE		930,398	0	0
Forward Pharma A/S	Sponsored ADR	34986J105	2,050	136,547	SH		SOLE		136,547	0	0
Galapagos NV	Sponsored ADR	36315X101	7,429	115,738	SH		SOLE		115,738	0	0
GenMark Diagnostics, Inc.	Common	372309104	1,143	93,349	SH		SOLE		93,349	0	0
Gilead Sciences, Inc.	Common	375558103	181,183	2,530,131	SH		SOLE		2,530,131	0	0
GlaxoSmithKline plc	Sponsored ADR	37733W105	13,825	359,000	SH		SOLE		359,000	0	0
Global Blood Therapeutics, Inc.	Common	37890U108	5,510	381,300	SH		SOLE		381,300	0	0
Global Medical REIT Inc.	Common	37954A204	655	73,400	SH		SOLE		73,400	0	0
Grifols, S.A.	Sponsored ADR	398438408	2,668	166,000	SH		SOLE		166,000	0	0
Halozyme Therapeutics, Inc.	Common	40637H109	1,976	200,000	SH		SOLE		200,000	0	0
HCA Holdings, Inc.	Common	40412C101	14,081	190,232	SH		SOLE		190,232	0	0
HCP, Inc.	Common	40414L109	1,352	45,500	SH		SOLE		45,500	0	0
Healthcare Realty Trust, Inc.	Common	421946104	2,062	68,000	SH		SOLE		68,000	0	0
Healthcare Trust of America, Inc.	Class A	42225P501	1,339	46,000	SH		SOLE		46,000	0	0
Horizon Pharma plc	Shares	G4617B105	2,636	162,900	SH		SOLE		162,900	0	0
Humana Inc.	Common	444859102	33,624	164,800	SH		SOLE		164,800	0	0
ICON plc	Shares	G4705A100	5,414	72,000	SH		SOLE		72,000	0	0
IDEXX Laboratories, Inc.	Common	45168D104	15,521	132,352	SH		SOLE		132,352	0	0
Illumina, Inc.	Common	452327109	31,570	246,560	SH		SOLE		246,560	0	0
Immunomedics, Inc.	Note 4.75% 2/15/20	452907AK4	3,960	4,000,000	PRN		SOLE		4,000,000	0	0
Impax Laboratories, Inc.	Common	45256B101	1,647	124,335	SH		SOLE		124,335	0	0
Incyte Corporation	Common	45337C102	88,284	880,461	SH		SOLE		880,461	0	0
Intellia Therapeutics, Inc.	Common	45826J105	942	71,842	SH		SOLE		71,842	0	0
iShares Nasdaq Biotechnology ETF	ETF	464287556	15,304	57,670	SH		SOLE		57,670	0	0
Jazz Pharmaceuticals plc	Shares	G50871105	36,134	331,411	SH		SOLE		331,411	0	0
Johnson & Johnson	Common	478160104	51,062	443,212	SH		SOLE		443,212	0	0
Juno Therapeutics, Inc.	Common	48205A109	1,073	56,900	SH		SOLE		56,900	0	0
Karyopharm Therapeutics Inc.	Common	48576U106	4,703	500,324	SH		SOLE		500,324	0	0
LTC Properties, Inc.	Common	502175102	6,399	136,212	SH		SOLE		136,212	0	0
Mallinckrodt plc	Shares	G5785G107	3,084	61,900	SH		SOLE		61,900	0	0
McKesson Corporation	Common	58155Q103	2,107	15,000	SH		SOLE		15,000	0	0
Medical Properties Trust, Inc.	Common	58463J304	12,395	1,007,717	SH		SOLE		1,007,717	0	0
The Medicines Company	Common	584688105	26,189	771,638	SH		SOLE		771,638	0	0
Medtronic plc	Shares	G5960L103	44,378	623,030	SH		SOLE		623,030	0	0
Merck & Co., Inc.	Common	58933Y105	70,547	1,198,349	SH		SOLE		1,198,349	0	0
Merus B.V.	Common	N5749R100	10,115	479,150	SH		SOLE		479,150	0	0
Molina Healthcare, Inc.	Common	60855R100	21,842	402,541	SH		SOLE		402,541	0	0
Momenta Pharmaceuticals, Inc.	Common	60877T100	4,614	306,600	SH		SOLE		306,600	0	0
Mylan N.V.	Shares	N59465109	43,321	1,135,552	SH		SOLE		1,135,552	0	0
Myovant Sciences Ltd.	Common	G637AM102	4,976	400,000	SH		SOLE		400,000	0	0
Nabriva Therapeutics AG	Sponsored ADR	62957M104	2,083	350,000	SH		SOLE		350,000	0	0
Natera, Inc.	Common	632307104	10,332	882,358	SH		SOLE		882,358	0	0
Neurocrine Biosciences, Inc.	Common	64125C109	15,165	391,869	SH		SOLE		391,869	0	0
New Senior Investment Group Inc.	Common	648691103	5,561	567,997	SH		SOLE		567,997	0	0
Novartis AG	Sponsored ADR	66987V109	18,123	248,800	SH		SOLE		248,800	0	0
Novavax, Inc.	Common	670002104	719	571,000	SH		SOLE		571,000	0	0
Omega Healthcare Investors, Inc.	Common	681936100	14,336	458,616	SH		SOLE		458,616	0	0
Paratek Pharmaceuticals, Inc.	Common	699374302	11,744	762,581	SH		SOLE		762,581	0	0
Perrigo Company plc	Shares	G97822103	3,104	37,300	SH		SOLE		37,300	0	0
Pfizer Inc.	Common	717081103	37,244	1,146,689	SH		SOLE		1,146,689	0	0
Physicians Realty Trust	Common	71943U104	10,062	530,672	SH		SOLE		530,672	0	0
Pieris Pharmaceuticals, Inc.	Common	720795103	5,804	4,145,958	SH		SOLE		4,145,958	0	0
PRA Health Sciences, Inc.	Common	69354M108	5,622	102,000	SH		SOLE		102,000	0	0
Puma Biotechnology, Inc.	Common	74587V107	7,988	260,200	SH		SOLE		260,200	0	0
Quorum Health Corporation	Common	74909E106	172	23,725	SH		SOLE		23,725	0	0
Regeneron Pharmaceuticals, Inc.	Common	75886F107	68,890	187,666	SH		SOLE		187,666	0	0
Retrophin, Inc.	Common	761299106	3,179	167,949	SH		SOLE		167,949	0	0
The RMR Group Inc.	Class A	74967R106	294	7,441	SH		SOLE		7,441	0	0
Sabra Health Care REIT, Inc.	Common	78573L106	13,455	550,990	SH		SOLE		550,990	0	0
Sage Therapeutics, Inc.	Common	78667J108	2,757	54,000	SH		SOLE		54,000	0	0
Sanofi	Sponsored ADR	80105N105	12,334	305,000	SH		SOLE		305,000	0	0
Sarepta Therapeutics, Inc.	Common	803607100	12,791	466,300	SH		SOLE		466,300	0	0
Senior Housing Properties Trust	Shares	81721M109	12,239	646,554	SH		SOLE		646,554	0	0
Shire plc	Sponsored ADR	82481R106	39,428	231,413	SH		SOLE		231,413	0	0
Spark Therapeutics, Inc.	Common	84652J103	1,213	24,300	SH		SOLE		24,300	0	0
SPDR S&P Biotech ETF	ETF	78464A870	10,595	179,000	SH		SOLE		179,000	0	0
Tenet Healthcare Corporation	Common	88033G407	2,441	164,500	SH		SOLE		164,500	0	0
Tetraphase Pharmaceuticals, Inc.	Common	88165N105	775	192,322	SH		SOLE		192,322	0	0
Teva Pharmaceutical Industries Ltd.	Sponsored ADR	881624209	28,600	788,958	SH		SOLE		788,958	0	0
TherapeuticsMD, Inc.	Common	88338N107	1,080	187,100	SH		SOLE		187,100	0	0
Thermo Fisher Scientific Inc.	Common	883556102	19,912	141,120	SH		SOLE		141,120	0	0
Ultragenyx Pharmaceutical Inc.	Common	90400D108	6,215	88,400	SH		SOLE		88,400	0	0
uniQure N.V.	Shares	N90064101	1,350	241,021	SH		SOLE		241,021	0	0
United Therapeutics Corporation	Common	91307C102	13,353	93,100	SH		SOLE		93,100	0	0
UnitedHealth Group Inc.	Common	91324P102	39,357	245,920	SH		SOLE		245,920	0	0
Universal Health Services, Inc.	Class B	913903100	15,614	146,780	SH		SOLE		146,780	0	0
Valeant Pharmaceuticals International, Inc.	Common	91911K102	2,788	192,000	SH		SOLE		192,000	0	0
Ventas, Inc.	Common	92276F100	11,003	175,991	SH		SOLE		175,991	0	0
Vertex Pharmaceuticals Incorporated	Common	92532F100	76,138	1,033,503	SH		SOLE		1,033,503	0	0
Welltower Inc.	6.50% Preferred Perpetual	95040Q203	12,036	200,000	SH		SOLE		200,000	0	0
Welltower Inc.	Common	95040Q104	1,432	21,400	SH		SOLE		21,400	0	0
Xencor, Inc.	Common	98401F105	526	20,000	SH		SOLE		20,000	0	0
Xenon Pharmaceuticals Inc.	Common	98420N105	5,390	700,000	SH		SOLE		700,000	0	0
Zafgen, Inc.	Common	98885E103	42	13,307	SH		SOLE		13,307	0	0
Zimmer Biomet Holdings, Inc.	Common	98956P102	10,557	102,300	SH		SOLE		102,300	0	0