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	56,024	1,152,520	SH		SOLE		1,152,520	0	0
AbbVie Inc.	Common	00287Y109	15	213	SH		SOLE		213	0	0
Acadia Healthcare Company, Inc.	Common	00404A109	11,417	231,200	SH		SOLE		231,200	0	0
Accelerate Diagnostics, Inc.	Common	00430H102	2,735	100,000	SH		SOLE		100,000	0	0
Acceleron Pharma Inc.	Common	00434H108	1,813	59,654	SH		SOLE		59,654	0	0
Adaptimmune Therapeutics plc	Sponsored ADR	00653A107	6,584	1,466,368	SH		SOLE		1,466,368	0	0
Aegerion Pharmaceuticals, Inc.	Note 2.00% 5/15/19	00767EAB8	10,546	13,000,000	PRN		SOLE		13,000,000	0	0
Affimed N.V.	Common	N01045108	2,881	1,405,324	SH		SOLE		1,405,324	0	0
Akorn, Inc.	Common	009728106	10,992	327,735	SH		SOLE		327,735	0	0
Alexion Pharmaceuticals, Inc.	Common	015351109	91,363	750,905	SH		SOLE		750,905	0	0
Allergan plc	Shares	G0177J108	75,506	310,610	SH		SOLE		310,610	0	0
Allergan plc	Preferred Convertible Series A	G0177J116	4,340	5,000	SH		SOLE		5,000	0	0
Alliqua BioMedical, Inc.	Common	019621200	611	1,650,000	SH		SOLE		1,650,000	0	0
Allscripts Healthcare Solutions, Inc.	Common	01988P108	604	47,300	SH		SOLE		47,300	0	0
Alnylam Pharmaceuticals, Inc.	Common	02043Q107	9,170	114,966	SH		SOLE		114,966	0	0
AmerisourceBergen Corporation	Common	03073E105	24,094	254,887	SH		SOLE		254,887	0	0
Amgen Inc.	Common	031162100	117,947	684,824	SH		SOLE		684,824	0	0
Amicus Therapeutics, Inc.	Common	03152W109	1,619	160,730	SH		SOLE		160,730	0	0
ARCA biopharma, Inc.	Common	00211Y407	1,988	811,227	SH		SOLE		811,227	0	0
Ardelyx, Inc.	Common	039697107	3,261	639,370	SH		SOLE		639,370	0	0
Argenx SE	Sponsored ADR	04016X101	1,591	75,000	SH		SOLE		75,000	0	0
AstraZeneca PLC	Sponsored ADR	046353108	18,770	550,600	SH		SOLE		550,600	0	0
Auris Medical Holding AG	Common	H03579101	554	774,504	SH		SOLE		774,504	0	0
Avadel Pharmaceuticals plc	Sponsored ADR	05337M104	6,886	624,288	SH		SOLE		624,288	0	0
Avexis, Inc.	Common	05366U100	822	10,000	SH		SOLE		10,000	0	0
Bellicum Pharmaceuticals, Inc.	Common	079481107	701	60,000	SH		SOLE		60,000	0	0
Biogen Inc.	Common	09062X103	143,759	529,774	SH		SOLE		529,774	0	0
BioMarin Pharmaceutical Inc.	Common	09061G101	45,568	501,745	SH		SOLE		501,745	0	0
bluebird bio, Inc.	Common	09609G100	1,394	13,273	SH		SOLE		13,273	0	0
Bristol-Myers Squibb Co.	Common	110122108	10,392	186,500	SH		SOLE		186,500	0	0
Cardinal Health, Inc.	Common	14149Y108	5,969	76,600	SH		SOLE		76,600	0	0
Celgene Corporation	Common	151020104	189,169	1,456,605	SH		SOLE		1,456,605	0	0
Celldex Therapeutics, Inc.	Common	15117B103	261	105,800	SH		SOLE		105,800	0	0
Cellectis S.A.	Sponsored ADR	15117K103	8,011	310,250	SH		SOLE		310,250	0	0
Centene Corporation	Common	15135B101	15,385	192,600	SH		SOLE		192,600	0	0
Charles River Laboratories International, Inc.	Common	159864107	12,856	127,100	SH		SOLE		127,100	0	0
Cidara Therapeutics, Inc.	Common	171757107	2,149	286,472	SH		SOLE		286,472	0	0
Cigna Corporation	Common	125509109	14,044	83,900	SH		SOLE		83,900	0	0
Clovis Oncology, Inc.	Common	189464100	14,119	150,800	SH		SOLE		150,800	0	0
Coherus Biosciences, Inc.	Common	19249H103	1,292	90,000	SH		SOLE		90,000	0	0
Community Health Systems, Inc.	Common	203668108	2,031	203,935	SH		SOLE		203,935	0	0
CVS Health Corporation	Common	126650100	33,141	411,891	SH		SOLE		411,891	0	0
CytomX Therapeutics, Inc.	Common	23284F105	8,216	530,092	SH		SOLE		530,092	0	0
DBV Technologies S.A.	Sponsored ADR	23306J101	2,278	63,800	SH		SOLE		63,800	0	0
Dermira, Inc.	Common	24983L104	11,274	386,900	SH		SOLE		386,900	0	0
DexCom, Inc.	Common	252131107	6,181	84,500	SH		SOLE		84,500	0	0
Diplomat Pharmacy, Inc.	Common	25456K101	6,833	461,712	SH		SOLE		461,712	0	0
Dynavax Technologies Corporation	Common	268158201	3,330	345,050	SH		SOLE		345,050	0	0
Egalet Corporation	Note 5.50% 4/1/20	28226BAB0	4,454	7,000,000	PRN		SOLE		7,000,000	0	0
Eli Lilly & Company	Common	532457108	40,582	493,100	SH		SOLE		493,100	0	0
Endo International plc	Shares	G30401106	10,216	914,548	SH		SOLE		914,548	0	0
Entellus Medical, Inc.	Common	29363K105	5,655	341,471	SH		SOLE		341,471	0	0
Epizyme, Inc.	Common	29428V104	4,243	281,000	SH		SOLE		281,000	0	0
Exelixis, Inc.	Common	30161Q104	13,587	551,647	SH		SOLE		551,647	0	0
Express Scripts Holding Company	Common	30219G108	5,394	84,500	SH		SOLE		84,500	0	0
Flex Pharma, Inc.	Common	33938A105	614	159,549	SH		SOLE		159,549	0	0
Foamix Pharmaceuticals Ltd	Shares	M46135105	4,317	930,398	SH		SOLE		930,398	0	0
Galapagos NV	Sponsored ADR	36315X101	1,454	19,000	SH		SOLE		19,000	0	0
GenMark Diagnostics, Inc.	Common	372309104	1,104	93,349	SH		SOLE		93,349	0	0
Gilead Sciences, Inc.	Common	375558103	179,083	2,530,131	SH		SOLE		2,530,131	0	0
GlaxoSmithKline plc	Shares	37733W105	15,480	359,000	SH		SOLE		359,000	0	0
Global Blood Therapeutics, Inc.	Common	37890U108	3,419	125,000	SH		SOLE		125,000	0	0
Global Medical REIT Inc.	Common	37954A204	656	73,400	SH		SOLE		73,400	0	0
HCA Healthcare, Inc.	Common	40412C101	8,304	95,232	SH		SOLE		95,232	0	0
HCP, Inc.	Common	40414L109	1,454	45,500	SH		SOLE		45,500	0	0
Healthcare Realty Trust Inc.	Common	421946104	2,322	68,000	SH		SOLE		68,000	0	0
Healthcare Trust of America, Inc.	Class A	42225P501	1,431	46,000	SH		SOLE		46,000	0	0
Horizon Pharma plc	Shares	G4617B105	1,934	162,900	SH		SOLE		162,900	0	0
Humana Inc.	Common	444859102	30,025	124,781	SH		SOLE		124,781	0	0
IDEXX Laboratories, Inc.	Common	45168D104	21,364	132,352	SH		SOLE		132,352	0	0
Illumina, Inc.	Common	452327109	48,405	278,960	SH		SOLE		278,960	0	0
Impax Laboratories, Inc.	Common	45256B101	2,002	124,335	SH		SOLE		124,335	0	0
Incyte Corporation	Common	45337C102	87,290	693,275	SH		SOLE		693,275	0	0
Innoviva, Inc.	Common	45781M101	3,185	248,803	SH		SOLE		248,803	0	0
Intellia Therapeutics, Inc.	Common	45826J105	448	28,000	SH		SOLE		28,000	0	0
iShares Nasdaq Biotechnology ETF	Nasdaq Biotech ETF	464287556	23,557	75,970	SH		SOLE		75,970	0	0
Jazz Pharmaceuticals plc	Shares	G50871105	42,594	273,916	SH		SOLE		273,916	0	0
Johnson & Johnson	Common	478160104	94,503	714,362	SH		SOLE		714,362	0	0
Juno Therapeutics, Inc.	Common	48205A109	1,701	56,900	SH		SOLE		56,900	0	0
Karyopharm Therapeutics Inc.	Common	48576U106	6,848	756,679	SH		SOLE		756,679	0	0
LTC Properties, Inc.	Common	502175102	7,000	136,212	SH		SOLE		136,212	0	0
Mallinckrodt plc	Shares	G5785G107	2,774	61,900	SH		SOLE		61,900	0	0
McKesson Corporation	Common	58155Q103	23,496	142,800	SH		SOLE		142,800	0	0
Medical Properties Trust, Inc.	Common	58463J304	12,969	1,007,717	SH		SOLE		1,007,717	0	0
Medtronic plc	Shares	G5960L103	51,504	580,326	SH		SOLE		580,326	0	0
Merck & Co., Inc.	Common	58933Y105	94,423	1,473,295	SH		SOLE		1,473,295	0	0
Merus B.V.	Common	N5749R100	7,595	479,150	SH		SOLE		479,150	0	0
Momenta Pharmaceuticals, Inc.	Common	60877T100	2,584	152,900	SH		SOLE		152,900	0	0
Mylan N.V.	Shares	N59465109	62,233	1,603,112	SH		SOLE		1,603,112	0	0
Myovant Sciences Ltd.	Common	G637AM102	4,680	400,000	SH		SOLE		400,000	0	0
Nabriva Therapeutics plc	Shares	G63637105	1,677	149,334	SH		SOLE		149,334	0	0
NanoString Technologies, Inc.	Common	63009R109	1,877	113,500	SH		SOLE		113,500	0	0
Natera, Inc.	Common	632307104	5,275	485,758	SH		SOLE		485,758	0	0
Neurocrine Biosciences, Inc.	Common	64125C109	25,873	562,467	SH		SOLE		562,467	0	0
Nevro Corp.	Common	64157F103	14,486	194,621	SH		SOLE		194,621	0	0
New Senior Investment Group Inc.	Common	648691103	5,708	567,997	SH		SOLE		567,997	0	0
Novartis AG	Sponsored ADR	66987V109	33,276	398,662	SH		SOLE		398,662	0	0
Novavax, Inc.	Common	670002104	657	571,000	SH		SOLE		571,000	0	0
Novo Nordisk A/S	Sponsored ADR	670100205	9,320	217,300	SH		SOLE		217,300	0	0
Omega Healthcare Investors, Inc.	Common	681936100	15,144	458,616	SH		SOLE		458,616	0	0
Ovid Therapeutics Inc.	Common	690469101	5,229	535,824	SH		SOLE		535,824	0	0
Paratek Pharmaceuticals, Inc.	Common	699374302	12,845	533,000	SH		SOLE		533,000	0	0
Perrigo Company plc	Shares	G97822103	2,817	37,300	SH		SOLE		37,300	0	0
Pfizer Inc.	Common	717081103	27,211	810,087	SH		SOLE		810,087	0	0
Physicians Realty Trust	Common	71943U104	10,688	530,672	SH		SOLE		530,672	0	0
Pieris Pharmaceuticals, Inc.	Common	720795103	14,358	2,837,573	SH		SOLE		2,837,573	0	0
PRA Health Sciences, Inc.	Common	69354M108	7,651	102,000	SH		SOLE		102,000	0	0
Puma Biotechnology, Inc.	Common	74587V107	17,702	202,537	SH		SOLE		202,537	0	0
Quorum Health Corporation	Common	74909E106	98	23,725	SH		SOLE		23,725	0	0
Ra Pharmaceuticals, Inc.	Common	74933V108	7,418	395,818	SH		SOLE		395,818	0	0
Regeneron Pharmaceuticals, Inc.	Common	75886F107	92,170	187,666	SH		SOLE		187,666	0	0
Retrophin, Inc.	Common	761299106	3,257	167,949	SH		SOLE		167,949	0	0
The RMR Group Inc.	Class A	74967R106	362	7,441	SH		SOLE		7,441	0	0
Sabra Health Care REIT, Inc.	Common	78573L106	13,279	550,990	SH		SOLE		550,990	0	0
Sage Therapeutics, Inc.	Common	78667J108	7,206	90,480	SH		SOLE		90,480	0	0
Sanofi	Sponsored ADR	80105N105	8,619	179,900	SH		SOLE		179,900	0	0
Sarepta Therapeutics, Inc.	Common	803607100	17,246	511,600	SH		SOLE		511,600	0	0
Seattle Genetics, Inc.	Common	812578102	11,574	223,700	SH		SOLE		223,700	0	0
Senior Housing Properties Trust	Shares	81721M109	13,216	646,554	SH		SOLE		646,554	0	0
Shire plc	Sponsored ADR	82481R106	41,667	252,113	SH		SOLE		252,113	0	0
Spark Therapeutics, Inc.	Common	84652J103	1,452	24,300	SH		SOLE		24,300	0	0
SPDR S&P Biotech ETF	S&P Biotech ETF	78464A870	17,478	226,460	SH		SOLE		226,460	0	0
Syndax Pharmaceuticals, Inc.	Common	87164F105	2,794	200,000	SH		SOLE		200,000	0	0
Tenet Healthcare Corporation	Common	88033G407	6,062	313,440	SH		SOLE		313,440	0	0
Tetraphase Pharmaceuticals, Inc.	Common	88165N105	7,161	1,004,322	SH		SOLE		1,004,322	0	0
Teva Pharmaceutical Industries Ltd.	Sponsored ADR	881624209	33,743	1,015,758	SH		SOLE		1,015,758	0	0
Thermo Fisher Scientific Inc.	Common	883556102	24,272	139,120	SH		SOLE		139,120	0	0
Trillium Therapeutics Inc.	Common	89620X506	1,980	500,000	SH		SOLE		500,000	0	0
Ultragenyx Pharmaceutical Inc.	Common	90400D108	7,907	127,308	SH		SOLE		127,308	0	0
uniQure N.V.	Shares	N90064101	1,492	241,021	SH		SOLE		241,021	0	0
United Therapeutics Corporation	Common	91307C102	5,703	43,961	SH		SOLE		43,961	0	0
Unitedhealth Group Inc.	Common	91324P102	57,012	307,476	SH		SOLE		307,476	0	0
Universal Health Services, Inc.	Class B	913903100	5,869	48,076	SH		SOLE		48,076	0	0
Valeant Pharmaceuticals International, Inc.	Common	91911K102	7,439	430,000	SH		SOLE		430,000	0	0
Ventas, Inc.	Common	92276F100	12,228	175,991	SH		SOLE		175,991	0	0
Verona Pharma plc	Sponsored ADR	925050106	3,211	275,000	SH		SOLE		275,000	0	0
Vertex Pharmaceuticals Incorporated	Common	92532F100	102,845	798,053	SH		SOLE		798,053	0	0
Welltower Inc.	6.50% Preferred Perpetual	95040Q203	13,252	200,000	SH		SOLE		200,000	0	0
Welltower Inc.	Common	95040Q104	1,602	21,400	SH		SOLE		21,400	0	0
Wright Medical Group N.V.	Ordinary Shares	N96617118	5,904	214,781	SH		SOLE		214,781	0	0
Xencor, Inc.	Common	98401F105	422	20,000	SH		SOLE		20,000	0	0
Xenon Pharmaceuticals Inc.	Common	98420N105	1,103	350,000	SH		SOLE		350,000	0	0
Zafgen, Inc.	Common	98885E103	47	13,307	SH		SOLE		13,307	0	0
Zimmer Biomet Holdings, Inc.	Common	98956P102	13,135	102,300	SH		SOLE		102,300	0	0