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	66,749	1,250,920	SH		SOLE		1,250,920	0	0
AbbVie Inc.	Common	00287Y109	9,287	104,513	SH		SOLE		104,513	0	0
AC Immune SA	Shares	H00263105	462	40,919	SH		SOLE		40,919	0	0
Acadia Healthcare Company, Inc.	Common	00404A109	13,010	272,400	SH		SOLE		272,400	0	0
Accelerate Diagnostics, Inc.	Common	00430H102	3,368	150,000	SH		SOLE		150,000	0	0
Acceleron Pharma Inc.	Common	00434H108	2,226	59,654	SH		SOLE		59,654	0	0
Achillion Pharmaceuticals, Inc.	Common	00448Q201	2,766	616,000	SH		SOLE		616,000	0	0
Adaptimmune Therapeutics plc	Sponsored ADR	00653A107	7,661	935,368	SH		SOLE		935,368	0	0
Adverum Biotechnologies, Inc.	Common	00773U108	1,095	300,078	SH		SOLE		300,078	0	0
Aegerion Pharmaceuticals, Inc.	Note 2.00% 5/15/19	00767EAB8	10,303	13,000,000	PRN		SOLE		13,000,000	0	0
Affimed N.V.	Common	N01045108	3,162	1,405,324	SH		SOLE		1,405,324	0	0
Alexion Pharmaceuticals, Inc.	Common	015351109	105,344	750,905	SH		SOLE		750,905	0	0
Allergan plc	Shares	G0177J108	69,474	338,979	SH		SOLE		338,979	0	0
Allergan plc	Preferred Convertible Series A	G0177J116	3,689	5,000	SH		SOLE		5,000	0	0
Alliqua BioMedical, Inc.	Common	019621200	602	1,650,000	SH		SOLE		1,650,000	0	0
Alnylam Pharmaceuticals, Inc.	Common	02043Q107	13,507	114,966	SH		SOLE		114,966	0	0
Amarin Corporation plc	Sponsored ADR	023111206	3,347	956,300	SH		SOLE		956,300	0	0
AmerisourceBergen Corporation	Common	03073E105	23,847	288,187	SH		SOLE		288,187	0	0
Amgen Inc.	Common	031162100	115,650	620,274	SH		SOLE		620,274	0	0
Amicus Therapeutics, Inc.	Common	03152W109	4,154	275,494	SH		SOLE		275,494	0	0
Anthem, Inc.	Common	036752103	8,529	44,918	SH		SOLE		44,918	0	0
ARCA biopharma, Inc.	Common	00211Y407	892	811,227	SH		SOLE		811,227	0	0
Ardelyx, Inc.	Common	039697107	3,580	639,370	SH		SOLE		639,370	0	0
argenx SE	Sponsored ADR	04016X101	1,683	75,000	SH		SOLE		75,000	0	0
AstraZeneca PLC	Sponsored ADR	046353108	14,995	442,600	SH		SOLE		442,600	0	0
Auris Medical Holding AG	Common	H03579101	635	774,504	SH		SOLE		774,504	0	0
Avadel Pharmaceuticals plc	Sponsored ADR	05337M104	6,555	624,288	SH		SOLE		624,288	0	0
AveXis, Inc.	Common	05366U100	967	10,000	SH		SOLE		10,000	0	0
Bellicum Pharmaceuticals, Inc.	Common	079481107	693	60,000	SH		SOLE		60,000	0	0
BioCryst Pharmaceuticals, Inc.	Common	09058V103	1,694	323,255	SH		SOLE		323,255	0	0
Biogen Inc.	Common	09062X103	153,305	489,604	SH		SOLE		489,604	0	0
BioMarin Pharmaceutical Inc.	Common	09061G101	46,697	501,745	SH		SOLE		501,745	0	0
bluebird bio, Inc.	Common	09609G100	1,823	13,273	SH		SOLE		13,273	0	0
Cardinal Health, Inc.	Common	14149Y108	5,126	76,600	SH		SOLE		76,600	0	0
Cascadian Therapeutics, Inc.	Common	14740B606	1,856	453,900	SH		SOLE		453,900	0	0
Celgene Corporation	Common	151020104	202,329	1,387,525	SH		SOLE		1,387,525	0	0
Celldex Therapeutics, Inc.	Common	15117B103	303	105,800	SH		SOLE		105,800	0	0
Cellectis S.A.	Sponsored ADR	15117K103	8,827	310,250	SH		SOLE		310,250	0	0
Centene Corporation	Common	15135B101	22,272	230,158	SH		SOLE		230,158	0	0
Charles River Laboratories International, Inc.	Common	159864107	13,729	127,100	SH		SOLE		127,100	0	0
Cidara Therapeutics, Inc.	Common	171757107	2,320	286,472	SH		SOLE		286,472	0	0
Cigna Corporation	Common	125509109	18,694	100,002	SH		SOLE		100,002	0	0
Clovis Oncology, Inc.	Common	189464100	6,213	75,400	SH		SOLE		75,400	0	0
Coherus BioSciences, Inc.	Common	19249H103	1,202	90,000	SH		SOLE		90,000	0	0
Community Health Systems, Inc.	Common	203668108	1,566	203,935	SH		SOLE		203,935	0	0
CVS Health Corporation	Common	126650100	33,495	411,891	SH		SOLE		411,891	0	0
CymaBay Therapeutics, Inc.	Common	23257D103	1,692	209,962	SH		SOLE		209,962	0	0
CytomX Therapeutics, Inc.	Common	23284F105	9,632	530,092	SH		SOLE		530,092	0	0
Dermira, Inc.	Common	24983L104	10,716	396,900	SH		SOLE		396,900	0	0
DexCom, Inc.	Common	252131107	5,279	107,900	SH		SOLE		107,900	0	0
Diplomat Pharmacy, Inc.	Common	25456K101	9,562	461,712	SH		SOLE		461,712	0	0
Edwards Lifesciences Corporation	Common	28176E108	10,647	97,400	SH		SOLE		97,400	0	0
Egalet Corporation	Note 5.50% 4/1/20	28226BAB0	3,601	7,000,000	PRN		SOLE		7,000,000	0	0
Eiger BioPharmaceuticals, Inc.	Common	28249U105	341	31,028	SH		SOLE		31,028	0	0
Eli Lilly & Company	Common	532457108	33,198	388,100	SH		SOLE		388,100	0	0
Endo International plc	Shares	G30401106	7,833	914,548	SH		SOLE		914,548	0	0
Entellus Medical, Inc.	Common	29363K105	6,304	341,471	SH		SOLE		341,471	0	0
Epizyme, Inc.	Common	29428V104	8,687	456,000	SH		SOLE		456,000	0	0
Evolent Health, Inc.	Class A	30050B101	2,181	122,500	SH		SOLE		122,500	0	0
Exelixis, Inc.	Common	30161Q104	9,421	388,822	SH		SOLE		388,822	0	0
Express Scripts Holding Company	Common	30219G108	5,351	84,500	SH		SOLE		84,500	0	0
Foamix Pharmaceuticals Ltd.	Shares	M46135105	5,164	930,398	SH		SOLE		930,398	0	0
Galapagos NV	Sponsored ADR	36315X101	1,933	19,000	SH		SOLE		19,000	0	0
GenMark Diagnostics, Inc.	Common	372309104	2,838	294,749	SH		SOLE		294,749	0	0
Gilead Sciences, Inc.	Common	375558103	226,948	2,801,131	SH		SOLE		2,801,131	0	0
Glaukos Corporation	Common	377322102	2,102	63,707	SH		SOLE		63,707	0	0
GlaxoSmithKline plc	Shares	37733W105	14,575	359,000	SH		SOLE		359,000	0	0
Global Blood Therapeutics, Inc.	Common	37890U108	1,941	62,500	SH		SOLE		62,500	0	0
Global Medical REIT Inc.	Common	37954A204	659	73,400	SH		SOLE		73,400	0	0
HCA Healthcare, Inc.	Common	40412C101	7,580	95,232	SH		SOLE		95,232	0	0
HCP, Inc.	Common	40414L109	1,266	45,500	SH		SOLE		45,500	0	0
Healthcare Realty Trust Incorporated	Common	421946104	2,199	68,000	SH		SOLE		68,000	0	0
Healthcare Trust of America, Inc.	Class A	42225P501	1,371	46,000	SH		SOLE		46,000	0	0
Henry Schein, Inc.	Common	806407102	5,149	62,800	SH		SOLE		62,800	0	0
Horizon Pharma plc	Shares	G4617B105	2,066	162,900	SH		SOLE		162,900	0	0
Humana Inc.	Common	444859102	30,400	124,781	SH		SOLE		124,781	0	0
IDEXX Laboratories, Inc.	Common	45168D104	20,579	132,352	SH		SOLE		132,352	0	0
Illumina, Inc.	Common	452327109	63,085	316,691	SH		SOLE		316,691	0	0
Impax Laboratories, Inc.	Common	45256B101	2,524	124,335	SH		SOLE		124,335	0	0
Incyte Corporation	Common	45337C102	80,933	693,275	SH		SOLE		693,275	0	0
Innoviva, Inc.	Common	45781M101	3,513	248,803	SH		SOLE		248,803	0	0
Intercept Pharmaceuticals, Inc.	Common	45845P108	7,151	123,200	SH		SOLE		123,200	0	0
Intercept Pharmaceuticals, Inc.	Note 3.250% 7/1/23	45845PAA6	5,330	6,900,000	PRN		SOLE		6,900,000	0	0
Jazz Pharmaceuticals plc	Shares	G50871105	40,060	273,916	SH		SOLE		273,916	0	0
Johnson & Johnson	Common	478160104	103,869	798,932	SH		SOLE		798,932	0	0
Juno Therapeutics, Inc.	Common	48205A109	2,553	56,900	SH		SOLE		56,900	0	0
Karyopharm Therapeutics Inc.	Common	48576U106	8,308	756,679	SH		SOLE		756,679	0	0
LTC Properties, Inc.	Common	502175102	6,399	136,212	SH		SOLE		136,212	0	0
Mallinckrodt plc	Shares	G5785G107	2,313	61,900	SH		SOLE		61,900	0	0
McKesson Corporation	Common	58155Q103	21,936	142,800	SH		SOLE		142,800	0	0
Medical Properties Trust, Inc.	Common	58463J304	13,231	1,007,717	SH		SOLE		1,007,717	0	0
Medtronic plc	Shares	G5960L103	45,132	580,326	SH		SOLE		580,326	0	0
Merck & Co., Inc.	Common	58933Y105	94,335	1,473,295	SH		SOLE		1,473,295	0	0
Merus B.V.	Common	N5749R100	9,521	479,150	SH		SOLE		479,150	0	0
Momenta Pharmaceuticals, Inc.	Common	60877T100	2,829	152,900	SH		SOLE		152,900	0	0
Mylan N.V.	Shares	N59465109	50,290	1,603,112	SH		SOLE		1,603,112	0	0
Myovant Sciences Ltd.	Common	G637AM102	6,188	400,000	SH		SOLE		400,000	0	0
NanoString Technologies, Inc.	Common	63009R109	1,834	113,500	SH		SOLE		113,500	0	0
Natera, Inc.	Common	632307104	6,261	485,758	SH		SOLE		485,758	0	0
Neurocrine Biosciences, Inc.	Common	64125C109	34,468	562,467	SH		SOLE		562,467	0	0
Nevro Corp.	Common	64157F103	17,687	194,621	SH		SOLE		194,621	0	0
New Senior Investment Group Inc.	Common	648691103	5,197	567,997	SH		SOLE		567,997	0	0
Novartis AG	Sponsored ADR	66987V109	34,225	398,662	SH		SOLE		398,662	0	0
Novavax, Inc.	Common	670002104	651	571,000	SH		SOLE		571,000	0	0
Novo Nordisk A/S	Sponsored ADR	670100205	3,544	73,600	SH		SOLE		73,600	0	0
NuVasive, Inc.	Common	670704105	8,961	161,576	SH		SOLE		161,576	0	0
Omega Healthcare Investors, Inc.	Common	681936100	14,634	458,616	SH		SOLE		458,616	0	0
Ovid Therapeutics Inc.	Common	690469101	1,393	162,537	SH		SOLE		162,537	0	0
Perrigo Company plc	Shares	G97822103	3,157	37,300	SH		SOLE		37,300	0	0
Pfizer Inc.	Common	717081103	28,920	810,087	SH		SOLE		810,087	0	0
Physicians Realty Trust	Common	71943U104	9,409	530,672	SH		SOLE		530,672	0	0
Pieris Pharmaceuticals, Inc.	Common	720795103	16,344	2,837,573	SH		SOLE		2,837,573	0	0
PRA Health Sciences, Inc.	Common	69354M108	7,769	102,000	SH		SOLE		102,000	0	0
Protagonist Therapeutics, Inc.	Common	74366E102	138	7,822	SH		SOLE		7,822	0	0
Puma Biotechnology, Inc.	Common	74587V107	12,633	105,495	SH		SOLE		105,495	0	0
Quorum Health Corporation	Shares	74909E106	123	23,725	SH		SOLE		23,725	0	0
Quotient Limited	Common	G73268107	586	118,861	SH		SOLE		118,861	0	0
Ra Pharmaceuticals, Inc.	Common	74933V108	5,779	395,818	SH		SOLE		395,818	0	0
Regeneron Pharmaceuticals, Inc.	Common	75886F107	76,241	170,516	SH		SOLE		170,516	0	0
The RMR Group Inc.	Class A	74967R106	382	7,441	SH		SOLE		7,441	0	0
Sabra Health Care REIT, Inc.	Common	78573L106	12,089	550,990	SH		SOLE		550,990	0	0
Sanofi	Sponsored ADR	80105N105	8,957	179,900	SH		SOLE		179,900	0	0
Sarepta Therapeutics, Inc.	Common	803607100	24,340	536,600	SH		SOLE		536,600	0	0
Seattle Genetics, Inc.	Common	812578102	12,172	223,700	SH		SOLE		223,700	0	0
Senior Housing Properties Trust	Shares	81721M109	12,640	646,554	SH		SOLE		646,554	0	0
Shire plc	Sponsored ADR	82481R106	38,609	252,113	SH		SOLE		252,113	0	0
Spark Therapeutics, Inc.	Common	84652J103	2,167	24,300	SH		SOLE		24,300	0	0
SPDR S&P Biotech ETF	S&P Biotech ETF	78464A870	19,605	226,460	SH		SOLE		226,460	0	0
Stryker Corporation	Common	863667101	4,474	31,500	SH		SOLE		31,500	0	0
Syndax Pharmaceuticals, Inc.	Common	87164F105	2,340	200,000	SH		SOLE		200,000	0	0
Tenet Healthcare Corporation	Common	88033G407	2,703	164,500	SH		SOLE		164,500	0	0
TESARO, Inc.	Common	881569107	7,436	57,595	SH		SOLE		57,595	0	0
Tetraphase Pharmaceuticals, Inc.	Common	88165N105	5,878	859,322	SH		SOLE		859,322	0	0
Teva Pharmaceutical Industries Ltd.	Sponsored ADR	881624209	30,915	1,756,558	SH		SOLE		1,756,558	0	0
Thermo Fisher Scientific Inc.	Common	883556102	41,448	219,072	SH		SOLE		219,072	0	0
Trillium Therapeutics Inc.	Common	89620X506	2,575	500,000	SH		SOLE		500,000	0	0
Ultragenyx Pharmaceutical Inc.	Common	90400D108	7,912	148,558	SH		SOLE		148,558	0	0
uniQure N.V.	Shares	N90064101	2,314	241,021	SH		SOLE		241,021	0	0
United Therapeutics Corporation	Common	91307C102	5,152	43,961	SH		SOLE		43,961	0	0
UnitedHealth Group Inc.	Common	91324P102	54,021	275,826	SH		SOLE		275,826	0	0
Universal Health Services, Inc.	Class B	913903100	5,334	48,076	SH		SOLE		48,076	0	0
Valeant Pharmaceuticals International, Inc.	Common	91911K102	6,090	425,000	SH		SOLE		425,000	0	0
Ventas, Inc.	Common	92276F100	11,462	175,991	SH		SOLE		175,991	0	0
Verona Pharma plc	Sponsored ADR	925050106	4,221	275,000	SH		SOLE		275,000	0	0
Vertex Pharmaceuticals Incorporated	Common	92532F100	111,160	731,123	SH		SOLE		731,123	0	0
Welltower Inc.	6.50% Preferred Perpetual	95040Q203	12,686	200,000	SH		SOLE		200,000	0	0
Welltower Inc.	Common	95040Q104	1,504	21,400	SH		SOLE		21,400	0	0
Wright Medical Group N.V.	Ordinary Shares	N96617118	6,902	266,781	SH		SOLE		266,781	0	0
Xencor, Inc.	Common	98401F105	458	20,000	SH		SOLE		20,000	0	0
Xenon Pharmaceuticals Inc.	Common	98420N105	1,033	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	7,939	67,800	SH		SOLE		67,800	0	0