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
Estimated average burden
hours per response:		23.8

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	42,399	504,148	SH		SOLE		504,148	0	0
AbbVie Inc.	Common	00287Y109	24,239	333,316	SH		SOLE		333,316	0	0
ABIOMED, Inc.	Common	003654100	8,522	32,716	SH		SOLE		32,716	0	0
AC Immune SA	Shares	H00263105	954	171,813	SH		SOLE		171,813	0	0
Acadia Healthcare Co., Inc.	Common	00404A109	6,052	173,155	SH		SOLE		173,155	0	0
ACADIA Pharmaceuticals Inc.	Common	004225108	4,281	160,147	SH		SOLE		160,147	0	0
Acceleron Pharma Inc.	Common	00434H108	7,739	188,388	SH		SOLE		188,388	0	0
Adaptimmune Therapeutics plc	Sponsored ADR	00653A107	919	228,496	SH		SOLE		228,496	0	0
Aerie Pharmaceuticals, Inc.	Common	00771V108	1,971	66,688	SH		SOLE		66,688	0	0
Aerpio Pharmaceuticals, Inc.	Common	00810B105	673	740,000	SH		SOLE		740,000	0	0
Affimed N.V.	Common	N01045108	729	254,000	SH		SOLE		254,000	0	0
Agilent Technologies, Inc.	Common	00846U101	2,509	33,600	SH		SOLE		33,600	0	0
Agios Pharmaceuticals, Inc.	Common	00847X104	7,250	145,342	SH		SOLE		145,342	0	0
Albireo Pharma, Inc.	Common	01345P106	3,390	105,154	SH		SOLE		105,154	0	0
Alcon Inc.	Ordinary Shares	H01301128	3,436	55,369	SH		SOLE		55,369	0	0
Alexion Pharmaceuticals, Inc.	Common	015351109	52,394	400,014	SH		SOLE		400,014	0	0
Align Technology, Inc.	Common	016255101	7,740	28,278	SH		SOLE		28,278	0	0
Alkermes plc	Shares	G01767105	4,464	198,048	SH		SOLE		198,048	0	0
Allakos Inc.	Common	01671P100	1,058	24,414	SH		SOLE		24,414	0	0
Allergan plc	Shares	G0177J108	24,157	144,281	SH		SOLE		144,281	0	0
Alnylam Pharmaceuticals, Inc.	Common	02043Q107	11,709	161,372	SH		SOLE		161,372	0	0
Amarin Corporation plc	Sponsored ADR	023111206	10,728	553,295	SH		SOLE		553,295	0	0
AmerisourceBergen Corp.	Common	03073E105	11,960	140,273	SH		SOLE		140,273	0	0
Amgen Inc.	Common	031162100	134,461	729,658	SH		SOLE		729,658	0	0
Amicus Therapeutics, Inc.	Common	03152W109	3,926	314,597	SH		SOLE		314,597	0	0
AnaptysBio, Inc.	Common	032724106	4,220	74,798	SH		SOLE		74,798	0	0
Anthem, Inc.	Common	036752103	29,196	103,456	SH		SOLE		103,456	0	0
ARCA biopharma, Inc.	Common	00211Y506	264	36,068	SH		SOLE		36,068	0	0
Ardelyx, Inc.	Common	039697107	1,720	639,370	SH		SOLE		639,370	0	0
Arena Pharmaceuticals, Inc.	Common	040047607	1,642	28,002	SH		SOLE		28,002	0	0
argenx SE	Sponsored ADR	04016X101	4,018	28,381	SH		SOLE		28,381	0	0
ArQule, Inc.	Common	04269E107	1,675	152,110	SH		SOLE		152,110	0	0
Array BioPharma Inc.	Common	04269X105	15,005	323,883	SH		SOLE		323,883	0	0
Arrowhead Pharmaceuticals, Inc.	Common	04280A100	814	30,700	SH		SOLE		30,700	0	0
Ascendis Pharma A/S	Sponsored ADR	04351P101	8,480	73,647	SH		SOLE		73,647	0	0
AstraZeneca PLC	Sponsored ADR	046353108	13,829	334,998	SH		SOLE		334,998	0	0
Atreca, Inc.	Class A Common	04965G109	3,297	175,000	SH		SOLE		175,000	0	0
Audentes Therapeutics, Inc.	Common	05070R104	1,990	52,574	SH		SOLE		52,574	0	0
Avadel Pharmaceuticals plc	Sponsored ADR	05337M104	2,354	814,588	SH		SOLE		814,588	0	0
Bausch Health Co. Inc.	Common	071734107	4,257	168,812	SH		SOLE		168,812	0	0
Baxter International Inc.	Common	071813109	14,472	176,698	SH		SOLE		176,698	0	0
Becton, Dickinson and Co.	Common	075887109	14,727	58,438	SH		SOLE		58,438	0	0
BeiGene, Ltd.	Sponsored ADR	07725L102	11,761	94,889	SH		SOLE		94,889	0	0
Bellicum Pharmaceuticals, Inc.	Common	079481107	102	60,000	SH		SOLE		60,000	0	0
Bio-Techne Corporation	Common	09073M104	4,524	21,701	SH		SOLE		21,701	0	0
Biogen Inc.	Common	09062X103	52,548	224,690	SH		SOLE		224,690	0	0
BioMarin Pharmaceutical Inc.	Common	09061G101	21,050	245,763	SH		SOLE		245,763	0	0
bluebird bio, Inc.	Common	09609G100	12,964	101,918	SH		SOLE		101,918	0	0
Blueprint Medicines Corporation	Common	09627Y109	8,959	94,976	SH		SOLE		94,976	0	0
Boston Scientific Corporation	Common	101137107	27,174	632,250	SH		SOLE		632,250	0	0
Bristol-Myers Squibb Company	Common	110122108	33,470	738,044	SH		SOLE		738,044	0	0
Cardinal Health, Inc.	Common	14149Y108	297	6,300	SH		SOLE		6,300	0	0
Celgene Corp.	Common	151020104	136,230	1,473,710	SH		SOLE		1,473,710	0	0
Celldex Therapeutics, Inc.	Common	15117B202	19	7,053	SH		SOLE		7,053	0	0
Cellectis SA	Sponsored ADR	15117K103	1,718	110,147	SH		SOLE		110,147	0	0
Charles River Laboratories International, Inc.	Common	159864107	2,010	14,167	SH		SOLE		14,167	0	0
Chimerix, Inc.	Common	16934W106	494	114,333	SH		SOLE		114,333	0	0
Cidara Therapeutics, Inc.	Common	171757107	267	158,784	SH		SOLE		158,784	0	0
Cigna Corporation	Common	125523100	18,395	116,756	SH		SOLE		116,756	0	0
Clearside Biomedical, Inc.	Common	185063104	161	165,330	SH		SOLE		165,330	0	0
Clovis Oncology, Inc.	Common	189464100	561	37,700	SH		SOLE		37,700	0	0
Coherus Biosciences, Inc.	Common	19249H103	6,440	291,419	SH		SOLE		291,419	0	0
Community Health Systems, Inc.	Common	203668108	545	203,935	SH		SOLE		203,935	0	0
Concert Pharmaceuticals, Inc.	Common	206022105	1,330	110,853	SH		SOLE		110,853	0	0
CRISPR Therapeutics AG	Namen AKT	H17182108	8,400	178,348	SH		SOLE		178,348	0	0
CVS Health Corp.	Common	126650100	31,354	575,401	SH		SOLE		575,401	0	0
CymaBay Therapeutics, Inc.	Common	23257D103	631	88,102	SH		SOLE		88,102	0	0
Danaher Corp.	Common	235851102	22,714	158,931	SH		SOLE		158,931	0	0
DENTSPLY SIRONA Inc.	Common	24906P109	7,407	126,921	SH		SOLE		126,921	0	0
Diplomat Pharmacy, Inc.	Common	25456K101	1,308	214,845	SH		SOLE		214,845	0	0
Editas Medicine, Inc.	Common	28106W103	1,113	44,989	SH		SOLE		44,989	0	0
Edwards Lifesciences Corp.	Common	28176E108	12,889	69,769	SH		SOLE		69,769	0	0
Eli Lilly and Co.	Common	532457108	28,052	253,199	SH		SOLE		253,199	0	0
Endo International plc	Shares	G30401106	2,190	531,570	SH		SOLE		531,570	0	0
Epizyme, Inc.	Common	29428V104	5,015	399,604	SH		SOLE		399,604	0	0
Esperion Therapeutics, Inc.	Common	29664W105	8,588	184,607	SH		SOLE		184,607	0	0
Evolent Health, Inc.	Common	30050B101	1,385	174,270	SH		SOLE		174,270	0	0
Exelixis, Inc.	Common	30161Q104	14,499	678,467	SH		SOLE		678,467	0	0
Fate Therapeutics, Inc.	Common	31189P102	495	24,379	SH		SOLE		24,379	0	0
FibroGen, Inc.	Common	31572Q808	11,038	244,320	SH		SOLE		244,320	0	0
Foamix Pharmaceuticals Ltd	Shares	M46135105	716	300,781	SH		SOLE		300,781	0	0
Galapagos NV	Sponsored ADR	36315X101	6,256	48,525	SH		SOLE		48,525	0	0
Genomic Health, Inc.	Common	37244C101	1,543	26,531	SH		SOLE		26,531	0	0
Gilead Sciences, Inc.	Common	375558103	124,048	1,836,112	SH		SOLE		1,836,112	0	0
GlaxoSmithKline PLC	Shares	37733W105	8,752	218,700	SH		SOLE		218,700	0	0
Global Blood Therapeutics, Inc.	Common	37890U108	3,551	67,516	SH		SOLE		67,516	0	0
Global Medical REIT Inc.	Common	37954A204	771	73,400	SH		SOLE		73,400	0	0
GW Pharmaceuticals PLC	ADS	36197T103	11,119	64,499	SH		SOLE		64,499	0	0
HCA Healthcare, Inc.	Common	40412C101	12,107	89,569	SH		SOLE		89,569	0	0
HCP, Inc.	Common	40414L109	1,455	45,500	SH		SOLE		45,500	0	0
Healthcare Realty Trust Inc.	Common	421946104	2,130	68,000	SH		SOLE		68,000	0	0
Healthcare Trust of America, Inc.	Common	42225P501	1,262	46,000	SH		SOLE		46,000	0	0
HealthEquity, Inc.	Common	42226A107	2,080	31,810	SH		SOLE		31,810	0	0
Hologic, Inc.	Common	436440101	2,051	42,701	SH		SOLE		42,701	0	0
Horizon Therapeutics plc	Shares	G46188101	3,789	157,473	SH		SOLE		157,473	0	0
Humana Inc.	Common	444859102	12,767	48,122	SH		SOLE		48,122	0	0
IDEXX Laboratories, Inc.	Common	45168D104	17,003	61,754	SH		SOLE		61,754	0	0
Illumina, Inc.	Common	452327109	73,067	198,471	SH		SOLE		198,471	0	0
ImmunoGen, Inc.	Common	45253H101	365	168,190	SH		SOLE		168,190	0	0
Immunomedics, Inc.	Common	452907108	5,400	389,313	SH		SOLE		389,313	0	0
Incyte Corp.	Common	45337C102	43,409	510,933	SH		SOLE		510,933	0	0
Inogen, Inc.	Common	45780L104	935	14,000	SH		SOLE		14,000	0	0
Intellia Therapeutics, Inc.	Common	45826J105	2,460	150,290	SH		SOLE		150,290	0	0
Intercept Pharmaceuticals, Inc.	Common	45845P108	4,285	53,857	SH		SOLE		53,857	0	0
Intra-Cellular Therapies, Inc.	Common	46116X101	715	55,096	SH		SOLE		55,096	0	0
Intuitive Surgical, Inc.	Common	46120E602	29,204	55,675	SH		SOLE		55,675	0	0
Ionis Pharmaceuticals, Inc.	Common	462222100	8,201	127,598	SH		SOLE		127,598	0	0
Iovance Biotherapeutics, Inc.	Common	462260100	4,881	199,073	SH		SOLE		199,073	0	0
IQVIA Holdings Inc.	Common	46266C105	2,637	16,391	SH		SOLE		16,391	0	0
Jazz Pharmaceuticals plc	Shares	G50871105	9,619	67,471	SH		SOLE		67,471	0	0
Johnson & Johnson	Common	478160104	123,960	890,004	SH		SOLE		890,004	0	0
Koninklijke Philips N.V.	NY Reg Sh	500472303	3,722	85,400	SH		SOLE		85,400	0	0
Laboratory Corporation of America Holdings	Sponsored ADR	50540R409	5,433	31,424	SH		SOLE		31,424	0	0
Ligand Pharmaceuticals Inc.	Common	53220K504	5,029	44,055	SH		SOLE		44,055	0	0
LivaNova PLC	Shares	G5509L101	3,287	45,681	SH		SOLE		45,681	0	0
LTC Properties, Inc.	Common	502175102	6,640	145,421	SH		SOLE		145,421	0	0
Madrigal Pharmaceuticals, Inc.	Common	558868105	1,398	13,340	SH		SOLE		13,340	0	0
Mallinckrodt plc	Sponsored ADR	G5785G107	303	32,980	SH		SOLE		32,980	0	0
Masimo Corp.	Common	574795100	4,127	27,732	SH		SOLE		27,732	0	0
McKesson Corp.	Common	58155Q103	12,860	95,691	SH		SOLE		95,691	0	0
Medical Properties Trust, Inc.	Common	58463J304	3,262	187,063	SH		SOLE		187,063	0	0
The Medicines Company	Common	584688105	10,142	278,092	SH		SOLE		278,092	0	0
Medtronic plc	Shares	G5960L103	46,751	480,035	SH		SOLE		480,035	0	0
Merck & Co., Inc.	Common	58933Y105	84,998	1,013,695	SH		SOLE		1,013,695	0	0
Merus N.V.	Common	N5749R100	3,591	245,114	SH		SOLE		245,114	0	0
Milestone Pharmaceuticals, Inc.	Common	59935V107	1,358	50,000	SH		SOLE		50,000	0	0
Mirati Therapeutics, Inc.	Common	60468T105	1,400	13,590	SH		SOLE		13,590	0	0
Molecular Templates, Inc.	Common	608550109	1,203	144,110	SH		SOLE		144,110	0	0
MorphoSys AG	Sponsored ADS	617760202	957	39,643	SH		SOLE		39,643	0	0
Mylan N.V.	Shares	N59465109	17,958	943,152	SH		SOLE		943,152	0	0
MyoKardia, Inc.	Common	62857M105	1,935	38,600	SH		SOLE		38,600	0	0
Myriad Genetics, Inc.	Common	62855J104	571	20,549	SH		SOLE		20,549	0	0
Natus Medical Inc.	Common	639050103	1,573	61,219	SH		SOLE		61,219	0	0
Nektar Therapeutics	Common	640268108	10,093	283,679	SH		SOLE		283,679	0	0
Neurocrine Biosciences, Inc.	Common	64125C109	17,484	207,078	SH		SOLE		207,078	0	0
New Senior Investment Group Inc.	Common	648691103	1,062	158,047	SH		SOLE		158,047	0	0
Novartis AG	Sponsored ADR	66987V109	25,297	277,047	SH		SOLE		277,047	0	0
Novavax, Inc.	Common	670002401	167	28,550	SH		SOLE		28,550	0	0
Novo Nordisk A/S	Sponsored ADR	670100205	12,301	241,000	SH		SOLE		241,000	0	0
Novocure Ltd.	Ordinary Shares	G6674U108	3,419	54,074	SH		SOLE		54,074	0	0
Omega Healthcare Investors, Inc.	Common	681936100	10,024	272,766	SH		SOLE		272,766	0	0
Ovid Therapeutics Inc.	Sponsored ADR	690469101	690	372,733	SH		SOLE		372,733	0	0
Perrigo Company plc	Shares	G97822103	1,034	21,718	SH		SOLE		21,718	0	0
Pfizer Inc.	Common	717081103	89,597	2,068,265	SH		SOLE		2,068,265	0	0
Physicians Realty Trust	Common	71943U104	5,300	303,908	SH		SOLE		303,908	0	0
Pieris Pharmaceuticals, Inc.	Common	720795103	6,812	1,449,269	SH		SOLE		1,449,269	0	0
Portola Pharmaceuticals, Inc.	Sponsored ADR	737010108	3,132	115,448	SH		SOLE		115,448	0	0
PRA Health Sciences, Inc.	Common	69354M108	15,170	153,003	SH		SOLE		153,003	0	0
Protagonist Therapeutics, Inc.	Common	74366E102	1,469	121,341	SH		SOLE		121,341	0	0
PTC Therapeutics, Inc.	Common	69366J200	6,282	139,608	SH		SOLE		139,608	0	0
Puma Biotechnology, Inc.	Common	74587V107	907	71,340	SH		SOLE		71,340	0	0
Quest Diagnostics Inc.	Common	74834L100	2,648	26,012	SH		SOLE		26,012	0	0
Quorum Health Corp.	Common	74909E106	33	23,725	SH		SOLE		23,725	0	0
Ra Pharmaceuticals, Inc.	Common	74933V108	577	19,190	SH		SOLE		19,190	0	0
Regeneron Pharmaceuticals, Inc.	Common	75886F107	52,261	166,968	SH		SOLE		166,968	0	0
REGENXBIO Inc.	Common	75901B107	658	12,801	SH		SOLE		12,801	0	0
ResMed Inc.	Common	761152107	6,359	52,110	SH		SOLE		52,110	0	0
Rhythm Pharmaceuticals, Inc.	Common	76243J105	548	24,890	SH		SOLE		24,890	0	0
Sabra Health Care REIT, Inc.	Common	78573L106	9,180	466,247	SH		SOLE		466,247	0	0
Sage Therapeutics, Inc.	Common	78667J108	15,406	84,145	SH		SOLE		84,145	0	0
Sangamo Therapeutics, Inc.	Common	800677106	1,301	120,768	SH		SOLE		120,768	0	0
Sanofi	Sponsored ADR	80105N105	3,719	85,941	SH		SOLE		85,941	0	0
Sarepta Therapeutics, Inc.	Common	803607100	22,465	147,847	SH		SOLE		147,847	0	0
Seattle Genetics, Inc.	Common	812578102	20,066	289,925	SH		SOLE		289,925	0	0
Senior Housing Properties Trust	Common	81721M109	2,958	357,720	SH		SOLE		357,720	0	0
Smith & Nephew plc	Shares	83175M205	6,998	160,734	SH		SOLE		160,734	0	0
SPDR S&P Biotech ETF	S&P Biotech ETF	78464A870	7,808	89,022	SH		SOLE		89,022	0	0
Spectrum Pharmaceuticals, Inc.	Common	84763A108	987	114,670	SH		SOLE		114,670	0	0
STERIS plc	Shares	G8473T100	4,315	28,981	SH		SOLE		28,981	0	0
Stryker Corporation	Common	863667101	21,164	102,950	SH		SOLE		102,950	0	0
Sutro Biopharma, Inc.	Common	869367102	7,298	641,268	SH		SOLE		641,268	0	0
Syneos Health, Inc.	Class A	87166B102	1,483	29,027	SH		SOLE		29,027	0	0
Takeda Pharmaceutical SP ADR	Sponsored ADS	874060205	3,153	178,128	SH		SOLE		178,128	0	0
Teleflex Inc.	Common	879369106	2,112	6,379	SH		SOLE		6,379	0	0
Tenet Healthcare Corp.	Common	88033G407	3,774	182,671	SH		SOLE		182,671	0	0
Tetraphase Pharmaceuticals, Inc.	Common	88165N105	413	859,322	SH		SOLE		859,322	0	0
Teva Pharmaceutical Industries Ltd.	Sponsored ADR	881624209	7,253	785,851	SH		SOLE		785,851	0	0
TherapeuticsMD, Inc.	Common	88338N107	1,409	541,815	SH		SOLE		541,815	0	0
Thermo Fisher Scientific Inc.	Common	883556102	39,999	136,198	SH		SOLE		136,198	0	0
Trillium Therapeutics Inc.	Common	89620X506	146	446,099	SH		SOLE		446,099	0	0
Ultragenyx Pharmaceutical Inc.	Common	90400D108	2,443	38,480	SH		SOLE		38,480	0	0
uniQure N.V.	Shares	N90064101	1,544	19,751	SH		SOLE		19,751	0	0
United Therapeutics Corporation	Class B	91307C102	4,223	54,094	SH		SOLE		54,094	0	0
Unitedhealth Group Inc.	Common	91324P102	79,092	324,133	SH		SOLE		324,133	0	0
Varian Medical Systems, Inc.	Common	92220P105	3,271	24,027	SH		SOLE		24,027	0	0
Ventas, Inc.	Common	92276F100	6,732	98,496	SH		SOLE		98,496	0	0
Verona Pharma plc	Sponsored ADR	925050106	1,471	275,000	SH		SOLE		275,000	0	0
Vertex Pharmaceuticals Inc.	Common	92532F100	89,807	489,734	SH		SOLE		489,734	0	0
Viking Therapeutics, Inc.	Common	92686J106	946	114,016	SH		SOLE		114,016	0	0
WaVe Life Sciences Ltd.	Shares	Y95308105	1,460	55,955	SH		SOLE		55,955	0	0
WellCare Health Plans, Inc.	Common	94946T106	5,099	17,886	SH		SOLE		17,886	0	0
Welltower Inc.	Common	95040Q104	12,419	152,322	SH		SOLE		152,322	0	0
Wright Medical Group N.V.	Ordinary Shares	N96617118	2,043	68,506	SH		SOLE		68,506	0	0
Xencor, Inc.	Common	98401F105	2,963	72,382	SH		SOLE		72,382	0	0
Zimmer Biomet Holdings, Inc.	Common	98956P102	9,378	79,654	SH		SOLE		79,654	0	0
Zoetis Inc.	Class A	98978V103	28,212	248,584	SH		SOLE		248,584	0	0
Zogenix, Inc.	Common	98978L204	5,932	124,148	SH		SOLE		124,148	0	0