# EDGAR Filing Document

**Accession Number:** 0002005245
**File Stem:** 0002005245-26-000003
**Filing Date:** 2026-2
**Character Count:** 15819
**Document Hash:** b4cf11dee4d8d7e35e85d5b53dfb9938
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002005245-26-000003.hdr.sgml**: 20260213

**ACCESSION NUMBER**: 0002005245-26-000003

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260213

**DATE AS OF CHANGE**: 20260213

**EFFECTIVENESS DATE**: 20260213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Siren, L.L.C.
- **CENTRAL INDEX KEY:** 0002005245

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-24464
- **FILM NUMBER:** 26629583

**BUSINESS ADDRESS:**
- **STREET 1:** 10 QUAIL ROAD
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06831
- **BUSINESS PHONE:** 212-371-1717

**MAIL ADDRESS:**
- **STREET 1:** THE INVUS GROUP, LLC
- **STREET 2:** 750 LEXINGTON AVENUE, 30TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Siren L.L.C.<br>**Address:** The Invus Group Llc<br>750 Lexington Avenue 30th Floor<br>New York, NY 10022

**Form 13F File Number:** 028-24464

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Raymond Debbane<br>**Title:** President<br>**Phone:** 212-371-1717

**Signature, Place, and Date of Signing:**

/s/ Raymond Debbane  New York, NY  02-13-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 2

**Form 13F Information Table Entry Total:** 115

**Form 13F Information Table Value Total:** $3352424599

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name                         | Form 13F File Number   |
|:---|:---|:---|
|  | Invus Financial Advisors LLC | 028-19938              |
|  | Invus Group LLC              | 028-24462              |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Adobe Inc | COM | 00724F101 |  | 4217729 | 12051 | SH |  | DFND | 2 | 12051 | 0 | 0 |
| Agenus Inc | COM NEW | 00847G804 |  | 3341745 | 1064250 | SH |  | DFND | 2 | 1064250 | 0 | 0 |
| Alphabet Inc | CAP STK CL A | 02079K305 |  | 6480039 | 20703 | SH |  | DFND | 2 | 20703 | 0 | 0 |
| Alumis Inc | COM | 022307102 |  | 4880000 | 500000 | SH |  | DFND | 2 | 500000 | 0 | 0 |
| Amazon.com Inc | COM | 023135106 |  | 11887230 | 51500 | SH |  | DFND | 2 | 51500 | 0 | 0 |
| Apellis Pharmaceuticals Inc | COM | 03753U106 |  | 64769308 | 2578396 | SH |  | DFND | 2 | 2578396 | 0 | 0 |
| Arcus Biosciences Inc | COM | 03969F109 |  | 33242850 | 1395000 | SH |  | DFND | 2 | 1395000 | 0 | 0 |
| Arcus Biosciences Inc | COM | 03969F109 |  | 38415795 | 1612077 | SH |  | DFND | 1 | 1612077 | 0 | 0 |
| Arm Holdings PLC | SPONSORED ADS | 042068205 |  | 2350165 | 21500 | SH |  | DFND | 2 | 21500 | 0 | 0 |
| Arrowhead Pharmaceuticals Inc | COM | 04280A100 |  | 99616602 | 1500476 | SH |  | DFND | 2 | 1500476 | 0 | 0 |
| Ascendis Pharma A/S | SPONSORED ADR | 04351P101 |  | 50295213 | 235862 | SH |  | DFND | 2 | 235862 | 0 | 0 |
| Benitec Biopharma Inc | COM NEW | 08205P209 |  | 10439250 | 775000 | SH |  | DFND | 2 | 775000 | 0 | 0 |
| BeOne Medicines AG | SPONSORED ADS | 07725L102 |  | 151905000 | 500000 | SH |  | DFND | 2 | 500000 | 0 | 0 |
| Bicara Therapeutics Inc | COM | 055477103 |  | 87801588 | 5216969 | SH |  | DFND | 2 | 5216969 | 0 | 0 |
| Bicycle Therapeutics PLC | SPONSORED ADS | 088786108 |  | 14250284 | 2012752 | SH |  | DFND | 2 | 2012752 | 0 | 0 |
| BillionToOne Inc | CL A | 090168105 |  | 6860893 | 83833 | SH |  | DFND | 2 | 83833 | 0 | 0 |
| Black Diamond Therapeutics Inc | COM | 09203E105 |  | 2543036 | 1046517 | SH |  | DFND | 2 | 1046517 | 0 | 0 |
| Broadcom Inc | COM | 11135F101 |  | 2422700 | 7000 | SH |  | DFND | 2 | 7000 | 0 | 0 |
| Caribou Biosciences Inc | COM | 142038108 |  | 167502 | 105347 | SH |  | DFND | 2 | 105347 | 0 | 0 |
| Cellebrite DI Ltd | ORDINARY SHARES | M2197Q107 |  | 2705550 | 150000 | SH |  | DFND | 2 | 150000 | 0 | 0 |
| Centessa Pharmaceuticals PLC | SPONSORED ADS | 152309100 |  | 100728200 | 4027517 | SH |  | DFND | 2 | 4027517 | 0 | 0 |
| Cogent Biosciences Inc | COM | 19240Q201 |  | 57871990 | 1629279 | SH |  | DFND | 2 | 1629279 | 0 | 0 |
| Compass Pathways PLC | SPONSORED ADS | 20451W101 |  | 6900000 | 1000000 | SH |  | DFND | 2 | 1000000 | 0 | 0 |
| CoreWeave Inc | COM CL A | 21873S108 |  | 1969275 | 27500 | SH |  | DFND | 2 | 27500 | 0 | 0 |
| Crinetics Pharmaceuticals Inc | COM | 22663K107 |  | 70180456 | 1507636 | SH |  | DFND | 2 | 1507636 | 0 | 0 |
| CrowdStrike Holdings Inc | CL A | 22788C105 |  | 7734540 | 16500 | SH |  | DFND | 2 | 16500 | 0 | 0 |
| Cullinan Therapeutics Inc | COM | 230031106 |  | 12351794 | 1193410 | SH |  | DFND | 2 | 1193410 | 0 | 0 |
| Cyclerion Therapeutics Inc | COM | 23255M204 |  | 146816 | 115603 | SH |  | DFND | 2 | 115603 | 0 | 0 |
| Datadog Inc | CL A COM | 23804L103 |  | 4953436 | 36425 | SH |  | DFND | 2 | 36425 | 0 | 0 |
| Dbv Technologies SA | SPONSORED ADS | 23306J309 |  | 35605630 | 1857362 | SH |  | DFND | 2 | 1857362 | 0 | 0 |
| Denali Therapeutics Inc | COM | 24823R105 |  | 23056430 | 1396513 | SH |  | DFND | 2 | 1396513 | 0 | 0 |
| Disc Medicine Inc | COM | 254604101 |  | 78488923 | 988401 | SH |  | DFND | 2 | 988401 | 0 | 0 |
| Dynatrace Inc | COM NEW | 268150109 |  | 4994025 | 115229 | SH |  | DFND | 2 | 115229 | 0 | 0 |
| Dyne Therapeutics Inc | COM | 26818M108 |  | 68517526 | 3502941 | SH |  | DFND | 2 | 3502941 | 0 | 0 |
| Edgewise Therapeutics Inc | COM | 28036F105 |  | 112411702 | 4529990 | SH |  | DFND | 2 | 4529990 | 0 | 0 |
| enGene Holdings Inc | COM | 29286M105 |  | 30126464 | 3336264 | SH |  | DFND | 2 | 3336264 | 0 | 0 |
| Erasca Inc | COM | 29479A108 |  | 32576966 | 8757249 | SH |  | DFND | 2 | 8757249 | 0 | 0 |
| Figma Inc | CLASS A COM STK | 316841105 |  | 934250 | 25000 | SH |  | DFND | 2 | 25000 | 0 | 0 |
| Foghorn Therapeutics Inc | COM | 344174107 |  | 3891888 | 720720 | SH |  | DFND | 2 | 720720 | 0 | 0 |
| Fulcrum Therapeutics Inc | COM | 359616109 |  | 22054500 | 1950000 | SH |  | DFND | 2 | 1950000 | 0 | 0 |
| Generation Bio Inc | COM NEW | 37148K209 |  | 1144060 | 201419 | SH |  | DFND | 2 | 201419 | 0 | 0 |
| GitLab Inc | CLASS A COM | 37637K108 |  | 3715470 | 99000 | SH |  | DFND | 2 | 99000 | 0 | 0 |
| Gossamer Bio Inc | COM | 38341P102 |  | 16147801 | 5208968 | SH |  | DFND | 2 | 5208968 | 0 | 0 |
| IHS Holding Limited | ORD SHS | G4701H109 |  | 17587099 | 2357520 | SH |  | DFND | 1 | 2357520 | 0 | 0 |
| Inhibikase Therapeutics Inc | COM NEW | 45719W205 |  | 11992500 | 5850000 | SH |  | DFND | 2 | 5850000 | 0 | 0 |
| Instil Bio Inc | COM NEW | 45783C200 |  | 2243263 | 203933 | SH |  | DFND | 2 | 203933 | 0 | 0 |
| Invivyd Inc | COM | 00534A102 |  | 9880000 | 4000000 | SH |  | DFND | 2 | 4000000 | 0 | 0 |
| IONQ Inc | COM | 46222L108 |  | 7627900 | 170000 | SH |  | DFND | 1 | 170000 | 0 | 0 |
| IREN Ltd | ORDINARY SHARES | Q4982L109 |  | 1627887 | 43100 | SH |  | DFND | 2 | 43100 | 0 | 0 |
| Jfrog Ltd | ORD SHS | M6191J100 |  | 5847255 | 93616 | SH |  | DFND | 2 | 93616 | 0 | 0 |
| Kalaris Therapeutics Inc | COM | 482929106 |  | 3678135 | 435798 | SH |  | DFND | 2 | 435798 | 0 | 0 |
| Ke Holdings Inc | SPONSORED ADS | 482497104 |  | 2285200 | 145000 | SH |  | DFND | 2 | 145000 | 0 | 0 |
| Korro Bio Inc | COM | 500946108 |  | 2785221 | 347718 | SH |  | DFND | 2 | 347718 | 0 | 0 |
| Kymera Therapeutics Inc | COM | 501575104 |  | 255748242 | 3286830 | SH |  | DFND | 2 | 3286830 | 0 | 0 |
| Lexeo Therapeutics Inc | COM | 52886X107 |  | 7155776 | 720622 | SH |  | DFND | 2 | 720622 | 0 | 0 |
| Lexicon Pharmaceuticals Inc | COM NEW | 528872302 |  | 44756738 | 38918903 | SH |  | DFND | 2 | 38918903 | 0 | 0 |
| MapLight Therapeutics Inc | COM | 56565P103 |  | 7904250 | 450000 | SH |  | DFND | 2 | 450000 | 0 | 0 |
| Medline Inc | COM CL A | 58507V107 |  | 3150000 | 75000 | SH |  | DFND | 2 | 75000 | 0 | 0 |
| Meta Platforms Inc | CL A | 30303M102 |  | 4732185 | 7169 | SH |  | DFND | 2 | 7169 | 0 | 0 |
| Microsoft Corp | COM | 594918104 |  | 7254300 | 15000 | SH |  | DFND | 2 | 15000 | 0 | 0 |
| Mind Medicine (MindMed) Inc | COM NEW | 60255C885 |  | 10712000 | 800000 | SH |  | DFND | 2 | 800000 | 0 | 0 |
| Mineralys Therapeutics Inc | COM | 603170101 |  | 25402964 | 699999 | SH |  | DFND | 2 | 699999 | 0 | 0 |
| monday.com Ltd | SHS | M7S64H106 |  | 2508520 | 17000 | SH |  | DFND | 2 | 17000 | 0 | 0 |
| Monopar Therapeutics Inc | COM NEW | 61023L207 |  | 13863059 | 212298 | SH |  | DFND | 2 | 212298 | 0 | 0 |
| Nebius Group NV | SHS CLASS A | N97284108 |  | 6379828 | 76218 | SH |  | DFND | 2 | 76218 | 0 | 0 |
| Neumora Therapeutics Inc | COM | 640979100 |  | 11256922 | 6288783 | SH |  | DFND | 2 | 6288783 | 0 | 0 |
| New Oriental Education  Technology Group Inc | SPON ADR | 647581206 |  | 3411860 | 62000 | SH |  | DFND | 2 | 62000 | 0 | 0 |
| NovaBridge Biosciences | SPONSORED ADS | 44975P103 |  | 11940000 | 3000000 | SH |  | DFND | 2 | 3000000 | 0 | 0 |
| NVIDIA Corp | COM | 67066G104 |  | 6990953 | 37485 | SH |  | DFND | 2 | 37485 | 0 | 0 |
| Olema Pharmaceuticals Inc | COM | 68062P106 |  | 82517500 | 3300700 | SH |  | DFND | 2 | 3300700 | 0 | 0 |
| Oric Pharmaceuticals Inc | COM | 68622P109 |  | 8241964 | 1007575 | SH |  | DFND | 1 | 1007575 | 0 | 0 |
| Palo Alto Networks Inc | COM | 697435105 |  | 2109090 | 11450 | SH |  | DFND | 2 | 11450 | 0 | 0 |
| Palvella Therapeutics Inc | COM | 697947109 |  | 7850250 | 75000 | SH |  | DFND | 2 | 75000 | 0 | 0 |
| PDD Holdings Inc | SPONSORED ADS | 722304102 |  | 7189039 | 63401 | SH |  | DFND | 2 | 63401 | 0 | 0 |
| PepGen Inc | COM | 713317105 |  | 4557000 | 700000 | SH |  | DFND | 2 | 700000 | 0 | 0 |
| Primo Brands Corp | CLASS A COM SHS | 741623102 |  | 1226250 | 75000 | SH |  | DFND | 2 | 75000 | 0 | 0 |
| Qualcomm Inc | COM | 747525103 |  | 2394700 | 14000 | SH |  | DFND | 2 | 14000 | 0 | 0 |
| Rani Therapeutics Holdings Inc | COM CL A | 753018100 |  | 2700000 | 2000000 | SH |  | DFND | 2 | 2000000 | 0 | 0 |
| Rapport Therapeutics Inc | COM | 75383L102 |  | 21494949 | 708469 | SH |  | DFND | 2 | 708469 | 0 | 0 |
| RAPT Therapeutics Inc | COM NEW | 75382E208 |  | 46571250 | 1375000 | SH |  | DFND | 2 | 1375000 | 0 | 0 |
| Remitly Global Inc | COM | 75960P104 |  | 1035000 | 75000 | SH |  | DFND | 2 | 75000 | 0 | 0 |
| Remitly Global Inc | COM | 75960P104 |  | 21297140 | 1543271 | SH |  | DFND | 1 | 1543271 | 0 | 0 |
| Revolution Medicines Inc | COM | 76155X100 |  | 106338724 | 1335075 | SH |  | DFND | 2 | 1335075 | 0 | 0 |
| Rhythm Pharmaceuticals Inc | COM | 76243J105 |  | 53517324 | 499975 | SH |  | DFND | 2 | 499975 | 0 | 0 |
| Sagimet Biosciences Inc | COM SER A | 786700104 |  | 4290644 | 724771 | SH |  | DFND | 2 | 724771 | 0 | 0 |
| Salesforce Inc | COM | 79466L302 |  | 6914151 | 26100 | SH |  | DFND | 2 | 26100 | 0 | 0 |
| Savara Inc | COM | 805111101 |  | 6030000 | 1000000 | SH |  | DFND | 2 | 1000000 | 0 | 0 |
| Scholar Rock Holding Corp | COM | 80706P103 |  | 476841823 | 10825013 | SH |  | DFND | 2 | 10825013 | 0 | 0 |
| Seer Inc | COM CL A | 81578P106 |  | 7320000 | 4000000 | SH |  | DFND | 2 | 4000000 | 0 | 0 |
| Septerna Inc | COM | 81734D104 |  | 55760000 | 2000000 | SH |  | DFND | 2 | 2000000 | 0 | 0 |
| ServiceNow Inc | COM | 81762P102 |  | 5458160 | 35630 | SH |  | DFND | 2 | 35630 | 0 | 0 |
| Silence Therapeutics PLC | ADS | 82686Q101 |  | 17701543 | 2911438 | SH |  | DFND | 2 | 2911438 | 0 | 0 |
| Sionna Therapeutics Inc | COM | 829401108 |  | 12342000 | 300000 | SH |  | DFND | 2 | 300000 | 0 | 0 |
| Solid Biosciences Inc | COM NEW | 83422E204 |  | 43373884 | 7690405 | SH |  | DFND | 2 | 7690405 | 0 | 0 |
| Spyre Therapeutics Inc | COM NEW | 00773J202 |  | 26817270 | 818598 | SH |  | DFND | 2 | 818598 | 0 | 0 |
| Stoke Therapeutics Inc | COM | 86150R107 |  | 71330794 | 2247347 | SH |  | DFND | 2 | 2247347 | 0 | 0 |
| Structure Therapeutics Inc | SPONSORED ADS | 86366E106 |  | 75023446 | 1078698 | SH |  | DFND | 2 | 1078698 | 0 | 0 |
| Taboola.com Ltd | ORD SHS | M8744T106 |  | 45959372 | 9969495 | SH |  | DFND | 1 | 9969495 | 0 | 0 |
| Taiwan Semiconductor Manufacturing Co Ltd | SPONSORED ADS | 874039100 |  | 8417753 | 27700 | SH |  | DFND | 2 | 27700 | 0 | 0 |
| Tango Therapeutics Inc | COM | 87583X109 |  | 72345214 | 8165374 | SH |  | DFND | 2 | 8165374 | 0 | 0 |
| Taysha Gene Therapies Inc | COM SHS | 877619106 |  | 55714522 | 10129913 | SH |  | DFND | 2 | 10129913 | 0 | 0 |
| Tenax Therapeutics Inc | COM NEW | 88032L605 |  | 5206849 | 427141 | SH |  | DFND | 2 | 427141 | 0 | 0 |
| Tesla Inc | COM | 88160R101 |  | 674580 | 1500 | SH |  | DFND | 2 | 1500 | 0 | 0 |
| Trevi Therapeutics Inc | COM | 89532M101 |  | 28631575 | 2286867 | SH |  | DFND | 2 | 2286867 | 0 | 0 |
| Upstream Bio Inc | COM | 91678A107 |  | 15976418 | 588450 | SH |  | DFND | 2 | 588450 | 0 | 0 |
| Varonis Systems Inc | COM | 922280102 |  | 1230000 | 37500 | SH |  | DFND | 2 | 37500 | 0 | 0 |
| vTv Therapeutics Inc | CL A NEW | 918385204 |  | 6518370 | 163000 | SH |  | DFND | 2 | 163000 | 0 | 0 |
| WAVE Life Sciences Ltd | SHS | Y95308105 |  | 41650000 | 2450000 | SH |  | DFND | 2 | 2450000 | 0 | 0 |
| Whitehawk Therapeutics Inc | COM | 00032Q104 |  | 5038440 | 2082000 | SH |  | DFND | 2 | 2082000 | 0 | 0 |
| Workiva Inc | COM CL A | 98139A105 |  | 6824359 | 79123 | SH |  | DFND | 2 | 79123 | 0 | 0 |
| X4 Pharmaceuticals Inc | COM NEW | 98420X202 |  | 6000000 | 1500000 | SH |  | DFND | 2 | 1500000 | 0 | 0 |
| Xenon Pharmaceuticals Inc | COM | 98420N105 |  | 36427948 | 812761 | SH |  | DFND | 2 | 812761 | 0 | 0 |
| Zscaler Inc | COM | 98980G102 |  | 2699040 | 12000 | SH |  | DFND | 2 | 12000 | 0 | 0 |
| Zura Bio Ltd | CLASS A ORD SHS | G9TY5A101 |  | 6812000 | 1300000 | SH |  | DFND | 2 | 1300000 | 0 | 0 |
| Zymeworks Inc | COM | 98985Y108 |  | 44237586 | 1680121 | SH |  | DFND | 2 | 1680121 | 0 | 0 |

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