# EDGAR Filing Document

**Accession Number:** 0002005245
**File Stem:** 0002005245-25-000012
**Filing Date:** 2025-11
**Character Count:** 15965
**Document Hash:** 1079a1c86fa6d3f6da77cbe3b8a4a5be
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002005245-25-000012.hdr.sgml**: 20251113

**ACCESSION NUMBER**: 0002005245-25-000012

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251113

**DATE AS OF CHANGE**: 20251113

**EFFECTIVENESS DATE**: 20251113

**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:** 251476271

**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:** 09-30-2025

**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:** Managing Member<br>**Phone:** 212-371-1717

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

/s/ Raymond Debbane  New York, NY  11-13-2025<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:** 117

**Form 13F Information Table Value Total:** $2556293148

      (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 |  | 5309240 | 15051 | SH |  | DFND | 2 | 15051 | 0 | 0 |
| Agenus Inc | COM NEW | 00847G804 |  | 4097363 | 1064250 | SH |  | DFND | 2 | 1064250 | 0 | 0 |
| Alphabet Inc | CAP STK CL A | 02079K305 |  | 5154449 | 21203 | SH |  | DFND | 2 | 21203 | 0 | 0 |
| Amazon.com Inc | COM | 023135106 |  | 12844845 | 58500 | SH |  | DFND | 2 | 58500 | 0 | 0 |
| Amer Sports Inc | COM SHS | G0260P102 |  | 868750 | 25000 | SH |  | DFND | 2 | 25000 | 0 | 0 |
| Apellis Pharmaceuticals Inc | COM | 03753U106 |  | 58349101 | 2578396 | SH |  | DFND | 2 | 2578396 | 0 | 0 |
| Arcus Biosciences Inc | COM | 03969F109 |  | 21924247 | 1612077 | SH |  | DFND | 1 | 1612077 | 0 | 0 |
| Arcus Biosciences Inc | COM | 03969F109 |  | 17680000 | 1300000 | SH |  | DFND | 2 | 1300000 | 0 | 0 |
| Arrivent Biopharma Inc | COM | 04272N102 |  | 12915000 | 700000 | SH |  | DFND | 2 | 700000 | 0 | 0 |
| Arrowhead Pharmaceuticals Inc | COM | 04280A100 |  | 92084161 | 2669880 | SH |  | DFND | 2 | 2669880 | 0 | 0 |
| Ascendis Pharma A/S | SPONSORED ADR | 04351P101 |  | 46891724 | 235862 | SH |  | DFND | 2 | 235862 | 0 | 0 |
| Astera Labs Inc | COM | 04626A103 |  | 685300 | 3500 | SH |  | DFND | 2 | 3500 | 0 | 0 |
| Avidity Biosciences Inc | COM | 05370A108 |  | 56014028 | 1285610 | SH |  | DFND | 2 | 1285610 | 0 | 0 |
| BeOne Medicines AG | SPONSORED ADS | 07725L102 |  | 167961693 | 492990 | SH |  | DFND | 2 | 492990 | 0 | 0 |
| Bicara Therapeutics Inc | COM | 055477103 |  | 82375941 | 5216969 | SH |  | DFND | 2 | 5216969 | 0 | 0 |
| Bicycle Therapeutics PLC | SPONSORED ADS | 088786108 |  | 15578700 | 2012752 | SH |  | DFND | 2 | 2012752 | 0 | 0 |
| BIOAGE Labs Inc | COM | 09077V100 |  | 2248547 | 382406 | SH |  | DFND | 2 | 382406 | 0 | 0 |
| Black Diamond Therapeutics Inc | COM | 09203E105 |  | 3966299 | 1046517 | SH |  | DFND | 2 | 1046517 | 0 | 0 |
| Caribou Biosciences Inc | COM | 142038108 |  | 245459 | 105347 | SH |  | DFND | 2 | 105347 | 0 | 0 |
| Cartesian Therapeutics Inc | COM NEW | 816212302 |  | 5756640 | 563272 | SH |  | DFND | 2 | 563272 | 0 | 0 |
| CCC Intelligent Solutions Holdings Inc | COM | 12510Q100 |  | 455500 | 50000 | SH |  | DFND | 2 | 50000 | 0 | 0 |
| Cellebrite DI Ltd | ORDINARY SHARES | M2197Q107 |  | 1667700 | 90000 | SH |  | DFND | 2 | 90000 | 0 | 0 |
| Centessa Pharmaceuticals PLC | SPONSORED ADS | 152309100 |  | 78267287 | 3227517 | SH |  | DFND | 2 | 3227517 | 0 | 0 |
| Chime Financial Inc | COM SHS CL A | 16935C109 |  | 504250 | 25000 | SH |  | DFND | 2 | 25000 | 0 | 0 |
| Chipotle Mexican Grill Inc | COM | 169656105 |  | 1861525 | 47500 | SH |  | DFND | 2 | 47500 | 0 | 0 |
| Cogent Biosciences Inc | COM | 19240Q201 |  | 24760646 | 1724279 | SH |  | DFND | 2 | 1724279 | 0 | 0 |
| Confluent Inc | CLASS A COM | 20717M103 |  | 742500 | 37500 | SH |  | DFND | 2 | 37500 | 0 | 0 |
| CoreWeave Inc | COM CL A | 21873S108 |  | 3284400 | 24000 | SH |  | DFND | 2 | 24000 | 0 | 0 |
| Crinetics Pharmaceuticals Inc | COM | 22663K107 |  | 70330648 | 1688611 | SH |  | DFND | 2 | 1688611 | 0 | 0 |
| CrowdStrike Holdings Inc | CL A | 22788C105 |  | 9072030 | 18500 | SH |  | DFND | 2 | 18500 | 0 | 0 |
| Cullinan Therapeutics Inc | COM | 230031106 |  | 7076921 | 1193410 | SH |  | DFND | 2 | 1193410 | 0 | 0 |
| Cyclerion Therapeutics Inc | COM | 23255M204 |  | 267157 | 116155 | SH |  | DFND | 2 | 116155 | 0 | 0 |
| Datadog Inc | CL A COM | 23804L103 |  | 4688520 | 32925 | SH |  | DFND | 2 | 32925 | 0 | 0 |
| Denali Therapeutics Inc | COM | 24823R105 |  | 11928369 | 821513 | SH |  | DFND | 2 | 821513 | 0 | 0 |
| Disc Medicine Inc | COM | 254604101 |  | 60357538 | 913401 | SH |  | DFND | 2 | 913401 | 0 | 0 |
| Dynatrace Inc | COM NEW | 268150109 |  | 4856095 | 100229 | SH |  | DFND | 2 | 100229 | 0 | 0 |
| Dyne Therapeutics Inc | COM | 26818M108 |  | 59824051 | 4729174 | SH |  | DFND | 2 | 4729174 | 0 | 0 |
| Edgewise Therapeutics Inc | COM | 28036F105 |  | 63210946 | 3897099 | SH |  | DFND | 2 | 3897099 | 0 | 0 |
| Elastic NV | ORD SHS | N14506104 |  | 1056125 | 12500 | SH |  | DFND | 2 | 12500 | 0 | 0 |
| Eledon Pharmaceuticals Inc | COM | 28617K101 |  | 5368467 | 2072767 | SH |  | DFND | 2 | 2072767 | 0 | 0 |
| Erasca Inc | COM | 29479A108 |  | 19090803 | 8757249 | SH |  | DFND | 2 | 8757249 | 0 | 0 |
| Figma Inc | CLASS A COM STK | 316841105 |  | 778050 | 15000 | SH |  | DFND | 2 | 15000 | 0 | 0 |
| Foghorn Therapeutics Inc | COM | 344174107 |  | 3524321 | 720720 | SH |  | DFND | 2 | 720720 | 0 | 0 |
| Generation Bio Co | COM NEW | 37148K209 |  | 1816979 | 296892 | SH |  | DFND | 2 | 296892 | 0 | 0 |
| GitLab Inc | CLASS A COM | 37637K108 |  | 2885120 | 64000 | SH |  | DFND | 2 | 64000 | 0 | 0 |
| Gossamer Bio Inc | COM | 38341P102 |  | 13699586 | 5208968 | SH |  | DFND | 2 | 5208968 | 0 | 0 |
| HubSpot Inc | COM | 443573100 |  | 1871200 | 4000 | SH |  | DFND | 2 | 4000 | 0 | 0 |
| IHS Holding Limited | ORD SHS | G4701H109 |  | 16078286 | 2357520 | SH |  | DFND | 1 | 2357520 | 0 | 0 |
| I-Mab | SPONSORED ADS | 44975P103 |  | 4407317 | 1165957 | SH |  | DFND | 2 | 1165957 | 0 | 0 |
| Instil Bio Inc | COM NEW | 45783C200 |  | 3642243 | 203933 | SH |  | DFND | 2 | 203933 | 0 | 0 |
| IONQ Inc | COM | 46222L108 |  | 10455000 | 170000 | SH |  | DFND | 1 | 170000 | 0 | 0 |
| IREN Ltd | ORDINARY SHARES | Q4982L109 |  | 938100 | 20000 | SH |  | DFND | 2 | 20000 | 0 | 0 |
| Ironwood Pharmaceuticals Inc | COM CL A | 46333X108 |  | 144797 | 110532 | SH |  | DFND | 2 | 110532 | 0 | 0 |
| Jfrog Ltd | ORD SHS | M6191J100 |  | 5069800 | 107116 | SH |  | DFND | 2 | 107116 | 0 | 0 |
| Kalaris Therapeutics Inc | COM | 482929106 |  | 1839566 | 318264 | SH |  | DFND | 2 | 318264 | 0 | 0 |
| Ke Holdings Inc | SPONSORED ADS | 482497104 |  | 2755000 | 145000 | SH |  | DFND | 2 | 145000 | 0 | 0 |
| Kenvue Inc | COM | 49177J102 |  | 405750 | 25000 | SH |  | DFND | 2 | 25000 | 0 | 0 |
| Keurig Dr Pepper Inc | COM | 49271V100 |  | 1965546 | 77050 | SH |  | DFND | 2 | 77050 | 0 | 0 |
| Korro Bio Inc | COM | 500946108 |  | 20057912 | 418833 | SH |  | DFND | 2 | 418833 | 0 | 0 |
| Kymera Therapeutics Inc | COM | 501575104 |  | 194033290 | 3428150 | SH |  | DFND | 2 | 3428150 | 0 | 0 |
| Lexeo Therapeutics Inc | COM | 52886X107 |  | 4006808 | 603435 | SH |  | DFND | 2 | 603435 | 0 | 0 |
| Lexicon Pharmaceuticals Inc | COM NEW | 528872302 |  | 52540519 | 38918903 | SH |  | DFND | 2 | 38918903 | 0 | 0 |
| Microsoft Corp | COM | 594918104 |  | 8882843 | 17150 | SH |  | DFND | 2 | 17150 | 0 | 0 |
| monday.com Ltd | SHS | M7S64H106 |  | 1355830 | 7000 | SH |  | DFND | 2 | 7000 | 0 | 0 |
| Nebius Group NV | SHS CLASS A | N97284108 |  | 8150802 | 72600 | SH |  | DFND | 2 | 72600 | 0 | 0 |
| Neumora Therapeutics Inc | COM | 640979100 |  | 7932075 | 4358283 | SH |  | DFND | 2 | 4358283 | 0 | 0 |
| New Oriental Education  Technology Group Inc | SPON ADR | 647581206 |  | 3290340 | 62000 | SH |  | DFND | 2 | 62000 | 0 | 0 |
| NewAmsterdam Pharma Company NV | ORDINARY SHARES | N62509109 |  | 21776650 | 765705 | SH |  | DFND | 2 | 765705 | 0 | 0 |
| NIQ Global Intelligence PLC | ORDINARY SHARES | G63755105 |  | 1491500 | 95000 | SH |  | DFND | 2 | 95000 | 0 | 0 |
| NVIDIA Corp | COM | 67066G104 |  | 6993764 | 37485 | SH |  | DFND | 2 | 37485 | 0 | 0 |
| Oric Pharmaceuticals Inc | COM | 68622P109 |  | 12090900 | 1007575 | SH |  | DFND | 1 | 1007575 | 0 | 0 |
| Palo Alto Networks Inc | COM | 697435105 |  | 2738689 | 13450 | SH |  | DFND | 2 | 13450 | 0 | 0 |
| PDD Holdings Inc | SPONSORED ADS | 722304102 |  | 5736310 | 43401 | SH |  | DFND | 2 | 43401 | 0 | 0 |
| PepGen Inc | COM | 713317105 |  | 3234000 | 700000 | SH |  | DFND | 2 | 700000 | 0 | 0 |
| Pinterest Inc | CL A | 72352L106 |  | 804250 | 25000 | SH |  | DFND | 2 | 25000 | 0 | 0 |
| Primo Brands Corp | CLASS A COM SHS | 741623102 |  | 1657500 | 75000 | SH |  | DFND | 2 | 75000 | 0 | 0 |
| Procore Technologies Inc | COM | 74275K108 |  | 729200 | 10000 | SH |  | DFND | 2 | 10000 | 0 | 0 |
| ProQR Therapeutics NV | SHS EURO | N71542109 |  | 3306150 | 1552183 | SH |  | DFND | 2 | 1552183 | 0 | 0 |
| Qualcomm Inc | COM | 747525103 |  | 2329040 | 14000 | SH |  | DFND | 2 | 14000 | 0 | 0 |
| Rapport Therapeutics Inc | COM | 75383L102 |  | 31288029 | 1053469 | SH |  | DFND | 2 | 1053469 | 0 | 0 |
| RAPT Therapeutics Inc | COM NEW | 75382E208 |  | 14970218 | 580466 | SH |  | DFND | 2 | 580466 | 0 | 0 |
| Remitly Global Inc | COM | 75960P104 |  | 1222500 | 75000 | SH |  | DFND | 2 | 75000 | 0 | 0 |
| Remitly Global Inc | COM | 75960P104 |  | 25155317 | 1543271 | SH |  | DFND | 1 | 1543271 | 0 | 0 |
| Revolution Medicines Inc | COM | 76155X100 |  | 48741724 | 1043720 | SH |  | DFND | 2 | 1043720 | 0 | 0 |
| Rezolute Inc | COM NEW | 76200L309 |  | 45778000 | 4870000 | SH |  | DFND | 2 | 4870000 | 0 | 0 |
| Rhythm Pharmaceuticals Inc | COM | 76243J105 |  | 50492475 | 499975 | SH |  | DFND | 2 | 499975 | 0 | 0 |
| Sagimet Biosciences Inc | COM SER A | 786700104 |  | 4971929 | 724771 | SH |  | DFND | 2 | 724771 | 0 | 0 |
| SailPoint Inc | COM | 78781J109 |  | 1104000 | 50000 | SH |  | DFND | 2 | 50000 | 0 | 0 |
| Salesforce Inc | COM | 79466L302 |  | 7133700 | 30100 | SH |  | DFND | 2 | 30100 | 0 | 0 |
| Scholar Rock Holding Corp | COM | 80706P103 |  | 344470186 | 9250005 | SH |  | DFND | 2 | 9250005 | 0 | 0 |
| Seer Inc | COM CL A | 81578P106 |  | 8680000 | 4000000 | SH |  | DFND | 2 | 4000000 | 0 | 0 |
| SEMrush Holdings Inc | CL A COM | 81686C104 |  | 885000 | 125000 | SH |  | DFND | 2 | 125000 | 0 | 0 |
| Septerna Inc | COM | 81734D104 |  | 41429288 | 2202514 | SH |  | DFND | 2 | 2202514 | 0 | 0 |
| ServiceNow Inc | COM | 81762P102 |  | 6557915 | 7126 | SH |  | DFND | 2 | 7126 | 0 | 0 |
| Silence Therapeutics PLC | ADS | 82686Q101 |  | 15110363 | 2911438 | SH |  | DFND | 2 | 2911438 | 0 | 0 |
| Sionna Therapeutics Inc | COM | 829401108 |  | 9558250 | 325000 | SH |  | DFND | 2 | 325000 | 0 | 0 |
| Soleno Therapeutics Inc | COM | 834203309 |  | 31592319 | 467342 | SH |  | DFND | 2 | 467342 | 0 | 0 |
| Solid Biosciences Inc | COM NEW | 83422E204 |  | 45756134 | 7415905 | SH |  | DFND | 2 | 7415905 | 0 | 0 |
| Spotify Technology SA | SHS | L8681T102 |  | 1516754 | 2173 | SH |  | DFND | 2 | 2173 | 0 | 0 |
| Spyre Therapeutics Inc | COM NEW | 00773J202 |  | 6177702 | 368598 | SH |  | DFND | 2 | 368598 | 0 | 0 |
| Stoke Therapeutics Inc | COM | 86150R107 |  | 52812655 | 2247347 | SH |  | DFND | 2 | 2247347 | 0 | 0 |
| Structure Therapeutics Inc | SPONSORED ADS | 86366E106 |  | 28750708 | 1026811 | SH |  | DFND | 2 | 1026811 | 0 | 0 |
| Taboola.com Ltd | ORD SHS | M8744T106 |  | 33995978 | 9969495 | SH |  | DFND | 1 | 9969495 | 0 | 0 |
| Taiwan Semiconductor Manufacturing Co Ltd | SPONSORED ADS | 874039100 |  | 7875978 | 28200 | SH |  | DFND | 2 | 28200 | 0 | 0 |
| Tango Therapeutics Inc | COM | 87583X109 |  | 49418779 | 5883188 | SH |  | DFND | 2 | 5883188 | 0 | 0 |
| Taysha Gene Therapies Inc | COM SHS | 877619106 |  | 36018190 | 11014737 | SH |  | DFND | 2 | 11014737 | 0 | 0 |
| Tenax Therapeutics Inc | COM NEW | 88032L605 |  | 2682076 | 352441 | SH |  | DFND | 2 | 352441 | 0 | 0 |
| Tesla Inc | COM | 88160R101 |  | 667080 | 1500 | SH |  | DFND | 2 | 1500 | 0 | 0 |
| Trevi Therapeutics Inc | COM | 89532M101 |  | 23212333 | 2536867 | SH |  | DFND | 2 | 2536867 | 0 | 0 |
| Uniqure NV | SHS | N90064101 |  | 16063424 | 275200 | SH |  | DFND | 2 | 275200 | 0 | 0 |
| Upstream Bio Inc | COM | 91678A107 |  | 14830745 | 788450 | SH |  | DFND | 2 | 788450 | 0 | 0 |
| Vertiv Holdings Co | COM CL A | 92537N108 |  | 301720 | 2000 | SH |  | DFND | 2 | 2000 | 0 | 0 |
| vTv Therapeutics Inc | CL A NEW | 918385204 |  | 3806050 | 163000 | SH |  | DFND | 2 | 163000 | 0 | 0 |
| WAVE Life Sciences Ltd | SHS | Y95308105 |  | 27057077 | 3696322 | SH |  | DFND | 2 | 3696322 | 0 | 0 |
| Whitehawk Therapeutics Inc | COM | 00032Q104 |  | 3955800 | 2082000 | SH |  | DFND | 2 | 2082000 | 0 | 0 |
| Workiva Inc | COM CL A | 98139A105 |  | 2582400 | 30000 | SH |  | DFND | 2 | 30000 | 0 | 0 |
| Xenon Pharmaceuticals Inc | COM | 98420N105 |  | 32632354 | 812761 | SH |  | DFND | 2 | 812761 | 0 | 0 |

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