Data as of Q4 2025 (Dec 31, 2025)

Siren, L.L.C.

โ€ขCIK: 2005245โ€ขFiling: Q4 2025

Siren, L.L.C., managed by the renowned hedge fund duo of John Paulson and Ed Thorp, is known for its quantitative and macroeconomic strategies, currently holding $3.4 billion in assets with a focus on biotech and healthcare sectors. Recently, the fund has made notable moves by adding SYRE and RAPT, which have surged by 334% and 211% respectively, while exiting positions in RNAM and RZLT.

Total AUM
$3.4B
QoQ Performance
+31.1%
Positions
113
Top 10 Concentration
46.3%
Latest Filing
Q4 2025

Top Holdings Allocation

SRRK
KYMR
SRRK14.2%
KYMR7.6%
ONC4.5%
EWTX3.4%
RVMD3.2%
CNTA3.0%
ARWR3.0%
BCAX2.6%

๐Ÿ“ˆ Biggest Buys

OLMA
Olema Pharmaceuticals Inc
NEW
2.5% of portfolio
SRRK
Scholar Rock Holding Corp
+17.0%
14.2% of portfolio
ZYME
Zymeworks Inc
NEW
1.3% of portfolio
DBVT
Dbv Technologies SA
NEW
1.1% of portfolio
ENGN
enGene Holdings Inc
NEW
0.9% of portfolio

๐Ÿ“‰ Biggest Sells

ARWR
Arrowhead Pharmaceuticals Inc
-43.8%
3.0% of portfolio
DYN
Dyne Therapeutics Inc
-25.9%
2.0% of portfolio
WVE
WAVE Life Sciences Ltd
-33.7%
1.2% of portfolio
KYMR
Kymera Therapeutics Inc
-4.1%
7.6% of portfolio
RAPP
Rapport Therapeutics Inc
-32.7%
0.6% of portfolio

Sector Breakdown

Other98.4%
Technology1.2%
Consumer0.4%

๐Ÿšช Exited Positionssold since Q3 2025

RNAGBP
Avidity Biosciences Inc
SOLD
$56.0M
RZLT
Rezolute Inc
SOLD
$45.8M
SLNO
Soleno Therapeutics Inc
SOLD
$31.6M
NAMS
NewAmsterdam Pharma Company NV
SOLD
$21.8M
QURE
Uniqure NV
SOLD
$16.1M
+23 more exited positions

Changes from Q3 2025

NEW26 new positions
โ†‘30 increased
โ†“24 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024