Siren, L.L.C.

CIK 0002005245 · Q2 2026

13F Equity AUM

$4.9B

+37.0% QoQ

Positions

116

+16 QoQ

AUM Rank

#1,522

Top 12%

Skill Alpha (FF)

—

Building track record (7q)

Quarters Tracked

~2 years

Portfolio Concentration

Top 5: 29.7%Top 10: 44.6%Top 20: 62.3%

SRRK10.7%

KYMR6.8%

ERAS4.2%

Veradermics Inc4.1%

TNGX3.9%

RVMD3.4%

BCAX3.4%

ARWR2.8%

ONC2.7%

EWTX2.6%

Others (106)55.4%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Healthcare83.1%

Unclassified9.9%

Technology3.8%

Other3.3%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 116Median: 0.37%Avg: 0.86%

0–0.5%

66(10.7%)

0.5–1%

20(13.9%)

1–3%

23(38.9%)

3–5%

5(19.0%)

5%+

2(17.5%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 116vs 20 funds

0%Low

116

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New26Increased32Decreased20Exited10

New Positions

Parabilis Medicines …1.7%

+3.0M

Hemab Therapeutics H…1.6%

+2.1M

ABVX1.6%

+576K

RLAY1.4%

+3.6M

Kailera Therapeutics…1.0%

+2.2M

COF0.7%

+172K

ORKA0.5%

+250K

Seaport Therapeutics…0.5%

+1.1M

TYRA0.5%

+725K

ADAG0.2%

+2.7M

Increased

ELVN1.8%

+1.0M(+138%)

TSHA1.4%

+1.0M(+12%)

IVVD0.1%

+1.0M(+25%)

CGEM0.7%

+700K(+59%)

ABSI0.6%

+675K(+37%)

TNGX3.9%

+522K(+9%)

DFTX1.4%

+500K(+54%)

ANNX0.5%

+500K(+13%)

RYTM2.5%

+411K(+57%)

SLN0.7%

+400K(+14%)

Decreased

TBLAW0.8%

-1,546,085(-16%)

SRRK10.7%

-1,250,000(-12%)

EWTX2.6%

-1,245,634(-28%)

NBP0.1%

-995,261(-33%)

RCUS1.5%

-586,647(-20%)

CRNX1.1%

-482,848(-25%)

GPCR0.9%

-455,731(-34%)

KYMR6.8%

-251,000(-8%)

RVMD3.4%

-210,980(-19%)

BCAX3.4%

-200,000(-3%)

Exited

-1,053,464

-5,253,159

-2,350,000

-2,450,000

-1,000,000

-1,560,882

Forgent Power Soluti…

-100,000

-6,000

-50,000

PRMB

-50,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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