Large holders report 6.5% and 6.9% stakes in Caris Life Sciences (CAI)

Rhea-AI Filing Summary

Caris Life Sciences, Inc. received an updated ownership report from investment entities affiliated with TSSP Sub-Fund HoldCo, LLC and Alan Waxman. As of December 31, 2025, TSSP Sub-Fund HoldCo reports beneficial ownership of 18,416,128 shares of common stock, representing 6.5% of the company. Alan Waxman reports beneficial ownership of 19,385,399 shares, or 6.9% of the outstanding common stock.

The ownership percentages are calculated using 282,146,923 shares outstanding as of November 3, 2025, as disclosed in the company’s Form 10-Q. The filing explains that the reported holdings are spread across several affiliated investment vehicles and that each reporting person formally disclaims beneficial ownership of the securities held by those entities.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

CARIS LIFE SCIENCES, INC.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

142152107

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 142152107

1

Names of Reporting Persons

TSSP Sub-Fund HoldCo, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 18,416,128.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 18,416,128.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

18,416,128.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.5 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 142152107

1

Names of Reporting Persons

Alan Waxman

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 19,385,399.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 19,385,399.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,385,399.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.9 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CARIS LIFE SCIENCES, INC.
(b)	Address of issuer's principal executive offices: 750 W. John Carpenter Freeway, Suite 800 Irving, TX 75039
Item 2.
(a)	Name of person filing: This Amendment No. 1 to Schedule 13G is being filed jointly by TSSP Sub-Fund HoldCo, LLC ("Sub-Fund Holdco") and Alan Waxman ("Mr. Waxman" and each a "Reporting Person" and, together, the "Reporting Persons"), pursuant to an Agreement of Joint Filing incorporated by reference herein in accordance with Rule 13d-1(k)(1) under the Act.
(b)	Address or principal business office or, if none, residence: The principal business address of Sub-Fund HoldCo is as follows: c/o Sixth Street Partners, LLC 2100 McKinney Avenue Suite 1500 Dallas, TX 75201 The principal business address of Mr. Waxman is as follows: 1 Letterman Drive, Building B, Suite B6-100 San Francisco, CA 94129
(c)	Citizenship: Sub-Fund HoldCo is organized under the laws of the State of Delaware. Mr. Waxman is a citizen of the United States.
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 142152107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: As of December 31, 2025, each of the Reporting Persons may be deemed to be the beneficial owner of the common stock, par value $0.001 per share ("Common Stock") listed on such Reporting Person's cover page. Calculation of the percentage of Common Stock beneficially owned as of December 31, 2025 is based on 282,146,923 shares of Common Stock outstanding as of November 3, 2025 as disclosed in the Issuer's Quarterly Report filed on Form 10-Q filed with the Securities and Exchange Commission on November 5, 2025. As of December 31, 2025, 4,521,074 shares of Common Stock are held directly by Barnett Equity Holdings, LLC, 969,271 shares of Common Stock are held directly by Sixth Street Specialty Lending Inc., 3,086,022 shares of Common Stock are held directly by TOP III Barnett Investments, LLC, 8,031,613 shares of Common Stock are held directly by Barnett Equity Holdings II, LLC and 2,777,419 shares of Common Stock are held directly by TAO Barnett Investments, LLC. TAO SPV GP, LLC, a Delaware limited liability company, is the managing member of each of (i) Barnett Equity Holdings, LLC; (ii) Barnett Equity Holdings II LLC; and (iii) TAO Barnett Investments, LLC. Empire SPV GP, LLC, a Delaware limited liability company, is the managing member of TOP III Barnett Investments, LLC. Sub-Fund HoldCo is the sole member of each of TAO SPV GP, LLC and Empire SPV GP, LLC. Sixth Street Specialty Lending, Inc. is managed by Sixth Street Specialty Lending Advisers, LLC, a Delaware limited liability company. TSSP Holdco Management, LLC, a Delaware limited liability company ("Holdco Management"), manages Sixth Street Specialty Lending Advisers Holdings, LLC, a Delaware limited liability company. The business and affairs of Sixth Street Specialty Lending Advisers, LLC are managed by Sixth Street Specialty Lending Advisers Holdings, LLC, the sole member of Sixth Street Specialty Lending Advisers, LLC. Sub-Fund HoldCo is managed by its sole member, whose managing member is Mr. Waxman. Holdco Management is managed by a board of directors, which is currently comprised of Mr. Waxman. Mr. Waxman is the CEO of Holdco Management. Each Reporting Person disclaims beneficial ownership of the securities held directly by Barnett Equity Holdings, LLC, Sixth Street Specialty Lending Inc, TOP III Barnett Investments, LLC, Barnett Equity Holdings II, LLC and TAO Barnett Investments, LLC. Neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that any Reporting Person is the beneficial owner of the Common Stock referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, or for any other purpose.
(b)	Percent of class: See each cover page hereof.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See each cover page hereof.
	(ii) Shared power to vote or to direct the vote: See each cover page hereof.
	(iii) Sole power to dispose or to direct the disposition of: See each cover page hereof.
	(iv) Shared power to dispose or to direct the disposition of: See each cover page hereof.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

TSSP Sub-Fund HoldCo, LLC

Signature:	/s/ Joshua Peck
Name/Title:	Joshua Peck, Vice President
Date:	02/13/2026

Alan Waxman

Signature:	/s/ Joshua Peck
Name/Title:	Joshua Peck, on behalf of Alan Waxman (*)
Date:	02/13/2026

Comments accompanying signature: Joshua Peck is signing on behalf of Mr. Waxman pursuant to an authorization and designation letter dated December 31, 2024.

Exhibit Information

Exhibit 1 - Agreement of Joint Filing (previously filed) Exhibit 2 - Authorization and Designation Letter, dated December 31, 2024, by Alan Waxman (previously filed)

FAQ

What ownership stake in Caris Life Sciences (CAI) does TSSP Sub-Fund HoldCo report?

TSSP Sub-Fund HoldCo reports beneficial ownership of 18,416,128 Caris Life Sciences common shares, equal to 6.5% of the company. This percentage is based on 282,146,923 shares outstanding as of November 3, 2025, from the company’s Form 10-Q.

How many Caris Life Sciences (CAI) shares does Alan Waxman report owning?

Alan Waxman reports beneficial ownership of 19,385,399 shares of Caris Life Sciences common stock, representing 6.9% of the class. This stake is calculated using 282,146,923 shares outstanding as of November 3, 2025, per the company’s Form 10-Q.

How are the reported Caris Life Sciences (CAI) shares held across entities?

The filing states that 4,521,074 shares are held by Barnett Equity Holdings, 969,271 by Sixth Street Specialty Lending Inc., 3,086,022 by TOP III Barnett Investments, 8,031,613 by Barnett Equity Holdings II, and 2,777,419 by TAO Barnett Investments, with various affiliated managers.

What share count did Caris Life Sciences (CAI) use to calculate ownership percentages?

Ownership percentages are based on 282,146,923 common shares outstanding as of November 3, 2025. This share count comes from Caris Life Sciences’ Quarterly Report on Form 10-Q filed with the SEC on November 5, 2025, and is cited directly in the ownership section.

Do the reporting persons claim full beneficial ownership of Caris Life Sciences (CAI) shares?

The filing explains that each reporting person disclaims beneficial ownership of securities held directly by the listed investment entities. It also notes that submitting this statement does not constitute an admission of beneficial ownership for Section 13(d) purposes or any other purpose.

What type of Caris Life Sciences (CAI) security is covered in this ownership report?

The report covers common stock of Caris Life Sciences, with a par value of $0.001 per share. The filing identifies the security class as common stock and references the CUSIP number 142152107, tying all reported ownership figures to this security class.