Halbert Entities Hold 44.1% of Caris Life Sciences (CAI) Shares

Rhea-AI Filing Summary

David D. Halbert and affiliated entities report substantial ownership in Caris Life Sciences. Mr. Halbert directly holds 1,881,294 shares and 2,000,000 fully vested options, and reports shared beneficial ownership of additional shares held by affiliated entities. The filing shows an aggregate of 124,906,296 shares, which the filer states represents 44.1% of the outstanding common stock.

The shared holdings include 101,261,532 shares held by Caris Halbert, L.P. and additional shares held by ADAPT I Ltd., Carisome I, L.P., Caris Investment II Ltd., and Caris Investment III Ltd. The filing explains that voting and investment power flows through Caris Investment Management, LLC and two family trusts, and that the percentage figures are calculated based on 281,224,124 shares outstanding as reflected in the issuer's report plus 218,794 shares issued to Mr. Halbert in settlement of a restricted stock unit.

Positive

• Aggregate beneficial ownership of 124,906,296 shares clearly disclosed
• Ownership percentage specified as 44.1% of common stock
• Detailed breakdown of sole versus shared voting and dispositive power, including 2,000,000 fully vested options
• Identification of affiliated holders (Caris Halbert, L.P.; ADAPT I Ltd.; Carisome I, L.P.; Caris Investment II Ltd.; Caris Investment III Ltd.) and governance roles (Caris Investment Management, LLC; family trusts)

Negative

• None.

Insights

Financial Analyst

TL;DR: Filing discloses concentrated ownership: Halbert-affiliated parties control 44.1% of Caris common stock.

The Schedule 13G reports that David D. Halbert directly owns 1,881,294 shares plus 2,000,000 fully vested options and, together with affiliated entities, beneficially owns a total of 124,906,296 shares or 44.1% of the class. The largest single affiliated holder is Caris Halbert, L.P., with 101,261,532 shares (36.0% reported for that entity). These figures are presented on a share-count basis using 281,224,124 shares outstanding plus 218,794 additional shares noted for a restricted stock settlement. For investors, the filing provides clarity on ownership scale and the legal vehicles through which voting and disposition power are held.

Corporate Governance Expert

TL;DR: Disclosure outlines control structure and delegated voting/investment power across Halbert entities.

The statement identifies the governance chain: Caris Investment Management, LLC is the general partner for multiple entities and two family trusts are the general partner or managing general partner of other entities, with Mr. Halbert as managing member or trustee. The filing discloses which shares are sole-held by Mr. Halbert and which are shared via the affiliated entities, and it enumerates voting and dispositive power counts. This record-level transparency is material for understanding who holds voting influence over the issuer but does not itself include any proposed corporate actions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Caris Life Sciences, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

142152107

(CUSIP Number)

06/30/2025

(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

David D. Halbert

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 3,881,294.00
6	Shared Voting Power 121,025,002.00
7	Sole Dispositive Power 3,881,294.00
8	Shared Dispositive Power 121,025,022.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

124,906,296.00

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)

44.1 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 142152107

1

Names of Reporting Persons

Caris Halbert, L.P.

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

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 101,261,532.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 101,261,532.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

101,261,532.00

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)

36.0 %

12

Type of Reporting Person (See Instructions)

PN

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, Texas, 75039
Item 2.
(a)	Name of person filing: David D. Halbert Caris Halbert, L.P., a Texas limited partnership
(b)	Address or principal business office or, if none, residence: 750 W John Carpenter Freeway, Suite 800, Irving, TX 75039
(c)	Citizenship: Mr. Halbert is a citizen of the United States of America. Caris Halbert, L.P. is formed as a Texas limited partnership.
(d)	Title of class of securities: Common Stock
(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: The Common Stock reported herein with sole beneficial ownership by Mr. Halbert includes 1,881,294 shares of Common Stock directly held by Mr. Halbert and options to purchase 2,000,000 shares of Common Stock that are fully vested and directly held by Mr. Halbert. The Common Stock reported herein with shared beneficial ownership includes (i) 101,261,532 shares of Common Stock held of record by Caris Halbert, L.P, (ii) 8,528,805 shares of Common Stock held of record by ADAPT I Ltd., (iii) 8,414,427 shares of Common Stock held of record by Carisome I, L.P., (iv) 645,149 shares of Common Stock held of record by Caris Investment II Ltd, and (v) 2,175,089 shares of Common Stock held of record by Caris Investment III Ltd. Caris Investment Management, LLC is the general partner of each of Caris Halbert, L.P., Caris Investment II Ltd., and Caris Investment III Ltd. Two family trusts are separately the general partner of ADAPT I Ltd. and the managing general partner of Carisome I, L.P., respectively. David D. Halbert is the managing member of Caris Investment Management, LLC and the trustee of each of the two family trusts, and in such capacities, has voting and investment power with respect to the shares held of record by each of the foregoing entities. The percentages of Common Stock reported herein are based upon 281,224,124 shares of Common Stock of the Issuer outstanding as of August 7, 2025, as reflected on the Issuer's current report on Form 10-Q, plus 218,794 shares of Common Stock issued to Mr. Halbert in respect of the settlement of a restricted stock unit subsequent to such date.
(b)	Percent of class: See Item 11 on each cover page.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 on each cover page.
	(ii) Shared power to vote or to direct the vote: See Item 6 on each cover page.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 on each cover page.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 on each cover page.
Item 5.	Ownership of 5 Percent or Less of a Class.
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.

David D. Halbert

Signature:	/s/ Luke Power
Name/Title:	Attorney-in-Fact
Date:	08/13/2025

Caris Halbert, L.P.

Signature:	/s/ Luke Power
Name/Title:	Attorney-in-Fact
Date:	08/13/2025

Exhibit Information

Exhibit 24.1-Power of Attorney Exhibit 99.1-Joint Filing Agreement

FAQ

Who filed the Schedule 13G for Caris Life Sciences (CAI)?

David D. Halbert and Caris Halbert, L.P. are the reporting persons identified in the filing.

How many shares does David D. Halbert beneficially own according to the filing?

124,906,296 shares in the aggregate, which the filing states represents 44.1% of the class.

What portion of the reported holdings are held by Caris Halbert, L.P. (CAI)?

101,261,532 shares are reported as held of record by Caris Halbert, L.P., equal to 36.0% of the class as shown on the cover page.

Does the filing disclose any options or other instruments?

Yes. The filing discloses that Mr. Halbert directly holds 2,000,000 fully vested options to purchase Common Stock.

On what share base are the percentage calculations made?

Percentages are based on 281,224,124 shares outstanding218,794 shares issued to Mr. Halbert in settlement of a restricted stock unit subsequent to that date.