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Column Group funds sell Tenaya (TNYA) shares but still hold about 25%

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

The Column Group–affiliated funds filed Amendment No. 6 to their Schedule 13D on Tenaya Therapeutics, Inc. common stock. The filing updates ownership and reports that venture funds TCG III LP and TCG III-A LP sold shares on February 10–11, 2026 at weighted-average prices of $0.8161 and $0.6808 per share.

After these sales, various Column Group entities report beneficial ownership of up to 54,313,559 shares each for Tim Kutzkey and Peter Svennilson, representing 25.4% of Tenaya’s common stock, based on 213,744,535 shares outstanding as of December 15, 2025. The filing also notes excluded warrants to purchase 53,571,426 additional shares that are not exercisable within 60 days due to Beneficial Ownership Limitations.

Positive

  • None.

Negative

  • None.

Insights

Major shareholder reports sizeable sales but remains a 25.4% holder.

Column Group–related entities disclose updated positions in Tenaya Therapeutics. TCG III LP and TCG III-A LP sold blocks of stock on February 10–11, 2026 at weighted-average prices of $0.8161 and $0.6808 per share, for several million shares in total.

After these transactions, Tim Kutzkey and Peter Svennilson each report beneficial ownership of 54,313,559 shares, or 25.4% of Tenaya’s common stock, based on 213,744,535 shares outstanding as of December 15, 2025. A separate Column Group opportunity fund holds 49,313,559 shares, or 23.1%.

The filing also highlights warrants to purchase 53,571,426 additional shares held by a Column Group opportunity fund that are currently blocked by Beneficial Ownership Limitations and therefore excluded from beneficial ownership. Future portfolio decisions by these funds will appear in subsequent ownership updates rather than being outlined here.






If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).






SCHEDULE 13D




Comment for Type of Reporting Person:
All such shares are held of record by TCG III LP (as defined in Item 2(a) of the Original Schedule 13D). TCG III GP LP (as defined in Item 2(a) of the Original Schedule 13D) is the general partner of TCG III LP and may be deemed to have voting, investment and dispositive power with respect to these securities. Peter Svennilson and Tim Kutzkey are the managing partners of TCG III GP LP and may each be deemed to share voting, investment and dispositive power with respect to these securities. Based on 213,744,535 shares of Common Stock outstanding as of December 15, 2025, as reported by the Issuer in its prospectus supplement filed pursuant to Rule 424(b)(5) with the Securities and Exchange Commission (the Commission) on December 12, 2025 (the Prospectus).


SCHEDULE 13D




Comment for Type of Reporting Person:
All such shares are held of record by TCG III-A LP (as defined in Item 2(a) of the Original Schedule 13D). TCG III GP LP is the general partner of TCG III-A LP and may be deemed to have voting, investment and dispositive power with respect to these securities. Peter Svennilson and Tim Kutzkey are the managing partners of TCG III GP LP and may each be deemed to share voting, investment and dispositive power with respect to these securities. Based on 213,744,535 shares of Common Stock outstanding as of December 15, 2025, as reported by the Issuer in the Prospectus.


SCHEDULE 13D




Comment for Type of Reporting Person:
Consists of (i) 2,348,183 shares held of record by TCG III LP and (ii) 2,651,817 shares held of record by TCG III-A LP. TCG III GP LP is the general partner of each of TCG III LP and TCG III-A LP and may be deemed to have voting, investment and dispositive power with respect to these securities. Peter Svennilson and Tim Kutzkey are the managing partners of TCG III GP LP and may each be deemed to share voting, investment and dispositive power with respect to these securities. Based on 213,744,535 shares of Common Stock outstanding as of December 15, 2025, as reported by the Issuer in the Prospectus.


SCHEDULE 13D




Comment for Type of Reporting Person:
All such shares are held of record by TCG Opportunity III LP (as defined in Item 2(a) of the Original Schedule 13D). TCG Opportunity III GP LP (as defined in Item 2(a) of the Original Schedule 13D) is the general partner of TCG Opportunity III LP and may be deemed to have voting, investment and dispositive power with respect to these securities. TCG Opportunity III GP LLC (as defined in Item 2(a) of the Original Schedule 13D) is the general partner of TCG Opportunity III GP LP and the ultimate general partner of TCG Opportunity III LP and may be deemed to have voting, investment and dispositive power with respect to these securities. Peter Svennilson and Tim Kutzkey are the managing members of TCG Opportunity III GP LLC and may each be deemed to share voting, investment and dispositive power with respect to these securities. Excludes warrants to purchase 53,571,426 shares of Common Stock held by TCG Opportunity III LP which are not exercisable within 60 days of this Statement due to the Beneficial Ownership Limitations (as defined in Item 6). Based on 213,744,535 shares of Common Stock outstanding as of December 15, 2025, as reported by the Issuer in the Prospectus.


SCHEDULE 13D




Comment for Type of Reporting Person:
All such shares are held of record by TCG Opportunity III LP. TCG Opportunity III GP LP is the general partner of TCG Opportunity III LP and may be deemed to have voting, investment and dispositive power with respect to these securities. TCG Opportunity III GP LLC is the general partner of TCG Opportunity III GP LP and the ultimate general partner of TCG Opportunity III LP and may be deemed to have voting, investment and dispositive power with respect to these securities. Peter Svennilson and Tim Kutzkey are the managing members of TCG Opportunity III GP LLC and may each be deemed to share voting, investment and dispositive power with respect to these securities. Excludes warrants to purchase 53,571,426 shares of Common Stock held by TCG Opportunity III LP which are not exercisable within 60 days of this Statement due to the Beneficial Ownership Limitations. Based on 213,744,535 shares of Common Stock outstanding as of December 15, 2025, as reported by the Issuer in the Prospectus.


SCHEDULE 13D




Comment for Type of Reporting Person:
All such shares are held of record by TCG Opportunity III LP. TCG Opportunity III GP LP is the general partner of TCG Opportunity III LP and may be deemed to have voting, investment and dispositive power with respect to these securities. TCG Opportunity III GP LLC is the general partner of TCG Opportunity III GP LP and the ultimate general partner of TCG Opportunity III LP and may be deemed to have voting, investment and dispositive power with respect to these securities. Peter Svennilson and Tim Kutzkey are the managing members of TCG Opportunity III GP LLC and may each be deemed to share voting, investment and dispositive power with respect to these securities. Excludes warrants to purchase 53,571,426 shares of Common Stock held by TCG Opportunity III LP which are not exercisable within 60 days of this Statement due to the Beneficial Ownership Limitations. Based on 213,744,535 shares of Common Stock outstanding as of December 15, 2025, as reported by the Issuer in the Prospectus.


SCHEDULE 13D




Comment for Type of Reporting Person:
Consists of (i) 2,348,183 shares of Common Stock held of record by TCG III LP, (ii) 2,651,817 shares of Common Stock held of record by TCG III-A LP and (iii) 49,313,559 shares of Common Stock held of record by TCG Opportunity III LP. TCG III GP LP is the general partner of each of TCG III LP and TCG III-A LP and may be deemed to have voting, investment and dispositive power with respect to these securities. TCG Opportunity III GP LP is the general partner of TCG Opportunity III LP and may be deemed to have voting, investment and dispositive power with respect to the securities held by TCG Opportunity III LP. TCG Opportunity III GP LLC is the general partner of TCG Opportunity III GP LP and the ultimate general partner of TCG Opportunity III LP and may be deemed to have voting, investment and dispositive power with respect to the securities held by TCG Opportunity III LP. Peter Svennilson and Tim Kutzkey are the managing partners of TCG III GP LP and the managing members of TCG Opportunity III GP LLC and may each be deemed to share voting, investment and dispositive power with respect to these securities. Excludes warrants to purchase 53,571,426 shares of Common Stock held by TCG Opportunity III LP which are not exercisable within 60 days of this Statement due to the Beneficial Ownership Limitations. Based on 213,744,535 shares of Common Stock outstanding as of December 15, 2025, as reported by the Issuer in the Prospectus.


SCHEDULE 13D




Comment for Type of Reporting Person:
Consists of (i) 2,348,183 shares of Common Stock held of record by TCG III LP, (ii) 2,651,817 shares of Common Stock held of record by TCG III-A LP and (iii) 49,313,559 shares of Common Stock held of record by TCG Opportunity III LP. TCG III GP LP is the general partner of each of TCG III LP and TCG III-A LP and may be deemed to have voting, investment and dispositive power with respect to these securities. TCG Opportunity III GP LP is the general partner of TCG Opportunity III LP and may be deemed to have voting, investment and dispositive power with respect to the securities held by TCG Opportunity III LP. TCG Opportunity III GP LLC is the general partner of TCG Opportunity III GP LP and the ultimate general partner of TCG Opportunity III LP and may be deemed to have voting, investment and dispositive power with respect to the securities held by TCG Opportunity III LP. Peter Svennilson and Tim Kutzkey are the managing partners of TCG III GP LP and the managing members of TCG Opportunity III GP LLC and may each be deemed to share voting, investment and dispositive power with respect to these securities. Excludes warrants to purchase 53,571,426 shares of Common Stock held by TCG Opportunity III LP which are not exercisable within 60 days of this Statement due to the Beneficial Ownership Limitations. Based on 213,744,535 shares of Common Stock outstanding as of December 15, 2025, as reported by the Issuer in the Prospectus.


SCHEDULE 13D


The Column Group III, LP
Signature:/s/ James Evangelista, Attorney in Fact
Name/Title:James Evangelista, Attorney in Fact
Date:02/12/2026
The Column Group III-A, LP
Signature:/s/ James Evangelista, Attorney in Fact
Name/Title:James Evangelista, Attorney in Fact
Date:02/12/2026
The Column Group III GP, LP
Signature:/s/ James Evangelista, Attorney in Fact
Name/Title:James Evangelista, Attorney in Fact
Date:02/12/2026
The Column Group Opportunity III, LP
Signature:/s/ James Evangelista, Attorney in Fact
Name/Title:James Evangelista, Attorney in Fact
Date:02/12/2026
The Column Group Opportunity III GP, LP
Signature:/s/ James Evangelista, Attorney in Fact
Name/Title:James Evangelista, Attorney in Fact
Date:02/12/2026
TCG Opportunity III GP, LLC
Signature:/s/ James Evangelista, Attorney in Fact
Name/Title:James Evangelista, Attorney in Fact
Date:02/12/2026
Tim Kutzkey
Signature:/s/ James Evangelista
Name/Title:James Evangelista, Attorney-in-Fact
Date:02/12/2026
Peter Svennilson
Signature:/s/ James Evangelista
Name/Title:James Evangelista, Attorney-in-Fact
Date:02/12/2026

FAQ

What does Tenaya Therapeutics (TNYA) Amendment No. 6 to Schedule 13D report?

Amendment No. 6 updates Column Group entities’ ownership and recent share sales in Tenaya Therapeutics. It details February 2026 stock sales by TCG III LP and TCG III-A LP and refreshes the reported beneficial ownership percentages for several related funds and individuals.

How many Tenaya Therapeutics (TNYA) shares do Column Group entities now beneficially own?

Certain Column Group entities report beneficial ownership of up to 54,313,559 Tenaya shares each for two principals. Tim Kutzkey and Peter Svennilson each report 54,313,559 shares, representing 25.4% of the company’s common stock, based on 213,744,535 shares outstanding as of December 15, 2025.

What Tenaya Therapeutics (TNYA) share sales are disclosed in this Schedule 13D/A amendment?

The amendment discloses February 10–11, 2026 sales by TCG III LP and TCG III-A LP. They sold blocks of common stock at weighted-average prices of $0.8161 and $0.6808 per share, with aggregate sale proceeds of approximately $0.13 million, $0.15 million, $1.3 million and $1.46 million.

What percentage of Tenaya Therapeutics (TNYA) does The Column Group Opportunity III LP report owning?

The Column Group Opportunity III LP reports owning 49,313,559 Tenaya shares. This position represents 23.1% of the company’s common stock, calculated using 213,744,535 shares outstanding as of December 15, 2025, as stated in Tenaya’s referenced prospectus.

Are there additional Tenaya Therapeutics (TNYA) warrants held by Column Group entities?

A Column Group opportunity fund holds warrants to purchase 53,571,426 Tenaya shares. These warrants are excluded from current beneficial ownership because they are not exercisable within 60 days of the statement due to specified Beneficial Ownership Limitations described in the filing.

Why were Tim Kutzkey and Peter Svennilson added as reporting persons for Tenaya Therapeutics (TNYA)?

They were added due to a change in management roles at Column Group general partners. The amendment explains that their inclusion as reporting persons follows the retirement of a managing partner and managing member at key general partner entities overseeing the investment funds.
Tenaya Therapeutics, Inc.

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TNYA Stock Data

142.89M
214.85M
0.7%
22.21%
8.55%
Biotechnology
Biological Products, (no Diagnostic Substances)
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United States
SOUTH SAN FRANCISCO