SCHEDULE: Major Holders Exit Caris Life Sciences Stake

TSSP Sub-Fund HoldCo, LLC and Alan Waxman have filed an exit statement, indicating they no longer beneficially own more than five percent of Caris Life Sciences' common stock.

Summary

• TSSP Sub-Fund HoldCo, LLC and Alan Waxman have jointly filed an amendment to their Schedule 13G, marking their exit as significant beneficial owners of Caris Life Sciences, Inc.
• As of June 30, 2026, these entities no longer hold more than 5% of the company's common stock.
• This filing is an 'exit filing', signifying a reduction in their stake below the reporting threshold.
• The filing details the complex ownership structure through various LLCs and management entities, with Alan Waxman identified as the ultimate manager of Sub-Fund HoldCo.
• The total outstanding shares of common stock as of May 5, 2026, were 282,680,695.

Sentiment

Score: 2

Explanation: StockSavvy.ai views this as a negative development, as it indicates a significant reduction in beneficial ownership by major holders, suggesting a potential lack of confidence or a strategic shift away from the company.

Negatives

• Significant holders, TSSP Sub-Fund HoldCo, LLC and Alan Waxman, have reduced their beneficial ownership below the 5% threshold.
• This exit filing suggests a divestment or substantial reduction in their investment in Caris Life Sciences.

Risks

• The reduction in ownership by significant holders could signal a lack of confidence in the company's future prospects.
• A substantial sell-off by these entities could put downward pressure on the stock price.

Future Outlook

The filing itself does not provide forward-looking statements or guidance from Caris Life Sciences. It solely reports on the change in beneficial ownership by TSSP Sub-Fund HoldCo, LLC and Alan Waxman.

Management Comments

• 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.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are typically made by institutional investors and significant shareholders to report their ownership stakes. An exit filing like this, especially by entities associated with Sixth Street Partners, can be interpreted as a signal regarding the investor's perception of the company's valuation or future growth prospects within the life sciences sector.

Stakeholder Impact

• Shareholders may view this exit as a negative signal, potentially impacting share price due to reduced institutional support.
• The market may interpret this as a sign of reduced confidence from significant investors.

Next Steps

• The Reporting Persons have completed their disclosure obligation for this ownership level.
• Further filings would be required if their beneficial ownership increases again to a reportable level.

Key Dates

Recommendation

While the exit of significant holders is a negative signal, the filing itself is a disclosure of reduced ownership rather than a direct negative event. Without further information on the reasons for the divestment or the company's performance, a 'hold' recommendation is prudent, advising investors to monitor the situation for further developments or clarification.

Keywords

Caris Life Sciences, Schedule 13G, TSSP Sub-Fund HoldCo, Alan Waxman, Beneficial Ownership, Exit Filing, Common Stock, Ownership Reduction