# EDGAR Filing Document

**Accession Number:** 0001904404
**File Stem:** 0000905148-25-002039
**Filing Date:** 2025-6
**Character Count:** 14276
**Document Hash:** aeb1b50569d63011d3027d081224fc59
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000905148-25-002039.hdr.sgml**: 20250606

**ACCESSION NUMBER**: 0000905148-25-002039

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250604

**FILED AS OF DATE**: 20250606

**DATE AS OF CHANGE**: 20250606

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** ISQ Holdings, LLC
- **CENTRAL INDEX KEY:** 0001904413

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38048
- **FILM NUMBER:** 251032705

**BUSINESS ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
- **BUSINESS PHONE:** 786-693-5700

**MAIL ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** I Squared Capital, LLC
- **CENTRAL INDEX KEY:** 0001904404

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38048
- **FILM NUMBER:** 251032706

**BUSINESS ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
- **BUSINESS PHONE:** 786-693-5700

**MAIL ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Wahba Sadek
- **CENTRAL INDEX KEY:** 0002020905

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38048
- **FILM NUMBER:** 251032704

**MAIL ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** ISQ Global Fund II GP LLC
- **CENTRAL INDEX KEY:** 0001904934

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38048
- **FILM NUMBER:** 251032707

**BUSINESS ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
- **BUSINESS PHONE:** 786-693-5700

**MAIL ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Bhandari Gautam
- **CENTRAL INDEX KEY:** 0002020876

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38048
- **FILM NUMBER:** 251032703

**MAIL ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Kinetik Holdings Inc.
- **CENTRAL INDEX KEY:** 0001692787
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATURAL GAS TRANSMISSION [4922]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 814675947
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 2700 POST OAK BLVD.
- **STREET 2:** SUITE 300
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77056
- **BUSINESS PHONE:** 713-621-7330

**MAIL ADDRESS:**
- **STREET 1:** 2700 POST OAK BLVD.
- **STREET 2:** SUITE 300
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77056

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Altus Midstream Co
- **DATE OF NAME CHANGE:** 20181113

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Kayne Anderson Acquisition Corp
- **DATE OF NAME CHANGE:** 20161220

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>ISQ Global Fund II GP LLC<br><sub>(Last) (First) (Middle)</sub><br>600 BRICKELL AVENUE<br>PENTHOUSE<br><sub>(Street)</sub><br>MIAMI, FL 33131-3067<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-04 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Kinetik Holdings Inc. [ KNTK ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>I Squared Capital, LLC<br><sub>(Last) (First) (Middle)</sub><br>600 BRICKELL AVENUE<br>PENTHOUSE<br><sub>(Street)</sub><br>MIAMI, FL 33131-3067<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-04 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Kinetik Holdings Inc. [ KNTK ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>ISQ Holdings, LLC<br><sub>(Last) (First) (Middle)</sub><br>600 BRICKELL AVENUE<br>PENTHOUSE<br><sub>(Street)</sub><br>MIAMI, FL 33131-3067<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-04 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Kinetik Holdings Inc. [ KNTK ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Wahba Sadek<br><sub>(Last) (First) (Middle)</sub><br>600 BRICKELL AVENUE<br>PENTHOUSE<br><sub>(Street)</sub><br>MIAMI, FL 33131-3067<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-04 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Kinetik Holdings Inc. [ KNTK ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Bhandari Gautam<br><sub>(Last) (First) (Middle)</sub><br>600 BRICKELL AVENUE<br>PENTHOUSE<br><sub>(Street)</sub><br>MIAMI, FL 33131-3067<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-04 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Kinetik Holdings Inc. [ KNTK ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2025-06-04 |  | C |  | 4262090 | A | <sup>(1)(2)</sup> | 4262091 | I | See Explanation of Responses<sup>(3)</sup> |
| Class A Common Stock | 2025-06-04 |  | S |  | 4262090 | D | $44.16 | 1 | I | See Explanation of Responses<sup>(3)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Kinetik Holdings Units | <sup>(1)(2)</sup> | 2025-06-04 |  | C |  |  | 4262090 | <sup>(1)(2)</sup> | <sup>(1)(2)</sup> | Class A Common Stock | 4262090 | $0 | 22569492 | D |  |

---

### Footnotes:

(1) Securities issued pursuant to and in connection with a contribution agreement (the "Contribution Agreement"), dated October 21, 2021, by and among Kinetik Holdings Inc., a Delaware corporation (f/k/a Altus Midstream Company, the "Issuer"), Kinetik Holdings LP, a Delaware limited partnership (f/k/a Altus Midstream LP, the "Partnership"), BCP Raptor Holdco, LP, a Delaware limited partnership, and New BCP Raptor Holdco, LLC, a Delaware limited liability company.

(2) The term "Kinetik Holdings Units" is used herein to represent common units representing limited partnership interests in the Partnership ("Partnership Common Units") and an equal number of paired shares of Class C Common Stock of the Issuer. The terms of the Third Amended and Restated Agreement of Limited Partnership of the Partnership provide that each holder of Partnership Common Units (other than the Issuer) generally has the right to cause the Partnership to redeem all or a portion of its Partnership Common Units (the "Redemption Right") in exchange for shares of Class A Common Stock of the Issuer or, at the Partnership's election, an equivalent amount of cash. In connection with any redemption of Partnership Common Units pursuant to the Redemption Right, the corresponding number of shares of the Class C Common Stock will be cancelled. The Partnership Common Units and the right to exercise the Redemption Right have no expiration date.

(3) The securities are directly held by Buzzard Midstream LLC. ISQ Global Fund II GP, LLC ("Fund II GP") is the general partner of the members of the indirect owners of Buzzard Midstream LLC and, in such capacity, exercises voting and investment power over the securities directly held by Buzzard Midstream LLC. I Squared Capital, LLC ("I Squared Capital") is the sole member of Fund II GP. ISQ Holdings, LLC ("ISQ Holdings") is the managing member of I Squared Capital. Each of Sadek Wahba and Gautam Bhandari is a member of ISQ Holdings and disclaims beneficial ownership over the securities reported herein except to the extent of his pecuniary interest therein.

**Signature:** ISQ Global Fund II GP, LLC, By: /s/ Gautam Bhandari, Director  
**Date:** 2025-06-06

**Signature:** I Squared Capital, LLC, By: ISQ Holdings, LLC, its managing member, By: /s/ Gautam Bhandari, Manager  
**Date:** 2025-06-06

**Signature:** ISQ Holdings, LLC, By: /s/ Gautam Bhandari, Manager  
**Date:** 2025-06-06

**Signature:** /s/ Sadek Wahba  
**Date:** 2025-06-06

**Signature:** /s/ Gautam Bhandari  
**Date:** 2025-06-06

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**