[SCHEDULE 13G] Ares Acquisition Corp II SEC Filing

Rhea-AI Filing Summary

Kodiak AI, Inc. Schedule 13G reports that multiple affiliated investment vehicles and related individuals hold disclosed stakes in the company based on 174,957,392 shares outstanding as of September 24, 2025. The filing lists specific beneficial ownership: SIP Global Opportunity Manager LLC reports 9,552,270 shares (5.5%); SIP Global Tech Opportunity 4 LLC reports 6,979,874 shares (4.0%); SIP Global Tech Fund I, L.P. reports 2,990,929 shares (1.7%); SIP Global Tech Opportunity LLC and SIP Global Tech Opportunity 3 LLC report 1,454,910 (0.8%) and 1,117,486 (0.6%), respectively.

Two individuals, Shigeki Saitoh and Justin Turkat, are listed with shared voting and dispositive power over 12,543,199 shares (7.2%) each where applicable; other named individuals include Jeffrey Smith and Matthew Salloway. The filing states the Reporting Persons disclaim status as a “group” and includes a certification that the holdings were not acquired to change or influence control of the issuer. A Joint Filing Agreement is included as Exhibit 99.1.

Positive

• Transparent disclosure of specific share counts and percentages across each reporting person
• Includes aggregate basis (174,957,392 shares outstanding) used to calculate percentages
• Explicit disclaimer that the Reporting Persons are not acting as a group and Item 10 certification present

Negative

• No transaction timing or acquisition details are provided to show when holdings were accumulated
• Shared voting/dispositive power across affiliated entities and individuals could imply coordinated influence despite the disclaimer

Insights

Securities Analyst

TL;DR: Multiple affiliated funds and individuals disclose coordinated, material stakes in Kodiak AI totalling up to 7.2% for certain persons.

The Schedule 13G provides a clear map of beneficial ownership across related SIP entities and named individuals, anchored to 174,957,392 shares outstanding. Key figures include 9.55M shares (5.5%) held via SIP Global Opportunity Manager and 12.54M shares (7.2%) reported for certain individuals with shared power. The filing expressly disclaims a "group" and contains the standard certification that holdings are not for control purposes. For investors, these are material ownership disclosures showing concentrated positions by investment vehicles and principals, but the filing contains no transaction details, timing of acquisitions, or changes in ownership trends.

Corporate Governance Expert

TL;DR: Ownership structure shows delegated voting/dispositive power across fund vehicles and managers, with governance implications but no control claim.

The report documents shared voting and dispositive power among fund general partners, managers, and named individuals rather than sole control. SIP GTF I GP, SIP GO Mgr and specific directors/managing members are identified as sharing authority over fund-held shares. The filing’s explicit disclaimer of a "group" and the Item 10 certification reduce, but do not eliminate, governance scrutiny—investors should note the concentration levels (up to 7.2%) and the potential for coordinated voting given overlapping roles, although no intent to influence control is asserted in this statement.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

KODIAK AI, INC.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

500081104

(CUSIP Number)

09/24/2025

(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. 500081104

1

Names of Reporting Persons

SIP Global Tech Fund I, 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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,990,929.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,990,929.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,990,929.00

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)

1.7 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 500081104

1

Names of Reporting Persons

SIP Global Tech Fund I, Inc.

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,990,929.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,990,929.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,990,929.00

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)

1.7 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 500081104

1

Names of Reporting Persons

SIP Global Tech Opportunity 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 1,454,910.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,454,910.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,454,910.00

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)

0.8 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 500081104

1

Names of Reporting Persons

SIP Global Tech Opportunity 3 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 1,117,486.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,117,486.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,117,486.00

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)

0.6 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 500081104

1

Names of Reporting Persons

SIP Global Tech Opportunity 4 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 6,979,874.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,979,874.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,979,874.00

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)

4.0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 500081104

1

Names of Reporting Persons

SIP Global Opportunity Manager 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 9,552,270.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,552,270.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,552,270.00

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)

5.5 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 500081104

1

Names of Reporting Persons

Shigeki Saitoh

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

JAPAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,543,199.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,543,199.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,543,199.00

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)

7.2 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 500081104

1

Names of Reporting Persons

Matthew Salloway

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 9,552,270.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,552,270.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,552,270.00

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)

5.5 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 500081104

1

Names of Reporting Persons

Jeffrey Smith

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 2,990,929.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,990,929.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,990,929.00

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)

1.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 500081104

1

Names of Reporting Persons

Justin Turkat

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 12,543,199.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,543,199.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,543,199.00

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)

7.2 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: KODIAK AI, INC.
(b)	Address of issuer's principal executive offices: 1049 Terra Bella Avenue, Mountain View, CA, 94043.
Item 2.
(a)	Name of person filing: The names of the persons filing this report (collectively, the "Reporting Persons") are: SIP Global Tech Fund I, L.P. ("SIP GTF I") SIP Global Tech Fund I, Inc. ("SIP GTF I GP") SIP Global Tech Opportunity LLC ("SIP GTO") SIP Global Tech Opportunity 3 LLC ("SIP GTO 3") SIP Global Tech Opportunity 4 LLC ("SIP GTO 4") SIP Global Opportunity Manager LLC ("SIP GO Mgr") Shigeki Saitoh ("Saitoh") Matthew Salloway ("Salloway") Jeffrey Smith ("Smith") Justin Turkat ("Turkat") The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G.
(b)	Address or principal business office or, if none, residence: SIP GTF I and SIP GTF I GP C/O Conyers Trust Company (Cayman) Limited Cricket Square, Hutchins Dr., P.O. Box 2681 George Town, Grand Cayman KY1-1111 Cayman Islands SIP GTO, SIP GTO 3, SIP GTO 4, SIP GO Mgr, Saitoh, Salloway, Smith and Turkat 16192 Coastal Hwy Lewes, DE 19958
(c)	Citizenship: SIP GTF I Cayman Islands SIP GTF I GP Cayman Islands SIP GTO Delaware SIP GTO 3 Delaware SIP GTO 4 Delaware SIP GO Mgr Delaware Saitoh Japan Salloway United States Smith United States Turkat United States
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 500081104
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: Row 9 of each Reporting Person's cover page to this Schedule 13G sets forth the aggregate number of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference. The Reporting Persons' ownership of the Issuer's securities consists of (i) 2,990,929 shares of the Issuer's common stock directly held by SIP GTF I; (ii) 1,454,910 shares of the Issuer's common stock directly held by SIP GTO; (iii) 1,117,486 shares of the Issuer's common stock directly held by SIP GTO 3; and (iv) 6,979,874 shares of the Issuer's common stock directly held by SIP GTO 4. SIP GTF I GP is the general partner of SIP GTF I and Smith, Turkat, and Saitoh are directors of SIP GTF I GP. Each of SIP GTF I GP, Smith, Turkat and Saitoh may be deemed to share voting and dispositive power with respect to the shares held by SIP GTF I. SIP GO Mgr is the manager of each of SIP GTO, SIP GTO 3 and SIP GTO 4. Salloway, Turkat and Saitoh are managing members of SIP GO Mgr. Each of SIP GO Mgr, Salloway, Turkat and Saitoh may be deemed to share voting and dispositive power with respect to the shares held by each of SIP GTO, SIP GTO 3 and SIP GTO 4.
(b)	Percent of class: Row 11 of each Reporting Person's cover page to this Schedule 13G sets forth the percentages of the common stock of the Issuer beneficially owned by such Reporting Person and is incorporated by reference. The percentage set forth in each row 11 is based upon upon 174,957,392 shares of common stock outstanding as of September 24, 2025, as reported by the Issuer to the Reporting Persons.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Row 5 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
	(ii) Shared power to vote or to direct the vote: Row 6 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
	(iii) Sole power to dispose or to direct the disposition of: Row 7 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
	(iv) Shared power to dispose or to direct the disposition of: Row 8 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
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:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

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.

SIP Global Tech Fund I, L.P.

Signature:	/s/ Jeffrey Smith
Name/Title:	By SIP Global Tech Fund I, Inc., its General Partner, By Jeffrey Smith, Director
Date:	09/30/2025

SIP Global Tech Fund I, Inc.

Signature:	/s/ Jeffrey Smith
Name/Title:	By Jeffrey Smith, Director
Date:	09/30/2025

SIP Global Tech Opportunity LLC

Signature:	/s/ Matthew Salloway
Name/Title:	By SIP Global Opportunity Manager LLC., its Manager, By Matthew Salloway, Managing Member
Date:	09/30/2025

SIP Global Tech Opportunity 3 LLC

Signature:	/s/ Matthew Salloway
Name/Title:	By SIP Global Opportunity Manager LLC., its Manager, By Matthew Salloway, Managing Member
Date:	09/30/2025

SIP Global Tech Opportunity 4 LLC

Signature:	/s/ Matthew Salloway
Name/Title:	By SIP Global Opportunity Manager LLC., its Manager, By Matthew Salloway, Managing Member
Date:	09/30/2025

SIP Global Opportunity Manager LLC.

Signature:	/s/ Matthew Salloway
Name/Title:	By Matthew Salloway, Managing Member
Date:	09/30/2025

Shigeki Saitoh

Signature:	/s/ Shigeki Saitoh
Name/Title:	Shigeki Saitoh
Date:	09/30/2025

Matthew Salloway

Signature:	/s/ Matthew Salloway
Name/Title:	Matthew Salloway
Date:	09/30/2025

Jeffrey Smith

Signature:	/s/ Jeffrey Smith
Name/Title:	Jeffrey Smith
Date:	09/30/2025

Justin Turkat

Signature:	/s/ Justin Turkat
Name/Title:	Justin Turkat
Date:	09/30/2025

Exhibit Information

Exhibit 99.1 Joint Filing Agreement

FAQ

What stake does SIP Global Opportunity Manager LLC hold in Kodiak AI (CUSIP 500081104)?

The filing reports 9,552,270 shares (5.5%) beneficially owned by SIP Global Opportunity Manager LLC.

Who are the individuals named in the Kodiak AI Schedule 13G?

Named individuals are Shigeki Saitoh, Matthew Salloway, Jeffrey Smith, and Justin Turkat, each listed with shared voting/dispositive power where indicated.

What percentage of Kodiak AI does 12,543,199 shares represent?

According to the filing, 12,543,199 shares represent 7.2% of Kodiak AI's common stock based on 174,957,392 shares outstanding.

Does the filing state the Reporting Persons intend to influence control of Kodiak AI?

No; the filing includes a certification stating the securities were not acquired and are not held to change or influence control of the issuer.

Is there an agreement among the filers to file jointly?

Yes; the filing includes a Joint Filing Agreement as Exhibit 99.1 and the report is executed by the named entities and individuals.