GSAM Files Schedule 13G Reporting 4.615M Kinetik Shares (~7.6%)

Rhea-AI Filing Summary

Goldman Sachs Asset Management, L.P. reports beneficial ownership of 4,615,445.10 shares of Kinetik Holdings Inc. Class A common stock, representing 7.6% of the class. The filing shows no sole voting or dispositive power; all voting (4,543,185.10 shares) and dispositive (4,615,445.10 shares) powers are shared.

The filer is identified as an investment adviser (IA) and certifies the position is held in the ordinary course of business and not to influence control. A joint filing agreement (Exhibit 99.1) accompanies the statement, authorizing joint filing and amendments.

Positive

• Material institutional stake disclosed: GSAM beneficially owns 4,615,445.10 shares (~7.6%), exceeding the 5% reporting threshold
• Transparent reporting: Joint filing agreement (Exhibit 99.1) and certification clarify holding purpose and coordinated filing

Negative

• No sole voting or dispositive power: GSAM reports 0 sole voting and 0 sole dispositive power, limiting unilateral control

Insights

Institutional Securities Analyst

TL;DR: GSAM disclosed a notable 7.6% passive stake in Kinetik, with all voting and disposition powers held jointly, not unilaterally.

The Schedule 13G shows Goldman Sachs Asset Management, L.P. beneficially owns 4,615,445.10 Class A shares (7.6%). Key details: sole voting and dispositive powers are zero; shared voting power is 4,543,185.10 and shared dispositive power equals the aggregate ownership. The filer is classified as an investment adviser and certifies the holdings are in the ordinary course of business and not for changing control. This disclosure signals a material institutional stake without asserted intent to exert control.

Corporate Governance Specialist

TL;DR: A material >5% institutional position disclosed; governance influence appears limited given absence of sole control.

The filing documents a material ownership level above the 5% threshold, triggering Schedule 13G reporting. All voting and disposition authority is shared rather than sole, and the certification states the position is not intended to affect control. The inclusion of a joint filing agreement confirms coordinated reporting responsibilities among parties. For governance analysis, the position merits monitoring but the filing itself does not assert activist intent or unilateral control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

KINETIK HOLDINGS INC.

(Name of Issuer)

Class A common stock, par value $0.0001 per share

(Title of Class of Securities)

02215L209

(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. 02215L209

1

Names of Reporting Persons

Goldman Sachs Asset Management, 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,543,185.10
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,615,445.10

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,615,445.10

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)

7.6 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: KINETIK HOLDINGS INC.
(b)	Address of issuer's principal executive offices: 2700 Post Oak Blvd. Suite 300, Houston, X1, 77056
Item 2.
(a)	Name of person filing: GOLDMAN SACHS ASSET MANAGEMENT
(b)	Address or principal business office or, if none, residence: Goldman Sachs Asset Management 200 West Street New York, NY 10282
(c)	Citizenship: GOLDMAN SACHS ASSET MANAGEMENT, L.P. - Delaware
(d)	Title of class of securities: Class A common stock, par value $0.0001 per share
(e)	CUSIP No.: 02215L209
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: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: See the response(s)to Item 11 on the attached cover page(s).
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
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 acquired and are held in the ordinary course of business and 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.

Goldman Sachs Asset Management, L.P.

Signature:	Name: AMEEN SOETAN
Name/Title:	Attorney-in-fact
Date:	07/17/2025

Exhibit Information

EXHIBIT (99.1) JOINT FILING AGREEMENT In accordance with Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, the undersigned agree to the joint filing of a Statement on Schedule 13G (including any and all amendments thereto) with respect to the Class A common stock, par value $0.0001 per share, of KINETIK HOLDINGS INC. and further agree to the filing of this agreement as an Exhibit thereto. In addition, each party to this Agreement expressly authorizes each other party to this Agreement to file on its behalf any and all amendments to such Statement on Schedule 13G. Date: 07/17/2025 GOLDMAN SACHS ASSET MANAGEMENT, L.P. By:/s/ AMEEN SOETAN ---------------------------------------- Name: AMEEN SOETAN Title: Attorney-in-fact

FAQ

How many KNTK shares does Goldman Sachs Asset Management hold?

4,615,445.10 shares, representing 7.6% of the Class A common stock.

Does Goldman Sachs Asset Management have sole voting power over KNTK shares?

No. Sole voting power is reported as 0; shared voting power is 4,543,185.10 shares.

What type of SEC form was filed for KNTK?

Schedule 13G, the form used for certain passive institutional holdings disclosures.

How does Goldman Sachs classify itself in the filing?

The reporting person is classified as an investment adviser (IA).

Is there a joint filing agreement accompanying the KNTK 13G?

Yes. Exhibit 99.1 is a joint filing agreement authorizing joint filing and amendments.