Sirenia Capital Management and Alex Silverstein reported beneficial ownership of 3,495,000 shares of Kodiak Sciences Inc. Common Stock, representing 5.7% of the class. The percentage is calculated using 61,847,870 shares outstanding as of March 19, 2026, per the company's Form 10-K. The filing states the shares are held by SILV Fund, Ltd., managed by Sirenia; Sirenia and Mr. Silverstein filed jointly under Rule 13d-1(k).
The cover page shows shared voting and dispositive power over the 3,495,000 shares. Signatures are dated May 15, 2026.
Positive
None.
Negative
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Insights
Sirenia discloses a notable passive stake in Kodiak Sciences at 5.7%.
The filing lists 3,495,000 shares held by SILV Fund, Ltd., representing 5.7% of the outstanding common stock using the March 19, 2026 share count of 61,847,870. The filing is made on behalf of Sirenia and Alex Silverstein under Rule 13d-1(k).
Ownership is reported as subject to shared voting and dispositive power. Future disclosures or amendments could change the stake or voting arrangements; subsequent filings would show any directional trading or changes.
Report highlights shared control and fund-based ownership rather than direct individual ownership.
The statement attributes the 3,495,000 shares to SILV Fund, Ltd., an investment vehicle managed by Sirenia; Mr. Silverstein is identified as managing member and co-filer. The filing includes a Joint Filing Agreement (Exhibit 99.1).
Because the cover page shows shared voting/dispositive power, the filing indicates coordinated reporting rather than sole individual control. Any changes in voting authority or beneficiary structure would appear in later amendments.
Key Figures
Beneficial ownership:3,495,000 sharesPercent of class:5.7%Shares outstanding:61,847,870 shares+2 more
5 metrics
Beneficial ownership3,495,000 sharesHeld by SILV Fund, Ltd.; reported on Schedule 13G
Percent of class5.7%Calculated using 61,847,870 shares outstanding as of March 19, 2026
Shares outstanding61,847,870 sharesOutstanding common stock as of March 19, 2026 (source: Form 10-K)
CUSIP50015M109Kodiak Sciences Inc. Common Stock identifier
Filing signature dateMay 15, 2026Signatures from Sirenia and Alex Silverstein on the Schedule 13G
"This statement is filed by: (i) Sirenia Capital Management LP... filed jointly in accordance with the provisions of Rule 13d-1(k)"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
Shared Dispositive Powerregulatory
"Shared Dispositive Power 3,495,000.00"
Beneficially Ownedfinancial
"Amount beneficially owned: The information required by Item 4(a) is set forth in Row 9"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Kodiak Sciences Inc.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
50015M109
(CUSIP Number)
03/31/2026
(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)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
50015M109
1
Names of Reporting Persons
Sirenia Capital Management LP
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
3,495,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,495,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,495,000.00
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)
5.7 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
50015M109
1
Names of Reporting Persons
Alex Silverstein
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
3,495,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,495,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,495,000.00
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)
5.7 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Kodiak Sciences Inc.
(b)
Address of issuer's principal executive offices:
1250 Page Mill Road, Palo Alto, CA 94304
Item 2.
(a)
Name of person filing:
This statement is filed by:
(i) Sirenia Capital Management LP ("Sirenia") with respect to the common stock, par value $0.0001 per share ("Common Stock"), of Kodiak Sciences Inc. (the "Issuer") held by SILV Fund, Ltd. (the "Sirenia Fund"), an investment fund it manages; and
(ii) Alex Silverstein ("Mr. Silverstein"), the managing member of Sirenia Capital Management GP LLC, the general partner of Sirenia, with respect to the shares of Common Stock held by the Sirenia Fund.
The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons."
The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the securities reported herein.
Sirenia and Mr. Silverstein have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 99.1, pursuant to which they have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934 (the "Act").
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of Sirenia and Mr. Silverstein is 1674 Meridian Avenue, Suite 320, Miami Beach, FL 33139.
(c)
Citizenship:
Sirenia is a Delaware limited partnership. Mr. Silverstein is a United States citizen.
(d)
Title of class of securities:
Common Stock, par value $0.0001 per share
(e)
CUSIP Number(s):
50015M109
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:
The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 61,847,870 shares of Common Stock outstanding as of March 19, 2026, as reported in the Issuer's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission on March 31, 2026.
(b)
Percent of class:
5.7%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See Item 2(a). The Sirenia Fund has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5 percent of the outstanding Common Stock.
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.
Sirenia Capital Management LP
Signature:
/s/ Kolby Loft
Name/Title:
Kolby Loft, General Counsel & Chief Compliance Officer
What stake does Sirenia Capital report in Kodiak Sciences (KOD)?
Sirenia Capital reports beneficial ownership of 3,495,000 shares, equal to 5.7% of Kodiak Sciences common stock using the issuer's March 19, 2026 outstanding share count of 61,847,870.
Who holds the reported shares for Sirenia Capital?
The shares are held by SILV Fund, Ltd., an investment fund managed by Sirenia Capital Management. The filing states Sirenia and Alex Silverstein filed jointly under a Joint Filing Agreement (Exhibit 99.1).
What voting and dispositive powers are reported over the shares?
The cover-page data shows shared voting power and shared dispositive power for the 3,495,000 shares, indicating joint or fund-level control rather than sole individual authority.
What share count was used to calculate the 5.7% figure?
The percentage is calculated using 61,847,870 shares outstanding as of March 19, 2026, per Kodiak Sciences' Annual Report on Form 10-K filed March 31, 2026.
When was the Schedule 13G signed?
The Schedule 13G is signed by Sirenia and Alex Silverstein with signature dates of May 15, 2026, as shown in the filing.
