SRFM Ownership: Palantir Files 13G/A Revealing Nearly 20% Position

Rhea-AI Filing Summary

Palantir Technologies Inc. (the “Reporting Person”) has filed Amendment No. 5 to Schedule 13G on Surf Air Mobility Inc. (NASDAQ: SRFM). The filing, dated 23 June 2025, discloses Palantir’s beneficial ownership of 4,461,564 shares of Surf Air Mobility common stock, par value $0.0001. This amount represents 19.9 % of Surf Air Mobility’s 22,419,920 outstanding shares as of 18 June 2025.

The ownership calculation is based on (i) 21,379,363 shares reported outstanding by the issuer as of 13 June 2025 plus (ii) 1,040,557 shares issued to Palantir on 18 June 2025. Palantir received these 1,040,557 shares as payment for certain outstanding receivables. The company asserts sole voting and dispositive power over the entire 4,461,564-share position; no shared power is reported.

The Schedule 13G is filed under Rule 13d-1(c), indicating that Palantir qualifies for passive investor status and does not seek to influence control of Surf Air Mobility. The certification under Item 10 reiterates that the securities “were not acquired and are not held for the purpose of or with the effect of changing or influencing control” of the issuer.

Because Palantir now holds nearly 20 % of Surf Air Mobility’s outstanding shares, any further purchases that push the stake to or above 20 % could trigger additional regulatory considerations, but the filing contains no forward-looking statements or intentions. The document is signed by Scott S. Hsu, Attorney-in-Fact for Palantir, on 23 June 2025.

Positive

• Palantir’s 19.9 % ownership signals significant external shareholder support for Surf Air Mobility.
• Receipt of 1.04 M shares in lieu of cash improves the issuer’s liquidity by settling outstanding receivables without cash outflow.

Negative

• Equity issued to satisfy debt may indicate Surf Air Mobility’s limited cash resources.
• Palantir’s near-20 % stake could concentrate voting power, potentially limiting minority shareholder influence.

Insights

Financial Analyst

TL;DR: Palantir discloses passive 19.9 % stake in SRFM; sole voting power, no control intentions.

The filing confirms Palantir’s sizable but passive ownership of Surf Air Mobility. A 19.9 % position gives Palantir meaningful economic exposure and optionality without exceeding thresholds that could obligate a 13D or trigger change-in-control scrutiny. The additional 1.04 M shares issued for receivables suggest an operating or commercial relationship whereby Palantir accepted equity in lieu of cash, improving Surf Air’s liquidity. For SRFM investors, the presence of a well-capitalized technology company as the largest known shareholder can be viewed as a vote of confidence. However, the filing offers no detail on future collaboration or purchasing intentions, limiting immediate valuation impact.

Corporate Governance Specialist

TL;DR: Passive filing limits governance impact; large stake still enhances Palantir’s influence potential.

From a governance standpoint, a 19.9 % stake—while technically passive—positions Palantir as a key shareholder capable of materially affecting any shareholder vote requiring a simple majority. The explicit certification against control reduces near-term takeover risk but does not preclude informal influence. Investors should monitor whether Palantir’s ownership crosses 20 % (possibly demanding a 13D) or aligns with board nomination windows. The accepted-share payment for receivables raises questions about Surf Air’s cash position but simultaneously removes a liability. Overall material but not immediately disruptive.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Surf Air Mobility Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

868927203

(CUSIP Number)

06/18/2025

(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. 868927203

1

Names of Reporting Persons

Palantir Technologies 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 4,461,564.00
6	Shared Voting Power
7	Sole Dispositive Power 4,461,564.00
8	Shared Dispositive Power

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,461,564.00

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)

19.9 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Surf Air Mobility Inc.
(b)	Address of issuer's principal executive offices: 12111 S. Crenshaw Blvd., Hawthorne, CA, 90250
Item 2.
(a)	Name of person filing: Palantir Technologies Inc.
(b)	Address or principal business office or, if none, residence: 1200 17th Street Floor 15, Denver, CO 80202
(c)	Citizenship: The Reporting Person is a corporation incorporated under the laws of State of Delaware.
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 868927203
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: 4,461,564 shares as of June 23, 2025. The Reporting Person's number of securities beneficially owned includes 1,040,557 shares of Common Stock received on June 18, 2025, as payment for certain outstanding receivables.
(b)	Percent of class: Based on 22,419,920 shares of Common Stock outstanding as of June 18, 2025, which includes (i) 21,379,363 shares as of June 13, 2025, as provided by the Issuer, and (ii) 1,040,557 shares issued to the Reporting Person as of June 18, 2025: 19.9%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 4,461,564 shares (see Item 4(a)).
	(ii) Shared power to vote or to direct the vote: 0 shares.
	(iii) Sole power to dispose or to direct the disposition of: 4,461,564 shares (see Item 4(a)).
	(iv) Shared power to dispose or to direct the disposition of: 0 shares.
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.

Palantir Technologies Inc.

Signature:	/s/ Scott S. Hsu
Name/Title:	Scott S. Hsu, Attorney-in-Fact
Date:	06/23/2025

FAQ

How many Surf Air Mobility (SRFM) shares does Palantir own according to the Schedule 13G/A?

4,461,564 shares as of 23 June 2025.

What percentage of SRFM’s outstanding shares does this stake represent?

Palantir’s holding equals 19.9 % of the outstanding common stock.

Did Palantir acquire additional SRFM shares during this filing period?

Yes. Palantir received 1,040,557 shares on 18 June 2025 as payment for receivables.

Does Palantir intend to influence control of Surf Air Mobility?

The filing, submitted under Rule 13d-1(c), certifies that the stake is passive with no control intent.

What voting and dispositive powers does Palantir report over its SRFM shares?

Palantir reports sole voting and sole dispositive power over all 4,461,564 shares; no shared power is noted.