ISQ Global Fund II GP LLC, a 10% owner and director of Kinetik Holdings Inc., sold 6,963 Class A common shares on August 21, 2026, for a total of $384,116. The weighted average sale price was $55.1654, with individual transactions ranging from $55.01 to $55.50.
Following the divestment, the fund retains an indirect stake of 918,824 shares through Buzzard Midstream LLC, where ISQ Global Fund II GP LLC serves as general partner with voting and investment authority. I Squared Capital, LLC remains the sole member of Fund II GP, while ISQ Holdings, LLC acts as its managing member. Members Sadek Wahba and Gautam Bhandari disclaim beneficial ownership beyond their pecuniary interest.
Kinetik Holdings reported second-quarter results on the same day, with adjusted earnings per share of $0.64, exceeding Wall Street estimates of $0.25. Revenue reached $581.44 million, surpassing expectations of $438.25 million. Adjusted EBITDA for the quarter set a record at $281 million, prompting an upward revision to full-year guidance to a range of $1.04 billion to $1.1 billion.
The company's stock has gained 59% year-to-date and 29% over the past six months, trading near its 52-week high of $56.10. Clear Street downgraded Kinetik from 'buy' to 'hold' with a $57 price target, citing limited upside after the recent rally.
