Kinder Morgan Management, LLC
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Kinder Morgan Management LLC
(Name of Issuer)
Common Stock
(Title of Class of Securities)
49455U100
(CUSIP Number)
12/31/04
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's initial
filing on this form with respect to the subject class of securities, and for any subsequent
amendment containing information which would alter the disclosures provided in a prior
cover page.
The information required in the remainder of this cover page shall not be deemed to be
"filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or
otherwise subject to the liabilities of that section of the Act but shall be subject to all
other provisions of the Act (however, see the Notes).
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CUSIP No.: 49455U100
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1. Names of Reporting Persons
IRS Identification No:
OppenheimerFunds, Inc.
IRS No. 13-2527171
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2. Check the Appropriate Box if a Member of a Group (See
Instructions): Joint Filing
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3. SEC Use Only
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4. Citizenship or Place of Organization:
Colorado
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Number of
Shares 5. Sole Voting Power:
Beneficially 0
Owned by
Each
Reporting
Person With
---------------------
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6. Shared Voting Power:
0
---------------------
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7. Sole Dispositive Power:
0
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---------------------
8. Shared Dispositive Power:
4,822,317
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9. Aggregate Amount Beneficially Owned by Each Reporting Person:
4,822,317 (beneficial ownership disclaimed pursuant to Rule 13d-4 of
the Exchange Act of 1934)
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10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
[ ]
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11. Percent of Class Represented by Amount in Row (11):
9.29%
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12. Type of Reporting Person (See Instructions):
IA
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CUSIP No.: 49455U100
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1. Names of Reporting Persons
IRS Identification No: 84-0578481
Oppenheimer Capital Income Fund
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2. Check the Appropriate Box if a Member of a Group (See
Instructions): Joint Filing
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3. SEC Use Only
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4. Citizenship or Place of Organization:
Massachusetts
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Number of
Shares 5. Sole Voting Power:
Beneficially 3,232,500
Owned by
Each
Reporting
Person With
---------------------
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6. Shared Voting Power:
0
---------------------
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7. Sole Dispositive Power:
0
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---------------------
8. Shared Dispositive Power:
3,232,500
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9. Aggregate Amount Beneficially Owned by Each Reporting Person:
3,232,500
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10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
[ ]
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11. Percent of Class Represented by Amount in Row (11):
6.22%
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12. Type of Reporting Person (See Instructions):
IV
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Item:
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1(a) Name of Issuer:
Kinder Morgan Management LLC
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1(b) Address of Issuer's Principal Executive Offices:
500 Dallas Street
Suite 1000
Houston, TX 77002
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2(a) Name of Person Filing:
(i) OppenheimerFunds, Inc.
(ii) Oppenheimer Capital Income Fund
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2(b) Address of Principal Business Office or, if none, Residence:
(i) Two World Financial Center
225 Liberty Street, 11th Floor
New York, NY 10281-1008
(ii) 6803 South Tucson Way
Centennial, CO 80112
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2(c) Citizenship:
(i) Colorado
(ii) Massachusetts
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2(d) Title of Class of Securities:
Common Stock
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2(e) CUSIP Number:
49455U100
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3 If this statement is filed pursuant toss.240.13d-1(b) orss.240.13d-2(b)
or (c), check whether the person filing is a:
[X] An investment adviser in accordance withss.240.13d-1(b)(1)(ii)(E)
[X] Investment company registered under section 8 of the Investment
Company Act of 1940
(15 U.S.C. 80a-8)
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4(a) Amount beneficially owned:
(i) 4,822,317 (beneficial ownership disclaimed pursuant to Rule 13d-4
of the Exchange Act of 1934)
(ii) 3,232,500
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4(b) Percent of class:
(i) 9.29% (reflects amount reported in 4(b)(ii) below)
(ii) 6.22%
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4(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
(a) 0
(b) 3,232,500
(ii) Shared power to vote or to direct the vote:
(a) 0
(b) 0
(iii) Sole power to dispose or to direct the disposition of:
(a) 0
(b) 0
(iv) Shared power to dispose or to direct the disposition of:
(a) 4,822,317
(b) 3,232,500
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5. Ownership of Five Percent or Less of a Class: [ ]
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6. Ownership of More than Five Percent on Behalf of Another Person.:
See Exhibit A hereto.
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7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company:
N/A
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8. Identification and Classification of Members of the Group:
N/A
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9. Notice of Dissolution of Group:
N/A
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10. Certification:
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.
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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.
02/15/05
Date
/s/ Mark Vandehey
Signature
Mark Vandehey, Senior Vice President
Chief Compliance Officer
Name/Title
EXHIBIT A
The respective Boards of Directors or Trustees of the registered investment companies
("Funds") managed by OppenheimerFunds, Inc. ("OFI") that own shares of the issuer can
direct the disposition of dividends received by such Funds and can dispose of such
securities. Additionally, OFI shares the power to dispose of such securities with the Board
of Directors or Trustees of such Funds; however, the Boards of Directors or Trustees of
such Funds have delegated this responsibility to OFI as the Funds' investment advisor under
the respective investment advisory agreements. OFI has an interest relating to five (5%)
percent or more of such securities as disclosed on Page 2 hereof, by virtue of the interest
of five percent (5%) or more of such securities by Oppenheimer Capital Income Fund, as
disclosed on pages 3 and 4 hereby. OFI disclaims ownership of such securities, except as
expressly stated herein.
EXHIBIT B
The undersigned investment company hereby acknowledges and agrees that a report on Schedule
13G filed by OppenheimerFunds, Inc. on or about the date hereof, relating to the common
stock of Kinder Morgan Management LLC, is filed on behalf of the undersigned.
Dated: February 15, 2005 Oppenheimer Capital Income Fund
By: /s/ Kathleen T. Ives
Kathleen T. Ives
Assistant Secretary
Kinder Morgan Mgmt LLC 13g a2(123104).rtf