13D Filings
Southwest Gas Holdings, Inc.
SWX
Amendment
Ownership

8.38%

Total Shares

6,032,604

Issuer CIK

1692115

CUSIP

844895102

Event Date

Sep 24, 2025

Accepted

Sep 26, 2025, 05:00 PM

Reporting Persons (11)
Joint Filing

This is a joint filing. The reported shares may overlap between reporting persons and should not be summed.

NameType% of ClassAggregateSole VotingShared Voting
Carl C. Icahn
Individual
8.38%6,032,60406,032,604
Icahn Capital LP
Partnership
8.38%6,032,60406,032,604
IPH GP LLC
Other
8.38%6,032,60406,032,604
Icahn Enterprises Holdings L.P.
Partnership
8.38%6,032,60406,032,604
Icahn Enterprises G.P. Inc.
CO
8.38%6,032,60406,032,604
Beckton Corp.
CO
8.38%6,032,60406,032,604
Icahn Partners LP
Partnership
4.75%3,419,1673,419,1673,419,167
Icahn Onshore LP
Partnership
4.75%3,419,16703,419,167
Icahn Offshore LP
Partnership
3.63%2,613,43702,613,437
Icahn Partners Master Fund LP
Partnership
3.63%2,613,4372,613,4372,613,437
IEP Utility Holdings LLC
Other
0.00%000
Disclosure Items (2)

Security Title

Common Stock, Par Value $1.00 per share

Issuer Name

Southwest Gas Holdings, Inc.

Percentage of Class

As of the date hereof, the Reporting Persons may be deemed to beneficially own, in the aggregate, 6,032,604 shares of Common Stock, representing approximately 8.38% of the Issuer's outstanding shares of Common Stock, based on 71,979,296 shares of Common Stock outstanding as of July 25, 2025, as disclosed by the Issuer in its Form 10-Q for the quarterly period ended June 30, 2025.

Number of Shares

Icahn Master has sole voting and sole dispositive power with respect to 2,613,437 shares of Common Stock. Each of Icahn Offshore, Icahn Capital, IPH GP, Icahn Enterprises Holdings, Icahn Enterprises GP, Beckton and Mr. Icahn, by virtue of their relationships to Icahn Master, has shared voting power and shared dispositive power with respect to such shares. Icahn Partners has sole voting and sole dispositive power with respect to 3,419,167 shares of Common Stock. Each of Icahn Onshore, Icahn Capital, IPH GP, Icahn Enterprises Holdings, Icahn Enterprises GP, Beckton and Mr. Icahn, by virtue of their relationships to Icahn Partners, has shared voting power and shared dispositive power with respect to such shares. IEP Utility has sole voting power and sole dispositive power and shared and shared dispositive power with respect to 0 shares of Common Stock; however, IEP Utility has been included in this Schedule 13D as it is a signatory to the Updated Cooperation Agreement.

Transactions

On September 25, 2025, Icahn Partners Master Fund LP sold 651,160 shares of Common Stock and Icahn Partners LP sold 848,840 shares of Common Stock, in each case at a price per share of $77.91. Except as set forth herein, no transactions in the shares of Common Stock were effected by any of the Reporting Persons during the past sixty (60) days.

Shareholders

Not applicable.

Date of 5% Ownership

Not applicable.