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

6.60%

Total Shares

4,761,357

Issuer CIK

1692115

CUSIP

844895102

Event Date

Jan 15, 2026

Accepted

Jan 21, 2026, 05:26 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
6.60%4,761,35704,761,357
Icahn Capital LP
Partnership
6.60%4,761,35704,761,357
IPH GP LLC
Other
6.60%4,761,35704,761,357
Icahn Enterprises Holdings L.P.
Partnership
6.60%4,761,35704,761,357
Icahn Enterprises G.P. Inc.
CO
6.60%4,761,35704,761,357
Beckton Corp.
CO
6.60%4,761,35704,761,357
Icahn Partners LP
Partnership
3.74%2,698,7532,698,7532,698,753
Icahn Onshore LP
Partnership
3.74%2,698,75302,698,753
Icahn Offshore LP
Partnership
2.86%2,062,60402,062,604
Icahn Partners Master Fund LP
Partnership
2.86%2,062,6042,062,6042,062,604
IEP Utility Holdings LLC
Other
0.00%000
Disclosure Items (3)

Security Title

Common Stock, Par Value $1.00 per share

Issuer Name

Southwest Gas Holdings, Inc.

Issuer Address

C/O SOUTHWEST GAS CORPORATION, LAS VEGAS, NV, 89113

Percentage of Class

As of the date hereof, the Reporting Persons may be deemed to beneficially own, in the aggregate, 4,761,357 shares of Common Stock, representing approximately 6.6% of the Issuer's outstanding shares of Common Stock, based on 72,183,903 shares of Common Stock outstanding as of November 21, 2025, as disclosed by the Issuer in its prospectus supplement filed with the SEC on November 26, 2025.

Number of Shares

Icahn Master has sole voting and sole dispositive power with respect to 2,062,604 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 2,698,753 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 2025 Agreement.

Transactions

Exhibit 1 attached hereto sets forth all transactions with respect to the Shares by any Reporting Person since January 2, 2025 (the date on which the last amendment to this Schedule 13D was filed with the SEC). Except as set forth Exhibit 1, no transactions in the shares of Common Stock were effected by any of the Reporting Persons during such period.

Shareholders

Not applicable.

Date of 5% Ownership

Not applicable.

1. Transactions in Shares

Southwest Gas Holdings, Inc. — Schedule 13D | 13D Filings