Icahn Amends Southwest Gas Holdings Stake

TL;DR

Icahn filed an update on his Southwest Gas stake. Watch this space.

AI Summary

Carl Icahn, through various entities including Icahn Capital LP and Icahn Enterprises G.P. Inc., has filed an amendment to their Schedule 13D on August 19, 2024, regarding their holdings in Southwest Gas Holdings, Inc. The filing indicates a change in their beneficial ownership, though specific new dollar amounts or percentage changes are not detailed in this excerpt. The entities are based in Sunny Isles Beach, Florida.

Why It Matters

This filing signals potential shifts in activist investor Carl Icahn's strategy or stake in Southwest Gas, which could influence the company's future direction and shareholder value.

Risk Assessment

Risk Level: medium — Activist investor filings can lead to significant volatility and strategic changes for the target company.

Key Players & Entities

• Southwest Gas Holdings, Inc. (company) — Subject Company
• Icahn Carl C (person) — Filing Person
• Icahn Capital LP (company) — Group Member
• Icahn Enterprises G.P. Inc. (company) — Group Member
• 702-876-7237 (phone_number) — Southwest Gas Business Phone

FAQ

Key Financial Figures

• $1.00 — ame of Issuer) Common Stock, Par Value $1.00 per share (Title of Class of Securitie
• $1.5 million — requiring it to pay a civil penalty of $1.5 million and to cease and desist from violations
• $500,000 — requiring him to pay a civil penalty of $500,000 and to cease and desist from committing

Filing Documents

• tm2421713d5_sc13da.htm (SC 13D/A) — 20KB
• 0001104659-24-090930.txt ( ) — 22KB

Identity and Background

Item 2. Identity and Background

of the Schedule 13D is hereby amended and supplemented as follows

Item 2 of the Schedule 13D is hereby amended and supplemented as follows: On August 19, 2024, Icahn Enterprises L.P. (“ IEP ”) and Carl C. Icahn entered into settlement agreements with the SEC, in connection with its inquiry previously disclosed by IEP. In connection with that settlement, the SEC entered an order in an administrative proceeding that contains non-scienter based findings that IEP failed to disclose in its Forms 10-K for the years 2018, 2019 and 2020 that Mr. Icahn pledged IEP securities as collateral to secure personal margin loans as required by Item 403(b) of Regulation S-K. The order relating to Mr. Icahn contains non-scienter based findings that, while Mr. Icahn’s prior Schedule 13D filings generally disclosed that he had pledged IEP depository units as collateral for personal margin loans, subsequent Schedule 13D filings were not amended to describe loan agreements and amendments to loan agreements or to attach guarantees as required by Items 6 and 7 of Schedule 13D. Without admitting or denying the SEC’s allegations (other than with respect to the SEC’s jurisdiction), under the terms of the settlements, (i) IEP consented to the entry of an order requiring it to pay a civil penalty of $1.5 million and to cease and desist from violations and any future violations of Section 13(a) of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), and Rule 13a-1 thereunder, and (ii) Mr. Icahn consented to the entry of an order requiring him to pay a civil penalty of $500,000 and to cease and desist from committing or causing any violations of Section 13(d)(2) of the Exchange Act and Rule 13d-2(a) thereunder. SIGNATURE After reasonable inquiry and to the best of each of the undersigned knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: August 19, 2024 ICAHN PARTNERS LP ICAHN ONSHORE LP ICAHN PARTNERS M