Icahn Amends Southwest Gas Stake Filing

TL;DR

Icahn just updated his 13D on Southwest Gas - still a big player.

AI Summary

Carl Icahn, through various entities including Icahn Capital LP and Icahn Enterprises Holdings L.P., has filed an amendment to their Schedule 13D on November 20, 2024, regarding their holdings in Southwest Gas Holdings, Inc. The filing indicates a change in the beneficial ownership of the subject company, with Icahn entities collectively holding a significant stake. Specific details on the exact percentage or number of shares are not provided in this header information, but the amendment signifies an ongoing interest and potential strategic actions concerning Southwest Gas.

Why It Matters

This filing indicates continued significant interest and potential strategic maneuvering by Carl Icahn's entities in Southwest Gas Holdings, Inc., which could impact the company's future direction and shareholder value.

Risk Assessment

Risk Level: medium — Carl Icahn's involvement often signals potential activist campaigns or strategic shifts, creating uncertainty for the company and its investors.

Key Players & Entities

• Southwest Gas Holdings, Inc. (company) — Subject company
• Icahn Carl C (person) — Filing party
• Icahn Capital LP (company) — Group member filing
• Icahn Enterprises Holdings L.P. (company) — Group member filing
• 8360 S. DURANGO DRIVE, LAS VEGAS, NV 89113 (address) — Southwest Gas Holdings, Inc. business address
• 16690 COLLINS AVE., PH-1, SUNNY ISLES BEACH, FL 33160 (address) — Icahn Carl C business address

FAQ

Key Financial Figures

• $1.00 — ame of Issuer) Common Stock, Par Value $1.00 per share (Title of Class of Securiti
• $76.74 — Fund LP November 19, 2024 (562,858)* $76.74 Icahn Partners LP November 19, 2024

Filing Documents

• n2779_x265-sc13da.htm (SC 13D/A) — 121KB
• 0001539497-24-002482.txt ( ) — 123KB

of the Schedule 13D is hereby amended by the

Item 4 of the Schedule 13D is hereby amended by the addition of the following as the next to last paragraph at the end thereof: As further described in Item 5(c) below, the Reporting Persons sold an aggregate of 1,390,000 shares of Common Stock on November 19, 2024. Reference is made to Item 6 below for certain restrictions on the ability of the Reporting Persons to sell the remaining shares of Common Stock to which the Reporting Persons beneficially own. Item 5 . Interest in Securities of the Issuer .

of the Schedule 13D is hereby amended by replacing it in its entirety

Item 5 of the Schedule 13D is hereby amended by replacing it in its entirety with the following: (a) As of the date hereof, the Reporting Persons may be deemed to beneficially own, in the aggregate, 9,632,604 shares of Common Stock, representing approximately 13.43% of the Issuer’s outstanding shares of Common Stock, based on 71,743,666 shares of Common Stock outstanding as of October 25, 2024, as disclosed by the Issuer in its Form 10-Q for the quarterly period ended September 30, 2024. (b) Icahn Master has sole voting and sole dispositive power with respect to 4,036,163 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 5,596,441 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. (c) The following table sets forth all transactions with respect to the shares of Common Stock effected during the past sixty (60) days by any of the Reporting Persons. Except as noted below, all such transactions were sales of shares of Common Stock effected in the open market, as further described in Item 6 below. Name of Reporting Person Date of Transaction Amount of Securities Price per Share of Common Stock (U.S. $) Icahn Partners Master Fund LP November 19, 2024 (562,858)* $76.74 Icahn P