Long-Term Returns of Carl Icahn’s 10 Activist Targets

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5. Southwest Gas Holdings, Inc. (NYSE:SWX)

Stock Return: – 6.34%
S&P 500 Return: 8.74%
Investment date: 10/4/2021

Through its subsidiary Southwest Gas Holdings, Inc. (NYSE:SWX) engages in purchasing, distributing, and transporting natural gas. The company delivers natural gas to over two million customers in the US. Carl Icahn owns about a 15.86% stake in the company, valued at over $732 million.

After a fierce proxy battle, Icahn reached an agreement with Southwest Gas Holdings, Inc. (NYSE:SWX) in 2022, resulting in him being awarded three slots on the board. The company also agreed to review a full range of strategic alternatives, including the sale of the company or the sale of one or more of its business units.

While Icahn still holds a stake in the company, his stake is down 6.34% compared to the S&P 500 gain of 8.74%.

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