Filing Details

Accession Number:
0001539497-24-002482
Form Type:
13D Filing
Publication Date:
2024-11-19 19:00:00
Filed By:
Icahn Capital LP
Company:
Southwest Gas Holdings Inc. (NYSE:SWX)
Filing Date:
2024-11-20
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Icahn Partners Master Fund 4,036,163 4,036,163 4,036,163 4,036,163 4,036,163 5.63%
Icahn Offshore 0 4,036,163 0 4,036,163 4,036,163 5.63%
Icahn Partners 5,596,441 5,596,441 5,596,441 5,596,441 5,596,441 7.8%
Icahn Onshore 0 5,596,441 0 5,596,441 5,596,441 7.8%
Icahn Capital 0 9,632,604 0 9,632,604 9,632,604 13.43%
IPH GP 0 9,632,604 0 9,632,604 9,632,604 13.43%
Icahn Enterprises Holdings 0 9,632,604 0 9,632,604 9,632,604 13.43%
Icahn Enterprises G.P. Inc 0 9,632,604 0 9,632,604 9,632,604 13.43%
Beckton Corp 0 9,632,604 0 9,632,604 9,632,604 13.43%
IEP Utility Holdings 0 0 0 0 0 0%
Carl C. Icahn 0 9,632,604 0 9,632,604 9,632,604 13.43%
Filing

 

 

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

 

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment 10)*

 

Southwest Gas Holdings, Inc.
(Name of Issuer)

 

Common Stock, Par Value $1.00 per share
(Title of Class of Securities)

 

844895102
(CUSIP Number)

 

Jesse A. Lynn

Chief Operating Officer

Icahn Capital LP

16690 Collins Avenue, PH-1
Sunny Isles Beach, FL 33160

(305) 422-4100
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

November 19, 2024
(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ☐.

 

NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 240.13d-7 for other parties to whom copies are to be sent.

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

 

 

 

 

SCHEDULE 13D

    

CUSIP No. 844895102
(1) NAME OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
   
  Icahn Partners Master Fund LP
(2)

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) ☐

(b) ☐

(3)

SEC USE ONLY

 

(4)

SOURCE OF FUNDS

 

WC

(5)

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐

 

(6)

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

Number of
Shares
Beneficially
Owned
by Each
Reporting
Person With
(7)

SOLE VOTING POWER

4,036,163

(8)

SHARED VOTING POWER

4,036,163

 

(9)

SOLE DISPOSITIVE POWER

4,036,163

 

(10)

SHARED DISPOSITIVE POWER

4,036,163

 

(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,036,163
(12)

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐

 

(13)

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

5.63%

 

(14)

TYPE OF REPORTING PERSON

PN

 

        

 

 

 

SCHEDULE 13D

 

CUSIP No. 844895102
(1) NAME OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
   
  Icahn Offshore LP
(2)

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) ☐

(b) ☐

(3)

SEC USE ONLY

 

(4)

SOURCE OF FUNDS

 

OO

(5)

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐

 

(6)

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

Number of
Shares
Beneficially
Owned
by Each
Reporting
Person With
(7)

SOLE VOTING POWER

 0

 

(8)

SHARED VOTING POWER

4,036,163

 

(9)

SOLE DISPOSITIVE POWER

 0

 

(10)

SHARED DISPOSITIVE POWER

4,036,163

 

(11)

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

4,036,163

 

(12)

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐

 

(13)

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

5.63%

 

(14)

TYPE OF REPORTING PERSON

PN

    

 

 

 

SCHEDULE 13D

 

CUSIP No. 844895102
(1) NAME OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
   
  Icahn Partners LP
(2)

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) ☐

(b) ☐

(3)

SEC USE ONLY

 

(4)

SOURCE OF FUNDS

 

WC

(5)

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐

 

(6)

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

Number of
Shares
Beneficially
Owned
by Each
Reporting
Person With
(7)

SOLE VOTING POWER

 5,596,441

 

(8)

SHARED VOTING POWER

5,596,441

 

(9)

SOLE DISPOSITIVE POWER

5,596,441

 

(10)

SHARED DISPOSITIVE POWER

5,596,441

 

(11)

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

5,596,441

 

(12)

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐

 

(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.8%   
(14)

TYPE OF REPORTING PERSON

PN

 

 

 

 

SCHEDULE 13D

 

CUSIP No. 844895102
(1) NAME OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
   
  Icahn Onshore LP
(2)

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) ☐

(b) ☐

(3)

SEC USE ONLY

 

(4)

SOURCE OF FUNDS

 

OO

(5)

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐

 

(6)

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

Number of
Shares
Beneficially
Owned
by Each
Reporting
Person With
(7)

SOLE VOTING POWER

 0

 

(8)

SHARED VOTING POWER

5,596,441

 

(9)

SOLE DISPOSITIVE POWER

 0

 

(10)

SHARED DISPOSITIVE POWER

5,596,441

 

(11)

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

5,596,441

 

(12)

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐

 

(13)

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

7.8%

 

(14)

TYPE OF REPORTING PERSON

PN

 

 

 

 

SCHEDULE 13D

 

CUSIP No. 844895102
(1) NAME OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
   
  Icahn Capital LP
(2)

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) ☐

(b) ☐

(3)

SEC USE ONLY

 

(4)

SOURCE OF FUNDS

 

OO

(5)

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐

 

(6)

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

Number of
Shares
Beneficially
Owned
by Each
Reporting
Person With
(7)

SOLE VOTING POWER

 0

 

(8)

SHARED VOTING POWER

9,632,604

 

(9)

SOLE DISPOSITIVE POWER

0

 

(10)

SHARED DISPOSITIVE POWER

9,632,604

 

(11)

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

9,632,604

 

(12)

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐

 

(13)

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

13.43%

 

(14)

TYPE OF REPORTING PERSON

PN

 

 

 

 

SCHEDULE 13D

 

CUSIP No. 844895102
(1) NAME OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
   
  IPH GP LLC
(2)

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) ☐

(b) ☐

(3)

SEC USE ONLY

 

(4)

SOURCE OF FUNDS

 

OO

(5)

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐

 

(6)

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

Number of
Shares
Beneficially
Owned
by Each
Reporting
Person With
(7)

SOLE VOTING POWER

 0

 

(8)

SHARED VOTING POWER

9,632,604

 

(9)

SOLE DISPOSITIVE POWER

0

 

(10)

SHARED DISPOSITIVE POWER

9,632,604

 

(11)

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

9,632,604

 

(12)

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐

 

(13)

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

13.43%

 

(14)

TYPE OF REPORTING PERSON

OO

 

 

 

 

SCHEDULE 13D

CUSIP No. 844895102
(1) NAME OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
   
  Icahn Enterprises Holdings L.P.
(2)

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) ☐

(b) ☐

(3)

SEC USE ONLY

 

(4)

SOURCE OF FUNDS

 

OO

(5)

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐

 

(6)

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

Number of
Shares
Beneficially
Owned
by Each
Reporting
Person With
(7)

SOLE VOTING POWER

 0

 

(8)

SHARED VOTING POWER

9,632,604

 

(9)

SOLE DISPOSITIVE POWER

 0

 

(10)

SHARED DISPOSITIVE POWER

9,632,604

 

(11)

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

9,632,604

 

(12)

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐

 

(13)

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

13.43%

 

(14)

TYPE OF REPORTING PERSON

PN

 

 

 

 

 

SCHEDULE 13D

 

CUSIP No. 844895102
(1) NAME OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
   
  Icahn Enterprises G.P. Inc.
(2)

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) ☐

(b) ☐

(3)

SEC USE ONLY

 

(4)

SOURCE OF FUNDS

 

OO

(5)

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐

 

(6)

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

Number of
Shares
Beneficially
Owned
by Each
Reporting
Person With
(7)

SOLE VOTING POWER

0

 

(8)

SHARED VOTING POWER

9,632,604

 

(9)

SOLE DISPOSITIVE POWER

0

 

(10)

SHARED DISPOSITIVE POWER

9,632,604

 

(11)

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

9,632,604

 

(12)

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐

 

(13)

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

13.43%

 

(14)

TYPE OF REPORTING PERSON

CO

 

 

SCHEDULE 13D

CUSIP No. 844895102
(1) NAME OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
   
  Beckton Corp.
(2)

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) ☐

(b) ☐

(3)

SEC USE ONLY

 

(4)

SOURCE OF FUNDS

 

OO

(5)

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐

 

(6)

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

Number of
Shares
Beneficially
Owned
by Each
Reporting
Person With
(7)

SOLE VOTING POWER

0

(8)

SHARED VOTING POWER

9,632,604

 

(9)

SOLE DISPOSITIVE POWER

0

(10)

SHARED DISPOSITIVE POWER

9,632,604

 

(11)

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

9,632,604

 

(12)

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐

 

(13)

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

13.43%

 

(14)

TYPE OF REPORTING PERSON

CO

 

 

 

SCHEDULE 13D

 

CUSIP No. 844895102
(1) NAME OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
   
  IEP Utility Holdings LLC
(2)

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) ☐

(b) ☐

(3)

SEC USE ONLY

 

(4)

SOURCE OF FUNDS

 

WC

(5)

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐

 

(6)

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

Number of
Shares
Beneficially
Owned
by Each
Reporting
Person With
(7)

SOLE VOTING POWER

0

 

(8)

SHARED VOTING POWER

0

 

(9)

SOLE DISPOSITIVE POWER

0

 

(10)

SHARED DISPOSITIVE POWER

0

 

(11)

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

0

 

(12)

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐

 

(13)

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0%

 

(14)

TYPE OF REPORTING PERSON

OO

        

 

 

 

 

SCHEDULE 13D

 

CUSIP No. 844895102
(1) NAME OF REPORTING PERSONS
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
   
  Carl C. Icahn
(2)

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

 

(a) ☐

(b) ☐

(3)

SEC USE ONLY

 

(4)

SOURCE OF FUNDS

 

OO

(5)

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐

 

(6)

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States of America

Number of
Shares
Beneficially
Owned
by Each
Reporting
Person With
(7)

SOLE VOTING POWER

0

 

(8)

SHARED VOTING POWER

9,632,604

 

(9)

SOLE DISPOSITIVE POWER

0

 

(10)

SHARED DISPOSITIVE POWER

9,632,604

 

(11)

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

9,632,604

 

(12)

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐

 

(13)

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

13.43%

 

(14)

TYPE OF REPORTING PERSON

IN

 

 

 

 

 

 

Item 1. Security and Issuer.

 

This statement constitutes Amendment No. 10 to the Schedule 13D (as amended, the “Schedule 13D”) relating to the shares of the common stock, par value $1.00 per share (the “Common Stock”), of Southwest Gas Holdings, Inc., a Delaware corporation (the “Issuer”), and hereby amends the Schedule 13D originally filed with the Securities and Exchange Commission (the “SEC”) on June 3, 2022. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D.

 

Item 4. Purpose of Transaction.

 

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.

 

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 Partners LP November 19, 2024

(827,142)*

 

$76.74

 

* Sale was made to a market maker pursuant to Section 144(f)(1)(ii) of the Securities Act of 1933, as amended (the “Securities Act”).

 

(d) Not applicable.

 

(e) Not applicable.

 

 

 

 

Item 6.

Contracts, Arrangements, Understandings or Relationship with Respect to Securities of the Issuer.

 

In connection with the sales of the shares of Common Stock effected on November 19, 2024 (as further described in Item 5(c) above), Icahn Partners Master Fund LP and Icahn Partners LP agreed with the market maker that effected the sale of the shares of Common Stock not to sell any shares of Common Stock pursuant to Rule 144 under the Securities Act or a resale registration statement for a period of sixty (60) days after November 19, 2024.

 

*****

 

 

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: November 20, 2024

 

ICAHN PARTNERS LP

ICAHN ONSHORE LP

ICAHN PARTNERS MASTER FUND LP

ICAHN OFFSHORE LP

ICAHN CAPITAL LP

 

By: /s/ Jesse Lynn

Name: Jesse Lynn

Title: Chief Operating Officer

 

BECKTON CORP.

 

By:/s/ Ted Papapostolou

Name: Ted Papapostolou

Title: Vice President

 

IPH GP LLC

By: AEPC Holdings LLC, its sole member

By: Icahn Enterprises Holdings L.P., its sole member

By: Icahn Enterprises G.P. Inc., its general partner

ICAHN ENTERPRISES HOLDINGS L.P.

By: Icahn Enterprises G.P. Inc., its general partner

ICAHN ENTERPRISES G.P. INC.

 

By: /s/ Ted Papapostolou        

Name: Ted Papapostolou

Title: Chief Financial Officer

 

IEP UTILITY HOLDINGS LLC

 

By: /s/ Ted Papapostolou        

Name: Ted Papapostolou

Title: Chief Financial Officer

 

/s/ Carl C. Icahn             

CARL C. ICAHN

 

 

 

[Signature Page of Schedule 13D/A No. 10 – SWX]