SWXNYSENatural Gas Transmisison & DistributionFiscal year ends December 31
Southwest Gas Holdings, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$86.39−1.06 (-1.21%)
Close on Oct 19, 2026
- Market cap
- $6.28B
- P/E (TTM)
- 11.4
- Dividend yield
- 2.87%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
93.1%
67M of 72M shares
Institutional holders
411
56 new, 39 sold out
Net institutional buying
2M
In Q2 2026
Insider trades, 12 months
0 buys · 2 sales
Net sold $450.04K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 9,297,238 | 13.00% | 13G (passive) amendment | Dec 31, 2023 |
| Beckton Corp. | 7,532,604 | 10.49% | 13D (active) amendment | Mar 24, 2025 |
| Icahn Enterprises G.P. Inc. | 6,032,604 | 8.38% | 13D (active) amendment | Oct 14, 2025 |
| Icahn Enterprises Holdings L.P. | 6,032,604 | 8.36% | 13D (active) amendment | Dec 31, 2025 |
| FMR LLC | 5,649,915 | 7.80% | 13G (passive) amendment | Dec 31, 2025 |
| Iph Gp LLC | 4,761,357 | 6.60% | 13D (active) amendment | Jan 16, 2026 |
| Vanguard Portfolio Management | 3,882,198 | 5.36% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of SWX | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 11,181,201 | 15.43% | $991.55M | +434,070 | 0.01% |
| FMR LLC | 5,575,126 | 7.70% | $494.40M | +413,169 | 0.02% |
| Vanguard Portfolio Management LLC | 3,973,510 | 5.48% | $352.37M | +117,743 | 0.02% |
| Corvex Management LP | 3,208,538 | 4.43% | $284.53M | −1,109,623 | 8.69% |
| Vanguard Capital Management LLC | 3,047,616 | 4.21% | $270.26M | +39,317 | 0.01% |
| State Street Corp | 2,607,181 | 3.60% | $231.20M | +185,646 | 0.01% |
| Geode Capital Management, LLC | 2,086,964 | 2.88% | $185.10M | +378,958 | 0.01% |
| Maverick Capital Ltd | 1,889,558 | 2.61% | $167.57M | −237,369 | 1.48% |
| Aqr Capital Management LLC | 1,603,686 | 2.21% | $142.21M | +439,708 | 0.05% |
| Adage Capital Partners Gp, L.L.C. | 1,354,517 | 1.87% | $120.12M | −120,483 | 0.17% |
| T. Rowe Price Investment Management, Inc. | 1,140,210 | 1.57% | $101.11K | +105,627 | 0.07% |
| Channing Capital Management, LLC | 1,074,868 | 1.48% | $95.32M | −31,963 | 2.19% |
| Dimensional Fund Advisors LP | 1,058,783 | 1.46% | $93.90M | +4,033 | 0.02% |
| Principal Financial Group Inc | 985,861 | 1.36% | $87.43M | −85,932 | 0.04% |
| Gabelli Funds LLC | 950,843 | 1.31% | $84.32M | −15,246 | 0.54% |
| Norges Bank | 948,095 | 1.31% | $84.08M | New | 0.01% |
| Northern Trust Corp | 892,391 | 1.23% | $79.14M | +98,136 | 0.01% |
| Goldman Sachs Group Inc | 869,554 | 1.20% | $77.11M | +173,960 | 0.01% |
| River Road Asset Management, LLC | 865,242 | 1.19% | $76.73M | −38,508 | 0.85% |
| Bank of New York Mellon Corp | 838,118 | 1.16% | $74.32M | −8,133 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 411 | 67M | 93.1% | 56 / 168 | 117 / 39 | 7M | 5M |
| Q1 2026 | 398 | 65M | 90.0% | 90 / 154 | 96 / 40 | 15M | 11M |
| Q4 2025 | 353 | 68M | 93.8% | 55 / 112 | 129 / 32 | 6M | 6M |
| Q3 2025 | 334 | 68M | 93.6% | 47 / 136 | 93 / 36 | 6M | 6M |
| Q2 2025 | 328 | 67M | 92.7% | 45 / 140 | 98 / 60 | 6M | 3M |
| Q1 2025 | 347 | 65M | 89.4% | 63 / 124 | 104 / 22 | 4M | 5M |
| Q4 2024 | 309 | 66M | 90.5% | 41 / 123 | 102 / 25 | 4M | 4M |
| Q3 2024 | 297 | 66M | 90.5% | 39 / 105 | 111 / 25 | 12M | 4M |
| Q2 2024 | 285 | 67M | 92.3% | 39 / 101 | 99 / 36 | 3M | 4M |
| Q1 2024 | 285 | 68M | 93.4% | 41 / 83 | 114 / 33 | 5M | 5M |
| Q4 2023 | 279 | 67M | 92.5% | 43 / 84 | 109 / 38 | 5M | 3M |
| Q3 2023 | 278 | 65M | 90.2% | 29 / 77 | 121 / 20 | 4M | 5M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of SWX | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Mid-Cap ETF | 2,205,220 | 3.04% | $195.56M | 0.16% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 2,181,786 | 3.01% | $193.48M | 0.01% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 1,896,978 | 2.62% | $168.22M | 0.20% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 1,576,766 | 2.18% | $139.83M | 0.07% | Jun 30, 2026 |
| iShares Select Dividend ETF | 1,242,004 | 1.71% | $111.04M | 0.47% | Jul 31, 2026 |
| Vanguard Small-Cap Value Index Fund | 998,732 | 1.38% | $88.57M | 0.13% | Jun 30, 2026 |
| Fidelity Small Cap Value Fund | 980,699 | 1.35% | $87.67M | 1.60% | Jul 31, 2026 |
| VIP Mid Cap Portfolio | 899,900 | 1.24% | $79.80M | 0.84% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 806,920 | 1.11% | $72.14M | 0.21% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 738,086 | 1.02% | $65.45M | 0.07% | Jun 30, 2026 |
| Fidelity Stock Selector Small Cap Fund | 714,731 | 0.99% | $63.90M | 0.87% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 694,862 | 0.96% | $61.62M | 0.42% | Jun 30, 2026 |
| Undiscovered Managers Behavioral Value Fund | 649,750 | 0.90% | $57.62M | 0.64% | Jun 30, 2026 |
| T. Rowe Price Small-Cap Value Fund, Inc. | 608,493 | 0.84% | $53.96M | 0.51% | Jun 30, 2026 |
| The Gabelli Utilities Fund | 597,000 | 0.82% | $52.94M | 3.01% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Julie M. Williams | SVP/Cont. Improvement and Opt. | 28,935 | 0.04% | Sep 29, 2026 |
| Justin S. Forsberg | SVP/Chief Financial Officer | 6,862 | 0.01% | Mar 3, 2026 |
| Karen S. Haller | President and CEO | 189,293 | 0.26% | Mar 3, 2026 |
| Amy L. Timperley | SVP/Chief Reg. & Public Aff. | 24,094 | 0.03% | Mar 3, 2026 |
| Randall P. Gabe | SVP/Chief Administrative OFC | 25,351 | 0.03% | Mar 3, 2026 |
| Justin L. Brown | President/Southwest Gas Corp. | 56,285 | 0.08% | Mar 3, 2026 |
| Catherine M. Mazzeo | SVP/Chief Legal/Comp. Officer | 16,896 | 0.02% | Mar 3, 2026 |
| Fabio A. Pineda | VP/Controller/CAO | 2,417 | 0.00% | Feb 23, 2026 |
| Robert J. Stefani | SVP/Chief Financial Officer | 28,444 | 0.04% | Nov 26, 2025 |
| Lori L. Colvin | VP/Controller/CAO | 8,585 | 0.01% | Mar 5, 2025 |
| Molly R. Carson | Director | 1,196 | 0.00% | May 13, 2026 |
| Leezie Kim | Director | 1,196 | 0.00% | May 13, 2026 |
| E. Renae Conley | Director | 12,282 | 0.02% | Feb 23, 2026 |
| Andrew W. Evans | Director | 10,046 | 0.01% | Feb 23, 2026 |
| Jane Lewis-Raymond | Director | 18,974 | 0.03% | Feb 23, 2026 |
| Ruby Sharma | Director | 9,480 | 0.01% | Feb 23, 2026 |
| Carlos Ruisanchez | Director | 10,693 | 0.01% | Feb 23, 2026 |
| Henry P. Linginfelter | Director | 10,046 | 0.01% | Feb 23, 2026 |
| Anne L. Mariucci | Director | 50,100 | 0.07% | Feb 23, 2026 |
| Brian E. Sandoval | Director | 3,299 | 0.00% | Feb 23, 2026 |
| Leslie T. Thornton | Director | 17,201 | 0.02% | Feb 23, 2026 |
| A. Randall Thoman | Director | 42,738 | 0.06% | Feb 24, 2025 |
| Andrew Teno | Director | 7,996 | 0.01% | Feb 24, 2025 |
| Partners Lp Icahn | 10% owner | 9,632,604 | 13.30% | Sep 26, 2025 |
| Carl C. Icahn | 10% owner | 6,032,604 | 8.33% | Sep 26, 2025 |
| Partners Master Fund Lp Icahn | 10% owner | 10,972,412 | 15.15% | Sep 26, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Julie M. Williams SVP/Cont. Improvement and Opt. | Sep 28, 2026 | Sale | −2,500 | $81.81 | $204.53K | 26,450 |
| Molly R. Carson Director | May 7, 2026 | Award | +1,196.37 | – | – | 1,196 |
| Leezie Kim Director | May 7, 2026 | Award | +1,196.37 | – | – | 1,196 |
| Karen S. Haller President and CEO | Feb 27, 2026 | Tax withholding | −13,105.28 | $80.02 | $1.05M | 185,798 |
| Randall P. Gabe SVP/Chief Administrative OFC | Feb 27, 2026 | Tax withholding | −2,171.88 | $80.02 | $173.79K | 24,153 |
| Amy L. Timperley SVP/Chief Reg. & Public Aff. | Feb 27, 2026 | Tax withholding | −1,182.37 | $80.02 | $94.61K | 15,118 |
| Justin L. Brown President/Southwest Gas Corp. | Feb 27, 2026 | Tax withholding | −6,838.14 | $80.02 | $547.19K | 27,623 |
| Justin L. Brown President/Southwest Gas Corp. | Feb 27, 2026 | Tax withholding | −3,208.78 | $87.60 | $281.09K | 34,461 |
| Justin S. Forsberg SVP/Chief Financial Officer | Feb 27, 2026 | Tax withholding | −519.92 | $80.02 | $41.60K | 6,862 |
| Catherine M. Mazzeo SVP/Chief Legal/Comp. Officer | Feb 27, 2026 | Tax withholding | −543.74 | $80.02 | $43.51K | 16,150 |
| Julie M. Williams SVP/Cont. Improvement and Opt. | Feb 27, 2026 | Tax withholding | −3,472.57 | $80.02 | $277.88K | 28,950 |
| Justin L. Brown President/Southwest Gas Corp. | Feb 22, 2026 | Award | +8,427.29 | – | – | 37,670 |
| Justin L. Brown President/Southwest Gas Corp. | Feb 19, 2026 | Award | +17,377.75 | – | – | 29,242 |
| Justin L. Brown President/Southwest Gas Corp. | Feb 19, 2026 | Award | +5,544.21 | – | – | 11,865 |
| Julie M. Williams SVP/Cont. Improvement and Opt. | Feb 19, 2026 | Award | +8,824.83 | – | – | 32,422 |
| Julie M. Williams SVP/Cont. Improvement and Opt. | Feb 19, 2026 | Award | +2,993.57 | – | – | 23,598 |
| Randall P. Gabe SVP/Chief Administrative OFC | Feb 19, 2026 | Award | +2,340.24 | – | – | 20,557 |
| Randall P. Gabe SVP/Chief Administrative OFC | Feb 19, 2026 | Award | +5,768.6 | – | – | 26,325 |
| Ruby Sharma Director | Feb 19, 2026 | Award | +1,725.57 | – | – | 9,480 |
| Andrew W. Evans Director | Feb 19, 2026 | Award | +1,725.57 | – | – | 10,046 |
| Leslie T. Thornton Director | Feb 19, 2026 | Award | +1,725.57 | – | – | 17,201 |
| Catherine M. Mazzeo SVP/Chief Legal/Comp. Officer | Feb 19, 2026 | Award | +3,964.66 | – | – | 14,461 |
| Catherine M. Mazzeo SVP/Chief Legal/Comp. Officer | Feb 19, 2026 | Award | +2,233.01 | – | – | 16,694 |
| Karen S. Haller President and CEO | Feb 19, 2026 | Award | +16,755.92 | – | – | 165,599 |
| Karen S. Haller President and CEO | Feb 19, 2026 | Award | +33,304.39 | – | – | 198,904 |
| Brian E. Sandoval Director | Feb 19, 2026 | Award | +1,725.57 | – | – | 3,299 |
| E. Renae Conley Director | Feb 19, 2026 | Award | +2,588.36 | – | – | 12,282 |
| Amy L. Timperley SVP/Chief Reg. & Public Aff. | Feb 19, 2026 | Award | +4,323.1 | – | – | 16,301 |
| Amy L. Timperley SVP/Chief Reg. & Public Aff. | Feb 19, 2026 | Award | +2,823.99 | – | – | 11,978 |
| Anne L. Mariucci Director | Feb 19, 2026 | Award | +1,725.57 | – | – | 50,100 |
| Jane Lewis-Raymond Director | Feb 19, 2026 | Award | +1,725.57 | – | – | 17,474 |
| Justin S. Forsberg SVP/Chief Financial Officer | Feb 19, 2026 | Award | +1,513.59 | – | – | 7,382 |
| Justin S. Forsberg SVP/Chief Financial Officer | Feb 19, 2026 | Award | +3,570.15 | – | – | 5,868 |
| Henry P. Linginfelter Director | Feb 19, 2026 | Award | +1,725.57 | – | – | 10,046 |
| Carlos Ruisanchez Director | Feb 19, 2026 | Award | +1,725.57 | – | – | 10,693 |
| Fabio A. Pineda VP/Controller/CAO | Feb 19, 2026 | Award | +1,213.85 | – | – | 2,417 |
| Justin L. Brown President/Southwest Gas Corp. | Jan 9, 2026 | Sale(10b5-1 plan) | −3,028 | $81.08 | $245.51K | 6,320 |
| Justin S. Forsberg SVP/Chief Financial Officer | Jan 8, 2026 | Tax withholding | −407.88 | $80.15 | $32.69K | 2,298 |
| Randall P. Gabe SVP/Chief Administrative OFC | Jan 8, 2026 | Tax withholding | −1,036.53 | $80.15 | $83.08K | 18,217 |
| Fabio A. Pineda VP/Controller/CAO | Jan 8, 2026 | Tax withholding | −249.89 | $80.15 | $20.03K | 1,204 |
| Karen S. Haller President and CEO | Jan 8, 2026 | Tax withholding | −7,630.58 | $80.15 | $611.59K | 148,843 |
| Amy L. Timperley SVP/Chief Reg. & Public Aff. | Jan 8, 2026 | Tax withholding | −864.18 | $80.15 | $69.26K | 9,154 |
| Catherine M. Mazzeo SVP/Chief Legal/Comp. Officer | Jan 8, 2026 | Tax withholding | −737.42 | $80.15 | $59.10K | 10,496 |
| Justin L. Brown President/Southwest Gas Corp. | Jan 8, 2026 | Tax withholding | −2,572.61 | $80.15 | $206.19K | 34,123 |
| Julie M. Williams SVP/Cont. Improvement and Opt. | Jan 8, 2026 | Tax withholding | −1,271.43 | $80.15 | $101.91K | 20,604 |
| Robert J. Stefani SVP/Chief Financial Officer | Nov 25, 2025 | Tax withholding | −4,483.94 | $80.44 | $360.69K | 28,444 |
| Carl C. Icahn 10% owner | Sep 25, 2025 | Sale | −1,500,000 | $77.91 | $116.87M | 6,032,604 |
| Brian E. Sandoval Director | Sep 10, 2025 | Buy | +24 | $78.57 | $1.89K | 1,562 |
| Karen S. Haller President and CEO | Sep 5, 2025 | Award | +42,157.04 | – | – | 170,406 |
| Karen S. Haller President and CEO | Sep 5, 2025 | Tax withholding | −16,588.79 | $78.60 | $1.30M | 153,817 |
| Robert J. Stefani SVP/CFO/Controller | Sep 5, 2025 | Tax withholding | −4,880.81 | $78.60 | $383.63K | 32,331 |
| Robert J. Stefani SVP/CFO/Controller | Sep 5, 2025 | Award | +12,546.74 | – | – | 37,211 |
| Fabio A. Pineda VP/Controller/CAO | Jul 17, 2025 | Award | +1,442.51 | – | – | 1,443 |
| Robert J. Stefani SVP/CFO/Controller | Jun 27, 2025 | Sale | −7,000 | $75.00 | $525.00K | 24,665 |
| Brian E. Sandoval Director | May 1, 2025 | Award | +1,537.97 | – | – | 1,538 |
| Robert J. Stefani SVP/Chief Financial Officer | Mar 28, 2025 | Sale | −2,000 | $72.55 | $145.10K | 31,665 |
| Carl C. Icahn 10% owner | Mar 24, 2025 | Sale | −2,100,000 | $74.60 | $156.66M | 7,532,604 |
| Justin L. Brown President/Southwest Gas Corp. | Mar 5, 2025 | Tax withholding | −3,211.48 | $76.89 | $246.93K | 36,205 |
| Karen S. Haller President and CEO | Mar 4, 2025 | Tax withholding | −5,417.66 | $70.71 | $383.08K | 128,249 |
| Lori L. Colvin VP/Controller/CAO | Mar 4, 2025 | Tax withholding | −424.36 | $70.71 | $30.01K | 8,567 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Julie M. Williams Officer | Sep 28, 2026 | 2,500 | $204.52K | Sep 28, 2026 | Dividend Reinvestment |
| Andrew Teno Director | Mar 4, 2026 | 8,211 | $724.62K | Mar 4, 2026 | RSU Vesting |
| Justin L. Brown Officer | Jan 9, 2026 | 3,028 | $245.51K | Jan 9, 2026 | Restricted Stock Vesting |
| Robert J. Stefani Officer | Jun 27, 2025 | 7,000 | $525.00K | Jun 27, 2025 | Restricted Stock Vesting |
| Robert J. Stefani Officer | Mar 28, 2025 | 2,000 | $145.10K | Mar 28, 2025 | Restricted Stock Vesting |
| Partners LP Icahn Stockholder | Nov 19, 2024 | 1,390,000 | $106.67M | Nov 19, 2024 | Open market purchases |
| J. Stefani Robert Officer | Aug 27, 2024 | 10,233 | $742.55K | Aug 27, 2024 | Restricted stock vesting under a registered plan |
| J. Stefani Robert Officer | Aug 26, 2024 | 767 | $56.10K | Aug 26, 2024 | Restricted stock vesting under a registered plan |
| Justin L. Brown Officer | May 10, 2024 | 2,625 | $200.68K | May 10, 2024 | Stock incentive compensation |
| Paul M. Daily Officer | Apr 1, 2024 | 2,000 | $150.32K | Apr 1, 2024 | Reinvested Dividends |
| Paul M. Daily Officer | Mar 1, 2024 | 1,000 | $69.15K | Mar 1, 2024 | Open Market Purchase |
| Paul M. Daily Officer | Dec 27, 2023 | 1,000 | $63.91K | Dec 27, 2023 | Open Market Purchase |