# EDGAR Filing Document

**Accession Number:** 0001692115
**File Stem:** 0001539497-23-000462
**Filing Date:** 2023-3
**Character Count:** 31213
**Document Hash:** 6e03322315f15a72e25a30abbe563537
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-23-000462.hdr.sgml**: 20230317

**ACCESSION NUMBER**: 0001539497-23-000462

**CONFORMED SUBMISSION TYPE**: SC 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230317

**DATE AS OF CHANGE**: 20230317

**GROUP MEMBERS**: BECKTON CORP.

**GROUP MEMBERS**: ICAHN CAPITAL LP

**GROUP MEMBERS**: ICAHN ENTERPRISES G.P. INC.

**GROUP MEMBERS**: ICAHN ENTERPRISES HOLDINGS L.P.

**GROUP MEMBERS**: ICAHN OFFSHORE LP

**GROUP MEMBERS**: ICAHN ONSHORE LP

**GROUP MEMBERS**: ICAHN PARTNERS LP

**GROUP MEMBERS**: ICAHN PARTNERS MASTER FUND LP

**GROUP MEMBERS**: IEP UTILITY HOLDINGS LLC

**GROUP MEMBERS**: IPH GP LLC

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Southwest Gas Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001692115
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATURAL GAS TRANSMISSION & DISTRIBUTION [4923]
- **IRS NUMBER:** 813881866
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-89940
- **FILM NUMBER:** 23743755

**BUSINESS ADDRESS:**
- **STREET 1:** C/O SOUTHWEST GAS CORPORATION
- **STREET 2:** 8360 S. DURANGO DRIVE
- **CITY:** LAS VEGAS
- **STATE:** NV
- **ZIP:** 89113
- **BUSINESS PHONE:** 702-876-7237

**MAIL ADDRESS:**
- **STREET 1:** C/O SOUTHWEST GAS CORPORATION
- **STREET 2:** 8360 S. DURANGO DRIVE
- **CITY:** LAS VEGAS
- **STATE:** NV
- **ZIP:** 89113
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ICAHN CARL C
- **CENTRAL INDEX KEY:** 0000921669
- **STANDARD INDUSTRIAL CLASSIFICATION:** UNKNOWN SIC - 0000 [0000]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ICAHN ENTERPRISES L.P.
- **STREET 2:** 16690 COLLINS AVE., PH-1
- **CITY:** SUNNY ISLES BEACH
- **STATE:** FL
- **ZIP:** 33160
- **BUSINESS PHONE:** 305-422-4145

**MAIL ADDRESS:**
- **STREET 1:** C/O ICAHN ENTERPRISES L.P.
- **STREET 2:** 16690 COLLINS AVE., PH-1
- **CITY:** SUNNY ISLES BEACH
- **STATE:** FL
- **ZIP:** 33160

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ICAHN CARL C ET AL
- **DATE OF NAME CHANGE:** 19950612

**SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549**

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment 5)\*

<u>Southwest Gas Holdings, Inc.</u><br> (Name of Issuer)

<u>Common Stock, Par Value $1.00 per share</u><br> (Title of Class of Securities)

<u>844895102</u><br> (CUSIP Number)

Jesse A. Lynn

Chief Operating Officer

Icahn Capital LP

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

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

<u>March 17, 2023</u><br> (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 | CUSIP No. 844895102 | CUSIP No. 844895102 |
| (1) | NAME OF REPORTING PERSONS | NAME OF REPORTING PERSONS |
|  | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) |
|  | Icahn Partners Master Fund LP | Icahn Partners Master Fund LP |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ |
| (3) | SEC USE ONLY | SEC USE ONLY |
| (4) | SOURCE OF FUNDS<br>WC | SOURCE OF FUNDS<br>WC |
| (5) | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| (6) | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (7) | SOLE VOTING POWER<br>4,034,270 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (8) | SHARED VOTING POWER<br> 4,034,270 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (9) | SOLE DISPOSITIVE POWER<br>4,034,270 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (10) | SHARED DISPOSITIVE POWER<br> 4,034,270 |
| (11) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 4,034,270 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 4,034,270 |
| (12) | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ |
| (13) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>5.66% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>5.66% |
| (14) | TYPE OF REPORTING PERSON<br> PN | TYPE OF REPORTING PERSON<br> PN |

---

SCHEDULE 13D

---

| | | |
|:---|:---|:---|
| CUSIP No. 844895102 | CUSIP No. 844895102 | CUSIP No. 844895102 |
| (1) | NAME OF REPORTING PERSONS | NAME OF REPORTING PERSONS |
|  | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) |
|  | Icahn Offshore LP | Icahn Offshore LP |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ |
| (3) | SEC USE ONLY | SEC USE ONLY |
| (4) | SOURCE OF FUNDS<br>OO | SOURCE OF FUNDS<br>OO |
| (5) | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| (6) | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (7) | SOLE VOTING POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (8) | SHARED VOTING POWER<br> 4,034,270 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (9) | SOLE DISPOSITIVE POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (10) | SHARED DISPOSITIVE POWER<br> 4,034,270 |
| (11) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 4,034,270 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 4,034,270 |
| (12) | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ |
| (13) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>5.66% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>5.66% |
| (14) | TYPE OF REPORTING PERSON<br> PN | TYPE OF REPORTING PERSON<br> PN |

---

SCHEDULE 13D

---

| | | |
|:---|:---|:---|
| CUSIP No. 844895102 | CUSIP No. 844895102 | CUSIP No. 844895102 |
| (1) | NAME OF REPORTING PERSONS | NAME OF REPORTING PERSONS |
|  | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) |
|  | Icahn Partners LP | Icahn Partners LP |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ |
| (3) | SEC USE ONLY | SEC USE ONLY |
| (4) | SOURCE OF FUNDS<br>WC | SOURCE OF FUNDS<br>WC |
| (5) | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| (6) | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (7) | SOLE VOTING POWER<br>5,653,736  |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (8) | SHARED VOTING POWER<br> 5,653,736  |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (9) | SOLE DISPOSITIVE POWER<br>5,653,736  |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (10) | SHARED DISPOSITIVE POWER<br> 5,653,736  |
| (11) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 5,653,736  | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 5,653,736  |
| (12) | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ |
| (13) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) <br>7.93%  | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) <br>7.93%  |
| (14) | TYPE OF REPORTING PERSON<br> PN | TYPE OF REPORTING PERSON<br> PN |

---

SCHEDULE 13D

---

| | | |
|:---|:---|:---|
| CUSIP No. 844895102 | CUSIP No. 844895102 | CUSIP No. 844895102 |
| (1) | NAME OF REPORTING PERSONS | NAME OF REPORTING PERSONS |
|  | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) |
|  | Icahn Onshore LP | Icahn Onshore LP |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ |
| (3) | SEC USE ONLY | SEC USE ONLY |
| (4) | SOURCE OF FUNDS<br>OO | SOURCE OF FUNDS<br>OO |
| (5) | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| (6) | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (7) | SOLE VOTING POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (8) | SHARED VOTING POWER<br> 5,653,736  |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (9) | SOLE DISPOSITIVE POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (10) | SHARED DISPOSITIVE POWER<br> 5,653,736  |
| (11) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 5,653,736  | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 5,653,736  |
| (12) | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ |
| (13) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>7.93% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>7.93% |
| (14) | TYPE OF REPORTING PERSON<br> PN | TYPE OF REPORTING PERSON<br> PN |

---

SCHEDULE 13D

---

| | | |
|:---|:---|:---|
| CUSIP No. 844895102 | CUSIP No. 844895102 | CUSIP No. 844895102 |
| (1) | NAME OF REPORTING PERSONS | NAME OF REPORTING PERSONS |
|  | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) |
|  | Icahn Capital LP | Icahn Capital LP |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ |
| (3) | SEC USE ONLY | SEC USE ONLY |
| (4) | SOURCE OF FUNDS<br>OO | SOURCE OF FUNDS<br>OO |
| (5) | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| (6) | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (7) | SOLE VOTING POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (8) | SHARED VOTING POWER<br> 9,688,006 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (9) | SOLE DISPOSITIVE POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (10) | SHARED DISPOSITIVE POWER<br> 9,688,006 |
| (11) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,688,006 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,688,006 |
| (12) | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ |
| (13) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>13.58% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>13.58% |
| (14) | TYPE OF REPORTING PERSON<br> PN | TYPE OF REPORTING PERSON<br> PN |

---

SCHEDULE 13D

---

| | | |
|:---|:---|:---|
| CUSIP No. 844895102 | CUSIP No. 844895102 | CUSIP No. 844895102 |
| (1) | NAME OF REPORTING PERSONS | NAME OF REPORTING PERSONS |
|  | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) |
|  | IPH GP LLC | IPH GP LLC |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ |
| (3) | SEC USE ONLY | SEC USE ONLY |
| (4) | SOURCE OF FUNDS<br>OO | SOURCE OF FUNDS<br>OO |
| (5) | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| (6) | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (7) | SOLE VOTING POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (8) | SHARED VOTING POWER<br> 9,688,006 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (9) | SOLE DISPOSITIVE POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (10) | SHARED DISPOSITIVE POWER<br> 9,688,006 |
| (11) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,688,006 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,688,006 |
| (12) | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ |
| (13) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>13.58% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>13.58% |
| (14) | TYPE OF REPORTING PERSON<br> OO | TYPE OF REPORTING PERSON<br> OO |

---

SCHEDULE 13D

---

| | | |
|:---|:---|:---|
| CUSIP No. 844895102 | CUSIP No. 844895102 | CUSIP No. 844895102 |
| (1) | NAME OF REPORTING PERSONS | NAME OF REPORTING PERSONS |
|  | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) |
|  | Icahn Enterprises Holdings L.P. | Icahn Enterprises Holdings L.P. |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ |
| (3) | SEC USE ONLY | SEC USE ONLY |
| (4) | SOURCE OF FUNDS<br>OO | SOURCE OF FUNDS<br>OO |
| (5) | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| (6) | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (7) | SOLE VOTING POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (8) | SHARED VOTING POWER<br> 9,688,006 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (9) | SOLE DISPOSITIVE POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (10) | SHARED DISPOSITIVE POWER<br> 9,688,006 |
| (11) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,688,006 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,688,006 |
| (12) | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ |
| (13) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>13.58% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>13.58% |
| (14) | TYPE OF REPORTING PERSON<br> PN | TYPE OF REPORTING PERSON<br> PN |

---

SCHEDULE 13D

---

| | | |
|:---|:---|:---|
| CUSIP No. 844895102 | CUSIP No. 844895102 | CUSIP No. 844895102 |
| (1) | NAME OF REPORTING PERSONS | NAME OF REPORTING PERSONS |
|  | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) |
|  | Icahn Enterprises G.P. Inc. | Icahn Enterprises G.P. Inc. |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ |
| (3) | SEC USE ONLY | SEC USE ONLY |
| (4) | SOURCE OF FUNDS<br>OO | SOURCE OF FUNDS<br>OO |
| (5) | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| (6) | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (7) | SOLE VOTING POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (8) | SHARED VOTING POWER<br> 9,688,006 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (9) | SOLE DISPOSITIVE POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (10) | SHARED DISPOSITIVE POWER<br> 9,688,006 |
| (11) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,688,006 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,688,006 |
| (12) | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ |
| (13) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>13.58% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>13.58% |
| (14) | TYPE OF REPORTING PERSON<br> CO | TYPE OF REPORTING PERSON<br> CO |

---

SCHEDULE 13D

---

| | | |
|:---|:---|:---|
| CUSIP No. 844895102 | CUSIP No. 844895102 | CUSIP No. 844895102 |
| (1) | NAME OF REPORTING PERSONS | NAME OF REPORTING PERSONS |
|  | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) |
|  | Beckton Corp. | Beckton Corp. |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ |
| (3) | SEC USE ONLY | SEC USE ONLY |
| (4) | SOURCE OF FUNDS<br>OO | SOURCE OF FUNDS<br>OO |
| (5) | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| (6) | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (7) | SOLE VOTING POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (8) | SHARED VOTING POWER<br> 9,688,006 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (9) | SOLE DISPOSITIVE POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (10) | SHARED DISPOSITIVE POWER<br> 9,688,006 |
| (11) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,688,006 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,688,006 |
| (12) | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ |
| (13) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>13.58% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>13.58% |
| (14) | TYPE OF REPORTING PERSON<br> CO | TYPE OF REPORTING PERSON<br> CO |

---

SCHEDULE 13D

---

| | | |
|:---|:---|:---|
| CUSIP No. 844895102 | CUSIP No. 844895102 | CUSIP No. 844895102 |
| (1) | NAME OF REPORTING PERSONS | NAME OF REPORTING PERSONS |
|  | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) |
|  | IEP Utility Holdings LLC | IEP Utility Holdings LLC |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ |
| (3) | SEC USE ONLY | SEC USE ONLY |
| (4) | SOURCE OF FUNDS<br>WC | SOURCE OF FUNDS<br>WC |
| (5) | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| (6) | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware | CITIZENSHIP OR PLACE OF ORGANIZATION<br>Delaware |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (7) | SOLE VOTING POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (8) | SHARED VOTING POWER<br> 0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (9) | SOLE DISPOSITIVE POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (10) | SHARED DISPOSITIVE POWER<br> 0 |
| (11) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 0 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 0 |
| (12) | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ |
| (13) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>0% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>0% |
| (14) | TYPE OF REPORTING PERSON<br> OO | TYPE OF REPORTING PERSON<br> OO |

---

SCHEDULE 13D

---

| | | |
|:---|:---|:---|
| CUSIP No. 844895102 | CUSIP No. 844895102 | CUSIP No. 844895102 |
| (1) | NAME OF REPORTING PERSONS | NAME OF REPORTING PERSONS |
|  | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) |
|  | Carl C. Icahn | Carl C. Icahn |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)<br>(a) ☐<br> (b) ☐ |
| (3) | SEC USE ONLY | SEC USE ONLY |
| (4) | SOURCE OF FUNDS<br>OO | SOURCE OF FUNDS<br>OO |
| (5) | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| (6) | CITIZENSHIP OR PLACE OF ORGANIZATION<br>United States of America | CITIZENSHIP OR PLACE OF ORGANIZATION<br>United States of America |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (7) | SOLE VOTING POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (8) | SHARED VOTING POWER<br> 9,688,006 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (9) | SOLE DISPOSITIVE POWER<br>0 |
| Number of<br> Shares<br> Beneficially<br> Owned<br> by Each<br> Reporting<br> Person With | (10) | SHARED DISPOSITIVE POWER<br> 9,688,006 |
| (11) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,688,006 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 9,688,006 |
| (12) | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ |
| (13) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>13.58% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br>13.58% |
| (14) | TYPE OF REPORTING PERSON<br> IN | TYPE OF REPORTING PERSON<br> IN |

---

---

| | |
|:---|:---|
| **<u>Item 1</u>.** | **<u>Security and Issuer</u>.** |

---

This statement constitutes Amendment No. 5 to the Schedule 13D (as amended, the "<u>Schedule 13D</u>") relating to the shares of the common stock, par value $1.00 per share (the "<u>Shares</u>"), of Southwest Gas Holdings, Inc., a Delaware corporation (the "<u>Issuer</u>"), and hereby amends the Schedule 13D initially filed with the Securities and Exchange Commission (the "<u>SEC</u>") 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.

---

| | |
|:---|:---|
| **<u>Item 5</u>.** | **<u>Interest in Securities of the Issuer</u>.**<br>|

---

Item 5(a), (b) and (c) of the Schedule 13D is hereby amended by replacing it in its entirety with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As of the date hereof, the Reporting Persons may be deemed to beneficially own, in the aggregate, 9,688,006 Shares, representing approximately 13.58% of the Issuer's outstanding Shares, based on 71,324,826 Shares outstanding as of March 10, 2023, as disclosed by the Issuer in its prospectus supplement filed with the SEC on March 9, 2023 and the Form 8-K filed with the SEC on March 10, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Icahn Master has sole voting and sole dispositive power with respect to 4,034,270 Shares. 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 5,653,736 Shares. 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; however, IEP Utility has been included in this Schedule 13D as it is a signatory to the Amended and Restated Cooperation Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The following table sets forth all transactions by any of the Reporting Persons with respect to Shares effected since the last amendment to this Schedule 13D filed on March 10, 2023. All such transactions were purchases of Shares effected in open market transactions.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;<u>Name of Reporting Person</u> | &nbsp;&nbsp;<u>Date of Transaction</u> | &nbsp;&nbsp;<u>Amount of Securities</u> | &nbsp;&nbsp; <u>Price Per Share</u><br>|
| &nbsp;&nbsp;Icahn Partners LP | &nbsp;&nbsp;3/10/2023 | &nbsp;&nbsp; 175115 | &nbsp;&nbsp; $59.00 |
| &nbsp;&nbsp;Icahn Partners LP | &nbsp;&nbsp;3/13/2023 | &nbsp;&nbsp; 139383 | &nbsp;&nbsp; $59.89 |
| &nbsp;&nbsp;Icahn Partners LP | &nbsp;&nbsp;3/14/2023 | &nbsp;&nbsp; 138 | &nbsp;&nbsp; $60.12 |
| &nbsp;&nbsp;Icahn Partners LP | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp; 15358 | &nbsp;&nbsp; $60.09 |
| &nbsp;&nbsp;Icahn Partners LP | &nbsp;&nbsp;3/16/2023 | &nbsp;&nbsp; 12787 | &nbsp;&nbsp;$59.96 |
| &nbsp;&nbsp;Icahn Partners LP | &nbsp;&nbsp;3/17/2023 | &nbsp;&nbsp; 91236 | &nbsp;&nbsp; $60.11 |
| &nbsp;&nbsp;Icahn Partners Master Fund LP | &nbsp;&nbsp;3/10/2023 | &nbsp;&nbsp; 124885 | &nbsp;&nbsp;$59.00 |
| &nbsp;&nbsp;Icahn Partners Master Fund LP | &nbsp;&nbsp;3/13/2023 | &nbsp;&nbsp; 99402 | &nbsp;&nbsp; $59.89 |
| &nbsp;&nbsp;Icahn Partners Master Fund LP | &nbsp;&nbsp;3/14/2023 | &nbsp;&nbsp; 99 | &nbsp;&nbsp;$60.12 |
| &nbsp;&nbsp;Icahn Partners Master Fund LP | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp; 10952 | &nbsp;&nbsp; $60.09 |
| &nbsp;&nbsp;Icahn Partners Master Fund LP | &nbsp;&nbsp;3/16/2023 | &nbsp;&nbsp; 9120 | &nbsp;&nbsp; $59.96 |
| &nbsp;&nbsp;Icahn Partners Master Fund LP | &nbsp;&nbsp;3/17/2023 | &nbsp;&nbsp; 65066 | &nbsp;&nbsp; $60.11 |

---

\*\*\*\*\*

**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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dated: March 17, 2023<br>ICAHN PARTNERS LP<br> ICAHN ONSHORE LP<br> ICAHN PARTNERS MASTER FUND LP<br> ICAHN OFFSHORE LP<br> ICAHN CAPITAL LP<br> IPH GP LLC<br>By: <u>/s/ Jesse Lynn</u><br> Name: Jesse Lynn<br> Title: Chief Operating Officer<br>BECKTON CORP.<br>By: <u>/s/ Ted Papapostolou</u> <br> Name: Ted Papapostolou<br> Title: Vice President<br>ICAHN ENTERPRISES HOLDINGS L.P.<br> By: Icahn Enterprises G.P. Inc., its general partner<br> ICAHN ENTERPRISES G.P. INC.<br>By: <u>/s/ Ted Papapostolou</u> <br> Name: Ted Papapostolou<br> Title: Chief Accounting Officer<br>IEP UTILITY HOLDINGS LLC<br>By: <u>/s/ Ted Papapostolou</u> <br> Name: Ted Papapostolou<br> Title: Chief Financial Officer<br><u>/s/ Carl C. Icahn</u> <br> CARL C. ICAHN<br>[Signature Page of Schedule 13D Amendment No. 5 – SWX]<br>