Southwest Gas Holdings

SWX • NYSE

Southwest Gas Holdings is a regulated gas company in the utilities sector on NYSE, led by John P. Hester, with a market cap of $5.8B. As of Q3 2025, 92% of shares are held by 328 institutional investors, with BlackRock, Inc. as the largest holder at 13.68%.

CEOJohn P. Hester

Market Cap$5.8B

Regulated Gas

Utilities

Employees2.4K

Websiteswgasholdings.com

Country

United States of America

Overview

Overview of institutional ownership in SWX as of Q3 2025 with a market cap of $5.6B

All Institutions

Institutions: 328
Value Held: $5.2B
Shares Held: 66.0M
Avg Position: $15.8M
Median Position: $753.1K

Hedge Funds

Hedge Funds: 28
Value Held: $735.7M
Shares Held: 9.4M
Avg Position: $26.3M
Median Position: $2.9M

Ownership Breakdown

Institutional (non-HF)

78.65%

$4.4B

Hedge Funds

13.05%

$735.7M

Retail & Other

8.3%

$468.1M

Based on market cap of $5.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in SWX as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$771.5M 0.01% of portfolio	13.68% 9.8M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$552.5M 0.01% of portfolio	9.80% 7.1M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
I ICAHN CARL C Institution	-	$472.6M 5.17% of portfolio	8.38% 6.0M shares	Q3 2021 Held for 4y 2m	$9.1B
Corvex Management LP Hedge Fund•Event Driven	Keith Arlyn Meister Managing Partner	$394.1M 14.92% of portfolio	6.99% 5.0M shares	Q1 2022 Held for 3y 8m	$2.6B
FMR LLC Institution	-	$376.0M 0.02% of portfolio	6.67% 4.8M shares	≤ Q2 2013 Held for 12y 5m+	$1.92T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$185.7M 0.01% of portfolio	3.29% 2.4M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
M MAVERICK CAPITAL LTD Hedge Fund•Long/Short	Jessica Opland Managing Partner	$153.0M 2.02% of portfolio	2.71% 2.0M shares	Q4 2023 Held for 1y 11m	$7.6B
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$138.9M 0.01% of portfolio	2.46% 1.8M shares	≤ Q2 2013 Held for 12y 5m+	$1.56T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$124.8M 0.01% of portfolio	2.21% 1.6M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$116.6M 0.07% of portfolio	2.07% 1.5M shares	Q2 2025 Held for 5 months	$161.58B

Net Capital Flow

Institutional buying and selling activity for SWX in Q3 2025

Traded: +$4.3M
Buyers: 178
Sellers: 131
Total Bought: +$367.3M
Total Sold: −$363.0M
Avg Position: $14.2M

Biggest Buyers

Institution	Net Bought	Current Position
FMR LLC Institution	+$95.0M +1.2M shares	$376.0M 4.8M shares
JPMORGAN CHASE & CO Institution	+$82.6M +1.1M shares	$138.9M 1.8M shares
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	+$25.1M +320.1K shares	$39.3M 501.7K shares
T T. Rowe Price Investment Management, Inc. Insurance Manager	+$18.9M +241.3K shares	$116.6M 1.5M shares
Channing Capital Management, LLC Long Only Manager	+$17.7M +226.2K shares	$72.9M 930.7K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$16.2M +206.8K shares	$16.2M 206.8K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$8.7M +110.5K shares	$16.2M 206.3K shares
J JANE STREET GROUP, LLC Institution	+$7.6M +96.7K shares	$7.6M 96.7K shares
Sourcerock Group LLC Hedge Fund•Long/Short	+$6.2M +79.6K shares	$15.7M 199.8K shares
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	+$5.7M +72.4K shares	$5.7M 72.4K shares

Biggest Sellers

Institution	Net Sold	Current Position
I ICAHN CARL C Institution	−$117.5M −1.5M shares	$472.6M 6.0M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$31.1M −417.7K shares	Sold Off 0 shares
M Man Group plc Institution	−$20.9M −266.4K shares	$2.6M 32.7K shares
FULLER & THALER ASSET MANAGEMENT, INC. Long Only Manager	−$17.0M −217.2K shares	$84.5M 1.1M shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	−$15.7M −200.0K shares	$111.2M 1.4M shares
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC Long Only Manager	−$12.3M −165.0K shares	Sold Off 0 shares
R ROYAL BANK OF CANADA Institution	−$12.0M −152.8K shares	$12.9M 164.1K shares
Z Zimmer Partners, LP Hedge Fund•Long/Short	−$10.4M −132.5K shares	$60.5M 772.8K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$9.1M −115.6K shares	$959.9K 12.3K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$7.8M −99.1K shares	$12.2M 156.1K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited SWX in Q3 2025

New Positions: 14
New Value: $3.5M
Exited Positions: 36
Exited Value: $68.0M

New Positions

Institution	Position Value
E Entropy Technologies, LP Hedge Fund•Quant Macro	$1.2M 15.3K shares
E Elo Mutual Pension Insurance Co Institution	$1.0M 13.1K shares
ISAM Funds Ltd Hedge Fund•Quant	$925.1K 11.8K shares
Longboard Asset Management, LP Long Only Manager	$240.6K 3.1K shares
Sontag Advisory, LLC RIA/Wealth	$118.7K 1.5K shares
R Root Financial Partners, LLC RIA/Wealth	$8.9K 113.0 shares
FINANCIAL CONSULATE, INC RIA/Wealth	$8.3K 106.0 shares
Quent Capital, LLC Hedge Fund•Long/Short	$5.6K 72.0 shares
Triumph Capital Management RIA/Wealth	$3.9K 50.0 shares
High Note Wealth, LLC RIA/Wealth	$1.6K 20.0 shares

Exited Positions

Institution	Previous Position
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$31.1M 417.7K shares
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC Long Only Manager	$12.3M 165.0K shares
LAZARD ASSET MANAGEMENT LLC Long Only Manager	$4.1M 55.0K shares
Weiss Asset Management LP Hedge Fund•Multi-Strategy	$3.6M 48.9K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$3.0M 40.4K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	$2.7M 36.6K shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	$2.4M 31.8K shares
Graham Capital Management, L.P. Hedge Fund•Multi-Strategy	$1.9M 25.1K shares
Y Y-Intercept Ltd Institution	$976.3K 13.1K shares
NGAM ADVISORS, L.P. Long Only Manager	$801.3K 10.8K shares

Options Activity

Institutions with the largest Call and Put options positions in SWX as of Q3 2025

Call Positions: 4
Call Value: $3.2M
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$2.8M 355.0 contracts
W WOLVERINE TRADING, LLC Institution	$398.0K 51.0 contracts
L LMR Partners LLP Institution	- - contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with SWX as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Corvex Management LP Hedge Fund•Event Driven	Keith Arlyn Meister Managing Partner	14.92% $394.1M	6.99% 5.0M shares	Q1 2022 Held for 3y 8m	$2.6B
I ICAHN CARL C Institution	-	5.17% $472.6M	8.38% 6.0M shares	Q3 2021 Held for 4y 2m	$9.1B
13D Management LLC Hedge Fund•Long/Short	Kenneth Bradley Squire CIO	4.79% $5.0M	0.09% 63.8K shares	Q3 2022 Held for 3y 2m	$104.3M
M MAVERICK CAPITAL LTD Hedge Fund•Long/Short	Jessica Opland Managing Partner	2.02% $153.0M	2.71% 2.0M shares	Q4 2023 Held for 1y 11m	$7.6B
Channing Capital Management, LLC Long Only Manager	Rodney Bernard Herenton CEO	1.92% $72.9M	1.29% 930.7K shares	Q1 2022 Held for 3y 8m	$3.8B
Z Zimmer Partners, LP Hedge Fund•Long/Short	Stuart Jason Zimmer CEO	1.52% $60.5M	1.07% 772.8K shares	Q3 2024 Held for 1y 2m	$4.0B
MOODY ALDRICH PARTNERS LLC Long Only Manager	Daniel Brook Wanzenberg CIO	1.16% $6.1M	0.11% 78.4K shares	Q3 2022 Held for 3y 2m	$527.2M
Sourcerock Group LLC Hedge Fund•Long/Short	Andrew Michael Haley COO	1.06% $15.7M	0.28% 199.8K shares	Q2 2025 Held for 5 months	$1.5B
River Road Asset Management, LLC Long Only Manager	Richard Andrew Beck CEO	0.97% $86.5M	1.53% 1.1M shares	Q1 2021 Held for 4y 8m	$8.9B
Phocas Financial Corp. Long Only Manager	William Franz Kim Schaff CEO	0.85% $6.6M	0.12% 84.0K shares	Q1 2023 Held for 2y 8m	$771.4M

Hedge Fund Spotlight

Discover hedge funds investing in SWX

Magnetar Financial LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerDavid Jay Snyderman

Portfolio Value: $15.4B
Positions: 724
Last Reported: Q3 2025

Sector Allocation

Position in Southwest Gas Holdings

Market Value: $1.5M
Shares Held: 19.4K
Portfolio Weight: 0.01%
Owned Since: 2025-Q1

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