Carronade Capital Management (CTRI) reports 5.5% Centuri Holdings stake on Schedule 13G

Rhea-AI Filing Summary

Carronade Capital Management, LP and Dan Gropper report beneficial ownership of Centuri Holdings, Inc. common stock on a Schedule 13G. They report beneficial ownership of 5,516,741 shares of common stock, including 220,900 shares issuable upon exercise of call options. Based on 100,934,662 shares outstanding as of May 4, 2026, this represents 5.5% of the common stock. The reporting persons have no sole voting or dispositive power but report shared voting and shared dispositive power over all 5,516,741 shares through investment authority over certain funds and accounts.

Key Figures

Shares beneficially owned: 5,516,741 shares Ownership percentage: 5.5% Shares outstanding: 100,934,662 shares +3 more

6 metrics

Shares beneficially owned 5,516,741 shares Common Stock beneficially owned by the reporting persons

Ownership percentage 5.5% Percent of Centuri Holdings common stock class owned

Shares outstanding 100,934,662 shares Common Stock outstanding as of May 4, 2026

Shares issuable via call options 220,900 shares Common Stock issuable upon exercise of call options included in ownership

Shared voting power 5,516,741 shares Shares over which reporting persons have shared voting power

Shared dispositive power 5,516,741 shares Shares over which reporting persons have shared dispositive power

Key Terms

beneficially own, shared voting power, shared dispositive power, Schedule 13G, +1 more

5 terms

beneficially own financial

"may be deemed to beneficially own the shares of Common Stock"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

shared voting power financial

"Shared Voting Power 5,516,741.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 5,516,741.00"

Schedule 13G regulatory

"The percentage set forth in this is calculated based upon"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

registered investment adviser financial

"The Investment Manager is a registered investment adviser"

A registered investment adviser (RIA) is a firm or individual legally registered with regulators to give personalized investment advice and manage clients' money, with a duty to put clients’ interests ahead of their own. Think of an RIA as a licensed financial guide who must disclose fees, conflicts and how they are paid; that transparency and legal duty matter to investors because it reduces the risk of hidden costs or biased recommendations.

FAQ

What percentage of Centuri Holdings (CTRI) does Carronade Capital Management report owning?

Carronade Capital Management and Dan Gropper report beneficial ownership of 5.5% of Centuri Holdings’ common stock. This percentage is based on 100,934,662 shares outstanding as of May 4, 2026, as stated in a registration statement.

How many Centuri Holdings (CTRI) shares are reported as beneficially owned on this Schedule 13G?

The reporting persons disclose beneficial ownership of 5,516,741 shares of Centuri Holdings common stock. This total includes 220,900 shares issuable upon exercise of call options held for certain funds and accounts managed by the investment adviser.

Does Carronade Capital Management have sole or shared voting power over Centuri Holdings (CTRI) shares?

The reporting persons state they have 0 shares with sole voting power and 5,516,741 shares with shared voting power. They likewise report no sole dispositive power and shared dispositive power over 5,516,741 shares of common stock.

Who are the reporting persons on the Centuri Holdings (CTRI) Schedule 13G?

The Schedule 13G is filed by Carronade Capital Management, LP and Dan Gropper. Carronade is described as a registered investment adviser, and Gropper, as managing member of the general partner, may be deemed to beneficially own the reported shares.

How is the 5.5% ownership in Centuri Holdings (CTRI) calculated in this filing?

The filing explains that the 5.5% ownership is calculated using 5,516,741 beneficially owned shares divided by 100,934,662 shares of common stock outstanding as of May 4, 2026, as reported in a company registration statement.

What type of securities linked to Centuri Holdings (CTRI) options are included in the reported ownership?

The reported position includes common stock plus 220,900 shares of common stock issuable upon exercise of call options. These option-related shares are held for certain funds and accounts advised by Carronade and are included in the beneficial ownership calculation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/14/2026 - 04:12 PM Accepted by SEC EDGAR 08/14/2026 - 04:05 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Centuri Holdings, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

155923105

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 155923105

1

Names of Reporting Persons

Carronade Capital Management, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,516,741.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,516,741.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,516,741.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

IA, PN

Comment for Type of Reporting Person: Includes 220,900 shares of Common Stock issuable upon exercise of call options.

SCHEDULE 13G

CUSIP Number(s): 155923105

1

Names of Reporting Persons

Dan Gropper

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,516,741.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,516,741.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,516,741.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

HC, IN

Comment for Type of Reporting Person: Includes 220,900 shares of Common Stock issuable upon exercise of call options.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Centuri Holdings, Inc.
(b)	Address of issuer's principal executive offices: 19820 North 7th Avenue, Suite 120, Phoenix, AZ 85027
Item 2.
(a)	Name of person filing: This statement is filed by Carronade Capital Management, LP (the "Investment Manager") and Dan Gropper (the "Mr. Gropper"). The foregoing persons are hereinafter sometimes referred to as the "Reporting Persons." The Investment Manager is a registered investment adviser and serves as the investment manager to certain funds and accounts (the "Carronade Funds"), and may be deemed to beneficially own the shares of Common Stock, par value $0.01 per share (the "Common Stock), of Centuri Holdings, Inc. (and the shares of Common Stock issuable upon exercise of call options) held by the Carronade Funds. Mr. Gropper, as the Managing Member of Carronade Capital Management GP, LLC, the general partner of the Investment Manager, indirectly controls the Investment Manager and may be deemed to beneficially own the shares of Common Stock (and the shares of Common Stock issuable upon exercise of call options) held by the Carronade Funds. The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the securities reported herein.
(b)	Address or principal business office or, if none, residence: Carronade Capital Management, LP 17 Old Kings Highway South Darien, CT 06820 Dan Gropper c/o Carronade Capital Management, LP 17 Old Kings Highway South Darien, CT 06820
(c)	Citizenship: Carronade Capital Management, LP - Delaware Mr. Gropper - United States of America
(d)	Title of class of securities: Common Stock, par value $0.01 per share
(e)	CUSIP Number(s): 155923105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 100,934,662 shares of Common Stock outstanding as of May 4, 2026, as reported in the Company's Registration Statement on Form S-3, filed with the Securities and Exchange Commission on May 13, 2026.
(b)	Percent of class: 5.5%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(ii) Shared power to vote or to direct the vote: The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 2(a).
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Carronade Capital Management, LP

Signature:	/s/ Rinarisa Coronel DeFronze
Name/Title:	By: Rinarisa Coronel DeFronze, Chief Compliance Officer & Counsel
Date:	08/14/2026

Dan Gropper

Signature:	/s/ Dan Gropper
Name/Title:	Dan Gropper, Individually
Date:	08/14/2026

Exhibit Information

Exhibit 99.1: Joint Filing Agreement