Vanguard Portfolio Management (SWX) holds 5.36% — 3.88M shares

Rhea-AI Filing Summary

Southwest Gas Holdings Inc reported that Vanguard Portfolio Management LLC beneficially owned 3,882,198 shares of Common Stock as of 03/31/2026. The filing shows this represents 5.36% of the class, with 26,431 shares subject to sole voting power and 3,882,198 shares subject to sole dispositive power. The Schedule 13G was signed on 04/29/2026 by Ashley Grim.

Insights

Institutional Ownership Analyst

Vanguard Portfolio Management reports a >5% passive stake in Southwest Gas.

Vanguard Portfolio Management LLC reports beneficial ownership of 3,882,198 shares, equal to 5.36% of common stock as of 03/31/2026. The position is disclosed on a Schedule 13G, indicating passive/beneficial ownership rather than an active Section 13(d) acquisition.

Voting and dispositive power split shows limited sole voting authority (26,431 shares) versus full dispositive control over the disclosed stake. Subsequent filings would show any changes to ownership or voting intent.

Key Figures

Beneficially owned: 3,882,198 shares Percent of class: 5.36% Sole voting power: 26,431 shares +3 more

6 metrics

Beneficially owned 3,882,198 shares Amount beneficially owned as of 03/31/2026

Percent of class 5.36% Percentage of common stock as of 03/31/2026

Sole voting power 26,431 shares Sole power to vote reported in Item 4

Sole dispositive power 3,882,198 shares Sole power to dispose reported in Item 4

CUSIP 844895102 Identifier for Southwest Gas common stock

Signature date 04/29/2026 Date Schedule 13G signed by Ashley Grim

Key Terms

Schedule 13G, Beneficially owned, Sole dispositive power, CUSIP

4 terms

Schedule 13G regulatory

"reports beneficial ownership of more than 5 percent of a class"

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.

Beneficially owned financial

"Amount beneficially owned: 3882198"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 3882198"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

CUSIP market

"CUSIP Number(s): 844895102"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

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

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Accepted by SEC EDGAR 04/29/2026 - 03:06 PM Learn about SEC filing dates

FAQ

What stake does Vanguard Portfolio Management hold in Southwest Gas Holdings (SWX)?

Vanguard Portfolio Management beneficially owns 3,882,198 shares, representing 5.36% of Southwest Gas common stock as of 03/31/2026. This figure and percentage are reported in the Schedule 13G filing signed on 04/29/2026.

Does Vanguard have voting control over the Southwest Gas shares reported?

The filing reports 26,431 shares as sole voting power and 0 shared voting power. Vanguard reports sole dispositive power for 3,882,198 shares, indicating control of sale decisions but limited voting authority shown.

What does filing a Schedule 13G mean for SWX ownership disclosure?

A Schedule 13G discloses passive beneficial ownership above 5%. It indicates the holder reports ownership but typically asserts a passive intent, rather than active control or an acquiring intent under Schedule 13D.

What is the reporting date and signature date on the Schedule 13G?

The ownership is stated as of 03/31/2026, and the Schedule 13G was signed by Ashley Grim, Head of Global Fund Administration, on 04/29/2026.

Where is the issuer's principal executive office listed in the filing?

The filing lists Southwest Gas Holdings Inc's principal executive offices at 5241 Spring Mountain Road, Las Vegas, NV, 89146, in the Schedule 13G issuer information section.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Southwest Gas Holdings Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

844895102

(CUSIP Number)

03/31/2026

(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): 844895102

1

Names of Reporting Persons

Vanguard Portfolio Management

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

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 26,431.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,882,198.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,882,198.00

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)

5.36 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management LLC and the following affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates: Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power. This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Portfolio Management LLC, or business divisions of such subsidiaries whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Southwest Gas Holdings Inc
(b)	Address of issuer's principal executive offices: 5241 Spring Mountain Road, Las Vegas, NV, 89146
Item 2.
(a)	Name of person filing: Vanguard Portfolio Management
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 844895102
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: 3882198
(b)	Percent of class: 5.36 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 26431
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 3882198
	(iv) Shared power to dispose or to direct the disposition of: 0
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. Vanguard Portfolio Management, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
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.

Vanguard Portfolio Management

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	04/29/2026