SCHEDULE: Carl Icahn and Icahn Enterprises Disclose 7.22% Stake in Centuri Holdings

Icahn Enterprises L.P. and Carl C. Icahn have disclosed a beneficial ownership of 7.22% in Centuri Holdings, Inc., holding 6,403,877 shares of common stock.

Summary

• Icahn Enterprises L.P. and Carl C. Icahn, collectively referred to as the Reporting Persons, have filed an Amendment No. 1 to Schedule 13G.
• The filing discloses their beneficial ownership in Centuri Holdings, Inc., a company with common stock, $0.01 par value, and CUSIP 155923105.
• The Reporting Persons beneficially own an aggregate of 6,403,877 shares of Centuri Holdings, Inc. common stock.
• This ownership represents approximately 7.22% of the Issuer's outstanding shares.
• The percentage is based on 88,649,154 shares outstanding as of June 13, 2025, as reported by Centuri Holdings, Inc. in its final prospectus dated June 16, 2025, and filed with the Securities and Exchange Commission on June 17, 2025.
• Both Icahn Enterprises L.P. and Carl C. Icahn hold sole voting power and sole dispositive power over these 6,403,877 shares, with no shared powers.
• The filing indicates that the securities were not acquired or held for the purpose of changing or influencing control of the issuer, except for activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 7

Explanation: The disclosure of a significant 7.22% stake in Centuri Holdings, Inc. by Icahn Enterprises L.P. and Carl C. Icahn, while a passive filing, can be viewed positively by the market. The involvement of a prominent investor like Carl Icahn often signals potential for increased shareholder value or strategic oversight, even if the filing explicitly states the shares are not held for control purposes, other than potential nominations.

Positives

• The document, a Schedule 13G filing, primarily discloses beneficial ownership and does not contain explicit statements regarding the issuer's financial performance or operational positives.
• The disclosure of a significant stake by a prominent investor like Carl Icahn may be perceived positively by some market participants, signaling confidence or potential future activism, though the filing itself is a passive disclosure.

Negatives

• The document, a Schedule 13G filing, primarily discloses beneficial ownership and does not contain explicit statements regarding the issuer's financial performance or operational negatives.

Risks

• The Schedule 13G filing is a disclosure of beneficial ownership and does not detail specific business or financial risks pertaining to Centuri Holdings, Inc.

Future Outlook

The Schedule 13G filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding Centuri Holdings, Inc.'s future performance or strategic outlook.

Management Comments

• The Reporting Persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, nor 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 Rule 14a-11.

Industry Context

This Schedule 13G filing primarily concerns a change in beneficial ownership by a significant investor and does not provide specific details on broader industry trends or competitive landscape for Centuri Holdings, Inc.

Comparison to Industry Standards

• The document is a beneficial ownership disclosure and does not contain financial or operational results that can be compared to industry standards or specific comparable companies or projects.

Stakeholder Impact

• Shareholders: The disclosure of a significant stake by a prominent investor like Carl Icahn could influence investor sentiment and potentially the stock price, signaling increased institutional interest or potential for future strategic developments.

Next Steps

• The document does not outline specific future actions or milestones for Centuri Holdings, Inc. or the Reporting Persons beyond the ongoing beneficial ownership.

Key Dates

Keywords

Centuri Holdings, Icahn Enterprises, Carl Icahn, Schedule 13G, Beneficial Ownership, Common Stock, Shareholding, Investment, SEC Filing