SCHEDULE: Icahn Discloses 12.24% Passive Stake in Centuri Holdings

Icahn Enterprises and Carl C. Icahn have reported a 12.24% passive beneficial ownership stake in Centuri Holdings, Inc.

Summary

• Icahn Enterprises L.P. and Carl C. Icahn collectively reported beneficial ownership of 10,847,672 shares of Centuri Holdings, Inc. common stock.
• This stake represents approximately 12.24% of Centuri Holdings' outstanding shares.
• The ownership percentage is calculated based on 88,649,154 shares outstanding as of September 2, 2025.
• The Reporting Persons hold sole voting and sole dispositive power over all reported shares.
• The filing certifies that the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 7

Explanation: The disclosure of a significant passive stake by a well-known investor like Carl Icahn is generally viewed as a positive signal of confidence in the company's value, although the 'passive' nature limits immediate implications for strategic changes.

Positives

• The presence of a significant, well-known investor like Carl C. Icahn and Icahn Enterprises L.P. holding a 12.24% stake may signal confidence in Centuri Holdings, Inc.'s long-term value.
• A large passive stake can provide a degree of stability to the shareholder base.

Future Outlook

The filing does not provide forward-looking statements or guidance from Centuri Holdings, Inc. It is a disclosure of a beneficial ownership stake by an external party.

Industry Context

The filing indicates a significant passive investment by a prominent investor group in Centuri Holdings, Inc., a company likely involved in infrastructure or utility services. Such investments can sometimes precede increased shareholder engagement or, in other cases, simply reflect a belief in the company's long-term prospects within its industry.

Stakeholder Impact

• Shareholders: The presence of a significant, well-known investor like Carl C. Icahn may instill confidence and potentially attract further investor interest, potentially influencing share price.
• Management: While the investment is declared passive, management may be aware of the increased scrutiny that often accompanies a large stake held by a prominent investor.

Key Dates

Recommendation

The disclosure of a substantial passive stake (12.24%) by a prominent investor like Carl C. Icahn and Icahn Enterprises L.P. in Centuri Holdings, Inc. suggests a belief in the company's underlying value. While the 'passive' nature indicates no immediate intent to influence control, the presence of such a significant shareholder can be a positive signal for the market. Investors might consider holding their positions, as this development could attract further attention to the stock, though it doesn't provide a basis for a strong buy or sell recommendation without further operational or financial details.

Keywords

Centuri Holdings, Icahn Enterprises, Carl C. Icahn, Beneficial Ownership, Schedule 13G, Passive Investment, Shareholder Stake, Public Utility Services, Infrastructure