SWX at a glance
Southwest Gas Holdings, Inc. (SWX, SEC CIK 1692115) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 5, 2026 and Form 4 insider filings as recently as September 29, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Southwest Gas Holdings, Inc. (SWX) reported revenue of $1.9 billion (down 62.0% from FY2024) and net income of $439.8 million. Diluted EPS was $6.08.
- As of June 30, 2026, 33 institutional investment managers tracked by SignalX reported holding Southwest Gas Holdings, Inc. (SWX) shares worth $3.3 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Williams Julie M. on September 28, 2026 of 2,500 shares at $81.81 per share.
- In the last 90 days, SWX insiders reported 0 open-market purchases ($0) and 1 open-market sale ($205K) on Form 4, a net sale of $205K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $1.9B
- −62.0% vs prior year
- Insiders · 90 days
- 0 buys · 1 sell
- Net −$205K
- 13F holders
- 33 funds
- $3.3B · +0 vs prior quarter
- Latest 8-K
- Aug 5, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: regulated natural gas purchasing, distribution, and transportation to residential, commercial, industrial customers in AZ, NV, CA
- Segment change: deconsolidation of Centuri IPO in April 2024, now solely Natural Gas Distribution segment after August 2025
- Customer growth: 37,000 first-time meter sets added in 2025, serving approx. 2,281,000 customers
- Operating margin stable by customer class with 85% from residential/small commercial in 2025, unchanged from prior years
- Regulatory environment: decoupled rate mechanisms in AZ, NV, CA provide stable operating margin despite seasonal demand fluctuations
Risk Factors
- Regulatory risk in natural gas sector cybersecurity compliance led by Cybersecurity Executive Committee with legal advisor involvement
- Operational risk from cybersecurity threats monitored via biannual Board reviews and audit committee oversight of penetration test remediation
- No geopolitical or macroeconomic risks disclosed in risk factors section
- No competitor-related market disruption risks mentioned
- No specific financial or structural risks noted in cybersecurity governance discussion
Management Discussion & Analysis
- Revenue Natural Gas Distribution $1.94B in 2025 vs $2.48B in 2024, net cost of gas $498M vs $1.16B; Operating margin $1.44B up 9% YoY ($119.6M increase)
- Operating income Natural Gas Distribution $482.4M (25% margin approx.) in 2025 vs $412.7M in 2024; Contribution to net income $300.3M up $39.1M YoY
- Best segment Natural Gas Distribution $300.3M net income contribution in 2025; Worst, Corporate/Admin loss $(65.5)M, increase in net loss $25.3M YoY mainly due to $53.2M higher income tax expense
- Cash $576.6M year-end 2025; $1.3B net proceeds from Centuri sale used to repay $709M debt (including $550M term loan), pay dividends; Capex $840.2M in 2025
- Management outlook cautious on regulatory timing; 2024 Arizona rate case gave $80.2M rate increase effective March 2025; ongoing infrastructure projects including Great Basin Expansion with binding agreements
AI summary of the SWX 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Revenue $358.2M, down $38.2M YoY; net gas cost fell $63.7M
- Operating margin $319.7M vs $294.2M YoY, up $25.5M
- California strongest contributor, adding $19.5M margin from updated rates
- Cash $270.5M, nearly $1.0B available liquidity; $211.5M invested in capital projects
- No equity issuance expected in 2026; headwinds include inflation, high interest rates, and labor costs
Risk Factors
- No material changes to 2025 Form 10-K risk factors as of June 30, 2026
- No newly added risk factor during the quarter
- No new regulatory, legal, or compliance risk disclosed
- No updated operational, competitive, or market risk disclosed
- No updated liquidity, debt, currency, or concentration risk disclosed
AI summary of the SWX 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Q2 and first-half 2026 operating performance released publicly on August 5, 2026
- Summary financial information and press release available in Exhibit 99
Item 5.07: Submission of Matters to a Vote of Security Holders
- Annual meeting held May 7, 2026, with approximately 64,890,029 shares represented
- All 11 director nominees elected, with affirmative votes ranging from 60,974,923 to 61,368,753
Item 2.02: Results of Operations and Financial Condition
- Q1 2026 operating performance released for quarter ended March 31, 2026
- Public disclosure targets investors and broader market participants
AI summaries of SWX 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for SWX
Don't miss the next SWX filing
- Alerts as it files. A push when SWX files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut SWX, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Williams Julie M. | Sell | Sep 28, 2026 | 2,500 | $81.81 |
| Carson Molly R. | A | May 7, 2026 | 1,196.37 | - |
| Kim Leezie | A | May 7, 2026 | 1,196.37 | - |
| Timperley Amy L. | F | Feb 27, 2026 | 1,182.367 | $80.02 |
| Evans Andrew W | A | Feb 19, 2026 | 1,725.574 | - |
| Brown Justin L | Sell | Jan 9, 2026 | 3,028 | $81.08 |
| Pineda Fabio A | F | Jan 8, 2026 | 249.889 | $80.15 |
| Gabe Randall P. | F | Jan 8, 2026 | 1,036.527 | $80.15 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $5.1B | $1.9B |
| Operating Income | - | $483.8M | $473.9M |
| Net Income | $150.9M | $198.8M | $439.8M |
| Op. Margin | - | 9.5% | 24.4% |
| Net Margin | - | 3.9% | 22.7% |
| Balance Sheet | |||
| Total Assets | $11.9B | $12.0B | $10.4B |
| Equity | - | $3.5B | $4.0B |
| ROE | - | 5.7% | 11.1% |
| Per Share | |||
| EPS | $2.13 | $2.76 | $6.08 |
| Cash Flow | |||
| Operating CF | - | $1.4B | $556.1M |
| CapEx | $872.5M | $945.9M | $807.9M |
Source: XBRL data in Southwest Gas Holdings, Inc. (SWX)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate SWX share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 33 | $3.25B |
| Q1 2026 | 33 | $3.05B |
| Q4 2025 | 29 | $3.10B |
| Q3 2025 | 28 | $3.15B |
| Q2 2025 | 29 | $2.84B |
| Q1 2025 | 26 | $1.96B |
| Q4 2024 | 21 | $1.93B |
| Q3 2024 | 17 | $1.32B |
- AQR Capital Management+439.7K (+38%)
- BlackRock+434.1K (+4%)
- FMR LLC (Fidelity)+413.2K (+8%)
- State Street Corp+185.6K (+8%)
- Goldman Sachs Group+174.0K (+25%)
- Morgan Stanley−212.5K (-32%)
- Citadel Advisors LLC−199.3K (-46%)
- Invesco Ltd−166.3K (-39%)
- D.E. Shaw & Co−88.7K (-79%)
- Principal Financial Group−85.9K (-8%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 216 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
SWX filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 29, 2026 | - | - | - |
| 8-K | Aug 5, 2026 | - | Analysis | - |
| 10-Q | Aug 5, 2026 | Jun 30, 2026 | Analysis | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 8-K | May 11, 2026 | - | Analysis | |
| 8-K | May 5, 2026 | - | Analysis | - |
| 10-Q | May 5, 2026 | Mar 31, 2026 | Analysis | |
| SC 13G | Apr 29, 2026 | - | - | |
| 4 | Mar 3, 2026 | - | - | - |
| 10-K | Feb 25, 2026 | Dec 31, 2025 | Analysis | |
| 8-K | Feb 25, 2026 | - | Analysis | - |
| 8-K | Feb 25, 2026 | - | Analysis | - |
| 4 | Feb 23, 2026 | - | - | - |
| 8-K | Feb 12, 2026 | - | - | |
| 8-K | Feb 11, 2026 | - | - | |
| 4 | Jan 13, 2026 | - | - | |
| 4 | Jan 12, 2026 | - | - | |
| 4 | Jan 12, 2026 | - | - | |
| 4 | Jan 12, 2026 | - | - | |
| 4 | Jan 12, 2026 | - | - | |
| 4 | Jan 12, 2026 | - | - | |
| 4 | Jan 12, 2026 | - | - | |
| 4 | Jan 12, 2026 | - | - | |
| 4 | Jan 12, 2026 | - | - |
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SWX SEC filings: frequently asked questions
Are SWX insiders buying or selling?
In the last 90 days, Southwest Gas Holdings, Inc. (SWX) officers, directors and 10% owners reported no open-market purchases and 1 open-market sale worth $204,519 by 1 insider on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold SWX stock?
As of June 30, 2026, the largest Southwest Gas Holdings, Inc. (SWX) holders among the 13F filers tracked by SignalX were BlackRock ($991.5 million), FMR LLC (Fidelity) ($494.4 million), Vanguard Portfolio Management LLC ($352.4 million), Vanguard Capital Management LLC ($270.3 million), State Street Corp ($231.2 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was SWX's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Southwest Gas Holdings, Inc. (SWX) reported revenue of $1.9 billion (down 62.0% from FY2024) and net income of $439.8 million. Diluted EPS was $6.08. The figures come from the XBRL data in the 10-K.
What are the main risks in SWX's latest 10-K?
In the 10-K filed February 25, 2026, Southwest Gas Holdings, Inc. (SWX) flagged: Regulatory risk in natural gas sector cybersecurity compliance led by Cybersecurity Executive Committee with legal advisor involvement. Operational risk from cybersecurity threats monitored via biannual Board reviews and audit committee oversight of penetration test remediation. (AI summary of the Risk Factors section.)
What did SWX report in its latest 8-K?
Southwest Gas Holdings, Inc. (SWX) filed an 8-K on August 5, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Q2 and first-half 2026 operating performance released publicly on August 5, 2026.
What are the latest SWX SEC filings?
Southwest Gas Holdings, Inc. (SWX) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 5, 2026 and a Form 4 insider filing on September 29, 2026.
What is SWX's SEC CIK number?
Southwest Gas Holdings, Inc. (SWX)'s SEC Central Index Key (CIK) is 1692115. EDGAR lists every SWX filing under that number.
Ask anything about SWX
The research agent reads SWX's filings, financials, insider trades and 13F holders, then answers with sources.