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American billionaire Carl Icahn sold about $30.1 million of stock in Centuri Holdings Inc., the utility services contractor, over four trading days this week, trimming one of his newer holdings.
Icahn sold 1,500,433 shares between Nov. 9 and Nov. 12, according to Form 4 filings with the U.S. Securities and Exchange Commission. He sold 625,570 shares on Nov. 9 at $21 each for about $13.1 million, and 374,430 shares on Nov. 10, also at $21, for about $7.9 million.
He then sold 175,733 shares on Nov. 11 at an average of $19.72, worth about $3.5 million, and 324,700 shares on Nov. 12 at $17.50, worth about $5.7 million.
Icahn held 12,835,611 Centuri shares after the last sale, down from 14,336,044 before the run of disposals began. That is roughly 13% of the company. At Centuri's Nov. 12 price of $22.26, the remaining stake is worth about $285.7 million. The company has a market value of about $2.25 billion.
From buyer to seller
The sales mark a turn for Icahn, who added to his position a year ago. He acquired 3,488,372 Centuri shares in November 2025, filings show.
Phoenix-based Centuri builds and maintains pipelines, power lines and other infrastructure for gas and electric utilities across the U.S. and Canada. It was carved out of Southwest Gas Holdings Inc. and listed on the New York Stock Exchange in April 2024. Icahn had built a large stake in Southwest Gas years earlier and fought a proxy battle at the gas utility in 2021 and 2022.
Even after the sales, Icahn remains one of Centuri's largest shareholders.
A Wall Street raider
Icahn, 90, made his name as a corporate raider in the 1980s with fights at Trans World Airlines and Texaco, and later pushed for changes at companies including Apple Inc., eBay Inc. and Netflix Inc. He runs his investments through Icahn Enterprises L.P., the Nasdaq-listed holding company in which he owns a large majority.
His fortune has shrunk since 2023, when short seller Hindenburg Research accused Icahn Enterprises of running a "ponzi-like" dividend structure, a claim Icahn rejected. The company's units fell sharply and he later restructured personal loans backed by his holdings. He remains on the Forbes list of the world's billionaires.
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