SEC FORM 13F-HR

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE

OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8

Report for the Calendar Year or Quarter Ended: 03-31-2026
Check here if Amendment checkbox unchecked Amendment Number:
This Amendment (Check only one.): checkbox unchecked is a restatement.
checkbox unchecked adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: IES Holdings, Inc.
Address: 13131 Dairy Ashford Road
Suite 500
Houston, TX  77478
Form 13F File Number: 028-26282
CRD Number (if applicable):
SEC File Number (if applicable):

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:
Name: Mary Newman
Title: Chief Administrative Officer and General Counsel
Phone: 713-860-1500
Signature, Place, and Date of Signing:
/s/ Mary Newman HoustonTX 05-15-2026
[Signature] [City, State] [Date]
Report Type (Check only one.):
checkbox checked 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
checkbox unchecked 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
checkbox unchecked 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)
Form 13F Summary Page
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 13
Form 13F Information Table Value Total: 213,982,826
(round to nearest dollar)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]
NONE

SEC FORM 13-F Information Table

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
American Tower Corp CL A 03027X100   16,826,550 97,500 SH   SOLE   97,500 0 0
Antero Resources Corp COM 03674X106   13,793,000 325,000 SH   SOLE   325,000 0 0
CECO Environmental Corp COM 125141101   33,872,839 568,527 SH   SOLE   568,527 0 0
Coterra Energy Inc COM 127097103   20,205,500 575,000 SH   SOLE   575,000 0 0
Forum Energy Technologies Inc COM 34984V209   13,198,500 225,000 SH   SOLE   225,000 0 0
Manitowoc Co Inc/The COM 563571405   15,872,950 1,362,485 SH   SOLE   1,362,485 0 0
Mistras Group Inc COM 60649T107   16,561,655 1,120,545 SH   SOLE   1,120,545 0 0
Quanex Building Products Corp COM 747619104   15,475,207 861,169 SH   SOLE   861,169 0 0
Range Resources Corp COM 75281A109   13,413,129 296,882 SH   SOLE   296,882 0 0
Ranger Energy Services Inc COM 75282U104   29,076,947 1,696,438 SH   SOLE   1,696,438 0 0
RPC Inc COM 749660106   17,784,217 2,511,895 SH   SOLE   2,511,895 0 0
Team Inc COM 878155308   1,195,532 75,002 SH   SOLE   75,002 0 0
Unisys Corp COM 909214306   6,706,800 3,240,000 SH   SOLE   3,240,000 0 0