LUVNYSEAir Transportation, ScheduledFiscal year ends December 31
SOUTHWEST AIRLINES CO
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 23, 2026
$38.80−0.70 (-1.77%)
Close on Oct 19, 2026
- Market cap
- $19.13B
- P/E (TTM)
- 24.6
- Dividend yield
- 1.86%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
92.9%
455M of 489M shares
Institutional holders
928
168 new, 95 sold out
Net institutional buying
19M
In Q2 2026
Insider trades, 12 months
0 buys · 2 sales
Net sold $306.53K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Franklin Templeton, Inc. | 49,730,439 | 10.20% | 13G (passive) amendment | Sep 30, 2026 |
| Primecap Management Co/Ca/ | 49,003,285 | 10.02% | 13G (passive) amendment | Sep 30, 2026 |
| Franklin Resources, Inc. | 44,386,408 | 9.00% | 13G (passive) amendment | Mar 31, 2026 |
| Vanguard Capital Management | 35,624,805 | 7.25% | 13G (passive) | Mar 31, 2026 |
| BlackRock, Inc. | 32,943,061 | 5.50% | 13G (passive) amendment | Dec 31, 2023 |
| State Street Corporation | – | 6.82% | 13G (passive) amendment | Dec 31, 2023 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of LUV | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Primecap Management Co/Ca/ | 48,797,725 | 9.97% | $2.51B | +1,728,230 | 1.48% |
| Franklin Resources Inc | 46,578,090 | 9.52% | $2.40B | +2,191,682 | 0.52% |
| Vanguard Capital Management LLC | 31,614,180 | 6.46% | $1.63B | −30,452 | 0.03% |
| BlackRock, Inc. | 29,917,962 | 6.12% | $1.54B | +1,344,681 | 0.02% |
| State Street Corp | 29,326,975 | 5.99% | $1.51B | −192,816 | 0.04% |
| Elliott Investment Management L.P. | 24,308,000 | 4.97% | $1.25B | −6,038,000 | 5.51% |
| Vanguard Portfolio Management LLC | 23,999,965 | 4.91% | $1.23B | +869,817 | 0.06% |
| Price T Rowe Associates Inc /Md/ | 13,905,409 | 2.84% | $715.02K | +10,710 | 0.07% |
| Geode Capital Management, LLC | 12,739,007 | 2.60% | $653.86M | −236,713 | 0.03% |
| Ameriprise Financial Inc | 10,777,353 | 2.20% | $554.00M | +792,921 | 0.11% |
| Goldman Sachs Group Inc | 10,409,159 | 2.13% | $535.24M | +6,890,529 | 0.05% |
| FMR LLC | 9,621,712 | 1.97% | $494.75M | −141,948 | 0.02% |
| JPMorgan Chase & Co | 8,864,414 | 1.81% | $457.40M | +4,462,978 | 0.03% |
| Crake Asset Management LLP | 7,065,875 | 1.44% | $363.33M | +4,145,899 | 8.69% |
| Invesco Ltd. | 6,953,490 | 1.42% | $357.55M | +436,104 | 0.03% |
| UBS Group AG | 6,534,122 | 1.34% | $335.98M | +3,990,742 | 0.04% |
| Dimensional Fund Advisors LP | 6,054,557 | 1.24% | $311.35M | +291,403 | 0.06% |
| Morgan Stanley | 5,991,193 | 1.22% | $308.07M | +260,188 | 0.02% |
| Bank Of America Corp /De/ | 5,276,832 | 1.08% | $271.33M | −996,251 | 0.02% |
| Par Capital Management Inc | 4,905,756 | 1.00% | $252.25M | −313,436 | 6.25% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 928 | 455M | 92.9% | 168 / 309 | 283 / 95 | 53M | 34M |
| Q1 2026 | 870 | 435M | 89.0% | 144 / 284 | 281 / 107 | 100M | 86M |
| Q4 2025 | 850 | 486M | 99.4% | 174 / 226 | 289 / 72 | 48M | 86M |
| Q3 2025 | 765 | 528M | 100.0% | 82 / 249 | 272 / 98 | 69M | 44M |
| Q2 2025 | 793 | 505M | 100.0% | 113 / 239 | 301 / 128 | 43M | 67M |
| Q1 2025 | 815 | 530M | 100.0% | 104 / 259 | 296 / 108 | 62M | 81M |
| Q4 2024 | 834 | 551M | 100.0% | 139 / 244 | 282 / 92 | 38M | 31M |
| Q3 2024 | 798 | 546M | 100.0% | 112 / 221 | 321 / 69 | 122M | 84M |
| Q2 2024 | 764 | 542M | 100.0% | 92 / 233 | 287 / 109 | 94M | 47M |
| Q1 2024 | 787 | 496M | 100.0% | 106 / 236 | 308 / 98 | 50M | 27M |
| Q4 2023 | 790 | 486M | 99.4% | 121 / 216 | 325 / 89 | 42M | 34M |
| Q3 2023 | 767 | 478M | 97.7% | 78 / 233 | 318 / 155 | 45M | 34M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of LUV | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Primecap Fund | 26,361,018 | 5.39% | $1.36B | 1.41% | Jun 30, 2026 |
| Putnam Large Cap Value Fund | 19,190,753 | 3.92% | $863.01M | 1.56% | Jul 31, 2026 |
| Vanguard Total Stock Market Index Fund | 15,514,620 | 3.17% | $797.76M | 0.03% | Jun 30, 2026 |
| Vanguard 500 Index Fund | 12,663,293 | 2.59% | $651.15M | 0.04% | Jun 30, 2026 |
| Vanguard Mid-Cap Index Fund | 10,590,838 | 2.16% | $544.58M | 0.24% | Jun 30, 2026 |
| Vanguard Capital Opportunity Fund | 8,724,619 | 1.78% | $448.62M | 1.37% | Jun 30, 2026 |
| iShares Core S&P 500 ETF | 6,723,103 | 1.37% | $345.70M | 0.04% | Jun 30, 2026 |
| Putnam Focused Large Cap Value ETF | 6,649,962 | 1.36% | $285.62M | 2.58% | May 29, 2026 |
| Fidelity 500 Index Fund | 6,287,422 | 1.29% | $270.04M | 0.03% | May 31, 2026 |
| Vanguard Primecap Core Fund | 5,629,089 | 1.15% | $289.45M | 1.60% | Jun 30, 2026 |
| Vanguard Value Index Fund | 4,647,958 | 0.95% | $239.00M | 0.09% | Jun 30, 2026 |
| Invesco S&P 500 Equal Weight ETF | 4,502,016 | 0.92% | $202.46M | 0.21% | Jul 31, 2026 |
| T. Rowe Price Equity Income Fund | 3,724,000 | 0.76% | $191.49M | 1.08% | Jun 30, 2026 |
| Fidelity Growth Company Fund | 3,198,134 | 0.65% | $137.36M | 0.14% | May 31, 2026 |
| Vanguard Mid-Cap Value Index Fund | 3,139,316 | 0.64% | $161.42M | 0.43% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Robert E. Jordan | CEO & President, Director | 647,823 | 0.13% | Aug 7, 2026 |
| Jimmy Ryan Martinez | Principal Accounting Officer | 28,862 | 0.01% | Sep 17, 2026 |
| Andrew M. Watterson | Chief Operating Officer | 227,941 | 0.05% | Aug 7, 2026 |
| Anthony Roach | Chief Customer & Brand Officer | 73,258 | 0.01% | Aug 7, 2026 |
| Justin Jones | EVP & Chief Commercial Officer | 85,784 | 0.02% | Aug 7, 2026 |
| Tom Doxey | EVP, Chief Financial Officer | 111,116 | 0.02% | Aug 7, 2026 |
| Lauren Tauscher Woods | EVP & CIO | 56,658 | 0.01% | Aug 7, 2026 |
| Ryan C. Green | EVP Chief Transformation Ofr. | 92,936 | 0.02% | Mar 18, 2025 |
| Tammy Romo | EVP & CFO | 285,858 | 0.06% | Feb 25, 2025 |
| Linda B. Rutherford | Chief Administration Officer | 120,933 | 0.02% | Feb 25, 2025 |
| Jason T. Liberty | Director | 3,787 | 0.00% | Aug 11, 2026 |
| Varun Krishna | Director | 3,787 | 0.00% | Aug 11, 2026 |
| Robert L. Fornaro | Director | 13,537 | 0.00% | May 11, 2026 |
| Pierre R. Breber | Director | 57,537 | 0.01% | May 11, 2026 |
| Douglas H. Brooks | Director | 84,223 | 0.02% | May 11, 2026 |
| David P. Hess | Director | 32,682 | 0.01% | May 11, 2026 |
| Christopher P. Reynolds | Director | 28,440 | 0.01% | May 11, 2026 |
| Lisa M. Atherton | Director | 15,648 | 0.00% | May 11, 2026 |
| Sarah Feinberg | Director | 18,605 | 0.00% | May 11, 2026 |
| Patricia A. Watson | Director | 22,048 | 0.00% | May 11, 2026 |
| David Grissen | Director | 13,537 | 0.00% | May 11, 2026 |
| Gregg A. Saretsky | Director | 20,899 | 0.00% | Aug 7, 2025 |
| Rakesh Gangwal | Director | 3,611,729 | 0.74% | May 16, 2025 |
| C. David Cush | Director | 24,429 | 0.00% | May 16, 2025 |
| Investment Management L.P. Elliott | 10% owner | 59,912,580 | 12.25% | Oct 30, 2024 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Jimmy Ryan Martinez Principal Accounting Officer | Sep 15, 2026 | Award | +2,697 | – | – | 27,941 |
| Jimmy Ryan Martinez Principal Accounting Officer | Aug 21, 2026 | Tax withholding | −179 | $40.38 | $7.23K | 25,244 |
| Jason T. Liberty Director | Aug 10, 2026 | Award | +3,787 | – | – | 3,787 |
| Varun Krishna Director | Aug 10, 2026 | Award | +3,787 | – | – | 3,787 |
| Andrew M. Watterson Chief Operating Officer | Aug 5, 2026 | Award | +2,995 | – | – | 209,840 |
| Lauren Tauscher Woods EVP & CIO | Aug 5, 2026 | Award | +7,598 | – | – | 56,658 |
| Tom Doxey EVP, Chief Financial Officer | Aug 5, 2026 | Award | +6,316 | – | – | 111,116 |
| Robert E. Jordan CEO & President, Director | Aug 5, 2026 | Award | +28,321 | – | – | 534,055 |
| Justin Jones EVP & Chief Commercial Officer | Aug 5, 2026 | Award | +8,568 | – | – | 85,784 |
| Anthony Roach Chief Customer & Brand Officer | Aug 5, 2026 | Award | +9,506 | – | – | 73,179 |
| Pierre R. Breber Director | May 7, 2026 | Award | +4,108 | – | – | 13,537 |
| Patricia A. Watson Director | May 7, 2026 | Award | +4,108 | – | – | 20,769 |
| Douglas H. Brooks Director | May 7, 2026 | Award | +4,108 | – | – | 84,223 |
| Christopher P. Reynolds Director | May 7, 2026 | Award | +4,108 | – | – | 28,440 |
| Robert L. Fornaro Director | May 7, 2026 | Award | +4,108 | – | – | 13,537 |
| Sarah Feinberg Director | May 7, 2026 | Award | +4,108 | – | – | 18,337 |
| David Grissen Director | May 7, 2026 | Award | +4,108 | – | – | 13,537 |
| Lisa M. Atherton Director | May 7, 2026 | Award | +4,108 | – | – | 15,648 |
| David P. Hess Director | May 7, 2026 | Award | +4,108 | – | – | 32,682 |
| Lisa M. Atherton Director | Apr 7, 2026 | Sale | −118 | $37.95 | $4.48K | 0 |
| Anthony Roach EVP Customer & Brand | Mar 21, 2026 | Tax withholding | −2,179 | $39.41 | $85.87K | 63,673 |
| Tom Doxey EVP, Chief Financial Officer | Mar 21, 2026 | Tax withholding | −11,447 | $39.41 | $451.13K | 104,800 |
| Robert E. Jordan CEO & President, Director | Mar 16, 2026 | Award | +92,867 | – | – | 505,734 |
| Jimmy Ryan Martinez Principal Accounting Officer | Mar 16, 2026 | Award | +7,294 | – | – | 25,423 |
| Andrew M. Watterson Chief Operating Officer | Mar 16, 2026 | Award | +35,092 | – | – | 206,845 |
| Lauren Tauscher Woods EVP & CIO | Mar 16, 2026 | Award | +18,950 | – | – | 49,060 |
| Justin Jones EVP Operations | Mar 16, 2026 | Award | +23,863 | – | – | 77,216 |
| Anthony Roach EVP Customer & Brand | Mar 16, 2026 | Award | +22,058 | – | – | 65,852 |
| Tom Doxey EVP, Chief Financial Officer | Mar 16, 2026 | Award | +28,199 | – | – | 116,247 |
| Jimmy Ryan Martinez Principal Accounting Officer | Feb 21, 2026 | Tax withholding | −2,755 | $52.09 | $143.51K | 18,129 |
| Lauren Tauscher Woods EVP & CIO | Feb 21, 2026 | Tax withholding | −4,585 | $52.09 | $238.83K | 30,110 |
| Andrew M. Watterson Chief Operating Officer | Feb 21, 2026 | Tax withholding | −17,942 | $52.09 | $934.60K | 171,753 |
| Anthony Roach EVP Customer & Brand | Feb 21, 2026 | Tax withholding | −3,658 | $52.09 | $190.55K | 43,794 |
| Robert E. Jordan CEO & President, Director | Feb 21, 2026 | Tax withholding | −38,742 | $52.09 | $2.02M | 412,867 |
| Justin Jones EVP Operations | Feb 21, 2026 | Tax withholding | −8,507 | $52.09 | $443.13K | 53,353 |
| Justin Jones EVP Operations | Dec 5, 2025 | Sale | −8,085 | $37.36 | $302.06K | 61,860 |
| Douglas H. Brooks Director | Dec 2, 2025 | Gift | −1,836 | – | – | 0 |
| Douglas H. Brooks Director | Dec 2, 2025 | Gift | −1,836 | – | – | 0 |
| Jimmy Ryan Martinez Principal Accounting Officer | Aug 21, 2025 | Tax withholding | −68 | $31.07 | $2.11K | 20,884 |
| Andrew M. Watterson Chief Operating Officer | Aug 18, 2025 | Discretionary | +17,926 | $31.31 | $561.26K | 17,926 |
| Gregg A. Saretsky Director | Aug 6, 2025 | Buy | +600 | $30.03 | $18.02K | 20,899 |
| Gregg A. Saretsky Director | Aug 6, 2025 | Buy | +2,745 | $30.03 | $82.43K | 23,644 |
| Sarah Feinberg Director | Aug 5, 2025 | Buy | +1,300 | $30.01 | $39.01K | 14,029 |
| Sarah Feinberg Director | Aug 5, 2025 | Buy | +200 | $30.01 | $6.00K | 14,229 |
| David Grissen Director | May 14, 2025 | Award | +5,418 | – | – | 9,429 |
| Sarah Feinberg Director | May 14, 2025 | Award | +5,418 | – | – | 12,729 |
| Douglas H. Brooks Director | May 14, 2025 | Award | +5,418 | – | – | 81,306 |
| Robert L. Fornaro Director | May 14, 2025 | Award | +5,418 | – | – | 9,429 |
| Lisa M. Atherton Director | May 14, 2025 | Award | +5,418 | – | – | 11,540 |
| Pierre R. Breber Director | May 14, 2025 | Award | +5,418 | – | – | 9,429 |
| Patricia A. Watson Director | May 14, 2025 | Award | +5,418 | – | – | 16,661 |
| Gregg A. Saretsky Director | May 14, 2025 | Award | +5,418 | – | – | 20,299 |
| Rakesh Gangwal Director | May 14, 2025 | Award | +5,418 | – | – | 3,611,729 |
| Christopher P. Reynolds Director | May 14, 2025 | Award | +5,418 | – | – | 24,332 |
| David P. Hess Director | May 14, 2025 | Award | +5,418 | – | – | 28,574 |
| C. David Cush Director | May 14, 2025 | Award | +5,418 | – | – | 24,429 |
| Gregg A. Saretsky Director | Apr 30, 2025 | Buy | +3,670 | $27.29 | $100.15K | 14,881 |
| Pierre R. Breber Director | Apr 29, 2025 | Buy | +400 | $26.90 | $10.76K | 39,119 |
| Pierre R. Breber Director | Apr 29, 2025 | Buy | +200 | $26.89 | $5.38K | 38,719 |
| Pierre R. Breber Director | Apr 29, 2025 | Buy | +68 | $26.88 | $1.83K | 38,519 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| C. David Cush Director | Feb 25, 2026 | 10,000 | $498.00K | Feb 25, 2026 | Equity Compensation |
| C. David Cush Director | Feb 25, 2026 | 10,000 | $498.00K | Feb 25, 2026 | equity compensation |
| Justin Jones Officer | Dec 5, 2025 | 8,085 | $302.06K | Dec 5, 2025 | Restricted Stock Vesting |
| Ryan C. Green Officer | Jun 6, 2025 | 20,910 | $688.79K | Jun 6, 2025 | Restricted Stock Vesting |
| Linda B. Rutherford Officer | Dec 6, 2024 | 3,849 | $132.39K | Dec 6, 2024 | Restricted Stock Vesting |
| Ryan C. Green Officer | May 2, 2023 | 4,936 | $147.79K | May 2, 2023 | Restricted Stock Vesting |