Southwest Airlines Co (LUV) shareholders
LUVNYSEAir Transportation, ScheduledFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 22, 2026Score 12/3015% below fair value
$44.94−0.29 (-0.64%)
Close on Nov 13, 2026Market cap $22.00BP/E 22.1Yield 1.60%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
92.8%
455M of 490M 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. Joint filing with Putnam Investment Management, LLC (7.60%) | 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. Joint filing with Putnam Investment Management, LLC (6.90%) | 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 Joint filing with State Street Global Advisors Trust Company (5.86%) | – | 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 | 9.51% | $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 | 6.11% | $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 | 4.96% | $1.25B | −6,038,000 | 5.51% |
| Vanguard Portfolio Management LLC | 23,999,965 | 4.90% | $1.23B | +869,817 | 0.06% |
| Price T Rowe Associates Inc /Md/ | 13,905,409 | 2.84% | $715.02M | +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 | 1.33% | $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 | 92.8% | 168 / 309 | 283 / 95 | 53M | 34M |
| Q1 2026 | 870 | 435M | 88.9% | 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 | 99.3% | 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)
657 funds held LUV in Q2 2026, 40% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of LUV | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Primecap Fund | 26,361,018 | 5.38% | $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 | 1.28% | $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 |
| 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 |
| Christopher P. Reynolds | Director | 28,440 | 0.01% | 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 |
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.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
5.36%
25M shares short
Days to cover
3.5
At 7M shares a day
Change since last report
+5.6%
From 23M shares
Short volume, 20 days
43.9%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of Southwest Airlines's stock actually held short. Settlement fails (shares not delivered on time) peaked at 892,333 shares on Oct 9, 2026 over the last 90 days.
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 |
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