Southwest Airlines

LUV • NYSE

Southwest Airlines is a airlines, airports & air services company in the industrials sector on NYSE, led by Robert E. Jordan, with a market cap of $21.1B. As of Q3 2025, 98% of shares are held by 741 institutional investors, with VANGUARD GROUP INC as the largest holder at 11.62%.

Chief Executive OfficerRobert E. Jordan

Market Cap$21.1B

Airlines, Airports & Air Services

Industrials

Employees74.7K

Websitesouthwest.com

Country

United States of America

Overview

Overview of institutional ownership in LUV as of Q3 2025 with a market cap of $16.8B

All Institutions

Institutions: 741
Value Held: $16.4B
Shares Held: 512.8M
Avg Position: $22.1M
Median Position: $353.1K

Hedge Funds

Hedge Funds: 52
Value Held: $2.7B
Shares Held: 83.9M
Avg Position: $51.5M
Median Position: $2.3M

Ownership Breakdown

Institutional (non-HF)

81.68%

$13.7B

Hedge Funds

15.97%

$2.7B

Retail & Other

2.35%

$393.8M

Based on market cap of $16.8B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in LUV as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$1.9B 0.03% of portfolio	11.62% 61.0M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
Elliott Investment Management L.P. Hedge Fund•Multi-Strategy	Jonathan D Pollock CEO	$1.6B 11.97% of portfolio	9.74% 51.1M shares	Q2 2024 Held for 1y 5m	$13.6B
PRIMECAP MANAGEMENT CO/CA/ Long Only Manager	Mohammed Mohsin Ansari Chairman	$1.5B 1.19% of portfolio	9.14% 48.0M shares	≤ Q2 2013 Held for 12y 5m+	$128.84B
FRANKLIN RESOURCES INC Institution	Gregory E. Johnson CEO	$1.2B 0.30% of portfolio	7.14% 37.5M shares	Q1 2015 Held for 10y 8m	$395.36B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.0B 0.04% of portfolio	6.20% 32.6M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
B BlackRock, Inc. Institution	-	$912.4M 0.02% of portfolio	5.44% 28.6M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
UBS Group AG Institution	Sergio P. Ermotti CEO	$902.5M 0.18% of portfolio	5.39% 28.3M shares	Q4 2014 Held for 10y 11m	$511.54B
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	Robert W Sharps President	$592.8M 0.06% of portfolio	3.54% 18.6M shares	≤ Q2 2013 Held for 12y 5m+	$912.31B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$415.2M 0.03% of portfolio	2.48% 13.0M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$393.6M 0.09% of portfolio	2.35% 12.3M shares	≤ Q2 2013 Held for 12y 5m+	$433.11B

Net Capital Flow

Institutional buying and selling activity for LUV in Q3 2025

Traded: +$470.6M
Buyers: 316
Sellers: 367
Total Bought: +$1.8B
Total Sold: −$1.3B
Avg Position: $19.5M

Biggest Buyers

Institution	Net Bought	Current Position
UBS Group AG Institution	+$573.7M +18.0M shares	$902.5M 28.3M shares
GOLDMAN SACHS GROUP INC Institution	+$175.2M +5.5M shares	$283.9M 8.9M shares
Interval Partners, LLC Hedge Fund•Long/Short	+$128.2M +4.0M shares	$128.2M 4.0M shares
AMERIPRISE FINANCIAL INC Institution	+$119.8M +3.8M shares	$393.6M 12.3M shares
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	+$73.2M +2.3M shares	$73.9M 2.3M shares
C Crake Asset Management LLP Institution	+$69.7M +2.2M shares	$102.8M 3.2M shares
FRANKLIN RESOURCES INC Institution	+$69.0M +2.2M shares	$1.2B 37.5M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$43.7M +1.4M shares	$85.1M 2.7M shares
JPMORGAN CHASE & CO Institution	+$40.2M +1.3M shares	$389.9M 12.2M shares
N NATIXIS Institution	+$37.8M +1.2M shares	$38.6M 1.2M shares

Biggest Sellers

Institution	Net Sold	Current Position
C Capital World Investors Institution	−$274.7M −8.5M shares	Sold Off 0 shares
VANGUARD GROUP INC Institution	−$163.4M −5.1M shares	$1.9B 61.0M shares
Elliott Investment Management L.P. Hedge Fund•Multi-Strategy	−$90.9M −2.9M shares	$1.6B 51.1M shares
B BlackRock, Inc. Institution	−$83.9M −2.6M shares	$912.4M 28.6M shares
FMR LLC Institution	−$76.6M −2.4M shares	$116.9M 3.7M shares
STATE STREET CORP Institution	−$60.8M −1.9M shares	$1.0B 32.6M shares
C Capitolis Liquid Global Markets LLC Private Equity	−$49.5M −1.6M shares	$72.6M 2.3M shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$40.1M −1.3M shares	$282.8M 8.9M shares
P PAR CAPITAL MANAGEMENT INC Hedge Fund•Long/Short	−$30.9M −967.3K shares	$158.0M 5.0M shares
J JANE STREET GROUP, LLC Institution	−$30.7M −960.6K shares	$539.5K 16.9K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited LUV in Q3 2025

New Positions: 27
New Value: $15.9M
Exited Positions: 97
Exited Value: $356.8M

New Positions

Institution	Position Value
Silver Point Capital L.P. Hedge Fund•Distressed	$11.2M 350.0K shares
F Farringdon Capital, Ltd. Institution	$1.3M 41.5K shares
Voleon Capital Management LP Hedge Fund•Quant	$1.2M 39.0K shares
SUMMIT WEALTH GROUP LLC / CO RIA/Wealth	$468.3K 17.3K shares
CenterBook Partners LP Hedge Fund•Market Neutral	$373.4K 11.7K shares
Requisite Capital Management, LLC RIA/Wealth	$309.2K 9.7K shares
T TEMA ETFS LLC Institution	$296.5K 9.3K shares
A4 Wealth Advisors LLC RIA/Wealth	$222.3K 7.0K shares
Arista Wealth Management, LLC RIA/Wealth	$204.7K 6.4K shares
N NewEdge Wealth, LLC Institution	$204.3K 6.5K shares

Exited Positions

Institution	Previous Position
C Capital World Investors Institution	$274.7M 8.5M shares
M MIZUHO MARKETS AMERICAS LLC Institution	$24.3M 750.0K shares
Y Y-Intercept Ltd Institution	$6.9M 212.1K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$4.1M 125.3K shares
Kingstone Capital Partners Texas, LLC RIA/Wealth	$3.7M 114.8K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	$3.6M 111.4K shares
INSPIRE TRUST CO, N.A. Private Equity	$3.2M 100.0K shares
STATE OF WISCONSIN INVESTMENT BOARD RIA/Wealth	$3.0M 92.3K shares
E Entropy Technologies, LP Hedge Fund•Quant Macro	$2.8M 86.8K shares
O Oak Thistle LLC Institution	$2.6M 80.6K shares

Options Activity

Institutions with the largest Call and Put options positions in LUV as of Q3 2025

Call Positions: 37
Call Value: $415.7M
Put Positions: 38
Put Value: $569.2M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$100.5M 31.5K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$78.1M 24.5K contracts
GOLDMAN SACHS GROUP INC Institution	$35.6M 11.1K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$34.2M 10.7K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$19.8M 6.2K contracts
W WOLVERINE TRADING, LLC Institution	$16.4M 5.0K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$15.7M 4.9K contracts
R ROYAL BANK OF CANADA Institution	$14.8M 4.6K contracts
Walleye Trading LLC RIA/Wealth	$14.3M 4.5K contracts
BANK OF AMERICA CORP /DE/ Institution	$11.1M 3.5K contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$184.0M 57.7K contracts
GOLDMAN SACHS GROUP INC Institution	$60.7M 19.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$58.7M 18.4K contracts
Candlestick Capital Management LP Hedge Fund•Long/Short	$42.8M 13.4K contracts
W WOLVERINE TRADING, LLC Institution	$27.7M 8.5K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$23.3M 7.3K contracts
Walleye Trading LLC RIA/Wealth	$21.0M 6.6K contracts
J JANE STREET GROUP, LLC Institution	$17.8M 5.6K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$15.2M 4.8K contracts
CITIGROUP INC Institution	$15.1M 4.7K contracts

Most Committed Institutions

Institutions with LUV as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Elliott Investment Management L.P. Hedge Fund•Multi-Strategy	Jonathan D Pollock CEO	11.97% $1.6B	9.74% 51.1M shares	Q2 2024 Held for 1y 5m	$13.6B
U U S GLOBAL INVESTORS INC Institution	Frank Edward Holmes CEO	9.62% $85.0M	0.51% 2.7M shares	Q2 2015 Held for 10y 5m	$883.9M
Oldfield Partners LLP Long Only Manager	Nigel Owen Waller CEO	8.60% $27.5M	0.16% 863.3K shares	Q1 2022 Held for 3y 8m	$320.3M
Kiltearn Partners LLP Long Only Manager	Murdoch Ross Murchison CEO	5.47% $27.3M	0.16% 855.4K shares	Q3 2020 Held for 5y 2m	$498.9M
C Crake Asset Management LLP Institution	-	4.67% $102.8M	0.61% 3.2M shares	Q2 2025 Held for 5 months	$2.2B
P PAR CAPITAL MANAGEMENT INC Hedge Fund•Long/Short	William David Moeykens President	4.66% $158.0M	0.94% 5.0M shares	Q1 2020 Held for 5y 8m	$3.4B
K KETTLE HILL CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Afroz Qadeer CEO	3.91% $17.4M	0.10% 544.5K shares	Q4 2024 Held for 11 months	$444.5M
Interval Partners, LLC Hedge Fund•Long/Short	Raymond Peter Fernandez President	2.73% $128.2M	0.76% 4.0M shares	Q1 2025 Held for 8 months	$4.7B
SOUND SHORE MANAGEMENT INC /CT/ Long Only Manager	Theodore Gibbs Kane Chairman	2.68% $81.0M	0.48% 2.5M shares	Q4 2024 Held for 11 months	$3.0B
TOWLE & CO Long Only Manager	Christopher Daly Towle CEO	2.67% $10.6M	0.06% 331.8K shares	Q4 2023 Held for 1y 11m	$396.4M