SOUTHWEST AIRLINES CO.
boothcheck covers SOUTHWEST AIRLINES CO. (LUV) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed June 27, 2026.
• Southwest is executing the biggest commercial overhaul in its history, ending open seating and free-bags-for-all to add assigned seating, premium options, and bag fees, which lifted first-quarter passenger revenue 13.4% with 60% of customers buying up from the base product [Source: Southwest Q1 FY2026 results, April 2026]. • The biggest risk is that the overhaul moves Southwest onto the network carriers' turf, where Delta and United have decades more experience in premium products and fees, wh
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842 institutional managers reported holding LUV in 13F filings for the quarter ended 2026-03-31. Together they hold about 86% of the company; the top 10 hold 57%. 126 opened new positions that quarter. Held by Vanguard Group, PRIMECAP Management, Franklin Resources, among others. On the short side, 32.0M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (5.7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
LUV has cut its share count 15.7% over the past five years, spending $4.12B on repurchases. It pays a dividend, and has for 3 years running; the current rate is $0.72 a share annually. Cash returned over the past three years: $1.14B in dividends and $4.12B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at LUV over the trailing three years: 2024: 194 buys totaling $107.70M; 2025: 30 buys totaling $1.08M. 24 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
LUV's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-29 | -7.1% | -19.7% |
| 2023-10-31 | -5.3% | +28.1% |
| 2024-02-07 | +3.3% | -9.0% |
| 2024-04-27 | -7.8% | +5.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
LUV's latest 8-K filings: 2026-08-12 (items 1.01, 1.02, 2.03, 9.01); 2026-08-10 (items 5.02); 2026-08-07 (items 5.02); 2026-07-22 (items 2.02, 9.01); 2026-05-19 (items 1.01, 2.03).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.