Southwest Airlines Co.
MX ˙ BMV ˙ US8447411088
SecurityMX:LUV / Southwest Airlines Co.
InstitutionEmpirical Finance, LLC
Latest Disclosed Ownership20,398 shares
Latest Disclosed Value $ 766,353
Empirical Finance, LLC reports 0.37% decrease in ownership of LUV / Southwest Airlines Co.

On May 14, 2026 - Empirical Finance, LLC filed a 13F-HR/A form disclosing ownership of 20,398 shares of Southwest Airlines Co. (MX:LUV) valued at $766,353 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 12, 2026 disclosing 20,474 shares of Southwest Airlines Co.. This represents a change in shares of -0.37% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

Upgrade to unlock premium data and export to Excel .

Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-14 2026-03-31 13F/A-1 SOUTHWEST AIRLS COM 844741108 20,398 -76 -0.37 766 -9.46 0.0360
2026-05-14 2026-03-31 13F SOUTHWEST AIRLS COM 844741108 20,398 -76 766 0.0360
2026-02-12 2025-12-31 13F SOUTHWEST AIRLS COM 844741108 20,474 -915 -4.28 846 24.05 0.0404
2025-11-13 2025-09-30 13F SOUTHWEST AIRLS COM 844741108 21,389 159 0.75 683 -0.87 0.0325
2025-08-11 2025-06-30 13F SOUTHWEST AIRLS COM 844741108 21,230 131 0.62 689 -2.82 0.0361
2025-05-07 2025-03-31 13F SOUTHWEST AIRLS COM 844741108 21,099 804 3.96 709 3.81 0.0428
2025-01-28 2024-12-31 13F SOUTHWEST AIRLS COM 844741108 20,295 -246 -1.20 682 12.17 0.0395
2024-11-06 2024-09-30 13F SOUTHWEST AIRLS COM 844741108 20,541 445 2.21 609 5.92 0.0355
2024-07-30 2024-06-30 13F SOUTHWEST AIRLS COM 844741108 20,096 -1,210 -5.68 575 -7.57 0.0359
2024-05-06 2024-03-31 13F SOUTHWEST AIRLS COM 844741108 21,306 733 3.56 622 4.55 0.0382
2024-02-14 2023-12-31 13F SOUTHWEST AIRLS COM 844741108 20,573 143 0.70 594 7.41 0.0414
2023-11-02 2023-09-30 13F SOUTHWEST AIRLS COM 844741108 20,430 2,201 12.07 553 -16.21 0.0406
2023-07-27 2023-06-30 13F SOUTHWEST AIRLS COM 844741108 18,229 1,946 11.95 660 24.76 0.0511
2023-04-05 2023-03-31 13F SOUTHWEST AIRLS COM 844741108 16,283 814 5.26 530 1.73 0.0496
2023-02-21 2022-12-31 13F/A-1 SOUTHWEST AIRLS COM 844741108 15,469 1,229 8.63 521 18.45 0.0539
2023-01-24 2022-12-31 13F SOUTHWEST AIRLS COM 844741108 15,469 1,229 1 0.0539
2022-11-04 2022-09-30 13F SOUTHWEST AIRLS COM 844741108 14,240 2,428 20.56 439 2.81 0.0521
2022-08-01 2022-06-30 13F SOUTHWEST AIRLS COM 844741108 11,812 629 5.62 427 -16.60 0.0544
2022-04-21 2022-03-31 13F SOUTHWEST AIRLS COM 844741108 11,183 2,304 25.95 512 34.74 0.0573
2022-02-04 2021-12-31 13F SOUTHWEST AIRLS COM 844741108 8,879 1,605 22.06 380 1.60 0.0449
2021-11-12 2021-09-30 13F SOUTHWEST AIRLS COM 844741108 7,274 421 6.14 374 2.75 0.0564
2021-08-10 2021-06-30 13F/A-1 SOUTHWEST AIRLS COM 844741108 6,853 -33,061 -82.83 364 -80.43 0.0593
2021-08-04 2021-06-30 13F SOUTHWEST AIRLS COM 844741108 39,914 0 1,860 0.3271
2021-05-13 2021-03-31 13F SOUTHWEST AIRLS COM 844741108 39,914 0 0.00 1,860 0.00 0.3271
2021-02-02 2020-12-31 13F SOUTHWEST AIRLS COM 844741108 39,914 1,111 2.86 1,860 27.84 0.3271
2020-10-28 2020-09-30 13F/A-1 SOUTHWEST AIRLS COM 844741108 38,803 -18,773 -32.61 1,455 -26.07 0.3118
2020-10-26 2020-09-30 13F SOUTHWEST AIRLS COM 844741108 26,658 -30,918 1,440 402,121.1893
2020-07-20 2020-06-30 13F/A-1 SOUTHWEST AIRLS COM 844741108 57,576 2,101 3.79 1,968 -0.35 0.5035
2020-07-20 2020-06-30 13F SOUTHWEST AIRLS COM 844741108 52,627 1,968
2020-04-16 2020-03-31 13F SOUTHWEST AIRLS COM 844741108 55,475 33,432 151.67 1,975 65.97 0.6139
2020-01-27 2019-12-31 13F SOUTHWEST AIRLS COM 844741108 22,043 -4,615 -17.31 1,190 -17.36 0.2894
2019-10-30 2019-09-30 13F SOUTHWEST AIRLS COM 844741108 26,658 -774 -2.82 1,440 3.37 0.4021
2019-07-09 2019-06-30 13F SOUTHWEST AIRLS COM 844741108 27,432 265 0.98 1,393 -1.21 0.3817
2019-05-10 2019-03-31 13F SOUTHWEST AIRLS COM 844741108 27,167 289 1.08 1,410 12.89 0.3588
2019-01-22 2018-12-31 13F SOUTHWEST AIRLS COM 844741108 26,878 26,878 -1.06 1,249 -11.42 0.3702
2018-07-09 2018-06-30 13F SOUTHWEST AIRLS COM 844741108 0 -27,167 -100.00 0 -100.00
2019-05-10 2018-03-31 13F SOUTHWEST AIRLS COM 844741108 27,167 27,167 1,410 0.2950
2017-05-11 2017-03-31 13F SOUTHWEST AIRLS COM 844741108 0 -307 -100.00 0 -100.00
2017-02-13 2016-12-31 13F SOUTHWEST AIRLS COM 844741108 307 307 16 0.0108
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.