Southwest Airlines Co.
US ˙ NYSE ˙ US8447411088

SecurityLUV / Southwest Airlines Co.
InstitutionLevel Four Advisory Services, Llc
Latest Disclosed Ownership12,033 shares
Latest Disclosed Value $ 452,110
Level Four Advisory Services, Llc reports 39.85% increase in ownership of LUV / Southwest Airlines Co.

On May 14, 2026 - Level Four Advisory Services, Llc filed a 13F-HR form disclosing ownership of 12,033 shares of Southwest Airlines Co. (US:LUV) valued at $452,080 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 8,604 shares of Southwest Airlines Co.. This represents a change in shares of 39.85% during the quarter. The current value of the position is $491,789 USD.

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.

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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 SOUTHWEST AIRLS COM 844741108 12,033 3,429 39.85 452 27.32 0.0148
2026-02-13 2025-12-31 13F SOUTHWEST AIRLS COM 844741108 8,604 622 7.79 356 39.76 0.0116
2025-11-12 2025-09-30 13F SOUTHWEST AIRLS COM 844741108 7,982 650 8.87 255 7.17 0.0087
2025-08-13 2025-06-30 13F SOUTHWEST AIRLS COM 844741108 7,332 -362 -4.70 238 -8.14 0.0088
2025-05-14 2025-03-31 13F SOUTHWEST AIRLS COM 844741108 7,694 -167 -2.12 258 -2.27 0.0106
2025-02-12 2024-12-31 13F SOUTHWEST AIRLS COM 844741108 7,861 7,861 264 0.0108
2022-05-10 2022-03-31 13F SOUTHWEST AIRLS COM 844741108 0 -6,459 -100.00 0 -100.00
2022-02-11 2021-12-31 13F SOUTHWEST AIRLS COM 844741108 6,459 -158 -2.39 277 -18.53 0.0211
2021-10-12 2021-09-30 13F SOUTHWEST AIRLS COM 844741108 6,617 -36,531 -84.66 340 -85.16 0.0354
2021-08-09 2021-06-30 13F SOUTHWEST AIRLS COM 844741108 43,148 -10,639 -19.78 2,291 -30.24 0.1584
2021-05-10 2021-03-31 13F SOUTHWEST AIRLS COM 844741108 53,787 -168 -0.31 3,284 30.58 0.2550
2021-02-10 2020-12-31 13F SOUTHWEST AIRLS COM 844741108 53,955 1,042 1.97 2,515 26.76 0.2019
2020-11-02 2020-09-30 13F SOUTHWEST AIRLS COM 844741108 52,913 1,261 2.44 1,984 12.66 0.1528
2020-08-17 2020-06-30 13F/A-1 SOUTHWEST AIRLS COM 844741108 51,652 51,652 1,761 0.1362
2020-05-13 2020-03-31 13F SOUTHWEST AIRLS COM 844741108 0 -4,322 -100.00 0 -100.00
2020-02-13 2019-12-31 13F SOUTHWEST AIRLS COM 844741108 4,322 -133 -2.99 264 9.54 0.0105
2019-11-12 2019-09-30 13F SOUTHWEST AIRLS COM 844741108 4,455 -2,080 -31.83 241 -27.41 0.0249
2019-08-14 2019-06-30 13F SOUTHWEST AIRLS COM 844741108 6,535 213 3.37 332 1.22 0.0335
2019-05-15 2019-03-31 13F SOUTHWEST AIRLS COM 844741108 6,322 -1,757 -21.75 328 -12.77 0.0361
2019-02-07 2018-12-31 13F SOUTHWEST AIRLS COM 844741108 8,079 -3,550 -30.53 376 -48.21 0.0469
2018-11-14 2018-09-30 13F SOUTHWEST AIRLS COM 844741108 11,629 5,529 90.64 726 134.19 0.0785
2018-08-14 2018-06-30 13F SOUTHWEST AIRLS COM 844741108 6,100 -2,076 -25.39 310 -33.76 0.0226
2018-05-14 2018-03-31 13F SOUTHWEST AIRLS COM 844741108 8,176 -859 -9.51 468 -20.81 0.0363
2018-02-13 2017-12-31 13F SOUTHWEST AIRLS COM 844741108 9,035 1,439 18.94 591 39.06 0.0460
2018-04-03 2017-09-30 13F/A-1 SOUTHWEST AIRLS COM 844741108 7,596 1,752 29.98 425 36.22 0.0377
2017-11-15 2017-09-30 13F SOUTHWEST AIRLS COM 844741108 5,785 -59 333
2017-09-20 2017-06-30 13F/A-1 SOUTHWEST AIRLS COM 844741108 5,844 -355 -5.73 312 -5.74 0.0480
2017-07-12 2017-06-30 13F SOUTHWEST AIRLS COM 844741108 5,844 -355 312
2017-09-20 2017-03-31 13F/A-1 SOUTHWEST AIRLS COM 844741108 6,199 -1,368 -18.08 331 -12.20 0.0337
2017-05-15 2017-03-31 13F SOUTHWEST AIRLS COM 844741108 6,199 -1,368 331
2017-02-14 2016-12-31 13F SOUTHWEST AIRLS COM 844741108 7,567 7,567 377 0.0481
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.