Welcome to our dedicated page for Southwest Airls Co SEC filings (Ticker: LUV), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Southwest Airlines Co. (NYSE: LUV) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. As a public company in the Scheduled Passenger Air Transportation industry, Southwest uses these filings to report material events, financial results, capital markets transactions, and other information relevant to shareholders and bondholders.
Among the key documents are Form 10-K annual reports and Form 10-Q quarterly reports, which detail Southwest’s operating performance, risk factors, and management discussion and analysis. Investors can also review Form 8-K current reports, where Southwest discloses items such as earnings releases, updates to earnings expectations, new debt offerings, share repurchase authorizations, and other material definitive agreements. For example, recent 8-K filings describe the pricing and completion of senior notes offerings and revisions to projected earnings before interest and taxes (EBIT) in response to changes in demand and fuel costs.
This page also surfaces other SEC exhibits referenced in Southwest’s 8-Ks, such as underwriting agreements and forms of notes related to debt issuances. While insider trading reports on Form 4 and proxy statements on Schedule 14A are not summarized in the text above, they are part of the broader SEC record that investors often consult to understand executive share transactions and governance matters.
Stock Titan enhances these filings with AI-powered summaries that help explain complex legal and financial language, highlight key terms in lengthy documents like 10-Ks and 10-Qs, and point out notable changes across reporting periods. Real-time updates from EDGAR ensure that new Southwest filings appear promptly, allowing users to track capital structure changes, performance disclosures, and other regulatory information related to LUV without reading every line of the original documents.
Franklin Resources, Inc. reports beneficial ownership of 44,386,408 shares of Southwest Airlines common stock, representing 9.0% of the class as of March 31, 2026. The filing states this ownership aggregates equity previously reported separately for Franklin Mutual Advisers and Brandywine Global after an internal realignment.
The Schedule 13G/A lists Putnam Investment Management, LLC with 33,879,331 shares (6.9%) and itemizes subsidiary voting and dispositive power allocations across several advisory entities. The filing notes the reported shares are held for investment-management clients and that clients retain rights to dividends and sale proceeds.
Southwest Airlines Co. returned to profitability in Q1 2026, reporting net income of $227 million (diluted EPS $0.45) versus a net loss of $149 million a year earlier. Operating revenue rose 12.8% to $7.249 billion, a first‑quarter record, driven largely by new ancillary products such as bag fees and assigned and extra‑legroom seating.
Passenger revenue increased 13.4% to $6.591 billion, with passenger yield up 11.5% and load factor slightly higher at 74.1%. Operating expenses grew only 4.0%, as higher salaries and fuel were partly offset by lower maintenance and other costs, expanding operating income to $330 million from a $223 million loss.
Cash flow from operations strengthened to $1.418 billion, supporting $630 million of capital spending and $1.25 billion of share repurchases plus dividends. Southwest remains fully exposed to fuel price volatility, with Q1 fuel at $2.73 per gallon and significant 2026–2031 Boeing 737 MAX purchase commitments totaling about $14.8 billion.
Southwest Airlines reported a solid turnaround in first quarter 2026, posting net income of $227 million and diluted EPS of $0.45, compared with a loss a year earlier. Operating revenue reached $7.2 billion, up 12.8%, and operating margin improved to 4.6%, an 8.1‑point gain.
The company generated $1.4 billion in operating cash flow and returned over $1.3 billion to shareholders through buybacks and dividends. Record first‑quarter passenger and operating revenues, double‑digit unit revenue growth, and disciplined cost control offset significantly higher fuel costs of $2.73 per gallon.
For second quarter 2026, Southwest guides adjusted EPS to $0.35–$0.65, with unit revenues (RASM) expected to rise 16.5%–18.5% year over year and CASM‑X up 3.5%–4.0%. Management is maintaining a full‑year adjusted EPS goal of $4.00, contingent on fuel prices and revenue performance.
Southwest Airlines Co. director Lisa M. Atherton reported an indirect open-market sale of 118 shares of Common Stock at $37.95 per share on behalf of her spouse, reducing those indirect holdings to zero. She continues to hold 11,540 shares directly after the reported transactions.
Elliott Investment Management filed Amendment No. 14 to its Schedule 13D on Southwest Airlines, disclosing a reduced economic exposure for portfolio management purposes while remaining a significant shareholder. Elliott reports beneficial ownership of 24,308,000 shares of common stock, equal to 4.9% of the class, based on 491,075,748 shares outstanding as of March 11, 2026.
The Elliott funds directly invested approximately $658,076,071 to acquire their common stock position, which may be held in margin accounts. In addition to the shares, the Elliott funds hold cash-settled swaps referencing 1,231,000 shares (about 0.3% of the company) and several Swap Call Options with strike prices of $45.00, $60.00 and $62.50 expiring in April 2026 and June 2026.
Collectively, the swaps and options provide economic exposure comparable to about 3.5% of Southwest’s shares, and Elliott states it has combined economic exposure of approximately 8.5% of shares outstanding. Elliott explains that exposure was reduced for portfolio management reasons but expresses continued confidence in Southwest’s strategic initiatives, profitability goals and shareholder value potential.
Southwest Airlines Co: The Vanguard Group filed Amendment No. 13 to its Schedule 13G/A reporting 0 shares and 0% ownership of Southwest common stock.
The amendment states Vanguard completed an internal realignment on January 12, 2026, after which certain subsidiaries report beneficial ownership separately and Vanguard no longer is deemed to beneficially own securities held by those subsidiaries. The filing is signed on March 27, 2026.
Southwest Airlines Co. has released its 2026 proxy statement for a fully virtual annual meeting on May 7, 2026 at 4:00 p.m. Central Daylight Time. Shareholders of record at the close of business on March 11, 2026 may vote online, by phone, or by mail.
Investors are asked to elect eleven directors, approve an advisory vote on named executive officer compensation, and ratify Ernst & Young LLP as independent auditor for the fiscal year ending December 31, 2026. The board highlights strong governance features, including an independent chair, 9 of 11 directors deemed independent, annual elections by majority vote, proxy access, and robust share ownership and clawback policies, while prohibiting hedging and pledging of company stock.
The proxy emphasizes significant recent transformation, including assigned seating and new fare products, and reports roughly 25 percent total shareholder return in 2025. The company returned $2.9 billion to shareholders in 2025, including $2.6 billion of share repurchases representing approximately 14% of shares outstanding, while maintaining an investment-grade credit rating. Executive pay is described as heavily performance-based, with over 80% of 2025 CEO target compensation in equity, and the 2025 say-on-pay resolution received about 94 percent support.
Southwest Airlines executive Anthony Roach reported a routine tax-related share disposition. As EVP Customer & Brand, he had 2,179 shares of Common Stock withheld at a price of $39.41 per share to cover tax obligations by delivering securities, a non-market transaction.
After this tax-withholding event, Roach directly holds 63,672.543 shares of Southwest Airlines common stock. He also has an additional 79 shares held indirectly through a Retirement Savings Plan, where plan-related holdings are described as exempt transactions.
Southwest Airlines EVP and CFO Tom Doxey reported a routine tax-related share disposition. On this Form 4, 11,447 shares of Southwest common stock were withheld at $39.41 per share to cover tax obligations. After this transaction, he directly holds 104,800 shares of the company’s stock.