SCHEDULE Filed 2025-02-21 Event 2025-02-19 SEC 0000902664-25-001167 →

Elliott Investment Management L.P. → SOUTHWEST AIRLINES CO LUV

Stake: 9.10% Shares: 53,978,500 CUSIP: 844741108 Class: Common Stock, par value $1.00 per share

Composite Decision Signal · WATCH (DEVELOPING SETUP) Conviction Score: 52/100 · Filer 90d Win Rate: 75% · Hist. 90d Edge: +16.7%

Filer track record (5 filings): 75% 90d win rate, +18.5% 90d edge
High conviction ownership stake (9.1%)
Held by 1 tracked 13F institutional manager
24 NPORT-P mutual funds holding CUSIP
Congressional purchase disclosure (1 trade in ±90d)
Moderate short days-to-cover (3.8 DTC)

Item 4 — Purpose of Transaction

On February 19, 2025, EIM and the Elliott Funds entered into an Amendment to the Cooperation Agreement with the Issuer (the "Amendment"), which amended the Cooperation Agreement. The full text of the Amendment is included as Exhibit 99.10 and is incorporated by reference herein.

Cross-References

Insider Activity (last 365d)

0 transactions

0 buys · 0 sales · 0 awards/exercises

Issuer Cluster

5 13D/G filings on this issuer

4 other filings besides this one

Filer Track Record

26 filings by this filer

25 other filings in the data moat

Short Interest · settle 2026-10-15

DTC 3.80

23,316,242 shares short · -5.0% vs prior

Institutional Consensus · 2025-12-31

Held by elite portfolio managers

1 holder · $14.38M

Point72 Asset Mgmt

Post-Filing Returns · since 2025-02-19 on LUV

+1 day

+1.4%

+5 days

+0.2%

+30 days

+16.0%

+60 days

-19.9%

+90 days

+8.3%

+180 days

+4.9%

Anchor price 29.43 on closest trading day on/after 2025-02-19. Source: Yahoo Finance daily adj_close (split + dividend adjusted).

Other 13D/G Filings on SOUTHWEST AIRLINES CO

Filed	Form	Filer	Stake	Shares
2026-04-03	SCHEDULE 13D/A	Elliott Investment Management L.P.	4.90%	24,308,000	view →
2025-09-16	SCHEDULE	Elliott Investment Management L.P.	9.70%	51,128,500	view →
2025-02-06	SCHEDULE	Elliott Investment Management L.P.	9.00%	53,978,500	view →
2024-08-26	SC	Elliott Investment Management L.P.	—	—	view →

Other Filings by Elliott Investment Management L.P.

Filed	Form	Issuer	Stake	Shares
2026-10-08	SCHEDULE 13D/A	Seadrill Ltd	4.90%	3,108,641	view →
2026-09-21	SCHEDULE 13D/A	Seadrill Ltd	—	3,643,112	view →
2026-06-30	SCHEDULE 13D/A	Triple Flag Precious Metals Corp. TFPM	—	133,241,535	view →
2026-04-03	SCHEDULE 13D/A	SOUTHWEST AIRLINES CO LUV	4.90%	24,308,000	view →
2025-09-16	SCHEDULE	SOUTHWEST AIRLINES CO LUV	9.70%	51,128,500	view →
2025-02-06	SCHEDULE	SOUTHWEST AIRLINES CO LUV	9.00%	53,978,500	view →
2024-08-26	SC	SOUTHWEST AIRLINES CO LUV	—	—	view →
2024-04-12	SC	E2open Parent Holdings, Inc.	—	—	view →
2024-01-26	SC	Seadrill Ltd SDRL	—	—	view →
2023-07-12	SC	Seadrill Ltd SDRL	—	—	view →
2023-02-23	SC	Howmet Aerospace Inc. HWM	—	—	view →
2023-02-21	SC	PEABODY ENERGY CORP BTU	—	—	view →
2022-12-02	SC	PEABODY ENERGY CORP BTU	—	—	view →
2021-11-10	SC	PEABODY ENERGY CORP BTU	—	—	view →
2021-10-18	SC	PEABODY ENERGY CORP BTU	—	—	view →
2021-09-17	SC	PEABODY ENERGY CORP BTU	—	—	view →
2021-06-03	SC	Howmet Aerospace Inc. HWM	—	—	view →
2021-02-11	SC	CorMedix Inc. CRMD	—	—	view →
2020-12-02	SC	Howmet Aerospace Inc. HWM	—	—	view →
2020-02-05	SC	PEABODY ENERGY CORP BTU	—	—	view →

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