Elliott Management confirms it still holds a large stake in Southwest Airlines

[Southwest Airlines Jet Climbing into Clear Blue Sky]
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Hedge fund Elliott Investment Management confirmed in a SEC filing that it has combined economic exposure in Southwest Airlines (NYSE:LUV [https://seekingalpha.com/symbol/LUV]) of approximately 14.8% of the common stock outstanding. The aggregate cost of the shares of Southwest Airlines directly held by the Elliott Funds is approximately $1,343,906,499.

Elliott Investment Management began actively building a stake in Southwest Airlines in June 2024, initially disclosing a position of approximately 11% in the airline company. The substantial holding allowed Elliott to surpass the 10% ownership threshold necessary to call a special shareholder meeting and propose significant changes to the company’s board and strategy. By February 2025, a revised agreement permitted Elliott to hold as much as 19.9% of the airline’s shares through the day after Southwest's (NYSE:LUV [https://seekingalpha.com/symbol/LUV]) 2026 annual shareholder meeting.

Elliott's campaign has targeted what it described as Southwest’s (LUV [https://seekingalpha.com/symbol/LUV]) poor operational performance, lagging revenue growth relative to peers, and a board lacking sufficient independent oversight.

Shares of Southwest Airlines (LUV [https://seekingalpha.com/symbol/LUV]) dipped 0.3% in premarket trading. The airline stock is down 16.2% over the last six weeks. Short interest on LUV stands at 6.9% of the total float.

MORE ON SOUTHWEST AIRLINES

* Southwest Airlines Co. (LUV) Q2 2025 Earnings Call Transcript [https://seekingalpha.com/article/4804159-southwest-airlines-co-luv-q2-2025-earnings-call-transcript]
* Southwest Airlines' Transformation Is Underway - Earnings Preview [https://seekingalpha.com/article/4803139-southwest-airlines-transformation-is-underway-earnings-preview]
* Southwest Airlines Remains In Holding Pattern, Despite New Routes And Global Ambitions [https://seekingalpha.com/article/4800757-southwest-airlines-in-holding-pattern-despite-new-routes-and-global-ambitions]
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* Elliott expresses confidence in Southwest’s direction as Doug Brooks appointed board Chair [https://seekingalpha.com/news/4476262-southwest-names-doug-brooks-as-board-chairperson-forms-new-fleet-oversight-committee]