Elliott says has ‘reduced’ exposure to Southwest to 9.9%

In a regulatory filing, Elliott Investment Management said it has “reduced” its exposure to Southwest (LUV), citing “portfolio management purposes.” Elliott said it plans to remain a significant shareholders of Southwest based on its confidence that the Southwest’s execution of ongoing strategic initiatives will translate to greater profitability, accretive capital-allocation opportunities and shareholder value creation. The filing shows that Elliott now has beneficial ownership of 51,128,500 Southwest Airlines common shares, equal to 9.9% of the class, with sole voting and dispositive power. These shares were acquired at an aggregate cost of approximately $1.37B, and the percentage is based on 517,155,080 shares outstanding as of October 22, 2025.