Vault-13

SOUTHWEST AIRLS CO LUV 1.25 05.01.25

NOTE 1.250% 5/0 · US DOMESTIC · CUSIP 844741BG2

93 institutional holders +1 vs Q4 2022
99,665,74499.7m shares reported held*
$8.5bnreported value*
9 new 28 added 25 reduced 8 sold out net bought ≈ $11.7m (+4.4m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $85.39.

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 92Q4 22: 92Q1 23: 9393Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 202292
Q4 202292
Q1 202393

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q4 22: 27 bought or addedQ4 22: 37 cut or sold outQ4 22Q1 23: 37 bought or addedQ1 23: 33 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 20222737
Q1 20233733

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5m$2mQ3 22 calls: $0Q3 22 puts: $1.5mQ3 22P/C —Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$1.5m—
Q4 2022$0$0—
Q1 2023$0$0—

Biggest buyers

ADVENT CAPITAL MANAGEMENT /DE/ Added +25,017,000+25.0m
Lombard Odier Asset Management (Europe) Ltd Added +18,649,000+18.6m
PIER 88 INVESTMENT PARTNERS LLC New +16,030,000+16.0m
ZAZOVE ASSOCIATES LLC Added +12,070,000+12.1m
FMR LLC Added +7,886,000+7.9m
Amundi Added +5,231,000+5.2m
M&G INVESTMENT MANAGEMENT LTD Added +5,037,000+5.0m
CQS (US), LLC Added +4,000,000+4.0m
SSI INVESTMENT MANAGEMENT LLC Added +3,285,000+3.3m
MORGAN STANLEY Added +3,178,000+3.2m

Biggest sellers

VOYA INVESTMENT MANAGEMENT LLC Reduced -23,935,000-23.9m
Calamos Advisors LLC Reduced -20,860,000-20.9m
STATE STREET CORP Reduced -5,950,000-6.0m
AMERIPRISE FINANCIAL INC Reduced -5,868,000-5.9m
BlackRock Inc. Reduced -5,850,000-5.8m
BNP PARIBAS FINANCIAL MARKETS Reduced -5,533,000-5.5m
CREDIT SUISSE AG/ Reduced -4,006,000-4.0m
Polar Capital Holdings Plc Reduced -3,500,000-3.5m
SHENKMAN CAPITAL MANAGEMENT INC Reduced -3,025,000-3.0m
ROYAL BANK OF CANADA Reduced -2,920,000-2.9m

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.20% of their portfolio ATLANTA, GA 161,725,000161.7m $184.3m $184.3m 0.20% Reduced -23.9m -23,935,000
2 ADVENT CAPITAL MANAGEMENT /DE/ 3.44% of their portfolio NEW YORK, NY 157,232,000157.2m $179.2m $179.2m 3.44% Added +25.0m +25,017,000
3 LAZARD ASSET MANAGEMENT LLC 0.22% of their portfolio NEW YORK, NY 148,988,000149.0m $169.8m $169.8m 0.22% Reduced -2.1m -2,142,000
4 VICTORY CAPITAL MANAGEMENT INC 0.13% of their portfolio San Antonio, TX 99,656,00099.7m $113.2m $113.2m 0.13% Added +1.2m +1,241,000
5 MacKay Shields LLC 2.05% of their portfolio New York, NY 65,468,00065.5m $74.6m $74.6m 2.05% Reduced -799.0k -799,000
6 Lombard Odier Asset Management (Europe) Ltd 3.66% of their portfolio LONDON, X0 62,085,00062.1m $70.6m $70.6m 3.66% Added +18.6m +18,649,000
7 MANUFACTURERS LIFE INSURANCE COMPANY, THE 3.72% of their portfolio Toronto, A6 57,895,00057.9m $6.6bn $6.6bn 3.72% Added +235.0k +235,000
8 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 57,390,00057.4m $64.9m $64.9m 0.01% Reduced -921.0k -921,000
9 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.11% of their portfolio FRANKFURT AM MAIN, 2M 55,450,00055.5m $62.7m $62.7m 0.11% Reduced -250.0k -250,000
10 ZAZOVE ASSOCIATES LLC 5.60% of their portfolio INCLINE VILLAGE, NV 54,140,00054.1m $61.5m $61.5m 5.60% Added +12.1m +12,070,000
11 CREDIT SUISSE AG/ 0.05% of their portfolio ZURICH, V8 47,747,00047.7m $53.4m $53.4m 0.05% Reduced -4.0m -4,006,000
12 Allianz Asset Management GmbH 0.10% of their portfolio MUNICH, 2M 40,801,00040.8m $46.5m $46.5m 0.10% Added +1.0k +1,000
13 SSI INVESTMENT MANAGEMENT LLC 2.98% of their portfolio Los Angeles, CA 37,346,00037.3m $42.4m $42.4m 2.98% Added +3.3m +3,285,000
14 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 33,025,00033.0m $37.7m $37.7m 0.00% Reduced -6.0m -5,950,000
15 AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio KANSAS CITY, MO 30,661,00030.7m $34.9m $34.9m 0.03% Added +616.0k +616,000
16 Calamos Advisors LLC 0.16% of their portfolio NAPERVILLE, IL 28,287,00028.3m $32.2m $32.2m 0.16% Reduced -20.9m -20,860,000
17 CQS (US), LLC 3.66% of their portfolio NEW YORK, NY 25,500,00025.5m $29.0m $29.0m 3.66% Added +4.0m +4,000,000
18 Thrivent Financial for Lutherans 0.07% of their portfolio Minneapolis, MN 24,397,00024.4m $27.7m $27.7m 0.07% Added +800.0k +800,000
19 SCHRODER INVESTMENT MANAGEMENT GROUP 0.04% of their portfolio London, X0 22,800,00022.8m $25.9m $25.9m 0.04% Added +2.5m +2,500,000
20 AXA S.A. 0.09% of their portfolio PARIS, I0 22,750,00022.8m $25.9m $25.9m 0.09% Added +280.0k +280,000
21 FMR LLC 0.00% of their portfolio BOSTON, MA 21,272,00021.3m $24.2m $24.2m 0.00% Added +7.9m +7,886,000
22 RWC Asset Management LLP 0.70% of their portfolio LONDON, X0 20,100,00020.1m $22.7m $22.7m 0.70% Added +2.3m +2,300,000
23 M&G INVESTMENT MANAGEMENT LTD 0.15% of their portfolio London, X0 19,173,00019.2m $21.9m $21.9m 0.15% Added +5.0m +5,037,000
24 INCOME RESEARCH & MANAGEMENT 9.52% of their portfolio Boston, MA 16,227,00016.2m $18.4m $18.4m 9.52% Unchanged
25 PIER 88 INVESTMENT PARTNERS LLC 4.41% of their portfolio SAN FRANCISCO, CA 16,030,00016.0m $18.2m $18.2m 4.41% New
26 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 15,285,00015.3m $19.9m $19.9m 0.01% Reduced -2.9m -2,920,000
27 Man Group plc 0.06% of their portfolio LONDON, X0 14,400,00014.4m $16.3m $16.3m 0.06% Unchanged
28 SHENKMAN CAPITAL MANAGEMENT INC 1.24% of their portfolio NEW YORK, NY 14,358,00014.4m $16.4m $16.4m 1.24% Reduced -3.0m -3,025,000
29 PUTNAM INVESTMENTS LLC 0.03% of their portfolio BOSTON, MA 13,921,00013.9m $15.8m $15.8m 0.03% Added +1.0m +1,024,000
30 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 13,031,00013.0m $14.9m $14.9m 0.00% Added +2.1m +2,133,000
31 LORD, ABBETT & CO. LLC 0.03% of their portfolio JERSEY CITY, NJ 12,868,00012.9m $14.6m $14.6m 0.03% Reduced -66.0k -66,000
32 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 12,426,00012.4m $14.1m $14.1m 0.00% Reduced -124.0k -124,000
33 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.05% of their portfolio Paris, I0 12,400,00012.4m $14.1m $14.1m 0.05% Unchanged
34 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 10,971,00011.0m $12.5m $12.5m 0.00% Reduced -18.0k -18,000
35 AEGON USA Investment Management, LLC 3.48% of their portfolio CEDAR RAPIDS, IA 10,750,00010.8m $12.2m $12.2m 3.48% Unchanged
36 LBP AM SA 0.30% of their portfolio Paris, I0 10,400,00010.4m $11.7m $11.7m 0.30% Unchanged
37 BlackRock Inc. 0.00% of their portfolio New York, NY 9,380,0009.4m $10.7m $10.7m 0.00% Reduced -5.8m -5,850,000
38 Amundi 0.01% of their portfolio Paris, I0 9,231,0009.2m $10.4m $10.4m 0.01% Added +5.2m +5,231,000
39 PALISADE CAPITAL MANAGEMENT, LP 0.27% of their portfolio FORT LEE, NJ 8,745,0008.7m $9.9m $9.9m 0.27% Reduced -1.9m -1,900,000
40 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 8,530,0008.5m $9.7m $9.7m 0.01% Reduced -2.0m -2,000,000
41 OSTERWEIS CAPITAL MANAGEMENT INC 0.61% of their portfolio SAN FRANCISCO, CA 7,875,0007.9m $9.0m $9.0m 0.61% Unchanged
42 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 6,295,0006.3m $7.2m $7.2m 0.01% Reduced -1.5m -1,534,000
43 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 5,731,0005.7m $6.5m $6.5m 0.00% Unchanged
44 GABELLI FUNDS LLC 0.05% of their portfolio Rye, NY 5,730,0005.7m $6.5m $6.5m 0.05% Unchanged
45 LOOMIS SAYLES & CO L P 0.27% of their portfolio BOSTON, MA 4,773,5854.8m $155.3m $155.3m 0.27% Added +14.8k +14,781
46 EDMOND DE ROTHSCHILD HOLDING S.A. 0.12% of their portfolio CHAMBESY, V8 4,546,0004.5m $5.2m $5.2m 0.12% Unchanged
47 NOMURA ASSET MANAGEMENT CO LTD 0.02% of their portfolio TOKYO, M0 4,000,0004.0m $4.5m $4.5m 0.02% Unchanged
48 Polar Capital Holdings Plc 0.03% of their portfolio London, X0 3,500,0003.5m $4.0m $4.0m 0.03% Reduced -3.5m -3,500,000
49 Liberty Mutual Group Asset Management Inc. 0.86% of their portfolio Boston, MA 3,340,0003.3m $3.8m $3.8m 0.86% Added +575.0k +575,000
50 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3,302,0003.3m $3.8m $3.8m 0.00% Added +3.2m +3,178,000
51 CONNING INC. 0.12% of their portfolio HARTFORD, CT 3,075,0003.1m $3.5m $3.5m 0.12% Added +1.1m +1,150,000
52 FIRST HAWAIIAN BANK 0.11% of their portfolio HONOLULU, HI 2,922,0002.9m $3.3m $3.3m 0.11% Added +337.0k +337,000
53 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 2,370,0002.4m $2.7m $2.7m 0.00% New
54 RATIONAL ADVISORS, INC. 0.22% of their portfolio San Juan, PR 2,370,0002.4m $2.7m $2.7m 0.22% New
55 JUPITER ASSET MANAGEMENT LTD 0.04% of their portfolio London, X0 2,300,0002.3m $2.6m $2.6m 0.04% Unchanged
56 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 1,996,0002.0m $2.3m $2.3m 0.00% Unchanged
57 KORNITZER CAPITAL MANAGEMENT INC /KS 0.04% of their portfolio SHAWNEE MISSION, KS 1,750,0001.8m $2.0m $2.0m 0.04% Unchanged
58 Zurcher Kantonalbank (Zurich Cantonalbank) 0.01% of their portfolio ZURICH, V8 1,650,0001.6m $1.8m $1.8m 0.01% Reduced -200.0k -200,000
59 Ameritas Investment Partners, Inc. 0.07% of their portfolio LINCOLN, NE 1,610,0001.6m $1.8m $1.8m 0.07% Unchanged
60 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,602,0001.6m $1.8m $1.8m 0.00% Reduced -16.0k -16,000
61 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 1,500,0001.5m $1.7m $1.7m 0.00% Reduced -5.5m -5,533,000
62 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 1,320,0001.3m $1.5m $1.5m 0.00% Added +500.0k +500,000
63 Quaero Capital S.A. 0.95% of their portfolio GENEVE, V8 1,150,0001.1m $1.3m $1.3m 0.95% Unchanged
64 RBF Capital, LLC 0.04% of their portfolio RENO, NV 500,000500.0k $568.0k $568.0k 0.04% Unchanged
65 KBC Group NV 0.00% of their portfolio Brussels, C9 500,000500.0k $568.0k $568.0k 0.00% Added +100.0k +100,000
66 Calamos Wealth Management LLC 0.03% of their portfolio NAPERVILLE, IL 373,000373.0k $424.0k $424.0k 0.03% Reduced -483.0k -483,000
67 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 305,000305.0k $346.5k $346.5k 0.00% Reduced -5.9m -5,868,000
68 Teton Advisors, Inc. 0.09% of their portfolio Rye, NY 300,000300.0k $341.0k $341.0k 0.09% Unchanged
69 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 300,000300.0k $342.5k $342.5k 0.00% New
70 GAMCO INVESTORS, INC. ET AL 0.00% of their portfolio GREENWICH, CT 200,000200.0k $227.3k $227.3k 0.00% Unchanged
71 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 92,00092.0k $104.5k $104.5k 0.00% Unchanged
72 SG Americas Securities, LLC 0.11% of their portfolio NEW YORK, NY 73,84073.8k $8.3m $8.3m 0.11% Unchanged
73 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 59,00059.0k $67.0k $67.0k 0.00% Unchanged
74 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 46,00046.0k $52.0k $52.0k 0.00% Unchanged
75 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 35,00035.0k $39.8k $39.8k 0.00% Unchanged
76 Balboa Wealth Partners 0.02% of their portfolio SCOTTSDALE, AZ 35,00035.0k $39.8k $39.8k 0.02% Unchanged
77 Northside Capital Management, LLC 0.01% of their portfolio Hood River, OR 28,00028.0k $31.8k $31.8k 0.01% Unchanged
78 HOHIMER WEALTH MANAGEMENT, LLC 0.01% of their portfolio SEATTLE, WA 28,00028.0k $31.8k $31.8k 0.01% Unchanged
79 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 22,00022.0k $25.0k $25.0k 0.00% Added +11.0k +11,000
80 PATRON PARTNERS, LLC 0.02% of their portfolio HOUSTON, TX 18,00018.0k $20.4k $20.4k 0.02% Unchanged
81 Candriam S.C.A. 0.12% of their portfolio STRASSEN, N4 16,20016.2k $16.9m $16.9m 0.12% Added +3.0k +3,000
82 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 16,00016.0k $18.2k $18.2k 0.00% Added +3.0k +3,000
83 Goldstein Advisors, LLC 0.00% of their portfolio Madison, WI 16,00016.0k $18.2k $18.2k 0.00% Reduced -4.0k -4,000
84 Iron Horse Wealth Management, LLC 0.01% of their portfolio JOHSTON, IA 12,00012.0k $13.6k $13.6k 0.01% New
85 Marcum Wealth, LLC 0.00% of their portfolio CLEVELAND, OH 11,00011.0k $12.5k $12.5k 0.00% New
86 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 10,00010.0k $11.0k $11.0k 0.00% Unchanged
87 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 9,0009.0k $10.2k $10.2k 0.00% Unchanged
88 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 7,0007.0k $8.0k $8.0k 0.00% New
89 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 6,0006.0k $681.6k $681.6k 0.00% New
90 UBS Group AG 0.00% of their portfolio ZURICH, V8 5,0005.0k $5.7k $5.7k 0.00% New
91 LAFFER TENGLER INVESTMENTS, INC. 0.67% of their portfolio Scottsdale, AZ 2,1592.2k $2.5m $2.5m 0.67% Reduced -22 -22
92 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 1,0001.0k $1.1k $1.1k 0.00% Unchanged
93 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged