Vault-13

SOUTHWEST AIRLS CO LUV 1.25 05.01.25

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

98 institutional holders +2 vs Q3 2023
86,021,81286.0m shares reported held*
$7.2bnreported value*
11 new 24 added 25 reduced 11 sold out net sold ≈ $86.4m (+1.5m 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 ($1.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $84.22.

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 92Q4 22: 92Q1 23: 93Q2 23: 95Q3 23: 96Q4 23: 9898Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 202292
Q4 202292
Q1 202393
Q2 202395
Q3 202396
Q4 202398

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q4 22: 27 bought or addedQ4 22: 37 cut or sold outQ4 22Q1 23: 37 bought or addedQ1 23: 33 cut or sold outQ1 23Q2 23: 34 bought or addedQ2 23: 35 cut or sold outQ2 23Q3 23: 21 bought or addedQ3 23: 45 cut or sold outQ3 23Q4 23: 35 bought or addedQ4 23: 36 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 20222737
Q1 20233733
Q2 20233435
Q3 20232145
Q4 20233536

Biggest buyers

JPMORGAN CHASE & CO Added +17,654,000+17.7m
SONA ASSET MANAGEMENT (US) LLC New +16,500,000+16.5m
AXA S.A. Added +12,650,000+12.7m
MORGAN STANLEY Added +8,081,000+8.1m
Wellesley Asset Management Added +7,458,901+7.5m
GOLDMAN SACHS GROUP INC New +6,495,000+6.5m
AMERICAN CENTURY COMPANIES INC Added +6,492,000+6.5m
FMR LLC Added +4,956,000+5.0m
WELLINGTON MANAGEMENT GROUP LLP Added +4,092,000+4.1m
NOMURA ASSET MANAGEMENT CO LTD New +4,000,000+4.0m

Biggest sellers

ADVENT CAPITAL MANAGEMENT /DE/ Reduced -38,056,000-38.1m
Lombard Odier Asset Management (Europe) Ltd Reduced -30,003,000-30.0m
LAZARD ASSET MANAGEMENT LLC Reduced -26,955,000-27.0m
SSI INVESTMENT MANAGEMENT LLC Reduced -17,921,000-17.9m
GOLDMAN SACHS GROUP INC Sold out -12,425,000-12.4m
CREDIT SUISSE AG/ Reduced -11,000,000-11.0m
STATE STREET CORP Reduced -7,850,000-7.8m
PUTNAM INVESTMENTS LLC Sold out -7,388,000-7.4m
Invesco Ltd. Reduced -7,256,000-7.3m
ROYAL BANK OF CANADA Reduced -6,682,000-6.7m

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.17% of their portfolio ATLANTA, GA 159,550,000159.6m $161.8m $161.8m 0.17% Unchanged
2 LAZARD ASSET MANAGEMENT LLC 0.15% of their portfolio NEW YORK, NY 116,779,000116.8m $118.4m $118.4m 0.15% Reduced -27.0m -26,955,000
3 ADVENT CAPITAL MANAGEMENT /DE/ 2.70% of their portfolio NEW YORK, NY 115,743,000115.7m $117.4m $117.4m 2.70% Reduced -38.1m -38,056,000
4 VICTORY CAPITAL MANAGEMENT INC 0.11% of their portfolio San Antonio, TX 104,829,000104.8m $106.1m $106.1m 0.11% Reduced -3.0m -3,045,000
5 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 73,052,00073.1m $74.2m $74.2m 0.00% Added +17.7m +17,654,000
6 MacKay Shields LLC 1.89% of their portfolio New York, NY 63,931,00063.9m $64.8m $64.8m 1.89% Added +1.8m +1,766,000
7 ZAZOVE ASSOCIATES LLC 7.74% of their portfolio INCLINE VILLAGE, NV 61,390,00061.4m $62.3m $62.3m 7.74% Reduced -885.0k -885,000
8 MANUFACTURERS LIFE INSURANCE COMPANY, THE 3.40% of their portfolio Toronto, A6 56,235,00056.2m $5.7bn $5.7bn 3.40% Added +50.0k +50,000
9 AMERICAN CENTURY COMPANIES INC 0.04% of their portfolio KANSAS CITY, MO 53,761,00053.8m $54.5m $54.5m 0.04% Added +6.5m +6,492,000
10 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.07% of their portfolio FRANKFURT AM MAIN, 2M 53,700,00053.7m $54.5m $54.5m 0.07% Reduced -750.0k -750,000
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 35,225,00035.2m $35.7m $35.7m 0.00% Reduced -7.8m -7,850,000
12 Calamos Advisors LLC 0.16% of their portfolio NAPERVILLE, IL 30,773,00030.8m $31.2m $31.2m 0.16% Reduced -3.4m -3,389,000
13 M&G INVESTMENT MANAGEMENT LTD 0.16% of their portfolio London, X0 26,715,00026.7m $27.0m $27.0m 0.16% Unchanged
14 CQS (US), LLC 2.95% of their portfolio NEW YORK, NY 26,600,00026.6m $26.9m $26.9m 2.95% Unchanged
15 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 25,997,00026.0m $26.3m $26.3m 0.00% Added +1.1m +1,074,000
16 AXA S.A. 0.04% of their portfolio PARIS, I0 25,300,00025.3m $25.8m $25.8m 0.04% Added +12.7m +12,650,000
17 Thrivent Financial for Lutherans 0.05% of their portfolio Minneapolis, MN 23,852,00023.9m $24.1m $24.1m 0.05% Reduced -1.2m -1,155,000
18 SCHRODER INVESTMENT MANAGEMENT GROUP 0.03% of their portfolio London, X0 21,950,00021.9m $22.2m $22.2m 0.03% Unchanged
19 CREDIT SUISSE AG/ 0.02% of their portfolio ZURICH, V8 21,474,00021.5m $24.6m $24.6m 0.02% Reduced -11.0m -11,000,000
20 RWC Asset Management LLP 1.20% of their portfolio LONDON, X0 19,600,00019.6m $19.9m $19.9m 1.20% Reduced -600.0k -600,000
21 Allianz Asset Management GmbH 0.04% of their portfolio MUNICH, 2M 19,501,00019.5m $19.8m $19.8m 0.04% Added +1.0m +1,000,000
22 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 16,769,00016.8m $17.0m $17.0m 0.00% Added +4.1m +4,092,000
23 SONA ASSET MANAGEMENT (US) LLC 1.54% of their portfolio NEW YORK, NY 16,500,00016.5m $16.7m $16.7m 1.54% New
24 SHENKMAN CAPITAL MANAGEMENT INC 1.15% of their portfolio NEW YORK, NY 15,489,00015.5m $16.0m $16.0m 1.15% Added +1.5m +1,487,000
25 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 15,274,00015.3m $15.5m $15.5m 0.00% Added +8.1m +8,081,000
26 PIER 88 INVESTMENT PARTNERS LLC 3.87% of their portfolio SAN FRANCISCO, CA 15,220,00015.2m $15.4m $15.4m 3.87% Unchanged
27 INCOME RESEARCH & MANAGEMENT 10.54% of their portfolio Boston, MA 15,047,00015.0m $15.2m $15.2m 10.54% Unchanged
28 LBP AM SA 0.30% of their portfolio Paris, I0 13,500,00013.5m $13.7m $13.7m 0.30% Added +3.1m +3,100,000
29 FMR LLC 0.00% of their portfolio BOSTON, MA 12,817,00012.8m $13.0m $13.0m 0.00% Added +5.0m +4,956,000
30 BlackRock Inc. 0.00% of their portfolio New York, NY 11,460,00011.5m $11.6m $11.6m 0.00% Added +600.0k +600,000
31 SSI INVESTMENT MANAGEMENT LLC 0.75% of their portfolio Los Angeles, CA 9,841,0009.8m $9.9m $9.9m 0.75% Reduced -17.9m -17,921,000
32 Man Group plc 0.03% of their portfolio LONDON, X0 9,800,0009.8m $9.9m $9.9m 0.03% Reduced -900.0k -900,000
33 Wellesley Asset Management 0.92% of their portfolio PORTSMOUTH, NH 9,058,9019.1m $9.2m $9.2m 0.92% Added +7.5m +7,458,901
34 Amundi 0.00% of their portfolio Paris, I0 8,000,0008.0m $8.1m $8.1m 0.00% Unchanged
35 OSTERWEIS CAPITAL MANAGEMENT INC 0.51% of their portfolio SAN FRANCISCO, CA 7,875,0007.9m $8.0m $8.0m 0.51% Unchanged
36 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 7,827,0007.8m $8.0m $8.0m 0.01% Reduced -361.0k -361,000
37 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.02% of their portfolio Paris, I0 6,900,0006.9m $7.0m $7.0m 0.02% Reduced -1.0m -1,000,000
38 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 6,574,0006.6m $6.6m $6.6m 0.00% Reduced -6.7m -6,682,000
39 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 6,495,0006.5m $6.6m $6.6m 0.00% New
40 PALISADE CAPITAL MANAGEMENT, LP 0.15% of their portfolio FORT LEE, NJ 5,752,0005.8m $5.8m $5.8m 0.15% Unchanged
41 LOOMIS SAYLES & CO L P 0.23% of their portfolio BOSTON, MA 5,233,1275.2m $151.1m $151.1m 0.23% Added +501.9k +501,935
42 CONNING INC. 0.18% of their portfolio HARTFORD, CT 5,200,0005.2m $5.2m $5.2m 0.18% Added +2.1m +2,125,000
43 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 5,140,0005.1m $5.2m $5.2m 0.00% Added +2.6m +2,568,000
44 NOMURA ASSET MANAGEMENT CO LTD 0.02% of their portfolio TOKYO, M0 4,000,0004.0m $4.1m $4.1m 0.02% New
45 AEGON USA Investment Management, LLC 2.89% of their portfolio CEDAR RAPIDS, IA 4,000,0004.0m $4.0m $4.0m 2.89% Unchanged
46 Lombard Odier Asset Management (Europe) Ltd 0.26% of their portfolio LONDON, X0 3,773,0003.8m $3.8m $3.8m 0.26% Reduced -30.0m -30,003,000
47 KORNITZER CAPITAL MANAGEMENT INC /KS 0.07% of their portfolio SHAWNEE MISSION, KS 3,750,0003.8m $3.8m $3.8m 0.07% Unchanged
48 Liberty Mutual Group Asset Management Inc. 0.98% of their portfolio Boston, MA 3,340,0003.3m $3.4m $3.4m 0.98% Unchanged
49 EDMOND DE ROTHSCHILD HOLDING S.A. 0.05% of their portfolio CHAMBESY, V8 2,994,0003.0m $3.0m $3.0m 0.05% Reduced -502.0k -502,000
50 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 2,925,0002.9m $3.0m $3.0m 0.01% New
51 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 2,117,0002.1m $2.1m $2.1m 0.00% Added +2.0m +1,976,000
52 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 1,932,0001.9m $2.0m $2.0m 0.00% Added +151.0k +151,000
53 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 1,800,0001.8m $1.8m $1.8m 0.00% Unchanged
54 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 1,700,0001.7m $1.7m $1.7m 0.00% New
55 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,630,0001.6m $1.6m $1.6m 0.00% Reduced -1.8m -1,810,000
56 Ameritas Investment Partners, Inc. 0.06% of their portfolio LINCOLN, NE 1,610,0001.6m $1.6m $1.6m 0.06% Unchanged
57 RATIONAL ADVISORS, INC. 0.16% of their portfolio San Juan, PR 1,560,0001.6m $1.6m $1.6m 0.16% Unchanged
58 JUPITER ASSET MANAGEMENT LTD 0.02% of their portfolio London, X0 1,500,0001.5m $1.5m $1.5m 0.02% Reduced -800.0k -800,000
59 Paloma Partners Management Co 0.22% of their portfolio GREENWICH, CT 1,320,0001.3m $1.3m $1.3m 0.22% New
60 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 1,320,0001.3m $1.3m $1.3m 0.00% Unchanged
61 FIRST HAWAIIAN BANK 0.03% of their portfolio HONOLULU, HI 859,000859.0k $868.0k $868.0k 0.03% Reduced -920.0k -920,000
62 Jefferies Financial Group Inc. 0.01% of their portfolio NEW YORK, NY 703,000703.0k $712.1k $712.1k 0.01% Added +498.0k +498,000
63 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 575,000575.0k $581.0k $581.0k 0.00% Reduced -7.3m -7,256,000
64 RBF Capital, LLC 0.03% of their portfolio RENO, NV 500,000500.0k $505.2k $505.2k 0.03% Unchanged
65 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 500,000500.0k $508.1k $508.1k 0.00% Reduced -750.0k -750,000
66 KBC Group NV 0.00% of their portfolio Brussels, C9 500,000500.0k $509.0k $509.0k 0.00% Unchanged
67 Calamos Wealth Management LLC 0.03% of their portfolio NAPERVILLE, IL 468,000468.0k $474.6k $474.6k 0.03% Reduced -66.0k -66,000
68 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 398,000398.0k $402.2k $402.2k 0.00% Added +5.0k +5,000
69 Fox Hill Wealth Management 0.17% of their portfolio DEDHAM, MA 225,000225.0k $227.1k $227.1k 0.17% First filing
70 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 170,000170.0k $171.8k $171.8k 0.00% Added +20.0k +20,000
71 Financiere des Professionnels - Fonds d'investissement inc. 0.01% of their portfolio MONTREAL, A8 110,000110.0k $111.6k $111.6k 0.01% Unchanged
72 SG Americas Securities, LLC 0.08% of their portfolio NEW YORK, NY 73,84073.8k $7.5m $7.5m 0.08% Unchanged
73 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 59,00059.0k $59.6k $59.6k 0.00% Unchanged
74 Argent Trust Co 0.00% of their portfolio NASHVILLE, TN 55,00055.0k $55.6k $55.6k 0.00% Unchanged
75 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 53,00053.0k $53.6k $53.6k 0.00% Added +18.0k +18,000
76 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 50,00050.0k $50.5k $50.5k 0.00% New
77 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 31,00031.0k $31.0k $31.0k 0.00% Unchanged
78 Balboa Wealth Partners 0.01% of their portfolio SCOTTSDALE, AZ 31,00031.0k $31.3k $31.3k 0.01% Unchanged
79 Northside Capital Management, LLC 0.01% of their portfolio Hood River, OR 28,00028.0k $28.3k $28.3k 0.01% New
80 Goldstein Advisors, LLC 0.46% of their portfolio Madison, WI 27,00027.0k $2.7m $2.7m 0.46% Unchanged
81 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 25,00025.0k $25.2k $25.2k 0.00% Added +11.0k +11,000
82 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 18,00018.0k $18.2k $18.2k 0.00% New
83 PATRON PARTNERS, LLC 0.01% of their portfolio HOUSTON, TX 18,00018.0k $18.2k $18.2k 0.01% Unchanged
84 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 16,00016.0k $16.1k $16.1k 0.00% Unchanged
85 Formidable Asset Management, LLC 0.00% of their portfolio CINCINNATI, OH 13,00013.0k $13.1k $13.1k 0.00% New
86 Iron Horse Wealth Management, LLC 0.01% of their portfolio JOHSTON, IA 12,00012.0k $12.1k $12.1k 0.01% Unchanged
87 TIAA TRUST, NATIONAL ASSOCIATION 0.00% of their portfolio CHARLOTTE, NC 12,00012.0k $12.1k $12.1k 0.00% Unchanged
88 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 11,00011.0k $11.1k $11.1k 0.00% Unchanged
89 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 10,00010.0k $10.0k $10.0k 0.00% Unchanged
90 Florida Trust Wealth Management Co 0.00% of their portfolio SANIBEL, FL 10,00010.0k $10.1k $10.1k 0.00% First filing
91 Candriam S.C.A. 0.06% of their portfolio STRASSEN, N4 8,1008.1k $8.2m $8.2m 0.06% Unchanged
92 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 3,0003.0k $303.1k $303.1k 0.00% Unchanged
93 LAFFER TENGLER INVESTMENTS, INC. 0.73% of their portfolio Scottsdale, AZ 2,6852.7k $2.7m $2.7m 0.73% Reduced -348 -348
94 COMERICA BANK 0.00% of their portfolio DALLAS, TX 2,0002.0k $2.0k $2.0k 0.00% Unchanged
95 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,0002.0k $2.0k $2.0k 0.00% New
96 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 1,0001.0k $1.0k $1.0k 0.00% Unchanged
97 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged
98 NOMURA ASSET MANAGEMENT CO LTD 0.00% of their portfolio TOKYO, M0 00 $0 $0 0.00% Reduced -4.0m -4,000,000