5 Airline Stocks Billionaires Are Piling Into

2. Southwest Airlines Co. (NYSE:LUV)

Number of Billionaire Holders: 11

Southwest Airlines Co. (NYSE:LUV) operates Southwest Airlines, a major passenger airline that provides scheduled air transportation in the United States and near-international markets. It had a fleet of 817 aircraft operating across 121 airports across 11 countries.

On October 26, Southwest Airlines Co. (NYSE:LUV) released its financial results for Q3 2023. Its revenue increased by 5% y-o-y to $6.5 billion, while net income shrunk 30% y-o-y to $193 million. The normalized EPS of $0.38 missed consensus estimates by $0.01.

On November 16, the Board of Directors of Southwest Airlines Co. (NYSE:LUV) declared a quarterly dividend payment of $0.18 per share. Its shares currently have a dividend yield of 2.46% based on the share price on December 7.

As of Q3 2023, 33 of the 910 hedge funds tracked by Insider Monkey were long Southwest Airlines Co. (NYSE:LUV) and held shares worth $334 million. Richard Oldfield’s Oldfield Partners was the largest shareholder with ownership of 2.7 million shares valued at $74 million.