US844741BL17 · Corp · USDInvestment Grade · Baa2

Southwest Airlines Co 4.38% 2028/11

MID PRICE
101.61
par = 100
YIELD TO MAT.
4.64%
semi-annual
COUPON
4.380%
semi-annual · fixed
MATURITY
2028-11-15
bullet · 2.52y
OUTSTANDING
not disclosed
AS OF
2026-05-08

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About this bond

AI BRIEF · GROUNDED IN STRUCTURED DATA
About the issuer

Southwest Airlines is a major airline in the United States. It is headquartered in the Love Field neighborhood of Dallas, Texas. It is the fourth-largest airline in North America when measured by passengers carried, as of 2024. With its all-Boeing 737 fleet, Southwest serves over 100 destinations in 42 states, Washington, D.C., Puerto Rico, and ten other countries and territories near the southern United States in the Gulf of Mexico and Caribbean Sea regions: Aruba, the Bahamas, Belize, the Cayman Islands, Costa Rica, Cuba, the Dominican Republic, Mexico, Jamaica, and Turks and Caicos.

Source: Wikipedia →

Risk analytics

SEMI-ANNUAL · BULLET · PAR 100
Modified duration
2.31 y
1bp ↑ ≈ -0.023% P&L
Convexity
6.70
higher = more curvature
Years to maturity
2.52 y
YTM source
Ingested
Market signals · funds disclosing this bond
SignalCategoryExposureLast moveWeightAs of
SPDR Portfolio Short Term Corporate Bond
SPDR
US IG Corporate Short$9.1M▲ $10K0.09%2026-05-05
Transamerica Short-Term Bond
NPORT
Mutual Fund$7.3M0.20%2025-10-31
Vanguard Short-Term Corporate Bond
Vanguard
US Corporate Short$7.1M0.01%2026-03-31
Vanguard Ultra-Short Bond
Vanguard
US Aggregate Ultra Short Active$7.0M0.09%2026-03-31
Invesco BulletShares 2028 Corporate Bond
Invesco
BulletShares 2028 Corporate$6.1M▲ $5K0.18%2026-05-05
iShares iBonds Dec 2028 Term Corporate
iShares
iBonds 2028 Corporate$5.5M▲ $3K0.14%2026-05-08
ALPS | Smith Short Duration Bond
NPORT
Mutual Fund$5.0M0.82%2025-10-31
Transamerica Bond
NPORT
Mutual Fund$4.9M0.20%2025-10-31
VANGUARD TOTAL BOND MARKET INDEX FUND
NPORT
Mutual Fund$4.8M0.00%2025-12-31
Vanguard Total Bond Market
Vanguard
US Aggregate$4.8M0.00%2026-03-31
iShares 1-5 Year Investment Grade Corporate Bond
iShares
US IG Corporate 1-5Y$4.4M▲ $2K0.02%2026-05-08
iShares iBonds Dec 2028 Term Corporate
NPORT
Mutual Fund$4.4M0.14%2025-10-31
Invesco Total Return Bond
NPORT
Mutual Fund$4.0M0.21%2025-10-31
iShares Core U.S. Aggregate Bond
iShares
US Aggregate$3.9M▼ $4K0.00%2026-05-07
Global Bond
NPORT
Mutual Fund$3.7M0.14%2025-10-31
Transamerica Core Bond
NPORT
Mutual Fund$3.6M0.20%2025-10-31
Victory Short-Term Bond
NPORT
Mutual Fund$3.0M0.11%2025-10-31
Vanguard Short-Term Bond
Vanguard
US Aggregate Short$2.7M0.00%2026-03-31
iShares Broad USD Investment Grade Corporate Bond
iShares
US Broad IG Corporate$2.3M▲ $1K0.01%2026-05-08
SPDR Portfolio Intermediate Term Corporate Bond
SPDR
US IG Corporate Intermediate$1.6M▲ $2K0.01%2026-05-05
Transamerica Multi-Managed Balanced
NPORT
Mutual Fund$1.2M0.08%2025-10-31
Knights of Columbus Limited Duration Bond
NPORT
Mutual Fund$1.1M0.49%2025-10-31
Nationwide Loomis Core Bond
NPORT
Mutual Fund$1.1M0.12%2025-10-31
iShares Core Universal USD Bond
iShares
US Aggregate$1.0M▼ $1K0.00%2026-05-07
Invesco Short Duration Total Return Bond
NPORT
Mutual Fund$998K1.26%2025-10-31
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Price history

Sherpa Signal

AS OF 2026-05-08

Institutional footprint · signal-level holdings

58/ 100Active coverage
Interpretation. Moderate institutional footprint, with net distribution
HOLDERS
46
▼ 1 signal in 7d
AGGREGATE EXPOSURE
$108.4M
USD across all
TOP CONCENTRATION
8.4%
largest holder
FLOW
▼ $4.2M
▼ 1 signal in 7d

Sherpa Signal is derived from a panel of tracked institutional portfolios. Names of individual holders are not disclosed.

100K PAR NOTIONAL · MARKET VALUE
101,614 USD
PRICE
101.61

RFQ routing · coming soon

Security details

VIA OPENFIGI
Canonical
LUV 4 3/8 11/15/28
FIGI
BBG01Y5PSW93
CUSIP
844741BL1
ISIN
US844741BL17
Type
Corp
Issued
2025-11-03
Face value
100 USD
Ticker
LUV 4.375 11/15/28
Sec. type
GLOBAL
Seniority
Senior Unsecured

Issuer curve

LUV · 6 PTS

Yield (%) plotted against years-to-maturity. This bond highlighted in amber.