SOUTHWEST AIRLS CO

Ticker: LUV CUSIP: 844741108 Class: COM

SHEPHERD KAPLAN KROCHUK, LLC's Holding History (CIK: 0001218583)

Note: Option positions (PUT/CALL) are excluded.

Q4 2015

Shares 4,763 Value ($000) $205 Avg Close $39.33 Range $32.85 - $45.58

Q1 2015

Shares 4,578 Value ($000) $203 Avg Close $38.60 Range $33.79 - $41.66

Q4 2014

Shares 5,822 Value ($000) $247 Avg Close $32.93 Range $25.04 - $38.14

Q3 2014

Shares 10,002 Value ($000) $338 Avg Close $26.90 Range $22.76 - $31.30

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	4,763	$205	$39.33	$32.85 - $45.58
Q1 2015	4,578	$203	$38.60	$33.79 - $41.66
Q4 2014	5,822	$247	$32.93	$25.04 - $38.14
Q3 2014	10,002	$338	$26.90	$22.76 - $31.30