ALASKA AIR GROUP INC ALK
COM · Common Stock · CUSIP 011659109 · ISIN US0116591092
Airline holding company
- SectorIndustrials
- IndustryAir Transportation, Scheduled
- HeadquartersSeattle, WA
- Founded1985
- Websiteinvestor.alaskaair.com
- FilingsSEC EDGAR
* 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 ($7.2m this quarter). Holder counts are more reliable. Shares outstanding: 114.6m as of 2026-01-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $50.26. Options: 17 managers hold calls ($165.7m notional), 19 hold puts ($123.6m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 496 |
| Q4 2022 | 506 |
| Q1 2023 | 515 |
| Q2 2023 | 499 |
| Q3 2023 | 469 |
| Q4 2023 | 455 |
| Q1 2024 | 426 |
| Q2 2024 | 448 |
| Q3 2024 | 445 |
| Q4 2024 | 509 |
| Q1 2025 | 530 |
| Q2 2025 | 480 |
| Q3 2025 | 477 |
| Q4 2025 | 467 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 182 | 244 |
| Q2 2024 | 188 | 195 |
| Q3 2024 | 184 | 229 |
| Q4 2024 | 235 | 197 |
| Q1 2025 | 271 | 255 |
| Q2 2025 | 208 | 290 |
| Q3 2025 | 211 | 240 |
| Q4 2025 | 206 | 254 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $364.6m | $131.2m | 0.36 |
| Q2 2025 | $237.7m | $139.6m | 0.59 |
| Q3 2025 | $322.6m | $134.1m | 0.42 |
| Q4 2025 | $165.7m | $123.6m | 0.75 |
Biggest buyers
| Capital Research Global Investors | Added | +1.5m |
| CAUSEWAY CAPITAL MANAGEMENT LLC | New | +1.4m |
| AMERIPRISE FINANCIAL INC | Added | +1.4m |
| AMERICAN CENTURY COMPANIES INC | Added | +1.1m |
| Jain Global LLC | New | +1.1m |
| Point72 Asset Management, L.P. | Added | +934.7k |
| Balyasny Asset Management L.P. | Added | +811.1k |
| Generate Investment Management Ltd | New | +800.0k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +588.1k |
| FRANKLIN RESOURCES INC | Added | +567.9k |
Biggest sellers
| FMR LLC | Reduced | -4.9m |
| D1 Capital Partners L.P. | Sold out | -2.3m |
| GOLDMAN SACHS GROUP INC | Reduced | -2.0m |
| Qube Research & Technologies Ltd | Reduced | -1.3m |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -817.0k |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | -733.3k |
| CITADEL ADVISORS LLC | Reduced | -711.0k |
| UBS Group AG | Reduced | -696.1k |
| Bank of New York Mellon Corp | Reduced | -478.1k |
| Candlestick Capital Management LP | Sold out | -361.9k |
Biggest calls
| NOMURA HOLDINGS INC | Unchanged | $49.0m975.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $33.2m660.5k shares |
| CITADEL ADVISORS LLC | Added | $21.6m429.9k shares |
| JANE STREET GROUP, LLC | Reduced | $14.4m285.8k shares |
| Squarepoint Ops LLC | Added | $8.5m169.0k shares |
| IMC-Chicago, LLC | Added | $7.8m155.2k shares |
| Point72 Asset Management, L.P. | New | $6.9m137.1k shares |
| Walleye Capital LLC | Added | $4.8m95.7k shares |
| Walleye Trading LLC | Added | $4.1m81.5k shares |
| BARCLAYS PLC | Reduced | $3.4m67.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $24.5m487.3k shares |
| CITADEL ADVISORS LLC | Added | $17.2m341.1k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $12.8m254.0k shares |
| BARCLAYS PLC | Added | $10.9m217.5k shares |
| IMC-Chicago, LLC | Added | $8.8m175.1k shares |
| Squarepoint Ops LLC | Reduced | $6.7m132.7k shares |
| Crawford Fund Management, LLC | Added | $6.4m128.0k shares |
| Walleye Capital LLC | Added | $6.1m121.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $4.0m79.8k shares |
| JANE STREET GROUP, LLC | Reduced | $3.6m72.1k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-04-17 | 8.4% |
| DIMENSIONAL FUND ADVISORS LP 13G · institution new · filed 2025-07-15 | 5.1% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.1% |
Fell to 5% or below in the last year: FMR LLC (3.1%, 2026-05-06), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 1 | $249.3k | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 7 | $4.0m | — |
| Q1 2025 | 0 | — | 6 | $11.6m | — |
| Q2 2025 | 0 | — | 3 | $554.2k | — |
| Q3 2025 | 0 | — | 3 | $1.0m | — |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 11.1m $556.3m | Added +110.6k |
| BlackRock, Inc. 0.01% of their portfolio | 10.5m $529.4m | Added +236.6k |
| FMR LLC 0.02% of their portfolio | 6.5m $326.5m | Reduced -4.9m |
| DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio | 6.2m $312.0m | Reduced -70.4k |
| AMERICAN CENTURY COMPANIES INC 0.11% of their portfolio | 4.3m $217.9m | Added +1.1m |
| STATE STREET CORP 0.01% of their portfolio | 3.4m $172.1m | Reduced -19.9k |
| PRIMECAP MANAGEMENT CO/CA/ 0.12% of their portfolio | 3.3m $164.0m | Reduced -198.6k |
| Capital Research Global Investors 0.03% of their portfolio | 3.2m $159.7m | Added +1.5m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.05% of their portfolio | 3.0m $149.0m | Added +588.1k |
| CITADEL ADVISORS LLC 0.09% of their portfolio | 2.5m $127.2m | Reduced -711.0k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 1.22% of their portfolio | 2.3m $114.7m | Added +491.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 2.1m $108.2m | Added +35.4k |
| MORGAN STANLEY 0.01% of their portfolio | 1.9m $96.6m | Added +280.3k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 1.9m $95.6m | Added +1.4m |
| Point72 Asset Management, L.P. 0.14% of their portfolio | 1.8m $91.9m | Added +934.7k |
| Balyasny Asset Management L.P. 0.17% of their portfolio | 1.8m $89.9m | Added +811.1k |
| PAR CAPITAL MANAGEMENT INC 2.11% of their portfolio | 1.6m $79.5m | Added +462.2k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.5m $77.6m | Added +348.8k |
| CAUSEWAY CAPITAL MANAGEMENT LLC 0.99% of their portfolio | 1.4m $72.2m | New |
| TWO SIGMA INVESTMENTS, LP 0.10% of their portfolio | 1.3m $64.9m | Added +320.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.2m $61.3m | Added +4.1k |
| BARCLAYS PLC 0.02% of their portfolio | 1.2m $58.6m | Added +428.4k |
| Jain Global LLC 0.52% of their portfolio | 1.1m $53.7m | New |
| UBS Group AG 0.01% of their portfolio | 1.0m $52.6m | Reduced -696.1k |
| Freestone Grove Partners LP 0.35% of their portfolio | 974.6k $49.0m | Added +562.1k |
| Invesco Ltd. 0.00% of their portfolio | 973.6k $49.0m | Added +153.3k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 939.5k $47.3m | Added +527.2k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 911.6k $45.9m | Reduced -20.5k |
| Generate Investment Management Ltd 1.84% of their portfolio | 800.0k $40.2m | New |
| ARGA Investment Management, LP 1.03% of their portfolio | 754.3k $37.9m | Added +503.2k |
| CAPITAL FUND MANAGEMENT S.A. 0.35% of their portfolio | 727.8k $36.6m | Added +367.6k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 725.6k $36.5m | Reduced -478.1k |
| TWO SIGMA ADVISERS, LP 0.07% of their portfolio | 687.9k $34.6m | Added +152.9k |
| Gotham Asset Management, LLC 0.13% of their portfolio | 681.1k $34.3m | Added +374.0k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 589.2k $29.6m | Added +567.9k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.08% of their portfolio | 535.1k $26.9m | Reduced -55.2k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 487.5k $24.5m | Reduced -2.0m |
| U S GLOBAL INVESTORS INC 2.46% of their portfolio | 455.9k $22.9m | Added +84.6k |
| MetLife Investment Management, LLC 0.10% of their portfolio | 416.7k $21.0m | Added +81.0k |
| SEMPER AUGUSTUS INVESTMENTS GROUP LLC 2.37% of their portfolio | 409.3k $20.6m | Added +30.7k |
| South Dakota Investment Council 0.39% of their portfolio | 408.6k $20.6m | Added +73.1k |
| STIFEL FINANCIAL CORP 0.02% of their portfolio | 388.2k $19.5m | Added +7.9k |
| J. Goldman & Co LP 0.75% of their portfolio | 386.1k $19.4m | New |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 385.3k $19.4m | Added +57.2k |
| Lodge Hill Capital, LLC 3.64% of their portfolio | 382.8k $19.3m | Reduced -335.0k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 359.1k $18.1m | Reduced -733.3k |
| LSV ASSET MANAGEMENT 0.04% of their portfolio | 331.9k $16.7m | Added +277.1k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 331.3k $16.7m | Reduced -203.7k |
| Diamond Hill Capital Management, LLC (Investment Advisor) 0.07% of their portfolio | 287.9k $14.5m | Added +33.1k |
| Bridgewater Associates, LP 0.05% of their portfolio | 272.9k $13.7m | Added +83.6k |
| SummitTX Capital, L.P. 0.42% of their portfolio | 272.5k $13.7m | Added +268.5k |
| Quantinno Capital Management LP 0.03% of their portfolio | 271.5k $13.7m | Added +108.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 263.0k $13.2m | Reduced -5.7k |
| COBALT CAPITAL MANAGEMENT, INC. 5.79% of their portfolio | 260.0k $13.1m | New |
| Retirement Systems of Alabama 0.04% of their portfolio | 235.1k $11.8m | Reduced -211 |
| Private Advisory Group LLC 0.90% of their portfolio | 226.5k $11.4m | New |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 215.3k $10.8m | Added +57.3k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 213.7k $10.7m | Added +20.3k |
| California Public Employees Retirement System 0.01% of their portfolio | 209.9k $10.6m | Reduced -1.1k |
| Nuveen, LLC 0.00% of their portfolio | 209.9k $10.6m | Reduced -2.5k |
| D.A. DAVIDSON & CO. 0.06% of their portfolio | 198.3k $10.0m | Reduced -167 |
| MARSHALL WACE, LLP 0.01% of their portfolio | 191.2k $9.6m | Reduced -229.8k |
| swisspartners Advisors Ltd 6.94% of their portfolio | 190.3k $9.6m | Added +19.8k |
| Allspring Global Investments Holdings, LLC 0.02% of their portfolio | 189.2k $9.7m | Reduced -6.5k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 186.0k $9.4m | Reduced -319.9k |
| NORGES BANK 0.00% of their portfolio | 181.4k $9.1m | Not comparable |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 168.5k $8.5m | Added +134.0k |
| First Washington CORP 2.14% of their portfolio | 164.3k $8.3m | Reduced -1.6k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 162.7k $8.2m | Added +12.5k |
| COMERICA BANK 0.03% of their portfolio | 160.3k $8.1m | Reduced -6.5k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.13% of their portfolio | 156.9k $7.9m | Added +60.2k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 153.6k $7.7m | Reduced -817.0k |
| LPL Financial LLC 0.00% of their portfolio | 150.7k $7.6m | Added +41.5k |
| Connor, Clark & Lunn Investment Management Ltd. 0.02% of their portfolio | 142.5k $7.2m | Added +87.7k |
| Hudson Bay Capital Management LP 0.04% of their portfolio | 140.4k $7.1m | Added +32.7k |
| Shellback Capital, LP 0.67% of their portfolio | 140.0k $7.0m | Reduced -80.0k |
| Baird Financial Group, Inc. 0.01% of their portfolio | 139.2k $7.0m | Added +10.2k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 138.3k $7.0m | Added +55.4k |
| HRT FINANCIAL LP 0.03% of their portfolio | 137.5k $6.9m | Added +68.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 135.0k $6.8m | Reduced -25.4k |
| TOWLE & CO 1.76% of their portfolio | 132.3k $6.7m | Reduced -7.7k |
| CITIGROUP INC 0.00% of their portfolio | 126.0k $6.3m | Added +92.5k |
| Davidson Kempner Capital Management LP 0.09% of their portfolio | 125.0k $6.3m | Not comparable |
| Corient Private Wealth LP 0.00% of their portfolio | 124.3k $2.3m | Added +91.2k |
| MOORE CAPITAL MANAGEMENT, LP 0.12% of their portfolio | 120.3k $6.1m | New |
| Creative Planning 0.00% of their portfolio | 116.4k $5.9m | Reduced -2.9k |
| Heights Point Management, LP 4.68% of their portfolio | 109.0k $5.5m | First filing |
| Allianz Asset Management GmbH 0.01% of their portfolio | 108.8k $5.5m | Reduced -64.8k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 102.5k $5.2m | Added +4.2k |
| tru Independence LLC 1.29% of their portfolio | 102.0k $5.1m | Added +4.3k |
| Lighthouse Investment Partners, LLC 0.17% of their portfolio | 100.0k $5.0m | Added +15.8k |
| GROUP ONE TRADING LLC 0.15% of their portfolio | 99.6k $5.0m | Added +17.2k |
| DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC 0.24% of their portfolio | 99.5k $5.0m | Reduced -3.2k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 99.4k $5.0m | Reduced -5.8k |
| Legal & General Group Plc 0.00% of their portfolio | 98.7k $5.0m | Reduced -5.6k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 97.0k $4.9m | Reduced -16.1k |
| Holocene Advisors, LP 0.01% of their portfolio | 93.4k $4.7m | New |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 88.8k $4.5m | Added +31.1k |
| Howard Capital Management, LLC 0.06% of their portfolio | 88.5k $4.5m | Reduced -1 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 84.3k $4.2m | Reduced -1.7k |