Victory Capital Amends Alaska Air Group Stake Filing

TL;DR

**Victory Capital still owns Alaska Air stock, signaling institutional confidence.**

AI Summary

Victory Capital Management Inc. filed an amended SC 13G/A on February 6, 2024, indicating its ownership of Alaska Air Group Inc. common stock as of December 31, 2023. This filing updates their previous disclosure, showing their continued significant, though passive, stake in the airline. This matters to investors because it confirms a major institutional investor maintains confidence in Alaska Air Group, potentially signaling stability or long-term value, even if their exact share count isn't detailed in this snippet.

Why It Matters

This filing shows a major institutional investor, Victory Capital Management Inc., continues to hold a significant position in Alaska Air Group, which can be a vote of confidence for other investors.

Risk Assessment

Risk Level: low — This is a routine update from an institutional investor and does not indicate any immediate financial risk or major change in company operations.

Analyst Insight

Investors should note that a major institutional investor is maintaining its position, suggesting a stable long-term outlook from their perspective, but this filing alone doesn't provide new catalysts for immediate action.

Key Numbers

• 0000766421 — Central Index Key (CIK) (for ALASKA AIR GROUP, INC.)
• 0001040188 — Central Index Key (CIK) (for VICTORY CAPITAL MANAGEMENT INC.)
• 011659109 — CUSIP Number (for Alaska Air Group Inc. Common Stock)

Key Players & Entities

• Victory Capital Management Inc. (company) — the reporting person filing the SC 13G/A
• ALASKA AIR GROUP, INC. (company) — the subject company whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• February 6, 2024 (date) — the filing date of the SC 13G/A
• New York (company) — place of organization for Victory Capital Management Inc.

Forward-Looking Statements

• Victory Capital Management Inc. will maintain a significant, passive stake in Alaska Air Group Inc. throughout 2024. (Victory Capital Management Inc.) — medium confidence, target: December 31, 2024

FAQ

Filing Documents

• alaskaair13ga1_123123.htm (SC 13G/A) — 38KB
• 0001040188-24-000005.txt ( ) — 40KB

If this statement is filed

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) x An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) ¨ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); (h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) ¨ Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 7441510 (b) Percent of class: 5.90% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 7307110 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 7441510 (iv) Shared power to dispose or to direct the disposition of: 0 Instruction . For computations regarding securities which represent a right to acquire an underlying security see §240.13d-3(d)(1).

Ownership of Five Percent

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial

Ownership of More than

Item 6. Ownership of More than Five Percent on Behalf of Another Person. The clients of Victory Capital Management Inc., including investment companies registered under the Investment Company Act of 1940 and separately managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the class of securities reported herein of . No client has the right to receive or the power to direct the receipt of dividends or the proceeds from the sale of, more than 5% of such class.

Identification and Classification

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not applicable.

Identification and Classification

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution

Item 9. Notice of Dissolution of Group. Not applicable. CUSIP No. 011659109 13G Page 4 of 4 Pages

Certification

Item 10. Certification. (a) The following certification shall be included if the statement is filed pursuant to §240.13d-1(b): By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. 2/6/2024 Date /s / Barry Garrett Barry Garrett/Chief Compliance Officer

View Full Filing

View this SC 13G/A filing on SEC EDGAR