[SCHEDULE 13G/A] ALASKA AIR GROUP, INC. SEC Filing

Rhea-AI Filing Summary

Alaska Air Group (ALK) received a Schedule 13G/A (Amendment No. 2) from Victory Capital Management, Inc. reporting beneficial ownership of 57,715 shares of common stock, equal to 0.05% of the class as of 09/30/2025.

Victory, classified as an investment adviser, reports sole voting and sole dispositive power over 57,715 shares, with no shared power. The filer certified the position was acquired and is held in the ordinary course and not to change or influence control of the issuer.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

ALASKA AIR GROUP, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

011659109

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 011659109

1

Names of Reporting Persons

Victory Capital Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 57.71
6	Shared Voting Power 0.00
7	Sole Dispositive Power 57.71
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

57.71

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

.05 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ALASKA AIR GROUP, INC.
(b)	Address of issuer's principal executive offices: 19300 International Boulevard Seatac, WA 98188
Item 2.
(a)	Name of person filing: Victory Capital Management, Inc.
(b)	Address or principal business office or, if none, residence: 15935 La Cantera Pkwy San Antonio, TX 78256
(c)	Citizenship: New York
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 011659109
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)	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)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 57,715
(b)	Percent of class: .05 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 57,715
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 57,715
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

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, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

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.

Victory Capital Management, Inc.

Signature:	Sean Fox
Name/Title:	Chief Compliance Officer
Date:	10/24/2025

FAQ

What did ALK disclose in this Schedule 13G/A?

A filing by Victory Capital Management, Inc. reporting 57,715 shares of Alaska Air Group common stock, representing 0.05% of the class.

What is the percentage ownership reported for ALK by Victory Capital?

Victory reported beneficial ownership of 0.05% of Alaska Air Group’s common stock.

How many ALK shares does Victory Capital report owning?

Victory reports beneficial ownership of 57,715 shares.

What voting and dispositive powers does Victory report over ALK shares?

Victory reports sole voting power: 57,715; shared voting: 0. Sole dispositive power: 57,715; shared dispositive: 0.

What is the date of the event requiring this filing for ALK?

The event date is 09/30/2025.

Is Victory Capital’s ALK stake filed on a passive basis?

Yes. The certification states the securities were acquired and are held in the ordinary course and not to change or influence control.

What is Victory Capital’s filer type in this 13G/A?

Victory is classified as an investment adviser (IA).