ALASKA AIR GROUP INC

Ticker: ALK CUSIP: 011659109 Class: COM

PAR CAPITAL MANAGEMENT INC's Holding History (CIK: 0001051359)

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

Q4 2025

Shares 1,581,500 Value ($000) $79,549 Avg Close $46.23 Range $37.63 - $53.88

Q3 2025

Shares 1,119,302 Value ($000) $55,719 Avg Close $55.61 Range $48.81 - $65.88

Q2 2025

Shares 1,119,302 Value ($000) $55,383 Avg Close $48.58 Range $39.79 - $55.59

Q1 2025

Shares 1,075,576 Value ($000) $52,940 Avg Close $65.65 Range $47.37 - $78.08

Q4 2024

Shares 851,089 Value ($000) $55,108 Avg Close $52.57 Range $41.72 - $67.73

Q3 2024

Shares 945,654 Value ($000) $42,753 Avg Close $37.94 Range $32.62 - $45.57

Q2 2024

Shares 964,953 Value ($000) $38,984 Avg Close $42.43 Range $39.20 - $46.15

Q1 2024

Shares 974,700 Value ($000) $41,902 Avg Close $37.41 Range $33.24 - $43.27

Q4 2023

Shares 1,026,000 Value ($000) $40,086 Avg Close $35.66 Range $30.75 - $41.22

Q3 2023

Shares 1,080,000 Value ($000) $40,046 Avg Close $45.29 Range $36.15 - $57.18

Q2 2023

Shares 1,200,000 Value ($000) $63,816 Avg Close $45.46 Range $41.25 - $53.40

Q1 2023

Shares 1,200,000 Value ($000) $50,352 Avg Close $46.91 Range $37.20 - $53.96

Q4 2022

Shares 1,500,000 Value ($000) $64,410 Avg Close $44.06 Range $38.72 - $47.99

Q3 2022

Shares 1,500,000 Value ($000) $58,725 Avg Close $43.92 Range $38.44 - $48.76

Q2 2022

Shares 1,717,880 Value ($000) $68,801 Avg Close $48.82 Range $38.19 - $61.55

Q1 2022

Shares 1,603,900 Value ($000) $93,042 Avg Close $54.53 Range $43.46 - $61.07

Q4 2021

Shares 1,587,800 Value ($000) $82,724 Avg Close $54.14 Range $46.26 - $63.76

Q3 2021

Shares 1,607,600 Value ($000) $94,205 Avg Close $57.63 Range $51.75 - $62.85

Q2 2021

Shares 1,900,000 Value ($000) $114,589 Avg Close $67.48 Range $59.83 - $74.25

Q1 2021

Shares 2,007,600 Value ($000) $138,946 Avg Close $60.10 Range $48.09 - $73.75

Q4 2020

Shares 2,811,533 Value ($000) $146,200 Avg Close $44.98 Range $35.06 - $54.96

Q3 2020

Shares 2,060,625 Value ($000) $75,481 Avg Close $37.46 Range $33.22 - $43.94

Q2 2020

Shares 1,000,000 Value ($000) $36,260 Avg Close $32.56 Range $23.39 - $50.81

Q1 2020

Shares 1,915,361 Value ($000) $54,530 Avg Close $54.20 Range $20.02 - $68.40

Q4 2019

Shares 2,710,000 Value ($000) $183,603 Avg Close $67.73 Range $60.50 - $71.46

Q3 2019

Shares 2,710,000 Value ($000) $175,906 Avg Close $62.15 Range $56.52 - $65.82

Q2 2019

Shares 2,710,000 Value ($000) $173,196 Avg Close $59.66 Range $54.88 - $62.96

Q1 2019

Shares 2,710,000 Value ($000) $152,085 Avg Close $59.56 Range $52.22 - $65.81

Q4 2018

Shares 2,010,000 Value ($000) $122,309 Avg Close $62.77 Range $55.87 - $72.81

Q3 2018

Shares 2,500,000 Value ($000) $172,150 Avg Close $62.60 Range $55.86 - $68.52

Q2 2018

Shares 2,500,000 Value ($000) $150,975 Avg Close $59.49 Range $55.20 - $67.33

Q1 2018

Shares 2,500,000 Value ($000) $154,900 Avg Close $63.43 Range $56.51 - $71.97

Q4 2017

Shares 2,500,000 Value ($000) $183,775 Avg Close $67.65 Range $58.01 - $78.50

Q3 2017

Shares 2,500,000 Value ($000) $190,675 Avg Close $77.46 Range $67.57 - $90.57

Q2 2017

Shares 2,500,000 Value ($000) $224,400 Avg Close $82.77 Range $77.31 - $88.12

Q1 2017

Shares 4,502,364 Value ($000) $415,208 Avg Close $89.03 Range $81.01 - $95.59

Q4 2016

Shares 4,502,364 Value ($000) $399,495 Avg Close $73.89 Range $61.40 - $86.33

Q3 2016

Shares 4,552,364 Value ($000) $299,819 Avg Close $61.44 Range $52.62 - $67.05

Q2 2016

Shares 4,552,364 Value ($000) $265,357 Avg Close $64.23 Range $50.81 - $77.28

Q1 2016

Shares 4,552,364 Value ($000) $373,385 Avg Close $68.47 Range $56.94 - $77.12

Q4 2015

Shares 4,552,364 Value ($000) $366,511 Avg Close $73.15 Range $67.22 - $80.60

Q3 2015

Shares 4,552,364 Value ($000) $361,685 Avg Close $70.36 Range $54.34 - $76.34

Q2 2015

Shares 4,552,364 Value ($000) $293,309 Avg Close $59.18 Range $53.49 - $62.99

Q1 2015

Shares 4,552,364 Value ($000) $301,275 Avg Close $59.43 Range $52.76 - $65.28

Q4 2014

Shares 4,702,364 Value ($000) $281,013 Avg Close $48.12 Range $37.12 - $55.72

Q3 2014

Shares 4,702,364 Value ($000) $204,741 Avg Close $42.26 Range $38.06 - $45.61

Q2 2014

Shares 2,351,182 Value ($000) $223,480 Avg Close $43.26 Range $39.84 - $45.93

Q1 2014

Shares 2,351,182 Value ($000) $219,389 Avg Close $37.56 Range $32.81 - $42.62

Q4 2013

Shares 2,351,182 Value ($000) $172,506 Avg Close $32.10 Range $27.18 - $35.52

Q3 2013

Shares 4,269,282 Value ($000) $267,342 Avg Close $26.91 Range $23.00 - $29.20

Q2 2013

Shares 4,211,666 Value ($000) $219,007 Avg Close $26.50 Range $22.62 - $30.57

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	1,581,500	$79,549	$46.23	$37.63 - $53.88
Q3 2025	1,119,302	$55,719	$55.61	$48.81 - $65.88
Q2 2025	1,119,302	$55,383	$48.58	$39.79 - $55.59
Q1 2025	1,075,576	$52,940	$65.65	$47.37 - $78.08
Q4 2024	851,089	$55,108	$52.57	$41.72 - $67.73
Q3 2024	945,654	$42,753	$37.94	$32.62 - $45.57
Q2 2024	964,953	$38,984	$42.43	$39.20 - $46.15
Q1 2024	974,700	$41,902	$37.41	$33.24 - $43.27
Q4 2023	1,026,000	$40,086	$35.66	$30.75 - $41.22
Q3 2023	1,080,000	$40,046	$45.29	$36.15 - $57.18
Q2 2023	1,200,000	$63,816	$45.46	$41.25 - $53.40
Q1 2023	1,200,000	$50,352	$46.91	$37.20 - $53.96
Q4 2022	1,500,000	$64,410	$44.06	$38.72 - $47.99
Q3 2022	1,500,000	$58,725	$43.92	$38.44 - $48.76
Q2 2022	1,717,880	$68,801	$48.82	$38.19 - $61.55
Q1 2022	1,603,900	$93,042	$54.53	$43.46 - $61.07
Q4 2021	1,587,800	$82,724	$54.14	$46.26 - $63.76
Q3 2021	1,607,600	$94,205	$57.63	$51.75 - $62.85
Q2 2021	1,900,000	$114,589	$67.48	$59.83 - $74.25
Q1 2021	2,007,600	$138,946	$60.10	$48.09 - $73.75
Q4 2020	2,811,533	$146,200	$44.98	$35.06 - $54.96
Q3 2020	2,060,625	$75,481	$37.46	$33.22 - $43.94
Q2 2020	1,000,000	$36,260	$32.56	$23.39 - $50.81
Q1 2020	1,915,361	$54,530	$54.20	$20.02 - $68.40
Q4 2019	2,710,000	$183,603	$67.73	$60.50 - $71.46
Q3 2019	2,710,000	$175,906	$62.15	$56.52 - $65.82
Q2 2019	2,710,000	$173,196	$59.66	$54.88 - $62.96
Q1 2019	2,710,000	$152,085	$59.56	$52.22 - $65.81
Q4 2018	2,010,000	$122,309	$62.77	$55.87 - $72.81
Q3 2018	2,500,000	$172,150	$62.60	$55.86 - $68.52
Q2 2018	2,500,000	$150,975	$59.49	$55.20 - $67.33
Q1 2018	2,500,000	$154,900	$63.43	$56.51 - $71.97
Q4 2017	2,500,000	$183,775	$67.65	$58.01 - $78.50
Q3 2017	2,500,000	$190,675	$77.46	$67.57 - $90.57
Q2 2017	2,500,000	$224,400	$82.77	$77.31 - $88.12
Q1 2017	4,502,364	$415,208	$89.03	$81.01 - $95.59
Q4 2016	4,502,364	$399,495	$73.89	$61.40 - $86.33
Q3 2016	4,552,364	$299,819	$61.44	$52.62 - $67.05
Q2 2016	4,552,364	$265,357	$64.23	$50.81 - $77.28
Q1 2016	4,552,364	$373,385	$68.47	$56.94 - $77.12
Q4 2015	4,552,364	$366,511	$73.15	$67.22 - $80.60
Q3 2015	4,552,364	$361,685	$70.36	$54.34 - $76.34
Q2 2015	4,552,364	$293,309	$59.18	$53.49 - $62.99
Q1 2015	4,552,364	$301,275	$59.43	$52.76 - $65.28
Q4 2014	4,702,364	$281,013	$48.12	$37.12 - $55.72
Q3 2014	4,702,364	$204,741	$42.26	$38.06 - $45.61
Q2 2014	2,351,182	$223,480	$43.26	$39.84 - $45.93
Q1 2014	2,351,182	$219,389	$37.56	$32.81 - $42.62
Q4 2013	2,351,182	$172,506	$32.10	$27.18 - $35.52
Q3 2013	4,269,282	$267,342	$26.91	$23.00 - $29.20
Q2 2013	4,211,666	$219,007	$26.50	$22.62 - $30.57