The cluster reveals sharp divergence: major new active stakes (Capital World, DZ Bank) versus heavy trimming by large passive and quant funds (Fidelity, Capital Group, Point72). This suggests uncertainty around ALK's earnings trajectory or competitive positioning. Monitor upcoming quarterly results for a catalyst that could resolve the disagreement. The lack of insider buying (confluence score 39/100) weakens the bullish signal from the new positions.
Executive Summary
Institutional 13F cluster for ALK shows a mixed picture: 19 buyers added $436M in new positions (led by Capital World Investors and DZ Bank with $129.8M and $161.8M new stakes), while 27 sellers reduced holdings by $536M (led by Fidelity, Capital Group, and Point72 trimming or nearly exiting). The net institutional flow is negative (~$100M), but the presence of large new active positions suggests divergent views on Alaska Air's near-term outlook.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$99.9M
▲ Buyers (19)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Capital World Investors | NEW | — | $129.8M | $129.8M |
| Dz Bank Ag Deutsche Zentral Genossenschafts | NEW | — | $161.8M | $161.8M |
| Semper Augustus | DOUBLED | +314.2% | $62.3M | $41.8M |
| Marshall Wace | DOUBLED | +929.8% | $72.4M | $62.8M |
| Causeway | ADD | +74.4% | $92.0M | $19.9M |
▼ Sellers (27)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Fidelity | TRIM | -45.3% | $326.5M | -$195.8M |
| Capital Group | NEAR_EXIT | -85% | $159.7M | -$142.2M |
| Point72 | NEAR_EXIT | -77.5% | $91.9M | -$76.8M |
| Ameriprise Financial | TRIM | -25.1% | $95.6M | -$43.2M |
| BofA | TRIM | -37.4% | $77.6M | -$42.1M |
Key Facts
- Capital World Investors initiated a new $129.8M position (3.53M shares).
- DZ Bank initiated a new $161.8M position (4.40M shares).
- Semper Augustus more than quadrupled its stake (+314.2%) to $62.3M.
- Marshall Wace increased its position by 929.8% to $72.4M.
- Fidelity trimmed 45.3% of its stake, selling ~$195.8M worth.
- Capital Group nearly exited, reducing by 85.0% ($142.2M sold).
- Point72 nearly exited, reducing by 77.5% ($76.8M sold).
- Net institutional selling of approximately $100M across the cluster.
Financial Impact
Net institutional selling of ~$100M, with $436M in new buying offset by $536M in selling. Largest new positions total $291.6M from Capital World and DZ Bank.
Risk Factors
- Continued selling pressure from large holders like Fidelity and Capital Group could weigh on the stock.
- Earnings miss or negative guidance could validate the sellers' caution.
- 13F data is 45 days stale; positions may have already been adjusted.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-ALK-2026-Q1 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 21, 2026 6w ago | Insider Buy | $40.41 $41.90 | ▲ +3.69% | ▲ +4.21% | — |
Aug 17, 2026 6w ago | Institutional Cluster | $44.04 $40.71 | ▼ −7.56% | ▼ −6.04% | — |
Jul 4, 2026 12w ago | Institutional Cluster | $50.41 $47.45 | ▼ −5.87% | ▼ −5.31% | — |
Jun 17, 2026 15w ago | 8-K | $48.27 $47.62 | ▼ −1.35% | ▼ −2.66% | — |
Jun 3, 2026 17w ago | 8-K | $41.74 $51.25 | ▲ +22.79% | ▲ +23.91% | — |
May 20, 2026 19w ago | Court Ruling | $39.68 $48.27 | ▲ +21.65% | ▲ +21.69% | — |
May 12, 2026 20w ago | 8-K | $38.53 $46.66 | ▲ +21.10% | ▲ +21.72% | — |
May 7, 2026 21w ago | 8-K | $40.58 $41.87 | ▲ +3.18% | ▲ +0.05% | — |
Apr 20, 2026 23w ago | 8-K | $41.26 $37.36 | ▲ +9.45% | ▲ +14.37% | — |
Mar 30, 2026 26w ago | DEFA14A | $36.78 $38.63 | ▲ +5.03% | ▼ −4.39% | — |
US Market Status
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