A clutch for an automatic transmission includes a clutch pack having a first set of friction disks interleaved with a second set of friction disks. The clutch further includes an annulus having an outer surface connected to the first friction disks and an inner surface. The annulus defines oil holes extending from the inner surface to the outer surface to permit oil to flow from the inner surface to the clutch pack. Air passageways are defined in the annulus and extend through the annulus permitting air to flow from the inner surface to the clutch pack to reduce drag losses between the first and second sets of disks. Each of the air passageways have an entrance that is radially inboard of an entrance of each of the oil holes.