PG&E CORP PCG
COM · Common Stock · CUSIP 69331C108 · ISIN US69331C1080
Parent and holding company of Pacific Gas and Electric Company
- SectorUtilities
- IndustryElectric & Other Services Combined
- HeadquartersOakland, CA
- Founded1995
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($87.6m this quarter). Holder counts are more reliable. Shares outstanding: 2.7bn as of 2025-04-16, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $17.20. Options: 46 managers hold calls ($651.2m notional), 41 hold puts ($283.2m).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 442 |
| Q4 2022 | 524 |
| Q1 2023 | 543 |
| Q2 2023 | 560 |
| Q3 2023 | 599 |
| Q4 2023 | 636 |
| Q1 2024 | 657 |
| Q2 2024 | 662 |
| Q3 2024 | 679 |
| Q4 2024 | 733 |
| Q1 2025 | 753 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 306 | 196 |
| Q3 2023 | 346 | 188 |
| Q4 2023 | 334 | 244 |
| Q1 2024 | 339 | 281 |
| Q2 2024 | 345 | 271 |
| Q3 2024 | 371 | 266 |
| Q4 2024 | 421 | 237 |
| Q1 2025 | 428 | 339 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $411.7m | $233.0m | 0.57 |
| Q3 2024 | $511.1m | $269.7m | 0.53 |
| Q4 2024 | $206.3m | $331.2m | 1.61 |
| Q1 2025 | $651.2m | $283.2m | 0.43 |
Biggest buyers
| Gallagher Fiduciary Advisors, LLC | New | +20.7m |
| Sessa Capital IM, L.P. | New | +18.7m |
| CANADA PENSION PLAN INVESTMENT BOARD | Added | +14.9m |
| PointState Capital LP | New | +13.8m |
| BlackRock, Inc. | Added | +12.7m |
| AQR CAPITAL MANAGEMENT LLC | Added | +12.5m |
| ATLAS Infrastructure Partners (UK) Ltd. | Added | +6.9m |
| Squarepoint Ops LLC | Added | +5.0m |
| Brookfield Corp /ON/ | Added | +4.5m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +4.5m |
Biggest sellers
| FMR LLC | Reduced | -30.1m |
| Capital International Investors | Reduced | -20.9m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -14.2m |
| BESSEMER GROUP INC | Reduced | -14.2m |
| Capital Research Global Investors | Reduced | -9.9m |
| ClearBridge Investments Ltd | Sold out | -7.5m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -6.9m |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | Reduced | -5.6m |
| JPMORGAN CHASE & CO | Reduced | -5.3m |
| Zurich Insurance Group Ltd/FI | Sold out | -3.6m |
Biggest calls
| CITADEL ADVISORS LLC | Added | $202.4m11.8m shares |
| Zimmer Partners, LP | New | $103.1m6.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $59.4m3.5m shares |
| KING STREET CAPITAL MANAGEMENT, L.P. | New | $43.0m2.5m shares |
| SIMPLEX TRADING, LLC | Added | $28.5m1.7m shares |
| Caption Management, LLC | New | $23.3m1.4m shares |
| JPMORGAN CHASE & CO | Reduced | $23.3m1.4m shares |
| Centiva Capital, LP | New | $18.4m1.1m shares |
| WOLVERINE TRADING, LLC | Added | $17.1m1.0m shares |
| JANE STREET GROUP, LLC | Added | $16.0m933.7k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $69.9m4.1m shares |
| Portman Square Capital LLP | Added | $55.4m3.2m shares |
| Caption Management, LLC | New | $21.5m1.2m shares |
| SIMPLEX TRADING, LLC | Reduced | $14.4m839.6k shares |
| HSBC HOLDINGS PLC | Reduced | $9.8m576.2k shares |
| BNP PARIBAS FINANCIAL MARKETS | First filing | $9.0m5.3k shares |
| Balyasny Asset Management L.P. | Unchanged | $8.6m500.0k shares |
| JPMORGAN CHASE & CO | Added | $7.8m455.0k shares |
| GROUP ONE TRADING LLC | Added | $6.9m401.1k shares |
| NOMURA HOLDINGS INC | New | $6.0m350.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-04-25 | 8.1% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.4% |
| FMR LLC 13G · institution -1.1 pts · filed 2025-08-06 | 6.0% |
| STATE STREET CORP 13G · institution +1.0 pts · filed 2025-05-13 | 5.2% |
| PointState Capital LP 13G · passive investor new · filed 2026-09-04 | 5.1% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-07-31 | 5.0% |
Fell to 5% or below in the last year: MASSACHUSETTS FINANCIAL SERVICES CO /MA/ (4.7%, 2026-08-12), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 0 | — | 1 | $169.0k | $169.0k |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 1 | $1.0m | $1.0m |
| Q3 2024 | 0 | — | 1 | $707.2k | $707.2k |
| Q4 2024 | 0 | — | 1 | $1.1m | $1.1m |
| Q1 2025 | 5 | $321.9k | 2 | $775.3k | $775.3k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-03-11 | DENAULT LEO P Director | Bought | $100.5k6.3k shares |
| 2025-03-10 | Glickman Jason M EVP, EPS at PG&E Company | Sold | $632.2k40.2k shares |
| 2025-03-06 | Williams Stephanie N VP and Controller | Sold plan | $242.9k15.0k shares |
| 2025-03-04 | Santos Marlene EVP, CCO at PG&E Company | Sold plan | $2.1m125.7k shares |
| 2025-03-04 | Peterman Carla J EVP/Corp. Affairs & CSO | Sold plan | $532.4k32.5k shares |
| 2025-02-25 | Bahri Rajat Director | Bought | $50.1k3.2k shares |
| 2025-02-25 | HERNANDEZ CARLOS M Director | Bought | $50.0k3.1k shares |
| 2025-02-21 | Denecour Jessica Director | Bought | $21.3k1.3k shares |
| 2025-02-20 | Harris Arno Lockheart Director · Held by Harris Living Trust | Bought | $100.1k6.4k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.08% of their portfolio | 257.3m $4.4bn | Added +2.9m |
| BlackRock, Inc. 0.08% of their portfolio | 207.4m $3.6bn | Added +12.7m |
| FMR LLC 0.17% of their portfolio | 157.4m $2.7bn | Reduced -30.1m |
| JPMORGAN CHASE & CO 0.16% of their portfolio | 123.5m $2.1bn | Reduced -5.3m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.68% of their portfolio | 118.5m $2.0bn | Added +4.5m |
| STATE STREET CORP 0.08% of their portfolio | 114.0m $2.0bn | Added +2.8m |
| GEODE CAPITAL MANAGEMENT, LLC 0.08% of their portfolio | 56.4m $982.3m | Added +4.4m |
| Capital International Investors 0.19% of their portfolio | 56.2m $964.5m | Reduced -20.9m |
| Third Point LLC 13.79% of their portfolio | 51.1m $877.9m | Added +2.6m |
| DEUTSCHE BANK AG\ 0.29% of their portfolio | 42.2m $724.8m | Added +127.8k |
| Capital Research Global Investors 0.14% of their portfolio | 36.9m $634.2m | Reduced -9.9m |
| AMERIPRISE FINANCIAL INC 0.17% of their portfolio | 35.8m $615.0m | Added +264.9k |
| Brookfield Corp /ON/ 0.53% of their portfolio | 33.9m $582.8m | Added +4.5m |
| NORGES BANK 0.07% of their portfolio | 29.9m $514.3m | Added +619.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.06% of their portfolio | 28.9m $495.9m | Reduced -14.2m |
| WELLINGTON MANAGEMENT GROUP LLP 0.09% of their portfolio | 26.5m $454.9m | Reduced -6.9m |
| Legal & General Group Plc 0.10% of their portfolio | 21.4m $366.9m | Added +1.7m |
| Gallagher Fiduciary Advisors, LLC 11.72% of their portfolio | 20.7m $356.3m | New |
| NORTHERN TRUST CORP 0.05% of their portfolio | 19.9m $342.6m | Added +818.4k |
| FRANKLIN RESOURCES INC 0.10% of their portfolio | 19.9m $342.4m | Added +237.4k |
| Pictet Asset Management Holding SA 0.38% of their portfolio | 19.8m $339.6m | Added +2.4m |
| CANADA PENSION PLAN INVESTMENT BOARD 0.32% of their portfolio | 19.2m $329.4m | Added +14.9m |
| Sessa Capital IM, L.P. 13.24% of their portfolio | 18.7m $321.0m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.08% of their portfolio | 17.4m $298.5m | Added +713.2k |
| AQR CAPITAL MANAGEMENT LLC 0.29% of their portfolio | 16.5m $280.3m | Added +12.5m |
| Invesco Ltd. 0.05% of their portfolio | 15.2m $260.7m | Reduced -1.8m |
| Point72 Asset Management, L.P. 0.73% of their portfolio | 15.1m $260.2m | Added +3.2m |
| MORGAN STANLEY 0.02% of their portfolio | 15.1m $259.9m | Added +510.0k |
| Sixth Street Partners Management Company, L.P. 33.34% of their portfolio | 14.8m $254.4m | Unchanged |
| PointState Capital LP 5.17% of their portfolio | 13.8m $236.3m | New |
| Zimmer Partners, LP 4.70% of their portfolio | 13.5m $231.7m | Added +825.6k |
| BANK OF MONTREAL /CAN/ 0.12% of their portfolio | 13.1m $225.1m | Reduced -711.0k |
| MILLENNIUM MANAGEMENT LLC 0.22% of their portfolio | 13.0m $222.9m | Added +377.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio | 12.9m $221.3m | Added +720.5k |
| JENNISON ASSOCIATES LLC 0.15% of their portfolio | 12.3m $210.7m | Reduced -165.6k |
| Bank of New York Mellon Corp 0.04% of their portfolio | 11.5m $197.1m | Reduced -18.4k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 11.3m $194.7m | Added +4.2m |
| ATLAS Infrastructure Partners (UK) Ltd. 12.60% of their portfolio | 10.4m $179.2m | Added +6.9m |
| UBS Group AG 0.04% of their portfolio | 10.1m $173.4m | Added +462.7k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 8.7m $149.8m | Reduced -2.8m |
| HSBC HOLDINGS PLC 0.10% of their portfolio | 8.5m $145.9m | Added +727.8k |
| CITADEL ADVISORS LLC 0.13% of their portfolio | 7.9m $136.1m | Reduced -3.0m |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 7.4m $126.5m | Reduced -222.6k |
| Ensign Peak Advisors, Inc 0.24% of their portfolio | 7.2m $123.4m | Added +150.5k |
| ECP ControlCo, LLC 50.42% of their portfolio | 7.1m $122.4m | Unchanged |
| California Public Employees Retirement System 0.08% of their portfolio | 7.0m $120.0m | Added +140.8k |
| Nuveen, LLC 0.04% of their portfolio | 6.9m $118.1m | First filing |
| LOCUST WOOD CAPITAL ADVISERS, LLC 3.95% of their portfolio | 6.6m $113.1m | Reduced -1.0m |
| COHEN & STEERS, INC. 0.20% of their portfolio | 6.4m $110.7m | Reduced -3.0m |
| Clearbridge Investments, LLC 0.10% of their portfolio | 6.3m $108.8m | Reduced -147.4k |
| Swiss National Bank 0.08% of their portfolio | 6.2m $106.3m | Added +450.4k |
| MACQUARIE GROUP LTD 0.13% of their portfolio | 6.1m $104.3m | Added +94.1k |
| BARCLAYS PLC 0.05% of their portfolio | 6.1m $104.3m | Reduced -634.8k |
| Owl Creek Asset Management, L.P. 15.95% of their portfolio | 5.7m $98.4m | Added +3.1m |
| BNP PARIBAS FINANCIAL MARKETS 0.08% of their portfolio | 5.7m $98.3m | First filing |
| Sumitomo Mitsui Trust Group, Inc. 0.07% of their portfolio | 5.7m $97.7m | Added +408.1k |
| CITIGROUP INC 0.07% of their portfolio | 5.5m $95.1m | Added +1.3m |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC 1.43% of their portfolio | 5.4m $93.3m | Reduced -858.9k |
| Amundi 0.03% of their portfolio | 5.3m $92.3m | Added +241.5k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 1.04% of their portfolio | 5.2m $88.7m | Added +232.2k |
| VAN ECK ASSOCIATES CORP 0.11% of their portfolio | 5.2m $88.7m | Added +1.6m |
| Squarepoint Ops LLC 0.21% of their portfolio | 5.1m $87.2m | Added +5.0m |
| Capitolis Liquid Global Markets LLC 0.66% of their portfolio | 4.4m $75.0m | Reduced -1.2m |
| Artemis Investment Management LLP 1.15% of their portfolio | 4.4m $74.9m | Reduced -153.7k |
| RHUMBLINE ADVISERS 0.07% of their portfolio | 4.3m $74.0m | Added +59.5k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.42% of their portfolio | 4.2m $71.6m | Added +109.1k |
| Aberdeen Group plc 0.14% of their portfolio | 4.1m $69.5m | Added +2.5m |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.06% of their portfolio | 3.9m $66.6m | Added +532.6k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.08% of their portfolio | 3.8m $65.3m | Added +172.4k |
| Empyrean Capital Partners, LP 3.49% of their portfolio | 3.8m $65.3m | Reduced -2.1m |
| MACKENZIE FINANCIAL CORP 0.09% of their portfolio | 3.5m $60.2m | Reduced -1.6m |
| FIRST TRUST ADVISORS LP 0.05% of their portfolio | 3.5m $60.1m | Added +2.2m |
| Man Group plc 0.17% of their portfolio | 3.3m $56.4m | Added +3.0m |
| REAVES W H & CO INC 1.42% of their portfolio | 3.2m $55.6m | Reduced -295.6k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.10% of their portfolio | 3.2m $55.0m | Reduced -5.6m |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.11% of their portfolio | 3.1m $54.0m | Reduced -14.1k |
| Balyasny Asset Management L.P. 0.13% of their portfolio | 3.0m $52.0m | Added +911.1k |
| National Pension Service 0.05% of their portfolio | 3.0m $52.0m | Added +331.6k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 3.0m $51.1m | Added +1.9m |
| Madison Avenue Partners, LP 4.30% of their portfolio | 3.0m $50.7m | New |
| CANADA LIFE ASSURANCE Co 0.09% of their portfolio | 2.9m $50.7m | Added +105.2k |
| CADEN CAPITAL PARTNERS, LP 14.69% of their portfolio | 2.8m $47.6m | Added +354.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 2.8m $47.6m | Reduced -65.0k |
| VOYA INVESTMENT MANAGEMENT LLC 0.03% of their portfolio | 2.7m $46.0m | Added +1.4m |
| LPL Financial LLC 0.02% of their portfolio | 2.6m $45.1m | Added +549.2k |
| CAUSEWAY CAPITAL MANAGEMENT LLC 0.92% of their portfolio | 2.6m $44.1m | Added +46.6k |
| Russell Investments Group, Ltd. 0.06% of their portfolio | 2.5m $43.7m | Reduced -86.8k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 2.5m $42.8m | Reduced -3.1m |
| Silver Point Capital L.P. 4.02% of their portfolio | 2.5m $42.1m | New |
| PRUDENTIAL FINANCIAL INC 0.06% of their portfolio | 2.4m $41.8m | Added +474.9k |
| NATIONAL BANK OF CANADA /FI/ 0.05% of their portfolio | 2.4m $41.3m | Added +182.8k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 2.4m $40.9m | Added +45.8k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.06% of their portfolio | 2.2m $38.3m | Added +383.7k |
| Korea Investment CORP 0.09% of their portfolio | 2.1m $36.7m | Added +632.1k |
| Electron Capital Partners, LLC 2.58% of their portfolio | 2.1m $36.1m | Reduced -2.6m |
| NEUBERGER BERMAN GROUP LLC 0.03% of their portfolio | 2.1m $35.8m | Added +37.0k |
| UniSuper Management Pty Ltd 0.27% of their portfolio | 2.1m $35.6m | Added +19.5k |
| Sourcerock Group LLC 1.98% of their portfolio | 2.0m $35.2m | New |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.03% of their portfolio | 2.0m $34.3m | New |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.08% of their portfolio | 2.0m $33.9m | Reduced -2.5k |