PINNACLE WEST CAP CORP PNW
COM · Common Stock · CUSIP 723484101
American corporation
- SectorUtilities
- IndustryElectric Services
- HeadquartersPhoenix, AZ
- Founded1985
- Websitepinnaclewest.com
- 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 ($171.1m this quarter). Holder counts are more reliable. Shares outstanding: 121.2m as of 2026-07-28, 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 ≈ $106.99. Options: 8 managers hold calls ($33.2m notional), 6 hold puts ($8.3m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 481 |
| Q4 2022 | 542 |
| Q1 2023 | 526 |
| Q2 2023 | 526 |
| Q3 2023 | 525 |
| Q4 2023 | 552 |
| Q1 2024 | 525 |
| Q2 2024 | 544 |
| Q3 2024 | 580 |
| Q4 2024 | 618 |
| Q1 2025 | 618 |
| Q2 2025 | 632 |
| Q3 2025 | 625 |
| Q4 2025 | 659 |
| Q1 2026 | 708 |
| Q2 2026 | 729 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 269 | 230 |
| Q4 2024 | 291 | 246 |
| Q1 2025 | 299 | 252 |
| Q2 2025 | 314 | 248 |
| Q3 2025 | 288 | 271 |
| Q4 2025 | 316 | 235 |
| Q1 2026 | 349 | 238 |
| Q2 2026 | 372 | 254 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $18.0m | $5.0m | 0.28 |
| Q4 2025 | $10.9m | $7.7m | 0.71 |
| Q1 2026 | $27.7m | $7.6m | 0.27 |
| Q2 2026 | $33.2m | $8.3m | 0.25 |
Biggest buyers
| AMERICAN CENTURY COMPANIES INC | Added | +1.3m |
| FMR LLC | Added | +1.1m |
| BARCLAYS PLC | Added | +1.0m |
| Brookfield Corp /ON/ | Added | +960.6k |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +733.1k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | Added | +674.2k |
| Thrivent Financial for Lutherans | Added | +378.8k |
| Nuveen, LLC | Added | +359.4k |
| TWO SIGMA INVESTMENTS, LP | Added | +328.8k |
| Point72 Asset Management, L.P. | Added | +262.9k |
Biggest sellers
| Assenagon Asset Management S.A. | Reduced | -631.7k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | Reduced | -424.9k |
| Balyasny Asset Management L.P. | Reduced | -369.5k |
| Squarepoint Ops LLC | Reduced | -346.2k |
| Yaupon Capital Management LP | Sold out | -305.0k |
| Zimmer Partners, LP | Reduced | -282.5k |
| JPMORGAN CHASE & CO | Reduced | -176.4k |
| REAVES W H & CO INC | Reduced | -164.3k |
| Engineers Gate Manager LP | Reduced | -150.4k |
| MORGAN STANLEY | Reduced | -147.0k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $17.3m161.4k shares |
| Capital Investment Advisors, LLC | New | $5.9m54.8k shares |
| CITADEL ADVISORS LLC | Reduced | $4.6m43.1k shares |
| JANE STREET GROUP, LLC | Reduced | $4.0m37.0k shares |
| IMC-Chicago, LLC | Reduced | $898.8k8.4k shares |
| SIMPLEX TRADING, LLC | Added | $395.9k3.7k shares |
| Walleye Capital LLC | Added | $192.6k1.8k shares |
| Walleye Trading LLC | Reduced | $42.8k400 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $3.8m35.8k shares |
| Walleye Capital LLC | Added | $1.9m18.0k shares |
| JANE STREET GROUP, LLC | Reduced | $963.0k9.0k shares |
| IMC-Chicago, LLC | Added | $716.9k6.7k shares |
| SIMPLEX TRADING, LLC | Added | $460.1k4.3k shares |
| CITADEL ADVISORS LLC | Reduced | $417.3k3.9k 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 |
|---|---|
| Capital Research Global Investors 13G · institution +2.3 pts · filed 2026-05-14 | 13.6% |
| BlackRock, Inc. 13G · institution filed 2025-04-17 | 8.2% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.3% |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 13G · institution -0.4 pts · filed 2026-08-12 | 5.4% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales since 1 Apr 2026
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 |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 1 | $141.2k | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 1 | $97.2k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-08-10 | Blankenship Elizabeth A VP, Controller and CAO | Sold | $97.2k980 shares |
| 2026-08-07 | Esparza Jose Luis Jr SVP Public Policy APS | Sold | $183.6k1.8k shares |
| 2026-05-13 | Tetlow Jacob EVP, COO, APS | Sold | $650.1k6.6k 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, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| Capital Research Global Investors 0.25% of their portfolio | 16.5m $1.8bn | Added +57.3k |
| BlackRock, Inc. 0.02% of their portfolio | 11.8m $1.3bn | Added +14.3k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 7.9m $845.0m | Added +96.0k |
| STATE STREET CORP 0.02% of their portfolio | 7.0m $750.8m | Added +105.7k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 2.13% of their portfolio | 6.6m $703.6m | Reduced -424.9k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.03% of their portfolio | 6.0m $640.6m | Reduced -1.8k |
| ATLAS Infrastructure Partners (UK) Ltd. 17.30% of their portfolio | 5.3m $570.5m | Added +257.8k |
| Invesco Ltd. 0.04% of their portfolio | 4.2m $446.6m | Reduced -76.8k |
| Soroban Capital Partners LP 2.93% of their portfolio | 3.9m $414.6m | Added +20.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 3.2m $344.3m | Added +89.5k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.10% of their portfolio | 2.9m $305.3m | Added +9.3k |
| TWO SIGMA INVESTMENTS, LP 0.20% of their portfolio | 2.5m $269.4m | Added +328.8k |
| MORGAN STANLEY 0.01% of their portfolio | 1.9m $204.8m | Reduced -147.0k |
| BARCLAYS PLC 0.06% of their portfolio | 1.8m $188.3m | Added +1.0m |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 1.6m $171.5m | Added +34.5k |
| WELLINGTON MANAGEMENT GROUP LLP 0.03% of their portfolio | 1.5m $155.9m | Added +733.1k |
| AMERICAN CENTURY COMPANIES INC 0.07% of their portfolio | 1.4m $154.6m | Added +1.3m |
| Pictet Asset Management Holding SA 0.14% of their portfolio | 1.4m $150.9m | Reduced -6.8k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 1.4m $146.9m | Added +26.9k |
| Nuveen, LLC 0.03% of their portfolio | 1.3m $143.7m | Added +359.4k |
| NORGES BANK 0.01% of their portfolio | 1.3m $139.6m | Not comparable |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 1.2m $126.1m | Added +31.3k |
| FMR LLC 0.01% of their portfolio | 1.2m $123.9m | Added +1.1m |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.1m $117.5m | Added +7.4k |
| FRANKLIN RESOURCES INC 0.03% of their portfolio | 1.1m $116.4m | Added +11.5k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.15% of their portfolio | 1.0m $109.2m | Added +674.2k |
| Brookfield Corp /ON/ 0.13% of their portfolio | 961.8k $102.9m | Added +960.6k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 957.1k $102.4m | Added +2.8k |
| UBS Group AG 0.02% of their portfolio | 925.9k $99.1m | Reduced -40.0k |
| FIRST TRUST ADVISORS LP 0.06% of their portfolio | 922.9k $98.8m | Reduced -59.6k |
| REAVES W H & CO INC 1.48% of their portfolio | 913.8k $97.8m | Reduced -164.3k |
| Empower Advisory Group, LLC 0.23% of their portfolio | 901.7k $96.5m | Added +14.1k |
| Squarepoint Ops LLC 0.18% of their portfolio | 881.6k $94.3m | Reduced -346.2k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 766.3k $82.0m | Reduced -81.6k |
| CINCINNATI FINANCIAL CORP 1.49% of their portfolio | 729.5k $78.1m | Unchanged |
| VANGUARD FIDUCIARY TRUST CO 0.02% of their portfolio | 680.5k $72.8m | Added +6.6k |
| Thrivent Financial for Lutherans 0.12% of their portfolio | 646.4k $69.2m | Added +378.8k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.63% of their portfolio | 624.9k $66.9m | Unchanged |
| Quantinno Capital Management LP 0.08% of their portfolio | 624.8k $66.9m | Added +230.0k |
| Perpetual Ltd 0.93% of their portfolio | 608.7k $65.1m | Added +20.4k |
| HSBC HOLDINGS PLC 0.03% of their portfolio | 606.6k $65.0m | Reduced -44.4k |
| Epoch Investment Partners, Inc. 0.36% of their portfolio | 588.4k $63.0m | Added +90.1k |
| Legal & General Group Plc 0.01% of their portfolio | 576.5k $61.7m | Added +23.1k |
| VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio | 489.1k $52.3m | Added +144.6k |
| Gotham Asset Management, LLC 0.12% of their portfolio | 474.6k $50.8m | Reduced -24.5k |
| Newport Trust Company, LLC 0.12% of their portfolio | 451.8k $48.3m | Reduced -7.4k |
| Balyasny Asset Management L.P. 0.09% of their portfolio | 439.4k $47.0m | Reduced -369.5k |
| RENAISSANCE TECHNOLOGIES LLC 0.06% of their portfolio | 435.0k $46.5m | Reduced -141.1k |
| AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 432.8k $46.3m | Added +9.7k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 382.2k $41.8m | Reduced -176.4k |
| Point72 Asset Management, L.P. 0.06% of their portfolio | 365.3k $39.1m | Added +262.9k |
| Assenagon Asset Management S.A. 0.03% of their portfolio | 364.4k $39.0m | Reduced -631.7k |
| Treasurer of the State of North Carolina 0.10% of their portfolio | 360.3k $38.6m | Added +14.3k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 360.3k $38.6m | Reduced -36.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 342.5k $36.6m | Reduced -12.3k |
| GABELLI FUNDS LLC 0.23% of their portfolio | 341.7k $36.6m | Added +8.0k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 333.4k $35.7m | Reduced -104.3k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 317.0k $33.9m | Added +33.3k |
| CINCINNATI INSURANCE CO 0.46% of their portfolio | 296.8k $31.8m | Unchanged |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 291.7k $31.2m | Added +10.5k |
| DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC 1.21% of their portfolio | 271.0k $29.0m | Reduced -6.1k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 265.8k $28.4m | Added +218.3k |
| HITE Hedge Asset Management LLC 1.46% of their portfolio | 250.0k $26.7m | New |
| Vanguard Global Advisers, LLC 0.01% of their portfolio | 249.3k $26.7m | Reduced -622 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 248.7k $26.6m | Added +5.2k |
| CITIGROUP INC 0.01% of their portfolio | 244.2k $26.1m | Added +85.1k |
| Swiss National Bank 0.01% of their portfolio | 242.9k $26.0m | Added +6.0k |
| TORONTO DOMINION BANK 0.04% of their portfolio | 242.3k $25.9m | Added +206.2k |
| HRT FINANCIAL LP 0.06% of their portfolio | 228.4k $24.4m | Added +55.8k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 223.7k $23.9m | Added +1.5k |
| JENNISON ASSOCIATES LLC 0.01% of their portfolio | 218.9k $23.4m | Reduced -7.1k |
| Amundi 0.01% of their portfolio | 218.8k $23.4m | Added +64.1k |
| Zimmer Partners, LP 0.55% of their portfolio | 217.6k $23.3m | Reduced -282.5k |
| California Public Employees Retirement System 0.01% of their portfolio | 216.4k $23.2m | Reduced -58.9k |
| AE Wealth Management LLC 0.11% of their portfolio | 216.4k $23.2m | Added +27.1k |
| Arbejdsmarkedets Tillaegspension 0.50% of their portfolio | 214.2k $22.9m | New |
| Creative Planning 0.01% of their portfolio | 207.8k $22.2m | Added +43.6k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 205.8k $22.0m | Reduced -6.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 201.2k $21.5m | Added +818 |
| Susquehanna Portfolio Strategies, LLC 0.33% of their portfolio | 195.9k $21.0m | Added +7.7k |
| Midwest Trust Co 0.24% of their portfolio | 195.5k $20.9m | Reduced -1.4k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.10% of their portfolio | 192.8k $20.6m | Reduced -18.7k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 182.5k $19.5m | Reduced -42.8k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 181.6k $19.4m | Added +13.4k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 175.7k $18.8m | Added +897 |
| MIZUHO MARKETS AMERICAS LLC 0.33% of their portfolio | 172.9k $18.5m | Added +161.8k |
| STIFEL FINANCIAL CORP 0.02% of their portfolio | 172.0k $18.4m | Added +5.3k |
| Bridgewater Associates, LP 0.07% of their portfolio | 169.1k $18.1m | Added +4.3k |
| CAPITAL FUND MANAGEMENT S.A. 0.13% of their portfolio | 167.8k $17.9m | Added +50.6k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 163.0k $17.4m | Reduced -14.3k |
| FEDERATED HERMES, INC. 0.03% of their portfolio | 162.8k $17.4m | Reduced -105 |
| Connor, Clark & Lunn Investment Management Ltd. 0.03% of their portfolio | 155.0k $16.6m | Added +47.8k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.06% of their portfolio | 154.5k $16.5m | Added +130.2k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.07% of their portfolio | 150.7k $16.1m | Reduced -76.8k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.01% of their portfolio | 149.7k $16.0m | Added +12.0k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 140.0k $15.0m | Reduced -3.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 134.9k $14.4m | Added +1.6k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 134.7k $13.6m | Added +3.3k |
| Harvest Portfolios Group Inc. 0.20% of their portfolio | 131.4k $14.1m | Added +8.0k |
| CAPTRUST FINANCIAL ADVISORS 0.02% of their portfolio | 128.9k $13.8m | Reduced -6.7k |