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 ($55.9m this quarter). Holder counts are more reliable. Shares outstanding: 113.6m as of 2024-04-25, 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 ≈ $74.64. Options: 11 managers hold calls ($20.7m notional), 13 hold puts ($18.7m).
Trends to Q1 2024
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 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 277 | 176 |
| Q1 2023 | 247 | 226 |
| Q2 2023 | 197 | 246 |
| Q3 2023 | 220 | 259 |
| Q4 2023 | 218 | 261 |
| Q1 2024 | 230 | 272 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $19.1m | $13.1m | 0.69 |
| Q3 2023 | $16.4m | $16.3m | 0.99 |
| Q4 2023 | $21.7m | $24.0m | 1.10 |
| Q1 2024 | $20.7m | $18.7m | 0.90 |
Biggest buyers
| Capital Research Global Investors | Added | +6.3m |
| ATLAS Infrastructure Partners (UK) Ltd. | New | +3.3m |
| LAZARD ASSET MANAGEMENT LLC | Added | +2.8m |
| Zimmer Partners, LP | New | +2.7m |
| Pictet Asset Management Holding SA | Added | +1.8m |
| MORGAN STANLEY | Added | +1.4m |
| ExodusPoint Capital Management, LP | New | +678.5k |
| NORGES BANK | Added | +530.0k |
| DEUTSCHE BANK AG\ | Added | +455.1k |
| Schonfeld Strategic Advisors LLC | Added | +423.4k |
Biggest sellers
| ENVESTNET ASSET MANAGEMENT INC | Reduced | -845.5k |
| FIRST TRUST ADVISORS LP | Reduced | -835.9k |
| JENNISON ASSOCIATES LLC | Sold out | -461.9k |
| Qube Research & Technologies Ltd | Sold out | -390.7k |
| STATE STREET CORP | Reduced | -321.7k |
| JPMORGAN CHASE & CO | Reduced | -306.2k |
| Invesco Ltd. | Reduced | -256.9k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -255.9k |
| AMERIPRISE FINANCIAL INC | Reduced | -254.2k |
| FRANKLIN RESOURCES INC | Reduced | -239.4k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $7.0m93.7k shares |
| CITADEL ADVISORS LLC | Added | $3.8m50.6k shares |
| CastleKnight Management LP | New | $3.0m40.0k shares |
| PEAK6 Investments LLC | New | $1.7m22.1k shares |
| SIMPLEX TRADING, LLC | Added | $1.6m22.0k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $1.6m21.9k shares |
| Walleye Trading LLC | Reduced | $993.9k13.3k shares |
| Cubist Systematic Strategies, LLC | New | $448.4k6.0k shares |
| JANE STREET GROUP, LLC | Reduced | $403.5k5.4k shares |
| GROUP ONE TRADING LLC | New | $142.0k1.9k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $6.2m82.7k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $3.3m43.7k shares |
| SIMPLEX TRADING, LLC | Reduced | $3.0m40.1k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $1.7m22.9k shares |
| Walleye Capital LLC | Added | $1.3m16.9k shares |
| PEAK6 Investments LLC | New | $1.1m14.2k shares |
| WOLVERINE TRADING, LLC | Reduced | $747.3k10.0k shares |
| Walleye Trading LLC | Reduced | $605.3k8.1k shares |
| Cubist Systematic Strategies, LLC | New | $463.3k6.2k shares |
| JANE STREET GROUP, LLC | Reduced | $306.4k4.1k 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 in Q1 2024
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 2022 | 0 | — | 0 | — | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 1 | $122.3k | — |
| Q1 2024 | 0 | — | 0 | — | — |
None reported in Q1 2024.
Holders, Q1 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.02% of their portfolio | 14.1m $1.1bn | Reduced -155.2k |
| Capital Research Global Investors 0.22% of their portfolio | 12.9m $960.4m | Added +6.3m |
| BlackRock Inc. 0.02% of their portfolio | 10.3m $769.2m | Added +250.5k |
| LAZARD ASSET MANAGEMENT LLC 0.61% of their portfolio | 6.7m $502.1m | Added +2.8m |
| STATE STREET CORP 0.02% of their portfolio | 6.5m $484.1m | Reduced -321.7k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 1.41% of their portfolio | 5.6m $419.0m | Reduced -114.9k |
| MORGAN STANLEY 0.01% of their portfolio | 4.2m $316.6m | Added +1.4m |
| Invesco Ltd. 0.06% of their portfolio | 3.8m $280.9m | Reduced -256.9k |
| ATLAS Infrastructure Partners (UK) Ltd. 16.89% of their portfolio | 3.3m $249.9m | New |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 2.8m $207.4m | Added +111.9k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.06% of their portfolio | 2.7m $203.8m | Reduced -18.1k |
| Zimmer Partners, LP 4.32% of their portfolio | 2.7m $198.4m | New |
| NORGES BANK 0.02% of their portfolio | 2.1m $157.1m | Added +530.0k |
| AMERICAN CENTURY COMPANIES INC 0.09% of their portfolio | 1.9m $139.4m | Added +42.4k |
| Pictet Asset Management Holding SA 0.15% of their portfolio | 1.8m $135.0m | Added +1.8m |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.3m $96.5m | Reduced -306.2k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.1m $83.4m | Reduced -43.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 1.0m $75.2m | Added +15.1k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 993.7k $74.3m | Reduced -13.1k |
| REAVES W H & CO INC 2.57% of their portfolio | 969.2k $72.4m | Added +154.9k |
| Empower Advisory Group, LLC 0.26% of their portfolio | 939.8k $70.2m | Added +37.6k |
| Legal & General Group Plc 0.02% of their portfolio | 930.8k $69.6m | Added +6.7k |
| FRANKLIN RESOURCES INC 0.02% of their portfolio | 882.8k $66.0m | Reduced -239.4k |
| CAPTRUST FINANCIAL ADVISORS 0.20% of their portfolio | 854.7k $53.8m | Added +102.0k |
| Nuveen Asset Management, LLC 0.02% of their portfolio | 850.6k $63.8m | Added +316.5k |
| CINCINNATI FINANCIAL CORP 1.20% of their portfolio | 729.5k $54.5m | Unchanged |
| ExodusPoint Capital Management, LP 0.63% of their portfolio | 678.5k $50.7m | New |
| California Public Employees Retirement System 0.03% of their portfolio | 666.0k $49.8m | Added +16.2k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 644.3k $48.2m | Added +78.4k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.21% of their portfolio | 641.9k $48.0m | Added +31.2k |
| Epoch Investment Partners, Inc. 0.21% of their portfolio | 625.2k $46.7m | Reduced -108.8k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.56% of their portfolio | 624.9k $46.7m | Unchanged |
| Newport Trust Company, LLC 0.13% of their portfolio | 624.7k $46.7m | Reduced -37.2k |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 616.1k $46.0m | Added +455.1k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 612.8k $45.8m | Reduced -75.0k |
| FMR LLC 0.00% of their portfolio | 590.3k $44.1m | Added +135.4k |
| Squarepoint Ops LLC 0.17% of their portfolio | 564.3k $42.2m | Added +252.3k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 563.4k $42.1m | Reduced -254.2k |
| HSBC HOLDINGS PLC 0.03% of their portfolio | 487.8k $36.4m | Reduced -12.0k |
| Schonfeld Strategic Advisors LLC 0.25% of their portfolio | 428.3k $32.0m | Added +423.4k |
| Russell Investments Group, Ltd. 0.05% of their portfolio | 425.8k $31.6m | Reduced -26.7k |
| VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio | 410.4k $30.7m | Added +98.5k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.05% of their portfolio | 386.2k $28.9m | New |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 369.9k $27.6m | Reduced -835.9k |
| GABELLI FUNDS LLC 0.19% of their portfolio | 342.1k $25.6m | Reduced -3.0k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 304.0k $22.7m | Added +181.8k |
| CINCINNATI INSURANCE CO 0.36% of their portfolio | 296.8k $22.2m | Unchanged |
| Perpetual Ltd 0.21% of their portfolio | 290.7k $21.5m | Added +8.4k |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC 0.38% of their portfolio | 271.5k $20.3m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 256.8k $19.2m | Added +4.9k |
| GUGGENHEIM CAPITAL LLC 0.13% of their portfolio | 251.3k $18.8m | Added +50.1k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 248.5k $18.6m | Reduced -3.9k |
| SEI INVESTMENTS CO 0.03% of their portfolio | 228.6k $17.1m | Added +30.9k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.12% of their portfolio | 227.0k $17.0m | Added +14.1k |
| Swiss National Bank 0.01% of their portfolio | 223.9k $16.7m | Added +600 |
| BARCLAYS PLC 0.01% of their portfolio | 210.0k $15.7m | Added +8.8k |
| UBS Group AG 0.01% of their portfolio | 206.5k $15.4m | Reduced -216.3k |
| Ghisallo Capital Management LLC 1.70% of their portfolio | 200.0k $14.9m | New |
| FINANCIAL COUNSELORS INC 0.24% of their portfolio | 188.4k $14.1m | Added +15.8k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 186.9k $14.0m | Reduced -6.4k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 184.9k $13.8m | Reduced -16.1k |
| Balyasny Asset Management L.P. 0.03% of their portfolio | 181.3k $13.5m | Reduced -93.4k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 180.7k $13.5m | Reduced -30.1k |
| WEDGE CAPITAL MANAGEMENT L L P/NC 0.21% of their portfolio | 177.0k $13.2m | Added +23.8k |
| Verity & Verity, LLC 0.75% of their portfolio | 175.0k $13.1m | Reduced -10.1k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.60% of their portfolio | 171.6k $12.8m | New |
| SKBA CAPITAL MANAGEMENT LLC 1.99% of their portfolio | 170.0k $12.7m | Added +19.8k |
| CAMBIAR INVESTORS LLC 0.46% of their portfolio | 166.5k $12.4m | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 150.3k $11.2m | Added +2.9k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 145.8k $10.9m | Reduced -12.2k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 145.7k $10.9m | Added +5 |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 142.0k $10.6m | Reduced -1.9k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 138.6k $10.4m | Reduced -845.5k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 135.6k $10.1m | Reduced -255.9k |
| STIFEL FINANCIAL CORP 0.01% of their portfolio | 131.8k $9.8m | Added +18.9k |
| FEDERATED HERMES, INC. 0.02% of their portfolio | 131.0k $9.8m | Added +8.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 129.7k $9.7m | Added +1.9k |
| Aventail Capital Group, LP 0.73% of their portfolio | 127.6k $9.5m | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 123.4k $9.2m | Reduced -52.8k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 119.9k $9.5m | Reduced -7.5k |
| Alyeska Investment Group, L.P. 0.06% of their portfolio | 118.6k $8.9m | New |
| CREDIT SUISSE AG/ 0.01% of their portfolio | 117.7k $8.8m | Reduced -3.6k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 115.7k $8.6m | Reduced -82.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 115.6k $8.6m | Reduced -6.2k |
| CAPSTONE INVESTMENT ADVISORS, LLC 0.15% of their portfolio | 111.9k $8.4m | New |
| Alberta Investment Management Corp 0.08% of their portfolio | 106.4k $7.9m | Added +51.1k |
| NorthCoast Asset Management LLC 0.10% of their portfolio | 102.1k $7.6m | Added +1.3k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 101.1k $7.5m | Reduced -69.9k |
| Bornite Capital Management LP 1.25% of their portfolio | 100.0k $7.5m | New |
| Boston Partners 0.01% of their portfolio | 95.7k $7.2m | Reduced -6.0k |
| Magellan Asset Management Ltd 0.07% of their portfolio | 95.5k $7.1m | Added +4.0k |
| Connor, Clark & Lunn Investment Management Ltd. 0.03% of their portfolio | 93.8k $7.0m | Added +42.6k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio | 93.1k $7.0m | Added +26.4k |
| CITIGROUP INC 0.01% of their portfolio | 91.3k $6.8m | Reduced -28.6k |
| Yaupon Capital Management LP 0.59% of their portfolio | 90.7k $6.8m | New |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 86.8k $6.5m | Reduced -43.8k |
| Keystone Financial Planning, Inc. 2.04% of their portfolio | 84.1k $6.3m | Reduced -1.6k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.01% of their portfolio | 83.1k $6.2m | Added +28.6k |
| American Assets Investment Management, LLC 0.59% of their portfolio | 83.0k $6.2m | Unchanged |
| MACQUARIE GROUP LTD 0.01% of their portfolio | 82.1k $6.1m | Reduced -4.6k |