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 ($133.0m this quarter). Holder counts are more reliable. Shares outstanding: 121.2m as of 2026-04-28, 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 ≈ $100.72. Options: 9 managers hold calls ($27.7m notional), 8 hold puts ($7.6m).
Trends to Q1 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 |
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 2024 | 239 | 228 |
| 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 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $13.5m | $5.7m | 0.42 |
| Q3 2025 | $18.0m | $5.0m | 0.28 |
| Q4 2025 | $10.9m | $7.7m | 0.71 |
| Q1 2026 | $27.7m | $7.6m | 0.27 |
Biggest buyers
| Capital Research Global Investors | Added | +3.0m |
| Soroban Capital Partners LP | Added | +977.4k |
| GOLDMAN SACHS GROUP INC | Added | +898.7k |
| TWO SIGMA INVESTMENTS, LP | Added | +879.1k |
| ATLAS Infrastructure Partners (UK) Ltd. | Added | +613.2k |
| UBS Group AG | Added | +541.5k |
| Zimmer Partners, LP | Added | +363.6k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | Added | +316.5k |
| JPMORGAN CHASE & CO | Added | +279.8k |
| Thrivent Financial for Lutherans | Added | +259.8k |
Biggest sellers
| TWO SIGMA ADVISERS, LP | Sold out | -1.7m |
| REAVES W H & CO INC | Reduced | -641.7k |
| HSBC HOLDINGS PLC | Reduced | -640.0k |
| Point72 Asset Management, L.P. | Reduced | -596.0k |
| Qube Research & Technologies Ltd | Reduced | -576.0k |
| CITADEL ADVISORS LLC | Reduced | -434.7k |
| FIRST TRUST ADVISORS LP | Reduced | -388.6k |
| Yaupon Capital Management LP | Reduced | -206.6k |
| Trexquant Investment LP | Reduced | -199.4k |
| Capital World Investors | Sold out | -175.5k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $12.1m120.3k shares |
| CITADEL ADVISORS LLC | Added | $5.1m50.3k shares |
| JANE STREET GROUP, LLC | Added | $4.8m47.8k shares |
| D. E. Shaw & Co., Inc. | New | $4.2m41.2k shares |
| IMC-Chicago, LLC | New | $1.2m11.9k shares |
| GROUP ONE TRADING LLC | Added | $120.9k1.2k shares |
| Walleye Capital LLC | New | $100.8k1.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $80.6k800 shares |
| Walleye Trading LLC | Added | $70.5k700 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.8m17.7k shares |
| Walleye Capital LLC | New | $1.5m14.7k shares |
| JANE STREET GROUP, LLC | Added | $1.3m12.6k shares |
| Dockside LLC | New | $1.3m12.5k shares |
| CITADEL ADVISORS LLC | Reduced | $745.5k7.4k shares |
| IMC-Chicago, LLC | New | $654.9k6.5k shares |
| SIMPLEX TRADING, LLC | New | $352.6k3.5k shares |
| Walleye Trading LLC | Reduced | $80.6k800 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 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 |
|---|---|---|---|---|---|
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 1 | $43.3k | 2 | $655.0k | — |
| 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 | — | — |
None reported in Q1 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| Capital Research Global Investors 0.26% of their portfolio | 16.4m $1.7bn | Added +3.0m |
| BlackRock, Inc. 0.02% of their portfolio | 11.8m $1.2bn | Reduced -33.0k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 7.8m $786.0m | First filing |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 2.31% of their portfolio | 7.0m $705.3m | Added +316.5k |
| STATE STREET CORP 0.02% of their portfolio | 6.9m $696.3m | Reduced -29.6k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.03% of their portfolio | 6.0m $603.3m | First filing |
| ATLAS Infrastructure Partners (UK) Ltd. 18.00% of their portfolio | 5.1m $511.2m | Added +613.2k |
| Invesco Ltd. 0.04% of their portfolio | 4.3m $428.2m | Added +1.0k |
| Soroban Capital Partners LP 2.78% of their portfolio | 3.9m $388.4m | Added +977.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 3.1m $315.2m | Added +38.4k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.10% of their portfolio | 2.8m $286.6m | Reduced -56.0k |
| TWO SIGMA INVESTMENTS, LP 0.18% of their portfolio | 2.2m $220.5m | Added +879.1k |
| MORGAN STANLEY 0.01% of their portfolio | 2.1m $207.6m | Added +173.0k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 1.6m $158.0m | Added +898.7k |
| Pictet Asset Management Holding SA 0.15% of their portfolio | 1.4m $142.8m | Reduced -99.2k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 1.3m $135.6m | Added +27.2k |
| Squarepoint Ops LLC 0.27% of their portfolio | 1.2m $123.7m | Added +121.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 1.1m $115.6m | Added +29.6k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.1m $109.9m | Added +122.1k |
| REAVES W H & CO INC 1.80% of their portfolio | 1.1m $108.6m | Reduced -641.7k |
| FRANKLIN RESOURCES INC 0.03% of their portfolio | 1.1m $108.4m | Added +124 |
| Assenagon Asset Management S.A. 0.16% of their portfolio | 996.2k $100.4m | Added +75.5k |
| Nuveen, LLC 0.03% of their portfolio | 983.7k $99.1m | Added +160.2k |
| FIRST TRUST ADVISORS LP 0.07% of their portfolio | 982.6k $99.0m | Reduced -388.6k |
| UBS Group AG 0.02% of their portfolio | 965.9k $97.3m | Added +541.5k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 954.4k $96.2m | Added +33.4k |
| Empower Advisory Group, LLC 0.23% of their portfolio | 887.6k $89.4m | Added +25.1k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 847.9k $85.4m | Reduced -1.1k |
| Balyasny Asset Management L.P. 0.16% of their portfolio | 808.9k $81.5m | Added +42.2k |
| BARCLAYS PLC 0.03% of their portfolio | 744.3k $75.0m | Reduced -23.8k |
| CINCINNATI FINANCIAL CORP 1.48% of their portfolio | 729.5k $73.5m | Unchanged |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 723.9k $72.9m | Added +77.0k |
| VANGUARD FIDUCIARY TRUST CO 0.02% of their portfolio | 673.9k $67.9m | First filing |
| HSBC HOLDINGS PLC 0.04% of their portfolio | 650.9k $65.6m | Reduced -640.0k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.65% of their portfolio | 624.9k $63.0m | Unchanged |
| Perpetual Ltd 0.91% of their portfolio | 588.3k $59.3m | Added +89.3k |
| RENAISSANCE TECHNOLOGIES LLC 0.09% of their portfolio | 576.1k $58.0m | Added +162.7k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 558.6k $56.2m | Added +279.8k |
| Legal & General Group Plc 0.01% of their portfolio | 553.4k $55.8m | Reduced -49.4k |
| Zimmer Partners, LP 1.24% of their portfolio | 500.1k $50.4m | Added +363.6k |
| Gotham Asset Management, LLC 0.15% of their portfolio | 499.1k $50.3m | Reduced -5.0k |
| Epoch Investment Partners, Inc. 0.30% of their portfolio | 498.2k $50.2m | Reduced -7.0k |
| Newport Trust Company, LLC 0.11% of their portfolio | 459.2k $46.3m | Reduced -11.9k |
| MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio | 437.7k $44.1m | Added +202.1k |
| AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 423.2k $42.3m | Added +45.6k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 396.7k $40.0m | Reduced -35.3k |
| Quantinno Capital Management LP 0.07% of their portfolio | 394.9k $39.8m | Added +108.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 354.8k $35.7m | Added +132.8k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.05% of their portfolio | 346.8k $34.9m | Added +181.8k |
| Treasurer of the State of North Carolina 0.11% of their portfolio | 346.1k $34.9m | Added +29.8k |
| VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio | 344.5k $34.7m | Reduced -12.0k |
| GABELLI FUNDS LLC 0.23% of their portfolio | 333.7k $33.6m | Added +100 |
| Yaupon Capital Management LP 1.52% of their portfolio | 305.0k $30.7m | Reduced -206.6k |
| CINCINNATI INSURANCE CO 0.45% of their portfolio | 296.8k $29.9m | Unchanged |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 283.7k $28.6m | Added +48.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 281.2k $28.3m | Added +3.5k |
| DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC 1.34% of their portfolio | 277.0k $27.9m | Reduced -921 |
| California Public Employees Retirement System 0.02% of their portfolio | 275.3k $27.7m | Reduced -41.7k |
| Thrivent Financial for Lutherans 0.05% of their portfolio | 267.6k $27.0m | Added +259.8k |
| Vanguard Global Advisers, LLC 0.01% of their portfolio | 250.0k $25.2m | First filing |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 243.5k $24.5m | Added +1.5k |
| Swiss National Bank 0.01% of their portfolio | 236.9k $23.9m | Added +1.4k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.09% of their portfolio | 227.5k $22.9m | Reduced -173.2k |
| JENNISON ASSOCIATES LLC 0.02% of their portfolio | 226.1k $22.8m | Reduced -4.9k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 225.3k $22.7m | Added +13.7k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 222.2k $22.4m | Reduced -677 |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 212.6k $21.4m | Reduced -6.0k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.11% of their portfolio | 211.5k $21.3m | Reduced -12.4k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 200.4k $20.2m | Added +27.7k |
| Midwest Trust Co 0.25% of their portfolio | 196.8k $19.8m | Reduced -357 |
| AE Wealth Management LLC 0.10% of their portfolio | 189.3k $19.1m | Added +29.7k |
| Susquehanna Portfolio Strategies, LLC 0.28% of their portfolio | 188.2k $19.0m | Added +103.9k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 177.3k $17.9m | Added +30.6k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 174.8k $17.6m | Added +21.6k |
| HRT FINANCIAL LP 0.06% of their portfolio | 172.7k $17.4m | Reduced -173.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 168.2k $16.9m | Reduced -2.0k |
| STIFEL FINANCIAL CORP 0.02% of their portfolio | 166.8k $16.8m | Added +4.3k |
| Bridgewater Associates, LP 0.07% of their portfolio | 164.8k $16.6m | Reduced -9.2k |
| Creative Planning 0.01% of their portfolio | 164.1k $16.5m | Added +65.7k |
| FEDERATED HERMES, INC. 0.03% of their portfolio | 162.9k $16.4m | Added +533 |
| CITIGROUP INC 0.01% of their portfolio | 159.1k $16.0m | Added +42.6k |
| SKBA CAPITAL MANAGEMENT LLC 2.19% of their portfolio | 158.3k $16.0m | Reduced -500 |
| STATE OF WISCONSIN INVESTMENT BOARD 0.04% of their portfolio | 155.1k $15.6m | Reduced -16.0k |
| Amundi 0.00% of their portfolio | 154.7k $15.6m | Reduced -38.5k |
| Aventail Capital Group, LP 0.75% of their portfolio | 153.2k $15.4m | Added +29.6k |
| Engineers Gate Manager LP 0.19% of their portfolio | 152.6k $15.4m | Added +118.6k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 147.7k $14.9m | Added +8.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 143.3k $14.4m | Added +29.6k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.01% of their portfolio | 137.7k $13.9m | Reduced -930 |
| CAPTRUST FINANCIAL ADVISORS 0.02% of their portfolio | 135.6k $13.7m | Reduced -5.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 133.3k $13.4m | Reduced -1.9k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 131.4k $11.7m | Reduced -3.7k |
| LSV ASSET MANAGEMENT 0.03% of their portfolio | 124.5k $12.5m | Reduced -11.2k |
| Harvest Portfolios Group Inc. 0.21% of their portfolio | 123.4k $12.4m | Added +15.3k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 123.0k $12.4m | Added +4.1k |
| Ceredex Value Advisors LLC 0.37% of their portfolio | 117.9k $11.9m | Reduced -48.8k |
| CAPITAL FUND MANAGEMENT S.A. 0.11% of their portfolio | 117.1k $11.8m | New |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 117.1k $11.8m | Added +111.6k |
| Allspring Global Investments Holdings, LLC 0.02% of their portfolio | 115.9k $11.8m | Added +108.7k |
| Magellan Asset Management Ltd 0.15% of their portfolio | 115.3k $11.6m | Added +22.8k |