Pinnacle West Capital

PNW • NYSE

Pinnacle West Capital is a regulated electric company in the utilities sector on NYSE, led by Theodore N. Geisler, with a market cap of $10.4B. As of Q3 2025, 97% of shares are held by 608 institutional investors, with Capital Research Global Investors as the largest holder at 13.27%.

Chairman of the Board, President, and Chief Executive OfficerTheodore N. Geisler

Market Cap$10.4B

Regulated Electric

Utilities

Employees6.1K

Websitepinnaclewest.com

Country

United States of America

Overview

Overview of institutional ownership in PNW as of Q3 2025 with a market cap of $10.7B

All Institutions

Institutions: 608
Value Held: $10.4B
Shares Held: 115.9M
Avg Position: $17.1M
Median Position: $583.4K

Hedge Funds

Hedge Funds: 64
Value Held: $786.5M
Shares Held: 8.8M
Avg Position: $12.3M
Median Position: $2.6M

Ownership Breakdown

Institutional (non-HF)

89.67%

$9.6B

Hedge Funds

7.34%

$786.5M

Retail & Other

2.98%

$319.3M

Based on market cap of $10.7B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in PNW as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Capital Research Global Investors RIA/Wealth	Maria Alejandra Herrera CIO	$1.4B 0.27% of portfolio	13.27% 15.9M shares	Q2 2023 Held for 2y 5m	$532.36B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$1.3B 0.02% of portfolio	12.29% 14.7M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$974.3M 0.02% of portfolio	9.10% 10.9M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
BARROW HANLEY MEWHINNEY & STRAUSS LLC Long Only Manager	Cory Lawrence Martin CEO	$647.7M 2.06% of portfolio	6.05% 7.2M shares	Q4 2021 Held for 3y 11m	$31.4B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$599.7M 0.02% of portfolio	5.60% 6.7M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$374.4M 0.06% of portfolio	3.50% 4.2M shares	≤ Q2 2013 Held for 12y 5m+	$633.08B
ATLAS Infrastructure Partners Ltd. Real Assets	Clinton Leigh Joyner COO	$277.2M 13.62% of portfolio	2.59% 3.1M shares	Q1 2024 Held for 1y 8m	$2.0B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$274.6M 0.02% of portfolio	2.57% 3.1M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	Edward Murray Maloney CEO	$267.5M 0.08% of portfolio	2.50% 3.0M shares	≤ Q2 2013 Held for 12y 5m+	$322.72B
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	Kevin G. Burke CEO	$235.7M 0.08% of portfolio	2.20% 2.6M shares	≤ Q2 2013 Held for 12y 5m+	$298.06B

Net Capital Flow

Institutional buying and selling activity for PNW in Q3 2025

Traded: +$36.9M
Buyers: 284
Sellers: 264
Total Bought: +$632.4M
Total Sold: −$595.6M
Avg Position: $15.6M

Biggest Buyers

Institution	Net Bought	Current Position
Capital Research Global Investors RIA/Wealth	+$68.0M +758.2K shares	$1.4B 15.9M shares
BARROW HANLEY MEWHINNEY & STRAUSS LLC Long Only Manager	+$51.0M +568.6K shares	$647.7M 7.2M shares
R REAVES W H & CO INC Institution	+$28.3M +316.2K shares	$161.8M 1.8M shares
B BlackRock, Inc. Institution	+$25.5M +283.9K shares	$974.3M 10.9M shares
Q Qube Research & Technologies Ltd Institution	+$21.9M +243.8K shares	$26.6M 297.0K shares
ATLAS Infrastructure Partners Ltd. Real Assets	+$20.5M +228.9K shares	$277.2M 3.1M shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	+$19.7M +219.8K shares	$24.5M 273.7K shares
BANK OF AMERICA CORP /DE/ Institution	+$18.4M +205.5K shares	$94.1M 1.0M shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	+$18.2M +203.1K shares	$267.5M 3.0M shares
Ceredex Value Advisors LLC Long Only Manager	+$17.7M +197.7K shares	$17.7M 197.7K shares

Biggest Sellers

Institution	Net Sold	Current Position
Merewether Investment Management, LP Hedge Fund•Sector	−$65.7M −734.2K shares	Sold Off 0 shares
A Assenagon Asset Management S.A. Institution	−$49.1M −547.2K shares	$35.4M 394.5K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$46.1M −514.4K shares	$31.9M 355.3K shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	−$36.0M −401.8K shares	$235.7M 2.6M shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	−$35.0M −390.7K shares	$9.7M 108.7K shares
Z Zimmer Partners, LP Hedge Fund•Long/Short	−$31.5M −351.4K shares	$13.3M 148.6K shares
HITE Hedge Asset Management LLC Hedge Fund•Long/Short	−$31.5M −351.6K shares	Sold Off 0 shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	−$21.7M −242.1K shares	$93.8M 1.0M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$16.1M −179.5K shares	$97.4M 1.1M shares
FEDERATED INVESTORS INC /PA/ Long Only Manager	−$13.9M −154.6K shares	$14.6M 162.9K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited PNW in Q3 2025

New Positions: 27
New Value: $47.9M
Exited Positions: 59
Exited Value: $121.2M

New Positions

Institution	Position Value
Ceredex Value Advisors LLC Long Only Manager	$17.7M 197.7K shares
DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC RIA/Wealth	$16.3M 181.7K shares
BTG Pactual Asset Management US LLC Hedge Fund•Multi-Strategy	$6.2M 69.3K shares
Resolution Capital Ltd Real Assets	$1.4M 15.9K shares
Portfolio Design Labs, LLC RIA/Wealth	$1.1M 12.7K shares
Aristotle Capital Boston, LLC Long Only Manager	$1.0M 11.2K shares
A Ascent Group, LLC Institution	$985.6K 11.0K shares
TOUNJIAN ADVISORY PARTNERS, LLC Family Office	$873.8K 9.7K shares
V Vise Technologies, Inc. Institution	$468.6K 5.2K shares
Aaron Wealth Advisors LLC RIA/Wealth	$347.4K 3.9K shares

Exited Positions

Institution	Previous Position
Merewether Investment Management, LP Hedge Fund•Sector	$65.7M 734.2K shares
HITE Hedge Asset Management LLC Hedge Fund•Long/Short	$31.5M 351.6K shares
Graham Capital Management, L.P. Hedge Fund•Multi-Strategy	$2.2M 24.2K shares
I Ilex Capital Partners LLP Institution	$2.1M 23.7K shares
X XTX Topco Ltd Institution	$2.1M 23.6K shares
Centiva Capital, LP Hedge Fund•Multi-Strategy	$2.0M 22.6K shares
Ellsworth Advisors, LLC RIA/Wealth	$1.8M 20.0K shares
LINDEN ADVISORS LP Hedge Fund•Multi-Strategy	$1.2M 13.5K shares
R READYSTATE ASSET MANAGEMENT LP Hedge Fund•Multi-Strategy	$1.0M 11.2K shares
T Teza Capital Management LLC Hedge Fund•Quant	$932.5K 10.4K shares

Options Activity

Institutions with the largest Call and Put options positions in PNW as of Q3 2025

Call Positions: 7
Call Value: $16.7M
Put Positions: 5
Put Value: $4.4M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$11.0M 1.2K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.8M 426.0 contracts
J JANE STREET GROUP, LLC Institution	$995.2K 111.0 contracts
W WOLVERINE TRADING, LLC Institution	$701.2K 80.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$233.1K 26.0 contracts
Walleye Trading LLC RIA/Wealth	$17.9K 2.0 contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	- - contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.3M 254.0 contracts
J JANE STREET GROUP, LLC Institution	$1.1M 118.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$789.0K 88.0 contracts
W WOLVERINE TRADING, LLC Institution	$324.3K 37.0 contracts
Walleye Trading LLC RIA/Wealth	- - contracts

Most Committed Institutions

Institutions with PNW as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
ATLAS Infrastructure Partners Ltd. Real Assets	Clinton Leigh Joyner COO	13.62% $277.2M	2.59% 3.1M shares	Q1 2024 Held for 1y 8m	$2.0B
R REAVES W H & CO INC Institution	-	2.88% $161.8M	1.51% 1.8M shares	Q2 2023 Held for 2y 5m	$5.6B
Y Yaupon Capital Management LP Hedge Fund•Multi-Strategy	Steven James Pattyn CIO	2.24% $43.4M	0.40% 483.6K shares	Q1 2024 Held for 1y 8m	$1.9B
BARROW HANLEY MEWHINNEY & STRAUSS LLC Long Only Manager	Cory Lawrence Martin CEO	2.06% $647.7M	6.05% 7.2M shares	Q4 2021 Held for 3y 11m	$31.4B
SKBA CAPITAL MANAGEMENT LLC Long Only Manager	Andrew Walter Bischel CEO	2.00% $14.5M	0.14% 161.3K shares	Q2 2023 Held for 2y 5m	$723.3M
C CSU Producer Resources, Inc. Institution	-	1.48% $502.3K	0.00% 5.6K shares	Q3 2020 Held for 5y 2m	$33.9M
B BUTENSKY & COHEN FINANCIAL SECURITY, INC Institution	-	1.47% $5.3M	0.05% 58.9K shares	Q4 2020 Held for 4y 11m	$358.5M
G Greenland Capital Management LP Hedge Fund•Multi-Strategy	Michael J Englander CEO	1.31% $8.4M	0.08% 93.5K shares	Q3 2024 Held for 1y 2m	$641.9M
CINCINNATI FINANCIAL CORP Institution	Steven R. Johnston CEO	1.30% $65.4M	0.61% 729.5K shares	Q3 2020 Held for 5y 2m	$5.0B
A Aventail Capital Group, LP Hedge Fund•Long/Short	John (Nmn) Lee COO	0.92% $19.3M	0.18% 215.7K shares	Q4 2024 Held for 11 months	$2.1B

Hedge Fund Spotlight

Discover hedge funds investing in PNW

Bridgewater Associates, LP

Hedge Fund • Global Macro

Portfolio ManagerNir Bar Dea

Portfolio Value: $25.5B
Positions: 1,015
Last Reported: Q3 2025

Sector Allocation

Position in Pinnacle West Capital

Market Value: $9.5M
Shares Held: 106.3K
Portfolio Weight: 0.04%
Owned Since: 2023-Q4

Top Holding	Sector	Market Value	Weight
1 iShares Core S&P 500 ETF IVV	ETF ETF	$2.7B	10.62%
2 SPDR S&P 500 ETF Trust SPY	ETF ETF	$1.7B	6.69%
3 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$645.2M	2.53%