Vanguard Capital Management Establishes 7.35% Stake in Pinnacle West Capital Corp (PNW)

Vanguard Capital Management LLC filed a Schedule 13G on April 30, 2026, reporting a new 7.35% ownership stake in Pinnacle West Capital Corp (PNW). As of the event date on March 31, 2026, the firm beneficially owns 8,892,434 shares of common stock. The filing indicates that Vanguard holds sole dispositive power over all 8,892,434 shares and sole voting power over 1,090,994 shares. This position represents a significant increase from a previously reported 0% holding, establishing Vanguard as a major institutional shareholder. The securities were acquired in the ordinary course of business, with no intent to influence or change the control of the issuer. The filing also notes that the reported shares include those managed by various Vanguard affiliates, including Vanguard Asset Management Limited and Vanguard Global Advisers, LLC. No other single person's interest in the reported securities exceeds 5% of the total shares outstanding.