Capital Research discloses 11.3% Pinnacle West (NYSE: PNW) ownership stake

Rhea-AI Filing Summary

Capital Research Global Investors filed an amended Schedule 13G reporting a passive ownership stake in Pinnacle West Capital Corp. common stock. The firm is deemed to beneficially own 13,466,845 shares, representing 11.3% of the outstanding common stock.

The filing notes that this percentage is based on 119,690,399 Pinnacle West shares believed to be outstanding. Capital Research Global Investors reports sole voting and sole dispositive power over all 13,466,845 shares and no shared voting or dispositive power.

The securities are stated to have been acquired and held in the ordinary course of business and not for the purpose of changing or influencing control of Pinnacle West, consistent with a passive institutional investment under Schedule 13G.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Pinnacle West Capital Corp.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

723484101

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 723484101

1

Names of Reporting Persons

Capital Research Global Investors

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 13,466,845.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,466,845.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,466,845.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Pinnacle West Capital Corp.
(b)	Address of issuer's principal executive offices: 400 NORTH FIFTH STREET, PHOENIX, AZ 85004
Item 2.
(a)	Name of person filing: Capital Research Global Investors
(b)	Address or principal business office or, if none, residence: 333 South Hope Street, 55th Fl, Los Angeles, CA 90071
(c)	Citizenship: N/A
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 723484101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 13,466,845 ** **Capital Research Global Investors ("CRGI") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CRGI's divisions of each of the investment management entities collectively provide investment management services under the name "Capital Research Global Investors." CRGI is deemed to be the beneficial owner of 13,466,845 shares or 11.3% of the 119,690,399 shares believed to be outstanding.
(b)	Percent of class: 11.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 13,466,845
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 13,466,845
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Capital Research Global Investors

Signature:	Jae Won Chung
Name/Title:	Vice President and Senior Counsel II, Capital Research and Management Company
Date:	02/05/2026

FAQ

What ownership stake does Capital Research Global Investors report in Pinnacle West (PNW)?

Capital Research Global Investors reports beneficial ownership of 13,466,845 Pinnacle West common shares, equal to 11.3% of the company’s outstanding stock. This percentage is based on 119,690,399 shares believed to be outstanding, according to the filing’s ownership disclosure.

Is Capital Research Global Investors a passive investor in Pinnacle West (PNW)?

Yes. The filing certifies the shares were acquired and are held in the ordinary course of business and not to change or influence control of Pinnacle West. This language is consistent with a passive institutional investor reporting on Schedule 13G.

How much voting power does Capital Research Global Investors have in Pinnacle West (PNW)?

Capital Research Global Investors reports sole voting power over 13,466,845 Pinnacle West shares and no shared voting power. It likewise reports sole dispositive power over the same number of shares, indicating exclusive authority to vote and dispose of those shares.

What percentage of Pinnacle West (PNW) shares outstanding is used in this Schedule 13G/A?

The filing states that the 11.3% ownership figure is calculated against 119,690,399 Pinnacle West shares believed to be outstanding. This outstanding share count is used to compute the reported ownership percentage for Capital Research Global Investors.

Who signed the Schedule 13G/A for Capital Research regarding Pinnacle West (PNW)?

The Schedule 13G/A was signed by Jae Won Chung, identified as Vice President and Senior Counsel II of Capital Research and Management Company. The signature certifies the accuracy and completeness of the ownership information contained in the statement.

What is the event date for Capital Research Global Investors’ Pinnacle West (PNW) ownership report?

The Schedule 13G/A lists December 31, 2025 as the date of the event requiring the filing. This date anchors when the reported ownership position and percentage in Pinnacle West’s common stock are measured for disclosure purposes.