Victory Capital Increases Stake in Pinnacle West Capital

Institutional investor adds over 10,000 shares of utility company in Q3

Mar. 8, 2026 at 1:06pm

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Victory Capital Management Inc. increased its position in Pinnacle West Capital Corporation (NYSE:PNW) by 2.5% in the third quarter, according to a recent SEC filing. The firm now owns 448,656 shares of the utilities provider's stock, valued at $40.2 million.

Why it matters

Pinnacle West Capital is a major utility company serving central and southern Arizona, including the Phoenix metropolitan area. Victory Capital's increased stake suggests the institutional investor sees value in the company's operations and growth potential.

The details

Victory Capital purchased an additional 10,875 shares of Pinnacle West Capital during the third quarter, bringing its total position to 448,656 shares. This represents a 2.5% increase in the firm's stake in the utility company.

  • Victory Capital filed its Q3 2026 Form 13F with the SEC on March 8, 2026, disclosing the increased Pinnacle West Capital position.

The players

Victory Capital Management Inc.

An American investment management firm that oversees over $150 billion in client assets.

Pinnacle West Capital Corporation

A utility holding company that generates, transmits and distributes electricity to over 1 million customers in central and southern Arizona.

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The takeaway

Victory Capital's increased stake in Pinnacle West Capital suggests the institutional investor sees long-term value in the Arizona utility company, which serves a rapidly growing Sun Belt market.