Pinnacle West Capital Corporation bonds PNW
Who owns Pinnacle West Capital Corporation's debt and what their own filings say it is worth. Bond prices and yields are fund-reported marks (SEC Form N-PORT) as of Jul 2026; they lag the market by about two months. PNW stock page.
Every bond funds hold
Each bond's latest fund-reported mark. Price per 100 of face value; yield to maturity from price, coupon and maturity; spread over the matched-maturity Treasury for US-dollar bonds.
| Bond | Coupon | Maturity | Ccy | Price | Yield | Spread | Funds | Held | As of |
|---|---|---|---|---|---|---|---|---|---|
| 723484AK7 convertible | 4.75% fixed | 2027-06-15 | USD | 113.79 | — | — | 6 | $35.6M | Jul 2026 |
| 723484AM3 | 4.9% fixed | 2028-05-15 | USD | 100.28 | 4.73% | 55 bp | 19 | $39.7M | Jul 2026 |
| 723484AP6 | 4.65% fixed | 2029-06-01 | USD | 99.56 | 4.82% | 56 bp | 16 | $49.5M | Jul 2026 |
| 723484AN1 | 5.15% fixed | 2030-05-15 | USD | 100.41 | 5.03% | 74 bp | 19 | $34.2M | Jul 2026 |
| 040555DD3 | 2.2% fixed | 2031-12-15 | USD | 86.37 | 5.13% | 78 bp | 15 | $41.0M | Jul 2026 |
| 040555DE1 | 6.35% fixed | 2032-12-15 | USD | 105.42 | 5.34% | 92 bp | 11 | $4.6M | Jul 2026 |
| 040555DG6 | 5.55% fixed | 2033-08-01 | USD | 100.96 | 5.38% | 92 bp | 13 | $26.7M | Jul 2026 |
| 040555DH4 | 5.7% fixed | 2034-08-15 | USD | 101.47 | 5.47% | 96 bp | 13 | $32.4M | Jul 2026 |
| 040555DK7 | 5.1% fixed | 2036-03-15 | USD | 96.39 | 5.59% | 101 bp | 10 | $10.8M | Jul 2026 |
| 040555CN2 | 4.5% fixed | 2042-04-01 | USD | 84.24 | 6.07% | 118 bp | 4 | $1.1M | Jul 2026 |
| 040555CX0 | 4.2% fixed | 2048-08-15 | USD | 76.39 | 6.17% | 107 bp | 4 | $2.7M | Jul 2026 |
| 040555CY8 | 4.25% fixed | 2049-03-01 | USD | 76.11 | 6.24% | 113 bp | 5 | $4.1M | Jul 2026 |
| 040555DB7 | 3.35% fixed | 2050-05-15 | USD | 64.41 | 6.24% | 113 bp | 6 | $2.4M | Jul 2026 |
| 040555DC5 | 2.65% fixed | 2050-09-15 | USD | 57.50 | 6.01% | 90 bp | 5 | $1.5M | Jul 2026 |
| 040555DJ0 | 5.9% fixed | 2055-08-15 | USD | 95.37 | 6.25% | 115 bp | 14 | $23.0M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Price history
Median fund-marked price across the bonds, per 100 of face value.
By month
Funds file on staggered quarter-ends, so each month-end is marked by the funds that reported for it; the amount held moves with which funds filed, not only with buying and selling.
| Month-end | Bonds | Held | Median price | USD yield | USD spread | Most funds on one bond |
|---|---|---|---|---|---|---|
| Jul 2026 | 15 | $309.1M | 96.39 | 5.53% | 94 bp | 19 |
| Jun 2026 | 15 | $514.1M | 100.02 | 5.26% | 83 bp | 56 |
| May 2026 | 15 | $332.3M | 100.01 | 5.27% | 81 bp | 30 |
| Apr 2026 | 15 | $305.7M | 98.45 | 5.30% | 99 bp | 19 |
| Mar 2026 | 15 | $681.8M | 98.55 | 5.32% | 105 bp | 57 |
| Feb 2026 | 14 | $269.4M | 101.02 | 5.15% | 86 bp | 28 |
| Jan 2026 | 14 | $286.5M | 100.91 | 5.32% | 89 bp | 19 |
| Dec 2025 | 14 | $611.7M | 100.96 | 5.29% | 94 bp | 59 |
| Nov 2025 | 14 | $270.2M | 100.97 | 5.21% | 88 bp | 31 |
| Oct 2025 | 14 | $274.9M | 100.87 | 5.23% | 93 bp | 18 |
| Sep 2025 | 14 | $574.6M | 100.96 | 5.23% | 91 bp | 59 |
| Aug 2025 | 13 | $260.3M | 99.67 | 5.47% | 92 bp | 31 |
| Jul 2025 | 13 | $245.8M | 100.26 | 5.25% | 92 bp | 19 |
Who holds the debt
Fund series in their latest quarterly N-PORT report, largest first, with the change in face value against each fund's own previous report. Names as reported in the filings. 83 added, 60 cut, 32 new holders and 29 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $86.2M | $88.7M | $22.7M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $77.7M | $74.1M | $11.8M |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $78.2M | $72.1M | $3.7M |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $43.2M | $43.8M | -$6.6M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $39.2M | $39.2M | $19.0M |
| VANGUARD WELLINGTON FUND | 2026-05-31 | $28.4M | $29.0M | $0 |
| DFA Investment Grade Portfolio DFA INVESTMENT DIMENSIONS GROUP INC | 2026-07-31 | $30.9M | $26.7M | $0 |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $29.2M | $26.2M | $2.5M |
| VANGUARD WELLESLEY INCOME FUND | 2026-06-30 | $27.7M | $24.6M | $0 |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $23.9M | $24.3M | $8.0M |
| Calamos Market Neutral Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $20.0M | $22.8M | $0 |
| VANGUARD ULTRA-SHORT-TERM BOND FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $19.3M | $19.4M | $0 |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $18.7M | $19.2M | $3.1M |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $18.9M | $18.9M | $4.3M |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $18.9M | $18.6M | $0 |
| Baird Short-Term Bond Fund Baird Funds Inc | 2026-06-30 | $16.2M | $16.2M | $0 |
| Strategic Advisers Fidelity Core Income Fund Fidelity Rutland Square Trust II | 2026-05-31 | $15.2M | $15.1M | $10.0M |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $14.8M | $14.5M | $0 |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $14.1M | $14.1M | $4.2M |
| THE HARTFORD BALANCED INCOME FUND HARTFORD MUTUAL FUNDS, INC | 2026-07-31 | $14.0M | $13.8M | $410K |
| Strategic Advisers Core Income Fund Fidelity Rutland Square Trust II | 2026-05-31 | $13.2M | $13.3M | -$200K |
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $11.1M | $12.6M | $2.1M |
| VANGUARD LONG-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $13.1M | $12.5M | -$1.2M |
| BlackRock Total Return Fund BlackRock Bond Fund, Inc. | 2026-06-30 | $11.2M | $11.4M | -$21.1M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $10.9M | $11.1M | $7.3M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): PIMCO Total Return Fund ($46.2M), PIMCO Short-Term Floating NAV Portfolio III ($32.5M), PIMCO Enhanced Short Maturity Active Exchange-Traded Fund ($28.4M), iShares Floating Rate Bond ETF ($17.1M), PIMCO Short-Term Fund ($16.7M), BlackRock Strategic Income Opportunities Portfolio ($12.9M), PIMCO Short-Term Floating NAV Portfolio II ($12.1M), American Century Diversified Corporate Bond ETF ($5.1M), PIMCO Short Asset Portfolio ($4.4M), Diversified Bond Fund ($2.8M).
ETFs holding these bonds
From each ETF's own latest N-PORT report: the issuer's bonds as a share of the ETF's net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Face value | Value | % of net assets |
|---|---|---|---|---|---|
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 5 | $86.2M | $88.7M | 0.13% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 11 | $78.2M | $72.1M | 0.02% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 13 | $29.2M | $26.2M | 0.02% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 4 | $18.7M | $19.2M | 0.04% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 5 | $18.9M | $18.9M | 0.10% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 5 | $14.1M | $14.1M | 0.12% |
| ICVT iShares Convertible Bond ETF | 2026-07-31 | 1 | $11.1M | $12.6M | 0.17% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 2 | $10.9M | $11.1M | 0.02% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 13 | $11.8M | $10.8M | 0.06% |
| CWB State Street(R) SPDR(R) Bloomberg Convertible Securities ETF | 2026-06-30 | 1 | $7.9M | $9.4M | 0.15% |
| VCLT VANGUARD LONG-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 4 | $9.3M | $8.6M | 0.09% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 7 | $7.7M | $7.9M | 0.07% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 14 | $8.8M | $7.7M | 0.02% |
| NEAR iShares Short Duration Bond Active ETF | 2026-07-31 | 1 | $7.5M | $7.4M | 0.15% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 3 | $6.2M | $6.2M | 0.01% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 9.70: safer than 80% of companies (84th percentile in Utilities). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $12.30B |
| Debt barrier (short-term + ½ long-term debt) | $6.48B |
| Equity volatility (1 year) | 16.8% |
| Asset value / asset volatility (solved) | $18.51B / 11.2% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 94 bp spread prices in about 1.6% a year of default odds (spread ÷ (1 − 40% recovery)). Fund-reported marks as of Jul 2026; the spread also pays for liquidity and risk premium, so this overstates actual defaults.
Accounts: Altman Z
Altman Z'' = 0.65 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in PNW's stock and options. Options are reported at the value of the underlying shares, not the premium paid; 13F lists long positions only, lags 45 days after quarter-end, and does not show whether puts hedge a stock position.
| Quarter-end | Stock holders | Stock value | Put managers | Puts (underlying value) | Call managers | Calls (underlying value) | Convertible holders |
|---|---|---|---|---|---|---|---|
| 2026-09-30 filings still arriving | 82 | $113.1M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 720 | $13.98B | 6 | $8.3M | 8 | $33.2M | 31 |
| 2026-03-31 | 693 | $10.58B | 8 | $7.6M | 9 | $27.7M | 32 |
| 2025-12-31 | 649 | $10.33B | 6 | $7.7M | 6 | $10.9M | 31 |
| 2025-09-30 | 615 | $10.35B | 5 | $4.7M | 7 | $17.0M | 34 |
| 2025-06-30 | 619 | $10.42B | 6 | $5.6M | 8 | $13.3M | 25 |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.