PINNACLE WEST CAP CORP

Ticker: PNW CUSIP: 723484101 Class: COM

MERCER GLOBAL ADVISORS INC /ADV's Holding History (CIK: 0000853758)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 29,693 Value ($000) $2,634 Avg Close $89.23 Range $86.18 - $93.48

Q3 2025

Shares 27,286 Value ($000) $2,446 Avg Close $88.79 Range $84.44 - $93.47

Q2 2025

Shares 27,706 Value ($000) $2,479 Avg Close $89.32 Range $84.01 - $93.67

Q1 2025

Shares 51,710 Value ($000) $4,925 Avg Close $86.37 Range $78.26 - $93.02

Q4 2024

Shares 49,654 Value ($000) $4,209 Avg Close $84.97 Range $80.67 - $91.67

Q3 2024

Shares 57,795 Value ($000) $5,231 Avg Close $80.90 Range $70.66 - $87.05

Q2 2024

Shares 54,918 Value ($000) $4,195 Avg Close $70.74 Range $65.76 - $74.22

Q1 2024

Shares 50,193 Value ($000) $4 Avg Close $65.20 Range $60.62 - $69.54

Q4 2023

Shares 65,426 Value ($000) $5 Avg Close $67.20 Range $62.94 - $70.91

Q3 2023

Shares 67,460 Value ($000) $5 Avg Close $71.78 Range $66.39 - $77.25

Q2 2023

Shares 65,781 Value ($000) $5 Avg Close $71.39 Range $67.35 - $75.96

Q1 2023

Shares 63,721 Value ($000) $5 Avg Close $66.77 Range $63.66 - $71.10

Q4 2022

Shares 60,246 Value ($000) $5 Avg Close $62.50 Range $51.16 - $70.75

Q3 2022

Shares 53,670 Value ($000) $3,462 Avg Close $63.64 Range $55.76 - $68.03

Q2 2022

Shares 47,692 Value ($000) $3,487 Avg Close $63.84 Range $55.80 - $68.19

Q1 2022

Shares 40,873 Value ($000) $3,192 Avg Close $60.39 Range $56.02 - $66.65

Q4 2021

Shares 31,650 Value ($000) $2,234 Avg Close $55.84 Range $51.86 - $61.46

Q3 2021

Shares 50,693 Value ($000) $3,668 Avg Close $65.26 Range $58.98 - $71.06

Q2 2021

Shares 41,692 Value ($000) $3,417 Avg Close $68.95 Range $65.28 - $72.42

Q1 2021

Shares 36,111 Value ($000) $2,938 Avg Close $62.43 Range $56.60 - $66.33

Q4 2020

Shares 30,023 Value ($000) $2,400 Avg Close $65.83 Range $58.83 - $73.60

Q3 2020

Shares 9,731 Value ($000) $725 Avg Close $60.54 Range $54.95 - $66.17

Q2 2020

Shares 10,083 Value ($000) $739 Avg Close $59.12 Range $52.33 - $65.86

Q1 2020

Shares 8,587 Value ($000) $651 Avg Close $70.35 Range $46.70 - $82.05

Q4 2019

Shares 10,498 Value ($000) $944 Avg Close $69.39 Range $65.00 - $74.61

Q3 2019

Shares 10,805 Value ($000) $1,048 Avg Close $71.87 Range $68.70 - $75.42

Q2 2019

Shares 10,806 Value ($000) $1,017 Avg Close $72.15 Range $69.78 - $75.74

Q1 2019

Shares 6,580 Value ($000) $561 Avg Close $67.77 Range $60.95 - $73.24

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	29,693	$2,634	$89.23	$86.18 - $93.48
Q3 2025	27,286	$2,446	$88.79	$84.44 - $93.47
Q2 2025	27,706	$2,479	$89.32	$84.01 - $93.67
Q1 2025	51,710	$4,925	$86.37	$78.26 - $93.02
Q4 2024	49,654	$4,209	$84.97	$80.67 - $91.67
Q3 2024	57,795	$5,231	$80.90	$70.66 - $87.05
Q2 2024	54,918	$4,195	$70.74	$65.76 - $74.22
Q1 2024	50,193	$4	$65.20	$60.62 - $69.54
Q4 2023	65,426	$5	$67.20	$62.94 - $70.91
Q3 2023	67,460	$5	$71.78	$66.39 - $77.25
Q2 2023	65,781	$5	$71.39	$67.35 - $75.96
Q1 2023	63,721	$5	$66.77	$63.66 - $71.10
Q4 2022	60,246	$5	$62.50	$51.16 - $70.75
Q3 2022	53,670	$3,462	$63.64	$55.76 - $68.03
Q2 2022	47,692	$3,487	$63.84	$55.80 - $68.19
Q1 2022	40,873	$3,192	$60.39	$56.02 - $66.65
Q4 2021	31,650	$2,234	$55.84	$51.86 - $61.46
Q3 2021	50,693	$3,668	$65.26	$58.98 - $71.06
Q2 2021	41,692	$3,417	$68.95	$65.28 - $72.42
Q1 2021	36,111	$2,938	$62.43	$56.60 - $66.33
Q4 2020	30,023	$2,400	$65.83	$58.83 - $73.60
Q3 2020	9,731	$725	$60.54	$54.95 - $66.17
Q2 2020	10,083	$739	$59.12	$52.33 - $65.86
Q1 2020	8,587	$651	$70.35	$46.70 - $82.05
Q4 2019	10,498	$944	$69.39	$65.00 - $74.61
Q3 2019	10,805	$1,048	$71.87	$68.70 - $75.42
Q2 2019	10,806	$1,017	$72.15	$69.78 - $75.74
Q1 2019	6,580	$561	$67.77	$60.95 - $73.24