APS 2014 Annual Report Download - page 17

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The following table presents the fair value of the Plan’s investments as of December 31, 2013:










Mutual Funds:
Short Term Investment Trusts
$ 52,404,523
$ —
$ 52,404,523
US Equity Funds
130,019,915
—
130,019,915
International Equity Funds
131,753,807
—
131,753,807
Lifestyle Funds
96,647,843
—
96,647,843
Bond Funds
85,478,634
—
85,478,634
Synthetic GICs:
US Government Fixed Income
—
37,783,332
37,783,332
Corporate Fixed Income
—
38,254,505
38,254,505
Mortgage Backed Securities
—
48,735,728
48,735,728
Other
—
19,989,509
19,989,509
Pinnacle West Common Stock
89,534,766
—
89,534,766
Self-Directed Brokerage Account:
Common Stocks
29,741,761
—
29,741,761
Mutual Funds
8,324,946
—
8,324,946
Cash and Other
8,734,460
—
8,734,460
Total Classified in Hierarchy
$ 632,640,655
$ 144,763,074
777,403,729
Common and Collective Trusts -
US Equity Trusts (a)
281,988,132
Total
$ 1,059,391,861
(a) These investments are valued using net asset value as a practical expedient, and have not been classified in the fair value
hierarchy.

From January 1, 2013 through March 31, 2013 Plan investments included shares of the SSgA S&P 500 Flagship Securities
Lending Fund Class A and the SSgA Russell 1000 Growth Index Securities Lending Fund Class A that were managed by the former
trustee, State Street Bank and Trust Company. Effective April 1, 2013, the Plan changed its trustee and record keeper from State Street
Bank and Trust Company and J.P. Morgan Retirement Plan Services, respectively, to Fidelity Management Trust Company. In addition,
certain Plan investments consist of Pinnacle West common stock and short-term investments which are managed by the Trustee. These
transactions qualified as exempt party-in-interest transactions. As of December 31, 2014 and 2013, the Plan held 5,599,147 and
6,871,625 units, respectively, of common stock of Pinnacle West, the sponsoring employer with a cost basis of $58,929,143 and
$69,855,564, respectively. During the year ended December 31, 2014, the Plan recorded dividend income from Pinnacle West
common stock of $3,588,844. As of December 31, 2014 and 2013, the Plan held $13,925,048 and $52,238,329, respectively, of short-
term investments.
Transactions under the Plan's revenue share agreement with the trustee qualify as exempt party-in-interest transactions. Amounts
received under this revenue share agreement were immaterial for the year ended December 31, 2014. These revenue share amounts are
currently allocated back to participants.
15