Vanguard reports 5.02% PPL Corp (PPL) stake in latest ownership filing

Rhea-AI Filing Summary

Vanguard Portfolio Management LLC filed a passive ownership report showing a significant position in PPL Corp common stock. As of June 30, 2026, Vanguard Portfolio Management beneficially owned 37,769,687 shares of PPL, representing 5.02% of the outstanding common stock.

The filing states Vanguard Portfolio Management has sole voting power over 85,261 shares and sole dispositive power over 37,769,687 shares, with no shared voting or dispositive power. The position aggregates securities held by certain Vanguard affiliates and Vanguard funds and managed accounts over which they exercise voting and/or dispositive power. Vanguard entities and their clients have the right to receive dividends and sale proceeds on these shares, but no single other person’s interest exceeds 5% of the class.

Key Figures

Beneficially owned shares: 37,769,687 shares Percent of class: 5.02% Sole voting power: 85,261 shares +3 more

6 metrics

Beneficially owned shares 37,769,687 shares PPL Corp common stock beneficially owned as of June 30, 2026

Percent of class 5.02% Portion of PPL Corp common stock class beneficially owned

Sole voting power 85,261 shares Shares of PPL Corp over which Vanguard Portfolio Management has sole voting power

Shared voting power 0 shares Shares of PPL Corp over which Vanguard Portfolio Management has shared voting power

Sole dispositive power 37,769,687 shares Shares of PPL Corp over which Vanguard Portfolio Management has sole power to dispose

Shared dispositive power 0 shares Shares of PPL Corp over which Vanguard Portfolio Management has shared dispositive power

Key Terms

beneficially owned, sole dispositive power, sole power to vote, Investment Company Act of 1940

4 terms

beneficially owned financial

"this reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power financial

"Sole Dispositive Power 37,769,687.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

sole power to vote financial

"Sole power to vote or to direct the vote: 85261"

Investment Company Act of 1940 regulatory

"investment companies registered under the Investment Company Act of 1940 and other managed accounts"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/31/2026 - 11:39 AM Accepted by SEC EDGAR 07/31/2026 - 11:38 AM Learn about SEC filing dates

FAQ

What percentage of PPL (PPL) does Vanguard Portfolio Management report owning?

Vanguard Portfolio Management reports beneficial ownership of 5.02% of PPL Corp common stock. This represents 37,769,687 shares aggregated across certain Vanguard affiliates, funds, and managed accounts over which they have voting and/or dispositive power.

How many PPL (PPL) shares does Vanguard Portfolio Management beneficially own?

Vanguard Portfolio Management beneficially owns 37,769,687 PPL Corp common shares. This total includes holdings of Vanguard funds and managed accounts where Vanguard affiliates exercise dispositive and, in some cases, voting power over the securities.

What voting power does Vanguard Portfolio Management have over its PPL (PPL) shares?

Vanguard Portfolio Management has sole voting power over 85,261 PPL shares and no shared voting power. The rest of the reported beneficially owned shares are subject to dispositive power, not sole voting authority, under the disclosed structure.

What dispositive power does Vanguard Portfolio Management report for PPL (PPL) shares?

Vanguard Portfolio Management reports sole dispositive power over 37,769,687 PPL shares and no shared dispositive power. This covers securities held by Vanguard funds and managed accounts where Vanguard affiliates direct the disposition of the shares.

Do other investors share in the economic interest of Vanguard’s PPL (PPL) holdings?

Yes. Vanguard entities and managed accounts have the right to receive dividends or sale proceeds on the reported PPL shares. However, no single other person’s interest exceeds 5% of the class, according to the disclosure.

Which Vanguard entities are included in the PPL (PPL) ownership reported by Vanguard Portfolio Management?

The ownership reflects securities beneficially owned by Vanguard Portfolio Management LLC and affiliates including Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC, plus certain Vanguard funds and managed accounts they oversee.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

PPL Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

69351T106

(CUSIP Number)

06/30/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 69351T106

1

Names of Reporting Persons

Vanguard Portfolio Management

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

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 85,261.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 37,769,687.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

37,769,687.00

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)

5.02 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management LLC and the following affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates: Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power. This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Portfolio Management LLC, or business divisions of such subsidiaries whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PPL Corp
(b)	Address of issuer's principal executive offices: 645 Hamilton Street, Allentown, PA, 18101
Item 2.
(a)	Name of person filing: Vanguard Portfolio Management
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 69351T106
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: 37769687
(b)	Percent of class: 5.02 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 85261
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 37769687
	(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.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Vanguard Portfolio Management, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
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.

Vanguard Portfolio Management

Signature:	My Trieu-Gatt
Name/Title:	Authorized Signatory, Head of Global Fund Administration
Date:	07/31/2026