Vanguard reports 54.98M shares of PPL (NYSE: PPL) in Schedule 13G

Rhea-AI Filing Summary

PPL Corp reports a Schedule 13G showing 7.31% beneficial ownership by Vanguard Capital Management. Vanguard Capital Management reports 54,981,572 shares beneficially owned, with 7,782,934 shares of sole voting power and sole dispositive power over the full 54,981,572 shares. The filing is signed by Ashley Grim on 04/30/2026.

Insights

Institutional Ownership Specialist

Vanguard holds a substantial passive stake in PPL (7.31%).

The filing documents 54,981,572 shares beneficially owned by Vanguard Capital Management, representing 7.31% of the class. The position shows significant dispositive authority concentrated in the reporting entity.

This ownership is reported on behalf of multiple Vanguard-managed vehicles; subsequent filings could show changes in voting or dispositive allocations.

Compliance & Disclosure Analyst

Schedule 13G format and footnote language indicate manager reporting for client accounts.

The statement includes standard SEC Release citation and explains holdings include Vanguard funds and managed accounts where Vanguard exercises dispositive power. It clarifies other subsidiaries' holdings are excluded where disaggregated.

Review subsequent amendments for any conversion to Schedule 13D or changes in voting intent; timing not specified here.

Key Figures

Beneficial ownership: 54,981,572 shares Percent of class: 7.31% Sole voting power: 7,782,934 shares +3 more

6 metrics

Beneficial ownership 54,981,572 shares Schedule 13G report

Percent of class 7.31% Percent of class reported

Sole voting power 7,782,934 shares Sole power to vote reported

Sole dispositive power 54,981,572 shares Sole power to dispose reported

CUSIP 69351T106 PPL Corp Common Stock

Filing signature date 04/30/2026 Signature by Ashley Grim

Key Terms

Schedule 13G, beneficially owned, dispositive power, SEC Release No. 34-39538

4 terms

Schedule 13G regulatory

"Schedule 13G showing beneficial ownership and reporting obligations"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficially owned financial

"Reflects the securities beneficially owned, or deemed to be beneficially owned"

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.

dispositive power regulatory

"Sole power to dispose or to direct the disposition of"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

SEC Release No. 34-39538 regulatory

"In accordance with SEC Release No. 34-39538 (January 12, 1998)"

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)

03/31/2026

(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 Capital 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 7,782,934.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 54,981,572.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

54,981,572.00

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)

7.31 %

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 Capital Management LLC and the following affiliates of Vanguard Capital Management LLC or business divisions of such affiliates: Vanguard Asset Management Limited, Vanguard Fiduciary Trust Company, Vanguard Global Advisers, LLC and Vanguard Investments Australia Ltd. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Capital 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 Capital 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 Capital 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: 54981572
(b)	Percent of class: 7.31 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 7782934
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 54981572
	(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 Capital 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 Capital Management

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	04/30/2026

FAQ

How many PPL (PPL) shares does Vanguard Capital Management report owning?

Vanguard reports beneficial ownership of 54,981,572 shares. This equals 7.31% of the class and includes holdings across Vanguard funds and managed accounts where Vanguard exercises dispositive power.

What voting power does Vanguard report for its PPL stake?

Vanguard reports 7,782,934 shares as sole voting power. The filing states Vanguard has sole dispositive power over 54,981,572 shares, with no shared voting or dispositive power reported.

Does the filing indicate Vanguard controls dividends or sale proceeds for these PPL shares?

Yes. Vanguard states it has the right to receive or direct receipt of dividends or sale proceeds for the reported securities held in Vanguard funds and managed accounts. No single other person is noted with >5% interest.

When was the Schedule 13G signed for Vanguard's PPL holdings?

The filing is signed by Ashley Grim, Head of Global Fund Administration, with signature date 04/30/2026. The reported CUSIP for PPL common stock is 69351T106.

Is this Schedule 13G a passive filing or does it suggest activist intent?

The filing's language and Schedule 13G format indicate reporting as an investment manager for multiple client accounts, consistent with passive/manager reporting rather than an activist Schedule 13D disclosure.