State Street Reports 5.1% Stake in PPL via Advisory Entities

Rhea-AI Filing Summary

State Street Corporation reported beneficial ownership of 37,376,575 shares of PPL Corporation common stock, representing 5.1% of the class. The filing shows no sole voting or dispositive power and discloses shared voting power of 25,076,183 and shared dispositive power of 37,373,667, indicating the holdings are managed across multiple accounts rather than controlled unilaterally.

The statement lists several State Street Global Advisors entities as investment-adviser subsidiaries that hold the securities on behalf of clients and affirms the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Positive

• Beneficial ownership disclosed: 37,376,575 shares, representing 5.1% of PPL common stock
• Clear allocation of authority: shared voting power of 25,076,183 and shared dispositive power of 37,373,667
• Identification of advisory subsidiaries: multiple State Street Global Advisors entities listed as investment-adviser holders

Negative

• No sole voting or dispositive power reported (both sole powers reported as 0), indicating no unilateral control

Insights

Financial Analyst

TL;DR: Passive investment disclosure: State Street holds 37.38M PPL shares (5.1%) with shared voting and dispositive authority across advisory entities.

State Street's Schedule 13G indicates a passive, advisory-based stake above the 5% threshold that requires disclosure. The positions are held with zero sole voting or sole dispositive power and substantial shared dispositive power (37,373,667), consistent with custody/advisory arrangements where multiple funds or client mandates hold the security. This is a routine institutional disclosure that increases transparency around ownership concentration but does not, on its face, signal an intent to influence corporate control.

Corporate Governance Expert

TL;DR: Reporting shows significant passive ownership via investment-adviser subsidiaries, with no indication of control intent.

The filing explicitly identifies numerous State Street Global Advisors entities as investment advisers that collectively account for the reported stake. The absence of sole voting or dispositive power and the certification that holdings are not for the purpose of influencing control align with Schedule 13G filing criteria for passive investors. For governance monitoring, the disclosure is material as it clarifies who exercises shared voting/dispositive authority and how much of the float is held by a single institutional group.

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)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No. 69351T106

1

Names of Reporting Persons

STATE STREET CORPORATION

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

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 25,076,183.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 37,373,667.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

37,376,575.00

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)

5.1 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PPL CORP
(b)	Address of issuer's principal executive offices: 2 NORTH 9TH STREET , ALLENTOWN, PENNSYLVANIA, 18101
Item 2.
(a)	Name of person filing: STATE STREET CORPORATION;
(b)	Address or principal business office or, if none, residence: ONE CONGRESS STREET, SUITE 1, BOSTON MA 02114, UNITED STATES
(c)	Citizenship: MA
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 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: 37376575.00
(b)	Percent of class: 5.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 25,076,183
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 37,373,667
Item 5.	Ownership of 5 Percent or Less of a Class.
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. NOT APPLICABLE
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. SSGA FUNDS MANAGEMENT, INC. (IA);STATE STREET GLOBAL ADVISORS (JAPAN) CO., LTD. (IA);STATE STREET GLOBAL ADVISORS ASIA LIMITED (IA);STATE STREET GLOBAL ADVISORS EUROPE LIMITED (IA);STATE STREET GLOBAL ADVISORS LIMITED (IA);STATE STREET GLOBAL ADVISORS SINGAPORE LIMITED (IA);STATE STREET GLOBAL ADVISORS TRUST COMPANY (IA);STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED (IA);STATE STREET GLOBAL ADVISORS, LTD. (IA);STATE STREET SAUDI ARABIA FINANCIAL SOLUTIONS COMPANY (IA);
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. NOT APPLICABLE
Item 9.	Notice of Dissolution of Group.
	Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. 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.

STATE STREET CORPORATION

Signature:	ELIZABETH SCHAEFER
Name/Title:	SENIOR VICE PRESIDENT, CHIEF ACCOUNTING OFFICER
Date:	08/08/2025

FAQ

How many PPL (PPL) shares does State Street report owning?

The report lists 37,376,575 shares as the aggregate beneficial ownership.

What percentage of PPL does State Street's holding represent?

State Street's aggregate stake represents 5.1% of PPL's outstanding common stock.

Does State Street have sole voting or dispositive power over these PPL shares?

No; the filing shows 0 shares with sole voting power and 0 shares with sole dispositive power.

Which State Street subsidiaries are identified as holding the PPL shares?

The filing names multiple subsidiaries including SSGA Funds Management, State Street Global Advisors (various regional entities) as investment-adviser holders.

Are the securities held to influence control of PPL?

The filing includes a certification that the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.