# EDGAR Filing Document

**Accession Number:** 0002041021
**File Stem:** 0002041021-25-000005
**Filing Date:** 2025-7
**Character Count:** 12911
**Document Hash:** 316db744c178b189f8875f4871141f9d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002041021-25-000005.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0002041021-25-000005

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**EFFECTIVENESS DATE**: 20250725

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Board of the Pension Protection Fund
- **CENTRAL INDEX KEY:** 0002041021

**ORGANIZATION NAME:**
- **EIN:** 981081886
- **STATE OF INCORPORATION:** X0

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-24548
- **FILM NUMBER:** 251149471

**BUSINESS ADDRESS:**
- **STREET 1:** RENAISSANCE
- **STREET 2:** 12 DINGWALL ROAD
- **CITY:** CROYDON
- **STATE:** X0
- **ZIP:** CR0 2NA
- **BUSINESS PHONE:** 08456002541

**MAIL ADDRESS:**
- **STREET 1:** RENAISSANCE
- **STREET 2:** 12 DINGWALL ROAD
- **CITY:** CROYDON
- **STATE:** X0
- **ZIP:** CR0 2NA

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Board of the Pension Protection Fund<br>**Address:** RENAISSANCE<br>12 DINGWALL ROAD<br>CROYDON, X0 CR0 2NA

**Form 13F File Number:** 028-24548

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Oliver Beck<br>**Title:** Director of Compliance<br>**Phone:** 02086334917

**Signature, Place, and Date of Signing:**

Oliver Beck  London, X0  07-25-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 99

**Form 13F Information Table Value Total:** $92489802

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M CO | COM | 88579Y101 |  | 304480 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 371240 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| AFLAC INC | COM | 001055102 |  | 390202 | 3700 | SH |  | SOLE |  | 3700 | 0 | 0 |
| ALLEGION PLC | ORD SHS | G0176J109 |  | 417948 | 2900 | SH |  | SOLE |  | 2900 | 0 | 0 |
| ALLSTATE CORP | COM | 020002101 |  | 764978 | 3800 | SH |  | SOLE |  | 3800 | 0 | 0 |
| AMENTUM HOLDINGS INC | COM | 023939101 |  | 17235 | 730 | SH |  | SOLE |  | 730 | 0 | 0 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 587103 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| ANNALY CAPITAL MANAGEMENT IN | COM NEW | 035710839 |  | 52696 | 2800 | SH |  | SOLE |  | 2800 | 0 | 0 |
| ANSYS INC | COM | 03662Q105 |  | 210732 | 600 | SH |  | SOLE |  | 600 | 0 | 0 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 1960448 | 5600 | SH |  | SOLE |  | 5600 | 0 | 0 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 10231 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 801638 | 27700 | SH |  | SOLE |  | 27700 | 0 | 0 |
| ATMOS ENERGY CORP | COM | 049560105 |  | 1078770 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 678480 | 2200 | SH |  | SOLE |  | 2200 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 288652 | 6100 | SH |  | SOLE |  | 6100 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 1576203 | 17300 | SH |  | SOLE |  | 17300 | 0 | 0 |
| BAXTER INTL INC | COM | 071813109 |  | 96896 | 3200 | SH |  | SOLE |  | 3200 | 0 | 0 |
| BERKLEY W R CORP | COM | 084423102 |  | 448167 | 6100 | SH |  | SOLE |  | 6100 | 0 | 0 |
| BIOMARIN PHARMACEUTICAL INC | COM | 09061G101 |  | 445257 | 8100 | SH |  | SOLE |  | 8100 | 0 | 0 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 1385271 | 5700 | SH |  | SOLE |  | 5700 | 0 | 0 |
| BROWN  BROWN INC | COM | 115236101 |  | 920221 | 8300 | SH |  | SOLE |  | 8300 | 0 | 0 |
| C H ROBINSON WORLDWIDE INC | COM NEW | 12541W209 |  | 1352895 | 14100 | SH |  | SOLE |  | 14100 | 0 | 0 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 1696800 | 10100 | SH |  | SOLE |  | 10100 | 0 | 0 |
| CENTERPOINT ENERGY INC | COM | 15189T107 |  | 936870 | 25500 | SH |  | SOLE |  | 25500 | 0 | 0 |
| CHARTER COMMUNICATIONS INC N | CL A | 16119P108 |  | 981144 | 2400 | SH |  | SOLE |  | 2400 | 0 | 0 |
| CINCINNATI FINL CORP | COM | 172062101 |  | 1444524 | 9700 | SH |  | SOLE |  | 9700 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 1665120 | 24000 | SH |  | SOLE |  | 24000 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 1021440 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| CITIZENS FINL GROUP INC | COM | 174610105 |  | 1449900 | 32400 | SH |  | SOLE |  | 32400 | 0 | 0 |
| CNA FINL CORP | COM | 126117100 |  | 1000395 | 21500 | SH |  | SOLE |  | 21500 | 0 | 0 |
| COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 |  | 1061208 | 13600 | SH |  | SOLE |  | 13600 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 802698 | 24600 | SH |  | SOLE |  | 24600 | 0 | 0 |
| CUMMINS INC | COM | 231021106 |  | 1179000 | 3600 | SH |  | SOLE |  | 3600 | 0 | 0 |
| DOCUSIGN INC | COM | 256163106 |  | 1378653 | 17700 | SH |  | SOLE |  | 17700 | 0 | 0 |
| EQUITABLE HLDGS INC | COM | 29452E101 |  | 1587630 | 28300 | SH |  | SOLE |  | 28300 | 0 | 0 |
| EVEREST GROUP LTD | COM | G3223R108 |  | 33985 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| EXELON CORP | COM | 30161N101 |  | 1224444 | 28200 | SH |  | SOLE |  | 28200 | 0 | 0 |
| EXPEDITORS INTL WASH INC | COM | 302130109 |  | 1336725 | 11700 | SH |  | SOLE |  | 11700 | 0 | 0 |
| F5 INC | COM | 315616102 |  | 1559896 | 5300 | SH |  | SOLE |  | 5300 | 0 | 0 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 1344951 | 32700 | SH |  | SOLE |  | 32700 | 0 | 0 |
| FLEX LTD | ORD | Y2573F102 |  | 2371200 | 47500 | SH |  | SOLE |  | 47500 | 0 | 0 |
| FORTINET INC | COM | 34959E109 |  | 243156 | 2300 | SH |  | SOLE |  | 2300 | 0 | 0 |
| FOX CORP | CL A COM | 35137L105 |  | 1440228 | 25700 | SH |  | SOLE |  | 25700 | 0 | 0 |
| FOX CORP | CL B COM | 35137L204 |  | 1440477 | 27900 | SH |  | SOLE |  | 27900 | 0 | 0 |
| GARTNER INC | COM | 366651107 |  | 161688 | 400 | SH |  | SOLE |  | 400 | 0 | 0 |
| GEN DIGITAL INC | COM | 668771108 |  | 1578780 | 53700 | SH |  | SOLE |  | 53700 | 0 | 0 |
| GODADDY INC | CL A | 380237107 |  | 900300 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 1319448 | 10400 | SH |  | SOLE |  | 10400 | 0 | 0 |
| HEICO CORP NEW | CL A | 422806208 |  | 1086750 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 432408 | 2400 | SH |  | SOLE |  | 2400 | 0 | 0 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824C109 |  | 1229045 | 60100 | SH |  | SOLE |  | 60100 | 0 | 0 |
| HP INC | COM | 40434L105 |  | 264168 | 10800 | SH |  | SOLE |  | 10800 | 0 | 0 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 1538568 | 91800 | SH |  | SOLE |  | 91800 | 0 | 0 |
| JACOBS SOLUTIONS INC | COM | 46982L108 |  | 1577400 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| JUNIPER NETWORKS INC | COM | 48203R104 |  | 1573242 | 39400 | SH |  | SOLE |  | 39400 | 0 | 0 |
| KEYCORP | COM | 493267108 |  | 276978 | 15900 | SH |  | SOLE |  | 15900 | 0 | 0 |
| LABCORP HOLDINGS INC | COM SHS | 504922105 |  | 866283 | 3300 | SH |  | SOLE |  | 3300 | 0 | 0 |
| LEIDOS HOLDINGS INC | COM | 525327102 |  | 1372512 | 8700 | SH |  | SOLE |  | 8700 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S A | 531229771 |  | 1538352 | 16200 | SH |  | SOLE |  | 16200 | 0 | 0 |
| LOEWS CORP | COM | 540424108 |  | 1429896 | 15600 | SH |  | SOLE |  | 15600 | 0 | 0 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 337473 | 900 | SH |  | SOLE |  | 900 | 0 | 0 |
| M  T BK CORP | COM | 55261F104 |  | 174591 | 900 | SH |  | SOLE |  | 900 | 0 | 0 |
| MARKEL GROUP INC | COM | 570535104 |  | 519314 | 260 | SH |  | SOLE |  | 260 | 0 | 0 |
| MASCO CORP | COM | 574599106 |  | 740140 | 11500 | SH |  | SOLE |  | 11500 | 0 | 0 |
| METLIFE INC | COM | 59156R108 |  | 828326 | 10300 | SH |  | SOLE |  | 10300 | 0 | 0 |
| NEWS CORP NEW | CL A | 65249B109 |  | 1545440 | 52000 | SH |  | SOLE |  | 52000 | 0 | 0 |
| NEWS CORP NEW | CL B | 65249B208 |  | 1557674 | 45400 | SH |  | SOLE |  | 45400 | 0 | 0 |
| NISOURCE INC | COM | 65473P105 |  | 1246506 | 30900 | SH |  | SOLE |  | 30900 | 0 | 0 |
| NORTHERN TR CORP | COM | 665859104 |  | 1863813 | 14700 | SH |  | SOLE |  | 14700 | 0 | 0 |
| OMNICOM GROUP INC | COM | 681919106 |  | 928026 | 12900 | SH |  | SOLE |  | 12900 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 335556 | 1800 | SH |  | SOLE |  | 1800 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 1307614 | 4900 | SH |  | SOLE |  | 4900 | 0 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 359260 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| RAYMOND JAMES FINL INC | COM | 754730109 |  | 1134938 | 7400 | SH |  | SOLE |  | 7400 | 0 | 0 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 312816 | 13300 | SH |  | SOLE |  | 13300 | 0 | 0 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 665847 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| RESMED INC | COM | 761152107 |  | 619200 | 2400 | SH |  | SOLE |  | 2400 | 0 | 0 |
| ROLLINS INC | COM | 775711104 |  | 795522 | 14100 | SH |  | SOLE |  | 14100 | 0 | 0 |
| ROYALTY PHARMA PLC | SHS CLASS A | G7709Q104 |  | 468390 | 13000 | SH |  | SOLE |  | 13000 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 131418 | 900 | SH |  | SOLE |  | 900 | 0 | 0 |
| SOUTHWEST AIRLS CO | COM | 844741108 |  | 100564 | 3100 | SH |  | SOLE |  | 3100 | 0 | 0 |
| SS TECHNOLOGIES HLDGS INC | COM | 78467J100 |  | 1415880 | 17100 | SH |  | SOLE |  | 17100 | 0 | 0 |
| STATE STR CORP | COM | 857477103 |  | 1191008 | 11200 | SH |  | SOLE |  | 11200 | 0 | 0 |
| SYNCHRONY FINANCIAL | COM | 87165B103 |  | 747488 | 11200 | SH |  | SOLE |  | 11200 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 1215126 | 5100 | SH |  | SOLE |  | 5100 | 0 | 0 |
| TELEDYNE TECHNOLOGIES INC | COM | 879360105 |  | 1485699 | 2900 | SH |  | SOLE |  | 2900 | 0 | 0 |
| TEXTRON INC | COM | 883203101 |  | 537943 | 6700 | SH |  | SOLE |  | 6700 | 0 | 0 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 1417962 | 5300 | SH |  | SOLE |  | 5300 | 0 | 0 |
| TRIMBLE INC | COM | 896239100 |  | 1633570 | 21500 | SH |  | SOLE |  | 21500 | 0 | 0 |
| TWILIO INC | CL A | 90138F102 |  | 758596 | 6100 | SH |  | SOLE |  | 6100 | 0 | 0 |
| UNITED AIRLS HLDGS INC | COM | 910047109 |  | 955560 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| VERISIGN INC | COM | 92343E102 |  | 1559520 | 5400 | SH |  | SOLE |  | 5400 | 0 | 0 |
| VERISK ANALYTICS INC | COM | 92345Y106 |  | 93450 | 300 | SH |  | SOLE |  | 300 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 1311081 | 30300 | SH |  | SOLE |  | 30300 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 639090 | 1800 | SH |  | SOLE |  | 1800 | 0 | 0 |
| WABTEC | COM | 929740108 |  | 1800410 | 8600 | SH |  | SOLE |  | 8600 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 686460 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 40060 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 522466 | 6700 | SH |  | SOLE |  | 6700 | 0 | 0 |

---