Data as of Q4 2025 (Dec 31, 2025)

Board of the Pension Protection Fund

โ€ขCIK: 2041021โ€ขFiling: Q4 2025

**Board of the Pension Protection Fund** This fund manages $105M across a diversified portfolio of 251 positions. Top concentration highlights significant allocations to CNC ($1.9M) and TWLO ($1.8M), alongside multiple $1.8M positions in ZM, PCG, GM, FOXA, FOX, EXPE, and OMC. The strategy maintains notable exposure to diverse sectors, evidenced by the top ten holdings representing a concentrated, yet varied, risk profile.

Total AUM
$105.1M
QoQ Performance
+2.9%
Positions
247
Top 10 Concentration
17.3%
Latest Filing
Q4 2025

Top Holdings Allocation

CNC1.8%
TWLO1.8%
ZM1.8%
PCG1.7%
GM1.7%
FOXA1.7%
FOX1.7%
EXPE1.7%

๐Ÿ“ˆ Biggest Buys

GM
GENERAL MTRS CO
NEW
1.7% of portfolio
AVY
AVERY DENNISON CORP
NEW
1.5% of portfolio
โ€”
SMURFIT WESTROCK PLC
NEW
1.4% of portfolio
GDDY
GODADDY INC
+883.3%
1.4% of portfolio
EG
EVEREST GROUP LTD
+293.8%
1.7% of portfolio

๐Ÿ“‰ Biggest Sells

BK
BANK NEW YORK MELLON CORP
-97.2%
0.0% of portfolio
LDOS
LEIDOS HOLDINGS INC
-89.7%
0.2% of portfolio
CFG
CITIZENS FINL GROUP INC
-95.4%
0.1% of portfolio
NI
NISOURCE INC
-94.6%
0.1% of portfolio
FITB
FIFTH THIRD BANCORP
-95.1%
0.1% of portfolio

Sector Breakdown

Other91.3%
Communication4.2%
Financial3.1%
Healthcare0.6%
Consumer Staples0.2%
Energy0.2%
Technology0.2%
Utilities0.1%

๐Ÿšช Exited Positionssold since Q3 2025

T
AT&T INC
SOLD
$1.4M
TMUS
T-MOBILE US INC
SOLD
$1.3M
WBD
WARNER BROS DISCOVERY INC
SOLD
$1.0M
UHS
UNIVERSAL HLTH SVCS INC
SOLD
$960.9K
VTRS
VIATRIS INC
SOLD
$888.0K
+25 more exited positions

Changes from Q3 2025

NEW86 new positions
โ†‘59 increased
โ†“55 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024