PPG Industries, Inc.

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 1,025 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Holdings are 8 named, majority- or near-majority-owned joint-venture entities disclosed in the FY2025 10-K's Exhibit 21 'Subsidiaries of the Registrant' table (as of 31 Dec 2025), all listed among 'Significant subsidiaries included in the 2025 consolidated financial statements,' i.e. PPG consolidates each despite owning less than 100 percent: the 4-entity Kansai Paints automotive-refinish alliance group in the U.S., Canada, U.K. and Mexico (all 60 percent), the India 50/50 joint venture with Asian Paints Ltd. (PPG Asian Paints Private Limited), PPG Advanced Surface Technologies LLC (65 percent), PPG SSC Co., Ltd. in South Korea (80.01 percent) and PPG Industries (U.A.E.) LLC (49 percent, the one row where PPG's own disclosed voting stake is a minority). This is the JV-heavy company the research task flagged, so every pct_of_target was read back against its own method_note prose before writing this file: all are whole numbers (60, 50, 65, 80.01, 49), never fractions like 0.6 or 0.5.
• Direction: all 8 rows are stakes PPG holds IN other entities. This is distinct from the reverse relationship visible in PPG's own balance sheet: PPG's consolidated 'Noncontrolling interests' equity line ($147 million at 30 Jun 2026 per the Q2 2026 10-Q; $156 million at 31 Dec 2025 and $177 million at 31 Dec 2024 per the 10-K) represents what Kansai Paint, Asian Paints and the other JV partners hold inside PPG's OWN consolidated group through these same entities, i.e. the other side of these 8 holdings, not a separate stake that those partners hold in PPG itself. No individual entity's carrying value or its slice of that combined noncontrolling-interest balance is broken out anywhere in the 10-K or Q2 2026 10-Q, so value_usd is null on every holdings row per the combined-balance rule.
• Separately, the 10-K's Note 5 'Investments' also discloses 'Investments in equity affiliates' of $151 million at 31 Dec 2025 ($141 million at 31 Dec 2024), described as PPG's 20-to-50-percent ownership interests in entities that manufacture and sell coatings and certain chemicals, accounted for under the equity method (not consolidated). No individual investee is named anywhere in the 10-K or Q2 2026 10-Q for this bucket (searches for 'equity method', 'unconsolidated' and the balance's own surrounding text turned up no investee names), so this combined figure is NOT assigned to any of the 8 holdings above (those are separately-disclosed consolidated majority-owned subsidiaries, not equity-method affiliates) and is recorded only here and in unknowns.
• Divestiture check per the brief: confirmed PPG retained NO equity interest in either of its two major recent divestitures. Note 2 'Divestitures' of the FY2025 10-K states PPG 'completed the sale of 100% of its architectural coatings business in the U.S. and Canada to American Industrial Partners' in 2024 ($516 million proceeds, $285 million loss), and separately 'completed the sale of its silicas products business' in Q4 2024 for $325 million proceeds ($129 million gain), with the only continuing relationship being ordinary supply and transition-services agreements, not an equity stake. Searches of the 10-K for 'equity interest', 'retained', 'minority interest' and 'minority stake' returned no reference to any retained PPG position in either divested business, unlike Roper's file which found a real 43.4 percent retained stake from a divestiture.
• Register uses each institution's Q2 2026 (30 Jun 2026) Form 13F-HR as the primary source, preferred over the 2026 proxy's stale Schedule 13G/A figures per the brief's chunk 19-27 lesson. The correction runs in both directions here: BlackRock moved UP from the proxy's 19,546,603 shares (8.7%, as of 31 Dec 2023) to 23,550,100 shares (10.59%); State Street moved UP from 11,719,387 (5.2%, as of 30 Sep 2024) to 13,871,116 (6.24%); Vanguard's stale single-entity 13G figure of 28,611,578 (12.8%, as of 30 Sep 2024) is superseded by the fresh 8-entity family sweep at 29,716,579 (13.37%); but Wellington Management Group LLP moved DOWN, from the proxy's 15,159,770 shares (6.8%, as of 30 Sep 2025) to 8,612,746 shares (3.87%, as of 30 Jun 2026).
• Vanguard parent (The Vanguard Group, Inc., CIK 0000102909) filed Form 13F-NT (a notice carrying no holdings) for Q2 2026, confirmed via its EDGAR submissions feed. Per the brief's rule, the position is reported entirely by successor entities; all 8 entities identified in this project's own pre-existing data/registers/PPG.json (a Q1 2026 13F derivation) were individually queried for Q2 2026 and summed to 29,716,579 shares, avoiding the earlier-chunk mistake of summing only two successors.
• PPG has a single class of common stock (par value $1.66 2/3 per share, unchanged between the Q2 2026 10-Q cover page and the 2026 proxy); no split found in either filing searched.
• Self-gate, computed the way the chart computes it: 8 register rows. The insider aggregate is reduced to its residual (728,572 total minus Knavish's 223,273 rolled-up shares = 505,299) and Knavish is counted at full value; all 6 institutional rows count at full value (none is an aggregate with members). Total: 29,716,579 (Vanguard) + 23,550,100 (BlackRock) + 13,871,116 (State Street) + 8,612,746 (Wellington) + 7,881,941 (Franklin Resources) + 6,082,060 (Geode) + 505,299 (insider residual) + 223,273 (Knavish) = 90,443,114 shares against 222,300,000 shares outstanding, or 40.68 percent, within the expected 25-to-45-percent range.