Company: SREA
Filing Date: 2025-06-11
Form Type: 11-K
Source: 0001032208-25-000035
Chunk: 40

Company: SEMPRA
Filing Date: 2025-06-11
Form: 11-K
Chunk 40
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 5 for discussion of fair value measurements.

Investment income related to the Plan’s interest in the Master Trust is presented in Net investment gain – Plan interest in Master Trust in the Statement of Changes in Net Assets Available for Benefits and consists of net appreciation (depreciation) in the fair value of investments and dividend income. Net appreciation (depreciation) includes realized gains and losses on investments sold during the year and unrealized gains and losses on investments held as of year-end. Purchases and sales of investments are recorded on a trade-date basis. Dividend income is recorded on the ex-dividend date.

#### Concentrations of Investments
— Included in the Plan’s investment held in the Master Trust at December 31, 2024 and 2023, are shares of Sempra common stock with a fair value of $665,310,000 and $601,686,000, respectively. This investment represents 22.08% and 23.01% of the Plan’s investment at December 31, 2024 and 2023, respectively. A significant decline in the market value of Sempra common stock would significantly affect the Plan’s net assets available for benefits.

Additionally, the Master Trust has a significant concentration of investments in mutual funds and common/collective trusts offered by TRP and The Vanguard Group, Inc. at December 31, 2024 and 2023. A significant decline in the market value of these investments would significantly affect the Plan’s net assets available for benefits. The Plan’s share of these investments held in the Master Trust are as follows (dollars in thousands):

|                          |     |        | December 31, 2024 |     |                        |       |   |     |        | December 31, 2023 |     |                        |       |   |
|:-------------------------|:----|:-------|------------------:|:----|:-----------------------|------:|:--|:----|:-------|------------------:|:----|:-----------------------|------:|:--|
|                          |     | Amount |                   |     | % of Plan’s Investment |       |   |     | Amount |                   |     | % of Plan’s Investment |       |   |
| TRP                      |     | $      |         1,426,615 |     |                        | 47.35 | % |     | $      |         1,266,769 |     |                        | 48.44 |