Company: DTK
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000936340-25-000182
Chunk: 155

Company: DTE ENERGY CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 8
Chunk 155
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 as publicly-traded commingled funds, are valued using quoted market prices in actively traded markets.  Non-exchange traded fixed income securities are valued based upon quotations available from brokers or pricing services.Non-publicly traded commingled funds holding exchange-traded equity or debt securities are valued based on stated NAVs.  There are no significant restrictions for these funds and investments may be redeemed with 7 to 65 days notice depending on the fund.  There is no intention to sell the investment in these commingled funds.Private equity and other assets include a diversified group of funds that are primarily classified as NAV assets.  These funds primarily invest in limited partnerships, including private equity, private real estate and private credit.  Distributions are received through the liquidation of the underlying fund assets over the life of the funds.  There are generally no redemption rights.  The limited partner must hold the fund for its life or find a third-party buyer, which may need to be approved by the general partner.  The funds are established with varied contractual durations generally in the range of 7 years to 12 years.  The fund life can often be extended by several years by the general partner, and further extended with the approval of the limited partners.  Unfunded commitments related to these investments totaled $136 million and $120 million as of June 30, 2025 and December 31, 2024, respectively.

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Table of ContentsDTE Energy Company — DTE Electric CompanyCombined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Hedge funds and similar investments utilize a diversified group of strategies that attempt to capture uncorrelated sources of return.  These investments include publicly traded mutual funds that are valued using quoted prices in actively traded markets, as well as insurance-linked and asset-backed securities that are valued using quotations from broker or pricing services and limited partnerships that are classified as NAV assets.For pricing the nuclear decommissioning trusts and other investments, a primary price source is identified by asset type, class, or issue for each security.  The trustee monitors prices supplied by pricing services and may use a supplemental price source or change the primary source of a given security if the trustee determines that another price source is considered preferable.  The Registrants have obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices.Derivative Assets and LiabilitiesDerivative assets and liabilities are comprised of physical and financial derivative contracts, including futures, forwards,