| Schedule H, Line 4i – Schedule of Assets (Held At End of Year) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | SOUTHWEST GAS CORPORATION | | | | EMPLOYEES’ INVESTMENT PLAN | | | | | | | | | | | | | E.I.N. 88-0085720 | | | | PLAN NO. 004 | | | | SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) | | | | AT DECEMBER 31, 2025 | | | | | | | | | | | | (a) | | (b) Identity of issue, borrower, lessor, or similar party | | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | | (d) Cost | | (e) Current value | | | | | | | | | | | * | | Southwest Gas Holdings, Inc. | | Company common stock (753,876 shares) | | ** | | $ | 60,325,197 | | | | | | | | | | | | * | | Fidelity Investments | | Contrafund Pool Class A | | ** | | 143,657,806 | | | | | | | | | | | | * | | Fidelity Investments | | Freedom 2010 Commingled Pool Class D | | ** | | 3,035,018 | | | | | | | | | | | | * | | Fidelity Investments | | Freedom 2015 Commingled Pool Class D | | ** | | 4,574,356 | | | | | | | | | | | | * | | Fidelity Investments | | Freedom 2020 Commingled Pool Class D | | ** | | 14,432,866 | | | | | | | | | | | | * | | Fidelity Investments | | Freedom 2025 Commingled Pool Class D | | ** | | 22,124,940 | | | | | | | | | | | | * | | Fidelity Investments | | Freedom 2030 Commingled Pool Class D | | ** | | 37,062,094 | | | | | | | | | | | | * | | Fidelity Investments | | Freedom 2035 Commingled Pool Class D | | ** | | 27,356,002 | | | | | | | | | | | | * | | Fidelity Investments | | Freedom 2040 Commingled Pool Class D | | ** | | 38,257,480 | | | | | | | | | | | | * | | Fidelity Investments | | Freedom 2045 Commingled Pool Class D | | ** | | 32,163,082 | | | | | | | | | | | | * | | Fidelity Investments | | Freedom 2050 Commingled Pool Class D | | ** | | 26,830,501 | | | | | | | | | | | | * | | Fidelity Investments | | Freedom 2055 Commingled Pool Class D | | ** | | 20,094,378 | | | | | | | | | | | | * | | Fidelity Investments | | Freedom 2060 Commingled Pool Class D | | ** | | 11,476,100 | | | | | | | | | | | | * | | Fidelity Investments | | Freedom 2065 Commingled Pool Class D | | ** | | 5,068,131 | | | | | | | | | | | | * | | Fidelity Investments | | Freedom Retirement Commingled Pool Class D | | ** | | 3,225,182 | | | | | | | | | | | | * | | Fidelity Investments | | Government Money Market Fund | | ** | | 1,145 | | | | | | | | | | | | * | | Fidelity Investments | | 500 Index | | ** | | 73,986,463 | | | | | | | | | | | | * | | Fidelity Investments | | Low-Priced Stock Fund Class K | | ** | | 27,954,484 | | | | | | | | | | | | | DFA | | U.S. Small Cap Growth Portfolio Institutional Class | | ** | | 22,726,186 | | | | | | | | | | | | | T. Rowe Price | | Institutional Large Cap Value Fund | | ** | | 23,605,652 | | | | | | | | | | | | | Vanguard Group, Inc. | | International Growth Fund Admiral Shares | | ** | | 25,213,962 | | | | | | | | | | | | | Victory Funds | | Victory Integrity Small-Cap Value Fund | | ** | | 9,858,711 | | | | | | | | | | | | | FIAM | | Core Plus Commingled Pool Class F | | ** | | 23,197,709 | | | | | | | | | | | | | T. Rowe Price | | Stable Value Common Trust Fund A | | ** | | 27,328,605 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | * | | Temporary Cash Investments | | Temporary Cash Investments | | ** | | 6,449 | | | | | | | | | | | | | | | | | | | 683,562,499 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | * | | Participant Loans | | Interest rates from 5.25% to 10.50% maturing 2026 - 2030 | | N/A | | 9,321,006 | | | | | | | | | | | | | | | | | | | $ | 692,883,505 | |
* A party-in-interest for which a statutory exemption exists. ** All investments are participant directed; therefore, cost information in column (d) is not required.
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