MASTER TRUST INVESTMENTS (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| EBP 001 |
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| EBP, Master Trust [Line Items] |
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| Schedule of Master Trust Net Assets |
The following tables present the Master Trust net assets and the Plan’s interest in the Master Trust net assets as of December 31, 2025 and 2024: | | | | | | | | | | | | | 2025 | | (in thousands) | Master Trust | | Plan Interest in the Master Trust | | Equity Funds | $ | 4,313,915 | | | $ | 2,298,677 | | | Target Date Funds | 3,812,545 | | | 1,826,136 | | | PG&E Corporation Stock Fund | 312,035 | | | 121,966 | | | Brokerage Link Accounts | 1,424,411 | | | 701,430 | | | Fixed Income Funds | 898,994 | | | 460,657 | | | Money Market Fund | 433,954 | | | 213,938 | | | Total Trust investments at fair value | 11,195,854 | | | 5,622,804 | | | Administrative expense payable | (387) | | | (127) | | | Total | $ | 11,195,467 | | | $ | 5,622,677 | |
| | | | | | | | | | | | | 2024 | | (in thousands) | Master Trust | | Plan Interest in the Master Trust | | Equity Funds | $ | 3,704,541 | | | $ | 1,965,779 | | | Target Date Funds | 3,144,374 | | | 1,490,415 | | | PG&E Corporation Stock Fund | 417,332 | | | 158,079 | | | Brokerage Link Accounts | 1,118,299 | | | 559,488 | | | Fixed Income Funds | 821,995 | | | 416,391 | | | Money Market Fund | 433,050 | | | 206,653 | | | Total Trust investments at fair value | 9,639,591 | | | 4,796,805 | | | Administrative expense payable | (206) | | | (64) | | | Total | $ | 9,639,385 | | | $ | 4,796,741 | |
The following table presents the changes in net assets of the Master Trust for the years ended December 31, 2025 and 2024: | | | | | | | | | | | | | Year Ended December 31, | | (in thousands) | 2025 | | 2024 | | Net appreciation in fair value investments | $ | 1,432,336 | | | $ | 1,134,419 | | | Dividends and interest | 66,426 | | | 51,985 | | | Net investment income | 1,498,762 | | | 1,186,404 | | | Net transfers | 63,259 | | | (32,393) | | | Administrative expenses | (5,939) | | | (5,382) | | | Increase in net assets | 1,556,082 | | | 1,148,629 | | | Net assets: | | | | | Beginning of year | 9,639,385 | | | 8,490,756 | | | End of year | $ | 11,195,467 | | | $ | 9,639,385 | |
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| EBP 002 |
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| EBP, Master Trust [Line Items] |
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| Schedule of Master Trust Net Assets |
The following tables present the Master Trust net assets and the Plan’s interest in the Master Trust net assets as of December 31, 2025 and 2024: | | | | | | | | | | | | | 2025 | | (in thousands) | Master Trust | | Plan Interest in the Master Trust | | Equity Funds | $ | 4,313,915 | | | $ | 2,015,238 | | | Target Date Funds | 3,812,545 | | | 1,986,409 | | | PG&E Corporation Stock Fund | 312,035 | | | 190,069 | | | Brokerage Link Accounts | 1,424,411 | | | 722,981 | | | Fixed Income Funds | 898,994 | | | 438,337 | | | Money Market Fund | 433,954 | | | 220,016 | | | Total Trust investments at fair value | 11,195,854 | | | 5,573,050 | | | Administrative expense payable | (387) | | | (260) | | | Total | $ | 11,195,467 | | | $ | 5,572,790 | |
| | | | | | | | | | | | | 2024 | | (in thousands) | Master Trust | | Plan Interest in the Master Trust | | Equity Funds | $ | 3,704,541 | | | $ | 1,738,762 | | | Target Date Funds | 3,144,374 | | | 1,653,959 | | | PG&E Corporation Stock Fund | 417,332 | | | 259,253 | | | Brokerage Link Accounts | 1,118,299 | | | 558,811 | | | Fixed Income Funds | 821,995 | | | 405,604 | | | Money Market Fund | 433,050 | | | 226,397 | | | Total Trust investments at fair value | 9,639,591 | | | 4,842,786 | | | Administrative expense payable | (206) | | | (142) | | | Total | $ | 9,639,385 | | | $ | 4,842,644 | |
The following table presents the changes in net assets of the Master Trust for the years ended December 31, 2025 and 2024: | | | | | | | | | | | | | Year Ended December 31, | | (in thousands) | 2025 | | 2024 | | Net appreciation in fair value investments | $ | 1,432,336 | | | $ | 1,134,419 | | | Dividends and interest | 66,426 | | | 51,985 | | | Net investment income | 1,498,762 | | | 1,186,404 | | | Net transfers | 63,259 | | | (32,393) | | | Administrative expenses | (5,939) | | | (5,382) | | | Increase in net assets | 1,556,082 | | | 1,148,629 | | | Net assets: | | | | | Beginning of year | 9,639,385 | | | 8,490,756 | | | End of year | $ | 11,195,467 | | | $ | 9,639,385 | |
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