| Assets measured at fair value |
Assets measured at fair value are as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | March 28, 2026 | | December 27, 2025 | | | Quoted | | Prices with | | | | | | | | Quoted | | Prices with | | | | | | | | | Prices in | | Other | | | Prices with | | | | | Prices in | | Other | | | Prices with | | | | | | Active | | Observable | | | Unobservable | | | | | Active | | Observable | | | Unobservable | | | | | | Markets | | Inputs | | | Inputs | | | | | Markets | | Inputs | | | Inputs | | | | | | (Level 1) | | (Level 2) | | | (Level 3) | | Total | | (Level 1) | | (Level 2) | | | (Level 3) | | Total | Money market funds | | $ | 76,143 | | $ | 32,983 | | $ | — | | $ | 109,126 | | $ | 182,051 | | $ | 26,450 | | $ | — | | $ | 208,501 | Fixed income funds | | | 5,361 | | | 49,823 | | | — | | | 55,184 | | | 5,365 | | | 44,227 | | | — | | | 49,592 | Treasury securities | | | 346 | | | — | | | — | | | 346 | | | 345 | | | — | | | — | | | 345 | Equity securities | | | 19,350 | | | — | | | 24,734 | | | 44,084 | | | 18,492 | | | — | | | 28,000 | | | 46,492 | Alternative investments | | | — | | | — | | | 4,280 | | | 4,280 | | | — | | | — | | | 4,186 | | | 4,186 | Mutual funds: | | | | | | | | | | | | | | | | | | | | | | | | | Domestic stock funds | | | 10,138 | | | — | | | — | | | 10,138 | | | 10,436 | | | — | | | — | | | 10,436 | International stock funds | | | 836 | | | — | | | — | | | 836 | | | 816 | | | — | | | — | | | 816 | Target funds | | | 11 | | | — | | | — | | | 11 | | | 11 | | | — | | | — | | | 11 | Bond funds | | | 6 | | | — | | | — | | | 6 | | | 6 | | | — | | | — | | | 6 | Alternative funds | | | 501 | | | — | | | — | | | 501 | | | 490 | | | — | | | — | | | 490 | Total mutual funds | | | 11,492 | | | — | | | — | | | 11,492 | | | 11,759 | | | — | | | — | | | 11,759 | Total | | $ | 112,692 | | $ | 82,806 | | $ | 29,014 | | $ | 224,512 | | $ | 218,012 | | $ | 70,677 | | $ | 32,186 | | $ | 320,875 |
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| Available for sale investment portfolio |
Ardellis’ available for sale investment portfolio, including funds held with the State of Michigan, consists of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | March 28, 2026 | | December 27, 2025 | | | | | Unrealized | | | | | | Unrealized | | | | | Cost | | Gain (Loss) | | Fair Value | | Cost | | Gain (Loss) | | Fair Value | Fixed income | | $ | 54,527 | | $ | 617 | | $ | 55,144 | | $ | 49,342 | | $ | 209 | | $ | 49,551 | Treasury securities | | | 346 | | | — | | | 346 | | | 345 | | | — | | | 345 | Equity | | | 14,409 | | | 4,941 | | | 19,350 | | | 14,028 | | | 4,464 | | | 18,492 | Mutual funds | | | 8,545 | | | 2,883 | | | 11,428 | | | 8,545 | | | 3,152 | | | 11,697 | Alternative investments | | | 3,465 | | | 815 | | | 4,280 | | | 3,436 | | | 750 | | | 4,186 | Total | | $ | 81,292 | | $ | 9,256 | | $ | 90,548 | | $ | 75,696 | | $ | 8,575 | | $ | 84,271 |
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