v3.26.1
Investment in Master Trust (Tables) - EBP 001
 12 Months Ended
Dec. 31, 2025
EBP, Master Trust [Line Items]  
Summary of Investments in Master Trust
The net assets of the Master Trust and the Plan's interest in the Master Trust balances as of December 31 were as follows:
20252024
(in thousands)Master Trust BalancesPlan Interest in Master Trust BalancesMaster Trust BalancesPlan Interest in Master Trust Balances
Investments at fair value:
WEC common stock$589,644 $328,687 $— $— 
   WEC common stock fund— — 577,106 324,385 
   Mutual funds387,841 186,546 1,346,121 668,654 
   Common collective trust funds2,920,562 1,562,938 1,571,663 878,232 
Total investments at fair value$3,898,047 $2,078,171 $3,494,890 $1,871,271 
Blended Rate Income Fund, at contract value112,458 76,544 128,242 85,667 
Total investments$4,010,505 $2,154,715 $3,623,132 $1,956,938 

The Master Trust's net investment income for the year ended December 31, 2025 was as follows:
(in thousands)2025
Interest and dividend income$51,569 
Net appreciation in the fair value of investments578,141 
Net investment income$629,710 
Plan interest in Master Trust net investment income$339,803 
Fair Value Measurements
The following tables set forth by level, within the fair value hierarchy, the Master Trust's assets measured at fair value on a recurring basis as of December 31:
December 31, 2025
(in thousands)Level 1Level 2Level 3Total
WEC common stock$589,644 $— $— $589,644 
Mutual funds387,841 — — 387,841 
Total assets in the fair value hierarchy$977,485 $— $— $977,485 
Investments measured at net asset value (1)
2,920,562 
Total investments at fair value$977,485 $— $— $3,898,047 

December 31, 2024
(in thousands)Level 1Level 2Level 3Total
WEC common stock fund:
WEC common stock$571,128 $— $— $571,128 
Money market mutual fund5,978 — — 5,978 
Mutual funds1,346,121 — — 1,346,121 
Total assets in the fair value hierarchy$1,923,227 $— $— $1,923,227 
Investments measured at net asset value (1)
1,571,663 
Total investments at fair value$1,923,227 $— $— $3,494,890 

(1)    Certain investments that were measured at net asset value per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to investments at fair value noted in the table at the beginning of this Note 3.
The following table summarizes the investments measured using the net asset value per share practical expedient as of December 31, 2025 and 2024, respectively. There are no participant redemption restrictions for these investments; the redemption notice period is applicable only to the Plan.
(in thousands)Fair Value
Investment20252024Unfunded CommitmentRedemption FrequencyRedemption Notice Period
Common collective trust funds$2,920,562 $1,571,663 —DailyNone