| Schedule of summary of the net assets of the Master Trust and the Plan's interest in the Master Trust |
Note 3 - The Master Trust (Continued) A summary of the net assets of the Master Trust and the Plan’s interest in the Master Trust as of December 31, 2025 and 2024 is as follows (in thousands): Summary of Net Assets - Note 3 Master Trust | | | | | | | | | | | | | | | 2025 | | 2024 | | | Master Trust | | Plan’s Interest in | | Master Trust | | Plan’s Interest in | | | Balances | | Master Trust | | Balances | | Master Trust | Investments - Fair value: | | | | | | | | | | | | | Separate Account - Common Stock (1) | | $ | 381,021 | | $ | 87,465 | | $ | 506,138 | | $ | 111,186 | Ford Stock Fund | | | 1,822,288 | | | 897,932 | | | 1,527,436 | | | 728,378 | Common and commingled institutional pools | | | 24,695,725 | | | 7,836,290 | | | 20,992,156 | | | 6,431,136 | | | | | | | | | | | | | | Total Investments at Fair Value | | | 26,899,034 | | | 8,821,687 | | | 23,025,730 | | | 7,270,700 | | | | | | | | | | | | | | | | | | | | | | | | | | | Investments at Contract value - Interest Income Fund | | | 2,414,326 | | | 907,648 | | | 2,405,123 | | | 920,835 | | | | | | | | | | | | | | Total Investments | | | 29,313,360 | | | 9,729,335 | | | 25,430,853 | | | 8,191,535 | | | | | | | | | | | | | | Other Assets/(Liabilities) - Net (2) | | | (2,288) | | | — | | | (2,943) | | | — | Total Net Assets | | $ | 29,311,072 | | $ | 9,729,335 | | $ | 25,427,910 | | $ | 8,191,535 |
| (1) | The fund is primarily made up of common stock that is owned 100% by the Master Trust. |
| (2) | Includes accrued but unpaid fees, unsettled trades, and other receivables. In the Plan’s Interest in Master Trust, these amounts are reported within total investments and are not material to the amounts presented. |
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| Schedule of the Master Trust investment gain |
During the year ended December 31, 2025, the Master Trust investment gain was comprised of the following (in thousands): | | | | Net realized and unrealized gains | | $ | 4,485,349 | | | | | Dividend and other income | | | 117,411 | | | | | Total Master Trust investment gains | | $ | 4,602,760 |
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