| EBP, Investment, Fair Value and NAV |
The investments of the Plan that are measured at fair value on a recurring basis as of December 31, 2025 and December 31, 2024, and their level within the fair value hierarchy, are as follows: | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2025 | | | Total
Fair Value | Quoted Prices
in Active Markets for Identical Assets
(Level 1) | Significant Other Observable Inputs
(Level 2) | Significant Unobservable Inputs
(Level 3) | | Investments at fair value: | | | | | | Non-pooled separate account: | | | | | | Hormel Foods Corporation Stock Fund | $ | 28,865,231 | | $ | 28,865,231 | | $ | — | | $ | — | | | | | | | | Mutual funds | 3,813,899 | | 3,813,899 | | — | | — | | | | | | | | Self-directed brokerage accounts | 1,493,415 | | 1,493,415 | | — | | — | | | Total investments in the fair value hierarchy | 34,172,545 | | $ | 34,172,545 | | $ | — | | $ | — | | | | | | | | Investments measured at net asset value as a practical expedient: | | | | | | Separate trust accounts: | | | | | | | | | | | Collective trusts | 112,000,820 | | | | | | Total separate trust accounts | 112,000,820 | | | | | | Total investments at fair value | $ | 146,173,365 | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2024 | | | Total
Fair Value | Quoted Prices
in Active
Markets for
Identical Assets
(Level 1) | Significant
Other
Observable
Inputs
(Level 2) | Significant
Unobservable
Inputs
(Level 3) | | Investments at fair value: | | | | | | Non-pooled separate account: | | | | | | Hormel Foods Corporation Stock Fund | $ | 41,379,535 | | $ | 41,379,535 | | $ | — | | $ | — | | | | | | | | Mutual funds | 3,303,395 | | 3,303,395 | | — | | — | | | | | | | | Self-directed brokerage accounts | 1,379,499 | | 1,379,499 | | — | | — | | | Total investments in the fair value hierarchy | 46,062,429 | | $ | 46,062,429 | | $ | — | | $ | — | | | | | | | | Investments measured at net asset value as a practical expedient: | | | | | | Separate trust accounts: | | | | | | Collective trusts | 98,522,415 | | | | | | Total separate trust accounts | 98,522,415 | | | | | | Total investments at fair value | $ | 144,584,843 | | | | |
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