| Schedule of Plan's investment assets at fair value |
| | | | | | | | | | | | | | | Assets at Fair Value as of December 31, 2025 | | | Level 1 | | Level 2 | | Level 3 | | Total | Mutual Funds | | $ | 3,095,317,017 | | $ | — | | $ | — | | $ | 3,095,317,017 | Vanguard Brokerage Option | | | 215,176,354 | | | | | | | | | 215,176,354 | SAP ADR Stock Fund | | | 118,251,590 | | | — | | | — | | | 118,251,590 | Common Collective Trust Funds | | | — | | | 5,561,237,964 | | | — | | | 5,561,237,964 | Total investments measured at fair value | | $ | 3,428,744,961 | | $ | 5,561,237,964 | | $ | — | | | 8,989,982,925 | Common Collective Trust Funds measured at net asset value* | | | | | | | | | | | | 192,585,852 | Total investments | | | | | | | | | | | $ | 9,182,568,777 |
| | | | | | | | | | | | | | | Assets at Fair Value as of December 31, 2024 | | | Level 1 | | Level 2 | | Level 3 | | Total | Mutual Funds | | $ | 2,740,041,467 | | $ | — | | $ | — | | $ | 2,740,041,467 | Vanguard Brokerage Option | | | 177,375,039 | | | | | | | | | 177,375,039 | SAP ADR Stock Fund | | | 121,650,017 | | | — | | | — | | | 121,650,017 | Common Collective Trust Funds | | | — | | | 4,824,017,495 | | | — | | | 4,824,017,495 | Total investments measured at fair value | | $ | 3,039,066,523 | | $ | 4,824,017,495 | | $ | — | | | 7,863,084,018 | Common Collective Trust Funds measured at net asset value* | | | | | | | | | | | | 216,679,418 | Total investments | | | | | | | | | | | $ | 8,079,763,436 |
| * | Certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Net Assets Available for Benefits. |
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