| Fair Value Measurements |
Investments A summary of the fair value of the Plan's investments at December 31, 2025 and 2024 follows. | | | | | | | | | | | | | 2025 | | 2024 | | (in thousands) | Common Stock: | | | | | GE Aerospace Common Stock | $ | 2,988,451 | | | $ | 1,763,873 | | | GE Vernova Common Stock | — | | | 703,492 | | | | | | | Total Common Stock | $ | 2,988,451 | | | $ | 2,467,365 | | | | | | | | | | | | | | Registered Investment Companies: | | | | SSGA US Core Equity Fund(a) | 1,663,121 | | | 2,309,195 | | SSGA Income Fund | 391,318 | | | 397,883 | | SSGA Small-Cap Equity Fund | 370,317 | | | 420,989 | | Total Registered Investment Companies | 2,424,756 | | | 3,128,067 | | | | | | Collective Funds:(b) | | | | | Non-U.S. Equity Index Fund (MSCI ACWI EX-US Index NL Fund F) | 1,823,383 | | | 1,221,120 | | | U.S. Aggregate Bond Index Fund (US Debt Index NL Fund F) | 1,290,988 | | | 1,061,299 | | | U.S. Large-Cap Equity Index Fund (Equity Index NL Fund F) | 2,414,333 | | | 2,127,712 | | | U.S. Mid-Cap Equity Index Fund (Mid Cap Equity NL Fund F) | 571,284 | | | 569,870 | | | U.S. Small-Cap Equity Index Fund (Russell 2000 Index NL Fund F) | 477,821 | | | 478,406 | | | U.S. Treasury Inflation-Protected Securities Index Fund (US TIPS NL Fund F) | 109,146 | | | 216,581 | | | Enhanced Roll Yield Index Fund F | 19,370 | | | — | | FTSE All Equity REITS Index Non-Lending Fund (FTSE NAREIT All Equity REITS Index) | 129,896 | | | — | | | Long Term Government Bond Index Non-Lending Fund | 63,614 | | | — | | | Long Term Credit Bond Index Non-Lending Fund | 86,268 | | | — | | | Global Core Infrastructure Index Non-Lending Fund | 82,185 | | | — | | | 0-5 Year U.S. TIPS Non-Lendable Fund | 146,029 | | | — | | | Russell 1000 Index Non-Lendable Fund F | 2,326,436 | | | 1,847,971 | | State Street Custom Government Reserves Fund | 806,519 | | | 737,220 | | | State Street Custom Short Term Interest Fund (State Street Custom Short Term NL S) | 196,500 | | | 180,985 | | Arrowstreet US Equity Collective Fund (a) | 712,743 | | | — | | Mercer GE International Equity Fund | 434,053 | | | 319,255 | | | Commodity Index Daily Fund | — | | | 35,219 | | | BlackRock Developed Real Estate Index Non-Lendable Fund | — | | | 147,116 | | Total Collective Funds | 11,690,568 | | | 8,942,754 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total investments at fair value | $ | 17,103,775 | | | $ | 14,538,186 | |
(a) Effective in 2025, the RSP US Equity Fund is a separate account that invests in a combination of the Arrowstreet US Equity Collective Fund and SSGA US Core Equity Fund (which are not otherwise offered as direct investment options in the Plan), representing a variety of asset classes. (b) The Target Retirement Date Funds are separate accounts that invest in a combination of the Index Funds as well as the Commodity Index Daily Fund, BlackRock Developed Real Estate Index Non-Lendable Fund , Enhanced Roll Yield Index Fund, FTSE All Equity REITS Index Non-Lending Fund, Long Term Government Bond Index Non-Lending Fund, Long Term Credit Bond Index Non-Lending Fund, Global Core Infrastructure Index Non-Lending Fund, 0-5 Year U.S. TIPS Non-Lendable Fund, and the Russell 1000 Index Non-Lendable Fund (which are not otherwise offered as direct investment options in the Plan), representing a variety of asset classes. Fair Value MeasurementsThe Plan's investments measured at fair value on a recurring basis at December 31, 2025 follow. | | | | | | | | | | | | | | | | | | | | | Level 1 | | Level 2 | | | | Total | Investments | (in thousands)
| | | | | | | | | Common Stock | $ | 2,988,451 | | $ | — | | | | $ | 2,988,451 | Registered Investment Companies | 2,424,756 | | — | | | | 2,424,756 | | $ | 5,413,207 | | $ | — | | | | $ | 5,413,207 | Investments measured at net asset value(a) | | | | | | | | Collective Funds | | | | | | | 11,690,568 | Total investments at fair value | | | | | | | $ | 17,103,775 | | | | | | | | | | The Plan’s investments measured at fair value on a recurring basis at December 31, 2024 follow. | | | | | | | | | | Level 1 | | Level 2 | | | | Total | Investments | (in thousands)
| | | | | | | | | Common Stock | $ | 2,467,366 | | $ | — | | | | $ | 2,467,366 | Registered Investment Companies | 3,128,067 | | — | | | | 3,128,067 | | $ | 5,595,433 | | $ | — | | | | $ | 5,595,433 | Investments measured at net asset value(a) | | | | | | | | Collective Funds | | | | | | | 8,942,753 | Total investments at fair value | | | | | | | $ | 14,538,186 |
(a) 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 plan benefits. Investments in collective funds are valued based on the year-end unit NAV. The NAV is used as a practical expedient to estimate fair value. These investments are priced daily and there are no unfunded commitments or redemption restrictions associated with the funds. The State Street Government Reserve Fund as included in the above collective funds total, comprises of interest-bearing cash and does not file as direct filing entity with the DOL.
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