| Schedule of fair value hierarchy |
The following tables set forth by level, within the fair value hierarchy, the Master Trust’s assets at fair value as of December 31, 2025 and 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Assets at Fair Value as of December 31, 2025 | | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets within the Master Trust: | | | | | | | | | | Short-Term Investment Funds | | $ | 607,596 | | | $ | — | | | | | $ | 607,596 | | | Preferred Stock | | | | | | $ | 387 | | | 387 | | | Corning Common Stock | | 487,273 | | | | | | | 487,273 | | | | | | | | | | | | Total Investments | | $ | 1,094,869 | | | $ | — | | | $ | 387 | | | $ | 1,095,256 | | | | | | | | | | | | Investments Measured at Net Asset Value (a) | | | | | | | | 4,503,842 | | | | | | | | | | | | Total Investment at Fair Value | | | | | | | | $ | 5,599,098 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Assets at Fair Value as of December 31, 2024 | | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets within the Master Trust: | | | | | | | | | | Short-Term Investment Funds | | $ | 224,827 | | | $ | — | | | | | $ | 224,827 | | | Preferred Stock | | | | | | $ | 387 | | | 387 | | | Corning Common Stock | | 310,647 | | | | | | | 310,647 | | | | | | | | | | | | Total Investments | | $ | 535,474 | | | $ | — | | | $ | 387 | | | $ | 535,861 | | | | | | | | | | | | Investments Measured at Net Asset Value (a) | | | | | | | | 3,941,764 | | | | | | | | | | | | Total Investment at Fair Value | | | | | | | | $ | 4,477,625 | |
| | | | | | | | | | | (a) | In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient 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 the amounts included in the Corning Master Trust Fund (Note 3). |
The table below sets forth a summary of changes in the fair value of the Plan’s Level 3 investments for the year ended December 31, 2025 (in thousands): | | | | | | | | | | Balance, Beginning of the year | | $ | 387 | | | | | | | | | Unrealized gain (loss) | | — | | | Balance, End of the year | | $ | 387 | |
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