v3.26.1
FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 31, 2025
EBP 004  
EBP, Investment, Fair Value and NAV [Line Items]  
FAIR VALUE MEASUREMENTS
NOTE 3:FAIR VALUE MEASUREMENTS
The following tables present the investments of the Plan that are measured at fair value on a recurring basis at December 31, 2025 and 2024.
Assets at Fair Value as of December 31, 2025
 Level 1  Level 2  Level 3  Total
Cash and cash equivalents$14,509,693 $— $— $14,509,693 
Corporate bonds— 593,950,900 — 593,950,900
Preferred stock5,629,831 1,068,167 — 6,697,998
Common stock - Marriott International, Inc.1,953,929,059 — — 1,953,929,059
Common stock - others2,425,186,559 161,704 — 2,425,348,263
Foreign government debt securities— 1,967,625 — 1,967,625
U.S. government debt securities— 519,432,904 — 519,432,904
Mutual and registered investment funds380,513,736 — — 380,513,736
Total assets in the fair value hierarchy4,779,768,878 1,116,581,300 — 5,896,350,178 
Investments measured at net asset value (a)
6,701,837,103 
Total investments at fair value$12,598,187,281 
Assets at Fair Value as of December 31, 2024
Level 1Level 2Level 3Total
Cash and cash equivalents$18,472,459 $— $— $18,472,459 
Corporate bonds— 578,350,781 — 578,350,781
Preferred stock5,588,806 906,374 — 6,495,180
Common stock - Marriott International, Inc.1,983,658,937 — — 1,983,658,937
Common stock - others2,424,616,428 107,399 — 2,424,723,827
Foreign government debt securities— 2,662,816 — 2,662,816
U.S. government debt securities— 520,647,825 — 520,647,825
Mutual and registered investment funds298,193,495 — — 298,193,495
Total assets in the fair value hierarchy4,730,530,125 1,102,675,195 — 5,833,205,320 
Investments measured at net asset value (a)
5,717,533,349 
Total investments at fair value$11,550,738,669 
 
(a)In accordance with Subtopic 820-10, certain investments that were measured at NAV 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 line items presented in the Statements of Net Assets available for Benefits.

There were no Level 3 investments at December 31, 2025 and 2024.
The following table summarizes investments for which fair value is measured using NAV per share practical expedient as of December 31, 2025 and 2024. There are no participant redemption restrictions for these investments; the redemption notice period is applicable only to the Plan. As of December 31, 2025 and 2024, there were no unfunded commitments.
December 31, 2025December 31, 2024RedemptionRedemption
 Fair Value  Fair Value Frequency (if currently eligible)Notice Period
Arrowstreet International Equity EAFE CIT Class B$158,557,476 $117,378,902 Daily7 days
Axiom International Small Cap Trust 226,139,489 18,096,670 Daily30 days
Fidelity Contrafund CP Class F829,616,539 744,447,041 Daily30 days
FIAM Emerging Markets Equity Small Cap Commingled38,322,754 29,938,189 Daily30 days
Fidelity Blue Chip Growth Fund353,282,509 333,684,687 Daily30 days
Northern Trust Collective S&P 500 Index Fund -DC866,728,950 775,888,038 Daily30 days
Northern Trust Collective S&P 400 Index Fund - DC20,821,166 24,291,536 Daily30 days
Northern Trust Collective Russell 2000 Index Fund10,293,837 9,427,495 Daily30 days
Northern Trust Collective Russell 1000 Index Fund - DC19,279,841 20,072,185 Daily31 days
Vanguard Target 202028,311,626 23,879,325 Daily60 days
Vanguard Target 2025 767,219,826 742,454,137 Daily60 days
Vanguard Target 2030216,074,761 166,525,657 Daily60 days
Vanguard Target 2035 1,092,162,283 917,745,784 Daily60 days
Vanguard Target 2040150,029,955 98,134,512 Daily60 days
Vanguard Target 2045 962,645,641 789,589,923 Daily60 days
Vanguard Target 2050139,028,044 90,741,392 Daily60 days
Vanguard Target 2055 504,690,716 382,484,586 Daily60 days
Vanguard Target 2060101,971,357 61,841,914 Daily60 days
Vanguard Target 206588,693,892 52,733,203 Daily60 days
Vanguard Target 207028,665,706 13,017,923 Daily60 days
Vanguard Target Retirement Income 299,300,735 305,160,250 Daily60 days
$6,701,837,103 $5,717,533,349