The following tables set forth by level, within the fair value hierarchy, the Plan’s non-Master Trust investments at fair value as of December 31, 2025 and 2024:


	Investments at Fair Value as of December 31, 2025
	Level 1		Level 2		Level 3		Total
Money market funds	$	136,705,397	$	—	$	—	$	136,705,397
Mutual funds	6,244,246,670		—		—		6,244,246,670
Collective investment funds	—		50,945,912,528		—		50,945,912,528
Common and preferred stocks	7,530,127,312		—		—		7,530,127,312

Total non-Master Trust investments	$	13,911,079,379	$	50,945,912,528	$	—	$	64,856,991,907

	Investments at Fair Value as of December 31, 2024
	Level 1		Level 2		Level 3		Total
Money market funds	$	166,780,638	$	—	$	—	$	166,780,638
Mutual funds	5,867,729,542		—		—		5,867,729,542
Collective investment funds	—		43,908,119,299		—		43,908,119,299
Common and preferred stocks	6,598,908,145		—		—		6,598,908,145

Total non-Master Trust investments	$	12,633,418,325	$	43,908,119,299	$	—	$	56,541,537,624

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

- Definition

Tabular disclosure of fair value of investment held by employee stock purchase, saving, or similar plan (employee benefit plan (EBP)), including, but not limited to, fair value measured at net asset value per share as practical expedient (NAV).

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+ Details