v3.26.1
Plan Interest in Master Trust
 12 Months Ended
Dec. 31, 2025
EBP 004  
EBP, Master Trust [Line Items]  
Plan’s Interest in Master Trust Plan Interest In Master Trust
The Plan’s investments are included in the investments of the Leidos, Inc. Master Trust. Each participant in the retirement plan directs their investments into the funds within the Master Trust. The Plan’s record keeper maintains supporting records for the purpose of allocating net assets and net gains and losses of each of the investments of the Plans and to each participant’s account based on participant direction. The Master Trust also includes investment assets of the QTC Management, Inc. Retirement Savings Plan, Leidos Biomedical Research Capital Accumulation Plan and the Leidos Biomedical Research Employee Savings Plan.
The following table presents the investments of the Master Trust and the Plan's interest in the Master Trust, as of December 31, 2025 and 2024:
Master Trust BalancesPlan’s Interest in Master Trust Balances
(in thousands)2025202420252024
Mutual funds$975,058 $952,431 $940,991 $924,820 
Leidos Holdings, Inc. common stock904,135 838,435 904,135 838,435 
Collective trusts9,235,568 9,099,674 8,518,573 8,461,450 
Self-directed brokerage fund199,493 162,497 191,610 157,707 
Separately managed account753,524 767,754 712,596 731,017 
     Total investments at fair value12,067,778 11,820,791 11,267,905 11,113,429 
Stable value fund at contract value563,580 650,764 517,826 600,404 
     Total investments$12,631,358 $12,471,555 $11,785,731 $11,713,833 
The following table represents the changes in net assets in the Master Trust for the year ended December 31, 2025:
(in thousands)
2025
Net appreciation in fair value of investments$1,735,906 
Interest and dividend income101,162 
     Total investment income 1,837,068 
Net transfers out of Master Trust
(1,677,265)
Master Trust net assets: 
     Beginning12,471,555 
     Ending$12,631,358 
During 2025, the Plan received an allocation of 94% on the net investment income in the Master Trust. Investment income is allocated to each plan based on the plan’s specific interest attributed to the underlying assets of the Master Trust.