v3.26.1
PepsiCo Master Trust (Tables)
12 Months Ended
Dec. 31, 2025
EBP 001  
EBP, Master Trust [Line Items]  
Schedule of Master Trust Net Assets
The PepsiCo Master Trust net assets are detailed below by asset category.
December 31, 2025December 31, 2024
(in thousands)
Investments, at fair value:
Cash and cash equivalents$35,269 $29,226 
PepsiCo common stock1,140,476 1,356,452 
Money market fund13,047 14,427 
Fixed income securities273,188 254,101 
Commingled trust funds13,329,006 11,422,930 
Self-directed brokerage931,026 815,394 
15,722,012 13,892,530 
Investments at contract value: fully benefit-responsive synthetic investment contracts
637,540 696,050 
Interest and dividends receivable11,415 12,221 
Other receivables50,907 35,332 
Other liabilities(50,172)(36,261)
Net assets$16,371,702 $14,599,872 
Year ended
December 31, 2025
(in thousands)
Investment gain:
Net appreciation in value of investments* $2,064,772 
Interest and dividends
71,625 
Net investment gain$2,136,397 
* Includes net appreciation of investments at contract value