v3.26.1
Investments
 12 Months Ended
Dec. 31, 2025
EBP 003  
EBP, Master Trust [Line Items]  
Investments Investments
As described in Note 1, the Master Trust was established to hold the assets of the Plan and the 401(k). The Plan and the 401(k) are the only participating plans in the Master Trust. Investment income, realized gains (losses) on sales of investments, unrealized appreciation (depreciation) of investments, other receivables and other liabilities are allocated to the segregated asset portfolios within the Master Trust. In accordance with GAAP, the net change in value from participation in the Master Trust is reported as one line item in the Statement of Changes in Net Assets Available for Benefits and the Plan’s interest in the Master Trust is reported at fair value and contract value in the Statements of Net Assets Available for Benefits.
The net assets available to participating plans in the Master Trust as of December 31, 2025 and 2024 are summarized below:

December 31,
20252024
Master Trust BalancePlan's Interest in Master Trust BalancesMaster Trust BalancePlan's Interest in Master Trust Balances
Assets
Investments, at fair value:
Cash and equivalents(a)
$123,409 $102,974 $23,885 $1,922 
Charter Communications, Inc. common stock(a)
3,438 3,438 5,355 5,355 
Charter Communications, Inc. common stock fund(a)
30,133 — 58,546 — 
Other common stocks(a)
285,444 7,063 458,655 11,598 
Mutual funds(a)
567,416 33,883 459,906 28,757 
Other investments measured at NAV(b)
10,384,219 1,499,361 8,811,536 1,406,828 
Total investments, at fair value11,394,059 1,646,719 9,817,883 1,454,460 
Investments, at contract value384,580 16,656 384,731 15,985 
Other receivables4,528 308 7,756 1,039 
Total assets11,783,167 1,663,683 10,210,370 1,471,484 
Liabilities
Other liabilities8,002 349 8,056 352 
Total liabilities8,002 349 8,056 352 
Net assets available to participating plans$11,775,165 $1,663,334 $10,202,314 $1,471,132 

(a)The Master Trust's investment assets are classified within Level 1 of the fair value hierarchy, with the exception of Charter Communications, Inc. common stock fund that has a small portion held in a money market fund to provide liquidity and to accommodate daily transactions and which is classified within Level 2 of the fair value hierarchy. See Note 4.
(b)In accordance with Subtopic 820-10, certain investments that were measured at NAV per share (or its equivalent) were not classified in the fair value hierarchy. See Note 5.
The following are the changes in net assets for the Master Trust for the year ended December 31, 2025:

Year ended December 31,
2025
Net appreciation in fair value of investments$1,634,950 
Interest and dividends26,529 
Net investment gain1,661,479 
Administrative and investment expenses8,862 
Transfers in1,169,883 
Transfers out1,249,649 
Net increase1,572,851 
Net assets available to participating plans, beginning of year10,202,314 
Net assets available to participating plans, end of year$11,775,165 

The proportionate share of Master Trust net investment income allocated to the Plan for the year ended December 31, 2025 totaled $244.9 million, excluding administrative expenses (see Note 11). As of December 31, 2025, the beneficial interest of the Plan in the Master Trust was approximately 14%.