| Summary of Master Trust's Investments Measured at Fair Value on A Recurring Basis |
The following tables present information about the Master Trust’s investments measured at fair value on a recurring basis at December 31, 2025 and 2024, including the fair value measurements and the levels of inputs used in determining those fair values.
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Assets at Fair Value Measurements as of December 31, 2025 |
|
Description |
|
Total |
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|
Quoted
Market
Prices for
Identical
Assets
(Level 1) |
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Significant
Other
Observable
Inputs
(Level 2) |
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Significant
Unobservable
Inputs
(Level 3) (A) |
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(Thousands) |
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Cash, Cash Equivalents and Short-Term Investments |
|
$ |
80,221 |
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$ |
80,221 |
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$ |
— |
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|
$ |
— |
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Common Stock of Public Service Enterprise Group Incorporated* |
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|
275,664 |
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275,664 |
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— |
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— |
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Mutual Funds |
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715,936 |
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715,936 |
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— |
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— |
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Collective Investment Trusts |
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2,720,750 |
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2,720,750 |
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— |
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— |
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Fixed Income Securities |
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208,141 |
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(11 |
) |
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208,152 |
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— |
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Fidelity BrokerageLink |
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314,391 |
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302,661 |
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11,730 |
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— |
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Total Investment in Master Trust, at fair value |
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$ |
4,315,103 |
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$ |
4,095,221 |
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$ |
219,882 |
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$ |
— |
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Assets at Fair Value Measurements as of December 31, 2024 |
|
Description |
|
Total |
|
|
Quoted
Market
Prices for
Identical
Assets
(Level 1) |
|
|
Significant
Other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) (A) |
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(Thousands) |
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Cash, Cash Equivalents and Short-Term Investments |
|
$ |
75,295 |
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$ |
75,295 |
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$ |
— |
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$ |
— |
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Common Stock of Public Service Enterprise Group Incorporated* |
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306,730 |
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306,730 |
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— |
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— |
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Mutual Funds |
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701,953 |
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701,953 |
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— |
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— |
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Collective Investment Trusts |
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2,324,876 |
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2,324,876 |
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— |
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— |
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Fixed Income Securities |
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181,783 |
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(129 |
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181,912 |
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— |
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Fidelity BrokerageLink |
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272,072 |
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258,217 |
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13,855 |
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— |
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Total Investment in Master Trust, at fair value |
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$ |
3,862,709 |
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$ |
3,666,942 |
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$ |
195,767 |
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$ |
— |
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(A) The Plan's policy is to recognize transfers of investments into or out of Level 3 as of the date of the event or change in circumstances that caused the transfer. For the year ended December 31, 2025, there were no transfers of investments into or out of Level 3. There are no Plan assets requiring the use of Level 3 inputs for the periods presented. * Permitted party-in-interest transactions.
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