| Investments at Fair Value |
The following table presents the Plan’s investments that are measured at fair value on a recurring basis, for each hierarchy level, as of December 31, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | | | | | | Fair Value Measurement Using Input Types | | | | | | | | Level 1 | | Level 2 | | Level 3 | | Other | | Total | | Mutual funds | | $ | 203,564,107 | | | $ | — | | | $ | — | | | $ | — | | | $ | 203,564,107 | | | UGI Common Stock | | 27,365,501 | | | — | | | — | | | — | | | 27,365,501 | | | Brokerage Link | | 17,952,198 | | | — | | | — | | | — | | | 17,952,198 | | | Common collective trust funds (a) | | — | | | — | | | — | | | 306,123,590 | | | 306,123,590 | | | Collective investment trust fund (a) | | — | | | — | | | — | | | 148,622,927 | | | 148,622,927 | | | Total investments | | $ | 248,881,806 | | | $ | — | | | $ | — | | | $ | 454,746,517 | | | $ | 703,628,323 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | | | | | | | Fair Value Measurement Using Input Types | | | | | | | | Level 1 | | Level 2 | | Level 3 | | Other | | Total | | Mutual funds | | $ | 179,350,057 | | | $ | — | | | $ | — | | | $ | — | | | $ | 179,350,057 | | | UGI Common Stock | | 22,487,831 | | | — | | | — | | | — | | | 22,487,831 | | | Brokerage Link | | 15,063,619 | | | — | | | — | | | — | | | 15,063,619 | | | Common collective trust funds (a) | | — | | | — | | | — | | | 262,131,982 | | | 262,131,982 | | | Collective investment trust fund (a) | | — | | | — | | | — | | | 128,962,954 | | | 128,962,954 | | | Total investments | | $ | 216,901,507 | | | $ | — | | | $ | — | | | $ | 391,094,936 | | | $ | 607,996,443 | |
(a) Assets measured at NAV per share (or its equivalent), and are therefore excluded from the fair value hierarchy, and also presented as “Other”. The following tables summarize investments for which fair value is measured using the NAV per share practical expedient as of December 31, 2025 and 2024, respectively: | | | | | | | | | | | | | | | | December 31, 2025 | Fair Value | Unfunded Commitments | Redemption Frequency (if currently eligible) | Redemption Notice Period | | Common collective trust funds | $ | 306,123,590 | | n/a | Daily | 30 days | | Collective investment trust fund | $ | 148,622,927 | | n/a | Daily | 30 days |
| | | | | | | | | | | | | | | | December 31, 2024 | Fair Value | Unfunded Commitments | Redemption Frequency (if currently eligible) | Redemption Notice Period | | Common collective trust funds | $ | 262,131,982 | | n/a | Daily | 30 days | | Collective investment trust fund | $ | 128,962,954 | | n/a | Daily | 30 days |
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