v3.26.1
Master Trust (Tables)
 12 Months Ended
Dec. 31, 2025
EBP 017  
EBP, Investment, Fair Value and NAV [Line Items]  
EBP, Master Trust
The following table presents the Plan’s interest in the Master Trust balance as of December 31, 2025 and 2024 (in thousands):
December 31, 2025December 31, 2024
Master Trust BalancePlan’s Interest in Master Trust BalanceMaster Trust BalancePlan’s Interest in Master Trust Balance
Cash and cash equivalents and short-term investment fund$675,098 $606,689 $724,303 $651,587 
Common and preferred stocks8,447,158 7,605,598 6,934,489 6,232,879 
Common stocks - Lockheed Martin11,373,758 10,589,182 12,097,506 11,258,467 
Common/collective trusts (a)
28,919,660 26,380,818 26,108,226 23,842,794 
Registered investment companies (mutual funds)1,012,735 909,319 718,567 646,229 
Corporate debt securities867,174 779,955 755,451 679,812 
U.S. Government securities662,609 594,991 667,026 599,901 
Other investments (b)
148,008 133,163 130,680 117,723 
Self-directed brokerage account3,390,181 3,179,168 2,842,080 2,662,273 
Total investments at fair value (c)(d)
55,496,381 50,778,883 50,978,328 46,691,665 
Fully benefit-responsive investment contracts at contract value4,887,387 4,374,595 4,991,458 4,482,556 
Plus:
Due from broker for securities sold23,298 21,277 5,003 4,575 
Accrued interest and dividends55,418 50,610 39,222 35,862 
Other receivables (e)
44,842 40,952 67,276 61,512 
Less:
Due to broker for securities purchased (47,874)(43,721)(19,006)(17,378)
Accrued expenses(50,044)(45,703)(77,077)(70,473)
       Other payables (e)
(296)(270)(26)(24)
Total net assets (d)
$60,409,112 $55,176,623 $55,985,178 $51,188,295 
(a)Includes 103-12 investment entities.
(b)Includes auto loans, bank loans, collateralized mortgage obligations, government agencies and credit card loans.
(c)The Plan’s reported total investments at fair value as of December 31, 2025 and 2024 has a variance of $7.8 million and $(7.6) million, respectively, to the reported Interest in Lockheed Martin Corporation Defined Contribution Plans Master Trust of Investments at fair value on the Statements of Net Assets Available for Benefits (see page 3 and 4). These amounts are the net result between certain accruals recorded by either the Master Trust or the Plan separately at year-end.
(d)The total investments at fair value and total net assets on the Master Trust’s balance included $1.7 million and $1.5 million of the Allcomp Inc. 401(k) Profit Sharing Plan balance as of December 31, 2025 and 2024, respectively. Effective April 19, 2022, this Plan became a participating plan in the Master Trust. Since the Plan has less than 100 participants, an audit is not required and accordingly financial statements were not prepared.
(e)Includes unsettled trades, other receivables/payables, market values on foreign currency, other cash positions on futures.
The following table presents the fair value of the assets in the Master Trust by asset category and their level within the fair value hierarchy as of December 31, 2025 (in thousands):
Level 1Level 2 Total 
Cash and cash equivalents and short-term investment fund$18,383 $656,715 $675,098 
Common and preferred stocks8,437,126 10,032 8,447,158 
Common stocks - Lockheed Martin11,373,758 — 11,373,758 
Common/collective trusts (a)
— 28,919,660 28,919,660 
Registered investment companies (mutual funds)832,847 179,888 1,012,735 
Corporate debt securities— 867,174 867,174 
U.S. Government securities— 662,609 662,609 
Other investments (b)
— 148,008 148,008 
Self-directed brokerage account3,390,181 — 3,390,181 
Total investment assets at fair value$24,052,295 $31,444,086 $55,496,381 
Receivables, net25,344 
Fully benefit-responsive investment contracts at contract value4,887,387 
Total net assets$60,409,112 
The following table presents the fair value of the assets in the Master Trust by asset category and their level within the fair value hierarchy as of December 31, 2024 (in thousands):
Level 1Level 2Total
Cash and cash equivalents and short-term investment fund$36,089 $688,214 $724,303 
Common and preferred stocks6,926,943 7,546 6,934,489 
Common stocks - Lockheed Martin12,097,506 — 12,097,506 
Common/collective trusts (a)
— 26,108,226 26,108,226 
Registered investment companies (mutual funds)558,254 160,313 718,567 
Corporate debt securities— 755,451 755,451 
U.S. Government securities— 667,026 667,026 
Other investments (b)
— 130,680 130,680 
Self-directed brokerage account2,842,080 — 2,842,080 
Total investment assets at fair value$22,460,872 $28,517,456 $50,978,328 
Receivables, net15,392 
Fully benefit-responsive investment contracts at contract value4,991,458 
Total net assets$55,985,178 
(a)Includes 103-12 investment entities.
(b)Includes auto loans, bank loans, collateralized mortgage obligations, government agencies and credit card loans.