The following table presents the Plan’s investments at fair value (in thousands) as of December 31, 2025 and 2024 by level of the fair value hierarchy. No investments were categorized in Level 3 of the hierarchy as of December 31, 2025 and 2024.


	2025						2024
	Level 1		Level 2		Total		Level 1		Level 2		Total
Valero common stock	$	417,715	$	—	$	417,715	$	353,747	$	—	$	353,747
Common/collective trusts	—		1,172,897		1,172,897		—		1,026,971		1,026,971
Mutual funds	1,142,820		—		1,142,820		1,012,348		—		1,012,348
Interest-bearing cash	50,572		—		50,572		64,348		—		64,348
Self-directed investments	1,085,386		—		1,085,386		879,809		—		879,809


Investments at fair value	$	2,696,493	$	1,172,897	$	3,869,390	$	2,310,252	$	1,026,971	$	3,337,223

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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- Definition

Tabular disclosure of fair value of investment held by employee stock purchase, saving, or similar plan (employee benefit plan (EBP)), including, but not limited to, fair value measured at net asset value per share as practical expedient (NAV).

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