v3.26.1
Investments
 12 Months Ended
Dec. 31, 2025
EBP 333  
EBP, Master Trust [Line Items]  
Investments Investments
The Plan’s share of changes in the Master Trust and the value of the Master Trust have been reported to the Plan by the trustee as having been determined through the use of fair values for all investments. The divided interest of each Plan in the Master Trust is increased or decreased (as the case may be):
(i)for the entire amount of every contribution received on behalf of the Plan, every benefit payment, or other expense attributable solely to such Plan, and every other transaction relating only to such Plan; and
(ii)for accrued income, gain or loss, and administrative expense attributable solely to such Plan.
The following table presents the investments held by the Master Trust and the Plan's interest in each of those investments at fair value as of December 31, 2025 and 2024:

Master TrustPlan's Interest
2025202420252024
NVR, Inc. common stock$1,256,922 $1,463,267 $219,834 $252,978 
Investments in registered investment companies309,745 252,895 271,135 212,852 
Investments in common/collective trusts660,462 569,743 609,328 525,749 
Self-directed brokerage accounts38,321 29,501 29,202 20,951 
Cash111 117 85 89 
    Total$2,265,561 $2,315,523 $1,129,584 $1,012,619 

Net investment gain for the Master Trust and the Plan's portion for the year ended December 31, 2025 was as follows:
Master TrustPlan's Interest
Net investment gain:
    Net (depreciation) appreciation in fair value of investments$(7,991)$112,976 
    Dividend income9,024 7,334 
        Net investment gain in Master Trust$1,033 $120,310 

The investment gain allocation variance between the PSP and ESOP is driven primarily by the investment mix within the respective plans. The ESOP requires holdings to be predominately invested in NVR, Inc. common stock;
whereas the PSP has no similar requirements and thus holdings within the PSP are diversified among multiple investments.