| Assets measured at fair value |
Assets measured at fair value are as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | September 26, 2026 | | December 27, 2025 | | | Quoted | | Prices with | | | | | | | | Quoted | | Prices with | | | | | | | | | Prices in | | Other | | | Prices with | | | | | Prices in | | Other | | | Prices with | | | | | | Active | | Observable | | | Unobservable | | | | | Active | | Observable | | | Unobservable | | | | | | Markets | | Inputs | | | Inputs | | | | | Markets | | Inputs | | | Inputs | | | | | | (Level 1) | | (Level 2) | | | (Level 3) | | Total | | (Level 1) | | (Level 2) | | | (Level 3) | | Total | Money market funds | | $ | 143,732 | | $ | 7,022 | | $ | — | | $ | 150,754 | | $ | 182,051 | | $ | 26,450 | | $ | — | | $ | 208,501 | Fixed income funds | | | 4,573 | | | 55,048 | | | — | | | 59,621 | | | 5,365 | | | 44,227 | | | — | | | 49,592 | Treasury securities | | | 346 | | | — | | | — | | | 346 | | | 345 | | | — | | | — | | | 345 | Equity securities | | | 20,889 | | | — | | | 27,376 | | | 48,265 | | | 18,492 | | | — | | | 28,000 | | | 46,492 | Alternative investments | | | — | | | — | | | 4,474 | | | 4,474 | | | — | | | — | | | 4,186 | | | 4,186 | Mutual funds: | | | | | | | | | | | | | | | | | | | | | | | | | Domestic stock funds | | | 12,099 | | | — | | | — | | | 12,099 | | | 10,436 | | | — | | | — | | | 10,436 | International stock funds | | | 922 | | | — | | | — | | | 922 | | | 816 | | | — | | | — | | | 816 | Target funds | | | 12 | | | — | | | — | | | 12 | | | 11 | | | — | | | — | | | 11 | Bond funds | | | 6 | | | — | | | — | | | 6 | | | 6 | | | — | | | — | | | 6 | Alternative funds | | | — | | | — | | | — | | | — | | | 490 | | | — | | | — | | | 490 | Total mutual funds | | | 13,039 | | | — | | | — | | | 13,039 | | | 11,759 | | | — | | | — | | | 11,759 | Total | | $ | 182,579 | | $ | 62,070 | | $ | 31,850 | | $ | 276,499 | | $ | 218,012 | | $ | 70,677 | | $ | 32,186 | | $ | 320,875 |
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| Available for sale investment portfolio |
Ardellis’ available for sale investment portfolio, including funds held with the State of Michigan, consists of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | September 26, 2026 | | December 27, 2025 | | | | | Unrealized | | | | | | Unrealized | | | | | Cost | | Gain (Loss) | | Fair Value | | Cost | | Gain | | Fair Value | Fixed income | | $ | 60,559 | | $ | (979) | | $ | 59,580 | | $ | 49,342 | | $ | 209 | | $ | 49,551 | Treasury securities | | | 346 | | | — | | | 346 | | | 345 | | | — | | | 345 | Equity | | | 15,525 | | | 5,364 | | | 20,889 | | | 14,028 | | | 4,464 | | | 18,492 | Mutual funds | | | 8,865 | | | 4,105 | | | 12,970 | | | 8,545 | | | 3,152 | | | 11,697 | Alternative investments | | | 3,524 | | | 950 | | | 4,474 | | | 3,436 | | | 750 | | | 4,186 | Total | | $ | 88,819 | | $ | 9,440 | | $ | 98,259 | | $ | 75,696 | | $ | 8,575 | | $ | 84,271 |
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