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FAIR VALUE (Tables)

3 Months Ended

Mar. 29, 2025

FAIR VALUE

Assets measured at fair value

Assets measured at fair value are as follows (in thousands):


		March 29, 2025												December 28, 2024
		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		$	80,500		$	39,428		$	—		$	119,928		$	356,700		$	21,150		$	—		$	377,850
Fixed income funds			5,256			33,990			—			39,246			5,272			33,076			—			38,348
Treasury securities			344			—			—			344			344			—			—			344
Equity securities			16,319			—			28,500			44,819			16,431			—			26,000			42,431
Alternative investments			—			—			4,034			4,034			—			—			4,044			4,044
Mutual funds:
Domestic stock funds			9,267			—			—			9,267			9,534			—			—			9,534
International stock funds			665			—			—			665			641			—			—			641
Target funds			10			—			—			10			10			—			—			10
Bond funds			6			—			—			6			6			—			—			6
Alternative funds			480			—			—			480			477			—			—			477
Total mutual funds			10,428			—			—			10,428			10,668			—			—			10,668
Total		$	112,847		$	73,418		$	32,534		$	218,799		$	389,415		$	54,226		$	30,044		$	473,685

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):


		March 29, 2025									December 28, 2024
					Unrealized									Unrealized
		Cost			Gain (Loss)			Fair Value			Cost			Gain (Loss)			Fair Value
Fixed income		$	39,913		$	(667)		$	39,246		$	39,645		$	(1,297)		$	38,348
Treasury securities			344			—			344			344			—			344
Equity			13,456			2,863			16,319			13,161			3,270			16,431
Mutual funds			8,549			1,823			10,372			8,549			2,064			10,613
Alternative investments			3,349			685			4,034			3,321			723			4,044
Total		$	65,611		$	4,704		$	70,315		$	65,020		$	4,760		$	69,780