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FAIR VALUE (Tables)

6 Months Ended

Jun. 28, 2025

FAIR VALUE

Assets measured at fair value

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


		June 28, 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		$	128,811			27,615			—		$	156,426		$	356,700		$	21,150		$	—		$	377,850
Fixed income funds			5,287			36,356			—			41,643			5,272			33,076			—			38,348
Treasury securities			344			—			—			344			344			—			—			344
Equity securities			16,940			—			30,500			47,440			16,431			—			26,000			42,431
Alternative investments			—			—			4,064			4,064			—			—			4,044			4,044
Mutual funds:
Domestic stock funds			9,838			—			—			9,838			9,534			—			—			9,534
International stock funds			742			—			—			742			641			—			—			641
Target funds			10			—			—			10			10			—			—			10
Bond funds			6			—			—			6			6			—			—			6
Alternative funds			477			—			—			477			477			—			—			477
Total mutual funds			11,073			—			—			11,073			10,668			—			—			10,668
Total		$	162,455		$	63,971		$	34,564		$	260,990		$	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):


		June 28, 2025									December 28, 2024
					Unrealized									Unrealized
		Cost			Gain (Loss)			Fair Value			Cost			Gain (Loss)			Fair Value
Fixed income		$	42,459		$	(816)		$	41,643		$	39,645		$	(1,297)		$	38,348
Treasury securities			344			—			344			344			—			344
Equity			13,399			3,541			16,940			13,161			3,270			16,431
Mutual funds			8,548			2,469			11,017			8,549			2,064			10,613
Alternative investments			3,378			686			4,064			3,321			723			4,044
Total		$	68,128		$	5,880		$	74,008		$	65,020		$	4,760		$	69,780