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FAIR VALUE (Tables)

9 Months Ended

Sep. 27, 2025

FAIR VALUE

Assets measured at fair value

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


		September 27, 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		$	268,544			27,514					$	296,058		$	356,700		$	21,150		$	—		$	377,850
Fixed income funds			5,343			40,859						46,202			5,272			33,076			—			38,348
Treasury securities			345									345			344			—			—			344
Equity securities			17,988						30,500			48,488			16,431			—			26,000			42,431
Alternative investments									4,102			4,102			—			—			4,044			4,044
Mutual funds:
Domestic stock funds			10,592									10,592			9,534			—			—			9,534
International stock funds			796									796			641			—			—			641
Target funds			11									11			10			—			—			10
Bond funds			6									6			6			—			—			6
Alternative funds			492									492			477			—			—			477
Total mutual funds			11,897			—			—			11,897			10,668			—			—			10,668
Total		$	304,117		$	68,373		$	34,602		$	407,092		$	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):


		September 27, 2025									December 28, 2024
					Unrealized									Unrealized
		Cost			Gain (Loss)			Fair Value			Cost			Gain (Loss)			Fair Value
Fixed income		$	46,320		$	(118)		$	46,202		$	39,645		$	(1,297)		$	38,348
Treasury securities			345			—			345			344			—			344
Equity			13,563			4,425			17,988			13,161			3,270			16,431
Mutual funds			8,714			3,123			11,837			8,549			2,064			10,613
Alternative investments			3,407			695			4,102			3,321			723			4,044
Total		$	72,349		$	8,125		$	80,474		$	65,020		$	4,760		$	69,780