Company: GHC
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0000104889-25-000053
Chunk: 13

Company: Graham Holdings Co
Filing Date: 2025-06-27
Form: 11-K
Chunk 13
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oted Prices in Active Markets for Identical Items (Level 1) |             |
| Assets:                              |     |            |                         |     |                                                               |             |     |            |                         |     |                                                               |             |
| Mutual funds                         |     | $          |             569,520,506 |     | $                                                             | 569,520,506 |     | $          |             529,004,835 |     | $                                                             | 529,004,835 |
| Berkshire Hathaway common stock      |     |            |              55,163,111 |     |                                                               |  55,163,111 |     |            |              46,676,349 |     |                                                               |  46,676,349 |
| Graham Holdings Company common stock |     |            |               4,318,069 |     |                                                               |   4,318,069 |     |            |               4,210,252 |     |                                                               |   4,210,252 |
| Total                                |     | $          |             629,001,686 |     | $                                                             | 629,001,686 |     | $          |             579,891,436 |     | $                                                             | 579,891,436 |
| Common collective trusts(1)          |     |            |             345,424,320 |     |                                                               |           — |     |            |             274,916,852 |     |                                                               |           — |
| Total financial assets               |     | $          |             974,426,006 |     | $                                                             | 629,001,686 |     | $          |             854,808,288 |     | $                                                             | 579,891,436 |

(1) In accordance with FASB ASC 820, Fair Value Measurement , certain investments that are measured at fair value using net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. As a result, collective investment trusts are classified as a reconciling item in the fair value hierarchy so that the total investments in the fair value hierarchy is consistent with the Plan investments, at fair value on the Statements of Net Assets Available for Benefits.

For assets that are measured using quoted prices in active markets, the total fair value is the published market price per share/unit multiplied by the number of shares/units held.

#### Common/Collective Trusts
The