Investments were as follows as of March 31, 2025 and December 31, 2024:


			Gross		Gross
			Unrealized		Unrealized			Fair		Carrying
Description	Cost		Gains		Losses			Value		Value
	(in thousands)
March 31, 2025
Nuclear decommissioning trust (1)
Debt securities	$	109,543	$	—	$	(13,327	)	$	96,216	$	96,216
Equity securities		95,371		103,146		(6,397	)		192,120		192,120
Cash and other		488		—		—			488		488
Total Nuclear decommissioning trust	$	205,402	$	103,146	$	(19,724	)	$	288,824	$	288,824

Other
Equity securities	$	61	$	15	$	—		$	76	$	76
Non-marketable equity investments		2,141		2,182		—			4,323		2,141
Total Other	$	2,202	$	2,197	$	—		$	4,399	$	2,217
										$	291,041
December 31, 2024
Nuclear decommissioning trust (1)
Debt securities	$	108,556	$	—	$	(14,958	)	$	93,598	$	93,598
Equity securities		95,731		107,329		(4,067	)		198,993		198,993
Cash and other		50		—		—			50		50
Total Nuclear decommissioning trust	$	204,337	$	107,329	$	(19,025	)	$	292,641	$	292,641

Other
Equity securities	$	83	$	25	$	—		$	108	$	108
Non-marketable equity investments		2,141		2,164		—			4,305		2,141
Total Other	$	2,224	$	2,189	$	—		$	4,413	$	2,249
										$	294,890

(1)

Investments in the nuclear decommissioning trust are restricted for the use of funding our share of the asset retirement obligations of the future decommissioning of North Anna. See Note 3 of the Notes to Consolidated Financial Statements in our 2024 Annual Report on Form 10-K. Unrealized gains and losses on investments held in the nuclear decommissioning trust are deferred as a regulatory liability or regulatory asset, respectively.