v3.25.2
Investments (Tables)
 6 Months Ended
Jun. 30, 2025
Investments [Abstract]  
Investments in Marketable Equity Securities Investments in marketable equity securities consist of the following:
  As of
June 30,
2025		December 31,
2024
(in thousands)
Total cost
$231,976 $227,153 
Gross unrealized gains
663,867 627,760 
Gross unrealized losses(6,328)(2,479)
Total Fair Value
$889,515 $852,434 
(Loss) Gain on Marketable Equity Securities
The net (loss) gain on marketable equity securities comprised the following:

Three Months Ended 
 June 30

Six Months Ended 
 June 30
(in thousands)
2025202420252024
(Loss) gain on marketable equity securities, net$(11,543)$19,628 $32,258 $123,780 
Less: Net gains in earnings from marketable equity securities donated— (102)— (102)
Net unrealized (loss) gains in earnings from marketable equity securities still held at the end of the period
$(11,543)

$19,526 

$32,258 $123,678