| Schedule of Company's investing portfolio |
The following is a summary of the Company’s investing portfolio (in thousands):
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AS OF JUNE 30, 2026 |
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UNREALIZED |
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COST |
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GAINS |
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LOSSES |
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FAIR VALUE |
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Marketable securities: |
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Maturities within one year: |
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U.S. treasury securities |
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$ |
397,839 |
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$ |
50 |
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$ |
(633 |
) |
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$ |
397,256 |
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Debt securities issued by U.S. government agencies |
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66,501 |
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5 |
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(57 |
) |
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66,449 |
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Commercial paper |
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106,327 |
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— |
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(106 |
) |
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106,221 |
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Corporate debt securities |
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296,899 |
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7 |
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(477 |
) |
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296,429 |
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Total maturities within one year |
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867,566 |
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62 |
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(1,273 |
) |
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866,355 |
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Maturities between one and two years: |
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U.S. treasury securities |
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$ |
239,720 |
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$ |
— |
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$ |
(1,126 |
) |
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$ |
238,594 |
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Debt securities issued by U.S. government agencies |
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4,589 |
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— |
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(35 |
) |
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4,554 |
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Corporate debt securities |
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78,926 |
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11 |
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(142 |
) |
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78,795 |
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Total maturities between one and two years |
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323,235 |
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11 |
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(1,303 |
) |
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321,943 |
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Total marketable securities |
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$ |
1,190,801 |
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$ |
73 |
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$ |
(2,576 |
) |
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$ |
1,188,298 |
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AS OF DECEMBER 31, 2025 |
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UNREALIZED |
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COST |
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GAINS |
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LOSSES |
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FAIR VALUE |
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Marketable securities: |
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Maturities within one year: |
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U.S. treasury securities |
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$ |
221,182 |
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$ |
430 |
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$ |
— |
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$ |
221,612 |
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Debt securities issued by U.S. government agencies |
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127,796 |
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324 |
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— |
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128,120 |
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Commercial paper |
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69,534 |
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22 |
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— |
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69,556 |
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Corporate debt securities |
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179,230 |
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136 |
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(11 |
) |
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179,355 |
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Total maturities within one year |
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597,742 |
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912 |
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(11 |
) |
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598,643 |
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Maturities between one and two years: |
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U.S. treasury securities |
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$ |
128,396 |
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$ |
149 |
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$ |
— |
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$ |
128,545 |
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Debt securities issued by U.S. government agencies |
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14,580 |
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16 |
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— |
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14,596 |
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Corporate debt securities |
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29,583 |
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16 |
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(10 |
) |
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29,589 |
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Total maturities between one and two years |
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172,559 |
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181 |
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(10 |
) |
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172,730 |
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Total marketable securities |
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$ |
770,301 |
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$ |
1,093 |
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$ |
(21 |
) |
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$ |
771,373 |
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