Net gain / (loss) on investments included in Gains / losses from operations in the Company’s condensed consolidated interim statements of operations consists of the following:

•Net realized gains / (losses) related to sales of investments were $13.8 million and $39.9 million for the three and six months ended June 30, 2026, respectively, and $(32.4) million and $120.6 million for the three and six months ended June 30, 2025, respectively.

•Net unrealized gains / (losses) related to investments were $(128.4) million and $(367.0) million for the three and six months ended June 30, 2026, respectively, and $227.8 million and $(58.4) million for the three and six months ended June 30, 2025, respectively.

The following table presents investments for which the measurement alternative has been elected. These investments have been valued at cost less impairment and where applicable at observable transaction prices based on orderly transactions for the identical or similar investments of the same issuer.


			Impairment				Upward Adjustments
(in thousands)	Carrying Value		Period to date		Cumulative		Period to date		Cumulative
June 30, 2026	$	143,266	$	(8,210)	$	(80,118)	$	2,730	$	84,649
December 31, 2025	$	159,239	$	(19,178)	$	(73,207)	$	18,727	$	81,919