| VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS |
VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS Venture capital investments are summarized below: | | | | | | | | | | | | | Nine Months Ended | | September 26, 2026 | | September 27, 2025 | | (in thousands) | | Beginning balance | $ | 125,696 | | | $ | 116,561 | | | Capital contributions | 12,629 | | | 11,655 | | | Distributions | (24,194) | | | (6,153) | | Gains (losses) and impairments | 10,474 | | | (10,277) | | | | | | | Foreign currency translation | (308) | | | 2,804 | | | Ending balance | $ | 124,297 | | | $ | 114,590 | |
The Company also invests, with minority positions, directly in equity of predominantly privately held companies. Strategic investments are summarized below: | | | | | | | | | | | | | Nine Months Ended | | September 26, 2026 | | September 27, 2025 | | (in thousands) | | Beginning balance | $ | 81,276 | | | $ | 101,789 | | | Purchase of investments | 2,000 | | | 3,041 | | | Distributions | (1,063) | | | (2,845) | | Gains (losses) and impairments | (5,979) | | | (23,678) | | | | | | | | | | | Foreign currency translation | (387) | | | 1,738 | | | Reduction for acquisition of entities | (5,623) | | | — | | | Ending balance | $ | 70,224 | | | $ | 80,045 | | | | | | |
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