Investments (Tables)

6 Months Ended

Jun. 30, 2020

Investments [Abstract]

Investments in Marketable Equity Securities

Investments in marketable equity securities consist of the following:

	As of
	June 30, 2020		December 31, 2019
(in thousands)
Total cost	$	212,843	$	282,349
Gross unrealized gains	218,965		302,731
Total Fair Value	$	431,808	$	585,080

Gain (Loss) on Marketable Equity Securities

The net gain (loss) on marketable equity securities comprised the following:

	Three Months Ended   June 30				Six Months Ended   June 30
(in thousands)	2020		2019		2020		2019
Gain (loss) on marketable equity securities, net	$	39,890	$	7,791	$	(60,503)	$	31,857
Less: Net losses (gains) in earnings from marketable equity securities sold and donated	4,608		2		13,382		(2,980)
Net unrealized gains (losses) in earnings from marketable equity securities still held at the end of the period	$	44,498	$	7,793	$	(47,121)	$	28,877