Investments (Tables)

9 Months Ended

Sep. 30, 2020

Investments [Abstract]

Investments in Marketable Equity Securities

Investments in marketable equity securities consist of the following:

	As of
	September 30, 2020		December 31, 2019
(in thousands)
Total cost	$	212,843	$	282,349
Gross unrealized gains	278,329		302,731
Total Fair Value	$	491,172	$	585,080

Gain (Loss) on Marketable Equity Securities

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

	Three Months Ended   September 30				Nine Months Ended   September 30
(in thousands)	2020		2019		2020		2019
Gain (loss) on marketable equity securities, net	$	59,364	$	17,404	$	(1,139)	$	49,261
Less: Net losses (gains) in earnings from marketable equity securities sold and donated	—		61		13,382		(2,919)
Net unrealized gains in earnings from marketable equity securities still held at the end of the period	$	59,364	$	17,465	$	12,243	$	46,342