Investments (Tables)

9 Months Ended

Sep. 30, 2021

Investments [Abstract]

Investments in Marketable Equity Securities

Investments in marketable equity securities consist of the following:

	As of
	September 30, 2021		December 31, 2020
(in thousands)
Total cost	$	275,825	$	232,847
Gross unrealized gains	489,191		340,255
Gross unrealized losses	(185)		—
Total Fair Value	$	764,831	$	573,102

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)	2021		2020		2021		2020
Gain (loss) on marketable equity securities, net	$	14,069	$	59,364	$	176,981	$	(1,139)
Less: Net losses (gains) in earnings from marketable equity securities sold and donated	411		—		(7,750)		13,382
Net unrealized gains in earnings from marketable equity securities still held at the end of the period	$	14,480	$	59,364	$	169,231	$	12,243