INVESTMENTS

For the years ended December 31, 2019 and 2018, the Company had no available-for-sale investments.

Included in other income, net in the accompanying consolidated financial statements is the net realized gain or loss on investments (in thousands):



	Year Ended December 31,
	2019		2018
Gross realized gains:
Debt securities	$	—	$	82
Equity securities and other investments	—		2
Total gain	—		84
Gross realized losses:
Debt securities	—		(16		)
Equity securities and other investments ⁽¹⁾	—		(1,355		)
Total loss	—		(1,371		)
Net realized gain (loss)	$	—	$	(1,287	)

⁽¹⁾Included within this caption for the year ended December 31, 2018 is $1.3 million that is reported in a separate line, impairment loss on unconsolidated affiliate, within the Company’s consolidated statements of operations and comprehensive income or loss for the year then ended.

Other Investments:

Investment in Spigit Holdings Corporation (formerly Mindjet, Inc):

During the year ended December 31, 2018, we recorded an impairment charge of $1.3 million to write down the value of the Company’s investment in Spigit to zero. Additionally, the Company wrote off $1 million in notes and interest receivable from Spigit. In December 2018, Spigit was merged with another unrelated company and PICO received no compensation or obtained any ownership in the newly formed company.