During the six months ended June 30, 2024, the Company sold its remaining 14.2 million shares of common stock of Albertsons Companies Inc. (“ACI”), generating net proceeds of $299.1 million. For tax purposes, the Company recognized a long-term capital gain of $288.7 million and elected to retain the proceeds from the sale of ACI common stock, resulting in estimated federal and state income tax expense of $72.9 million during the six months ended June 30, 2024.

The portion of unrealized (losses)/gains on marketable securities for the three and six months ended June 30, 2025 and 2024 that related to marketable securities still held at the reporting date (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Loss on marketable securities, net	$	(2	)	$	(6	)	$	(11	)	$	(27,692	)
Less: Net (gain)/loss recognized related to marketable securities sold		-			(24	)		(2	)		27,671
Unrealized loss related to marketable securities still held	$	(2	)	$	(30	)	$	(13	)	$	(21	)