Investments (Tables)

3 Months Ended

Mar. 31, 2021

Investments [Abstract]

Investments in Marketable Equity Securities

Investments in marketable equity securities consist of the following:

	As of
	March 31, 2021		December 31, 2020
(in thousands)
Total cost	$	280,883	$	232,847
Gross unrealized gains	419,469		340,255
Total Fair Value	$	700,352	$	573,102

Gain (Loss) on Marketable Equity Securities

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

	Three Months Ended   March 31
(in thousands)	2021		2020
Gain (loss) on marketable equity securities, net	$	79,214	$	(100,393)
Less: Net losses in earnings from marketable equity securities sold and donated	—		8,774
Net unrealized gains (losses) in earnings from marketable equity securities still held at the end of the period	$	79,214	$	(91,619)