
	July 2, 2022		April 2, 2022
Available-for-sale debt securities	$	17,278	$	17,760
Marketable equity securities	14,583		16,780
Non-marketable equity investments	20,818		20,479
	52,679		55,019
Less short-term investments	(15,864)		(20,086)
	$	36,815	$	34,933

Investments in marketable equity securities consist of investments in the common stock of industrial and other companies.

Our non-marketable equity investments include investments in community-based initiatives that buy and sell our homes and provide home-only financing to residents of certain manufactured home communities and other distribution operations.

The amortized cost and fair value of our investments in available-for-sale debt securities, by security type are shown in the table below (in thousands):


	July 2, 2022				April 2, 2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Residential mortgage-backed securities	$	1,574	$	1,504	$	1,668	$	1,613
State and political subdivision debt securities	7,480		7,232		10,100		9,906
Corporate debt securities	8,876		8,542		6,502		6,241
	$	17,930	$	17,278	$	18,270	$	17,760

The amortized cost and fair value of our investments in available-for-sale debt securities, by contractual maturity, are shown in the table below (in thousands). Expected maturities differ from contractual maturities as borrowers may have the right to call or prepay obligations, with or without penalties.


	July 2, 2022
	Amortized Cost		Fair Value
Due in less than one year	$	1,295	$	1,281
Due after one year through five years	13,158		12,566
Due after five years through ten years	1,258		1,269
Due after ten years	645		658
Mortgage-backed securities	1,574		1,504
	$	17,930	$	17,278

There were no gross gains or losses realized on the sale of available-for-sale debt securities during the three months ended July 2, 2022 or July 3, 2021.

Net investment gains and losses on marketable equity securities were as follows (in thousands):


	Three Months Ended
		July 2, 2022		July 3, 2021
Marketable equity securities
Net (loss) gain recognized during the period		$	(2,342)	$	1,696
Less: Net loss (gain) recognized on securities sold during the period		74		(136)
Unrealized (loss) gain recognized during the period on securities still held		$	(2,268)	$	1,560