Investments (Tables)

9 Months Ended

Sep. 30, 2023

The following tables summarize our investments as of September 30, 2023 and December 31, 2022 (in thousands):


	September 30, 2023
	Cost		Unrealized Gains		Unrealized Losses		Carrying Amount
Publicly traded companies	$	197,822	$	41,225	$	(109,461)	$	129,586
Entities that report NAV	492,151		191,378		(24,740)		658,789
Entities that do not report NAV:
Entities with observable price changes	104,105		78,845		(1,224)		181,726
Entities without observable price changes	387,755		—		—		387,755
Investments accounted for under the equity method	N/A		N/A		N/A		73,910
Total investments	$	1,181,833	$	311,448	$	(135,425)	$	1,431,766


	December 31, 2022
	Cost		Unrealized Gains		Unrealized Losses		Carrying Amount
Publicly traded companies	$	210,986	$	96,271	$	(100,118)	$	207,139
Entities that report NAV	452,391		315,071		(7,710)		759,752
Entities that do not report NAV:
Entities with observable price changes	100,296		95,062		(1,574)		193,784
Entities without observable price changes	388,940		—		—		388,940
Investments accounted for under the equity method	N/A		N/A		N/A		65,459
Total investments	$	1,152,613	$	506,404	$	(109,402)	$	1,615,074

Schedule of net investment income

Our investment loss for the three and nine months ended September 30, 2023 and 2022 consisted of the following (in thousands):


	Three Months Ended September 30,					Nine Months Ended September 30,
	2023			2022		2023			2022
Realized (losses) gains	$	(3,470)	(1)	$	24,210	$	16,903	(1)	$	75,971
Unrealized losses	(77,202)			(56,515)		(220,954)			(388,076)
Investment loss	$	(80,672)		$	(32,305)	$	(204,051)		$	(312,105)

(1)Consists of realized gains of $25.0 million and $68.4 million, offset by impairment charges of $28.5 million and $51.5 million during the three and nine months ended September 30, 2023, respectively.