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VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS
 9 Months Ended
Sep. 25, 2021
Equity Method Investments and Joint Ventures [Abstract]  
VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS
Venture capital investments were $157.8 million and $197.1 million as of September 25, 2021 and December 26, 2020, respectively. The Company’s total commitment to the venture capital funds as of September 25, 2021 was $166.2 million, of which the Company funded $109.8 million through that date. The Company received distributions totaling $10.2 million and $6.3 million for the three months ended September 25, 2021 and September 26, 2020, respectively. The Company received distributions totaling $37.7 million and $9.6 million for the nine months ended September 25, 2021 and September 26, 2020, respectively.
The Company recognized net losses on venture capital investments of $10.3 million for the three months ended September 25, 2021 and net gains of $19.9 million for the three months ended September 26, 2020, both of which were driven primarily by publicly-held investments. The Company recognized net losses on venture capital investments of $15.6 million for the nine months ended September 25, 2021, driven by the decrease in the fair value of publicly-held investments offset by increases from private investments, and net gains of $31.6 million for the nine months ended September 26, 2020, driven by both publicly-held and private investments.
The Company also invests, with minority positions, directly in equity of predominantly privately-held companies. Strategic equity investments were $43.4 million and $24.7 million as of September 25, 2021 and December 26, 2020, respectively. The Company recognized insignificant gains and losses for the three and nine months ended September 25, 2021 and September 26, 2020.