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Investments in Marketable Securities
 12 Months Ended
Dec. 31, 2022
Marketable Securities [Abstract]  
Investments in Marketable Securities Investments in Marketable Securities
Equity Securities
The following table summarizes the cost, gross unrealized gains, gross unrealized losses, and fair value of investments in equity securities:
December 31,
 20212022
Cost$59.1 $394.4 
Unrealized gains8.1 59.9 
Unrealized losses(2.7)(6.4)
Fair value$64.5 $447.9 
As of December 31, 2022, investments in equity securities include ordinary shares of EQT AB (“EQT”), a public company listed on Nasdaq Stockholm (EQT.ST) (see Note 10), with a fair value of $405.1 million. Between January 1, 2023 and February 15, 2023, the Company has sold $196.0 million of EQT ordinary shares.

As of December 31, 2021 and 2022, investments in equity securities include consolidated Affiliate sponsored investment products with fair values of $28.9 million and $23.5 million, respectively.

For the year ended December 31, 2022, the Company recorded realized and unrealized gains on EQT ordinary shares of $43.8 million and $57.9 million, respectively.
Debt Securities
The following table summarizes the cost, gross unrealized losses, and fair value of investments in U.S. Treasury Notes classified as available-for-sale, of which $100.7 million mature in 2023 and $150.3 million mature in 2024, and other debt securities classified as trading:
 Available-for-SaleTrading
December 31, 2021December 31, 2022December 31, 2021December 31, 2022
Cost$— $252.3 $14.1 $19.7 
Unrealized losses— (1.3)(0.1)(1.7)
   Fair value$— $251.0 $14.0 $18.0 
As of December 31, 2021 and 2022, investments in debt securities classified as trading include consolidated Affiliate sponsored investment products with fair values of $14.0 million and $18.0 million, respectively.