Company: GHC
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000104889-25-000032
Chunk: 46

Company: Graham Holdings Co
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 46
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5December 31,2024(in thousands)Total cost$231,976 $227,153 Gross unrealized gains684,754 627,760 Gross unrealized losses(15,671)(2,479)Total Fair Value$901,059 $852,434 At March 31, 2025 and December 31, 2024, the Company owned 55,430 shares in Markel Group Inc. (Markel) valued at $103.6 million and $95.7 million, respectively. The Chief Executive Officer of Markel, Mr. Thomas S. Gayner, is a member of the Company’s Board of Directors. As of March 31, 2025, the Company owned 422 Class A and 482,945 Class B shares in Berkshire Hathaway valued at $594.1 million, which exceeded 5% of the Company’s total assets. The Company purchased $4.8 million of marketable equity securities during the first three months of 2025. There were no purchases of marketable equity securities during the first three months of 2024. There were no sales of marketable equity securities during the first three months of 2025 and 2024.Investments in Affiliates.  As of March 31, 2025, the Company’ healthcare subsidiary held investments in several other affiliates that Graham Healthcare Group (GHG) actively manages; GHG held a 40% interest in each of the following affiliates: Residential Home Health Illinois, Residential Hospice Illinois, Mary Free Bed at Home, and Allegheny Health Network Healthcare at Home. For the three months ended March 31, 2025 and 2024, the Company recorded $3.8 million and $4.1 million, respectively, in revenue for services provided to the affiliates of GHG. As of March 31, 2025, the Company held an approximate 18% interest in Intersection Holdings, LLC (Intersection), and accounts for its investment under the equity method. The Company holds two of the ten seats of Intersection’s governing board, which allows the Company to exercise significant influence over Intersection. In April 2023, the Company loaned Intersection $30.0 million, which is repayable over 5 years at an interest rate of 9% per annum. The outstanding balance on this loan was $24.7 million as of March 31, 2025. The loan is repayable by May 2028.As