Table:
|  | Amortized Cost | Unrealized Gains | Unrealized Losses | Fair Value |
| --- | --- | --- | --- | --- |
| Current assets: |  |  |  |  |
| Cash | $67,818 | $— | $— | $67,818 |
| Cash equivalents: |  |  |  |  |
| Money market funds | 126,075 | — | — | 126,075 |
| Corporate bonds | 1,000 | — | — | 1,000 |
| Agency bonds | 6,485 | 1 | — | 6,486 |
| Commercial paper | 9,609 | — | (1) | 9,608 |
| Certificates of deposit | 171 | — | — | 171 |
| US treasury securities | 4,749 | — | — | 4,749 |
| Total cash equivalents | 148,089 | 1 | (1) | 148,089 |
| Total cash and cash equivalents | 215,907 | 1 | (1) | 215,907 |
| Short-term investments: |  |  |  |  |
| Corporate bonds | 103,130 | 110 | (7) | 103,233 |
| Agency bonds | 3,966 | 2 | — | 3,968 |
| US treasury securities | 50,703 | 62 | (1) | 50,764 |
| Commercial paper | 23,827 | 1 | — | 23,828 |
| Certificates of deposit | 3,936 | 2 | (1) | 3,937 |
| Asset-backed securities | 15,837 | 12 | — | 15,849 |
| Total short-term investments | 201,399 | 189 | (9) | 201,579 |
| Long-term investments: |  |  |  |  |
| Corporate bonds | 19,407 | 12 | (4) | 19,415 |
| US treasury securities | 19,300 | 25 | — | 19,325 |
| Asset-backed securities | 11,693 | 10 | (1) | 11,702 |
| Strategic investments | 9,750 | — | — | 9,750 |
| Total long-term investments | $60,150 | $47 | $(5) | $60,192 |
Paragraphs:
5. INVESTMENTS
Investments in Marketable Securities
The Company’s investments in available-for-sale marketable securities are made pursuant to its investment policy, which has established guidelines relative to the diversification of the Company’s investments and their maturities, with the principal objective of capital preservation and maintaining liquidity sufficient to meet cash flow requirements.
The following is a summary of investments, including those that meet the definition of a cash equivalent, as of December 31, 2019 (in thousands):
Question:
What percentage of fair value total cash equivalents consist of agency bonds?
Answer: (6485/148089) = 4.38