Table:
|  | Amortized Cost | Unrealized Gains | Unrealized Losses | Fair Value |
| --- | --- | --- | --- | --- |
|  |  | (U.S. $ in thousands) |  |  |
| Debt Investments |  |  |  |  |
| Marketable debt securities |  |  |  |  |
| U.S. treasury securities | $101,563 | $203 | $(7) | 101,759 |
| Agency securities | 26,936 | 33 | (3) | 26,966 |
| Certificates of deposit and time deposits | 24,126 | — | — | 24,126 |
| Commercial paper | 94,035 | — | — | 94,035 |
| Corporate debt securities | 201,552 | 292 | (24) | 201,820 |
| Total debt investments | 448,212 | 528 | (34) | 448,706 |
| Equity Investments |  |  |  |  |
| Marketable equity securities | 20,270 | 38,662 | — | 58,932 |
| Non-marketable equity securities | 3,000 | — | — | 3,000 |
| Total equity investments | 23,270 | 38,662 | — | 61,932 |
| Total investments | $471,482 | $39,190 | $(34) | $510,638 |
Paragraphs:
Investments
As of June 30, 2019, the Group’s investments consisted of the following:
As of June 30, 2019, the Group had $445.0 million of investments which were classified as short-term investments on the Group’s consolidated statements of financial position. Additionally, the Group had marketable equity securities totaling $58.9 million, non-marketable equity securities totaling $3.0 million, and certificates of deposit and time deposits totaling $3.7 million which were classified as long-term and were included in other non-current assets on the Group’s consolidated statements of financial position.
Question:
Based on amortized cost, what is the percentage constitution of total equity investments among the total investments?
Answer: 23270/471482 = 4.94