Investments in equity securities (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of investments in equity securities

Investments in equity securities are summarized as follows (in millions).

	Cost Basis		Net Unrealized Gains		Fair Value
March 31, 2024*
Banks, insurance and finance	$	28,513	$	64,299	$	92,812
Consumer products		29,214		134,364		163,578
Commercial, industrial and other		46,026		33,448		79,474
	$	103,753	$	232,111	$	335,864

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* Approximately 75% of the aggregate fair value was concentrated in five companies (American Express Company – $34.5 billion; Apple Inc. – $135.4 billion; Bank of America Corporation – $39.2 billion; The Coca-Cola Company – $24.5 billion and Chevron Corporation – $19.4 billion).

	Cost Basis		Net Unrealized Gains		Fair Value
December 31, 2023*
Banks, insurance and finance	$	27,136	$	51,176	$	78,312
Consumer products		34,248		166,895		201,143
Commercial, industrial and other		48,032		26,355		74,387
	$	109,416	$	244,426	$	353,842

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* Approximately 79% of the aggregate fair value was concentrated in five companies (American Express Company – $28.4 billion; Apple Inc. – $174.3 billion; Bank of America Corporation – $34.8 billion; The Coca-Cola Company – $23.6 billion and Chevron Corporation – $18.8 billion).