Investments in equity securities as of September 30, 2016 and December 31, 2015 are summarized based on the primary industry of the investee in the table below (in millions).


	Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
September 30, 2016 *
Banks, insurance and finance	$	19,852	$	21,695	$	(173	)	$	41,374
Consumer products		5,149		16,790		—			21,939
Commercial, industrial and other		32,517		7,904		(1,199	)		39,222

	$	57,518	$	46,389	$	(1,372	)	$	102,535

*	Approximately 60% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company – $9.7 billion; Wells Fargo & Company – $22.1 billion; International Business Machines Corporation (“IBM”) – $12.9 billion; and The Coca-Cola Company – $16.9 billion).


	Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
December 31, 2015 *
Banks, insurance and finance	$	20,026	$	27,965	$	(21)	$	47,970
Consumer products		6,867		18,022		(1)		24,888
Commercial, industrial and other		35,417		6,785		(3,238)		38,964

	$	62,310	$	52,772	$	(3,260)	$	111,822

*	Approximately 59% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company – $10.5 billion; Wells Fargo & Company – $27.2 billion; IBM – $11.2 billion; and The Coca-Cola Company – $17.2 billion).

Investments in equity securities are reflected in our Consolidated Balance Sheets as follows (in millions).


	September 30, 2016		December 31, 2015
Insurance and other	$	100,757	$	110,212
Railroad, utilities and energy *		1,476		1,238
Finance and financial products		302		372

	$	102,535	$	111,822

*	Included in other assets.