Investments in equity securities as of June 30, 2017 and December 31, 2016 are summarized based on the primary industry of the investee in the table below (in millions).


	Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
June 30, 2017 *
Banks, insurance and finance	$	20,887	$	32,754	$	—		$	53,641
Consumer products		19,495		22,267		—			41,762
Commercial, industrial and other		31,540		10,946		(776	)		41,710

	$	71,922	$	65,967	$	(776	)	$	137,113

Approximately 62% of the aggregate fair value was concentrated in the equity securities of five companies: American Express Company - $12.8 billion, Apple Inc. - $19.4 billion, The Coca-Cola Company - $17.9 billion, International Business Machines Corporation (“IBM”) - $8.3 billion and Wells Fargo & Company - $27.3 billion.


	Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
December 31, 2016*
Banks, insurance and finance	$	19,852	$	30,572	$	—		$	50,424
Consumer products		10,657		16,760		(9	)		27,408
Commercial, industrial and other		35,868		9,033		(701	)		44,200

	$	66,377	$	56,365	$	(710	)	$	122,032

Approximately 62% of the aggregate fair value was concentrated in the equity securities of five companies: American Express Company - $11.2 billion, Apple Inc. - $7.1 billion, The Coca-Cola Company - $16.6 billion, IBM - $13.5 billion and Wells Fargo & Company - $27.6 billion.

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


	June 30, 2017		December 31, 2016
Insurance and other	$	135,355	$	120,471
Railroad, utilities and energy *		1,380		1,186
Finance and financial products		378		375

	$	137,113	$	122,032

Included in other assets.