Investments in equity securities as of March 31, 2018 and December 31, 2017 are summarized based on the primary industry of the investee in the table below (in millions).


	Cost Basis		Net Unrealized Gains		Fair Value
March 31, 2018 *
Banks, insurance and finance	$	25,986		$ 50,091	$	76,077
Consumer products		38,130		23,864		61,994
Commercial, industrial and other		21,714		13,191		34,905

	$	85,830		$ 87,146	$	172,976

Approximately 68% of the aggregate fair value was concentrated in five companies (American Express Company – $14.1 billion; Apple Inc. – $40.7 billion; Bank of America Corporation – $21.0 billion; The Coca-Cola Company – $17.4 billion and Wells Fargo & Company – $25.2 billion).


	Cost Basis		Net Unrealized Gains		Fair Value
December 31, 2017 *
Banks, insurance and finance	$	25,783		$ 55,026	$	80,809
Consumer products		25,177		25,698		50,875
Commercial, industrial and other		23,716		15,140		38,856

	$	74,676		$ 95,864	$	170,540

Approximately 65% of the aggregate fair value was concentrated in five companies (American Express Company – $15.1 billion; Apple Inc. – $28.2 billion; Bank of America Corporation – $20.7 billion; The Coca-Cola Company – $18.4 billion and Wells Fargo & Company – $29.3 billion).

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


	March 31, 2018		December 31, 2017
Insurance and other	$	166,658	$	164,026
Railroad, utilities and energy *		1,755		1,961
Finance and financial products *		4,563		4,553

	$	172,976	$	170,540

Included in other assets.