Note 5. Investments in equity securities

Investments in equity securities as of June 30, 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
June 30, 2018 *
Banks, insurance and finance	$	27,003	$	50,770	$ 77,773
Consumer products		40,199		28,502	68,701
Commercial, industrial and other		20,256		12,999	33,255

	$	87,458	$	92,271	$ 179,729

* Approximately 70% of the aggregate fair value was concentrated in five companies (American Express Company – $14.9 billion; Apple Inc. – $47.2 billion; Bank of America Corporation – $19.7 billion; The Coca-Cola Company – $17.5 billion and Wells Fargo & Company – $26.4 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).
			June 30, 2018		December 31, 2017
Insurance and other			$	174,033	$ 164,026
Railroad, utilities and energy *				1,364	1,961
Finance and financial products *				4,332	4,553

			$	179,729	$ 170,540

Included in other assets.