Investments in equity securities (Tables)

3 Months Ended

Mar. 31, 2020

Investments Debt And Equity Securities [Abstract]

Schedule of investments in equity securities

Investments in equity securities as of March 31, 2020 and December 31, 2019 are summarized based on the primary industry of the investee in the tables below (in millions).

	Cost Basis		Net Unrealized Gains/(losses)			Fair Value
March 31, 2020*
Banks, insurance and finance	$	40,845	$	22,046		$	62,891
Consumer products		38,887		45,713			84,600
Commercial, industrial and other		33,517		(226	)		33,291
	$	113,249	$	67,533		$	180,782

* Approximately 69% of the aggregate fair value was concentrated in five companies (American Express Company – $13.0 billion; Apple Inc. – $63.8 billion; Bank of America Corporation – $20.2 billion; The Coca-Cola Company – $17.7 billion and Wells Fargo & Company – $9.9 billion).

	Cost Basis		Net Unrealized Gains		Fair Value
December 31, 2019*
Banks, insurance and finance	$	40,419	$	61,976	$	102,395
Consumer products		38,887		60,747		99,634
Commercial, industrial and other		31,034		14,964		45,998
	$	110,340	$	137,687	$	248,027

* Approximately 67% of the aggregate fair value was concentrated in five companies (American Express Company – $18.9 billion; Apple Inc. – $73.7 billion; Bank of America Corporation – $33.4 billion; The Coca-Cola Company – $22.1 billion and Wells Fargo & Company – $18.6 billion).