Investment gains/losses in the third quarter and first nine months of 2020 and 2019 are summarized as follows (in millions).

	Third Quarter						First Nine Months
	2020			2019			2020			2019
Equity securities:
Unrealized investment gains during the period on securities held at the end of the period	$	30,837		$	10,489		$	16,458		$	39,546
Investment gains/losses on securities sold during the period		1,330			135			(13,901	)		464
		32,167			10,624			2,557			40,010
Fixed maturity securities:
Gross realized gains		12			59			53			71
Gross realized losses		(2	)		(2	)		(22	)		(18	)
Other		(552	)		11			(556	)		16
	$	31,625		$	10,692		$	2,032		$	40,079

Equity securities gains and losses include unrealized gains and losses from changes in fair values during the period on equity securities we still own, as well as gains and losses on securities we sold during the period. As reflected in the Consolidated Statements of Cash Flows, we received proceeds from sales of equity securities of approximately $28.6 billion in the first nine months of 2020 and $7.1 billion in the first nine months of 2019. In the preceding table, investment gains/losses on equity securities sold during the period reflect the difference between the sales proceeds and the fair value of the equity securities sold at the beginning of the applicable quarterly or annual period or, if later, the purchase date. Our taxable gains/losses on equity securities sold are generally the difference between the proceeds from sales and original cost. Taxable gains were $3.9 billion in the third quarter and $666 million in first nine months of 2020. Taxable gains were $609 million in the third quarter and $1.96 billion in first nine months of 2019.