Note 3 – Investments

The following is a summary of the estimated fair value of short-term investments classified as trading securities held at September 29, 2018 and December 31, 2017.



	September 29,		December 31,
(Millions of dollars)	2018		2017
Domestic equity securities	$	812	$	752
Domestic debt securities held in mutual funds/ETFs/U.S. Treasuries		399		439
Foreign equity securities		305		319
Collateralized loan obligations		31		29
High yield securities		21		21
Term deposits		10		—
Money market funds held in trading accounts		7		10
Other trading securities		5		6
Total trading short-term investments	$	1,590	$	1,576

Seaboard had $107 million of equity securities denominated in foreign currencies at September 29, 2018, with $43 million in euros, $24 million in Japanese yen, $20 million in British pounds, $6 million in Swiss francs and the remaining $14 million in various other currencies. At December 31, 2017, Seaboard had $114 million of equity securities denominated in foreign currencies, with $48 million in euros, $25 million in Japanese yen, $20 million in British pounds, $6 million in Swiss francs and the remaining $15 million in various other currencies. Also, term deposits are denominated in the West African franc.

The change in unrealized gains related to trading securities still held at the end of the respective reporting period was $37 million and $15 million for the three and nine months ended September 29, 2018, respectively, and $54 million and $114 million for the three and nine months ended September 30, 2017, respectively.

In addition to its short-term investments, Seaboard also has trading securities related to Seaboard’s deferred compensation plans classified in other current assets in the condensed consolidated balance sheets. See Note 6 to the condensed consolidated financial statements for information on the types of trading securities held related to the deferred compensation plans.