Investments

12 Months Ended

Dec. 31, 2019

Investments

Investments

Note 3 - Investments

The following is a summary of the estimated fair value of short-term investments classified as trading securities:

		December 31,
(Millions of dollars)	2019		2018
Domestic equity securities	$	706	$	632
Domestic debt securities		409		268
Foreign equity securities		189		218
High yield securities		56		19
Foreign debt securities		43		16
Collateralized loan obligations		15		28
Money market funds held in trading accounts		12		146
Other trading securities		4		9
Total trading short-term investments	$	1,434	$	1,336

The change in unrealized gains (losses) related to trading securities still held at the end of the respective reporting period was $176 million, $(110) million and $146 million for the years ended December 31, 2019, 2018 and 2017, respectively.

Seaboard had $62 million of equity securities denominated in foreign currencies as of December 31, 2019, with $32 million in euros, $12 million in Japanese yen, $8 million in the British pound and the remaining $10 million in various other currencies. Seaboard had $66 million of equity securities denominated in foreign currencies as of December 31, 2018, with $25 million in euros, $20 million in Japanese yen, $9 million in the British pound and the remaining $12 million in

various other currencies. Seaboard had $13 million of debt securities denominated in euros as of December 31, 2019. Also, money market funds included less than $1 million and $10 million denominated in various foreign currencies as of December 31, 2019 and 2018, 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 consolidated balance sheets. See Note 11 for information on the types of trading securities held related to the deferred compensation plans. See Note 10 for a discussion of assets held in conjunction with investments related to Seaboard’s defined benefit pension plan.