Investments

3 Months Ended

Mar. 30, 2024

Investments

Investments

Note 2 – Investments

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

	March 30,		December 31,
(Millions of dollars)	2024		2023
Domestic equity securities	$	221	$	143
Foreign equity securities		100		96
Domestic debt securities		603		593
Foreign debt securities		134		120
Money market funds held in trading accounts		14		17
Other trading securities		7		4
Total trading short-term investments	$	1,079	$	973

The unrealized gains related to trading securities still held at the end of the respective reporting period were $16 million and $30 million for the three months ended March 30, 2024 and April 1, 2023, respectively.

Seaboard had $26 million and $18 million of short-term investments denominated in foreign currencies, primarily euros, as of March 30, 2024 and December 31, 2023, respectively.

As of March 30, 2024, Seaboard had long-term investments of $133 million, in real estate and renewable energy facilities, classified in other non-current assets on the condensed consolidated balance sheet. As of December 31, 2023, Seaboard had long-term investments of $207 million which included an investment of $68 million in a business development company (“BDC”) that completed an initial public offering (“IPO”) and became a publicly traded company on the NYSE during the first quarter of 2024. Seaboard’s securities in this BDC are subject to standard contractual sale restrictions associated with an IPO, and have phased expiration dates, with all restrictions expiring by February 2025. As of March 30, 2024, the BDC securities are included in short-term investments on the condensed consolidated balance sheet and in domestic equity securities in the table above. The reclassification of these securities from long-term investments to short-term investments was a non-cash activity on the condensed consolidated statement of cash flows.