Note 2 – Investments The following is a summary of the estimated fair value of short-term investments classified as trading securities: | | | | | | | | | | | | | | | | | | April 4, | | December 31, | | (Millions of dollars) | | 2026 | | 2025 | | Domestic equity securities (a) | | $ | 720 | | $ | 713 | | Foreign equity securities | | | 155 | | | 145 | | Domestic fixed-income mutual funds | | | 137 | | | 136 | | Foreign fixed-income mutual funds | | | 17 | | | 26 | | Domestic debt securities - other | | | 18 | | | 25 | | Money market funds held in trading accounts | | | 3 | | | 7 | | Total short-term investments | | $ | 1,050 | | $ | 1,052 | |
| (a) | Includes $387 million and $382 million of equity interests in private funds that hold debt securities as of April 4, 2026 and December 31, 2025, respectively. |
The unrealized losses related to trading securities still held at the end of the respective reporting periods were ($5) million and ($12) million for the three months ended April 4, 2026 and March 29, 2025, respectively.
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