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Investments | 9 Months Ended
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Sep. 30, 2023
Investments |
Investments | 5. Investments Investments Investments and securities sold, not yet purchased consist of equities, bonds, bank debt and other corporate obligations, all of which are reported at fair value in our condensed consolidated balance sheets. In addition, our Investment segment has certain derivative transactions which are discussed in Note 7, “Financial Instruments.” The carrying value and detail by security type, including business sector for equity securities, with respect to investments and securities sold, not yet purchased held by our Investment segment consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31,
​ |  | 2023 |  | 2022
​ | ​ | (in millions)
Assets | ​ | ​ | ​ | ​ | ​ | ​
Investments: |  | ​ |  |  | ​ |
Equity securities: |  | ​ |  |  | ​ |
Communications | ​ | $ | — | ​ | $ | 199
Consumer, cyclical | ​ |  | 263 | ​ |  | 692
Energy | ​ |  | 788 | ​ |  | 909
Utilities | ​ |  | 1,149 | ​ |  | 1,205
Healthcare | ​ |  | 447 | ​ |  | 320
Technology | ​ |  | 133 | ​ |  | 655
Materials | ​ |  | 136 | ​ |  | 153
Industrial | ​ |  | 23 | ​ |  | 486
​ | ​ |  | 2,939 | ​ |  | 4,619
Debt Securities: | ​ | ​ | ​ | ​ | ​ | ​
Financials | ​ | ​ | 156 | ​ | ​ | 1,958
Real Estate | ​ | ​ | 90 | ​ | ​ | 131
Communications | ​ | ​ | — | ​ | ​ | 11
​ | ​ |  | 246 | ​ |  | 2,100
​ | ​ | $ | 3,185 | ​ | $ | 6,719
Liabilities | ​ |  |  | ​ |  |
Securities sold, not yet purchased, at fair value: | ​ |  |  | ​ |  |
Equity securities: | ​ |  |  | ​ |  |
Consumer, non-cyclical | ​ | $ | 106 | ​ | $ | 1,006
Consumer, cyclical | ​ | ​ | — | ​ | ​ | 352
Energy | ​ |  | 2,340 | ​ |  | 2,690
Utilities | ​ |  | 541 | ​ |  | 813
Healthcare | ​ |  | — | ​ |  | 387
Materials | ​ |  | 529 | ​ |  | 598
Industrial | ​ | ​ | 120 | ​ | ​ | 480
​ | ​ | ​ | 3,636 | ​ | ​ | 6,326
Debt securities: | ​ | ​ | ​ | ​ | ​ | ​
Materials | ​ | ​ | 165 | ​ | ​ | 169
​ | ​ | $ | 3,801 | ​ | $ | 6,495
​ The portion of unrealized (losses) and gains that relates to securities still held by our Investment segment, primarily equity securities, was $(255) million and $(250) million for the three months ended September 30, 2023 and 2022, respectively, and $(286) million and $(1,172) million for the nine months ended September 30, 2023 and 2022, respectively. ​ ​ Other Segments and Holding Company With the exception of certain equity method investments at our operating subsidiaries and our Holding Company disclosed in the table below, our investments are measured at fair value in our condensed consolidated balance sheets. The carrying value of investments held by our other segments and our Holding Company consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31,
​ |  | 2023 |  | 2022
​ | ​ | (in millions)
Equity method investments | ​ | $ | 101 | ​ | $ | 76
Held to maturity debt investments measured at amortized cost | ​ | ​ | 11 | ​ | ​ | 11
Other investments measured at fair value | ​ |  | 3 | ​ |  | 3
​ | ​ | $ | 115 | ​ | $ | 90
​ The portion of unrealized gains and (losses) that relates to equity securities still held by our other segments and Holding Company was zero for each of the three months ended September 30, 2023 and 2022, and zero and $61 million for the nine months ended September 30, 2023 and 2022, respectively.

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