Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 114

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 4
Chunk 114
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Note 4:  Equity SecuritiesTable 4.1 provides a summary of our equity securities by business purpose and accounting method.Table 4.1:  Equity Securities(in millions) Mar 31,2025Dec 31,2024Equity securities held for trading at fair value (1)$23,320 19,270 Not held for trading:Equity securities at fair value (2)2,794 3,052 Tax credit investments (3)21,311 21,933 Private equity (4)12,573 12,607 Federal Reserve Bank stock and other at cost (5)3,603 3,782 Total equity securities not held for trading40,281 41,374 Total equity securities$63,601 60,644 (1)Represents securities held as part of our customer accommodation trading activities. For additional information on these activities, see Note 2 (Trading Activities).(2)Includes securities with a fair value of $369 million and $590 million at March 31, 2025, and December 31, 2024, respectively, subject to contractual lock-up periods restricting the sale of the securities, the majority of which expire in second quarter 2025.(3)Includes affordable housing investments of $11.9 billion and $12.3 billion at March 31, 2025, and December 31, 2024, respectively, and renewable energy investments of $9.1 billion and $9.4 billion at March 31, 2025, and December 31, 2024, respectively. Tax credit investments are accounted for using either the proportional amortization method or the equity method. See Note 13 (Securitizations and Variable Interest Entities) for information about tax credit investments.(4)Includes equity securities accounted for under the measurement alternative of $9.2 billion and $9.3 billion at March 31, 2025, and December 31, 2024, respectively, which were predominantly securities associated with our venture capital investments. The remaining securities are accounted for using the equity method.(5)Includes $3.5 billion of investments in Federal Reserve Bank stock at both March 31, 2025, and December 31, 2024, and $43 million and $224 million of investments in Federal Home Loan Bank stock at March 31, 2025, and December 31, 2024, respectively.Net Gains