Long-term investments ______ . are investments in debt securities or equity securities in which the investor holds less than 20 percent of the voting stock and that the investor plans to sell in the very near future are investments in debt and equity securities that are highly liquid and that the investor intends to sell in one year or less include debt and equity securities that the investor expects to hold longer than one year or debt or equity securities that are not readily marketable include all debt securities that are trading investments or held-to-maturity investments