Newport Trust

The Newport Trust Company is a private company whose US address is in New York City.[1] The Trust is controlled by the Newport Group, through a New Hampshire-chartered trust company.[2] The Trust controls $34 billion in Assets under management on American stock exchanges,[3] including roughly $10 billion in Boeing shares[4] and roughly $3.77 billion in shares of General Dynamics.[5] Its offices are based in Walnut Creek, California.[6]

History

In March 2019, it held significant fractions of around four dozen major American firms, with the notable exception of the IT sector.[3] Its fund distribution was most heavily weighted towards the industrial sector, followed in a 3:1 ratio with the telecommunications sector.[3]

In April 2022, Newport Trust closed a merger deal with Ascensus.[6][7]

References
  1. "Newport Trust Co: Private Company". Bloomberg L.P.
  2. "Evercore Agrees to Sell Its Institutional Trust and Independent Fiduciary Business to Newport Group". PR Newswire Association LLC.
  3. "Institutional Portfolio: NEWPORT TRUST CO". NASDAQ.
  4. "Boeing Company (The) Ownership Summary". NASDAQ.
  5. "General Dynamics Institutional Ownership 2023 (NYSE:GD)". www.marketbeat.com. Retrieved 2023-05-10.
  6. "Ascensus Closes Newport Merger Agreement". Ascensus. April 8, 2022. Retrieved May 19, 2023.
  7. "Ascensus Scoops Up Newport Group". National Association of Plan Advisors. November 4, 2021. Retrieved May 19, 2023.
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