Newport Trust
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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.[7][8]
References
- ↑ "Newport Trust Co: Private Company". Bloomberg L.P.
- ↑ "Evercore Agrees to Sell Its Institutional Trust and Independent Fiduciary Business to Newport Group" (Press release). PR Newswire Association LLC.
- ↑ 3.0 3.1 3.2 "Institutional Portfolio: NEWPORT TRUST CO". NASDAQ.
- ↑ "Boeing Company (The) Ownership Summary". NASDAQ.
- ↑ "General Dynamics Institutional Ownership 2023 (NYSE:GD)". www.marketbeat.com. Retrieved 2023-05-10.
- ↑ "Ascensus Closes Newport Merger Agreement". Ascensus. April 8, 2022. Retrieved May 19, 2023.
- ↑ "Ascensus Scoops Up Newport Group". National Association of Plan Advisors. November 4, 2021. Retrieved May 19, 2023.
- ↑ Barstein, Fred (8 November 2021). "What Ascensus purchase of Newport Group means for advisers". Investment News. Retrieved 17 July 2024.
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