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]
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]
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