Newport Trust Company, LLC
Reported US equity positions for Q1 2026 — $40.7B across 64 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| BA The Boeing Company | $5.7B | 14.0% | 28,664,824 |
| T AT&T Inc. | $5.2B | 12.8% | 179,474,938 |
| GD General Dynamics Corporation | $4.7B | 11.4% | 13,570,601 |
| HONGBP Honeywell Intl INC | $2.9B | 7.1% | 12,865,197 |
| PSN Parsons Corporation | $2.7B | 6.7% | 50,138,695 |
| GE GE Aerospace | $2.7B | 6.7% | 9,551,052 |
| DDS Dillard's, Inc. | $2.6B | 6.3% | 4,512,177 |
| F Ford Motor Company | $1.6B | 3.9% | 139,301,961 |
| GEV GE Vernova Inc. | $1.4B | 3.4% | 1,605,185 |
| SRE DBA Sempra | $1.1B | 2.7% | 11,229,015 |
| DIS The Walt Disney Company | $1.0B | 2.5% | 10,717,278 |
| MMM 3M Company | $812.5M | 2.0% | 5,594,540 |
| WWD Woodward, Inc. | $718.4M | 1.8% | 2,007,149 |
| ETR Entergy Corporation | $585.2M | 1.4% | 5,208,183 |
| EMR Emerson Electric Company | $571.3M | 1.4% | 4,360,053 |
| G51502105 Johnson Controls Internation | $546.3M | 1.3% | 4,171,713 |
| DAL Delta Air Lines, Inc. | $523.0M | 1.3% | 7,866,420 |
| COF Capital One Financial Corporation | $482.9M | 1.2% | 2,646,859 |
| SPGI S&P Global Inc. | $439.4M | 1.1% | 1,033,108 |
| DRI Darden Restaurants, Inc. | $349.5M | 0.9% | 1,782,919 |
| HIG The Hartford Insurance Group, Inc. | $326.9M | 0.8% | 2,417,711 |
| UAL United Airlines Holdings, Inc. | $296.5M | 0.7% | 3,219,890 |
| XEL Xcel Energy Inc. | $290.7M | 0.7% | 3,659,878 |
| ELV Elevance Health, Inc. | $288.4M | 0.7% | 985,188 |
| NKE Nike, Inc. | $285.7M | 0.7% | 5,408,236 |
| NI NiSource Inc | $261.2M | 0.6% | 5,597,232 |
| WBD Warner Bros. Discovery, Inc. - Series A | $199.5M | 0.5% | 7,263,777 |
| HUM Humana Inc. | $181.5M | 0.4% | 1,046,726 |
| STT State Street Corporation | $181.0M | 0.4% | 1,430,141 |
| BMO Bank Of Montreal | $175.6M | 0.4% | 1,297,365 |
| HBAN Huntington Bancshares Incorporated | $162.5M | 0.4% | 10,380,696 |
| LTM Latam Airlines Group Sa | $160.3M | 0.4% | 3,242,366 |
| BTI British American Tobacco Industries, p.l.c. Common Stock ADR | $148.1M | 0.4% | 2,533,038 |
| WHR Whirlpool Corporation | $139.2M | 0.3% | 2,581,888 |
| M Macy's Inc | $125.4M | 0.3% | 6,932,729 |
| MCO Moody's Corporation | $118.9M | 0.3% | 272,656 |
| BBY Best Buy Co., Inc. | $75.0M | 0.2% | 1,167,885 |
| PM Philip Morris International Inc | $57.0M | 0.1% | 344,822 |
| WAT Waters Corporation | $54.8M | 0.1% | 183,921 |
| ED Consolidated Edison, Inc. | $54.3M | 0.1% | 480,171 |
| KHC The Kraft Heinz Company | $53.8M | 0.1% | 2,394,205 |
| PNC The PNC Financial Services Group, Inc. | $50.8M | 0.1% | 244,171 |
| PNW Pinnacle West Capital Corporation | $46.3M | 0.1% | 459,217 |
| VVV Valvoline Inc. | $45.9M | 0.1% | 1,362,754 |
| BDC Belden Inc | $39.2M | 0.1% | 341,072 |
| SNY Sanofi | $35.6M | 0.1% | 737,978 |
| OZK Bank OZK | $28.1M | 0.1% | 611,396 |
| BOH Bank of Hawaii Corporation | $25.8M | 0.1% | 347,220 |
| ASH Ashland Inc. | $25.0M | 0.1% | 449,452 |
| GT The Goodyear Tire & Rubber Company | $22.7M | 0.1% | 3,431,008 |
| Q Qnity Electronics INC | $19.3M | 0.0% | 167,063 |
| TRMK Trustmark Corporation | $17.2M | 0.0% | 408,564 |
| DWDPEUR Dupont De Nemours INC | $15.0M | 0.0% | 328,032 |
| RAMP LiveRamp Holdings, Inc. | $15.0M | 0.0% | 564,711 |
| MOS The Mosaic Company | $14.5M | 0.0% | 568,921 |
| SFNC Simmons First National Corporation | $10.3M | 0.0% | 529,905 |
| SOLV Solventum Corporation | $7.7M | 0.0% | 117,404 |
| GNW Genworth Financial Inc | $7.5M | 0.0% | 927,222 |
| HP Helmerich & Payne, Inc. | $7.2M | 0.0% | 200,516 |
| MO Altria Group, Inc. | $5.9M | 0.0% | 88,660 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| PNC The PNC Financial Services Group, Inc. | New | $50.8M | — | — |
| HP Helmerich & Payne, Inc. | New | $7.2M | — | — |
| BBWI Bath & Body Works, Inc. | Exit | — | $5.6M | -100% |
| VSXY Victorias Secret & Co. | Exit | — | $5.0M | -100% |
| BA The Boeing Company | Trim | $5.7B | $6.4B | -3% |
| T AT&T Inc. | Trim | $5.2B | $4.6B | -2% |
| GD General Dynamics Corporation | Trim | $4.7B | $4.6B | -1% |
| HONGBP Honeywell Intl INC | Trim | $2.9B | $2.6B | -3% |
| GE GE Aerospace | Trim | $2.7B | $3.0B | -2% |
| F Ford Motor Company | Add | $1.6B | $1.8B | +1% |
| GEV GE Vernova Inc. | Trim | $1.4B | $1.1B | -4% |
| SRE DBA Sempra | Trim | $1.1B | $1.0B | -4% |
| MMM 3M Company | Trim | $812.5M | $925.9M | -3% |
| ETR Entergy Corporation | Trim | $585.2M | $490.9M | -2% |
| EMR Emerson Electric Company | Trim | $571.3M | $595.1M | -3% |
| G51502105 Johnson Controls Internation | Trim | $546.3M | $510.3M | -2% |
| DAL Delta Air Lines, Inc. | Trim | $523.0M | $570.2M | -4% |
| COF Capital One Financial Corporation | Add | $482.9M | $601.8M | +7% |
| SPGI S&P Global Inc. | Add | $439.4M | $534.5M | +1% |
| DRI Darden Restaurants, Inc. | Trim | $349.5M | $337.4M | -3% |
| HIG The Hartford Insurance Group, Inc. | Trim | $326.9M | $338.9M | -2% |
| UAL United Airlines Holdings, Inc. | Trim | $296.5M | $365.3M | -1% |
| XEL Xcel Energy Inc. | Trim | $290.7M | $274.6M | -2% |
| ELV Elevance Health, Inc. | Trim | $288.4M | $352.3M | -2% |
| NKE Nike, Inc. | Trim | $285.7M | $354.3M | -3% |
| NI NiSource Inc | Trim | $261.2M | $238.1M | -2% |
| WBD Warner Bros. Discovery, Inc. - Series A | Trim | $199.5M | $217.6M | -4% |
| HUM Humana Inc. | Add | $181.5M | $252.5M | +6% |
| STT State Street Corporation | Trim | $181.0M | $188.3M | -2% |
| BMO Bank Of Montreal | Trim | $175.6M | $170.7M | -1% |
| LTM Latam Airlines Group Sa | Trim | $160.3M | $214.7M | -18% |
| BTI British American Tobacco Industries, p.l.c. Common Stock ADR | Trim | $148.1M | $147.8M | -3% |
| WHR Whirlpool Corporation | Add | $139.2M | $172.5M | +8% |
| MCO Moody's Corporation | Trim | $118.9M | $141.7M | -2% |
| BBY Best Buy Co., Inc. | Add | $75.0M | $76.9M | +2% |
| PM Philip Morris International Inc | Trim | $57.0M | $62.5M | -12% |
| WAT Waters Corporation | Add | $54.8M | $66.7M | +5% |
| ED Consolidated Edison, Inc. | Trim | $54.3M | $48.6M | -2% |
| KHC The Kraft Heinz Company | Trim | $53.8M | $59.7M | -3% |
| PNW Pinnacle West Capital Corporation | Trim | $46.3M | $41.8M | -3% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.