SCHEDULE: Newport Trust Discloses 38.84% Stake in Dillard's

Newport Trust Company, LLC has reported beneficial ownership of 38.84% of Dillard's, Inc. Class A Common Stock as of September 30, 2025.

Summary

• Newport Trust Company, LLC beneficially owns 4,515,977 shares of Dillard's, Inc. Class A Common Stock.
• This ownership represents 38.84% of the total Class A Common Stock outstanding.
• Newport Trust Company, LLC is classified as a bank for the purpose of this filing.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Dillard's, Inc.

Sentiment

Score: 5

Explanation: Neutral, as this is a factual disclosure of beneficial ownership without any performance or strategic updates.

Future Outlook

NA

Industry Context

This filing indicates a significant institutional ownership position in Dillard's, a major U.S. department store chain. Such a large stake by a trust company can signal long-term investment interest or a fiduciary responsibility for a substantial client portfolio within the retail sector.

Stakeholder Impact

• Shareholders: Disclosure of a significant institutional holder provides transparency regarding the ownership structure and potential long-term stability of a large block of shares.

Key Dates

Keywords

Dillard's, Newport Trust Company, Beneficial Ownership, Class A Common Stock, SEC Filing, Schedule 13G, Retail, Department Store