Terry Smith's PM Position Overview
Terry Smith (via Fundsmith Llp) currently holds 6.12 M shares of Philip Morris International Inc. (PM) worth $982.39 M, representing 5.74% of the portfolio. First purchased in 2013-Q1, this long-term strategic position has been held for 52 quarters.
Based on 13F filings since 2013, Terry Smith has maintained a long-term strategic position in PM, representing a significant commitment to this investment thesis. Largest addition occurred in Q2 2020, adding 2.35 M shares. Largest reduction occurred in Q1 2022, reducing 3.97 M shares.
Analysis based on 13F filings available since 2013 Q2
Terry Smith's Philip Morris International (PM) Holding Value Over Time
Track share changes against reported price movement
Quarterly Philip Morris International (PM) Trades by Terry Smith
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | -1.06 M | Reduce 14.80% | 6.12 M | $160.40 |
| Q3 2025 | -1.89 M | Reduce 20.78% | 7.19 M | $162.20 |
| Q2 2025 | -1.73 M | Reduce 16.03% | 9.07 M | $182.13 |
| Q1 2025 | -439,283 | Reduce 3.91% | 10.81 M | $158.73 |
| Q4 2024 | -767,484 | Reduce 6.39% | 11.25 M | $120.35 |
| Q3 2024 | -2.46 M | Reduce 17.01% | 12.01 M | $121.40 |
| Q2 2024 | -347,792 | Reduce 2.35% | 14.47 M | $101.33 |
| Q1 2024 | -215,420 | Reduce 1.43% | 14.82 M | $91.62 |
| Q4 2023 | -26,879 | Reduce 0.18% | 15.04 M | $94.08 |
| Q3 2023 | -720,380 | Reduce 4.56% | 15.06 M | $92.58 |
| Q2 2023 | -678,947 | Reduce 4.12% | 15.78 M | $97.62 |
| Q1 2023 | -12,225 | Reduce 0.07% | 16.46 M | $97.25 |
| Q4 2022 | -12,979 | Reduce 0.08% | 16.48 M | $101.21 |
| Q3 2022 | +10,642 | Add 0.06% | 16.49 M | $83.01 |
| Q2 2022 | +21,134 | Add 0.13% | 16.48 M | $98.74 |
| Q1 2022 | -3.97 M | Reduce 19.42% | 16.46 M | $93.94 |
| Q4 2021 | +1.07 M | Add 5.53% | 20.42 M | $95.00 |
| Q2 2021 | -34,952 | Reduce 0.18% | 19.35 M | $99.11 |
| Q1 2021 | -79,369 | Reduce 0.41% | 19.39 M | $88.74 |
| Q4 2020 | -35,374 | Reduce 0.18% | 19.47 M | $82.79 |
| Q3 2020 | +127,460 | Add 0.66% | 19.5 M | $74.99 |
| Q2 2020 | +2.35 M | Add 13.82% | 19.38 M | $70.06 |
| Q1 2020 | +123,717 | Add 0.73% | 17.02 M | $72.96 |
| Q4 2019 | -29,347 | Reduce 0.17% | 16.9 M | $85.09 |
| Q3 2019 | +1.66 M | Add 10.87% | 16.93 M | $75.93 |
| Q2 2019 | +1.95 M | Add 14.67% | 15.27 M | $78.53 |
| Q1 2019 | +906,009 | Add 7.30% | 13.32 M | $88.39 |
| Q3 2018 | +1.93 M | Add 18.46% | 12.41 M | $81.54 |
| Q2 2018 | +1.57 M | Add 17.58% | 10.48 M | $80.74 |
| Q1 2018 | +1.4 M | Add 18.66% | 8.91 M | $99.40 |
| Q4 2017 | +1.26 M | Add 20.09% | 7.51 M | $105.65 |
| Q3 2017 | +1.01 M | Add 19.29% | 6.25 M | $111.79 |
| Q2 2017 | +79,106 | Add 1.53% | 5.24 M | $117.45 |
| Q1 2017 | +8,735 | Add 0.17% | 5.16 M | $112.90 |
| Q4 2016 | +187,023 | Add 3.77% | 5.15 M | $91.73 |
| Q3 2016 | +598,401 | Add 13.70% | 4.97 M | $97.22 |
| Q2 2016 | +454,367 | Add 11.61% | 4.37 M | $101.72 |
| Q1 2016 | +296,790 | Add 8.21% | 3.91 M | $98.11 |
| Q4 2015 | +445,132 | Add 14.04% | 3.62 M | $87.91 |
| Q3 2015 | +191,970 | Add 6.44% | 3.17 M | $79.33 |
| Q2 2015 | +37,095 | Add 1.26% | 2.98 M | $80.17 |
| Q1 2015 | +453,586 | Add 18.23% | 2.94 M | $75.33 |
| Q4 2014 | +545,784 | Add 28.09% | 2.49 M | $81.45 |
| Q3 2014 | +158,810 | Add 8.90% | 1.94 M | $83.40 |
| Q2 2014 | +385,406 | Add 27.55% | 1.78 M | $84.31 |
| Q1 2014 | +279,354 | Add 24.96% | 1.4 M | $81.87 |
| Q4 2013 | +128,976 | Add 13.02% | 1.12 M | $87.13 |
| Q3 2013 | +143,639 | Add 16.96% | 990,377 | $86.59 |
| Q2 2013 | +117,541 | Add 16.12% | 846,738 | $86.62 |
| Q1 2013 | +729,198 | Add 0.00% | 729,197 | $92.01 |
Terry Smith's Philip Morris International Investment FAQs
Terry Smith first purchased Philip Morris International Inc. (PM) in Q1 2013, acquiring 729,197 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Terry Smith has held Philip Morris International Inc. (PM) for 52 quarters since Q1 2013.
Terry Smith's largest addition to Philip Morris International Inc. (PM) was in Q2 2020, adding 19,375,855 shares worth $1.36 B.
According to the latest 13F filing for Q4 2025, Terry Smith's firm, Fundsmith Llp, owns 6,124,597 shares of Philip Morris International Inc. (PM), valued at approximately $982.39 M.
As of the Q4 2025 filing, Philip Morris International Inc. (PM) represents approximately 5.74% of Terry Smith's publicly disclosed stock portfolio, making it one of their key holdings.
Terry Smith's peak holding in Philip Morris International Inc. (PM) was 20,423,427 shares, as reported at the end of Q4 2021.