Terry Smith's PM Position Overview
Terry Smith (via Fundsmith Llp) currently holds 7.2M shares of Philip Morris International Inc. (PM) worth $1.17 B, representing 5.89% of the portfolio. First purchased in 2013-Q1, this long-term strategic position has been held for 51 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 2.4M shares. Largest reduction occurred in Q1 2022, reducing 4.0M 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
| Period | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q1 2013 | +729,198 | Add 0.00% | 729,197 | $92.01 |
| Q2 2013 | +117,541 | Add 16.12% | 846,738 | $86.62 |
| Q3 2013 | +143,639 | Add 16.96% | 990,377 | $86.59 |
| Q4 2013 | +128,976 | Add 13.02% | 1.12 M | $87.13 |
| Q1 2014 | +279,354 | Add 24.96% | 1.4 M | $81.87 |
| Q2 2014 | +385,406 | Add 27.55% | 1.78 M | $84.31 |
| Q3 2014 | +158,810 | Add 8.90% | 1.94 M | $83.40 |
| Q4 2014 | +545,784 | Add 28.09% | 2.49 M | $81.45 |
| Q1 2015 | +453,586 | Add 18.23% | 2.94 M | $75.33 |
| Q2 2015 | +37,095 | Add 1.26% | 2.98 M | $80.17 |
| Q3 2015 | +191,970 | Add 6.44% | 3.17 M | $79.33 |
| Q4 2015 | +445,132 | Add 14.04% | 3.62 M | $87.91 |
| Q1 2016 | +296,790 | Add 8.21% | 3.91 M | $98.11 |
| Q2 2016 | +454,367 | Add 11.61% | 4.37 M | $101.72 |
| Q3 2016 | +598,401 | Add 13.70% | 4.97 M | $97.22 |
| Q4 2016 | +187,023 | Add 3.77% | 5.15 M | $91.73 |
| Q1 2017 | +8,735 | Add 0.17% | 5.16 M | $112.90 |
| Q2 2017 | +79,106 | Add 1.53% | 5.24 M | $117.45 |
| Q3 2017 | +1.01 M | Add 19.29% | 6.25 M | $111.79 |
| Q4 2017 | +1.26 M | Add 20.09% | 7.51 M | $105.65 |
| Q1 2018 | +1.4 M | Add 18.66% | 8.91 M | $99.40 |
| Q2 2018 | +1.57 M | Add 17.58% | 10.48 M | $80.74 |
| Q3 2018 | +1.93 M | Add 18.46% | 12.41 M | $81.54 |
| Q1 2019 | +906,009 | Add 7.30% | 13.32 M | $88.39 |
| Q2 2019 | +1.95 M | Add 14.67% | 15.27 M | $78.53 |
| Q3 2019 | +1.66 M | Add 10.87% | 16.93 M | $75.93 |
| Q4 2019 | -29,347 | Reduce 0.17% | 16.9 M | $85.09 |
| Q1 2020 | +123,717 | Add 0.73% | 17.02 M | $72.96 |
| Q2 2020 | +2.35 M | Add 13.82% | 19.38 M | $70.06 |
| Q3 2020 | +127,460 | Add 0.66% | 19.5 M | $74.99 |
| Q4 2020 | -35,374 | Reduce 0.18% | 19.47 M | $82.79 |
| Q1 2021 | -79,369 | Reduce 0.41% | 19.39 M | $88.74 |
| Q2 2021 | -34,952 | Reduce 0.18% | 19.35 M | $99.11 |
| Q4 2021 | +1.07 M | Add 5.53% | 20.42 M | $95.00 |
| Q1 2022 | -3.97 M | Reduce 19.42% | 16.46 M | $93.94 |
| Q2 2022 | +21,134 | Add 0.13% | 16.48 M | $98.74 |
| Q3 2022 | +10,642 | Add 0.06% | 16.49 M | $83.01 |
| Q4 2022 | -12,979 | Reduce 0.08% | 16.48 M | $101.21 |
| Q1 2023 | -12,225 | Reduce 0.07% | 16.46 M | $97.25 |
| Q2 2023 | -678,947 | Reduce 4.12% | 15.78 M | $97.62 |
| Q3 2023 | -720,380 | Reduce 4.56% | 15.06 M | $92.58 |
| Q4 2023 | -26,879 | Reduce 0.18% | 15.04 M | $94.08 |
| Q1 2024 | -215,420 | Reduce 1.43% | 14.82 M | $91.62 |
| Q2 2024 | -347,792 | Reduce 2.35% | 14.47 M | $101.33 |
| Q3 2024 | -2.46 M | Reduce 17.01% | 12.01 M | $121.40 |
| Q4 2024 | -767,484 | Reduce 6.39% | 11.25 M | $120.35 |
| Q1 2025 | -439,283 | Reduce 3.91% | 10.81 M | $158.73 |
| Q2 2025 | -1.73 M | Reduce 16.03% | 9.07 M | $182.13 |
| Q3 2025 | -1.89 M | Reduce 20.78% | 7.19 M | $162.20 |
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 51 quarters since Q1 2013. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Terry Smith's largest addition to Philip Morris International Inc. (PM) was in Q2 2020, adding 19,375,855 shares worth $1.36 B. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
According to the latest 13F filing for Q3 2025, Terry Smith's firm, Fundsmith Llp, owns 7,188,144 shares of Philip Morris International Inc. (PM), valued at approximately $1.17 B. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
As of the Q3 2025 filing, Philip Morris International Inc. (PM) represents approximately 5.89% of Terry Smith's publicly disclosed stock portfolio, making it one of their key holdings. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Terry Smith's peak holding in Philip Morris International Inc. (PM) was 20,423,427 shares, as reported at the end of Q4 2021. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.