Fundsmith LLP — PHILIP MORRIS INTL INC PM: Quarterly 13F Position History
Fundsmith LLP has reported PHILIP MORRIS INTL INC (PM) on 41 13F-HR filings in Pactolio's tracked window, first appearing in Q1 2016. As of Q1 2026, the position is sized at 5,113,163 shares ($845.4M market value, 6.59% of the equity book). Quarter-over-quarter share count change: 1,011,434 (-16.5%) .
- 5,113,163Shares Held (Latest Filing)
- $845.4MReported Market Value (Latest Filing)
- 6.59%Portfolio Weight (% of 13F Equity Book)
- 1,011,434Quarter-over-Quarter Share Change
- -$137.0MQuarter-over-Quarter Value Change
- 20,423,427Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 41 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 5,113,163 | 1,011,434 | -16.5% | $845.4M | 6.59% | $165.34 |
| Q4 2025 | 6,124,597 | 1,063,547 | -14.8% | $982.4M | 5.74% | $160.40 |
| Q3 2025 | 7,188,144 | 1,886,051 | -20.8% | $1.17B | 5.89% | $162.20 |
| Q2 2025 | 9,074,195 | 1,731,697 | -16.0% | $1.65B | 7.18% | $182.13 |
| Q1 2025 | 10,805,892 | 439,283 | -3.9% | $1.72B | 7.81% | $158.73 |
| Q4 2024 | 11,245,175 | 767,484 | -6.4% | $1.35B | 5.77% | $120.35 |
| Q3 2024 | 12,012,659 | 2,461,786 | -17.0% | $1.46B | 5.77% | $121.40 |
| Q2 2024 | 14,474,445 | 347,792 | -2.3% | $1.47B | 5.98% | $101.33 |
| Q1 2024 | 14,822,237 | 215,420 | -1.4% | $1.36B | 5.32% | $91.62 |
| Q4 2023 | 15,037,657 | 26,879 | -0.2% | $1.41B | 5.92% | $94.08 |
| Q3 2023 | 15,064,536 | 720,380 | -4.6% | $1.39B | 6.34% | $92.58 |
| Q2 2023 | 15,784,916 | 678,947 | -4.1% | $1.54B | 6.47% | $97.62 |
| Q1 2023 | 16,463,863 | 12,225 | -0.1% | $1.60B | 6.91% | $97.25 |
| Q4 2022 | 16,476,088 | 12,979 | -0.1% | $1.67B | 7.62% | $101.21 |
| Q3 2022 | 16,489,067 | +10,642 | +0.1% | $1.37B | 6.50% | $83.01 |
| Q2 2022 | 16,478,425 | +21,134 | +0.1% | $1.63B | 7.18% | $98.74 |
| Q1 2022 | 16,457,291 | 3,966,136 | -19.4% | $1.55B | 5.31% | $93.94 |
| Q4 2021 | 20,423,427 | +1,069,807 | +5.5% | $1.94B | 4.73% | $95.00 |
| Q3 2021 | 19,353,620 | 0 | — | $1.83B | 5.07% | $94.79 |
| Q2 2021 | 19,353,620 | 34,952 | -0.2% | $1.92B | 5.32% | $99.11 |
| Q1 2021 | 19,388,572 | 79,369 | -0.4% | $1.72B | 5.47% | $88.74 |
| Q4 2020 | 19,467,941 | 35,374 | -0.2% | $1.61B | 5.34% | $82.79 |
| Q3 2020 | 19,503,315 | +127,460 | +0.7% | $1.46B | 5.71% | $74.99 |
| Q2 2020 | 19,375,855 | +2,352,902 | +13.8% | $1.36B | 5.92% | $70.06 |
| Q1 2020 | 17,022,953 | +123,717 | +0.7% | $1.24B | 6.99% | $72.96 |
| Q4 2019 | 16,899,236 | 29,347 | -0.2% | $1.44B | 6.79% | $85.09 |
| Q3 2019 | 16,928,583 | +1,660,076 | +10.9% | $1.29B | 6.57% | $75.93 |
| Q2 2019 | 15,268,507 | +1,953,131 | +14.7% | $1.20B | 6.25% | $78.53 |
| Q1 2019 | 13,315,376 | +1,007,253 | +8.2% | $1.18B | 6.69% | $88.39 |
| Q4 2018 | 12,308,123 | 101,244 | -0.8% | $1.00B | 6.43% | $81.54 |
| Q3 2018 | 12,409,367 | +1,934,219 | +18.5% | $1.01B | 6.79% | $81.54 |
| Q2 2018 | 10,475,148 | +1,566,361 | +17.6% | $845.8M | 6.29% | $80.74 |
| Q1 2018 | 8,908,787 | +1,401,190 | +18.7% | $885.5M | 7.30% | $99.40 |
| Q4 2017 | 7,507,597 | +1,255,808 | +20.1% | $793.2M | 6.80% | $105.65 |
| Q3 2017 | 6,251,789 | +1,010,877 | +19.3% | $698.9M | 6.77% | $111.79 |
| Q2 2017 | 5,240,912 | +79,106 | +1.5% | $615.5M | 6.45% | $117.45 |
| Q1 2017 | 5,161,806 | +8,735 | +0.2% | $582.8M | 6.77% | $112.90 |
| Q4 2016 | 5,153,071 | +187,023 | +3.8% | $472.7M | 6.22% | $91.73 |
| Q3 2016 | 4,966,048 | +598,401 | +13.7% | $482.8M | 6.60% | $97.22 |
| Q2 2016 | 4,367,647 | +454,367 | +11.6% | $444.3M | 7.30% | $101.72 |
| Q1 2016 | 3,913,280 | — | — | $383.9M | 8.27% | $98.11 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did Fundsmith LLP first disclose a PM position in 13F-HR filings?
Fundsmith LLP first reported PHILIP MORRIS INTL INC (PM) on its 13F-HR filing for the period ending 2016-03-31 (Q1 2016). The position has appeared on 41 reported quarters within Pactolio's tracked window.
What was Fundsmith LLP's most recent quarter-over-quarter share-count change in PM?
Between Q4 2025 and Q1 2026, Fundsmith LLP reduced its PM position by 1,011,434 shares (-16.5%), leaving 5,113,163 shares at a market value of $845.4M.
Does the implied price-per-share represent Fundsmith LLP's cost basis in PM?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.