PHILIP MORRIS INTL INC PM
COM · Common Stock · CUSIP 718172109 · ISIN US7181721090
American global cigarette and tobacco company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($620.4m this quarter). Holder counts are more reliable. Shares outstanding: 1.6bn as of 2026-01-30, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $160.36. Options: 41 managers hold calls ($1.0bn notional), 39 hold puts ($1.1bn).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1,947 |
| Q4 2022 | 2,048 |
| Q1 2023 | 2,048 |
| Q2 2023 | 2,038 |
| Q3 2023 | 2,034 |
| Q4 2023 | 2,156 |
| Q1 2024 | 2,155 |
| Q2 2024 | 2,221 |
| Q3 2024 | 2,351 |
| Q4 2024 | 2,520 |
| Q1 2025 | 2,713 |
| Q2 2025 | 2,848 |
| Q3 2025 | 2,737 |
| Q4 2025 | 2,811 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 933 | 1,004 |
| Q2 2024 | 1,004 | 959 |
| Q3 2024 | 1,076 | 981 |
| Q4 2024 | 1,123 | 937 |
| Q1 2025 | 1,329 | 1,086 |
| Q2 2025 | 1,374 | 1,143 |
| Q3 2025 | 1,232 | 1,256 |
| Q4 2025 | 1,226 | 1,171 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $1.8bn | $1.1bn | 0.64 |
| Q2 2025 | $2.0bn | $1.5bn | 0.71 |
| Q3 2025 | $1.4bn | $1.3bn | 0.90 |
| Q4 2025 | $1.0bn | $1.1bn | 1.03 |
Biggest buyers
| Capital International Investors | Added | +12.2m |
| Capital Research Global Investors | Added | +11.0m |
| BlackRock, Inc. | Added | +4.0m |
| Capital World Investors | Added | +3.6m |
| BNP PARIBAS FINANCIAL MARKETS | Added | +2.9m |
| HSBC HOLDINGS PLC | Added | +2.9m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +2.5m |
| SG Americas Securities, LLC | Added | +2.2m |
| VANGUARD GROUP INC | Added | +1.8m |
| JANUS HENDERSON GROUP PLC | Added | +1.7m |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -52.8m |
| Ninety One UK Ltd | Reduced | -7.2m |
| VIKING GLOBAL INVESTORS LP | Sold out | -4.4m |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Reduced | -4.3m |
| Bank of New York Mellon Corp | Reduced | -4.1m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -3.7m |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | Reduced | -2.0m |
| LONE PINE CAPITAL LLC | Reduced | -2.0m |
| BARCLAYS PLC | Reduced | -1.8m |
| NOMURA HOLDINGS INC | Reduced | -1.5m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $177.8m1.1m shares |
| CITADEL ADVISORS LLC | Reduced | $157.5m981.8k shares |
| D. E. Shaw & Co., Inc. | Added | $125.2m780.3k shares |
| JANE STREET GROUP, LLC | Reduced | $88.6m552.4k shares |
| IMC-Chicago, LLC | Reduced | $66.6m415.2k shares |
| Squarepoint Ops LLC | Reduced | $46.0m286.8k shares |
| Point72 Asset Management, L.P. | Added | $34.6m215.9k shares |
| GOLDMAN SACHS GROUP INC | Added | $28.2m176.0k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $26.6m165.6k shares |
| Twin Tree Management, LP | Added | $25.1m156.4k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $292.0m1.8m shares |
| CITADEL ADVISORS LLC | Reduced | $114.1m711.5k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $106.0m660.7k shares |
| CITIGROUP INC | Reduced | $99.3m619.2k shares |
| GOLDMAN SACHS GROUP INC | Added | $79.1m492.9k shares |
| Qube Research & Technologies Ltd | Added | $56.7m353.2k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $49.7m309.9k shares |
| JANE STREET GROUP, LLC | Reduced | $44.0m274.4k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Reduced | $43.0m268.0k shares |
| D. E. Shaw & Co., Inc. | Added | $39.4m245.9k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Capital World Investors 13G · institution filed 2025-05-13 | 8.3% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.5% |
| Capital Research Global Investors 13G · institution new · filed 2026-05-14 | 5.1% |
Fell to 5% or below in the last year: Capital International Investors (4.8%, 2026-05-14), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 7 | $14.2m | — |
| Q2 2024 | 0 | — | 1 | $1.9m | — |
| Q3 2024 | 0 | — | 2 | $5.7m | — |
| Q4 2024 | 0 | — | 4 | $18.8m | — |
| Q1 2025 | 0 | — | 9 | $25.0m | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.34% of their portfolio | 145.3m $23.3bn | Added +1.8m |
| Capital World Investors 2.89% of their portfolio | 132.4m $21.2bn | Added +3.6m |
| BlackRock, Inc. 0.30% of their portfolio | 109.3m $17.5bn | Added +4.0m |
| Capital International Investors 2.55% of their portfolio | 101.4m $16.3bn | Added +12.2m |
| GQG Partners LLC 14.56% of their portfolio | 55.1m $8.8bn | Added +114.5k |
| STATE STREET CORP 0.30% of their portfolio | 55.0m $8.9bn | Added +45.2k |
| Capital Research Global Investors 1.62% of their portfolio | 54.6m $8.8bn | Added +11.0m |
| JPMORGAN CHASE & CO 0.45% of their portfolio | 41.7m $6.7bn | Reduced -52.8m |
| FMR LLC 0.34% of their portfolio | 41.4m $6.6bn | Added +949.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.37% of their portfolio | 37.4m $6.0bn | Reduced -544.3k |
| MORGAN STANLEY 0.22% of their portfolio | 23.4m $3.8bn | Reduced -1.0m |
| Invesco Ltd. 0.24% of their portfolio | 15.6m $2.5bn | Added +383.8k |
| BANK OF AMERICA CORP /DE/ 0.18% of their portfolio | 15.4m $2.5bn | Added +590.4k |
| NORTHERN TRUST CORP 0.30% of their portfolio | 14.4m $2.3bn | Reduced -252.5k |
| FRANKLIN RESOURCES INC 0.57% of their portfolio | 14.4m $2.3bn | Added +842.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.40% of their portfolio | 14.3m $2.3bn | Reduced -3.7m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.24% of their portfolio | 14.2m $2.3bn | Added +1.6m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.33% of their portfolio | 13.3m $2.1bn | Added +191.3k |
| Fayez Sarofim & Co 4.18% of their portfolio | 10.8m $1.7bn | Reduced -237.8k |
| WCM INVESTMENT MANAGEMENT, LLC 3.60% of their portfolio | 10.8m $1.8bn | Reduced -464.6k |
| Nuveen, LLC 0.42% of their portfolio | 10.0m $1.6bn | Reduced -119.0k |
| Bank of New York Mellon Corp 0.26% of their portfolio | 9.4m $1.5bn | Reduced -4.1m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.48% of their portfolio | 9.3m $1.5bn | Added +2.5m |
| GOLDMAN SACHS GROUP INC 0.19% of their portfolio | 8.3m $1.3bn | Reduced -457.4k |
| Legal & General Group Plc 0.27% of their portfolio | 7.6m $1.2bn | Reduced -157.1k |
| Ninety One UK Ltd 2.46% of their portfolio | 7.2m $1.1bn | Reduced -7.2m |
| ROYAL BANK OF CANADA 0.19% of their portfolio | 6.6m $1.1bn | Reduced -353.3k |
| Boston Partners 1.05% of their portfolio | 6.3m $1.0bn | Reduced -696.6k |
| AMERIPRISE FINANCIAL INC 0.22% of their portfolio | 6.2m $992.0m | Added +1.6m |
| Fundsmith LLP 5.74% of their portfolio | 6.1m $982.4m | Reduced -1.1m |
| First Eagle Investment Management, LLC 1.64% of their portfolio | 5.8m $931.6m | Reduced -313.2k |
| ENVESTNET ASSET MANAGEMENT INC 0.27% of their portfolio | 5.7m $912.3m | Reduced -322.4k |
| HSBC HOLDINGS PLC 0.26% of their portfolio | 5.7m $908.0m | Added +2.9m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.18% of their portfolio | 5.4m $868.4m | Added +66.5k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.57% of their portfolio | 5.2m $840.9m | Added +120.1k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.47% of their portfolio | 5.0m $798.1m | Added +1.7m |
| GARDNER RUSSO & QUINN LLC 8.13% of their portfolio | 4.7m $753.5m | Added +35.3k |
| RAYMOND JAMES FINANCIAL INC 0.23% of their portfolio | 4.6m $741.9m | Reduced -132.1k |
| JANUS HENDERSON GROUP PLC 0.32% of their portfolio | 4.5m $715.4m | Added +1.7m |
| Swiss National Bank 0.41% of their portfolio | 4.3m $684.2m | Reduced -221.3k |
| FEDERATED HERMES, INC. 1.03% of their portfolio | 3.9m $617.7m | Added +1.0m |
| Independent Franchise Partners LLP 3.90% of their portfolio | 3.8m $613.3m | Added +48.2k |
| UBS Group AG 0.12% of their portfolio | 3.8m $603.8m | Reduced -908.0k |
| WELLS FARGO & COMPANY/MN 0.12% of their portfolio | 3.7m $594.2m | Added +57.4k |
| BARCLAYS PLC 0.24% of their portfolio | 3.7m $589.1m | Reduced -1.8m |
| National Pension Service 0.43% of their portfolio | 3.6m $575.4m | Reduced -223.2k |
| ALLIANCEBERNSTEIN L.P. 0.18% of their portfolio | 3.6m $570.5m | Reduced -261.1k |
| AQR CAPITAL MANAGEMENT LLC 0.30% of their portfolio | 3.5m $567.0m | Added +289.0k |
| BNP PARIBAS FINANCIAL MARKETS 0.33% of their portfolio | 3.2m $519.9m | Added +2.9m |
| DIMENSIONAL FUND ADVISORS LP 0.11% of their portfolio | 3.2m $514.3m | Reduced -6.9k |
| Sumitomo Mitsui Trust Group, Inc. 0.29% of their portfolio | 3.1m $496.2m | Reduced -126.1k |
| DEUTSCHE BANK AG\ 0.14% of their portfolio | 2.7m $431.9m | Added +146.8k |
| LONE PINE CAPITAL LLC 3.12% of their portfolio | 2.6m $424.0m | Reduced -2.0m |
| PNC Financial Services Group, Inc. 0.23% of their portfolio | 2.6m $420.8m | Reduced -32.5k |
| LPL Financial LLC 0.11% of their portfolio | 2.6m $419.9m | Added +8.7k |
| MACKENZIE FINANCIAL CORP 0.49% of their portfolio | 2.5m $409.7m | Reduced -285.1k |
| DekaBank Deutsche Girozentrale 0.46% of their portfolio | 2.5m $263.8m | Unchanged |
| TRUIST FINANCIAL CORP 0.53% of their portfolio | 2.5m $397.3m | Added +69.5k |
| VAN ECK ASSOCIATES CORP 0.33% of their portfolio | 2.5m $394.8m | Added +438 |
| CANADA PENSION PLAN INVESTMENT BOARD 0.26% of their portfolio | 2.5m $393.7m | Reduced -75.7k |
| NEUBERGER BERMAN GROUP LLC 0.29% of their portfolio | 2.4m $391.2m | Reduced -188.4k |
| RHUMBLINE ADVISERS 0.30% of their portfolio | 2.3m $369.1m | Reduced -45.8k |
| SG Americas Securities, LLC 0.48% of their portfolio | 2.3m $362.5m | Added +2.2m |
| MAVERICK CAPITAL LTD 3.75% of their portfolio | 2.2m $349.2m | Added +554.9k |
| LONDON CO OF VIRGINIA 2.00% of their portfolio | 2.2m $346.1m | Reduced -53.5k |
| PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO 1.26% of their portfolio | 2.1m $341.8m | Reduced -40.6k |
| FUNDSMITH INVESTMENT SERVICES LTD. 6.14% of their portfolio | 2.1m $335.5m | Reduced -142.3k |
| BANK OF MONTREAL /CAN/ 0.13% of their portfolio | 2.0m $323.7m | Added +119.3k |
| NATIONAL BANK OF CANADA /FI/ 0.32% of their portfolio | 2.0m $314.4m | Added +602.4k |
| FIRST MANHATTAN CO. LLC. 0.77% of their portfolio | 1.8m $293.3m | Added +20.9k |
| Capital International, Inc./CA/ 2.21% of their portfolio | 1.8m $280.8m | Added +94.4k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.37% of their portfolio | 1.7m $280.2m | Reduced -10.3k |
| LORD, ABBETT & CO. LLC 0.86% of their portfolio | 1.7m $279.7m | Reduced -281.9k |
| PRINCIPAL FINANCIAL GROUP INC 0.14% of their portfolio | 1.7m $279.2m | Added +42.8k |
| PANAGORA ASSET MANAGEMENT INC 0.94% of their portfolio | 1.7m $265.6m | Added +176.9k |
| Focus Partners Wealth 0.29% of their portfolio | 1.6m $255.6m | Added +1.0m |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 1.30% of their portfolio | 1.5m $244.5m | Added +1.8k |
| Perpetual Ltd 3.35% of their portfolio | 1.4m $231.8m | Added +31.2k |
| CITIGROUP INC 0.16% of their portfolio | 1.4m $229.3m | Reduced -209.4k |
| BANK OF NOVA SCOTIA 0.34% of their portfolio | 1.4m $228.0m | Added +594.9k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.34% of their portfolio | 1.4m $225.7m | Reduced -8.5k |
| SEI INVESTMENTS CO 0.22% of their portfolio | 1.4m $224.0m | Added +317.9k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.39% of their portfolio | 1.4m $222.2m | Reduced -32.9k |
| STIFEL FINANCIAL CORP 0.20% of their portfolio | 1.4m $217.8m | Reduced -46.6k |
| NATIXIS ADVISORS, LLC 0.31% of their portfolio | 1.3m $216.0m | Reduced -73.4k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.40% of their portfolio | 1.3m $206.8m | Reduced -20.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.16% of their portfolio | 1.2m $200.3m | Reduced -289.4k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.41% of their portfolio | 1.2m $193.6m | Added +27.3k |
| Cullen Capital Management, LLC 2.09% of their portfolio | 1.2m $191.1m | Reduced -7.4k |
| Corient Private Wealth LP 0.11% of their portfolio | 1.1m $170.8m | Added +613.9k |
| Qube Research & Technologies Ltd 0.25% of their portfolio | 1.1m $177.8m | Added +48.0k |
| CINCINNATI FINANCIAL CORP 3.45% of their portfolio | 1.1m $176.7m | Unchanged |
| Russell Investments Group, Ltd. 0.19% of their portfolio | 1.1m $175.8m | Reduced -112.1k |
| Korea Investment CORP 0.34% of their portfolio | 1.1m $171.1m | Reduced -168.6k |
| Artisan Partners Limited Partnership 0.25% of their portfolio | 1.0m $161.2m | Added +35.3k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.14% of their portfolio | 986.0k $158.2m | Reduced -4.3m |
| HighTower Advisors, LLC 0.17% of their portfolio | 973.7k $156.2m | Added +34.5k |
| Mitsubishi UFJ Trust & Banking Corp 0.36% of their portfolio | 952.1k $152.7m | Added +97.6k |
| LAZARD ASSET MANAGEMENT LLC 0.25% of their portfolio | 927.3k $148.7m | Added +89.2k |
| Asset Management One Co., Ltd. 0.41% of their portfolio | 914.1k $147.9m | Added +47.6k |