# Philip Morris International (PM): value investors who own it

11 value investors held Philip Morris International in their Q3 2026 13F, led by Gardner Russo & Quinn, Fundsmith, First Eagle Investment Management…

## 13F holders

| Manager | Portfolio | Value | Change | Quarters held |
| --- | --- | --- | --- | --- |
| Gardner Russo & Quinn | 9.2% | $820m | Trimmed -1.6% | 53 |
| Fundsmith | 3.9% | $527m | Trimmed -43% | 54 |
| First Eagle Investment Management | 1.8% | $1.1bn | Added +0.6% | 33 |
| Troy Asset Management | 0.6% | $22.4m | Trimmed -5.3% | 36 |
| Markel Group | 0.2% | $20.7m | Unchanged | 53 |
| Horizon Kinetics | 0.0% | $3.6m | Trimmed -0.6% | 30 |
| Semper Augustus | 0.0% | $319k | Unchanged | 2 |
| Yacktman Asset Management | 0.0% | $905k | Trimmed -15% | 53 |
| Dodge & Cox | 0.0% | $3.0m | Unchanged | 53 |
| Harris Associates (Oakmark) | 0.0% | $1.1m | Added +20% | 53 |
| Mairs & Power | 0.0% | $459k | Unchanged | 53 |

## Fund holders

| Fund | Manager | Weight | Value | As at |
| --- | --- | --- | --- | --- |
| Fundsmith Equity ETF | Fundsmith | 3.7% | $289k | 2026-06-30 |
| First Eagle Global Fund | First Eagle Investment Management | 1.0% | $736m | 2026-07-31 |

Source: SEC filings, via moatshark (https://www.moatshark.com/s/pm). Values traded and returns are estimates. Not investment advice. Built 2026-10-21.