The London Company released its third-quarter 2025 investor letter, reporting a 6.0% gross (5.8% net) increase in the portfolio compared to a 5.3% rise in the Russell 1000 Value Index. US equities rallied due to the Fed rate cut and strong corporate earnings. Top holdings include Philip Morris International Inc. (NYSE: PM), which had a one-month return of -4.90% and closed at $147.66 per share on November 4, 2025. The fund sees growth potential in PM’s smoke-free offerings and believes it will drive significant free cash flow in the long term.

While Philip Morris International Inc. (NYSE: PM) is held by 111 hedge fund portfolios, The London Company believes certain AI stocks offer greater upside potential with less downside risk. For more insights on Philip Morris International Inc. (NYSE: PM) and other stock picks with significant growth potential, check out billionaire Daniel Sundheim’s picks and hedge fund investor letters from Q3 2025.

Read more at Yahoo Finance: Philip Morris International (PM) Pulled Back in Q3