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Ray Dalio's Philip Morris International Inc. (PM) position

Yes: as of Q1 2026, Ray Dalio holds 1K shares of PM worth $202K (0.0% of the disclosed portfolio). Last quarter the position was reduced by 95.6%. First disclosed Q3 2021.
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Current value
$202K
Shares held
1K
% of portfolio
0.0%
Est. average buy price (i)
$142.67
Quarter-end price
$165.34

Estimated trade prices

Average price in quarters with purchases
$103.30
Average prices in quarters with sales
  • Q1 2026: $173.88 (26K shares sold)
  • Q4 2025: $154.89 (127K shares sold)
  • Q3 2025: $168.24 (39K shares sold)
  • Q1 2025: $141.65 (256K shares sold)
  • Q3 2024: $116.19 (139K shares sold)
  • Q2 2024: $97.77 (116K shares sold)
  • Q1 2024: $92.21 (584K shares sold)
  • Q4 2022: $94.37 (140K shares sold)
  • Q2 2022: $101.95 (600K shares sold)

PM price vs Dalio's position

1Y 3Y 5Y MAX
Dates
$50$100$150$20020222023202420252026New position of 72K shares · Q3 2021. Average closing price $100.59 · Price range $94.79–$106.1072KsharespurchasedAdded 191K shares (264.4%) · Q4 2021. Average closing price $93.47 · Price range $85.94–$98.85191KsharespurchasedAdded 365K shares (138.7%) · Q1 2022. Average closing price $100.05 · Price range $88.87–$111.90365KsharespurchasedSold 600K shares (95.6%) · Q2 2022. Average closing price $101.95 · Price range $95.66–$108.57600KsharessoldAdded 386K shares (over 1,000%) · Q3 2022. Average closing price $95.37 · Price range $83.01–$101.72386KsharespurchasedSold 140K shares (33.9%) · Q4 2022. Average closing price $94.37 · Price range $84.00–$104.30140KsharessoldAdded 173K shares (63.4%) · Q1 2023. Average closing price $99.66 · Price range $90.27–$105.39173KsharespurchasedAdded 368K shares (82.2%) · Q2 2023. Average closing price $95.55 · Price range $90.01–$101.51368KsharespurchasedAdded 71K shares (8.7%) · Q3 2023. Average closing price $96.24 · Price range $90.32–$100.4971KsharespurchasedAdded 98K shares (11.1%) · Q4 2023. Average closing price $92.13 · Price range $87.47–$95.2798KsharespurchasedSold 584K shares (59.4%) · Q1 2024. Average closing price $92.21 · Price range $88.98–$96.29584KsharessoldSold 116K shares (29.1%) · Q2 2024. Average closing price $97.77 · Price range $88.60–$104.24116KsharessoldSold 139K shares (49.2%) · Q3 2024. Average closing price $116.19 · Price range $101.25–$127.45139KsharessoldAdded 210K shares (145.7%) · Q4 2024. Average closing price $126.16 · Price range $118.38–$133.06210KsharespurchasedSold 256K shares (72.5%) · Q1 2025. Average closing price $141.65 · Price range $117.15–$158.79256KsharessoldAdded 96K shares (99.1%) · Q2 2025. Average closing price $171.73 · Price range $149.23–$184.9596KsharespurchasedSold 39K shares (20.3%) · Q3 2025. Average closing price $168.24 · Price range $157.77–$183.2739KsharessoldSold 127K shares (82.1%) · Q4 2025. Average closing price $154.89 · Price range $144.33–$162.64127KsharessoldSold 26K shares (95.6%) · Q1 2026. Average closing price $173.88 · Price range $155.15–$189.8026Ksharessold
Average closing price · filing quarter
$173.88
Price range · filing quarter
$155.15 – $189.80
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Every quarterly change

Quarter Action Shares change Est. value change Δ Own Shares held Filing date
Q1 2026 Reduced −26K −$4.6M −95.6% 1K May 15, 2026
Q4 2025 Reduced −127K −$20M −82.1% 28K Feb 13, 2026
Q3 2025 Reduced −39K −$6.6M −20.3% 154K Nov 13, 2025
Q2 2025 Added +96K +$17M +99.1% 194K Aug 13, 2025
Q1 2025 Reduced −256K −$36M −72.5% 97K May 14, 2025
Q4 2024 Added +210K +$26M +145.7% 353K Feb 13, 2025
Q3 2024 Reduced −139K −$16M −49.2% 144K Nov 13, 2024
Q2 2024 Reduced −116K −$11M −29.1% 283K Aug 14, 2024
Q1 2024 Reduced −584K −$54M −59.4% 399K May 14, 2024
Q4 2023 Added +98K +$9.0M +11.1% 983K Feb 14, 2024
Q3 2023 Added +71K +$6.8M +8.7% 885K Nov 13, 2023
Q2 2023 Added +368K +$35M +82.2% 815K Aug 11, 2023
Q1 2023 Added +173K +$17M +63.4% 447K May 12, 2023
Q4 2022 Reduced −140K −$13M −33.9% 274K Feb 13, 2023
Q3 2022 Added +386K +$37M +1,383.7% 414K Nov 10, 2022
Q2 2022 Reduced −600K −$61M −95.6% 28K Aug 11, 2022
Q1 2022 Added +365K +$36M +138.7% 627K May 13, 2022
Q4 2021 Added +191K +$18M +264.4% 263K Feb 14, 2022
Q3 2021 New +72K +$7.3M – 72K Nov 12, 2021
Data through Q1 2026 · filed May 15, 2026
19 grouped rows from 19 quarters

Who else owns PM

Capital World Investors
owns 8.6% of shares outstanding
Est. $22.1B · Shares: 133.5M

Capital Research Global Investors
owns 5.1% of shares outstanding
Est. $13.2B · Shares: 79.8M

Capital International Investors
owns 4.7% of shares outstanding
Est. $12.0B · Shares: 72.8M

JPMorgan Chase & Co
owns 3.3% of shares outstanding
Est. $8.5B · Shares: 51.6M

See all owners of PM →

More Dalio positions

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$812M
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Alphabet Inc.(GOOGL)
$562M
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Broadcom Inc.(AVGO)
$568M
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Micron Technology, Inc.(MU)
$499M
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Microsoft Corporation(MSFT)
$402M
1.8% of portfolio

Common questions

Does Ray Dalio own PM?

Yes. As of Q1 2026, Ray Dalio disclosed 1K shares of PM, worth $202K. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

When did Ray Dalio buy PM?

Ray Dalio first disclosed a PM position in Q3 2021; every quarterly buy and sell since is in the table above. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

Did Ray Dalio sell PM?

The quarter-by-quarter table above shows each sale and reduction Ray Dalio disclosed in PM. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

How many shares of PM does Ray Dalio own?

Ray Dalio disclosed 1K shares of PM as of Q1 2026. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

What price did Ray Dalio pay for PM?

Ray Dalio's estimated average buy price for PM is $142.67, from quarter-average prices weighted by the shares added each quarter. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

How are the estimated trade prices calculated?

13F filings disclose quarter-end holdings, not trade dates or execution prices. These estimates use each covered quarter's average market price; the add average excludes the opening position and quarters without price data. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.