5 Best Counter Cyclical Stocks to Invest in

3. Philip Morris International Inc. (NYSE:PM)

Number of Hedge Fund Investors In Q4 2023: 68

Philip Morris International Inc. (NYSE:PM) is a tobacco major headquartered in Stamford, Connecticut. The firm is currently going all in with its smokeless tobacco products and is gearing up to launch one such product in Texas as the world starts to shift to eCigarettes.

Insider Monkey scoured through 933 hedge fund portfolios for their fourth quarter of 2023 shareholdings and found that 68 had bought the firm’s shares. Philip Morris International Inc. (NYSE:PM)’s largest hedge fund investor is Terry Smith’s Fundsmith LLP due to its $1.4 billion stake.

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