Blue Whale adds Philip Morris to top ten amid push for 'smoke-free world'

Focus on alternative nicotine products

The Blue Whale Growth fund has added Philip Morris to its top ten holdings, following a "transformation" of the business.

In its latest factsheet, the Blue Whale fund acknowledged that the stock has "its roots in traditional cigarettes", but said that it has transformed to become a global pioneer in the transition to a "healthier, smoke-free world". It has created alternative nicotine products, which comprise around 40% of Philip Morris' revenue. Blue Whale prepared to sell long-term holding Adobe if it fails to tackle 'AI opportunity' Additionally, Blue Whale highlighted that the company was added to the Dow Jones Sustainability World index last year, "in recognition of its efforts to improve world h...