Kenneth Dart, the billionaire investor based in the Cayman Islands, has increased his stake in British American Tobacco PLC, according to a stock exchange filing.
Dart, heir to the eponymous plastic-cup fortune, now owns more than 10% of the London-based maker of Dunhill, Lucky Strike and Pall Mall cigarettes, the filing shows.
He separately owns about 6% of rival tobacco firm Imperial Brands PLC.
Shares in BAT plunged last week after it wrote down the value of its tobacco assets and said revenue would be at the low end of expectations.
Shares in BAT are down 0.3%.