I buy whole beef tenderloins.  They require trimming before cooking.  You'll find "How To" videos on the Internet.  It's not difficult. 
Your knife—the sharper, the better.


As I trim, I separate the throw-away silver skin from the quality meat that makes excellent stir-fry, amazing stew or better than average beef stroganoff.  I dice it as I trim it.  The finished tenderloin will be ~2/3 of the original weight (estimate).


Trimmed


Seasoned


Smoke it as cool as possible until its internal temperature is ~20°F of your desired serving temperature.


Sear it on your direct zone or on your gasser.  Sear it as fast as you can to keep from overcooking the middle.


Cover it in foil and let it rest for about 15 minutes or as long as you can tolerate.  It'll continue cooking somewhat as the exterior heat from searing conducts to the middle.  The nice part about the tenderloin is that it's tapered.  The middle cuts will be rare, the thick end will be medium rare and the small end will be medium well.  If that doesn't work for your guests then you can cut the tenderloin into three pieces and cook them to the desired doneness by monitoring each individual piece's internal temperature.  (That isn't a dinner plate, it's a huge serving plate.  That tenderloin is still about 18" long.)


Carved for serving.

Looks wonderful and a great step-by-step method.  Thanks.

Paul,

What smoke temp do you use? Are going down to 175, the PG's lowest temp? Have you ever done phase of in the warming drawer? .... Looks tasty!

That makes me sad. I've never seen a beef tenderloin in a store around here. 

Paul,

What smoke temp do you use? Are going down to 175, the PG's lowest temp? Have you ever done phase of in the warming drawer? .... Looks tasty!

I just smoke as low as I can get the pit to go.  I've not used the warming drawer, but I think I will.


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That makes me sad. I've never seen a beef tenderloin in a store around here. 

Don't you have Cash & Carry stores around you?  They always have them in the Bay Area stores.

I thought you lived very close to the Birthplace of Costco?  You will find them there! I believe you embrace the Cheap Screw philosophy like me...they are a Stinking $12/lb...but worth it about twice a year!

That makes me sad. I've never seen a beef tenderloin in a store around here. 

Looks great,  The sear zones on some of these pellet grills are fantastic.

Looks as good as it gets 

Looking at these for a 2nd time, they are the largest, longest and most uniform Tenderloins I think I have ever seen.

Thank you for posting. That looks great! Our family plans for Christmas got messed up, so we won't all celebrate together until the 18th of January. My mom said she wants to have beef tenderloin. We will probably have about 14 people, how many tenderloins do you think I would need?

I don't think one will serve 14 people with ¾-inch slices.  If you cook two, you'll have a cushion to allow big eaters to take a second helping and you'll have great leftovers.