Renaissance Capital Bets Big on Tylenol and Kenvue (KVUE) By Purchasing Over 351,000 Shares
Key Points
Renaissance Capital bought 351,259 additional shares of Kenvue; estimated trade value of approximately $7.17 million, based on the average price in Q3 2025
This trade represented 4.02% of Renaissance Capital LLC’s reportable AUM in Q3 2025
Post-trade stake: 980,436 shares, valued at $15.91 million in Q3 2025
Kenvue now accounts for 8.92% of fund AUM in Q3 2025, making it the 2nd-largest holding
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What happened
According to a filing with the U.S. Securities and Exchange Commission dated October 20, 2025, Renaissance Capital LLC increased its position in Kenvue by 351,259 shares in Q3 2025. The estimated value of the shares acquired, based on the average closing price for the quarter, was approximately $7.17 million. The fund reported holding 980,436 shares at quarter-end.
What else to know
This purchase increased the Kenvue position to 8.9% of 13F reportable AUM as of September 30, 2025
Top holdings after the filing:
NYSE: RDDT: $16.84 million (9.4% of AUM) as of September 30, 2025
NYSE: KVUE: $15.91 million (8.9% of AUM) as of September 30, 2025
ALAB: $15.88 million (8.9% of AUM) as of September 30, 2025
NASDAQ: ARM: $14.73 million (8.3% of AUM) as of September 30, 2025
NASDAQ: NXT: $9.29 million (5.2% of AUM) as of September 30, 2025
As of October 20, 2025, Kenvue shares were priced at $14.96, down 34.7% for the year ending October 20, 2025
One-year alpha versus the S&P 500: (42.96) percentage points for the year ending October 20, 2025
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $15.14 billion |
| Net Income (TTM) | $1.42 billion |
| Dividend Yield | 5.50% |
| Price (as of market close 10/20/25) | $14.96 |
Company Snapshot
Kenvue offers a diverse portfolio of consumer health products, including over-the-counter medicines, skin care, beauty, oral care, and wound care under brands such as Tylenol, Neutrogena, Listerine, and Band-Aid.
Generates revenue primarily through the sale of branded consumer health products across three segments: Self Care, Skin Health and Beauty, and Essential Health, leveraging global distribution and established brand recognition.
Targets mass-market consumers worldwide, with a focus on individuals seeking trusted health, wellness, and personal care solutions.
Kenvue is a global consumer health company with significant scale, operating across multiple high-profile brands in the over-the-counter and personal care categories. It has a diversified product portfolio.
Foolish take
Renaissance Capital's bet on Kenvue is a bold one. The stock has performed poorly since the consumer health business spun off from Johnson & Johnson in 2023. At recent prices, the stock has lost about 45% of its value since its market debut a couple of years ago.
Sales of branded consumer goods tend to rise steadily, but that isn't what investors have seen with Kenvue. Sales during the first half of 2025 declined by 4% year over year. Instead of a gain this year, management expects total revenue to decline by a low single-digit percentage this year.
Kenvue is not taking its revenue decline lying down. In July, the company sacked its CEO and hired a new one. The board of directors also told investors it was exploring strategic alternatives to unlock shareholder value. Finding a buyer for its Tylenol brand might be extra challenging at the moment, but this isn’t the company’s only asset. It also markets brands like Listerine, Zyrtec, and Neutrogena.
Glossary
AUM: Assets Under Management – The total market value of investments managed by a fund or firm.
13F: A quarterly report filed by institutional investment managers to disclose their equity holdings to the SEC.
Alpha: A measure of an investment's performance compared to a benchmark, indicating excess return or underperformance.
Stake: The amount of ownership or shares held in a company by an investor or fund.
Quarter-end: The last day of a fiscal quarter, used for reporting financial or investment positions.
Dividend Yield: Annual dividends paid by a company divided by its share price, shown as a percentage.
TTM: The 12-month period ending with the most recent quarterly report.
Over-the-counter medicines: Medications available without a prescription, typically for common health issues.
Branded consumer health products: Health and wellness products sold under recognized brand names directly to consumers.
Global distribution: The process of selling and delivering products to customers worldwide.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Kenvue. The Motley Fool recommends Johnson & Johnson and recommends the following options: long January 2026 $13 calls on Kenvue. The Motley Fool has a disclosure policy.
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