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An IPO Pro Buys More Palantir, Rivian, and Kenvue. It Sold Li Auto.

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Renaissance Capital LLC’s passive IPO-focused ETFs loaded up on Palantir, Rivian, and Kenvue stock, and exited an investment in Li Auto in the third quarter.

A firm that specializes in initial-public-offering research and money management made some major moves in the third quarter.

Renaissance Capital exited its Li Auto investment in the third quarter simply because the three-year window closed on the Chinese electric-vehicle maker’s July 2020 IPO. It had 205,751 Li Auto American depositary receipts at the end of June and sold them all by the end of September. Renaissance Capital bought 135,418 more Rivian shares in the third quarter to lift its investment to 335,574 shares. It also bought 221,221 more Palantir shares to end the quarter with 948,588 shares.

 

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