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Renaissance International Small Cap Equity Strategy Sold Fidelis Insurance Holdings Limited (FIHL) in Q3

Renaissance Investment Management, an investment management company, released its Q3 2025 “International Small Cap Equity Strategy” investor letter. A copy of the letter can be downloaded here. International equities posted their third consecutive quarter of positive returns, maintaining a successful trend and heading toward their best year since 2017. The portfolio posted positive returns in the quarter on a relative basis, outperforming the benchmark in the quarter. For more information on the fund’s best picks in 2025, please check its top five holdings.

In its third-quarter 2025...