Fiserv (FI) Slid on Slower Growth in Its Merchant Acceptance Segment

Market Overview - The stock market experienced significant volatility in Q2 2025, with the S&P 500 reaching an all-time high by the end of June despite a 7% drop from April 2 to April 7 due to the liberation day tariff announcement [1] - The market rebounded, gaining over 22% from the April 7 low through the end of June [1] - The Russell 1000 Growth returned 17.8% and the S&P 500 returned 10.9% in the quarter, with large caps outperforming small caps and growth outperforming value [1] Renaissance Large Cap Growth Strategy Performance - The strategy outperformed the S&P 500 Index but underperformed the Russell 1000 Growth benchmark during the quarter [1] Fiserv, Inc. (NYSE:FI) Performance - Fiserv, Inc. had a one-month return of 3.09% but lost 20.88% of its value over the last 52 weeks, closing at $136.41 per share with a market capitalization of $74.15 billion on September 09, 2025 [2] - Fiserv was the largest detractor from portfolio performance in Q2 2025, despite organic revenue growth exceeding expectations [3] - The underperformance was attributed to slowing growth in its merchant acceptance segment, particularly in the Clover cloud-based point-of-sale product [3] - The company showed stability in its core merchant segment, with expectations for Clover to reaccelerate growth in the second half of the year [3] Hedge Fund Interest - Fiserv, Inc. was held by 94 hedge fund portfolios at the end of Q2 2025, an increase from 72 in the previous quarter [4]