Core Insights - Ariel Investments' "Ariel Focus Fund" reported a significant increase of 20.76% in the third quarter, outperforming the Russell 1000 Value Index and the S&P 500 Index [1] - The fund's performance was driven by the Federal Reserve's first rate cut, strong corporate earnings growth, and broadening market participation [1] Company Analysis: Fiserv, Inc. (NYSE:FI) - Fiserv, Inc. is a leading financial technology company providing payment and fintech services, with a market capitalization of $34.315 billion as of November 12, 2025 [2] - The stock experienced a one-month return of -46.84% and a 52-week decline of 69.80% [2] - Ariel Focus Fund views Fiserv as a best-in-class financial technology business with strong scale and cross-selling capabilities, despite recent stock pressure due to concerns over Clover volumes [3] - The deceleration in Clover volumes is attributed to one-time items, with expectations for growth to accelerate later in the year [3] Hedge Fund Interest - Fiserv, Inc. was held by 94 hedge fund portfolios at the end of the second quarter, an increase from 72 in the previous quarter [4] - Despite the potential of Fiserv, the company believes certain AI stocks may offer greater upside potential and less downside risk [4]

Core Insights - Renaissance Investment Management's Q3 2025 "Large Cap Growth Strategy" investor letter indicates that stock prices continued to rise, with the S&P 500 reaching all-time highs in September, while the strategy underperformed its benchmarks [1] Company Performance - Fiserv, Inc. (NYSE:FI) experienced a one-month return of -3.00% and a 52-week decline of 37.18%, closing at $126.54 per share with a market capitalization of $68.786 billion as of October 27, 2025 [2] - The company lowered its organic growth and operating margin targets for the year, which contributed to its stock decline in the quarter [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, indicating growing interest among institutional investors [4] Financial Performance - In Q2 2025, Fiserv, Inc.'s adjusted revenue grew by 8% to $5.2 billion, showcasing its revenue-generating capabilities despite recent stock performance challenges [4]