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, with the Russell 1000 Growth returning 17.8% and the S&P 500 returning 10.9% in the quarter [1] - Large-cap stocks significantly outperformed small-cap stocks, and growth stocks outperformed value stocks [1] Renaissance Large Cap Growth Strategy Performance - The strategy outperformed the S&P 500 Index but underperformed the Russell 1000 Growth benchmark [1] Company Spotlight: Comfort Systems USA, Inc. (NYSE:FIX) - Comfort Systems USA, Inc. reported a one-month return of 4.78% and a 52-week gain of 120.22%, closing at $709.53 per share with a market capitalization of $25.954 billion on September 09, 2025 [2] - The company demonstrated solid quarterly operating results, indicating an acceleration in organic revenue growth and highlighting incremental margin opportunities [3] - Backlog growth is accelerating, and management emphasized a new business pipeline, addressing concerns about slowing demand for data center construction, service, and maintenance [3] Financial Performance - In Q2 2025, Comfort Systems USA, Inc. reported revenue of $2.2 billion, an increase of $363 million or 20% compared to the previous year [4] - The company was held by 53 hedge fund portfolios at the end of Q2 2025, up from 48 in the previous quarter [4]