Renaissance Investment Management (hereafter “Renaissance”, the “Firm, “we”, “us”, “our”) is registered as an investment adviser under the Investment Advisers Act of 1940 and actively manages portfolios for a variety of institutions and individuals. We provide investment management services, and our efforts focus on delivering competitive long-term performance across a variety of asset classes and strategies. Our primary mission is to help our clients achieve their financial and investment objectives by providing systematic and disciplined investment strategies. Renaissance has been in business since 1978 and is located in Covington KY. As of this filing, we have 17 employees. As of December 31, 2023, we had approximately $2.5 billion in assets under management, which includes discretionary accounts and non-discretionary UMA (Unified Managed Account) Program assets. We serve as an investment adviser or sub-adviser to a variety of client types. Please see “Item 7 – Types of Clients” for more information regarding our clients. Principal Ownership Renaissance’s principal owner is Affiliated Managers Group (“AMG”). The remaining minority interest is owned by our associates who are Partners of Renaissance. AMG holds a majority equity interest in Renaissance and is a publicly traded asset management company (NYSE: AMG) with equity investments in boutique investment management firms. AMG also holds equity interests in other investment management firms (“AMG Affiliates”). Further information about AMG and AMG’s Affiliates is provided in “Item 10 – Other Financial Industry Activities and Affiliations.” Types of Advisory Services Renaissance specializes in domestic equity, international equity, REIT, balanced, asset allocation and fixed income strategies across all market capitalization ranges. Our clients include institutional clients, Taft Hartley clients, individuals, high net worth clients, ERISA, public clients, Wrap/SMA (Separately Managed Account) programs, and model based (Unified Managed Account “UMA”) programs. Our stock portfolio construction process starts by using a system of computer-generated screens that look for companies with favorable characteristics that we believe will lead to further price appreciation. These characteristics include earnings growth rates, attractive valuation, and rising estimate revisions. We then conduct fundamental analysis, which involves looking at company financial statements, management, strengths and weaknesses, market conditions and competitive advantages to make our final stock selection. Our bond portfolios are typically comprised of U.S. Treasury and Credit issues, and/or select fixed income ETFs and/or mutual funds, including those that invest in international and high yield bonds. For further information regarding our investment strategies and investment process, please refer to “Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss.” We provide both discretionary and non-discretionary investment management services to institutional and individual investors. Discretionary Services: We provide discretionary services, which means we can direct the purchase and sale of securities in the portfolio. We provide this investment direction to the following:
• individually managed accounts where we act as an adviser;
• accounts within broker-dealer sponsored Wrap/SMA platforms where we act as sub-advisor;
• mutual funds where we act as a sub-advisor; or,
• UMA programs that have given us discretion over a strategy(s) in their UMA program. Non-Discretionary Services: We also provide non-discretionary investment advice to Unified Managed Account Programs (“UMA Programs”). We provide the UMA Sponsor, who is the discretionary investment manager, with a list of securities to be traded on an ongoing basis for each individual strategy that is part of the UMA Program. In these instances, the discretionary UMA Sponsor is responsible for monitoring the individual needs of the client In non-discretionary UMA Programs, we summit our model portfolio changes (e.g., buys and/or sells) to the UMA Sponsor. We do not have direct contact with the clients of these programs. Financial Planning or Implementation Services: Renaissance does not provide financial planning or related consulting services regarding non-investment related matters, such as estate planning, tax planning, insurance, etc. Please Note: We do not serve as an attorney, accountant or insurance agency, and no portion of our services should be construed as such. Accordingly, we do not prepare estate-planning documents, tax returns or sell insurance products. Tailoring Advisory Services to Client Needs As an asset manager for institutional, individual, Wrap/SMA and non-discretionary clients, Renaissance recognizes that each client is unique. Therefore, we can modify our primary investment strategies to meet client specific goals, investment objectives and/or restrictions. Direct-Managed Clients: Direct-managed clients are Renaissance clients that are not sub-advised. All direct-managed clients must complete and sign an Investment Advisory Agreement when they open an account with Renaissance. The Investment Objective Questionnaire details their investment objectives, total investable assets and any investment restrictions affecting the management of their account. Direct-managed clients can also provide their own Investment Policy Statement to Renaissance. All direct-managed clients are responsible for providing Renaissance with any changes to their Investment Objective Questionnaire and/or Investment Policy Statement as changes occur in order for Renaissance to implement any changes if needed. Renaissance annually requests that clients provide any changes to their investment restrictions, objectives, risk tolerance or financial condition in our annual ADV offer letter. Renaissance assumes it manages only a minority portion of a client’s assets unless the client states otherwise on the Investment Objective

Questionnaire. Renaissance will not be able to obtain a holistic view of whether the amount of money the client has invested in a particular Renaissance strategy is suitable for their overall investment objectives. Renaissance does not maintain information on a client’s age or a list of strategies that clients are invested in with other investment managers. The client is responsible for ensuring that their total portfolio is diversified to meet their investment needs. Client Obligations: In performing our services, Renaissance is not required to verify any information received from the client or from the client’s representative (e.g., financial adviser/consultant), and we are expressly authorized to rely upon that information. Clients are advised that it remains their responsibility to notify Renaissance promptly if there is any change in their financial situation, investment objectives, investment restrictions or risk tolerance for the purpose of possibly revising our previous recommendations and/or services. Wrap/SMA Programs/Clients: “Wrap arrangements,” “wrap fee programs,” and/or “wrap sponsor accounts” involve individually managed accounts for individual or institutional clients. These accounts are offered as part of a larger program by a “sponsor,” usually a brokerage, banking, or investment advisory firm, and are managed by one or more investment advisers. Renaissance has agreements with wrap fee program sponsors that offer our services as an investment option within the sponsor’s wrap program. We provide investment management services to clients who select us as part of the program. As described in “Item 5 – Fees and Compensation,” the sponsor pays a portion of its program fee to us for our services. Our management of wrap accounts and other accounts under the same investment strategy is consistent among accounts unless the account is being managed with tax considerations and/or there are client-imposed restrictions.
• Wrap/SMA Sponsor Clients: Wrap/SMA program clients sign an agreement with the Wrap/SMA Sponsor that details their investment objectives, the chosen investment strategy and any investment restrictions affecting our management of the client’s account. The Wrap/SMA Sponsor provides Renaissance with access to any investment restrictions, Investment Policy Statements, risk tolerances and/or financial objectives for the underlying client via the Wrap/SMA Sponsor’s platform. The Renaissance contract with the Wrap/SMA Sponsor outlines whether it is Renaissance’s or the Wrap Sponsor’s responsibility to code client restrictions in each platform. If Renaissance is responsible for coding client restrictions, it is the Wrap/SMA Sponsor or Wrap/SMA client’s authorized representative’s responsibility to communicate the client’s initial and updated investment restrictions, Investment Policy Statements, risk tolerances or financial objectives to Renaissance so the account can be updated accordingly. We cannot necessarily offer the same level of portfolio customization to Wrap/SMA clients that we offer to our direct- managed clients invested in the same strategy. However, Wrap/SMA clients can customize their portfolios by applying reasonable investment restrictions on their account to the extent that the Wrap/SMA Sponsor is able or allows us to code the restriction on their platform. UMA Program Clients: The UMA Sponsor is responsible for coding and maintaining all client information (e.g., investment objectives, collecting, updating, and monitoring UMA client investment restrictions, etc.). Customization: We can customize any of our strategies to meet a client’s specific objectives and/or constraints. Direct-managed clients with taxable accounts can be managed to minimize the tax impact of capital gains. Taxable client accounts in a Fixed Income Strategy can be managed to minimize the tax impact of interest income. These modifications of our buy/sell disciplines and other appropriate investment techniques can result in an increase or decrease in a client’s performance as compared to non-taxable/customized accounts invested in the same strategy. Tax Harvesting Policy Renaissance allows clients to take advantage of Tax Harvesting opportunities for taxable client accounts that wish to do so.
• Direct-Managed Clients: We endeavor to comply with requests made within a reasonable period before the end of the calendar year.
• Wrap/SMA Clients: Wrap/SMA program clients can be subject to specific guidelines imposed by the Wrap/SMA program, which can differ on a program-by-program basis. Renaissance uses the custodian’s accounting method for taxable accounts. If a client wants their custodian to use a particular tax lot accounting method, it is the client’s responsibility to notify the custodian of their wishes. The custodian is the official reporter for tax purposes. Our policy is to invest the proceeds from tax harvesting sales in exchange traded funds (“ETFs”) for a minimum of 30 days unless a client or their representative directs Renaissance otherwise. Assets Under Management As of December 31, 2023, we had the following assets under management. ASSETS Discretionary Assets $2,538,177,212 Non-Discretionary Assets $0.00 Total Assets $2,538,177,212 Non-Discretionary Assets include UMA programs for which Renaissance does not have investment discretion and does not execute the trades. We do provide each program with an updated Buy List of securities whenever a change is made to the Buy List for one of our strategies that has clients participating in a UMA program. We also inform the UMA program when their program is up in our trading rotation and what percentage of the UMA portfolio should be invested in each security. The discretionary UMA program decides whether to implement our model change recommendation. The Non-Discretionary assets reported in our Form ADV Part 1A – Item 5.F differs from the Non- Discretionary assets reported in the table above due to UMA programs not meeting the Non- Discretionary asset test for Regulatory Assets Under Management under Form ADV Part 1.