diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4f0beacc..9e603182 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,12 @@
 # Optimizely Ruby SDK Changelog
 
+## 5.2.1
+December 17th, 2025
+
+### New Features  
+- Resolved issues with Holdout impression event handling and notification delivery. ([#382](https://github.com/optimizely/ruby-sdk/pull/382))  
+
+
 ## 5.2.0
 November 13th, 2025
 
diff --git a/lib/optimizely/version.rb b/lib/optimizely/version.rb
index 3883e0c7..af2eb8ff 100644
--- a/lib/optimizely/version.rb
+++ b/lib/optimizely/version.rb
@@ -17,5 +17,5 @@
 #
 module Optimizely
   CLIENT_ENGINE = 'ruby-sdk'
-  VERSION = '5.2.0'
+  VERSION = '5.2.1'
 end