diff --git a/CHANGELOG.md b/CHANGELOG.md
index c4c12dda..66d9bf61 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,14 @@
 # Optimizely Ruby SDK Changelog
 
+## 5.5.0
+September 2, 2026
+
+### New Features
+
+**Holdout Targeted Delivery Exclusion**: Holdouts can now be configured to exclude Targeted Delivery rules, so users held out of experiments still receive their Targeted Delivery experiences. This gives you a cleaner measure of experiment impact without holding users back from ongoing rollouts.
+
+- Add holdout exclusion logic for Targeted Delivery rules ([#405](https://github.com/optimizely/ruby-sdk/pull/405))
+
 ## 5.4.0
 July 8, 2026
 
diff --git a/lib/optimizely/version.rb b/lib/optimizely/version.rb
index 918b0c5b..06ca020f 100644
--- a/lib/optimizely/version.rb
+++ b/lib/optimizely/version.rb
@@ -17,5 +17,5 @@
 #
 module Optimizely
   CLIENT_ENGINE = 'ruby-sdk'
-  VERSION = '5.4.0'
+  VERSION = '5.5.0'
 end
diff --git a/spec/spec_helper.rb b/spec/spec_helper.rb
index f9dd1dcb..9d9f20fa 100644
--- a/spec/spec_helper.rb
+++ b/spec/spec_helper.rb
@@ -15,8 +15,10 @@
 #    See the License for the specific language governing permissions and
 #    limitations under the License.
 #
-require 'coveralls'
-Coveralls.wear!
+if ENV['COVERALLS_REPO_TOKEN']
+  require 'coveralls'
+  Coveralls.wear!
+end
 $LOAD_PATH.unshift File.expand_path('../lib', __dir__)
 require 'optimizely'
 require 'spec_params'