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A copy of the letter can be downloaded here. U.S. small/mid-cap equities reported solid results in the third quarter, driven by a favorable macroeconomic backdrop. In the third quarter, the strategy delivered a return of 2.57% net of fees (3.07% gross of fees), underperforming the 9.00% total return of the Russell 2500 Index. For more information on the fund’s best picks in 2025, please check its top five holdings.In its third-quarter 2025 investor letter, Aristotle Capital Small/Mid Cap Equity Strategy highlighted stocks such as Alamos Gold Inc. (NYSE:AGI). Alamos Gold Inc. (NYSE:AGI) is a gold producer that primarily explores for gold deposits. The one-month return of Alamos Gold Inc. (NYSE:AGI) was -11.37%, and its shares gained 53.11% of their value over the last 52 weeks. On October 31, 2025, Alamos Gold Inc. (NYSE:AGI) stock closed at $30.79 per share, with a market capitalization of $13.01 billion.Aristotle Capital Small/Mid Cap Equity Strategy stated the following regarding Alamos Gold Inc. (NYSE:AGI) in its third quarter 2025 investor letter:"Alamos Gold Inc. (NYSE:AGI), engages in the exploration, development, mining and extraction of precious metals. The company benefited from rising gold prices as investors purchased the commodity as an inflation hedge. We maintain our investment as we believe in the company’s lower geopolitical risk profile, solid production growth plan from 600k oz to 1M oz per year over the next five years, and strong operational track record."Why Alamos Gold Inc. (AGI) Went Up On Thursday?Alamos Gold Inc. (NYSE:AGI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 38 hedge fund portfolios held Alamos Gold Inc. (NYSE:AGI) at the end of the second quarter, compared to 50 in the previous quarter. During the third quarter, Alamos Gold Inc. (NYSE:AGI) sold around 136,500 ounces of gold, at an average realized price of $3,359 per ounce, which resulted in record revenues of $462 million. While we acknowledge the potential of Alamos Gold Inc. (NYSE:AGI) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.In another article, we covered Alamos Gold Inc. (NYSE:AGI) and shared the list of best gold stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,773.75 -28.00 (-0.41%)Dow Futures47,162.00 -52.00 (-0.11%)Nasdaq Futures25,411.75 -163.50 (-0.64%)Russell 2000 Futures2,428.90 -8.60 (-0.35%)VIX19.00 +1.83 (+10.66%)Gold3,941.80 -18.70 (-0.47%)PortfolioSign in to access your portfolioSign inTop gainersHTZ Hertz Global Holdings, Inc. 6.73 +1.79 (+36.23%)XMTR Xometry, Inc. 62.62 +14.05 (+28.93%)PAY Paymentus Holdings, Inc. 36.10 +7.49 (+26.18%)MTSR Metsera, Inc. 73.18 +12.45 (+20.50%)SANM Sanmina Corporation 163.58 +23.24 (+16.56%)Top losersDGNX Diginex Limited 18.25 -5.38 (-22.77%)NCLH Norwegian Cruise Line Holdings Ltd. 18.79 -3.39 (-15.28%)NVTS Navitas Semiconductor Corporation 10.46 -1.79 (-14.61%)ZTS Zoetis Inc. 124.46 -19.89 (-13.78%)WRD WeRide Inc. 9.41 -1.50 (-13.72%)Most activeNVDA NVIDIA Corporation 198.69 -8.19 (-3.96%)PFE Pfizer Inc. 24.30 -0.36 (-1.46%)HTZ Hertz Global Holdings, Inc. 6.73 +1.79 (+36.23%)PLTR Palantir Technologies Inc. 190.74 -16.44 (-7.94%)GRAB Grab Holdings Limited 5.79 -0.28 (-4.70%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersAMD Advanced Micro Devices, Inc. 250.05 -9.60 (-3.70%)BTC-USD Bitcoin USD 100,351.43 -6,167.21 (-5.79%)SMCI Super Micro Computer, Inc. 47.40 -3.35 (-6.60%)UPST Upstart Holdings, Inc. 46.24 -1.30 (-2.73%)RIVN Rivian Automotive, Inc. 12.50 -0.69 (-5.23%)Top economic events