Core Insights - The Carillon Scout Mid Cap Fund's third-quarter 2025 investor letter highlights strong corporate earnings and AI infrastructure momentum as key drivers for the Russell Midcap Index's positive returns [1] - AppLovin Corporation (NASDAQ:APP) is emphasized as a significant holding, showcasing a one-month return of 5.83% and a 52-week gain of 74.74% [2][3] Company Performance - AppLovin Corporation reported a revenue increase of 68% year-over-year, reaching approximately $1.405 billion in Q3 2025 [4] - The stock closed at $653.00 per share on December 02, 2025, with a market capitalization of $220.68 billion [2] Market Position and Growth Potential - AppLovin is recognized for its advanced mediation and attribution platforms in mobile application advertising, with expectations for significant growth in its ecommerce advertising segment [3] - The rollout of AppLovin's self-serve model in October is anticipated to act as a meaningful catalyst for business growth [3]