Core Insights - Bailard Technology Strategy generated a net return of 9.36% in Q3 2025, underperforming compared to the S&P North American Technology Index (13.14%), Morningstar U.S. Open-End Technology Categories (11.64%), and Lipper Science and Technology Fund Index (11.19%) [1] - The quarter showed improved technology fundamentals driven by structural demand trends and evolving regulations across key verticals [1] Company Highlights - AppLovin Corporation (NASDAQ:APP) reported a one-month return of 14.54% and a 52-week gain of 112.96%, closing at $714.23 per share with a market capitalization of $241.588 billion on December 26, 2025 [2] - AppLovin's revenue increased by 68% year-over-year to approximately $1.405 billion in Q3 2025, driven by exceptional growth in mobile game advertising and programmatic AdTech [3] - The company is expanding into e-commerce markets, which strengthens its outlook into 2026 [3] Investment Sentiment - AppLovin Corporation is not among the 30 most popular stocks among hedge funds, with 110 hedge fund portfolios holding the stock at the end of Q3 2025, up from 109 in the previous quarter [3] - While AppLovin is recognized for its potential, certain AI stocks are considered to offer greater upside potential with less downside risk [3]

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]