Group 1: Market Performance - In the third quarter of 2025, small-cap equities performed well, with the Russell 2000 Index reaching its first all-time high since November 2021, driven by a favorable macroeconomic backdrop [1] - The Aristotle Small Cap Equity Fund (Class I-2) delivered a return of 3.16%, underperforming the Russell 2000 Index's total return of 12.39% [1] Group 2: Company Overview - Mercury Systems, Inc. - Mercury Systems, Inc. (NASDAQ:MRCY) is a technology company with a market capitalization of $4.14 billion, specializing in components and products for the aerospace and defense industries [2] - The company reported a one-month return of 3.30% and a significant 73.50% increase in share value over the last 52 weeks, closing at $68.88 per share on December 18, 2025 [2] Group 3: Financial Performance and Outlook - Mercury Systems, Inc. reported strong earnings that exceeded analyst expectations, benefiting from its position as a supplier to the defense sector [3] - The company has a current order backlog of $1.4 billion, which is expected to contribute to future revenue growth, alongside increased national defense spending [3] - In the fiscal first quarter of 2026, Mercury Systems generated revenue of $225 million, reflecting a year-over-year increase of 10.2% [4] Group 4: Hedge Fund Interest - Mercury Systems, Inc. was held by 26 hedge fund portfolios at the end of the third quarter, a decrease from 28 in the previous quarter [4]