Aristotle Small Cap Equity Q1 2025 Commentary

Summary

• For Q1 2025, Aristotle Small Cap Equity Composite posted a total return of -7.34% net of fees (-7.20% gross of fees), beating the -9.48% total return of the Russell 2000 Index.
• The volatility observed throughout 2024 persisted into the first quarter of 2025.
• We continue to remain optimistic about the long-term potential for the small-cap segment of the U.S. market.

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Markets Review

The volatility observed throughout 2024 persisted into the first quarter of 2025. The Russell 2000 Index approached correction territory with a loss of -9.48% for the quarter, following a solid 2024 with the index returning 11.54%. After a moderately positive