On July 1, Alan McKnight, the CIO at Regions Wealth Management, appeared on CNBC to explain how his biggest worry is currently centered around uncertainty, which he believes leads to volatility. He pointed to the situation in Washington and ongoing trade policy discussions as examples. McKnight emphasized that businesses and investors desire clarity to allocate capital going forward. However, at the same time, McKnight has shown a lot of interest in mid-cap stocks. He noted that mid-caps had taken a bit longer to gain momentum. From an earnings growth perspective, mid-caps and large-caps were almost on par. However, he contended that the current valuation disparity did not accurately reflect the future opportunity in mid-caps. McKnight predicted that as the year progressed and into the next year, mid-cap companies with strong balance sheets and earnings growth comparable to large-caps should begin to receive a valuation more in line with their large-cap counterparts.
McKnight further clarified his position and stated that if mid-cap valuations increased from 17x earnings to somewhere between 20x and 21x earnings, investors would benefit. He reasoned that earnings would at least begin to grow and lead to growth in both valuation and earnings for mid-caps. Conversely, he believed that large-caps had limited room for valuation expansion, finding it difficult to justify higher valuations, particularly in certain sectors, such as the MAG7.
That being said, we’re here with a list of the 12 best performing mid cap stocks so far in 2025.
A young professional in a suit examining stocks on a tablet computer in a mid-town office building.
Methodology
We sifted through the Finviz stock screener to compile a list of the best-performing mid-cap stocks that were trading between $2 billion and $10 billion. We then picked the top 11 stocks with the highest year-to-date performance, as of July 16. The stocks are ranked in ascending order of their year-to-date performance. We’ve also added the hedge fund sentiment for each stock, which was sourced from Insider Monkey’s database.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
11 Best Performing Mid Cap Stocks So Far In 2025
11. Soleno Therapeutics Inc. (NASDAQ:SLNO)
Number of Hedge Fund Holders: 58
Market Capitalization as of July 16: $4.41 billion
Year-to-Date Performance as of July 16: 85.96%
Soleno Therapeutics Inc. (NASDAQ:SLNO) is one of the best performing mid cap stocks so far in 2025. On July 10, Soleno Therapeutics announced that the sales of its new Prader-Willi disease drug, called Vykat XR, are exceeding Wall Street expectations. Vykat XR is the first approved treatment for the insatiable hunger associated with Prader-Willi syndrome and was approved in the US on March 26 earlier this year.
For the three months ending June 30, Soleno anticipates net revenue from Vykat XR sales to be between $31 and $33 million. Since its approval, the company has received ~646 “start forms” from 295 physicians, which shows strong initial demand. While the quarterly performance review is ongoing and estimates could change, Stifel analyst James Condulis noted that these preliminary numbers are well-above investor expectations.
Prader-Willi syndrome is a rare genetic condition that affects an estimated 10,000 to 20,000 people in the US, characterized by behavioral and cognitive symptoms, most notably an all-consuming hunger (hyperphagia). Before Vykat XR, the management of the disease typically involved supportive care and human growth hormone.
Soleno Therapeutics Inc. (NASDAQ:SLNO) is a clinical-stage biopharmaceutical company that develops and commercializes novel therapeutics for the treatment of rare diseases.
10. Gogo Inc. (NASDAQ:GOGO)
Number of Hedge Fund Holders: 19
Market Capitalization as of July 16: $2.06 billion
Year-to-Date Performance as of July 16: 92.21%
Gogo Inc. (NASDAQ:GOGO) is one of the best performing mid cap stocks so far in 2025. On June 24, Gogo confirmed that its Gogo C1 Line Replaceable Unit/LRU received Supplemental Type Certification/STC for 42 aircraft models. The certification was granted by the Federal Aviation Administration/FAA through an Approved Model List/AML and ensures continued in-flight connectivity for ~70% of Gogo’s legacy air-to-ground/ATG customers in North America.
The Gogo C1 LRU facilitates a seamless transition for current customers using legacy ATG 1000, 2000, 4000, or 5000 systems to Gogo’s upcoming LTE network upgrade. The Gogo C1 LRU is equipped with a dual-technology aircard that can connect to the existing network and will automatically switch to the new LTE network once it’s available.
The C1 has been engineered with external dimensions and attachment points that match legacy products. To encourage the timely adoption of the C1 installation, Gogo is offering a $35,000 installation incentive for customers who complete the upgrade before December 31 this year.
Gogo Inc. (NASDAQ:GOGO) provides broadband connectivity services to the aviation industry with a product platform that includes networks, antennas, and airborne equipment & software.
9. Kratos Defense & Security Solutions Inc. (NASDAQ:KTOS)
Number of Hedge Fund Holders: 17
Market Capitalization as of July 16: $8.51 billion
Year-to-Date Performance as of July 16: 93.78%
Kratos Defense & Security Solutions Inc. (NASDAQ:KTOS) is one of the best performing mid cap stocks so far in 2025. On June 16, Kratos announced that it is expanding its operations with a new advanced manufacturing facility in Bristow, Oklahoma. This is a 50,000-square-foot facility that is situated on 20 acres and is dedicated to producing Kratos’ GE Aerospace-Kratos/GEK family of turbojet engines, with a focus on the GEK800 model.
The company expects that the facility will eventually expand to 100,000 square feet and house up to 5 GEK engine production lines, with an initial annual output of 500 engines. Occupancy of the facility is expected in mid-2026, with full operations ramping up by Q4 2026.
The site will also include 3 small engine test cells, which are projected to be operational in 2027. The expansion is set to create new jobs, with the initial engine line creating 60 high-quality positions. Key recruitment for these roles will begin in late 2025, followed by general hiring in Q1 2026.
Kratos Defense & Security Solutions Inc. (NASDAQ:KTOS) is a technology company, provides technology, products, and system & software for the defense, national security, and commercial markets.
8. Tutor Perini Corporation (NYSE:TPC)
Number of Hedge Fund Holders: 27
Market Capitalization as of July 16: $2.57 billion
Year-to-Date Performance as of July 16: 101.78%
Tutor Perini Corporation (NYSE:TPC) is one of the best performing mid cap stocks so far in 2025. On July 2, Tutor Perini Corporation announced that its subsidiary, called Tutor Perini Building Corp., secured a contract valued at ~$220 million. It was awarded by the Tule River Gaming Authority for the Phase 2 Expansion of the Eagle Mountain Casino, located in Porterville, California.
The work for this project includes the construction of a new 193-room tower that will feature a rooftop restaurant. Additionally, the expansion will encompass a central warehouse and new offices, the enlargement of an existing restaurant, and a new 2,000-seat events center. The events center will offer convention space, breakout meeting rooms, and pre-function areas.
Work on the Eagle Mountain Casino Phase 2 Expansion is scheduled to commence in the summer of 2025, with substantial completion anticipated in 2027. The preconstruction phase award was already booked in Q2 2025, and subsequent construction phases are expected to be awarded by the customer later in 2025.
Tutor Perini Corporation (NYSE:TPC) is a construction company that provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide.
7. QuantumScape Corporation (NYSE:QS)
Number of Hedge Fund Holders: 26
Market Capitalization as of July 16: $6.06 billion
Year-to-Date Performance as of July 16: 109.06%
QuantumScape Corporation (NYSE:QS) is one of the best performing mid cap stocks so far in 2025. On June 24, QuantumScape announced the successful integration of its advanced Cobra separator process into baseline cell production. This represents a key 2025 goal and a step towards the commercialization of its battery technology.
The Cobra process forms the core of QuantumScape’s high-throughput and continuous-flow separator production platform. Compared to the previous-generation Raptor process, Cobra offers a 25x improvement in heat treatment speed and requires a fraction of the physical space per film start, which are advantages for designing a scalable gigafactory production line.
With Cobra now as the new baseline, QuantumScape aims to lay the groundwork for higher-volume B1 sample production. The company expects that future iterations of Cobra will continue to enhance these production metrics. QuantumScape expects to begin shipping QSE-5 B1 samples, which will be used for the testing phase of its launch program in 2026. The company also has a partnership with Volkswagen’s PowerCo subsidiary, which is licensed to produce up to 80 GWh/year of QuantumScape’s cells.
QuantumScape Corporation (NYSE:QS) develops and commercializes solid-state lithium-metal batteries for electric vehicles and other applications in the US.
6. Ascentage Pharma Group International (NASDAQ:AAPG)
Number of Hedge Fund Holders: 1
Market Capitalization as of July 16: $3.18 billion
Year-to-Date Performance as of July 16: 111.51%
Ascentage Pharma Group International (NASDAQ:AAPG) is one of the best performing mid cap stocks so far in 2025. On July 14, Ascentage Pharma Group announced the pricing of an offshore top-up placement. This placement involved 22 million ordinary shares, with a par value of $0.0001 per share, priced at HKD68.60 per share.
The shares were offered by Dajun Yang Dynasty Trust, which is an affiliate of Ascentage’s CEO, Dr. Dajun Yang, in an offshore transaction outside the US, targeting non-US persons. The aggregate gross proceeds from this placement are ~HKD1,509.2 million, or about $192.3 million, before deducting placing fees and other offering expenses.
Following the closing of the offshore placement, the Dajun Yang Dynasty Trust will subscribe for, and Ascentage Pharma will issue, 22 million new ordinary shares at the same price of HKD68.60 per share. The newly issued equity capital will represent approximately 6.29% of the company’s issued share capital before the offshore placement.
Ascentage Pharma Group International (NASDAQ:AAPG) is a clinical-stage biotechnology company that develops therapies for cancers, chronic hepatitis B virus, and age-related diseases in Mainland China.
5. Orla Mining Ltd. (NYSE:ORLA)
Number of Hedge Fund Holders: 18
Market Capitalization as of July 16: $3.83 billion
Year-to-Date Performance as of July 16: 112.64%
Orla Mining Ltd. (NYSE:ORLA) is one of the best performing mid cap stocks so far in 2025. On June 5, Orla Mining announced the initial underground Mineral Resource estimate for its Camino Rojo deposit in Zacatecas, Mexico. This estimate extends the mineralization down-plunge from the existing oxide open pit into the Camino Rojo Sulphides and the newly defined Zone 22.
The initial underground Mineral Resource estimate, effective March 31 this year, includes a Measured and Indicated Mineral Resource of 50.1 million tonnes (Mt) at an average grade of 2.45 grams per tonne (g/t) gold (Au), 10.6 g/t silver (Ag), and 0.25% zinc (Zn), equating to 2.58 g/t gold equivalent (AuEq). Contained metal totals 3.95 million ounces (Moz) gold, 17.05 Moz silver, and 278 million pounds (Mlbs) zinc, for a total of 4.16 Moz AuEq.
Orla is currently undertaking a 15,000-meter drilling program in 2025, with 11,000 meters drilled to date, aiming to upgrade and expand the upper part of the Zone 22 resource. This program is expected to conclude in Q3 2025. In November last year, Orla submitted permit applications to Mexico’s environmental agency, SEMARNAT, which include amendments for the existing oxide open pit and new requests for an underground portal and exploration drift.
Orla Mining Ltd. (NYSE:ORLA) acquires, explores, develops, and exploits mineral properties. It primarily explores gold, silver, zinc, lead, and copper deposits.
4. Oklo Inc. (NYSE:OKLO)
Number of Hedge Fund Holders: 23
Market Capitalization as of July 16: $8.91 billion
Year-to-Date Performance as of July 16: 187.09%
Oklo Inc. (NYSE:OKLO) is one of the best performing mid cap stocks so far in 2025. On July 15, Oklo announced that it has chosen Kiewit Nuclear Solutions Co. as the lead constructor for its first commercial Aurora powerhouse. This facility will be located in Idaho, specifically at the Idaho National Laboratory/INL.
Under a newly signed Master Services Agreement, Kiewit Nuclear Solutions Co., which is a subsidiary of Kiewit Corporation (one of North America’s largest construction and engineering organizations), will begin supporting the design, procurement, and construction of the Aurora-INL. Pre-construction activities are slated to commence in 2025, with commercial operations targeted for late 2027 to early 2028.
A portion of the Aurora powerhouse’s construction scope is non-nuclear, which allows Oklo to use Kiewit’s experience in large-scale industrial and infrastructure projects. Oklo is well-positioned for near-term deployment, possessing a US Department of Energy-approved site, secured fuel, and demonstrated regulatory progress.
Oklo Inc. (NYSE:OKLO) develops advanced fission power plants to provide clean, reliable, and affordable energy at scale to customers in the US.
3. Centrus Energy Corp. (NYSE:LEU)
Number of Hedge Fund Holders: 23
Market Capitalization as of July 16: $3.67 billion
Year-to-Date Performance as of July 16: 223.26%
Centrus Energy Corp. (NYSE:LEU) is one of the best performing mid cap stocks so far in 2025. On June 20, Centrus Energy announced that the US Department of Energy/DOE exercised an option to extend its High-Assay, Low-Enriched Uranium/HALEU production contract through June 30, 2026.
This extension is valued at ~$110 million and signifies a continuation of the partnership initiated in 2019 to re-establish America’s uranium enrichment capabilities. The extended contract’s Phase I was completed in late 2023 with the delivery of 20 kilograms of HALEU. Phase II required Centrus to produce an additional 900 kilograms of HALEU by June 30 this year, and Centrus produced over 920 kg to date. The current extension kicks off Phase III, which initially included 3 optional 3-year extension periods for annual production of 900 kilograms of HALEU UF6.
Centrus Energy Corp. (NYSE:LEU) supplies nuclear fuel components for the nuclear power industry in the US, Belgium, Japan, the Netherlands, and internationally.
2. MP Materials Corp. (NYSE:MP)
Number of Hedge Fund Holders: 29
Market Capitalization as of July 16: $9.52 billion
Year-to-Date Performance as of July 16: 273.21%
MP Materials Corp. (NYSE:MP) is one of the best performing mid cap stocks so far in 2025. On July 16, MP Materials announced a definitive and long-term agreement with Apple Inc. (NASDAQ:AAPL) to supply US-manufactured, sustainable rare earth magnets. The partnership establishes sustainable and domestic supply chains for both companies. The magnets will be produced entirely from 100% recycled materials.
Under the terms of this $500 million partnership, MP Materials will manufacture the magnets at its Fort Worth, Texas, facility, known as Independence. The recycled rare earth feedstock for these magnets will be processed at MP Materials’ Mountain Pass site in California, which is the only active rare earth mining and processing facility in the United States. This feedstock will be sourced from post-industrial waste and end-of-life products, including magnet scrap and components.
The collaboration is the culmination of nearly 5 years of joint development between Apple and MP Materials, during which they have piloted advanced recycling technology to ensure that recycled rare earth magnets meet Apple’s stringent performance and design criteria. To fulfill the agreement with Apple and in line with a recent public-private partnership with the US Department of Defense/DoD, MP Materials will expand the capacity of its Fort Worth magnetics facility to include neodymium magnet production lines specifically tailored for Apple products.
MP Materials Corp. (NYSE:MP) produces rare earth materials in the Western Hemisphere and operates in 2 segments: Materials and Magnetics.
1. TMC the metals company Inc. (NASDAQ:TMC)
Number of Hedge Fund Holders: 9
Market Capitalization as of July 16: $3.01 billion
Year-to-Date Performance as of July 16: 575.89%
TMC the metals company Inc. (NASDAQ:TMC) is one of the best performing mid cap stocks so far in 2025. On June 16, TMC announced that Korea Zinc Co. Ltd., which is a global leader in non-ferrous metal refining and precursor Cathode Active Material (pCAM) technology, has agreed to make an equity investment in TMC.
This investment totals ~$85.2 million and will be made through a private placement involving the purchase of common shares and warrants. Under the agreement, Korea Zinc is to acquire 19.6 million common shares at the last market closing price of $4.34 per share.
Additionally, Korea Zinc will receive a 3-year warrant to purchase 6.9 million common shares at an exercise price of $7.00 per share. These warrants are structured such that for every 1 initial common share purchased, 0.35 warrant shares are granted for no additional consideration.
TMC the metals company Inc. (NASDAQ:TMC) is a deep-sea minerals exploration company that collects, processes, and refines polymetallic nodules found on the seafloor in California.
While we acknowledge the potential of TMC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TMC and that has 100x upside potential, check out our report about this cheapest AI stock.
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