In Aristotle's philosophy, what is meant by moderate realism?

Moderate realism, as articulated by Aristotle, posits that essences, or the fundamental qualities that define a thing, are found within the particulars themselves rather than in a separate realm or only in the mind. This view suggests that while universals—abstract concepts that apply to many objects—do exist, they are instantiated in the specific, tangible instances of those universals. This means that the essence of an object is not an independent or separate entity but is instead embodied in individual objects, allowing us to understand the nature of things through their particular manifestations. This perspective strikes a balance between extreme realism, which suggests that universals exist independently of particulars, and nominalism, which posits that universals are merely names without any corresponding real essence. Thus, moderate realism recognizes the significance of essences as inherent qualities that help define and identify objects present in our sensory experience. This makes it a vital component of Aristotle's understanding of metaphysics and ontology.