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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"Mid-cap growth fund focused on AI infrastructure beneficiaries like Vertiv and Quanta Services, which drove outperformance despite broader sector weakness. Energy exposure provided upside from Iran tensions pushing oil above $100."
The Carillon Eagle Mid Cap Growth Fund delivered mixed results in Q1 2026 as mid-cap growth significantly underperformed value amid sector rotation. The fund's core thesis centers on companies positioned to benefit from AI infrastructure buildout, with top performers Vertiv and Quanta Services capitalizing on accelerating data center investment and hyperscaler capital spending plans. Energy sector exposure proved beneficial as geopolitical tensions from military strikes on Iran drove oil prices above $100 per barrel, though this created broader market uncertainty. The portfolio maintains selective exposure across healthcare, defense, and industrial sectors, with managers favoring companies with strong competitive positions and secular growth drivers. Key risks include continued geopolitical volatility, higher energy prices acting as an economic tax, and AI displacement concerns affecting software companies. Despite near-term turbulence, the managers remain constructive on cyclical areas benefiting from the AI infrastructure cycle and expect current market volatility to be short-lived as valuations have reached more reasonable levels.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: Mid-cap growth fund focused on AI infrastructure beneficiaries like Vertiv and Quanta Services, which drove outperformance despite broader sector weakness. Energy exposure provided...
Growth Outlook
Market outlook remains low conviction: Mid-cap growth fund focused on AI infrastructure beneficiaries like Vertiv and Quanta Services, which drove outperformance despite broader sector weakness. Energy exposure provided...
Risk Appetite
Risk appetite posture is very low conviction: Mid-cap growth fund focused on AI infrastructure beneficiaries like Vertiv and Quanta Services, which drove outperformance despite broader sector weakness. Energy exposure provided...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. Mid-cap growth fund focused on AI infrastructure beneficiaries like Vertiv and Quanta Services, which drove outperformance despite broader sector weakness. Energy exposure provided...
Forward Guidance
Forward guidance signal: Mid-cap growth fund focused on AI infrastructure beneficiaries like Vertiv and Quanta Services, which drove outperformance despite broader sector weakness. Energy exposure provided...
Language Signal
Tone analysis indicates low conviction language: Mid-cap growth fund focused on AI infrastructure beneficiaries like Vertiv and Quanta Services, which drove outperformance despite broader sector weakness. Energy exposure provided...
Perceived Risk
Perceived risk level is evaluated as moderate conviction. Mid-cap growth fund focused on AI infrastructure beneficiaries like Vertiv and Quanta Services, which drove outperformance despite broader sector weakness. Energy exposure provided...
Opportunity Density
Opportunity density index indicates moderate conviction actionable entry points. Mid-cap growth fund focused on AI infrastructure beneficiaries like Vertiv and Quanta Services, which drove outperformance despite broader sector weakness. Energy exposure provided...
Time Horizon
Investment time horizon reflects a moderate conviction orientation. Mid-cap growth fund focused on AI infrastructure beneficiaries like Vertiv and Quanta Services, which drove outperformance despite broader sector weakness. Energy exposure provided...
