Carillon Tower Advisers, an investment management company, released its second-quarter 2026 investor letter for the “Carillon Eagle Growth & Income Fund”. A copy of the letter is available to download here. The second quarter of 2026 was driven by a sharp rally in AI-related stocks, although gains were concentrated in highly cyclical semiconductor, memory and optical companies. The S&P 500 gained 15.2%, while the semiconductor index surged 87.8%. Unlike earlier AI rallies led by megacaps and strong earnings growth, some smaller technology stocks rose 200% to 300%, making the advance more fragile. Software and services stocks declined as investors questioned the impact of AI disruption. Oil prices also rose during the Iran conflict before retreating, briefly increasing inflation and interest-rate concerns. Despite the volatility, economic data and corporate earnings remained strong. S&P 500 earnings are projected to rise 25% in 2026 and 15% in 2027, with the market trading near 20x earnings. The Fund continues to focus on financially strong companies with durable earnings growth that can perform across different economic conditions. In addition, please check the Fund’s top five holdings to know its best picks in 2026.
In its second-quarter 2026 investor letter, Carillon Eagle Growth & Income Fund highlighted Lam Research Corporation (NASDAQ:LRCX). Lam Research Corporation (NASDAQ:LRCX) designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. On July 27, 2026, Lam Research Corporation (NASDAQ:LRCX) closed at $291.61 per share. One-month return of Lam Research Corporation (NASDAQ:LRCX) was -32.70% and its shares gained 194.73% over the past 52 weeks. Lam Research Corporation (NASDAQ:LRCX) has a market capitalization of $364.68 billion with a 52-week trading range between $90.94 – $438.50.
Carillon Eagle Growth & Income Fund stated the following regarding Lam Research Corporation (NASDAQ:LRCX) in its Q2 2026 investor letter:
“Lam Research Corporation’s (NASDAQ:LRCX) shares continued to benefit from increased capital expenditure spending by its semiconductor clients. With the demand for silicon and memory at record highs and a very tight supply/demand dynamic, this appetite for Lam Research’s product appears unlikely to slow any time soon.”
Lam Research Corporation (NASDAQ:LRCX) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 123 hedge fund portfolios held Lam Research Corporation (NASDAQ:LRCX) at the end of the first quarter, up from 104 in the previous quarter. Lam Research Corporation’s (NASDAQ:LRCX) revenue for the March quarter of 2026 was $5.84 billion, representing a 9% sequential increase and a 24% increase compared to March quarter of 2025. While we acknowledge the risk and potential of Lam Research Corporation (NASDAQ:LRCX) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Lam Research Corporation (NASDAQ:LRCX) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Lam Research Corporation (NASDAQ:LRCX) and shared NZS Growth Equity Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
