Carillon Tower Advisers, an investment management company, released its first-quarter 2026 investor letter for the “Carillon Eagle Small Cap Growth Fund”. A copy of the letter can be downloaded here. Small-cap stocks delivered mixed results in the quarter as the market favored value stocks over growth. The Russell 2000 Growth Index fell 2.82% in the quarter, while the Russell 2000® Value Index increased 4.96%. The first quarter saw equity market volatility due to Iran strikes, boosting energy prices. The firm is optimistic that the turbulence in the market will be short-lived, with improved valuations and potential positive developments from de-escalation in the Middle East. In addition, please check the Fund’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Carillon Eagle Small Cap Growth Fund highlighted Modine Manufacturing Company (NYSE:MOD) as a notable contributor. Modine Manufacturing Company (NYSE:MOD) is an industrial company that focuses on thermal management products and solutions. On June 23, 2026, Modine Manufacturing Company (NYSE:MOD) closed at $277.46 per share. One-month return of Modine Manufacturing Company (NYSE:MOD) was -0.09%, and its shares gained 173.30% over the past 52 weeks. Modine Manufacturing Company (NYSE:MOD) has a market capitalization of $14.65 billion.
Carillon Eagle Small Cap Growth Fund stated the following regarding Modine Manufacturing Company (NYSE:MOD) in its Q1 2026 investor letter:
“Modine Manufacturing Company (NYSE:MOD) provides mission critical thermal management solutions. It delivered strong performance driven by its growing exposure to data center cooling. The company is well positioned to benefit from accelerating investment in high-performance computing and artificial intelligence infrastructure. Management raised expectations during the quarter, indicating they now expect to significantly exceed their recently issued multi-year data center revenue targets. The announced sale of its Performance Technologies segment – serving lower-growth, lower-margin automotive and transportation markets – transforms the company into a more focused, higher-growth pure play on data centers and commercial heating, ventilation, and air conditioning (HVAC). This enhances its long-term growth profile.”
Modine Manufacturing Company (NYSE:MOD) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 61 hedge fund portfolios held Modine Manufacturing Company (NYSE:MOD) at the end of the first quarter, up from 59 in the previous quarter. In the fourth quarter of fiscal 2026, Modine Manufacturing Company’s (NYSE:MOD) revenue increased 47% driven by growth in its Climate Solutions segment. While we acknowledge the risk and potential of Modine Manufacturing Company (NYSE:MOD) 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 Modine Manufacturing Company (NYSE:MOD) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Modine Manufacturing Company (NYSE:MOD) and shared Osterweis Opportunity Fund’s insights on the company. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.
Disclosure: None. This article is originally published at Insider Monkey.
