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 Corning Incorporated (NYSE:GLW). Corning Incorporated (NYSE:GLW) operates in optical communications, display, specialty materials, automotive, and life sciences businesses. On July 24, 2026, Corning Incorporated (NYSE:GLW) closed at $146.65 per share. One-month return of Corning Incorporated (NYSE:GLW) was -43.06% and its shares gained 162.77% over the past 52 weeks. Corning Incorporated (NYSE:GLW) has a market capitalization of $126.21 billion with a 52-week trading range between $54.89 – $271.78.
Carillon Eagle Growth & Income Fund stated the following regarding Corning Incorporated (NYSE:GLW) in its Q2 2026 investor letter:
“Corning Incorporated (NYSE:GLW) continued its strong performance as the need for advanced fiber and optical connections in AI chip technology has increased with each new generation. We believe Corning should see market growth across several key products for the next three to five years.”
Corning Incorporated (NYSE:GLW) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 91 hedge fund portfolios held Corning Incorporated (NYSE:GLW) at the end of the first quarter which was 85 in the previous quarter. While we acknowledge the potential of Corning Incorporated (NYSE:GLW) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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