Carillon Tower Advisers, an investment management company, released its fourth-quarter 2025 investor letter for the “Carillon Scout Mid Cap Fund”. A copy of the letter can be downloaded here. Major U.S. equity indices delivered positive returns in the fourth quarter, while the Russell Midcap® Index return lagged with nominal positive gains. Strong corporate earnings revisions and lower short-term interest rates supported U.S. market returns. Investors’ focus on an optimistic 2026, and consensus outperformed the market amid long-term government shutdowns. High sector return dispersion was observed in the Russell Midcap Index, with healthcare, materials, and IT leading. However, investors’ bias towards higher beta and more cyclical stocks led Communication services, real estate, and utilities to lag in the quarter. The fund expects the Midcap equities to trade higher in 2026, supported by broader market involvement, though this view aligns with consensus. U.S. market index earnings are projected to grow significantly in 2026 despite price-to-earnings ratios being higher than historical averages. Please review the Fund’s top five holdings to gain insights into their key selections for 2025.
In its fourth-quarter 2025 investor letter, Carillon Scout Mid Cap Fund highlighted stocks like The Mosaic Company (NYSE:MOS). The Mosaic Company (NYSE:MOS) is a chemical company that produces and markets concentrated phosphate and potash crop nutrients. On March 20, 2026, The Mosaic Company (NYSE:MOS) stock closed at $23.59 per share. One-month return of The Mosaic Company (NYSE:MOS) was -17.89%, and its shares lost 14.62% over the past 52 weeks. The Mosaic Company (NYSE:MOS) has a market capitalization of $7.49 billion.
Carillon Scout Mid Cap Fund stated the following regarding The Mosaic Company (NYSE:MOS) in its fourth quarter 2025 investor letter:
“The Mosaic Company (NYSE:MOS) is a global producer of phosphate and potash fertilizers. In the fourth quarter, Mosaic’s stock lagged because broader fertilizer demand softened, sales volumes were weaker than expected, and input costs, including sulfur, climbed higher. Production and operational challenges in the phosphate segment and fears of fertilizer affordability also weighed on investor confidence. We believe fertilizer market challenges are well reflected at current prices. Improving phosphate production from Mosaic, tight global phosphate inventories (due in part to lowered exports from China), and better spring fertilizer applications in the United States could help bolster the stock.”
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