N-Q 1 carillon_n-q.htm QUARTERLY NOTICE OF PORTFOLIO HOLDINGS


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
FORM N-Q
 
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act File Number: 811-07470
 
CARILLON SERIES TRUST
 (Exact name of Registrant as Specified in Charter)
 
880 Carillon Parkway
St. Petersburg, FL 33716
(Address of Principal Executive Office) (Zip Code)
 
Registrant’s Telephone Number, including Area Code: (727) 567-1000
 
SUSAN L. WALZER, PRINCIPAL EXECUTIVE OFFICER
880 Carillon Parkway
St. Petersburg, FL 33716
(Name and Address of Agent for Service)
 
Copy to:
KATHY KRESCH INGBER, ESQ.
K&L Gates LLP
1601 K Street, NW
Washington, D.C.  20006
 
Date of fiscal year end: October 31
 
Date of reporting period: January 31, 2018
 


Item 1. Schedule of Investments
 
 
Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON CLARIVEST CAPITAL APPRECIATION FUND
       
COMMON STOCKS - 99.9%
 
Shares
   
Value
 
Aerospace & defense - 4.8%
       
General Dynamics Corp.
   
19,600
   
$
4,360,608
 
Northrop Grumman Corp.
   
21,300
     
7,253,289
 
The Boeing Co.
   
30,700
     
10,879,159
 
Airlines - 0.6%
         
Delta Air Lines, Inc.
   
46,800
     
2,656,836
 
Auto components - 1.6%
         
Lear Corp.
   
38,100
     
7,358,634
 
Automobiles - 0.9%
         
Thor Industries, Inc.
   
31,300
     
4,277,458
 
Banks - 1.0%
         
Bank of America Corp.
   
74,800
     
2,393,600
 
Zions Bancorporation
   
40,000
     
2,161,200
 
Beverages - 2.9%
         
Constellation Brands, Inc., Class A
   
20,000
     
4,389,400
 
PepsiCo, Inc.
   
61,021
     
7,340,826
 
The Coca-Cola Co.
   
39,600
     
1,884,564
 
Biotechnology - 4.6%
         
AbbVie, Inc.
   
71,100
     
7,978,842
 
Amgen, Inc.
   
43,500
     
8,093,175
 
Biogen, Inc.*
   
8,000
     
2,782,480
 
Celgene Corp.*
   
26,800
     
2,711,088
 
Building products - 1.7%
         
Owens Corning
   
85,900
     
7,986,123
 
Capital markets - 1.6%
         
State Street Corp.
   
28,900
     
3,183,913
 
The Bank of New York Mellon Corp.
   
78,700
     
4,462,290
 
Chemicals - 1.6%
         
LyondellBasell Industries N.V., Class A
   
47,100
     
5,644,464
 
Westlake Chemical Corp.
   
15,765
     
1,775,139
 
Containers & packaging - 0.5%
         
Owens-Illinois, Inc.*
   
99,400
     
2,308,068
 
Equity real estate investment trusts (REITs) - 0.8%
         
American Tower Corp.
   
26,600
     
3,928,820
 
Food & staples retailing - 1.9%
         
CVS Health Corp.
   
26,100
     
2,053,809
 
Wal-Mart Stores, Inc.
   
62,600
     
6,673,160
 
Food products - 2.7%
         
Ingredion, Inc.
   
21,500
     
3,088,260
 
Pinnacle Foods, Inc.
   
49,400
     
3,059,836
 
The Hershey Co.
   
29,900
     
3,298,867
 
Tyson Foods, Inc., Class A
   
44,200
     
3,364,062
 
Health care equipment & supplies - 2.1%
         
Edwards Lifesciences Corp.*
   
38,000
     
4,810,040
 
The Cooper Companies, Inc.
   
20,200
     
4,942,334
 
Health care providers & services - 5.5%
         
Aetna, Inc.
   
31,200
     
5,828,784
 
Laboratory Corp. of America Holdings*
   
30,500
     
5,322,250
 
UnitedHealth Group, Inc.
   
61,500
     
14,561,970
 
 

Hotels, restaurants & leisure - 3.7%
         
Dominos Pizza, Inc.
   
15,600
     
3,382,860
 
McDonald's Corp.
   
52,800
     
9,036,192
 
Wyndham Worldwide Corp.
   
37,900
     
4,704,527
 
Household durables - 2.0%
         
D.R. Horton, Inc.
   
133,500
     
6,548,175
 
Mohawk Industries, Inc.*
   
10,000
     
2,810,600
 
Insurance - 0.5%
         
The Progressive Corp.
   
41,400
     
2,239,740
 
Internet & direct marketing retail - 4.2%
         
Amazon.com, Inc.*
   
13,500
     
19,587,015
 
Internet software & services - 11.3%
         
Alphabet, Inc., Class A*
   
11,914
     
14,084,969
 
Alphabet, Inc., Class C*
   
11,912
     
13,936,325
 
eBay, Inc.*
   
110,500
     
4,484,090
 
Facebook, Inc., Class A*
   
108,000
     
20,184,120
 
IT services - 6.6%
         
Amdocs Ltd.
   
16,700
     
1,142,280
 
Fiserv, Inc.*
   
35,600
     
5,013,904
 
Global Payments, Inc.
   
21,400
     
2,392,092
 
MasterCard, Inc., Class A
   
48,330
     
8,167,770
 
Visa, Inc., Class A
   
67,800
     
8,422,794
 
Worldpay, Inc., Class A*
   
72,804
     
5,846,889
 
Life sciences tools & services - 1.6%
         
Thermo Fisher Scientific, Inc.
   
33,700
     
7,552,507
 
Machinery - 3.9%
         
Caterpillar, Inc.
   
46,700
     
7,601,826
 
Ingersoll-Rand PLC
   
32,000
     
3,028,160
 
Oshkosh Corp.
   
34,700
     
3,147,984
 
Parker-Hannifin Corp.
   
13,500
     
2,719,170
 
Stanley Black & Decker, Inc.
   
11,700
     
1,944,891
 
Media - 0.7%
         
Comcast Corp., Class A
   
77,300
     
3,287,569
 
Metals & mining - 1.1%
         
Steel Dynamics, Inc.
   
115,900
     
5,261,860
 
Oil, gas & consumable fuels - 0.7%
         
Valero Energy Corp.
   
35,700
     
3,426,129
 
Pharmaceuticals - 1.1%
         
Johnson & Johnson
   
37,100
     
5,126,849
 
Semiconductors & semiconductor equipment - 5.9%
         
Applied Materials, Inc.
   
154,800
     
8,301,924
 
KLA-Tencor Corp.
   
19,300
     
2,119,140
 
Lam Research Corp.
   
36,100
     
6,913,872
 
Microchip Technology, Inc.
   
35,100
     
3,342,222
 
NVIDIA Corp.
   
28,800
     
7,079,040
 
Software - 10.1%
         
Activision Blizzard, Inc.
   
62,900
     
4,662,777
 
Adobe Systems, Inc.*
   
26,300
     
5,253,688
 
Electronic Arts, Inc.*
   
40,900
     
5,192,664
 
Microsoft Corp.
   
278,800
     
26,488,788
 
Synopsys, Inc.*
   
60,900
     
5,639,949
 
Specialty retail - 3.1%
         
Ross Stores, Inc.
   
35,900
     
2,957,801
 
The Home Depot, Inc.
   
58,300
     
11,712,470
 
 

Technology hardware, storage & peripherals - 6.6%
         
Apple, Inc.
   
162,966
     
27,285,398
 
NetApp, Inc.
   
64,000
     
3,936,000
 
Textiles, apparel & luxury goods - 1.2%
         
PVH Corp.
   
36,800
     
5,706,944
 
Trading companies & distributors - 0.8%
         
United Rentals, Inc.*
   
19,800
     
3,585,978
 
Total common stocks (cost $265,434,516)
     
468,073,290
 
Total investment portfolio (cost $265,434,516) - 99.9%‡
     
468,073,290
 
Other assets in excess of liabilities - 0.1%
     
543,096
 
Total net assets - 100.0%
   
$
468,616,386
 
 
* Non-income producing security
               
                 
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
 
Cost of investments
         
$
265,434,516
 
Gross unrealized appreciation
           
202,744,169
 
Gross unrealized depreciation
           
(105,395
)
Net unrealized appreciation (depreciation)
         
$
202,638,774
 
 
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
       
Sector allocation
   
Sector
 
Percent of net assets
Information technology
 
40.5%
Consumer discretionary
 
17.4%
Health care
 
14.9%
Industrials
 
11.8%
Consumer staples
 
7.5%
Materials
 
3.2%
Financials
 
3.1%
Real estate
 
0.8%
Energy
 
0.7%
     
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of Morgan Stanley Capital International, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.
 

 
 
Investment Portfolios
           
(UNAUDITED) | 01.31.2018
           
CARILLON EAGLE GROWTH & INCOME FUND
           
COMMON STOCKS - 98.6%
 
Shares
   
Value
 
Aerospace & defense - 3.8%
           
Lockheed Martin Corp.
   
67,859
   
$
24,079,766
 
Banks - 11.8%
               
JPMorgan Chase & Co.
   
248,036
     
28,690,324
 
The PNC Financial Services Group, Inc.
   
173,512
     
27,418,366
 
Wells Fargo & Co.
   
291,963
     
19,205,326
 
Beverages - 5.6%
               
PepsiCo, Inc.
   
135,285
     
16,274,786
 
The Coca-Cola Co.
   
412,539
     
19,632,731
 
Chemicals - 2.5%
               
DowDuPont, Inc.
   
211,583
     
15,991,443
 
Communications equipment - 3.1%
               
Cisco Systems, Inc.
   
471,310
     
19,578,217
 
Diversified telecommunication services - 3.0%
               
AT&T, Inc.
   
508,950
     
19,060,178
 
Electric utilities - 2.0%
               
Great Plains Energy, Inc.
   
403,559
     
12,558,756
 
Equity real estate investment trusts (REITs) - 6.6%
               
Camden Property Trust
   
91,124
     
7,887,694
 
Crown Castle International Corp.
   
144,169
     
16,257,938
 
Prologis, Inc.
   
196,893
     
12,819,703
 
Simon Property Group, Inc.
   
31,902
     
5,211,830
 
Food & staples retailing - 2.2%
               
Sysco Corp.
   
222,427
     
13,983,985
 
Health care equipment & supplies - 4.0%
               
Abbott Laboratories
   
238,080
     
14,799,053
 
Medtronic PLC
   
126,146
     
10,834,680
 
Hotels, restaurants & leisure - 5.8%
               
Carnival Corp.
   
329,053
     
23,563,485
 
McDonald's Corp.
   
79,733
     
13,645,506
 
Household products - 2.1%
               
The Procter & Gamble Co.
   
155,515
     
13,427,165
 
Industrial conglomerates - 6.3%
               
3M Co.
   
65,481
     
16,402,990
 
Honeywell International, Inc.
   
151,634
     
24,211,401
 
Media - 3.4%
               
Regal Entertainment Group, Class A
   
950,022
     
21,736,503
 
Multi-utilities - 1.9%
               
Sempra Energy
   
116,389
     
12,455,951
 
 

Oil, gas & consumable fuels - 8.3%
               
Chevron Corp.
   
151,176
     
18,949,912
 
Occidental Petroleum Corp.
   
223,605
     
16,763,667
 
TOTAL S.A., Sponsored ADR
   
299,125
     
17,367,197
 
Pharmaceuticals - 9.1%
               
Johnson & Johnson
   
160,567
     
22,188,754
 
Merck & Co., Inc.
   
241,898
     
14,332,456
 
Pfizer, Inc.
   
586,621
     
21,728,442
 
Road & rail - 2.7%
               
Union Pacific Corp.
   
131,285
     
17,526,548
 
Software - 4.7%
               
Microsoft Corp.
   
320,651
     
30,465,052
 
Specialty retail - 3.6%
               
The Home Depot, Inc.
   
116,343
     
23,373,309
 
Technology hardware, storage & peripherals - 3.6%
               
Apple, Inc.
   
138,703
     
23,223,043
 
Tobacco - 2.5%
               
Altria Group, Inc.
   
232,112
     
16,326,758
 
Total common stocks  (cost $391,232,995)
           
631,972,915
 
Total investment portfolio (cost $391,232,995) - 98.6%‡
           
631,972,915
 
Other assets in excess of liabilities - 1.4%
           
8,670,093
 
Total net assets - 100.0%
         
$
640,643,008
 
 
               
ADR - American depository receipt
               
 
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
 
Cost of investments
         
$
391,232,995
 
Gross unrealized appreciation
           
242,384,524
 
Gross unrealized depreciation
           
(1,644,604
)
Net unrealized appreciation (depreciation)
         
$
240,739,920
 
 
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
     
         
Sector Allocation 
     
Sector 
 Percent of net assets 
Health care
   
13.1%
Consumer discretionary
   
12.8%
Industrials
   
12.8%
Consumer staples
   
12.4%
Financials
   
11.8%
Information technology
   
11.4%
Energy
   
8.3%
Real estate
   
6.6%
Utilities
   
3.9%
Telecommunication services
   
3.0%
Materials
   
2.5%
 

Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON CLARIVEST INTERNATIONAL STOCK FUND
       
COMMON STOCKS - 95.9%
 
Shares
   
Value
 
Australia - 2.8%
       
Link Administration Holdings Ltd.
   
26,735
   
$
192,201
 
Origin Energy Ltd.*
   
28,568
     
213,993
 
Qantas Airways Ltd.
   
31,764
     
134,613
 
St Barbara Ltd.
   
20,657
     
63,039
 
Belgium - 1.2%
         
Anheuser-Busch InBev S.A./N.V.
   
2,174
     
246,228
 
Denmark - 1.5%
         
Danske Bank A/S
   
5,411
     
219,724
 
DFDS A/S
   
1,775
     
106,508
 
France - 8.6%
         
Atos SE
   
1,439
     
226,941
 
BNP Paribas S.A.
   
2,215
     
182,946
 
Cie Generale des Etablissements Michelin
   
1,311
     
209,728
 
Credit Agricole S.A.
   
9,828
     
185,295
 
Eiffage S.A.
   
2,748
     
333,156
 
ENGIE S.A.
   
4,366
     
75,812
 
Renault S.A.
   
1,894
     
208,025
 
Sanofi
   
2,635
     
232,545
 
VINCI S.A.
   
1,704
     
184,167
 
Germany - 8.1%
         
Allianz SE
   
1,782
     
450,718
 
BASF SE
   
2,024
     
237,372
 
Covestro AG
   
3,863
     
444,828
 
Daimler AG
   
1,706
     
156,248
 
Deutsche Lufthansa AG
   
2,923
     
104,418
 
LEONI AG
   
1,989
     
152,735
 
Siltronic AG*
   
649
     
107,745
 
TAG Immobilien AG
   
4,176
     
82,548
 
Hong Kong - 2.0%
         
CK Asset Holdings Ltd.
   
6,172
     
58,730
 
Kerry Properties Ltd.
   
13,000
     
62,153
 
Xinyi Glass Holdings Ltd.*
   
202,000
     
306,056
 
Israel - 1.5%
         
Bank Leumi Le-Israel B.M.
   
13,380
     
82,128
 
Israel Discount Bank Ltd., Class A*
   
48,594
     
145,363
 
Tower Semiconductor Ltd.*
   
2,763
     
96,297
 
Italy - 2.3%
         
Enel SpA
   
57,052
     
362,704
 
Intesa Sanpaolo SpA
   
31,288
     
122,936
 
 

Japan - 28.4%
         
ANA Holdings, Inc.
   
2,600
     
106,067
 
Asahi Group Holdings Ltd.
   
7,200
     
363,762
 
Cosmo Energy Holdings Co. Ltd.
   
1,900
     
74,806
 
Fujitsu Ltd.
   
13,000
     
95,987
 
Fukuoka Financial Group, Inc.
   
13,000
     
75,645
 
Hanwa Co. Ltd.
   
2,500
     
121,969
 
Haseko Corp.
   
5,100
     
79,754
 
Hitachi Ltd.
   
51,000
     
406,970
 
Honda Motor Co. Ltd.
   
6,400
     
225,701
 
ITOCHU Corp.
   
24,200
     
476,176
 
JFE Holdings, Inc.
   
6,300
     
149,779
 
JXTG Holdings, Inc.
   
30,600
     
203,723
 
KDDI Corp.
   
3,800
     
96,437
 
Kyocera Corp.
   
2,500
     
166,889
 
Marubeni Corp.
   
57,700
     
433,959
 
Mitsubishi Chemical Holdings Corp.
   
9,000
     
98,157
 
Mitsubishi UFJ Financial Group, Inc.
   
33,100
     
250,281
 
Mitsui Chemicals, Inc.
   
5,100
     
160,802
 
Nichirei Corp.
   
3,800
     
102,009
 
Nippon Electric Glass Co. Ltd.
   
2,600
     
107,503
 
Nippon Light Metal Holdings Co. Ltd.
   
13,400
     
39,529
 
Nippon Suisan Kaisha Ltd.
   
10,900
     
58,192
 
Nippon Telegraph & Telephone Corp.
   
7,600
     
363,923
 
Nipro Corp.
   
6,400
     
98,416
 
Penta-Ocean Construction Co. Ltd.
   
11,500
     
88,850
 
SCREEN Holdings Co. Ltd.
   
1,300
     
113,311
 
SoftBank Group Corp.
   
2,500
     
207,720
 
Sony Corp.
   
3,800
     
182,252
 
Sumitomo Corp.
   
11,500
     
198,842
 
Sumitomo Mitsui Financial Group, Inc.
   
3,800
     
171,137
 
The Hiroshima Bank Ltd.
   
8,800
     
73,962
 
The Kansai Electric Power Co., Inc.
   
5,100
     
63,550
 
Tokyo Electron Ltd.
   
1,300
     
245,235
 
Toyota Motor Corp.
   
5,100
     
351,377
 
Netherlands - 5.0%
         
Aegon N.V.
   
17,580
     
120,134
 
AerCap Holdings N.V.*
   
2,000
     
108,200
 
ASR Nederland N.V.
   
6,085
     
265,799
 
NN Group N.V.
   
7,626
     
359,681
 
NXP Semiconductors N.V.*
   
1,800
     
216,576
 
Norway - 0.5%
         
Aker BP ASA
   
3,548
     
102,672
 
Singapore - 2.3%
         
DBS Group Holdings Ltd.
   
8,900
     
178,633
 
Oversea-Chinese Banking Corp. Ltd.
   
26,500
     
260,543
 
Yanlord Land Group Ltd.
   
40,700
     
57,399
 
 

Spain - 1.6%
         
Banco Santander S.A.
   
18,377
     
136,436
 
Iberdrola S.A.
   
15,430
     
125,598
 
Repsol S.A.
   
3,778
     
71,106
 
Sweden - 2.7%
         
Ahlsell AB
   
23,832
     
160,749
 
Boliden AB
   
2,597
     
94,279
 
Svenska Cellulosa AB SCA, Class B
   
7,269
     
75,218
 
Tele2 AB, Class B
   
8,808
     
110,153
 
Volvo AB, Class B
   
7,078
     
144,466
 
Switzerland - 12.8%
         
Baloise Holding AG
   
1,757
     
287,449
 
Bossard Holding AG, Class A
   
166
     
42,873
 
Lonza Group AG
   
1,221
     
339,239
 
Nestle S.A.
   
5,614
     
484,948
 
Novartis AG
   
5,241
     
473,038
 
Sika AG
   
25
     
216,570
 
Straumann Holding AG
   
280
     
213,719
 
Swiss Life Holding AG*
   
547
     
205,397
 
UBS Group AG*
   
10,949
     
222,258
 
Zurich Insurance Group AG
   
751
     
247,040
 
United Kingdom - 14.6%
         
3i Group PLC
   
19,458
     
257,294
 
Ashtead Group PLC
   
5,678
     
169,733
 
Aviva PLC
   
20,365
     
148,571
 
Barclays PLC
   
44,882
     
127,640
 
Bellway PLC
   
3,005
     
141,661
 
BP PLC
   
49,329
     
351,932
 
British American Tobacco PLC
   
841
     
57,480
 
Carnival PLC
   
3,412
     
240,733
 
Electrocomponents PLC
   
8,148
     
70,893
 
Glencore PLC*
   
29,436
     
168,709
 
HSBC Holdings PLC
   
15,960
     
170,272
 
Lloyds Banking Group PLC
   
149,870
     
148,071
 
Persimmon PLC
   
2,699
     
95,881
 
Redrow PLC
   
7,571
     
64,391
 
Royal Dutch Shell PLC, Class B
   
14,704
     
521,587
 
Shire PLC
   
4,660
     
217,726
 
Standard Chartered PLC
   
13,113
     
152,573
 
Total common stocks (cost $16,877,199)
     
20,465,892
 
 

PREFERRED STOCKS - 1.2%
         
Germany - 1.2%
         
Volkswagen AG
   
1,138
     
250,252
 
Total preferred stocks (cost $215,532)
     
250,252
 
Total investment portfolio (cost $17,092,731) - 97.1%‡
     
20,716,144
 
Other assets in excess of liabilities - 2.9%
     
624,435
 
Total net assets - 100.0%
   
$
21,340,579
 
   
*Non-income producing security
               
                 
 
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
 
Cost of investments
 
$
17,092,731
 
Gross unrealized appreciation
   
3,960,763
 
Gross unrealized depreciation
   
(337,350
)
Net unrealized appreciation (depreciation)
 
$
3,623,413
 
 
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
     
Sector allocation
 
Sector
Percent of net assets
Financials
 
24.6%
Industrials
 
13.7%
Consumer discretionary
 
12.5%
Information technology
 
9.6%
Materials
 
8.2%
Health care
 
7.4%
Energy
 
7.2%
Consumer staples
 
6.2%
Telecommunication services
 
3.6%
Utilities
 
2.9%
Real estate
 
1.2%
 

Industry allocation
 
Industry
Value
Percent of net assets
Banks
 $          2,683,587
12.6%
Insurance
             2,084,789
9.8%
Trading companies & distributors
             1,712,500
8.0%
Oil, gas & consumable fuels
             1,539,819
7.2%
Automobiles
             1,191,603
5.6%
Chemicals
             1,157,729
5.4%
Semiconductors & semiconductor equipment
                779,164
3.7%
Electronic equipment, instruments & components
                752,255
3.5%
Pharmaceuticals
                705,582
3.3%
Auto components
                668,519
3.1%
Food products
                645,149
3.0%
Beverages
                609,990
2.9%
Construction & engineering
                606,174
2.8%
Household durables
                563,939
2.6%
Electric utilities
                551,852
2.6%
Metals & mining
                515,335
2.4%
IT services
                515,128
2.4%
Capital markets
                479,552
2.3%
Wireless telecommunication services
                414,311
1.9%
Diversified telecommunication services
                363,924
1.7%
Airlines
                345,099
1.6%
Life sciences tools & services
                339,238
1.6%
Health care equipment & supplies
                312,135
1.5%
Real estate management & development
                260,830
1.2%
Hotels, restaurants & leisure
                240,733
1.1%
Biotechnology
                217,725
1.0%
Machinery
                144,466
0.7%
Marine
                106,508
0.5%
Multi-utilities
                  75,812
0.4%
Paper & forest products
                  75,218
0.4%
Tobacco
                  57,479
0.3%
 

Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON SCOUT INTERNATIONAL FUND
       
COMMON STOCKS - 93.2%
 
Shares
   
Value
 
Australia - 7.8%
       
BHP Billiton Ltd., Sponsored ADR
   
340,518
   
$
16,692,192
 
Caltex Australia Ltd.
   
712,357
     
19,938,905
 
CSL Ltd.
   
145,346
     
17,089,737
 
Macquarie Group Ltd.
   
217,082
     
18,012,871
 
Woodside Petroleum Ltd.
   
592,374
     
15,815,802
 
Canada - 1.0%
         
Enbridge, Inc.
   
317,371
     
11,625,300
 
Denmark - 2.9%
         
Novo Nordisk A/S, Sponsored ADR
   
322,076
     
17,875,218
 
Pandora A/S
   
153,861
     
14,580,639
 
France - 8.7%
         
Air Liquide S.A.
   
111,254
     
15,002,241
 
AXA S.A.
   
641,555
     
21,099,236
 
BNP Paribas S.A.
   
227,974
     
18,829,352
 
Dassault Systemes SE
   
94,072
     
10,844,965
 
L'Oreal S.A.
   
61,906
     
14,068,498
 
TOTAL S.A.
   
314,414
     
18,229,811
 
Germany - 11.1%
         
Allianz SE, Sponsored ADR
   
788,064
     
19,953,781
 
BASF SE
   
171,096
     
20,065,871
 
Continental AG
   
69,894
     
20,996,847
 
Fresenius SE & Co. KGaA
   
160,054
     
14,009,052
 
Muenchener Rueckversicherungs-Gesellschaft AG
   
68,390
     
16,089,983
 
SAP SE, Sponsored ADR
   
119,997
     
13,589,660
 
Siemens AG
   
131,465
     
19,957,057
 
Hong Kong - 1.2%
               
AAC Technologies Holdings, Inc.
   
809,963
     
13,420,762
 
Ireland - 3.1%
         
Kerry Group PLC, Class A
   
144,420
     
15,375,466
 
Ryanair Holdings PLC, Sponsored ADR*
   
160,531
     
19,698,759
 
Japan - 14.6%
         
Astellas Pharma, Inc.
   
1,427,916
     
18,778,821
 
FANUC Corp.
   
47,502
     
12,892,919
 
JGC Corp.
   
697,439
     
15,157,727
 
Komatsu Ltd.
   
356,790
     
14,022,739
 
Kubota Corp.
   
779,687
     
15,934,874
 
Nitto Denko Corp.
   
164,859
     
15,147,234
 
ORIX Corp.
   
1,142,583
     
21,402,501
 
Subaru Corp.
   
609,158
     
20,290,140
 
Sysmex Corp.
   
184,470
     
14,521,042
 
Tokyo Electron Ltd.
   
88,776
     
16,746,911
 
Mexico - 3.1%
         
Grupo Financiero Banorte S.A.B. de C.V., Class O
   
3,055,905
     
19,571,715
 
Wal-Mart de Mexico S.A.B. de C.V., Sponsored ADR
   
620,652
     
15,584,572
 
Norway - 1.5%
         
DNB ASA
   
832,641
     
16,923,640
 
Singapore - 1.4%
         
Singapore Telecommunications Ltd.
   
5,916,987
     
15,964,552
 
 

South Africa - 1.1%
         
MTN Group Ltd.
   
1,107,100
     
12,259,140
 
Spain - 1.6%
         
Banco Bilbao Vizcaya Argentaria S.A.
   
1,876,511
     
17,610,325
 
Sweden - 4.6%
         
Essity AB, Class B*
   
455,079
     
13,632,207
 
Sandvik AB
   
920,204
     
18,115,794
 
SKF AB, Sponsored ADR
   
799,776
     
19,866,436
 
Switzerland - 9.8%
         
ABB Ltd.
   
560,705
     
15,628,407
 
Adecco Group AG
   
239,450
     
19,702,192
 
Coca-Cola HBC AG*
   
465,996
     
15,655,353
 
Givaudan S.A.
   
7,150
     
17,211,875
 
Nestle S.A., Sponsored ADR
   
159,251
     
13,759,286
 
Novartis AG, Sponsored ADR
   
140,056
     
12,613,443
 
Roche Holding AG
   
65,450
     
16,171,013
 
Taiwan - 2.5%
         
Largan Precision Co. Ltd.
   
107,500
     
14,733,761
 
MediaTek, Inc.
   
1,321,930
     
13,526,245
 
United Kingdom - 12.2%
         
British American Tobacco PLC
   
261,428
     
17,867,734
 
Compass Group PLC
   
749,505
     
15,780,756
 
Diageo PLC, Sponsored ADR
   
115,324
     
16,602,043
 
Next PLC
   
262,348
     
18,943,071
 
Prudential PLC, Sponsored ADR
   
399,146
     
21,605,773
 
Reckitt Benckiser Group PLC
   
164,583
     
15,893,793
 
Royal Dutch Shell PLC, Class B, Sponsored ADR
   
232,609
     
16,731,566
 
WPP PLC
   
816,509
     
14,786,972
 
United States - 5.0%
         
Aflac, Inc.
   
206,084
     
18,176,609
 
Credicorp Ltd.
   
91,835
     
21,271,741
 
Mettler-Toledo International, Inc.*
   
25,094
     
16,944,974
 
Total common stocks (cost $637,468,514)
     
1,050,891,901
 
                 
PREFERRED STOCKS - 5.5%
         
Colombia - 2.0%
         
Bancolombia S.A., Sponsored ADR
   
475,846
     
21,865,123
 
Germany - 3.5%
         
Henkel AG & Co. KGaA, Sponsored ADR
   
110,099
     
15,402,410
 
Volkswagen AG
   
110,595
     
24,320,444
 
Total preferred stocks (cost $38,005,587)
     
61,587,977
 
Total investment portfolio (cost $675,474,101) - 98.7%‡
     
1,112,479,878
 
Other assets in excess of liabilities - 1.3%
     
15,091,245
 
Total net assets - 100.0%
   
$
1,127,571,123
 
 
*Non-income producing security
     
ADR - American depository receipt
     
 

‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
 
Cost of investments
 
$
675,474,101
 
Gross unrealized appreciation
   
464,092,586
 
Gross unrealized depreciation
   
(27,086,809
)
Net unrealized appreciation (depreciation)
 
$
437,005,777
 
 
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
     
Sector allocation
 
Sector
Percent of net assets
Financials
22.4%
Industrials
15.2%
Consumer staples
13.6%
Consumer discretionary
11.5%
Health care
11.4%
Materials
7.5%
Information technology
7.3%
Energy
7.3%
Telecommunication services
2.5%
   
 

Industry allocation
 
Industry
Value
Percent of net assets
Banks
 $      116,071,898
10.3%
Insurance
           96,925,381
8.6%
Oil, gas & consumable fuels
           82,341,384
7.3%
Machinery
           80,832,762
7.2%
Chemicals
           67,427,222
6.0%
Pharmaceuticals
           65,438,495
5.8%
Household products
           44,928,409
4.0%
Automobiles
           44,610,584
3.9%
Beverages
           32,257,396
2.9%
Semiconductors & semiconductor equipment
           30,273,156
2.7%
Food products
           29,134,752
2.6%
Electronic equipment, instruments & components
           28,154,523
2.5%
Software
           24,434,625
2.2%
Diversified financial services
           21,402,501
1.9%
Auto components
           20,996,847
1.9%
Industrial conglomerates
           19,957,057
1.8%
Professional services
           19,702,191
1.7%
Airlines
           19,698,759
1.7%
Multiline retail
           18,943,071
1.7%
Capital markets
           18,012,871
1.6%
Tobacco
           17,867,734
1.6%
Biotechnology
           17,089,737
1.5%
Life sciences tools & services
           16,944,974
1.5%
Metals & mining
           16,692,192
1.5%
Diversified telecommunication services
           15,964,552
1.4%
Hotels, restaurants & leisure
           15,780,756
1.4%
Electrical equipment
           15,628,407
1.4%
Food & staples retailing
           15,584,572
1.4%
Construction & engineering
           15,157,727
1.3%
Media
           14,786,972
1.3%
Textiles, apparel & luxury goods
           14,580,639
1.3%
Health care equipment & supplies
           14,521,042
1.3%
Personal products
           14,068,498
1.2%
Health care providers & services
           14,009,052
1.2%
Wireless telecommunication services
           12,259,140
1.1%


Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON EAGLE INVESTMENT GRADE BOND FUND
       
CORPORATE BONDS - 53.8%
 
Principal Amount
   
Value
 
Domestic - 44.8%
           
Auto manufacturers - 4.1%
       
Daimler Finance North America LLC, (3 Month LIBOR USD + 0.63%), 144A, 2.33%, 01/06/20  (a)
 
$
250,000
   
$
251,814
 
Hyundai Capital America, 144A, 2.45%, 06/15/21  (a)
   
250,000
     
242,827
 
Nissan Motor Acceptance Corp., 144A, 1.90%, 09/14/21  (a)
   
250,000
     
241,205
 
Toyota Motor Credit Corp., (3 Month LIBOR USD + 0.39%), 2.12%, 01/17/19
   
500,000
     
501,254
 
Banks - 6.6%
         
BankUnited, Inc., 4.88%, 11/17/25
   
250,000
     
261,294
 
BB&T Corp., 2.85%, 10/26/24
   
500,000
     
490,882
 
First Tennessee Bank NA, 2.95%, 12/01/19
   
250,000
     
250,622
 
SunTrust Banks, Inc., 2.90%, 03/03/21
   
250,000
     
250,365
 
The Huntington National Bank, 2.40%, 04/01/20
   
250,000
     
248,416
 
US Bank NA, (3 Month LIBOR USD + 0.48%), 2.24%, 10/28/19
   
500,000
     
502,700
 
Biotechnology - 1.3%
         
Amgen, Inc., 2.65%, 05/11/22
   
250,000
     
246,284
 
Celgene Corp., 3.95%, 10/15/20
   
135,000
     
138,897
 
Building products - 0.8%
         
Lennox International, Inc., 3.00%, 11/15/23
   
250,000
     
243,946
 
Capital markets - 3.0%
         
E*TRADE Financial Corp., 2.95%, 08/24/22
   
150,000
     
147,396
 
Moody's Corp., 2.75%, 07/15/19
   
250,000
     
250,709
 
Morgan Stanley, (3 Month LIBOR USD + 0.80%), 2.21%, 02/14/20
   
250,000
     
251,275
 
The Goldman Sachs Group, Inc., 2.63%, 04/25/21
   
250,000
     
247,719
 
Commercial services & supplies - 0.8%
         
Pitney Bowes, Inc., 4.13%, 05/15/22
   
250,000
     
239,688
 
Communications equipment - 0.3%
         
Juniper Networks, Inc., 3.13%, 02/26/19
   
100,000
     
100,803
 
Electric Utilities - 0.8%
         
Edison International, 2.40%, 09/15/22
   
250,000
     
241,694
 
Electronic equipment, instruments & components - 2.3%
         
Amphenol Corp., 3.13%, 09/15/21
   
250,000
     
251,624
 
Avnet, Inc., 3.75%, 12/01/21
   
250,000
     
253,582
 
FLIR Systems, Inc., 3.13%, 06/15/21
   
200,000
     
199,709
 
Equity real estate investment trusts (REITs) - 2.5%
         
American Tower Corp., 3.30%, 02/15/21
   
250,000
     
252,843
 
Omega Healthcare Investors, Inc., 4.38%, 08/01/23
   
250,000
     
250,495
 
Ventas Realty LP, 3.13%, 06/15/23
   
250,000
     
246,634
 
Health care equipment & supplies - 0.3%
         
Abbott Laboratories, 2.80%, 09/15/20
   
100,000
     
100,239
 
Health care providers & services - 0.8%
         
Cardinal Health, Inc., 1.95%, 06/14/19
   
250,000
     
247,937
 
Insurance - 1.1%
         
Chubb INA Holdings, Inc., 2.30%, 11/03/20
   
100,000
     
99,241
 
Metropolitan Life Global Funding I, 144A, 2.30%, 04/10/19  (a)
   
250,000
     
249,838
 
IT services - 3.7%
         
Broadridge Financial Solutions, Inc., 3.95%, 09/01/20
   
250,000
     
256,837
 
Fidelity National Information Services, Inc., 2.25%, 08/15/21
   
250,000
     
243,945
 
Fiserv, Inc., 4.63%, 10/01/20
   
100,000
     
104,748
 
International Business Machines Corp., (3 Month LIBOR USD + 0.23%), 1.99%, 01/27/20
   
500,000
     
501,564
 
 

Life sciences tools & services - 0.8%
         
Thermo Fisher Scientific, Inc., 3.00%, 04/15/23
   
250,000
     
248,138
 
Machinery-diversified - 0.5%
         
John Deere Capital Corp., (3 Month LIBOR USD + 0.29%), 1.99%, 10/09/19
   
150,000
     
150,438
 
Media - 2.7%
         
Scripps Networks Interactive, Inc., 2.80%, 06/15/20
   
250,000
     
249,037
 
The Interpublic Group of Cos., Inc., 4.20%, 04/15/24
   
291,000
     
300,390
 
Time Warner Cable LLC, 5.00%, 02/01/20
   
250,000
     
259,661
 
Oil, gas & consumable fuels - 2.9%
         
Andeavor, 4.75%, 12/15/23
   
250,000
     
266,693
 
ONEOK Partners LP, 3.80%, 03/15/20
   
100,000
     
101,622
 
Valero Energy Partners LP, 4.38%, 12/15/26
   
250,000
     
257,766
 
Williams Partners LP, 4.13%, 11/15/20
   
250,000
     
257,886
 
Pharmaceuticals - 0.8%
         
Bayer US Finance LLC, 144A, 3.00%, 10/08/21  (a)
   
250,000
     
250,577
 
Private equity - 0.9%
         
Apollo Management Holdings LP, 144A, 4.40%, 05/27/26  (a)
   
250,000
     
258,222
 
Road & rail - 0.5%
         
Ryder System, Inc., 2.65%, 03/02/20
   
150,000
     
149,936
 
Semiconductors - 0.8%
         
Broadcom Corp./Broadcom Cayman Finance Ltd., 144A, 3.00%, 01/15/22  (a)
   
250,000
     
245,508
 
Software - 4.1%
         
Activision Blizzard, Inc., 2.30%, 09/15/21
   
250,000
     
244,620
 
CA, Inc., 5.38%, 12/01/19
   
250,000
     
261,281
 
Oracle Corp., (3 Month LIBOR USD + 0.58%), 2.30%, 01/15/19
   
500,000
     
502,681
 
VMware, Inc., 2.95%, 08/21/22
   
250,000
     
242,301
 
Specialty retail - 0.7%
         
O'Reilly Automotive, Inc., 3.80%, 09/01/22
   
200,000
     
207,444
 
Technology hardware, storage & peripherals - 1.7%
         
Apple, Inc., (3 Month LIBOR USD + 0.30%), 1.71%, 05/06/20
   
250,000
     
251,488
 
NetApp, Inc., 3.38%, 06/15/21
   
250,000
     
252,807
 
Total domestic corporate bonds (cost $13,591,920)
     
13,567,522
 
Foreign - 9.0%
         
Aerospace & defense - 0.6%
         
Rolls-Royce PLC, 144A, 2.38%, 10/14/20  (a)
   
200,000
     
197,908
 
Banks - 1.6%
         
National Australia Bank Ltd., 144A, 2.25%, 07/01/19  (a)
   
250,000
     
249,351
 
Royal Bank Of Canada, 2.10%, 10/14/20
   
250,000
     
246,640
 
Diversified financial services - 0.8%
         
Genpact Luxembourg Sarl, 144A, 3.70%, 04/01/22  (a)
   
250,000
     
245,774
 
Food products - 0.8%
         
Danone SA, 144A, 2.59%, 11/02/23  (a)
   
250,000
     
241,663
 
Hotels, restaurants & leisure - 0.9%
         
Carnival Corp., 3.95%, 10/15/20
   
250,000
     
260,054
 
Insurance - 0.8%
         
Trinity Acquisition PLC, 3.50%, 09/15/21
   
250,000
     
252,153
 
Internet software & services - 0.8%
         
Tencent Holdings Ltd., 144A, 2.88%, 02/11/20  (a)
   
250,000
     
250,795
 
Pharmaceuticals - 1.0%
         
Mylan NV, 2.50%, 06/07/19
   
50,000
     
49,841
 
Shire Acquisitions Investments Ireland DAC, 2.40%, 09/23/21
   
250,000
     
244,118
 
Semiconductors - 1.7%
         
NXP BV/NXP Funding LLC, 144A, 3.88%, 09/01/22  (a)
   
500,000
     
504,375
 
Total foreign corporate bonds (cost $2,772,250)
     
2,742,672
 
Total corporate bonds (cost $16,364,170)
     
16,310,194
 
 

MORTGAGE AND ASSET-BACKED SECURITIES - 33.4%
         
Asset-backed securities - 3.7%
         
Citibank Credit Card Issuance Trust, Series 2008-A1, Class A-1, 5.35%, 02/07/20
   
415,000
     
415,123
 
Ford Credit Auto Owners Trust, Series 2015-A, Class A-4, 1.64%, 06/15/20
   
350,000
     
348,955
 
Toyota Auto Receivables Owner Trust, Series 2015-C, Class A-4, 1.69%, 12/15/20
   
350,000
     
348,697
 
Federal agency mortgage-backed obligations - 29.7%
         
Fannie Mae Pool,
               
Series 0798, Class AK, 3.50%, 01/01/27
   
273,503
     
280,004
 
Series 1558, Class AL, 4.00%, 01/01/27
   
141,605
     
147,849
 
Series 1895, Class MA, 2.50%, 05/01/24
   
235,948
     
235,114
 
Series 2020, Class MA, 2.50%, 09/01/24
   
243,702
     
242,839
 
Series 2185, Class MA, 3.00%, 02/01/25
   
238,783
     
240,938
 
Series 2233, Class MA, 2.50%, 04/01/25
   
270,670
     
269,711
 
Series 2239, Class MA, 3.00%, 04/01/25
   
508,470
     
513,072
 
Series 2570, Class MA, 3.00%, 03/01/26
   
413,581
     
417,325
 
Series 2612, Class MA, 2.50%, 05/01/26
   
385,652
     
384,284
 
Series 6384, Class AE, 4.00%, 01/01/26
   
200,380
     
207,701
 
Series 7446, Class AA, 4.00%, 06/01/24
   
170,370
     
176,011
 
Freddie Mac Gold Pool,
               
Series 13368, Class G, 6.00%, 11/01/23
   
195,779
     
204,053
 
Series 15449, Class J, 4.00%, 05/01/26
   
123,684
     
128,522
 
Series 18317, Class G, 4.50%, 07/01/24
   
98,770
     
103,065
 
Series 18509, Class G, 3.50%, 04/01/29
   
342,698
     
351,964
 
Series 18513, Class G, 3.50%, 05/01/29
   
292,128
     
300,048
 
Series 18519, Class G, 3.50%, 07/01/29
   
625,937
     
642,889
 
Series 18592, Class G, 3.00%, 03/01/31
   
442,853
     
445,142
 
Series 18597, Class G, 3.50%, 04/01/31
   
544,470
     
558,791
 
Freddie Mac REMIC,
               
Series K-007, Class A-1, 3.34%, 12/25/19
   
2,397
     
2,394
 
Series K-024, Class A-2, 2.57%, 09/25/22
   
169,000
     
167,889
 
Series K-026, Class A-2, 2.51%, 11/25/22
   
250,000
     
247,442
 
Series K-027, Class A-2, 2.64%, 01/25/23
   
1,110,000
     
1,104,889
 
Series K-051, Class A-1, 2.89%, 04/25/25
   
238,462
     
238,980
 
Series K-055, Class A-1, 2.26%, 04/25/25
   
471,977
     
460,677
 
Series K-065, Class A-1, 2.86%, 10/25/26
   
494,973
     
491,334
 
Ginnie Mae I Pool, Series 783112, 5.50%, 09/15/22
   
129,993
     
134,420
 
Ginnie Mae II Pool, Series 5107, 4.00%, 07/20/26
   
300,889
     
312,319
 
Total mortgage and asset-backed securities (cost $10,262,034)
     
10,122,441
 
                 
FOREIGN GOVERNMENT BONDS - 0.5%
         
Province of Alberta Canada, 144A, 1.75%, 08/26/20  (a)
   
150,000
     
146,809
 
Total foreign government bonds (cost $149,309)
     
146,809
 
                 
U.S. TREASURIES - 2.4%
         
U.S. Treasury Notes, 2.00%, 11/30/20
   
750,000
     
744,023
 
Total U.S. Treasuries (cost $757,522)
     
744,023
 
                 
U.S. GOVERNMENT AGENCY SECURITES - 0.8%
         
Fannie Mae, 2.00%, 01/05/22
   
250,000
     
245,785
 
Total U.S. Government agency securities (cost $251,673)
     
245,785
 
 

SUPRANATIONAL BANKS - 3.3%
         
Inter-American Development Bank, (3 Month LIBOR USD + 0.00%), 1.72%, 01/15/22
   
1,000,000
     
995,773
 
Total supranational banks (cost $997,750)
     
995,773
 
Total investment portfolio (cost $28,782,458) - 94.2%‡
     
28,565,025
 
Other assets in excess of liabilities - 5.8%
     
1,747,156
 
Total net assets - 100.0%
   
$
30,312,181
 
 
(a) Restricted securities deemed to be liquid for purpose of compliance limitations on holdings of illiquid securities. At January 31, 2017, these securities aggregated $3,576,666 or 11.8% of the net assets of the Fund.
 
144A - Securities are purchased under Rule 144A of the Securities Act of 1933 or are private placements and, unless registered under the Securities Act of 1933 or exempted from registration, generally may only be sold to qualified institutional buyers.
 
REMIC—Real estate mortgage investment conduit
     
       
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
     
Cost of investments
 
$
28,782,458
 
Gross unrealized appreciation
   
91,116
 
Gross unrealized depreciation
   
(308,549
)
Net unrealized appreciation (depreciation)
 
$
(217,433
)
         
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
 


 
Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON REAMS LOW DURATION BOND FUND
       
CORPORATE BONDS - 63.6%
 
Principal Amount
   
Value
 
Aerospace & defense - 1.5%
       
L3 Technologies, Inc., 5.20%, 10/15/19
 
$
100,000
   
$
104,173
 
Northrop Grumman Corp., 2.08%, 10/15/20
   
250,000
     
246,340
 
Airlines - 3.4%
         
American Airlines, Pass Through Trust, Series 2013-2, Class A, 4.95%, 07/15/24
   
418,732
     
440,213
 
Delta Air Lines, Pass Through Trust, Series 2007-1, Class A, 6.82%, 02/10/24
   
244,561
     
274,324
 
Northwest Airlines, Pass Through Trust, Series 2007-1, Class A, 7.03%, 05/01/21
   
51,898
     
55,671
 
Auto manufacturers - 4.0%
         
American Honda Finance Corp., 1.20%, 07/12/19
   
265,000
     
260,578
 
Daimler Finance North America LLC,
               
144A, 1.75%, 10/30/19  (a)
   
150,000
     
147,889
 
144A, 2.20%, 05/05/20  (a)
   
100,000
     
98,892
 
General Motors Financial Co., Inc., 3.20%, 07/13/20
   
230,000
     
231,729
 
Nissan Motor Acceptance Corp., 144A, 1.55%, 09/13/19  (a)
   
85,000
     
83,676
 
Toyota Motor Credit Corp., 1.70%, 02/19/19
   
80,000
     
79,591
 
Banks - 10.6%
         
Bank of America Corp.,
               
(3 Month LIBOR USD + 1.00%), 2.74%, 04/24/23
   
245,000
     
250,189
 
5.63%, 07/01/20
   
380,000
     
407,234
 
Bank of Montreal, 1.75%, 09/11/19
   
140,000
     
138,373
 
BB&T Corp., 2.25%, 02/01/19
   
240,000
     
240,291
 
Capital One NA, 2.35%, 01/31/20
   
250,000
     
247,916
 
Citigroup, Inc., 2.05%, 06/07/19
   
310,000
     
308,144
 
Credit Suisse AG, 2.30%, 05/28/19
   
110,000
     
109,804
 
ING Bank NV,
               
144A, 1.65%, 08/15/19  (a)
   
100,000
     
98,530
 
144A, 2.50%, 10/01/19  (a)
   
200,000
     
199,597
 
JPMorgan Chase & Co., 6.30%, 04/23/19
   
85,000
     
89,030
 
UBS AG, 144A, 2.45%, 12/01/20  (a)
   
200,000
     
198,298
 
Wells Fargo & Co., 2.13%, 04/22/19
   
140,000
     
139,631
 
Beverages - 2.4%
         
Constellation Brands, Inc.,
               
2.25%, 11/06/20
   
320,000
     
315,440
 
3.75%, 05/01/21
   
225,000
     
230,405
 
Biotechnology - 1.2%
         
Amgen, Inc., 4.10%, 06/15/21
   
255,000
     
265,169
 
Capital markets - 2.6%
         
Morgan Stanley, 2.80%, 06/16/20
   
140,000
     
140,247
 
The Goldman Sachs Group, Inc.,
               
2.30%, 12/13/19
   
275,000
     
273,604
 
2.60%, 12/27/20
   
180,000
     
179,121
 
Chemicals - 0.8%
         
E.I. du Pont de Nemours & Co., 2.20%, 05/01/20
   
190,000
     
188,787
 
 

Commercial services - 2.1%
         
ERAC USA Finance LLC, 144A, 2.60%, 12/01/21  (a)
   
485,000
     
475,604
 
Computers - 0.5%
         
IBM Credit LLC, 1.80%, 01/20/21
   
125,000
     
122,130
 
Consumer finance - 2.6%
         
Ally Financial, Inc., 3.75%, 11/18/19
   
115,000
     
116,006
 
American Express Credit Corp.,
               
2.13%, 03/18/19
   
300,000
     
299,322
 
2.60%, 09/14/20
   
170,000
     
170,184
 
Containers & packaging - 0.4%
         
Packaging Corp of America, 2.45%, 12/15/20
   
100,000
     
99,481
 
Diversified financial services - 3.4%
         
AIG Global Funding,
               
144A, 1.90%, 10/06/21  (a)
   
240,000
     
231,217
 
144A, 1.95%, 10/18/19  (a)
   
225,000
     
222,425
 
GE Capital International Funding Co. Unlimited Co., 2.34%, 11/15/20
   
120,000
     
118,335
 
Protective Life Global Funding, 144A, 1.56%, 09/13/19  (a)
   
215,000
     
212,010
 
Diversified telecommunication services - 2.6%
         
AT&T, Inc., 2.45%, 06/30/20
   
360,000
     
357,744
 
Verizon Communications, Inc., 3.13%, 03/16/22
   
235,000
     
235,609
 
Electric - 1.1%
         
PSEG Power LLC, 2.45%, 11/15/18
   
245,000
     
245,425
 
Equity real estate investment trusts (REITs) - 1.0%
         
AvalonBay Communities, Inc., 3.63%, 10/01/20
   
115,000
     
117,963
 
ERP Operating LP, 4.75%, 07/15/20
   
110,000
     
115,153
 
Food - 0.7%
         
Kraft Heinz Foods Co., 2.80%, 07/02/20
   
155,000
     
155,111
 
Food & staples retailing - 0.5%
         
Sysco Corp., 2.60%, 10/01/20
   
115,000
     
115,174
 
Food products - 1.0%
         
Danone S.A., 144A, 1.69%, 10/30/19  (a)
   
155,000
     
152,722
 
Tyson Foods, Inc., 2.25%, 08/23/21
   
85,000
     
82,992
 
Health care equipment & supplies - 1.0%
         
Becton, Dickinson and Co., 2.40%, 06/05/20
   
235,000
     
232,584
 
Health care providers & services - 0.6%
         
Anthem, Inc., 2.50%, 11/21/20
   
130,000
     
129,267
 
Health care services - 0.5%
         
HCA, Inc., 6.50%, 02/15/20
   
115,000
     
122,619
 
Hotels, restaurants & leisure - 0.3%
         
McDonald's Corp., 2.75%, 12/09/20
   
75,000
     
75,316
 
Insurance - 6.1%
         
American International Group, Inc.,
               
3.30%, 03/01/21
   
155,000
     
156,780
 
6.40%, 12/15/20
   
80,000
     
87,929
 
MassMutual Global Funding II,
               
144A, 1.55%, 10/11/19  (a)
   
240,000
     
236,631
 
144A, 1.95%, 09/22/20  (a)
   
220,000
     
216,227
 
Metropolitan Life Global Funding I,
               
144A, 1.55%, 09/13/19  (a)
   
150,000
     
147,822
 
144A, 1.75%, 09/19/19  (a)
   
200,000
     
197,765
 
New York Life Global Funding, 144A, 1.70%, 09/14/21  (a)
   
135,000
     
129,826
 
Prudential Financial, Inc., 5.38%, 06/21/20
   
215,000
     
228,515
 
 

Media - 2.0%
         
21st Century Fox America, Inc., 4.50%, 02/15/21
   
180,000
     
189,962
 
Discovery Communications LLC, 2.20%, 09/20/19
   
120,000
     
118,946
 
Time Warner Cable LLC, 8.25%, 04/01/19
   
135,000
     
143,433
 
Mining - 0.5%
         
Anglo American Capital PLC, 144A, 9.38%, 04/08/19  (a)
   
95,000
     
102,293
 
Oil & gas - 1.1%
         
BP Capital Markets PLC, 4.50%, 10/01/20
   
150,000
     
157,379
 
Noble Holding International Ltd., 5.75%, 03/16/18
   
90,000
     
90,225
 
Pharmaceuticals - 1.7%
         
Allergan Funding SCS, 3.00%, 03/12/20
   
285,000
     
286,031
 
Teva Pharmaceutical Finance Netherlands III BV, 1.70%, 07/19/19
   
95,000
     
92,867
 
Road & rail- 1.4%
         
CSX Corp., 3.70%, 10/30/20
   
65,000
     
66,808
 
Norfolk Southern Corp., 3.25%, 12/01/21
   
115,000
     
116,594
 
Ryder System, Inc., 2.50%, 05/11/20
   
140,000
     
139,376
 
Semiconductors - 1.3%
         
Broadcom Corp./Broadcom Cayman Finance Ltd., 144A, 2.20%, 01/15/21  (a)
   
310,000
     
301,002
 
Software - 0.5%
         
VMware, Inc., 2.30%, 08/21/20
   
105,000
     
103,006
 
Telecommunications - 1.3%
         
Deutsche Telekom International Finance BV, 144A, 2.23%, 01/17/20  (a)
   
305,000
     
302,475
 
Tobacco - 0.5%
         
Philip Morris International, Inc., 1.63%, 02/21/19
   
120,000
     
119,213
 
Trading companies & distributors - 2.0%
         
Air Lease Corp.,
               
2.13%, 01/15/20
   
105,000
     
103,971
 
3.88%, 04/01/21
   
340,000
     
348,870
 
Transportation - 0.4%
         
Union Pacific Railroad Co., Pass Through Trust, Series 2005-1, 5.08%, 01/02/29
   
79,943
     
85,991
 
Total corporate bonds (cost $14,673,522)
     
14,517,216
 
                 
MORTGAGE AND ASSET-BACKED SECURITIES - 21.6%
         
Asset-backed securities - 3.8%
         
AmeriCredit Automobile Receivables Trust, Series 2017-4, Class A2A, 1.83%, 05/18/21
   
225,000
     
224,436
 
Bank of The West Auto Trust, Series 2017-1, Class A2, 144A, 1.78%, 02/15/21  (a)
   
225,000
     
224,224
 
Fifth Third Auto Trust, Series 2017-1, Class A2A, 1.59%, 04/15/20
   
200,000
     
199,390
 
GMACM Home Equity Loan Trust, (1 Month LIBOR USD + 0.50%), Series 2003-HE1, Class A3, 2.06%, 04/25/33
   
78,485
     
74,608
 
Santander Drive Auto Receivables Trust, Series 2017-3, Class A2, 1.67%, 06/15/20
   
155,000
     
154,695
 
Commercial mortgage-backed securities - 8.0%
         
Banc of America Commercial Mortgage Trust, Series 2016-UBS10, Class A1, 1.56%, 07/16/49
   
145,908
     
143,882
 
Citigroup Commercial Mortgage Trust,
               
Series 2017-C4, Class A1, 2.12%, 10/14/50
   
130,520
     
128,920
 
Series 2017-P8, Class A1, 2.07%, 09/16/50
   
236,087
     
232,220
 
COMM Mortgage Trust,
               
Series 2012-CR3, Class ASB, 2.37%, 10/17/45
   
80,901
     
80,358
 
Series 2013-CR6, Class A2, 2.12%, 03/12/46
   
10,762
     
10,756
 
Series 2014-CR16, Class A1, 1.45%, 04/12/47
   
26,656
     
26,581
 
Series 2014-CR16, Class A2, 3.04%, 04/12/47
   
160,000
     
161,045
 
DBJPM Mortgage Trust, Series 2016-C1, Class A1, 1.68%, 05/12/49
   
76,164
     
75,292
 
GS Mortgage Securities Trust, Series 2014-GC22, Class A1, 1.29%, 06/12/47
   
50,500
     
50,241
 
JPMBB Commercial Mortgage Securities Trust, Series 2015-C33, Class A1, 1.90%, 12/17/48
   
88,804
     
88,157
 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C26, Class A1, 1.59%, 10/19/48
   
184,062
     
180,863
 
UBS-Barclays Commercial Mortgage Trust, Series 2013-C6, Class A2, 2.07%, 04/12/46
   
90,195
     
90,178
 
 

Wells Fargo Commercial Mortgage Trust,
               
Series 2015-C27, Class A1, 1.73%, 02/18/48
   
34,312
     
34,276
 
Series 2015-C31, Class A1, 1.68%, 11/18/48
   
187,583
     
185,997
 
Series 2016-C34, Class A1, 1.42%, 06/17/49
   
120,559
     
118,531
 
WFRBS Commercial Mortgage Trust,
               
Series 2013-C17, Class A1, 1.15%, 12/17/46
   
83,663
     
83,468
 
Series 2013-UBS1, Class A2, 2.93%, 03/16/46
   
130,000
     
130,502
 
Federal agency mortgage-backed obligations - 9.8%
         
Fannie Mae Pool, Series 1585, Class MA, 2.00%, 09/01/23
   
212,178
     
210,584
 
Fannie Mae REMIC,
               
(1 Month LIBOR USD + 0.65%), Series 2008-76, Class GF, 2.21%, 09/25/23
   
4,135
     
4,137
 
Series 2011-6, Class BA, 2.75%, 06/25/20
   
8,873
     
8,924
 
Series 2011-88, Class AB, 2.50%, 09/25/26
   
21,882
     
21,877
 
Series 2011-122, Class A, 3.00%, 12/25/25
   
65,232
     
65,508
 
Series 2011-141, Class EA, 1.75%, 07/25/21
   
73,587
     
73,082
 
Series 2011-143, Class AC, 1.75%, 04/25/21
   
62,182
     
61,936
 
Series 2011-143, Class M, 1.75%, 01/25/22
   
57,544
     
56,962
 
Series 2011-145, Class A, 1.75%, 06/25/21
   
91,490
     
91,019
 
Series 2013-136, Class KA, 2.00%, 05/25/25
   
61,943
     
61,778
 
Fannie Mae-Aces,
               
Series 2013-M4, Class ASQ2, 1.45%, 02/25/18
   
4,560
     
4,555
 
Series 2013-M5, Class ASQ4, 1.92%, 01/25/22
   
123,573
     
122,149
 
Series 2013-M13, Class A, 1.60%, 05/25/18
   
28,121
     
28,067
 
Series 2015-M7, Class ASQ2, 1.55%, 04/25/18
   
73,441
     
73,349
 
Series 2016-M3, Class ASQ1, 1.47%, 02/25/23
   
125,406
     
124,317
 
Series 2016-M7, Class AV1, 1.56%, 10/25/23
   
198,428
     
194,244
 
Freddie Mac Gold Pool, Series 15142, Class G, 3.00%, 07/01/24
   
199,310
     
201,051
 
Freddie Mac REMIC,
               
Series 2764, Class UE, 5.00%, 10/15/32
   
8,994
     
9,028
 
Series 3768, Class DE, 2.25%, 11/15/28
   
14,913
     
14,919
 
Series 3836, Class MC, 2.00%, 05/15/20
   
12,624
     
12,595
 
Series 3939, Class WB, 3.00%, 10/15/25
   
208,096
     
208,561
 
Series 4083, Class DC, 1.50%, 07/15/27
   
257,173
     
247,381
 
Series 4302, Class AB, 1.75%, 11/15/29
   
223,240
     
218,514
 
Series 4350, Class CA, 2.00%, 10/15/19
   
5,361
     
5,361
 
Series 4383, Class JC, 2.00%, 05/15/23
   
42,187
     
42,090
 
Series 4399, Class A, 2.50%, 07/15/24
   
17,085
     
17,076
 
Series K-007, Class A1, 3.34%, 12/25/19
   
2,853
     
2,849
 
Series K-009, Class A1, 2.76%, 05/25/20
   
31,886
     
31,978
 
Series K-504, Class A1, 1.68%, 10/25/19
   
18,397
     
18,368
 
Total mortgage and asset-backed securities (cost $4,989,116)
     
4,930,879
 
                 
U.S. TREASURIES - 13.1%
         
U.S. Treasury Notes, 1.63%, 04/30/19
   
3,000,000
     
2,985,762
 
Total U.S. Treasuries (cost $2,985,703)
     
2,985,762
 
Total investment portfolio (cost $22,648,341) - 98.3%‡
     
22,433,857
 
Other assets in excess of liabilities - 1.7%
     
380,757
 
Total net assets - 100.0%
   
$
22,814,614
 
 

(a) Restricted securities deemed to be liquid for purpose of compliance limitations on holdings of illiquid securities. At January 31, 2017, these securities aggregated $3,979,125 or 17.4% of the net assets of the Fund.
 
144A - Securities are purchased under Rule 144A of the Securities Act of 1933 or are private placements and, unless registered under the Securities Act of 1933 or exempted from registration, generally may only be sold to qualified institutional buyers.
 
REMIC—Real estate mortgage investment conduit
     
       
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
     
Cost of investments
 
$
22,648,341
 
Gross unrealized appreciation
   
6,631
 
Gross unrealized depreciation
   
(221,115
)
Net unrealized appreciation (depreciation)
 
$
(214,484
)
         
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
 


Carillon Reams Low Duration Bond Fund 
                                         
                                               
SWAP CONTRACTS
 
     
 
 
 
                             
CREDIT DEFAULT SWAPS
 
     
 
 
 
                             
 Exchange
Reference
Entity
Buy/
Sell(b)
Protection
 
Rating of
Reference Entity
(Moody's/S&P)
 
Pay/Receive
Fixed Rate
 
 Fixed
 Rate
 Expiration
 Date
 
Implied
Credit
Spread(c)
   
Notional
Value(d)
   
Value (e)
   
Premiums
Paid
(Received)
   
Unrealized
Appreciation
(Depreciation)
 
                                               
Intercontinental Exchange
CDX North America High Yield Index
Series 29
Sell
   
B1/B+
 
Receive
5%/
Quarterly
12/20/2022
   
2.97%
 
$
250,000
   
$
22,318
   
$
16,200
   
$
6,118
 
 TOTAL SWAP CONTRACTS
                         
$
250,000
   
$
22,318
   
$
16,200
   
$
6,118
 
                                                           
 
(b)If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation of underlying securities comprising the referenced index.
 
(c)Implied credit spreads represent the current level as of January 31, 2018 at which protection could be bought or sold given the terms of the existing credit default swap contract and serve as an indicator of the current status of the payment/performance risk of the credit default swap contract. An implied credit spread has widened or increased since entry into initial contract and may indicate a deteriorating credit profile and increased risk of default for the reference entity. A declining or narrowing spread may indicate an improving credit profile or decreased risk of default for the reference entity. Alternatively, credit spreads may increase or decrease reflecting the general tolerance for risk in the credit spread markets generally.
 
(d)The maximum potential amount the Fund could be required to make as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
 
(e)The prices and resulting values for credit default swap agreements on credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
 


Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON REAMS CORE BOND FUND
       
CORPORATE BONDS - 24.0%
 
Principal Amount
   
Value
 
Airlines - 1.8%
       
American Airlines, Pass Through Trust,
           
Series 2011-1, Class A, 5.25%, 07/31/22
 
$
263,372
   
$
277,199
 
Series 2013-1, Class A, 4.00%, 01/15/27
   
546,539
     
560,787
 
Series 2013-2, Class A, 4.95%, 07/15/24
   
261,708
     
275,133
 
Delta Air Lines, Pass Through Trust, Series 2007-1, Class A, 6.82%, 02/10/24
   
520,599
     
583,956
 
Northwest Airlines, Pass Through Trust, Series 2007-1, Class A, 7.03%, 05/01/21
   
373,019
     
400,138
 
Auto manufacturers - 5.1%
         
Daimler Finance North America LLC,
               
144A, 1.75%, 10/30/19  (a)
   
675,000
     
665,501
 
144A, 2.30%, 01/06/20  (a)
   
880,000
     
874,588
 
Ford Motor Credit Co. LLC,
               
2.55%, 10/05/18
   
555,000
     
556,908
 
2.88%, 10/01/18
   
2,045,000
     
2,055,381
 
Toyota Motor Credit Corp., (3 Month LIBOR USD + 0.15%), 1.82%, 12/24/18
   
2,000,000
     
2,001,347
 
Banks - 7.1%
         
Bank of America Corp., 3.50%, 04/19/26
   
595,000
     
599,124
 
Bank of America NA, 2.05%, 12/07/18
   
390,000
     
389,741
 
Capital One NA, 2.35%, 08/17/18
   
390,000
     
390,506
 
Citigroup, Inc., 2.15%, 07/30/18
   
595,000
     
595,314
 
JPMorgan Chase & Co.,
               
(3 Month LIBOR USD + 0.55%), 2.09%, 03/09/21
   
1,880,000
     
1,890,039
 
2.55%, 03/01/21
   
540,000
     
536,985
 
2.75%, 06/23/20
   
470,000
     
471,626
 
JPMorgan Chase Bank NA, (3 Month LIBOR USD + 0.29%), 2.06%, 02/01/21
   
970,000
     
970,980
 
UBS AG, 144A, 2.45%, 12/01/20  (a)
   
415,000
     
411,468
 
Wells Fargo & Co.,
               
2.60%, 07/22/20
   
795,000
     
794,110
 
(3 Month LIBOR USD + 1.23%), 3.00%, 10/31/23
   
1,475,000
     
1,520,535
 
Chemicals - 0.3%
         
The Sherwin-Williams Co., 2.25%, 05/15/20
   
415,000
     
411,105
 
Consumer finance - 1.8%
         
American Express Co., 2.20%, 10/30/20
   
665,000
     
655,885
 
American Express Credit Corp.,
               
1.70%, 10/30/19
   
750,000
     
740,364
 
1.88%, 05/03/19
   
95,000
     
94,423
 
2.60%, 09/14/20
   
705,000
     
705,763
 
Diversified telecommunication services - 1.3%
         
AT&T, Inc.,
               
3.40%, 08/14/24
   
965,000
     
964,994
 
3.80%, 03/01/24
   
280,000
     
282,761
 
4.25%, 03/01/27
   
245,000
     
249,322
 
Health care equipment & supplies - 0.6%
         
Abbott Laboratories, 2.35%, 11/22/19
   
665,000
     
663,097
 
Hotels, restaurants & leisure - 0.3%
         
McDonald's Corp., 2.10%, 12/07/18
   
405,000
     
404,928
 
Insurance - 2.8%
         
American International Group, Inc., 6.40%, 12/15/20
   
535,000
     
588,026
 
MassMutual Global Funding II, 144A, 1.95%, 09/22/20  (a)
   
1,075,000
     
1,056,565
 
Metropolitan Life Global Funding I, 144A, 1.35%, 09/14/18  (a)
   
1,335,000
     
1,328,014
 
Reliance Standard Life Global Funding II, 144A, 2.50%, 01/15/20  (a)
   
385,000
     
383,231
 
 

Oil & gas - 0.5%
         
ConocoPhillips Co., 3.35%, 05/15/25
   
595,000
     
599,905
 
Tobacco - 0.7%
         
Philip Morris International, Inc., 2.00%, 02/21/20
   
850,000
     
841,316
 
Transportation - 1.7%
         
Burlington Northern and Santa Fe Railway Co., Pass Through Trust,
               
Series 2001-2, 6.46%, 01/15/21
   
121,147
     
126,901
 
Series 2004-1, 4.58%, 01/15/21
   
246,473
     
251,970
 
CSX Transportation, Inc., 6.25%, 01/15/23
   
246,803
     
276,543
 
Union Pacific Railroad Co., Pass Through Trust,
               
Series 2004, 5.40%, 07/02/25
   
291,454
     
302,414
 
Series 2005, 5.08%, 01/02/29
   
561,887
     
604,390
 
Series 2006, 5.87%, 07/02/30
   
457,993
     
511,965
 
Total corporate bonds (cost $28,672,798)
     
28,865,248
 
                 
MORTGAGE AND ASSET-BACKED SECURITIES - 37.7%
         
Asset-backed securities - 1.1%
         
Hertz Vehicle Financing II LP, Series 2015-2A, Class A, 144A, 2.02%, 09/25/19  (a)
   
1,155,000
     
1,152,097
 
Mercedes-Benz Auto Receivables Trust, Series 2016-1, Class A2A, 1.11%, 03/15/19
   
201,838
     
201,744
 
Commercial mortgage-backed securities - 3.1%
         
CFCRE Commercial Mortgage Trust, Series 2016-C3, Class A3, 3.87%, 01/10/48
   
800,000
     
824,705
 
COMM Mortagage Trust, Series 2013-CCRE9, Class ASB,  3.83%, 07/12/45
   
630,000
     
649,405
 
GS Mortgage Securities Trust,
               
Series 2012-GCJ7, Class A4, 3.38%, 05/12/45
   
901,199
     
913,966
 
Series 2013-GCJ14, Class AAB, 3.82%, 08/10/46
   
355,000
     
365,900
 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C26, Class A3, 3.21%, 10/19/48
   
955,000
     
943,321
 
Federal agency mortgage-backed obligations - 33.5%
         
Fannie Mae Pool,
               
Series 1313, Class MA, 2.00%, 01/01/23
   
365,534
     
362,800
 
Series 1671, Class AM, 2.10%, 12/01/27
   
1,034,259
     
980,901
 
Series 2182, Class AM, 2.16%, 01/01/23
   
1,305,310
     
1,267,790
 
Series 2822, Class AB, 2.50%, 03/01/26
   
280,348
     
279,182
 
Series 4328, Class AA, 4.00%, 04/01/24
   
187,047
     
193,239
 
Series 6090, Class AB, 2.50%, 09/01/22
   
375,650
     
374,329
 
Series 8539, Class AL, 4.50%, 01/01/27
   
87,023
     
87,781
 
Series 8744, Class AB, 2.00%, 03/01/23
   
152,752
     
151,606
 
Series 8874, Class AB, 2.00%, 04/01/23
   
151,146
     
150,012
 
Series 9180, Class AB, 2.00%, 05/01/23
   
437,655
     
434,368
 
Series 9550, Class AL, 2.50%, 07/01/25
   
450,270
     
448,678
 
Series 386320, 4.55%, 10/01/33
   
864,942
     
864,691
 
Series 465468, 3.33%, 07/01/20
   
371,403
     
375,755
 
Series 468763, 3.17%, 08/01/18
   
1,368,753
     
1,367,850
 
TBA, 2.50%, 03/15/48
   
1,155,000
     
1,088,181
 
TBA, 3.00%, 03/15/48
   
12,985,000
     
12,708,301
 
TBA, 3.50%, 03/15/48
   
5,990,000
     
6,036,095
 
Fannie Mae REMIC, Series 2008-76, Class GF, (1 Month LIBOR USD + 0.65%), 2.21%, 09/25/23
   
21,187
     
21,198
 
Fannie Mae-Aces,
               
Series 2013-M14, Class A, 1.70%, 08/25/18
   
1,056,831
     
1,053,957
 
Series 2014-M1, Class A1, VR, 2.33%, 07/25/23
   
150,835
     
150,824
 
Series 2014-M13, Class AB2, VR, 2.95%, 08/25/24
   
350,561
     
345,759
 
Series 2015-M11, Class A1, 2.10%, 04/25/25
   
570,882
     
562,427
 
Series 2015-M7, Class ASQ2, 1.55%, 04/25/18
   
182,934
     
182,705
 
Series 2016-M2, Class ABV2, 2.13%, 01/25/23
   
723,418
     
702,904
 
Series 2016-M3, Class ASQ2, 2.26%, 02/25/23
   
1,080,000
     
1,056,422
 
Series 2016-M6, Class AB2, 2.40%, 05/25/26
   
1,005,000
     
943,468
 
Series 2016-M7, Class AV2, 2.16%, 10/25/23
   
2,495,000
     
2,407,490
 
 

Freddie Mac Gold Pool,
               
Series 14074, Class G, 4.50%, 08/01/18
   
106,470
     
107,488
 
Series 14075, Class G, 4.50%, 08/01/18
   
167,367
     
168,968
 
Series 14660, Class G, 2.00%, 01/01/28
   
1,162,389
     
1,128,885
 
Series 15226, Class G, 4.50%, 08/01/20
   
917,067
     
925,841
 
Freddie Mac REMIC,
               
Series 3609, Class LA, 4.00%, 12/15/24
   
40,225
     
40,504
 
Series 4233, Class MD, 1.75%, 03/15/25
   
135,196
     
134,757
 
Series K-F17, Class A, (1 Month LIBOR USD + 0.55%), 1.92%, 03/25/23
   
1,162,730
     
1,167,466
 
Ginnie Mae I Pool,
               
Series 0091, Class AD, 2.73%, 06/15/32
   
1,413,035
     
1,344,531
 
Series 2583, Class AB, 2.14%, 08/15/23
   
679,854
     
656,176
 
Total mortgage and asset-backed securities (cost $44,552,695)
     
45,324,467
 
                 
U.S. TREASURIES - 48.7%
         
United States Treasury Bond, 2.75%, 08/15/47
   
10,970,000
     
10,546,198
 
United States Treasury Notes,
               
0.75%, 02/28/18
   
1,615,000
     
1,614,241
 
1.25%, 10/31/21
   
13,725,000
     
13,155,627
 
1.38%, 09/30/20
   
7,665,000
     
7,489,543
 
1.63%, 10/31/23
   
10,510,000
     
9,971,773
 
2.00%, 01/31/20
   
2,710,000
     
2,701,955
 
2.25%, 11/15/27
   
13,505,000
     
12,962,162
 
Total U.S. Treasuries (cost $60,212,381)
     
58,441,499
 
Total investment portfolio (cost $133,437,874) - 110.4%‡
     
132,631,214
 
Liabilities in excess of other assets - (10.4)%
     
(12,522,768
)
Total net assets - 100.0%
   
$
120,108,446
 
 
(a) Restricted securities deemed to be liquid for purpose of compliance limitations on holdings of illiquid securities. At January 31, 2017, these securities aggregated $ 5,871,464 or 4.9% of the net assets of the Fund.
 
144A - Securities are purchased under Rule 144A of the Securities Act of 1933 or are private placements and, unless registered under the Securities Act of 1933 or exempted from registration, generally may only be sold to qualified institutional buyers.
 
TBA - To-be-announced security. Securities are being used in dollar roll transactions.
 
VR - Variable rate security. Interest rate adjusts periodically based on changes in current interest rates. Rate shown is the rate in effect at period end.
 
REMIC - Real estate mortgage investment conduit
     
       
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
     
Cost of investments
 
$
133,437,874
 
Gross unrealized appreciation
   
322,834
 
Gross unrealized depreciation
   
(1,129,494
)
Net unrealized appreciation (depreciation)
 
$
(806,660
)
         
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
 


Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON REAMS CORE PLUS BOND FUND
       
CORPORATE BONDS - 22.7%
 
Principal Amount
   
Value
 
Airlines - 1.3%
       
American Airlines, Pass Through Trust,
           
Series 2011-1, Class A, 5.25%, 07/31/22
 
$
926,504
   
$
975,146
 
Series 2013-1, Class A, 4.00%, 01/15/27
   
108,533
     
111,362
 
Series 2013-2, Class A, 4.95%, 07/15/24
   
1,406,242
     
1,478,382
 
Delta Air Lines, Pass Through Trust, Series 2007-1, Class A, 6.82%, 02/10/24
   
818,430
     
918,033
 
Northwest Airlines, Pass Through Trust, Series 2007-1, Class A, 7.03%, 05/01/21
   
2,591,675
     
2,780,090
 
US Airways, Pass Through Trust,
               
Series 2011-1A, Class A, 7.13%, 04/22/25
   
859,002
     
973,335
 
Series 2012-1A, Class A, 5.90%, 04/01/26
   
2,035,201
     
2,234,447
 
Auto manufacturers - 4.0%
         
Daimler Finance North America LLC,
               
144A, 1.75%, 10/30/19  (a)
   
1,780,000
     
1,754,952
 
144A, 2.00%, 08/03/18  (a)
   
4,350,000
     
4,348,941
 
144A, 2.30%, 01/06/20  (a)
   
4,830,000
     
4,800,295
 
Ford Motor Credit Co. LLC,
               
   2.55%, 10/05/18
   
2,800,000
     
2,809,624
 
   5.00%, 05/15/18
   
6,170,000
     
6,220,494
 
Toyota Motor Credit Corp., (3 Month LIBOR USD + 0.15%), 1.82%, 12/24/18
   
9,770,000
     
9,776,581
 
Banks - 8.3%
         
Bank of America Corp., 3.50%, 04/19/26
   
3,060,000
     
3,081,209
 
Bank of America NA,
               
1.75%, 06/05/18
   
5,305,000
     
5,302,432
 
2.05%, 12/07/18
   
1,490,000
     
1,489,012
 
Capital One NA, 2.35%, 08/17/18
   
2,870,000
     
2,873,721
 
Citigroup, Inc.,
               
1.80%, 02/05/18
   
5,355,000
     
5,354,914
 
2.15%, 07/30/18
   
3,440,000
     
3,441,817
 
JPMorgan Chase & Co.,
               
(3 Month LIBOR USD + 0.55%), 2.09%, 03/09/21
   
7,145,000
     
7,183,154
 
2.55%, 03/01/21
   
2,835,000
     
2,819,168
 
2.75%, 06/23/20
   
2,445,000
     
2,453,461
 
3.25%, 09/23/22
   
1,780,000
     
1,797,310
 
JPMorgan Chase Bank NA, (3 Month LIBOR USD + 0.29%), 2.06%, 02/01/21
   
6,095,000
     
6,101,156
 
UBS AG,
               
  1.80%, 03/26/18
   
6,620,000
     
6,620,404
 
  144A, 2.45%, 12/01/20  (a)
   
2,600,000
     
2,577,872
 
Wells Fargo & Co.,
               
2.60%, 07/22/20
   
3,877,000
     
3,872,658
 
(3 Month LIBOR USD + 1.23%), 3.00%, 10/31/23
   
6,390,000
     
6,587,268
 
Chemicals - 0.3%
         
The Sherwin-Williams Co., 2.25%, 05/15/20
   
1,950,000
     
1,931,697
 
Consumer finance - 1.9%
         
Ally Financial, Inc., 3.25%, 11/05/18
   
2,440,000
     
2,446,100
 
American Express Co., 2.20%, 10/30/20
   
3,230,000
     
3,185,728
 
American Express Credit Corp.,
               
1.70%, 10/30/19
   
3,520,000
     
3,474,776
 
1.88%, 05/03/19
   
1,920,000
     
1,908,322
 
2.60%, 09/14/20
   
2,915,000
     
2,918,155
 
Diversified telecommunication services - 1.1%
         
AT&T, Inc.,
               
3.40%, 08/14/24
   
4,770,000
     
4,769,973
 
3.80%, 03/01/24
   
1,445,000
     
1,459,247
 
4.25%, 03/01/27
   
2,170,000
     
2,208,280
 
Health care equipment & supplies - 0.4%
         
Abbott Laboratories, 2.35%, 11/22/19
   
2,900,000
     
2,891,703
 
 

Health care providers & services - 0.3%
         
UnitedHealth Group, Inc., 1.90%, 07/16/18
   
2,475,000
     
2,474,793
 
Hotels, restaurants & leisure - 0.3%
         
McDonald's Corp., 2.10%, 12/07/18
   
2,090,000
     
2,089,630
 
Insurance - 3.6%
         
American International Group, Inc., 6.40%, 12/15/20
   
3,175,000
     
3,489,686
 
MassMutual Global Funding II, 144A, 1.95%, 09/22/20  (a)
   
5,920,000
     
5,818,478
 
Metropolitan Life Global Funding I, 144A, 1.35%, 09/14/18  (a)
   
7,520,000
     
7,480,649
 
New York Life Global Funding, (3 Month LIBOR USD + 0.12%), 144A, 1.83%, 04/12/19  (a)
   
7,720,000
     
7,724,769
 
Reliance Standard Life Global Funding II, 144A, 2.50%, 01/15/20  (a)
   
2,050,000
     
2,040,584
 
Oil, gas & consumable fuels - 0.3%
         
Energy Transfer LP, 4.05%, 03/15/25
   
2,205,000
     
2,195,415
 
Tobacco - 0.8%
         
Philip Morris International, Inc., 2.00%, 02/21/20
   
6,130,000
     
6,067,371
 
Transportation - 0.1%
         
Burlington Northern and Santa Fe Railway Co., Pass Through Trust,
               
Series 2001-2, 6.46%, 01/15/21
   
377,527
     
395,459
 
Series 2005-4, 4.97%, 04/01/23
   
429,107
     
460,443
 
Total corporate bonds (cost $167,122,551)
     
168,168,496
 
                 
MORTGAGE AND ASSET-BACKED SECURITIES - 31.8%
         
Asset-backed securities - 0.9%
         
Hertz Vehicle Financing II LP, Series 2015-2A, Class A, 144A, 2.02%, 09/25/19  (a)
   
4,165,000
     
4,154,529
 
Home Equity Loan Trust,
               
(1 Month LIBOR USD + 0.28%), Series 2003-HS3, Class A2A, 1.84%, 08/25/33
   
15,943
     
15,924
 
Series 2006-HSA2, Class AI3, VR, 5.55%, 11/25/27
   
394,358
     
219,996
 
Mercedes-Benz Auto Receivables Trust, Series 2016-1, Class A2A, 1.11%, 03/15/19
   
1,022,174
     
1,021,699
 
RFMSII Trust, Series 2006-HSA1, Class A4, SB, 5.99%, 02/25/36
   
905,958
     
877,654
 
Commercial mortgage-backed securities - 2.8%
         
CFCRE Commercial Mortgage Trust, Series 2016-C3, Class A3, 3.87%, 01/10/48
   
5,600,000
     
5,772,933
 
COMM Mortgage Trust, Series 2013-CCRE9, Class ASB, 3.83%, 07/12/45
   
4,000,000
     
4,123,209
 
GS Mortgage Securities Trust,
               
Series 2012-GCJ7, Class A4, 3.38%, 05/12/45
   
4,785,844
     
4,853,640
 
Series 2013-GC14, Class AAB, 3.82%, 08/10/46
   
2,235,000
     
2,303,627
 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C26, Class A3, 3.21%, 10/19/48
   
4,075,000
     
4,025,166
 
Federal agency mortgage-backed obligations - 28.1%
         
Fannie Mae Pool,
               
Series 1313, Class MA, 2.00%, 01/01/23
   
1,591,583
     
1,579,678
 
Series 1500, Class MA, 2.00%, 07/01/23
   
1,361,862
     
1,351,637
 
Series 1671, Class AM, 2.10%, 12/01/27
   
2,003,876
     
1,900,496
 
Series 2182, Class AM, 2.16%, 01/01/23
   
6,688,034
     
6,495,789
 
Series 2822, Class AB, 2.50%, 03/01/26
   
584,629
     
582,196
 
Series 4328, Class AA, 4.00%, 04/01/24
   
558,915
     
577,416
 
Series 6090, Class AB, 2.50%, 09/01/22
   
1,792,683
     
1,786,380
 
Series 8539, Class AL, 4.50%, 01/01/27
   
383,792
     
387,138
 
Series 8744, Class AB, 2.00%, 03/01/23
   
671,017
     
665,982
 
Series 8874, Class AB, 2.00%, 04/01/23
   
663,652
     
658,672
 
Series 9180, Class AB, 2.00%, 05/01/23
   
2,045,265
     
2,029,906
 
Series 9550, Class AL, 2.50%, 07/01/25
   
2,128,875
     
2,121,350
 
Series 465468, 3.33%, 07/01/20
   
791,442
     
800,716
 
Series 466284, 3.33%, 10/01/20
   
3,294,972
     
3,356,615
 
Series 466319, 3.23%, 11/01/20
   
3,201,402
     
3,254,094
 
Series 468763, 3.17%, 08/01/18
   
5,055,914
     
5,052,579
 
TBA, 2.50%, 03/15/48
   
7,590,000
     
7,150,906
 
TBA, 3.00%, 03/15/48
   
76,930,000
     
75,290,692
 
TBA, 3.50%, 03/15/48
   
31,800,000
     
32,044,711
 
 

Fannie Mae-Aces,
               
Series 2013-M14, Class A, 1.70%, 08/25/18
   
2,401,889
     
2,395,357
 
Series 2014-M1, Class A1, VR, 2.33%, 07/25/23
   
366,456
     
366,429
 
Series 2014-M13, Class AB2, VR, 2.95%, 08/25/24
   
1,733,328
     
1,709,586
 
Series 2015-M7, Class ASQ2, 1.55%, 04/25/18
   
508,743
     
508,107
 
Series 2015-M11, Class A1, 2.10%, 04/25/25
   
1,865,609
     
1,837,978
 
Series 2016-M2, Class ABV2, 2.13%, 01/25/23
   
2,831,536
     
2,751,244
 
Series 2016-M3, Class ASQ2, 2.26%, 02/25/23
   
4,145,000
     
4,054,508
 
Series 2016-M6, Class AB2, 2.40%, 05/25/26
   
4,655,000
     
4,369,992
 
Series 2016-M7, Class AV2, 2.16%, 10/25/23
   
9,610,000
     
9,272,938
 
Freddie Mac Gold Pool,
               
Series 14074, Class G, 4.50%, 08/01/18
   
467,289
     
471,760
 
Series 14075, Class G, 4.50%, 08/01/18
   
734,281
     
741,307
 
Series 14660, Class G, 2.00%, 01/01/28
   
6,217,250
     
6,038,051
 
Series 15226, Class G, 4.50%, 08/01/20
   
4,041,832
     
4,080,501
 
Freddie Mac REMIC,
               
(1 Month LIBOR USD + 0.67%), Series K-F15, Class A, 2.23%, 02/25/23
   
8,133,280
     
8,177,851
 
(1 Month LIBOR USD + 0.55%), Series K-F17, Class A, 2.11%, 03/25/23
   
4,350,548
     
4,368,267
 
Series 3609, Class LA, 4.00%, 12/15/24
   
190,068
     
191,384
 
Series 4233, Class MD, 1.75%, 03/15/25
   
399,460
     
398,165
 
Ginnie Mae I Pool,
               
Series 0091, Class AD, 2.73%, 06/15/32
   
7,765,651
     
7,389,173
 
Series 2583, Class AB, 2.14%, 08/15/23
   
1,759,944
     
1,698,648
 
Total mortgage and asset-backed securities (cost $237,544,955)
     
235,276,576
 
                 
U.S. TREASURIES - 58.0%
         
U.S. Treasury Notes,
               
0.75%, 02/28/18
   
17,200,000
     
17,191,916
 
1.25%, 10/31/21
   
103,045,000
     
98,770,242
 
1.38%, 09/30/20
   
38,575,000
     
37,691,994
 
1.63%, 10/31/23
   
104,485,000
     
99,134,225
 
2.00%, 01/31/20
   
14,610,000
     
14,566,627
 
2.25%, 11/15/27
   
101,905,000
     
97,808,897
 
2.75%, 08/15/47
   
67,465,000
     
64,858,637
 
Total U.S. Treasuries (cost $435,060,355)
     
430,022,538
 
Total investment portfolio (cost $839,727,861) - 112.5%‡
     
833,467,610
 
Liabilities in excess of other assets - (12.5)%
     
(92,891,852
)
Total net assets - 100.0%
   
$
740,575,758
 
 
(a) Restricted securities deemed to be liquid for purpose of compliance limitations on holdings of illiquid securities. At January 31, 2017, these securities aggregated $40,701,069 or 5.5% of the net assets of the Fund.
 
144A - Securities are purchased under Rule 144A of the Securities Act of 1933 or are private placements and, unless registered under the Securities Act of 1933 or exempted from registration, generally may only be sold to qualified institutional buyers.
 
TBA - To-be-announced security. Securities are being used in dollar roll transactions.
 
VR - Variable rate security. Interest rate adjusts periodically based on changes in current interest rates. Rate shown is the rate in effect at period end.
 
REMIC—Real estate mortgage investment conduit
     
SB - Step bond. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown is the rate in effect as of January 31, 2018.
 
       
‡The cost basis of investments for federal income tax purposes at January 31, 2017 was as follows+:
     
Cost of investments
 
$
839,727,861
 
Gross unrealized appreciation
   
2,224,267
 
Gross unrealized depreciation
   
(8,484,518
)
Net unrealized appreciation (depreciation)
 
$
(6,260,251
)
         
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
 


 
 
 
                       
FUTURES CONTRACTS
 
                       
Description
Expiration
Date
 
Number of
Contracts
Long (Short)
   
Notional Value
at Trade Date
   
Notional Value
at January 31, 2018
   
Fair Value/
Unrealized
Appreciation
(Depreciation)
 
Euro-Bond Futures^
March 2018
   
(540)
 
 
$
(109,280,811
)
 
$
(106,479,440
)
 
$
2,801,371
 
TOTAL FUTURES CONTRACTS
           
$
(109,280,811
)
 
$
(106,479,440
)
 
$
2,801,371
 
                                   
^ Contracts are denominated in Euro. Notional amount, notional value and unrealized appreciation (depreciation) have been translated into U.S. Dollars as of January 31, 2018.
 
                                   
There is $63,195 of variation margin due from the broker to the Fund as of January 31, 2018.
 


 
Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON REAMS UNCONSTRAINED BOND FUND
       
CORPORATE BONDS - 25.1%
 
Principal Amount
   
Value
 
Airlines - 1.1%
       
American Airlines, Pass Through Trust, Series 2013-2, Class A, 4.95%, 07/15/24
 
$
2,219,281
   
$
2,333,130
 
Continental Airlines, Pass Through Trust, Series 2007-1, Class A, 5.98%, 10/19/23
   
1,811,742
     
1,963,748
 
Northwest Airlines, Pass Through Trust, Series 2007-1, Class A, 7.03%, 05/01/21
   
3,425,293
     
3,674,311
 
US Airways, Pass Through Trust,
               
Series 2010-1A, Class A, 6.25%, 10/22/24
   
5,092,132
     
5,586,578
 
Series 2012-1A, Class A, 5.90%, 04/01/26
   
2,809,304
     
3,084,335
 
Auto manufacturers - 4.9%
         
Daimler Finance North America LLC,
               
144A, 1.75%, 10/30/19  (a)
   
5,150,000
     
5,077,529
 
144A, 2.00%, 08/03/18  (a)
   
5,945,000
     
5,943,552
 
144A, 2.30%, 01/06/20  (a)
   
8,650,000
     
8,596,803
 
Ford Motor Credit Co. LLC,
               
2.43%, 06/12/20
   
8,440,000
     
8,342,535
 
2.55%, 10/05/18
   
5,690,000
     
5,709,558
 
2.88%, 10/01/18
   
15,510,000
     
15,588,734
 
2.94%, 01/08/19
   
8,500,000
     
8,546,434
 
Toyota Motor Credit Corp., (3 Month LIBOR USD + 0.15%), 1.82%, 12/24/18
   
18,750,000
     
18,762,630
 
Banks - 9.0%
         
Bank of America Corp., 2.60%, 01/15/19
   
6,625,000
     
6,653,425
 
Bank of America NA,
               
1.65%, 03/26/18
   
6,905,000
     
6,905,000
 
1.75%, 06/05/18
   
7,415,000
     
7,411,410
 
2.05%, 12/07/18
   
2,635,000
     
2,633,253
 
Capital One NA, 2.35%, 08/17/18
   
3,800,000
     
3,804,927
 
Citigroup, Inc.,
               
1.80%, 02/05/18
   
9,850,000
     
9,849,842
 
(3 Month LIBOR USD + 0.95%), 2.69%, 07/24/23
   
11,970,000
     
12,138,228
 
Credit Suisse AG, 1.70%, 04/27/18
   
8,500,000
     
8,498,215
 
JPMorgan Chase & Co.,
               
(3 Month LIBOR USD + 0.55%), 2.09%, 03/09/21
   
24,075,000
     
24,203,561
 
2.75%, 06/23/20
   
5,485,000
     
5,503,980
 
JPMorgan Chase Bank NA, (3 Month LIBOR USD + 0.29%), 2.06%, 02/01/21
   
16,690,000
     
16,706,857
 
UBS AG,
               
  1.80%, 03/26/18
   
10,900,000
     
10,900,664
 
  144A, 2.45%, 12/01/20  (a)
   
5,755,000
     
5,706,019
 
Wells Fargo & Co.,
               
2.55%, 12/07/20
   
6,005,000
     
5,979,203
 
(3 Month LIBOR USD + 1.23%), 3.00%, 10/31/23
   
13,305,000
     
13,715,745
 
Capital markets - 0.2%
         
The Goldman Sachs Group, Inc., 2.75%, 09/15/20
   
2,750,000
     
2,750,160
 
Chemicals - 0.2%
         
The Sherwin-Williams Co., 2.25%, 05/15/20
   
3,895,000
     
3,858,440
 
 

Consumer finance - 1.8%
         
Ally Financial, Inc., 3.25%, 11/05/18
   
9,325,000
     
9,348,313
 
American Express Co., 2.20%, 10/30/20
   
6,450,000
     
6,361,592
 
American Express Credit Corp.,
               
1.70%, 10/30/19
   
5,500,000
     
5,429,337
 
2.60%, 09/14/20
   
6,435,000
     
6,441,966
 
Diversified financial services - 0.8%
         
AIG Global Funding,
               
144A, 1.95%, 10/18/19  (a)
   
8,255,000
     
8,160,522
 
(3 Month LIBOR USD + 0.48%), 144A, 2.17%, 07/02/20  (a)
   
4,770,000
     
4,778,287
 
Diversified telecommunication services - 0.5%
         
AT&T, Inc., 3.40%, 08/14/24
   
8,340,000
     
8,339,953
 
Health care equipment & supplies - 1.2%
         
Abbott Laboratories, 2.35%, 11/22/19
   
7,075,000
     
7,054,758
 
Becton, Dickinson and Co.,
               
2.13%, 06/06/19
   
4,855,000
     
4,824,350
 
2.40%, 06/05/20
   
6,700,000
     
6,631,121
 
Health care providers & services - 0.4%
         
UnitedHealth Group, Inc., 1.90%, 07/16/18
   
6,500,000
     
6,499,456
 
Insurance - 2.9%
         
MassMutual Global Funding II, 144A, 1.95%, 09/22/20  (a)
   
12,055,000
     
11,848,268
 
Metropolitan Life Global Funding I, 144A, 1.35%, 09/14/18  (a)
   
14,300,000
     
14,225,171
 
New York Life Global Funding, (3 Month LIBOR USD + 0.12%), 144A, 1.83%, 04/12/19  (a)
   
14,175,000
     
14,183,756
 
Reliance Standard Life Global Funding II, 144A, 2.50%, 01/15/20  (a)
   
4,550,000
     
4,529,101
 
Machinery - Construction & Mining - 1.1%
         
Caterpillar Financial Services Corp., (3 Month LIBOR USD + 0.18%), 1.69%, 12/06/18
   
17,925,000
     
17,941,097
 
Oil, gas & consumable fuels - 0.4%
         
Energy Transfer LP, 4.05%, 03/15/25
   
6,392,000
     
6,364,215
 
Tobacco - 0.6%
         
Philip Morris International, Inc., 2.00%, 02/21/20
   
8,800,000
     
8,710,092
 
Total corporate bonds (cost $390,469,280)
     
392,100,161
 
                 
MORTGAGE AND ASSET-BACKED SECURITIES - 7.1%
         
Asset backed securities - 2.4%
         
Bank of The West Auto Trust,
               
144A, Series 2015-1, Class A3, 1.31%, 10/15/19  (a)
   
998,027
     
997,356
 
144A, Series 2017-1, Class A2, 1.78%, 02/15/21  (a)
   
14,815,000
     
14,763,934
 
Countrywide Asset-Backed Certificates, Series 2006-S10, Class A3, (1 Month LIBOR USD + 0.32%), 1.88%, 10/25/36
   
1,627,534
     
1,536,487
 
Hertz Vehicle Financing II LP, Series 2015-2A, Class A, 144A, 2.02%, 09/25/19  (a)
   
9,455,000
     
9,431,230
 
Home Equity Loan Trust,
               
Series 2003-HS3, Class A2A, (1 Month LIBOR USD + 0.28%), 1.84%, 08/25/33
   
1,015
     
1,014
 
Series 2006-HSA2, Class AI3, VR, 5.55%, 11/25/27
   
3,986,074
     
2,223,664
 
Hyundai Auto Receivables Trust, Series 2016-B, Class A2, 1.12%, 10/15/19
   
8,028,989
     
8,008,201
 
SunTrust Auto Receivables Trust, 144A, Series 2015-1A, Class A3, 1.42%, 09/16/19  (a)
   
481,119
     
480,967
 
Commercial mortgage-backed securities - 0.3%
         
GS Mortgage Securities Trust, Series 2013-GC14, Class AAB, 3.82%, 08/10/46
   
4,750,000
     
4,895,850
 
Federal agency mortgage-backed obligations - 4.4%
         
Fannie Mae Pool,
               
(1 Month LIBOR USD + 0.24%), Series 7028, Class AM, 1.80%, 10/01/19
   
16,465,000
     
16,463,738
 
TBA, 3.00%, 03/15/48
   
24,575,000
     
24,051,329
 
Fannie Mae-Aces,
               
 Series 2014-M1, Class A1, VR, 2.33%, 07/25/23
   
1,384,718
     
1,384,617
 
 Series 2013-M9, Class ASQ2, 1.82%, 06/25/18
   
5,233,049
     
5,225,269
 
Freddie Mac REMIC,
               
(1 Month LIBOR USD + 0.67%), Series K-F15, Class A, 2.23%, 02/25/23
   
15,642,167
     
15,727,887
 
(1 Month LIBOR USD + 0.55%), Series K-F17, Class A, 2.11%, 03/25/23
   
5,765,203
     
5,788,684
 
Total mortgage and asset-backed securities (cost $111,428,822)
     
110,980,227
 
                 
U.S. TREASURIES - 64.9%
         
U.S. Treasury Notes,
               
0.75%, 04/30/18
   
54,750,000
     
54,656,791
 
0.88%, 03/31/18
   
32,615,000
     
32,587,561
 
1.25%, 10/31/21
   
390,690,000
     
374,482,467
 
1.50%, 10/31/19
   
64,940,000
     
64,255,086
 
1.88%, 02/28/22
   
31,265,000
     
30,562,759
 
2.00%, 12/31/21
   
157,705,000
     
155,154,614
 
2.25%, 08/15/27
   
53,975,000
     
51,849,734
 
2.25%, 11/15/27
   
262,165,000
     
251,627,196
 
Total U.S. Treasuries (cost $1,029,997,406)
     
1,015,176,208
 
Total investment portfolio (cost $1,531,895,508) - 97.1%‡
     
1,518,256,596
 
Other assets in excess of liabilities - 2.9%
     
45,027,027
 
Total net assets - 100.0%
   
$
1,563,283,623
 
 
(a) Security is fair valued as determined in good faith in accordance with the Pricing and Valuation Procedures approved by the Board of Trustees. The security is also illiquid and may not be sold by the Fund. As of January 31, 2018, the total market value of fair valued and illiquid securities held by the Fund is $108,722,495, representing 7.0% of the Fund's net assets.
 
144A - Securities are purchased under Rule 144A of the Securities Act of 1933 or are private placements and, unless registered under the Securities Act of 1933 or exempted from registration, generally may only be sold to qualified institutional buyers.
 
TBA - To-be-announced security. Securities are being used in dollar roll transactions.
 
VR - Variable rate security. Interest rate adjusts periodically based on changes in current interest rates. Rate shown is the rate in effect at period end.
 
REMIC - Real estate mortgage investment conduit
     
       
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
     
Cost of investments
 
$
1,531,895,508
 
Gross unrealized appreciation
   
3,254,195
 
Gross unrealized depreciation
   
(16,893,107
)
Net unrealized appreciation (depreciation)
 
$
(13,638,912
)
         
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
 


 
 
 
                       
FUTURES CONTRACTS
 
                       
Description
Expiration
Date
 
Number of
Contracts
Long (Short)
   
Notional Value
at Trade Date
   
Notional Value
at January 31, 2018
   
Fair Value/
Unrealized
Appreciation
(Depreciation)
 
Euro-Bond Futures^
March 2018
   
(1,830)
 
 
$
(369,120,545
)
 
$
(360,846,990
)
 
$
8,273,555
 
TOTAL FUTURES CONTRACTS
           
$
(369,120,545
)
 
$
(360,846,990
)
 
$
8,273,555
 
                                   
^ Contracts are denominated in Euro. Notional amount, notional value and unrealized appreciation (depreciation) have been translated into U.S. Dollars as of January 31, 2018.
 
                                   
There is $207,093 of variation margin due from the broker to the Fund as of January 31, 2018.
 


 
Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON EAGLE MID CAP GROWTH FUND
       
COMMON STOCKS - 97.8%
 
Shares
   
Value
 
Aerospace & defense - 1.9%
       
Harris Corp.
   
173,486
   
$
27,650,199
 
Hexcel Corp.
   
453,953
     
31,027,688
 
Air freight & logistics - 0.9%
         
C.H. Robinson Worldwide, Inc.
   
297,606
     
27,219,045
 
Airlines - 1.7%
         
Delta Air Lines, Inc.
   
437,124
     
24,815,530
 
Southwest Airlines Co.
   
426,859
     
25,953,027
 
Auto components - 0.7%
         
Aptiv PLC
   
239,205
     
22,695,770
 
Banks - 2.0%
         
Synovus Financial Corp.
   
594,868
     
29,975,398
 
Western Alliance Bancorp*
   
546,654
     
32,066,724
 
Beverages - 2.9%
         
Constellation Brands, Inc., Class A
   
160,496
     
35,224,057
 
Monster Beverage Corp.*
   
773,362
     
52,766,489
 
Biotechnology - 1.4%
         
BioMarin Pharmaceutical, Inc.*
   
256,719
     
23,163,755
 
Incyte Corp.*
   
200,185
     
18,074,704
 
Building products - 2.6%
         
A.O. Smith Corp.
   
427,529
     
28,550,387
 
Allegion PLC
   
262,874
     
22,636,080
 
Fortune Brands Home & Security, Inc.
   
373,950
     
26,524,273
 
Capital markets - 3.9%
         
Ameriprise Financial, Inc.
   
339,792
     
57,322,910
 
MarketAxess Holdings, Inc.
   
154,591
     
30,332,300
 
Moody's Corp.
   
199,653
     
32,301,859
 
Chemicals - 2.0%
         
Huntsman Corp.
   
831,963
     
28,760,961
 
The Sherwin-Williams Co.
   
74,686
     
31,152,277
 
Commercial services & supplies - 2.4%
         
Waste Connections, Inc.
   
1,005,407
     
72,208,331
 
Construction materials - 1.5%
         
Martin Marietta Materials, Inc.
   
202,571
     
46,220,625
 
Containers & packaging - 0.9%
         
Ball Corp.
   
677,543
     
25,936,346
 
Distributors - 1.1%
         
Pool Corp.
   
254,445
     
34,411,142
 
Diversified telecommunication services - 0.8%
         
Zayo Group Holdings, Inc.*
   
701,006
     
25,726,920
 
Electrical equipment - 0.6%
         
Acuity Brands, Inc.
   
125,728
     
19,417,432
 
 

Electronic equipment, instruments & components - 6.0%
         
Amphenol Corp., Class A
   
311,119
     
28,862,510
 
Coherent, Inc.*
   
215,787
     
56,001,042
 
FLIR Systems, Inc.
   
504,307
     
25,825,562
 
IPG Photonics Corp.*
   
154,939
     
39,036,881
 
Keysight Technologies, Inc.*
   
679,085
     
31,726,851
 
Equity real estate investment trusts (REITs) - 2.5%
         
Crown Castle International Corp.
   
235,644
     
26,573,574
 
SBA Communications Corp.*
   
278,032
     
48,516,584
 
Food products - 0.8%
         
The Hain Celestial Group, Inc.*
   
650,713
     
24,818,194
 
Health care equipment & supplies - 7.8%
         
ABIOMED, Inc.*
   
157,576
     
37,030,360
 
Align Technology, Inc.*
   
295,600
     
77,447,200
 
Edwards Lifesciences Corp.*
   
346,414
     
43,849,084
 
IDEXX Laboratories, Inc.*
   
248,386
     
46,458,118
 
Intuitive Surgical, Inc.*
   
73,987
     
31,937,968
 
Health care providers & services - 1.9%
         
Centene Corp.*
   
265,568
     
28,479,512
 
Cigna Corp.
   
139,294
     
29,021,905
 
Hotels, restaurants & leisure - 5.5%
         
ILG, Inc.
   
1,004,300
     
31,545,063
 
MGM Resorts International
   
1,188,865
     
43,334,129
 
Royal Caribbean Cruises Ltd.
   
440,480
     
58,826,104
 
Vail Resorts, Inc.
   
149,783
     
32,736,573
 
Household durables - 1.8%
         
Lennar Corp., Class A
   
874,030
     
54,766,720
 
Insurance - 1.7%
         
The Progressive Corp.
   
935,040
     
50,585,664
 
Internet & direct marketing retail - 2.0%
         
Liberty Interactive Corp. QVC Group, Class A*
   
2,188,989
     
61,488,701
 
IT services - 3.2%
         
DXC Technology Co.
   
263,593
     
26,240,683
 
Square, Inc., Class A*
   
899,596
     
42,200,048
 
Worldpay, Inc., Class A*
   
363,285
     
29,175,418
 
Leisure products - 0.8%
         
Brunswick Corp.
   
374,137
     
23,488,321
 
Life sciences tools & services - 2.8%
         
Charles River Laboratories International, Inc.*
   
250,242
     
26,385,517
 
Illumina, Inc.*
   
181,186
     
42,151,111
 
Mettler-Toledo International, Inc.*
   
26,155
     
17,661,425
 
Machinery - 1.2%
         
WABCO Holdings, Inc.*
   
241,506
     
37,286,111
 
 

Media - 3.1%
         
Lions Gate Entertainment Corp., Class A*
   
598,052
     
20,238,080
 
Lions Gate Entertainment Corp., Class B*
   
310,166
     
9,925,312
 
Sirius XM Holdings, Inc.
   
10,334,924
     
63,146,385
 
Multiline retail - 1.1%
         
Dollar Tree, Inc.*
   
289,519
     
33,294,685
 
Oil, gas & consumable fuels - 2.4%
         
Diamondback Energy, Inc.*
   
346,852
     
43,529,926
 
RSP Permian, Inc.*
   
715,588
     
28,394,532
 
Pharmaceuticals - 1.5%
         
Zoetis, Inc.
   
579,430
     
44,459,664
 
Professional services - 2.9%
         
IHS Markit Ltd.*
   
697,925
     
33,311,960
 
TransUnion*
   
902,252
     
53,557,679
 
Road & rail - 1.1%
         
Old Dominion Freight Line, Inc.
   
224,122
     
32,822,667
 
Semiconductors & semiconductor equipment - 6.5%
         
Advanced Micro Devices, Inc.*
   
2,616,141
     
35,945,777
 
Maxim Integrated Products, Inc.
   
391,290
     
23,868,690
 
Microchip Technology, Inc.
   
429,795
     
40,925,080
 
Micron Technology, Inc.*
   
526,584
     
23,022,253
 
Microsemi Corp.*
   
445,981
     
27,557,166
 
NVIDIA Corp.
   
190,820
     
46,903,556
 
Software - 9.7%
         
Autodesk, Inc.*
   
270,054
     
31,223,644
 
Electronic Arts, Inc.*
   
439,466
     
55,794,603
 
PTC, Inc.*
   
379,433
     
27,577,190
 
ServiceNow, Inc.*
   
210,147
     
31,284,584
 
Splunk, Inc.*
   
411,964
     
38,053,115
 
Synopsys, Inc.*
   
314,229
     
29,100,748
 
Tableau Software, Inc., Class A*
   
346,205
     
26,592,006
 
The Ultimate Software Group, Inc.*
   
112,906
     
26,294,678
 
Tyler Technologies, Inc.*
   
145,615
     
29,342,879
 
Specialty retail - 1.9%
         
Burlington Stores, Inc.*
   
481,918
     
58,654,240
 
Technology hardware, storage & peripherals - 1.0%
         
Seagate Technology PLC
   
563,392
     
31,099,238
 
Trading companies & distributors - 1.3%
         
United Rentals, Inc.*
   
217,341
     
39,362,628
 
Total common stocks (cost $2,057,502,264)
     
2,970,874,127
 
Total investment portfolio (cost $2,057,502,264) - 97.8%‡
     
2,970,874,127
 
Other assets in excess of liabilities - 2.2%
     
65,605,328
 
Total net assets - 100.0%
   
$
3,036,479,455
 
 

* Non-income producing security
     
       
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
 
Cost of investments
 
$
2,057,502,264
 
Gross unrealized appreciation
   
921,006,194
 
Gross unrealized depreciation
   
(7,634,331
)
Net unrealized appreciation (depreciation)
 
$
913,371,863
 
 
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
 
Sector allocation
     
Sector
Percent of net assets
Information technology
 
26.5%
Consumer discretionary
 
18.1%
Industrials
 
16.5%
Health care
 
15.3%
Financials
 
7.7%
Materials
 
4.3%
Consumer staples
 
3.7%
Real estate
 
2.5%
Energy
 
2.4%
Telecommunication services
 
0.8%


 
Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON SCOUT MID CAP FUND
       
COMMON STOCKS - 98.2%
 
Shares
   
Value
 
Aerospace & defense - 5.1%
       
Aerojet Rocketdyne Holdings, Inc.*
   
467,075
   
$
12,844,562
 
BWX Technologies, Inc.
   
226,900
     
14,394,536
 
Harris Corp.
   
159,100
     
25,357,358
 
Hexcel Corp.
   
226,375
     
15,472,731
 
Huntington Ingalls Industries, Inc.
   
49,575
     
11,776,045
 
L3 Technologies, Inc.
   
18,525
     
3,935,822
 
Textron, Inc.
   
311,659
     
18,285,034
 
Airlines - 0.8%
         
Alaska Air Group, Inc.
   
138,175
     
9,082,243
 
Spirit Airlines, Inc.*
   
154,400
     
6,503,328
 
Auto components - 0.8%
         
Lear Corp.
   
56,150
     
10,844,811
 
Tenneco, Inc.
   
94,000
     
5,452,940
 
Automobiles - 1.2%
         
Thor Industries, Inc.
   
175,399
     
23,970,027
 
Banks - 6.8%
         
Citizens Financial Group, Inc.
   
818,017
     
37,546,980
 
Comerica, Inc.
   
285,000
     
27,137,700
 
KeyCorp
   
900,800
     
19,277,120
 
SunTrust Banks, Inc.
   
410,200
     
29,001,140
 
Umpqua Holdings Corp.
   
1,019,800
     
22,078,670
 
Beverages - 0.6%
         
Monster Beverage Corp.*
   
180,932
     
12,344,990
 
Biotechnology - 1.0%
         
BioMarin Pharmaceutical, Inc.*
   
55,400
     
4,998,742
 
Exelixis, Inc.*
   
311,900
     
9,453,689
 
Ionis Pharmaceuticals, Inc.*
   
114,325
     
6,004,349
 
Building products - 1.1%
         
Masco Corp.
   
207,300
     
9,258,018
 
Owens Corning
   
142,325
     
13,231,955
 
Capital markets - 3.2%
         
Affiliated Managers Group, Inc.
   
32,310
     
6,450,045
 
Ameriprise Financial, Inc.
   
59,600
     
10,054,520
 
Cboe Global Markets, Inc.
   
77,321
     
10,391,169
 
Evercore, Inc., Class A
   
90,050
     
9,054,528
 
MarketAxess Holdings, Inc.
   
39,825
     
7,814,063
 
S&P Global, Inc.
   
71,925
     
13,025,618
 
T Rowe Price Group, Inc.
   
69,721
     
7,782,955
 
Chemicals - 4.0%
         
Albemarle Corp.
   
132,625
     
14,799,624
 
Celanese Corp., Class A
   
112,275
     
12,143,664
 
CF Industries Holdings, Inc.
   
387,817
     
16,458,953
 
The Chemours Co.
   
332,375
     
17,157,198
 
Westlake Chemical Corp.
   
166,775
     
18,778,865
 
 

Communications equipment - 2.5%
         
Arista Networks, Inc.*
   
154,100
     
42,503,862
 
Palo Alto Networks, Inc.*
   
41,425
     
6,539,765
 
Construction & engineering - 0.7%
         
Dycom Industries, Inc.*
   
127,300
     
14,857,183
 
Construction materials - 1.1%
         
Martin Marietta Materials, Inc.
   
49,323
     
11,254,029
 
Vulcan Materials Co.
   
79,200
     
10,723,680
 
Diversified consumer services - 0.6%
         
H&R Block, Inc.
   
478,550
     
12,700,717
 
Diversified financial services - 2.0%
         
Voya Financial, Inc.
   
781,825
     
40,584,536
 
Electric utilities - 0.5%
         
PG&E Corp.
   
126,950
     
5,386,489
 
Xcel Energy, Inc.
   
106,225
     
4,848,109
 
Electrical equipment - 0.5%
         
Rockwell Automation, Inc.
   
46,400
     
9,154,256
 
Electronic equipment, instruments & components - 3.6%
         
Cognex Corp.
   
95,250
     
5,940,743
 
Coherent, Inc.*
   
46,225
     
11,996,312
 
IPG Photonics Corp.*
   
82,675
     
20,829,966
 
Keysight Technologies, Inc.*
   
509,750
     
23,815,520
 
Universal Display Corp.
   
58,725
     
9,360,765
 
Energy equipment & services - 1.7%
         
Oceaneering International, Inc.
   
214,341
     
4,432,572
 
Patterson-UTI Energy, Inc.
   
487,575
     
11,516,521
 
RPC, Inc.
   
492,275
     
9,943,955
 
TechnipFMC PLC
   
239,750
     
7,782,285
 
Equity real estate investment trusts (REITs) - 5.1%
         
Cousins Properties, Inc.
   
2,449,065
     
22,041,585
 
EPR Properties
   
262,549
     
15,506,144
 
Host Hotels & Resorts, Inc.
   
1,055,259
     
21,907,177
 
Lamar Advertising Co., Class A
   
258,073
     
18,581,256
 
Omega Healthcare Investors, Inc.
   
151,823
     
4,105,294
 
OUTFRONT Media, Inc.
   
917,656
     
20,555,494
 
Food & staples retailing - 1.4%
         
Casey's General Stores, Inc.
   
106,475
     
12,895,187
 
The Kroger Co.
   
529,400
     
16,072,584
 
Food products - 1.2%
         
Conagra Brands, Inc.
   
149,875
     
5,695,250
 
Hormel Foods Corp.
   
265,650
     
9,119,765
 
Tyson Foods, Inc., Class A
   
127,600
     
9,711,636
 
Gas utilities - 2.2%
         
Atmos Energy Corp.
   
374,924
     
31,081,200
 
ONE Gas, Inc.
   
169,281
     
11,990,173
 
 

Health care equipment & supplies - 5.5%
         
ABIOMED, Inc.*
   
293,025
     
68,860,875
 
Align Technology, Inc.*
   
32,375
     
8,482,250
 
Edwards Lifesciences Corp.*
   
100,375
     
12,705,468
 
NuVasive, Inc.*
   
98,275
     
4,802,699
 
Teleflex, Inc.
   
53,700
     
14,915,175
 
Health care providers & services - 1.1%
         
Humana, Inc.
   
31,945
     
9,003,059
 
Molina Healthcare, Inc.*
   
138,622
     
12,664,506
 
Health care technology - 0.3%
         
Veeva Systems, Inc., Class A*
   
111,175
     
6,988,461
 
Hotels, restaurants & leisure - 4.4%
         
Chipotle Mexican Grill, Inc.*
   
24,229
     
7,868,610
 
Cracker Barrel Old Country Store, Inc.
   
57,125
     
10,081,420
 
Darden Restaurants, Inc.
   
132,150
     
12,666,577
 
Hilton Grand Vacations, Inc.*
   
290,150
     
13,048,046
 
Royal Caribbean Cruises Ltd.
   
132,875
     
17,745,456
 
Six Flags Entertainment Corp.
   
157,675
     
10,652,523
 
Texas Roadhouse, Inc.
   
135,744
     
7,970,888
 
Vail Resorts, Inc.
   
37,225
     
8,135,896
 
Household durables - 1.7%
         
D.R. Horton, Inc.
   
123,675
     
6,066,259
 
Garmin Ltd.
   
185,025
     
11,645,474
 
Mohawk Industries, Inc.*
   
40,150
     
11,284,559
 
PulteGroup, Inc.
   
145,850
     
4,642,405
 
Household products - 0.5%
         
The Clorox Co.
   
64,200
     
9,096,498
 
Insurance - 1.8%
         
Arch Capital Group Ltd.*
   
92,625
     
8,423,318
 
Lincoln National Corp.
   
115,600
     
9,571,680
 
Unum Group
   
294,850
     
15,683,071
 
White Mountains Insurance Group Ltd.
   
2,550
     
2,141,745
 
Internet & direct marketing retail - 0.5%
         
Expedia, Inc.
   
79,125
     
10,128,791
 
Internet software & services - 1.3%
         
eBay, Inc.*
   
113,175
     
4,592,641
 
IAC/InterActiveCorp*
   
70,775
     
10,260,252
 
Match Group, Inc.*
   
317,100
     
11,079,474
 
IT services - 5.2%
         
DXC Technology Co.
   
658,250
     
65,528,787
 
Fiserv, Inc.*
   
60,000
     
8,450,400
 
Jack Henry & Associates, Inc.
   
93,200
     
11,618,312
 
Paychex, Inc.
   
82,800
     
5,651,100
 
Science Applications International Corp.
   
160,483
     
12,301,022
 
Leisure products - 0.9%
         
Brunswick Corp.
   
174,950
     
10,983,361
 
Polaris Industries, Inc.
   
78,600
     
8,882,586
 
Life sciences tools & services - 0.7%
         
Illumina, Inc.*
   
63,525
     
14,778,456
 
 

Machinery - 3.0%
         
AGCO Corp.
   
128,650
     
9,342,563
 
Allison Transmission Holdings, Inc.
   
214,150
     
9,473,996
 
Parker-Hannifin Corp.
   
79,350
     
15,982,677
 
The Timken Co.
   
212,150
     
11,148,482
 
Xylem, Inc.
   
184,775
     
13,351,842
 
Media - 0.5%
         
Live Nation Entertainment, Inc.*
   
225,350
     
10,154,271
 
Metals & mining - 1.9%
         
Newmont Mining Corp.
   
469,225
     
19,008,305
 
Steel Dynamics, Inc.
   
417,075
     
18,935,205
 
Multiline retail - 1.1%
         
Big Lots, Inc.
   
165,775
     
10,075,804
 
Dollar General Corp.
   
120,175
     
12,392,446
 
Multi-utilities - 0.4%
         
CMS Energy Corp.
   
166,975
     
7,472,131
 
Oil, gas & consumable fuels - 4.1%
         
Andeavor
   
119,850
     
12,962,976
 
Devon Energy Corp.
   
530,875
     
21,962,299
 
Marathon Petroleum Corp.
   
338,350
     
23,437,504
 
Newfield Exploration Co.*
   
562,092
     
17,795,833
 
RSP Permian, Inc.*
   
137,350
     
5,450,048
 
Pharmaceuticals - 0.2%
         
Supernus Pharmaceuticals, Inc.*
   
77,475
     
3,025,399
 
Professional services - 1.3%
         
ManpowerGroup, Inc.
   
123,550
     
16,233,235
 
Robert Half International, Inc.
   
163,075
     
9,438,781
 
Road & rail - 1.5%
         
AMERCO
   
19,050
     
6,954,774
 
Norfolk Southern Corp.
   
86,225
     
13,009,628
 
Old Dominion Freight Line, Inc.
   
67,900
     
9,943,955
 
Semiconductors & semiconductor equipment - 3.1%
         
Analog Devices, Inc.
   
87,100
     
8,002,748
 
KLA-Tencor Corp.
   
90,150
     
9,898,470
 
Lam Research Corp.
   
15,350
     
2,939,832
 
Micron Technology, Inc.*
   
223,450
     
9,769,234
 
ON Semiconductor Corp.*
   
452,825
     
11,202,891
 
Skyworks Solutions, Inc.
   
115,378
     
11,215,895
 
Xilinx, Inc.
   
112,600
     
8,222,052
 
Software - 3.0%
         
Aspen Technology, Inc.*
   
92,600
     
7,171,870
 
Ellie Mae, Inc.*
   
58,075
     
5,430,012
 
Proofpoint, Inc.*
   
85,725
     
8,745,664
 
Red Hat, Inc.*
   
73,025
     
9,594,025
 
ServiceNow, Inc.*
   
69,125
     
10,290,639
 
Take-Two Interactive Software, Inc.*
   
84,000
     
10,640,280
 
Workday, Inc., Class A*
   
66,925
     
8,023,638
 
 

Specialty retail - 2.6%
         
American Eagle Outfitters, Inc.
   
750,175
     
13,503,150
 
Best Buy Co., Inc.
   
123,250
     
9,004,645
 
O'Reilly Automotive, Inc.*
   
39,200
     
10,375,848
 
Ross Stores, Inc.
   
189,400
     
15,604,666
 
Ulta Beauty, Inc.*
   
20,575
     
4,569,707
 
Technology hardware, storage & peripherals - 0.4%
         
Western Digital Corp.
   
87,950
     
7,825,791
 
Textiles, apparel & luxury goods - 0.9%
         
PVH Corp.
   
52,025
     
8,068,037
 
Skechers U.S.A., Inc., Class A*
   
229,850
     
9,467,522
 
Thrifts & mortgage finance - 0.9%
         
LendingTree, Inc.*
   
49,550
     
18,226,968
 
Trading companies & distributors - 0.9%
         
United Rentals, Inc.*
   
79,825
     
14,457,106
 
W.W. Grainger, Inc.
   
14,428
     
3,890,654
 
Water utilities - 0.3%
         
American Water Works Co., Inc.
   
72,275
     
6,011,112
 
Wireless telecommunication services - 0.5%
         
Sprint Corp.*
   
1,760,325
     
9,382,532
 
Total common stocks (cost $1,520,063,797)
     
1,964,087,244
 
Total investment portfolio (cost $1,520,063,797) - 98.2%‡
     
1,964,087,244
 
Assets in excess of liabilities - 1.8%
     
35,961,817
 
Total net assets - 100.0%
   
$
2,000,049,061
 
 
* Non-income producing security
     
       
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
 
Cost of investments
 
$
1,520,063,797
 
Gross unrealized appreciation
   
463,937,785
 
Gross unrealized depreciation
   
(19,914,338
)
Net unrealized appreciation (depreciation)
 
$
444,023,447
 
         
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
 
         
Sector allocation
       
Sector
Percent of net assets
 
Information technology
   
19.0
%
Consumer discretionary
   
15.4
%
Industrials
   
14.9
%
Financials
   
14.7
%
Health care
   
8.8
%
Materials
   
7.0
%
Energy
   
5.8
%
Real estate
   
5.1
%
Consumer staples
   
3.7
%
Utilities
   
3.3
%
Telecommunication services
   
0.5
%


Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON EAGLE MID CAP STOCK FUND
       
COMMON STOCKS - 97.1%
 
Shares
   
Value
 
Auto components - 1.4%
       
Aptiv PLC
   
39,945
   
$
3,789,982
 
Banks - 5.2%
         
Chemical Financial Corp.
   
44,014
     
2,570,858
 
First Hawaiian, Inc.
   
110,795
     
3,201,975
 
First Republic Bank
   
38,435
     
3,441,854
 
Zions Bancorporation
   
87,821
     
4,744,969
 
Beverages - 2.3%
         
Constellation Brands, Inc., Class A
   
27,840
     
6,110,045
 
Capital markets - 2.4%
         
Lazard Ltd., Class A
   
59,981
     
3,513,087
 
NASDAQ, Inc.
   
36,347
     
2,940,836
 
Commercial services & supplies - 1.6%
         
Waste Connections, Inc.
   
59,227
     
4,253,683
 
Construction & engineering - 1.0%
         
Quanta Services, Inc.*
   
68,946
     
2,653,732
 
Consumer finance - 2.4%
         
Discover Financial Services
   
80,939
     
6,458,932
 
Containers & packaging - 1.6%
         
Berry Global Group, Inc.*
   
70,807
     
4,191,066
 
Distributors - 3.1%
         
LKQ Corp.*
   
143,938
     
6,049,714
 
Pool Corp.
   
16,572
     
2,241,197
 
Diversified consumer services - 1.7%
         
Bright Horizons Family Solutions, Inc.*
   
45,412
     
4,459,458
 
Electrical equipment - 3.0%
         
AMETEK, Inc.
   
106,479
     
8,124,348
 
Electronic equipment, instruments & components - 4.8%
         
Amphenol Corp., Class A
   
54,010
     
5,010,508
 
Cognex Corp.
   
49,201
     
3,068,666
 
FLIR Systems, Inc.
   
96,203
     
4,926,556
 
Energy equipment & services - 1.0%
         
Core Laboratories N.V.
   
24,651
     
2,817,609
 
Equity real estate investment trusts (REITs) - 2.3%
         
Boston Properties, Inc.
   
15,882
     
1,964,762
 
Duke Realty Corp.
   
71,192
     
1,880,181
 
Equinix, Inc.
   
5,297
     
2,411,141
 
Food products - 0.7%
         
Pinnacle Foods, Inc.
   
31,583
     
1,956,251
 
Health care equipment & supplies - 5.9%
         
DENTSPLY SIRONA, Inc.
   
71,649
     
4,356,976
 
STERIS PLC
   
49,738
     
4,522,179
 
Teleflex, Inc.
   
12,093
     
3,358,831
 
The Cooper Companies, Inc.
   
15,180
     
3,714,090
 
 

Health care providers & services - 4.7%
         
Centene Corp.*
   
34,393
     
3,688,305
 
Henry Schein, Inc.*
   
30,810
     
2,331,701
 
Laboratory Corp. of America Holdings*
   
38,395
     
6,699,928
 
Health care technology - 0.9%
         
Medidata Solutions, Inc.*
   
36,103
     
2,458,975
 
Hotels, restaurants & leisure - 1.4%
         
Wyndham Worldwide Corp.
   
30,378
     
3,770,821
 
Household durables - 2.2%
         
Mohawk Industries, Inc.*
   
21,007
     
5,904,227
 
Household products - 2.7%
         
Church & Dwight Co., Inc.
   
73,078
     
3,569,861
 
Spectrum Brands Holdings, Inc.
   
31,807
     
3,767,857
 
Industrial conglomerates - 2.2%
         
Roper Technologies, Inc.
   
21,093
     
5,918,485
 
Insurance - 6.1%
         
Arch Capital Group Ltd.*
   
59,208
     
5,384,376
 
Arthur J Gallagher & Co.
   
77,901
     
5,322,196
 
Reinsurance Group of America, Inc.
   
35,638
     
5,582,693
 
IT services - 3.8%
         
Amdocs Ltd.
   
37,343
     
2,554,261
 
Fiserv, Inc.*
   
38,752
     
5,457,832
 
Gartner, Inc.*
   
15,483
     
2,148,111
 
Life sciences tools & services - 1.9%
         
Agilent Technologies, Inc.
   
71,021
     
5,215,072
 
Machinery - 3.4%
         
Snap-on, Inc.
   
29,641
     
5,077,800
 
The Middleby Corp.*
   
29,917
     
4,076,490
 
Media - 0.9%
         
Omnicom Group, Inc.
   
31,530
     
2,416,774
 
Metals & mining - 1.5%
         
Reliance Steel & Aluminum Co.
   
47,127
     
4,127,854
 
Multiline retail - 1.2%
         
Dollar Tree, Inc.*
   
27,792
     
3,196,080
 
Oil, gas & consumable fuels - 4.5%
         
Cimarex Energy Co.
   
25,503
     
2,861,437
 
Concho Resources, Inc.*
   
34,682
     
5,460,334
 
Noble Energy, Inc.
   
121,660
     
3,713,063
 
Pharmaceuticals - 2.8%
         
Catalent, Inc.*
   
64,088
     
2,982,656
 
Zoetis, Inc.
   
57,944
     
4,446,043
 
Professional services - 1.1%
         
Verisk Analytics, Inc.*
   
29,468
     
2,948,273
 
Road & rail - 2.4%
         
Genesee & Wyoming, Inc., Class A*
   
37,267
     
2,975,770
 
J.B. Hunt Transport Services, Inc.
   
29,531
     
3,568,231
 
 

Semiconductors & semiconductor equipment - 3.9%
         
Analog Devices, Inc.
   
25,691
     
2,360,489
 
Microchip Technology, Inc.
   
63,220
     
6,019,809
 
Skyworks Solutions, Inc.
   
21,911
     
2,129,968
 
Software - 6.2%
         
ANSYS, Inc.*
   
15,445
     
2,496,685
 
Nice Ltd., Sponsored ADR
   
84,002
     
7,652,582
 
The Ultimate Software Group, Inc.*
   
28,598
     
6,660,188
 
Specialty retail - 0.7%
         
Ulta Beauty, Inc.*
   
7,986
     
1,773,691
 
Textiles, apparel & luxury goods - 1.2%
         
PVH Corp.
   
20,325
     
3,152,001
 
Trading companies & distributors - 1.0%
         
Fastenal Co.
   
47,041
     
2,585,373
 
Total common stocks (cost $165,230,639)
     
261,189,778
 
Total investment portfolio (cost $165,230,639) - 97.1%‡
     
261,189,778
 
Other assets in excess of liabilities - 2.9%
     
7,716,922
 
Total net assets - 100.0%
   
$
268,906,700
 
 
* Non-income producing security
     
ADR - American depository receipt
     
       
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
     
Cost of investments
 
$
165,230,639
 
Gross unrealized appreciation
   
96,586,185
 
Gross unrealized depreciation
   
(627,046
)
Net unrealized appreciation (depreciation)
 
$
95,959,139
 
         
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
 
 
Sector Allocation
 
 
Sector
Percent of net assets
Information technology
 
18.8%
Health care
 
16.3%
Financials
 
16.0%
Industrials
 
15.7%
Consumer discretionary
 
13.7%
Consumer staples
 
5.7%
Energy
 
5.5%
Materials
 
3.1%
Real estate
 
2.3%


Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON EAGLE SMALL CAP GROWTH FUND
       
COMMON STOCKS - 99.5%
 
Shares
   
Value
 
Aerospace & defense - 1.3%
       
Hexcel Corp.
   
1,056,896
   
$
72,238,842
 
Airlines - 1.1%
         
JetBlue Airways Corp.*
   
2,751,539
     
57,397,104
 
Auto components - 1.3%
         
Visteon Corp.*
   
516,321
     
67,163,036
 
Banks - 3.7%
         
Synovus Financial Corp.
   
1,706,098
     
85,970,278
 
Texas Capital Bancshares, Inc.*
   
607,984
     
57,636,883
 
UMB Financial Corp.
   
690,838
     
52,628,039
 
Biotechnology - 10.9%
         
Acceleron Pharma, Inc.*
   
942,844
     
39,137,455
 
Aimmune Therapeutics, Inc.*
   
1,024,906
     
36,086,940
 
Akebia Therapeutics, Inc.*
   
2,060,804
     
30,458,683
 
Alder Biopharmaceuticals, Inc.*
   
1,281,760
     
18,136,904
 
Amicus Therapeutics, Inc.*
   
1,859,320
     
30,158,170
 
Atara Biotherapeutics, Inc.*
   
1,286,445
     
48,627,621
 
Avexis, Inc.*
   
217,163
     
26,869,578
 
Biohaven Pharmaceutical Holding Co. Ltd.*
   
690,417
     
23,860,812
 
Bluebird Bio, Inc.*
   
152,795
     
31,307,696
 
Exact Sciences Corp.*
   
1,261,516
     
62,709,960
 
FibroGen, Inc.*
   
600,966
     
35,186,559
 
Ligand Pharmaceuticals, Inc.*
   
224,422
     
35,373,396
 
Progenics Pharmaceuticals, Inc.*
   
3,948,024
     
23,095,940
 
Puma Biotechnology, Inc.*
   
207,820
     
13,892,767
 
Sage Therapeutics, Inc.*
   
451,097
     
85,618,211
 
Sarepta Therapeutics, Inc.*
   
695,904
     
45,609,548
 
Building products - 2.7%
         
Builders FirstSource, Inc.*
   
3,393,907
     
72,697,488
 
Trex Co., Inc.*
   
636,909
     
71,072,675
 
Capital markets - 0.9%
         
Stifel Financial Corp.
   
689,129
     
46,529,990
 
Chemicals - 2.7%
         
Quaker Chemical Corp.
   
683,441
     
105,181,570
 
Sensient Technologies Corp.
   
521,716
     
37,485,294
 
Commercial services & supplies - 2.6%
         
Ritchie Bros Auctioneers, Inc.
   
1,099,455
     
35,754,277
 
The Brink's Co.
   
345,004
     
28,773,333
 
Waste Connections, Inc.
   
1,024,660
     
73,591,081
 
Communications equipment - 0.8%
         
Infinera Corp.*
   
2,768,997
     
17,915,411
 
Lumentum Holdings, Inc.*
   
594,857
     
27,541,879
 
Construction materials - 1.1%
         
Martin Marietta Materials, Inc.
   
252,036
     
57,507,054
 
 

Consumer finance - 1.1%
         
Green Dot Corp., Class A*
   
958,585
     
58,722,917
 
Distributors - 1.2%
         
Pool Corp.
   
479,684
     
64,872,464
 
Diversified consumer services - 0.8%
         
Bright Horizons Family Solutions, Inc.*
   
453,896
     
44,572,587
 
Electrical equipment - 1.5%
         
Acuity Brands, Inc.
   
268,780
     
41,510,383
 
Thermon Group Holdings, Inc.*
   
1,591,313
     
36,886,636
 
Electronic equipment, instruments & components - 7.1%
         
Cognex Corp.
   
1,571,418
     
98,009,341
 
Coherent, Inc.*
   
524,383
     
136,087,876
 
IPG Photonics Corp.*
   
398,116
     
100,305,326
 
Littelfuse, Inc.
   
226,749
     
49,281,628
 
Energy equipment & services - 0.1%
         
Geospace Technologies Corp.*
   
426,418
     
5,867,512
 
Equity real estate investment trusts (REITs) - 1.2%
         
Seritage Growth Properties, Class A
   
1,032,564
     
42,541,637
 
The GEO Group, Inc.
   
1,032,803
     
23,289,707
 
Food & staples retailing - 1.0%
         
Casey's General Stores, Inc.
   
448,406
     
54,306,451
 
Food products - 0.7%
         
Snyder's-Lance, Inc.
   
788,768
     
39,422,625
 
Health care equipment & supplies - 3.2%
         
Insulet Corp.*
   
219,917
     
16,830,248
 
Merit Medical Systems, Inc.*
   
874,711
     
40,630,326
 
NuVasive, Inc.*
   
739,039
     
36,116,836
 
Penumbra, Inc.*
   
361,292
     
35,984,683
 
West Pharmaceutical Services, Inc.
   
395,622
     
39,641,324
 
Health care providers & services - 2.0%
         
Encompass Health Corp.
   
768,748
     
40,682,144
 
HealthEquity, Inc.*
   
730,811
     
36,993,653
 
Tivity Health, Inc.*
   
770,179
     
29,844,436
 
Health care technology - 3.6%
         
Cotiviti Holdings, Inc.*
   
1,350,818
     
47,278,630
 
Evolent Health, Inc., Class A*
   
945,560
     
13,332,396
 
Medidata Solutions, Inc.*
   
511,726
     
34,853,658
 
Omnicell, Inc.*
   
706,275
     
34,642,789
 
Teladoc, Inc.*
   
1,663,489
     
62,214,489
 
Hotels, restaurants & leisure - 3.4%
         
Dave & Buster's Entertainment, Inc.*
   
615,426
     
28,925,022
 
Penn National Gaming, Inc.*
   
2,322,613
     
74,114,581
 
Planet Fitness, Inc., Class A*
   
2,344,082
     
79,136,208
 
Household durables - 1.3%
         
Universal Electronics, Inc.*
   
1,502,697
     
69,274,332
 
Insurance - 1.6%
         
Enstar Group Ltd.*
   
244,572
     
50,773,147
 
ProAssurance Corp.
   
676,203
     
36,988,304
 
 

Internet & direct marketing retail - 1.5%
         
Nutrisystem, Inc.
   
1,827,262
     
79,029,081
 
Internet software & services - 1.1%
         
Cornerstone OnDemand, Inc.*
   
1,481,811
     
60,946,886
 
IT services - 0.5%
         
Everi Holdings, Inc.*
   
3,418,168
     
26,456,620
 
Life sciences tools & services - 1.8%
         
Patheon N.V.*  (a)
   
421,338
     
14,746,830
 
PRA Health Sciences, Inc.*
   
884,003
     
80,497,313
 
Machinery - 5.4%
         
Chart Industries, Inc.*
   
1,139,196
     
56,469,946
 
Graco, Inc.
   
947,349
     
44,335,933
 
John Bean Technologies Corp.
   
634,254
     
72,146,392
 
WABCO Holdings, Inc.*
   
378,643
     
58,458,693
 
Woodward, Inc.
   
777,879
     
60,301,180
 
Multiline retail - 1.1%
         
Ollie's Bargain Outlet Holdings, Inc.*
   
1,095,415
     
60,850,303
 
Oil, gas & consumable fuels - 2.4%
         
Diamondback Energy, Inc.*
   
237,455
     
29,800,602
 
RSP Permian, Inc.*
   
2,452,232
     
97,304,566
 
Pharmaceuticals - 2.1%
         
Catalent, Inc.*
   
584,355
     
27,195,882
 
Nektar Therapeutics*
   
720,425
     
60,234,734
 
Zogenix, Inc.*
   
693,531
     
25,209,852
 
Professional services - 0.8%
         
WageWorks, Inc.*
   
719,264
     
43,551,435
 
Road & rail - 1.2%
         
Landstar System, Inc.
   
583,979
     
64,850,868
 
Semiconductors & semiconductor equipment - 2.9%
         
Cavium, Inc.*
   
180,880
     
16,058,526
 
Entegris, Inc.
   
1,683,299
     
54,791,383
 
Silicon Laboratories, Inc.*
   
278,536
     
26,795,163
 
Teradyne, Inc.
   
686,438
     
31,466,318
 
Veeco Instruments, Inc.*
   
1,632,083
     
27,174,182
 
Software - 13.5%
         
Ellie Mae, Inc.*
   
355,896
     
33,276,276
 
Guidewire Software, Inc.*
   
770,979
     
61,254,282
 
Imperva, Inc.*
   
927,014
     
40,556,862
 
Manhattan Associates, Inc.*
   
785,826
     
41,507,329
 
Pegasystems, Inc.
   
1,034,901
     
52,624,716
 
Proofpoint, Inc.*
   
632,558
     
64,533,567
 
PTC, Inc.*
   
1,511,888
     
109,884,020
 
RealPage, Inc.*
   
1,568,452
     
78,030,487
 
Tableau Software, Inc., Class A*
   
592,916
     
45,541,878
 
Take-Two Interactive Software, Inc.*
   
616,713
     
78,119,036
 
The Ultimate Software Group, Inc.*
   
370,970
     
86,395,203
 
Tyler Technologies, Inc.*
   
176,531
     
35,572,762
 
 

Specialty retail - 4.2%
         
Burlington Stores, Inc.*
   
538,410
     
65,529,881
 
Camping World Holdings, Inc., Class A
   
935,381
     
41,858,300
 
Floor & Decor Holdings, Inc., Class A*
   
488,529
     
22,912,010
 
Genesco, Inc.*
   
1,317,268
     
45,906,790
 
MarineMax, Inc.*
   
1,794,050
     
41,173,448
 
National Vision Holdings, Inc.*
   
231,944
     
9,073,649
 
Textiles, apparel & luxury goods - 1.1%
         
Steven Madden Ltd.*
   
1,234,520
     
57,034,824
 
Thrifts & mortgage finance - 1.0%
         
LendingTree, Inc.*
   
150,596
     
55,396,739
 
Total common stocks (cost $3,476,200,738)
     
5,342,003,517
 
                 
CONTINGENT VALUE RIGHTS - 0.0%
         
Dyax Corp.*  (a)
   
303,243
     
242,594
 
Total contingent value rights (cost $142,782)
     
242,594
 
Total investment portfolio (cost $3,476,343,520) - 99.5%‡
     
5,342,246,111
 
Other assets in excess of liabilities - 0.5%
     
25,778,372
 
Total net assets - 100.0%
   
$
5,368,024,483
 
 
(a) Security is fair valued as determined in good faith in accordance with the Pricing and Valuation Procedures approved by the Board of Trustees. The security is also illiquid and may not be sold by the Fund. As of January 31, 2018, the total market value of fair valued and illiquid securities held by the Fund is $14,989,424, representing 0.3% of the Fund's net assets.
 
* Non-income producing security
     
       
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
     
Cost of investments
 
$
3,476,343,520
 
Gross unrealized appreciation
   
2,014,528,376
 
Gross unrealized depreciation
   
(148,625,785
)
Net unrealized appreciation (depreciation)
 
$
1,865,902,591
 
         
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
 
 
Sector allocation
 
 
Sector
Percent of net assets
Information technology
 
26.1%
Health care
 
23.5%
Industrials
 
16.6%
Consumer discretionary
 
15.9%
Financials
 
8.3%
Materials
 
3.7%
Energy
 
2.5%
Consumer staples
 
1.7%
Real estate
 
1.2%


Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON SCOUT SMALL CAP FUND
       
COMMON STOCKS - 99.4%
 
Shares
   
Value
 
Aerospace & defense - 3.9%
       
Astronics Corp.*
   
91,900
   
$
4,098,740
 
Teledyne Technologies, Inc.*
   
38,300
     
7,312,236
 
Air freight & logistics - 0.5%
         
Radiant Logistics, Inc.*
   
275,700
     
1,326,117
 
Automobiles - 2.4%
         
Thor Industries, Inc.
   
51,431
     
7,028,560
 
Banks - 1.1%
         
Hilltop Holdings, Inc.
   
122,500
     
3,208,275
 
Biotechnology - 0.9%
         
Acorda Therapeutics, Inc.*
   
12,000
     
311,400
 
Genomic Health, Inc.*
   
69,300
     
2,301,453
 
Capital markets - 2.4%
         
Cohen & Steers, Inc.
   
106,726
     
4,351,219
 
Financial Engines, Inc.
   
93,400
     
2,657,230
 
Chemicals - 1.4%
         
Balchem Corp.
   
51,700
     
4,084,300
 
Commercial services & supplies - 2.1%
         
Healthcare Services Group, Inc.
   
68,100
     
3,757,758
 
InnerWorkings, Inc.*
   
229,958
     
2,301,880
 
Construction & engineering - 2.6%
         
Dycom Industries, Inc.*
   
65,700
     
7,667,847
 
Consumer finance - 1.0%
         
PRA Group, Inc.*
   
79,510
     
2,842,482
 
Electronic equipment, instruments & components - 5.6%
         
ePlus, Inc.*
   
77,900
     
6,013,880
 
Fabrinet*
   
66,500
     
1,649,865
 
II-VI, Inc.*
   
158,300
     
6,751,495
 
Plexus Corp.*
   
27,900
     
1,667,025
 
Energy equipment & services - 0.3%
         
Geospace Technologies Corp.*
   
64,060
     
881,466
 
Equity real estate investment trusts (REITs) - 1.3%
         
CareTrust REIT, Inc.
   
115,500
     
1,835,295
 
QTS Realty Trust, Inc., Class A
   
38,900
     
1,937,220
 
Food & staples retailing - 1.6%
         
Performance Food Group Co.*
   
137,000
     
4,705,950
 
Health care equipment & supplies - 4.9%
         
Cutera, Inc.*
   
56,890
     
2,821,744
 
ICU Medical, Inc.*
   
36,245
     
8,298,293
 
Varex Imaging Corp.*
   
71,900
     
3,053,593
 
Health care providers & services - 9.9%
         
Almost Family, Inc.*
   
58,800
     
3,354,540
 
 

AMN Healthcare Services, Inc.*
   
97,500
     
5,230,875
 
BioTelemetry, Inc.*
   
139,500
     
4,763,925
 
HealthEquity, Inc.*
   
81,300
     
4,115,406
 
Molina Healthcare, Inc.*
   
58,300
     
5,326,288
 
U.S. Physical Therapy, Inc.
   
76,150
     
5,783,592
 
Health care technology - 3.4%
         
HMS Holdings Corp.*
   
143,700
     
2,461,581
 
Omnicell, Inc.*
   
148,600
     
7,288,830
 
Hotels, restaurants & leisure - 3.9%
         
Cracker Barrel Old Country Store, Inc.
   
38,700
     
6,829,776
 
Lindblad Expeditions Holdings, Inc.*
   
162,500
     
1,506,375
 
The Cheesecake Factory, Inc.
   
61,500
     
3,025,185
 
Household durables - 4.5%
         
Installed Building Products, Inc.*
   
67,800
     
4,878,210
 
iRobot Corp.*
   
53,600
     
4,757,000
 
LGI Homes, Inc.*
   
50,900
     
3,444,912
 
Insurance - 1.8%
         
CNO Financial Group, Inc.
   
206,600
     
5,080,294
 
Internet software & services - 5.0%
         
Carbonite, Inc.*
   
168,100
     
4,236,120
 
Envestnet, Inc.*
   
85,100
     
4,574,125
 
j2 Global, Inc.
   
72,500
     
5,799,275
 
IT services - 3.5%
         
Acxiom Corp.*
   
45,200
     
1,223,564
 
Jack Henry & Associates, Inc.
   
49,900
     
6,220,534
 
Virtusa Corp.*
   
61,000
     
2,721,820
 
Life sciences tools & services - 5.8%
         
Bruker Corp.
   
166,400
     
5,925,504
 
Cambrex Corp.*
   
79,500
     
4,479,825
 
PRA Health Sciences, Inc.*
   
68,700
     
6,255,822
 
Machinery - 4.2%
         
Albany International Corp., Class A
   
58,200
     
3,692,790
 
Chart Industries, Inc.*
   
46,500
     
2,305,005
 
Proto Labs, Inc.*
   
56,500
     
6,178,275
 
Metals & mining - 0.6%
         
Carpenter Technology Corp.
   
33,200
     
1,706,480
 
Oil, gas & consumable fuels - 0.3%
         
Gulfport Energy Corp.*
   
97,200
     
988,524
 
Pharmaceuticals - 2.7%
         
Impax Laboratories, Inc.*
   
94,200
     
1,832,190
 
Supernus Pharmaceuticals, Inc.*
   
155,300
     
6,064,465
 
Professional services - 2.8%
         
Insperity, Inc.
   
71,400
     
4,373,250
 
WageWorks, Inc.*
   
64,000
     
3,875,200
 
Semiconductors & semiconductor equipment - 7.2%
         
Ambarella, Inc.*
   
64,700
     
3,260,880
 
Entegris, Inc.
   
104,600
     
3,404,730
 
 

Impinj, Inc.*
   
76,200
     
1,704,594
 
Inphi Corp.*
   
59,400
     
1,774,278
 
Power Integrations, Inc.
   
48,100
     
3,593,070
 
Semtech Corp.*
   
142,300
     
5,094,340
 
Veeco Instruments, Inc.*
   
124,500
     
2,072,925
 
Software - 2.8%
         
Pegasystems, Inc.
   
93,900
     
4,774,815
 
The Descartes Systems Group, Inc.*
   
115,200
     
3,265,920
 
Specialty retail - 2.9%
         
Camping World Holdings, Inc., Class A
   
68,900
     
3,083,275
 
Monro, Inc.
   
94,700
     
5,350,550
 
Technology hardware, storage & peripherals - 0.9%
         
Electronics For Imaging, Inc.*
   
84,000
     
2,456,160
 
Textiles, apparel & luxury goods - 0.9%
         
G-III Apparel Group Ltd.*
   
69,500
     
2,595,825
 
Thrifts & mortgage finance - 4.3%
         
BofI Holding, Inc.*
   
114,800
     
4,129,356
 
LendingTree, Inc.*
   
22,300
     
8,203,055
 
Total common stocks (cost $180,505,493)
     
287,928,653
 
Total investment portfolio (cost $180,505,493) - 99.4%‡
     
287,928,653
 
Other assets in excess of liabilities - 0.6%
     
1,672,183
 
Total net assets - 100.0%
   
$
289,600,836
 
 
 * Non-income producing security
     
       
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
 
Cost of investments
 
$
180,505,493
 
Gross unrealized appreciation
   
118,024,715
 
Gross unrealized depreciation
   
(10,601,555
)
Net unrealized appreciation (depreciation)
 
$
107,423,160
 
         
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
 
 
Sector Allocation
     
Sector
Percent of net assets
Health care
 
27.5%
Information technology
 
25.0%
Industrials
 
16.2%
Consumer discretionary
 
14.7%
Financials
 
10.5%
Materials
 
2.0%
Consumer staples
 
1.6%
Real estate
 
1.3%
Energy
 
0.6%


Investment Portfolios
       
(UNAUDITED) | 01.31.2018
       
CARILLON EAGLE SMALLER COMPANY FUND
       
COMMON STOCKS - 95.3%
 
Shares
   
Value
 
Aerospace & defense - 2.0%
       
HEICO Corp.
   
11,771
   
$
945,447
 
Banks - 9.2%
         
Camden National Corp.
   
8,910
     
378,319
 
Central Pacific Financial Corp.
   
16,078
     
475,427
 
Chemical Financial Corp.
   
8,220
     
480,130
 
Columbia Banking System, Inc.
   
15,130
     
651,801
 
PacWest Bancorp
   
13,073
     
685,417
 
South State Corp.
   
10,027
     
888,392
 
Texas Capital Bancshares, Inc.*
   
7,193
     
681,896
 
Building products - 1.2%
         
A.O. Smith Corp.
   
8,183
     
546,461
 
Capital markets - 1.4%
         
Evercore, Inc., Class A
   
6,381
     
641,609
 
Chemicals - 3.3%
         
Balchem Corp.
   
6,880
     
543,520
 
Ingevity Corp.*
   
7,134
     
517,572
 
NewMarket Corp.
   
1,144
     
454,843
 
Commercial services & supplies - 1.0%
         
Healthcare Services Group, Inc.
   
8,562
     
472,451
 
Construction & engineering - 1.2%
         
Quanta Services, Inc.*
   
13,873
     
533,972
 
Consumer finance - 0.8%
         
PRA Group, Inc.*
   
9,822
     
351,136
 
Containers & packaging - 3.9%
         
AptarGroup, Inc.
   
5,474
     
478,537
 
Berry Global Group, Inc.*
   
12,615
     
746,682
 
Graphic Packaging Holding Co.
   
36,875
     
595,531
 
Distributors - 3.3%
         
LKQ Corp.*
   
18,952
     
796,552
 
Pool Corp.
   
5,453
     
737,464
 
Diversified consumer services - 1.4%
         
Bright Horizons Family Solutions, Inc.*
   
6,513
     
639,577
 
Electronic equipment, instruments & components - 5.5%
         
Cognex Corp.
   
9,488
     
591,767
 
Dolby Laboratories, Inc., Class A
   
9,157
     
589,161
 
FLIR Systems, Inc.
   
16,390
     
839,332
 
Littelfuse, Inc.
   
2,409
     
523,572
 
Energy equipment & services - 1.3%
         
Core Laboratories N.V.
   
5,419
     
619,392
 
Equity real estate investment trusts (REITs) - 3.0%
         
CoreSite Realty Corp.
   
6,130
     
664,001
 
Hudson Pacific Properties, Inc.
   
12,434
     
397,515
 
Terreno Realty Corp.
   
8,431
     
300,144
 
 

Food products - 1.4%
         
Pinnacle Foods, Inc.
   
10,570
     
654,706
 
Health care equipment & supplies - 7.1%
         
ICU Medical, Inc.*
   
1,972
     
451,489
 
Integra LifeSciences Holdings Corp.*
   
9,713
     
511,487
 
NuVasive, Inc.*
   
7,269
     
355,236
 
STERIS PLC
   
9,824
     
893,198
 
Teleflex, Inc.
   
1,955
     
543,001
 
West Pharmaceutical Services, Inc.
   
5,276
     
528,655
 
Health care providers & services - 2.1%
         
Laboratory Corp. of America Holdings*
   
5,501
     
959,924
 
Health care technology - 1.0%
         
Medidata Solutions, Inc.*
   
6,671
     
454,362
 
Hotels, restaurants & leisure - 1.2%
         
Texas Roadhouse, Inc.
   
9,661
     
567,294
 
Household durables - 1.1%
         
Helen of Troy Ltd.*
   
5,232
     
487,361
 
Household products - 1.4%
         
Spectrum Brands Holdings, Inc.
   
5,305
     
628,430
 
Insurance - 5.4%
         
AMERISAFE, Inc.
   
7,032
     
427,194
 
Arthur J Gallagher & Co.
   
10,520
     
718,726
 
James River Group Holdings Ltd.
   
11,920
     
452,960
 
Reinsurance Group of America, Inc.
   
5,667
     
887,736
 
IT services - 1.7%
         
Gartner, Inc.*
   
2,842
     
394,299
 
Jack Henry & Associates, Inc.
   
3,205
     
399,535
 
Life sciences tools & services - 2.3%
         
Bio-Rad Laboratories, Inc., Class A*
   
2,304
     
595,653
 
Bio-Techne Corp.
   
3,330
     
467,166
 
Machinery - 7.4%
         
Graco, Inc.
   
12,317
     
576,436
 
IDEX Corp.
   
3,795
     
544,507
 
Lincoln Electric Holdings, Inc.
   
5,542
     
540,733
 
Snap-on, Inc.
   
4,578
     
784,257
 
The Middleby Corp.*
   
4,012
     
546,675
 
The Toro Co.
   
6,473
     
424,952
 
Media - 1.3%
         
John Wiley & Sons, Inc., Class A
   
9,447
     
598,940
 
Metals & mining - 1.1%
         
Reliance Steel & Aluminum Co.
   
5,727
     
501,628
 
Multiline retail - 1.1%
         
Ollie's Bargain Outlet Holdings, Inc.*
   
8,787
     
488,118
 
Oil, gas & consumable fuels - 3.2%
         
Cimarex Energy Co.
   
5,744
     
644,477
 
Diamondback Energy, Inc.*
   
6,822
     
856,161
 
Pharmaceuticals - 2.9%
         
Catalent, Inc.*
   
21,158
     
984,693
 
Prestige Brands Holdings, Inc.*
   
8,312
     
347,691
 
 

Road & rail - 2.0%
         
Genesee & Wyoming, Inc., Class A*
   
6,230
     
497,465
 
Landstar System, Inc.
   
3,896
     
432,651
 
Semiconductors & semiconductor equipment - 3.3%
         
Monolithic Power Systems, Inc.
   
4,566
     
543,902
 
Power Integrations, Inc.
   
6,753
     
504,449
 
Semtech Corp.*
   
13,224
     
473,419
 
Software - 6.8%
         
Ellie Mae, Inc.*
   
4,480
     
418,880
 
Nice Ltd., Sponsored ADR
   
14,543
     
1,324,867
 
Qualys, Inc.*
   
9,309
     
581,813
 
The Ultimate Software Group, Inc.*
   
3,483
     
811,156
 
Specialty retail - 1.5%
         
Burlington Stores, Inc.*
   
5,642
     
686,688
 
Trading companies & distributors - 1.5%
         
Watsco, Inc.
   
3,870
     
695,787
 
Total common stocks (cost $28,691,746)
     
43,956,377
 
Total investment portfolio (cost $28,691,746) - 95.3%‡
     
43,956,377
 
Other assets in excess of liabilities - 4.7%
     
2,160,825
 
Total net assets - 100.0%
   
$
46,117,202
 
 
* Non-income producing security
     
ADR - American depository receipt
     
       
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
 
Cost of investments
 
$
28,691,746
 
Gross unrealized appreciation
   
15,272,466
 
Gross unrealized depreciation
   
(7,835
)
Net unrealized appreciation (depreciation)
 
$
15,264,631
 
         
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
 
 
Sector allocation
 
 
Sector
Percent of net assets
Information technology
 
17.3%
Financials
 
16.7%
Industrials
 
16.4%
Health care
 
15.4%
Consumer discretionary
 
10.8%
Materials
 
8.3%
Energy
 
4.6%
Real estate
 
3.0%
Consumer staples
 
2.8%


Investment Portfolios
           
(UNAUDITED) | 01.31.2018
           
CARILLON COUGAR TACTICAL ALLOCATION FUND
           
EXCHANGE TRADED FUNDS - 98.0%
   Shares      Value  
Domestic - 88.0%
           
Equity - 68.3%
           
iShares Core S&P 500 ETF
   
16,651
   
$
4,731,382
 
iShares Core S&P Mid-Cap ETF
   
3,531
     
688,686
 
iShares Core S&P Small-Cap ETF
   
19,652
     
1,547,398
 
SPDR S&P500 ETF Trust
   
14,283
     
4,026,378
 
SPDR S&P MidCap 400 ETF Trust
   
2,426
     
861,230
 
                 
Fixed Income - 19.7%
               
iShares Core U.S. Aggregate Bond ETF
   
31,626
     
3,418,770
 
Total domestic exchange traded funds (cost $13,386,964)
           
15,273,844
 
                 
Foreign - 10.0%
               
Equity - 10.0%
               
iShares Core MSCI Emerging Markets ETF
   
14,461
     
888,484
 
iShares MSCI Japan ETF
   
13,552
     
852,963
 
Total foreign exchange traded funds (cost $1,676,978)
           
1,741,447
 
                 
Total exchange traded funds (cost $15,063,942)
           
17,015,291
 
                 
Total investment portfolio (cost $15,063,942) - 98.0%‡
           
17,015,291
 
Other assets in excess of liabilities - 2.0%
           
355,657
 
Total net assets - 100.0%
         
$
17,370,948
 
 
ETF - Exchange Traded Fund
     
       
‡The cost basis of investments for federal income tax purposes at January 31, 2018 was as follows+:
 
Cost of investments
 
$
15,063,942
 
Gross unrealized appreciation
   
1,958,511
 
Gross unrealized depreciation
   
(7,162
)
Net unrealized appreciation (depreciation)
 
$
1,951,349
 
         
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments for the current fiscal year. For the previous year's federal income tax information, please refer to the October 31, 2017 Annual Report.
 
 
Asset allocation
   
Asset class
 
Percent of net assets
Equity
 
78.3%
Fixed income
 
19.7%
 

Notes to Investment Portfolios
(UNAUDITED) | 01.31.2018
 
 
Valuation of securities | The price of each Fund’s shares is based on the NAV per share of each class of a Fund. Each Fund normally determines the NAV of its shares each business day as of the scheduled close of regular trading on the New York Stock Exchange (NYSE) and the Nasdaq (typically 4:00 p.m. ET). A Fund will not treat an intraday unscheduled disruption in trading on either the NYSE or Nasdaq as a closure of that particular market, and will price its shares as of the normally scheduled close of the NYSE and Nasdaq if the disruption directly affects only one of those markets. If the NYSE or other securities exchange modifies the published closing price of securities traded on that exchange after the NAV is calculated, the Funds are not required to recalculate their NAV.

Generally, the Funds value portfolio securities for which market quotations are readily available at market value; however, a Fund may adjust the market quotation price to reflect events that occur between the close of those markets and the time of the Funds’ determination of the NAV.

A market quotation may be considered unreliable or unavailable for various reasons, such as:

·
The quotation may be stale;

·
The security is not actively traded;

·
Trading on the security halted before the close of the trading market;

·
The security is newly issued;

·
Issuer-specific or vendor specific events occurred after the security halted trading; or

·
Due to the passage of time between the close of the market on which the security trades and the close of the NYSE and the Nasdaq.

Issuer-specific events may cause the last market quotation to be unreliable. Such events may include:
 
·
A merger or insolvency;

·
Events which affect a geographical area or an industry segment, such as political events or natural disasters; or

·
Market events, such as a significant movement in the U.S. markets.

For most securities, both the latest transaction prices and adjustments are furnished by independent pricing services, subject to supervision by the Board of Trustees of the Fund (“Board”). The Funds value all other securities and assets for which market quotations are unavailable or unreliable at their fair value in good faith using Pricing and Valuation Procedures (“Procedures”) approved by the Board. A Fund may fair value small-cap securities, for example, that are thinly traded or illiquid. Fair value is the amount that the owner might reasonably expect to receive for the security upon its current sale. Fair value requires consideration of all appropriate factors, including indications of fair value available from independent pricing services. A fair value price is an estimated price and may vary from the prices used by other mutual funds to calculate their NAV.
 
Pursuant to the Procedures, the Board has delegated the day-to-day responsibility for applying and administering the Procedures to a valuation committee (“Valuation Committee”) comprised of certain officers of the Carillon Series Trust (“Trust”) and other employees of Carillon Tower Advisers, Inc. (“Carillon Tower”), the Funds’ investment adviser. The composition of this Valuation Committee may change from time to time. The Valuation Committee follows fair valuation guidelines as set forth in the Procedures to make fair value determinations on all securities and assets for which market quotations are unavailable or unreliable. For portfolio securities fair valued by the Valuation Committee, Carillon Tower checks fair value prices by comparing the fair value of the security with values that are available from other sources (if any). Carillon Tower compares the fair value of the security to the next-day opening price or next actual sale price, when applicable. Carillon Tower documents and reports to the Valuation Committee such comparisons when they are made. The Valuation Committee reports such comparisons to the Board at their regularly scheduled meetings. The Board retains the responsibility for periodic review and consideration of the appropriateness of any fair value pricing methodology established or implemented for a Fund. Fair value pricing methods, the Procedures and independent pricing services can change from time to time as approved by the Board, and may occur as a result of look-back testing results or changes in industry best practices.

There can be no assurance, however, that a fair value price used by a Fund on any given day will more accurately reflect the market value of a security than the market price of such security on that day, as fair valuation determinations may involve subjective judgments made by the Valuation Committee. Fair value pricing may deter shareholders from trading a Fund’s shares on a frequent basis in an attempt to take advantage of arbitrage opportunities resulting from potentially stale prices of portfolio holdings. However, it cannot eliminate the possibility of frequent trading. Specific types of securities are valued as follows:

·
Domestic exchange-traded equity securities | Market quotations are generally available and reliable for domestic exchange-traded equity securities. If the prices provided by the independent pricing service and independent quoted prices are unavailable or unreliable, the Valuation Committee will fair value the security using the Procedures.

·
Foreign exchange-traded equity securities | If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE and the Nasdaq, closing market quotations may become unreliable. Consequently, fair valuation of portfolio securities may occur on a daily basis. The Valuation Committee, using the Procedures, may fair value a security if certain events occur between the time trading ends in a foreign market on a particular security and a Fund’s NAV calculation. The Valuation Committee, using the Procedures, may also fair value a particular security if the events are significant and make the closing price unavailable or unreliable. If an issuer-specific event has occurred that Carillon Tower determines, in its judgment, is likely to have affected the closing price of a foreign security, the security will be priced at fair value. Carillon Tower also utilizes a screening process from a pricing vendor to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current market value as of the close of the NYSE. Securities and other assets quoted in foreign currencies are valued in U.S. dollars based on exchange rates provided by an independent pricing service. The pricing vendor, pricing methodology or degree of certainty may change from time to time. Securities primarily traded on foreign markets may trade on days that are not business days of the Funds. Because the NAV of a Fund’s shares is determined only on business days of the Fund, the value of the securities of a Fund that invests in foreign securities may change on days when shareholders would not be able to purchase or redeem shares of the Fund.
 

Notes to Investment Portfolios
(UNAUDITED) | 01.31.2018
 
·
Fixed income securities | Government bonds, corporate bonds, asset-backed bonds, municipal bonds, short-term securities (investments that have a maturity date of 60 days or less) and convertible securities, including high yield or junk bonds, normally are valued on the basis of evaluated prices provided by independent pricing services. Evaluated prices provided by the independent pricing services may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to special securities, dividend rate, maturity and other market data. If the evaluated prices provided by the independent pricing service and independent quoted prices are unavailable or unreliable, the Valuation Committee will fair value the security using the Procedures.
 
·
Futures and Options | Futures and options are valued on the basis of market quotations, if available and reliable. If prices provided by independent pricing services and independent quoted prices are unavailable or unreliable, the Valuation Committee will fair value the security using the Procedures. During the period from November 1, 2017 to January 31, 2018, only the Core Plus Bond Fund and Unconstrained Bond Fund held futures. During the period from November 1, 2017 to January 31, 2018, none of the Funds held options.

·
Investment companies and exchange-traded funds (ETFs) | Investments in other open-end investment companies are valued at their reported NAV. The prospectuses for these companies explain the circumstances under which these companies will use fair value pricing and the effect of the fair value pricing.  In addition, investments in closed-end funds and ETFs are valued on the basis of market quotations, if available and reliable. If the prices provided by independent pricing services and independent quoted prices are unavailable or unreliable, the Valuation Committee will fair value the security using the Procedures.
 
Fair value measurements | Each Fund utilizes a three-level hierarchy of inputs to establish a classification of fair value measurements. The three levels are defined as:
 
Level 1—Valuations based on unadjusted quoted prices for identical securities in active markets;
 
Level 2—Valuations based on inputs other than quoted prices that are observable, either directly or indirectly, including inputs in markets that are not considered active; and

Level 3—Valuations based on inputs that are unobservable and significant to the fair value measurement, and may include the Valuation Committee’s own assumptions on determining fair value of investments.

Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments and is affected by various factors such as the type of investment and the volume and/or level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Valuation Committee, along with any other relevant factors, in the calculation of an investment’s fair value. Each Fund uses prices and inputs that are current as of the valuation date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.
 
Investments falling into the Level 3 category may be classified as such due to a lack of market transparency and corroboration to support the quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Valuation Committee. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable entity data.
 
The following is a summary of the inputs used to value each Fund’s investments as of January 31, 2018.
 
Quoted prices
in active
markets for
identical
assets
(Level 1)
Significant
other
observable
inputs
    (Level 2)
Significant
unobservable
inputs
    (Level 3)
Capital Appreciation Fund
   
Common stocks (a)
  $468,073,290
$—
$—
Total investment portfolio
$468,073,290
$—
$—
Growth & Income Fund
   
Common stocks (a)
  $631,972,915
$—
$—
Total investment portfolio
 $631,972,915
$—
$—
International Stock Fund
   
Common stocks (a):
     
Australia
$—
$603,846
$—
Belgium
  246,228
Denmark
  326,232
France
  1,838,615
Germany
  1,736,612
Hong Kong
  426,939
Israel
  323,788
Italy
  485,640
Japan
  6,052,672
Netherlands
  324,776
  745,614
Norway
  102,672
Singapore
  496,575
Spain
  333,140
Sweden
  584,865
Switzerland
  2,732,531
United Kingdom
  3,105,147
 

Notes to Investment Portfolios
(UNAUDITED) | 01.31.2018
 
 
Quoted prices
in active
markets for
identical
assets
(Level 1)
Significant
other
observable
inputs
    (Level 2)
Significant
unobservable
inputs
    (Level 3
Preferred stocks:
     
Germany
  250,252
Total investment portfolio
  $324,776
$20,391,368
$—
       
       
       
International Fund
   
Common stocks (a):
     
Australia
$16,692,192
$70,857,315
$—
Canada
  11,625,300
Denmark
  17,875,218
  14,580,639
France
  98,074,103
Germany
  33,543,441
  91,118,810
Hong Kong
  13,420,762
Ireland
  19,698,759
  15,375,466
Japan
  164,894,908
Mexico
  35,156,287
Norway
  16,923,640
Singapore
  15,964,552
South Africa
  12,259,140
Spain
  17,610,325
Sweden
  19,866,436
  31,748,001
Switzerland
  26,372,729
  84,368,840
Taiwan
  28,260,006
United Kingdom
  54,939,382
  83,272,326
United States
  56,393,324
Preferred stocks:
     
Colombia
  21,865,123
Germany
  15,402,410
  24,320,444
Total investment portfolio
$329,430,601
$783,049,277
$—
Investment Grade Bond Fund
   
Domestic corporate bonds (a)
$—
  $13,567,522
$—
Foreign corporate bonds (a)
  2,742,672
Mortgage and asset-backed securities
  10,122,441
Foreign government bonds
  146,809
U.S. Treasuries
  744,023
U.S. Government agency securities
  245,785
Supranational banks
  995,773
Total investment portfolio
$—
$28,565,025
$—
Low Duration Bond Fund
   
Corporate bonds (a)
$—
  $14,517,216
$—
Mortgage and asset-backed securities
  4,930,879
U.S. Treasuries
  2,985,762
Total investment portfolio
$—
  22,433,857
$—
Credit default swaps
$—
$22,318
$—
Core Bond Fund
   
Corporate bonds (a)
$—
 $28,865,248
$—
Mortgage and asset-backed securities
  45,324,467
U.S. Treasuries
  58,441,499
Total investment portfolio
$—
$132,631,214
$—
Core Plus Bond Fund
   
Corporate bonds (a)
$—
 $168,168,496
$—
Mortgage and asset-backed securities
  235,276,576
U.S. Treasuries
  430,022,538
Total investment portfolio
$—
 $833,467,610
$—
Futures Contracts - Short (b)
$2,801,371
$—
$—
Unconstrained Bond Fund
   
Corporate bonds (a)
$—
 $392,100,161
$—
Mortgage and asset-backed securities
  110,980,227
U.S. Treasuries
1,015,176,208
Total investment portfolio
$—
$1,518,256,596
$—
Futures Contracts - Short (b)
$8,273,555
$—
$—
Mid Cap Growth Fund
   
Common stocks (a)
  $2,970,874,127
$—
$—
Total investment portfolio
  $2,970,874,127
$—
$—
       
Mid Cap Fund
   
Common stocks (a)
  $1,964,087,244
$—
$—
Total investment portfolio
  $1,964,087,244
$—
$—
Mid Cap Stock Fund
   
Common stocks (a)
  $261,189,778
$—
$—
Total investment portfolio
  $261,189,778
$—
$—
Small Cap Growth Fund
   
Common stocks (a)
$5,327,256,687
$—
  $14,746,830
Contingent value rights
  242,594
Total investment portfolio
$5,327,256,687
$—
  $14,989,424
Small Cap Fund
   
Common stocks (a)
  $287,928,653
$—
$—
Total investment portfolio
  $287,928,653
$—
$—
Smaller Company Fund
   
Common stocks (a)
  $43,956,377
$—
$—
Total investment portfolio
  $43,956,377
$—
$—
Tactical Allocation Fund
   
Domestic exchange traded funds
  $15,273,844
$—
$—
Foreign exchange traded funds
  1,741,447
Total investment portfolio
  $17,015,291
$—
$—
 
(a)
Please see the investment portfolio for detail by industry.
(b)
Amounts presented for Credit Default Swaps and Futures Contracts represent total unrealized appreciation (depreciation) as of January 31, 2018.
 
Each Fund recognizes transfers between levels at the end of the reporting period. During the period from November 1, 2017 to January 31, 2018, there were no transfers in or out of Levels 1, 2, or 3.
 
The following is a reconciliation of Level 3 securities held by the Small Cap Growth Fund as of January 31, 2018 for which significant unobservable inputs were used to determine fair value:
 
Small Cap Growth Fund
Common
Stocks
Contingent
value rights
Balance as of October 31, 2017
 
$14,746,830
$ 242,594
Purchases
 
Change in unrealized appreciation (depreciation)
 
Balance as of January 31, 2018
 
$14,746,830
 $ 242,594
 
The Funds’ policy for disclosing the valuation techniques and significant unobservable inputs for Level 3 assets and liabilities is to provide such disclosures when aggregate exposure to Level 3 investments exceeds 1% of net asset value. At January 31, 2018, the Level 3 investments within the Fund did not exceed such threshold and therefore have not been disclosed.
 

Notes to Investment Portfolios
(UNAUDITED) | 01.31.2018
 
Common Stocks | On August 29, 2017, Thermo Fisher Scientific, Inc. acquired 95.3% of the outstanding Patheon N.V. ordinary shares, and Patheon N.V. is no longer exchange traded and has been delisted. As of January 31, 2018, Patheon N.V. was valued at the acquisition price without adjustment.
 
Contingent value rights | The contingent value rights (“CVR”) were acquired as a result of Dyax Corp. (which was a portfolio holding of the Fund) being acquired by Shire PLC. In exchange for the Fund’s shares in Dyax Corp., the Fund received cash considerations from Shire PLC as well as the CVR.
 
Derivatives | The following disclosure provides certain information about the Funds’ derivative and hedging activities.
 
·
Forward currency contracts | Each of the Funds’ policies, except Small Cap Growth, Mid Cap, and Small Cap, permit the Funds to enter into forward currency contracts (“forward contracts”) for hedging (such as to hedge the impact of adverse changes in the relationships between the US dollar and various foreign currencies), including transaction hedging, anticipatory hedging, cross hedging, proxy hedging, and position hedging, or for any other lawful purpose consistent with their investment objectives. Forward contracts are agreements between two parties to exchange different currencies at a specified rate at an agreed upon future date. The fair value of a forward contract fluctuates with changes in currency exchange rates. Outstanding forward contracts are valued daily at current forward rates and the resulting change in market value is recorded as unrealized appreciation or depreciation. When a forward contract is closed, the Fund records a realized gain or loss equal to the difference between the value at the time the forward contract was opened and the value at the time it was closed.
 
·
Credit default swap contracts | The International Stock, Low Duration Bond, Core Bond, Core Plus Bond and Unconstrained Bond Funds’ policies permit the Funds to enter into credit default swap agreements to enhance the Funds’ returns, increase liquidity, manage the duration of the Funds’ portfolios and/or gain exposure to certain instruments or markets (i.e., the corporate bond market) in a relatively efficient way. The credit default swap agreement may have as a reference obligation one or more securities that are or are not currently held by a Fund. The Funds may enter into credit default swap agreements either as a buyer or seller. The buyer in a credit default swap agreement is obligated to pay the seller a periodic fee, typically expressed in basis points on the principal amount of the underlying obligation (the “notional” amount), over the term of the agreement in return for a contingent payment upon the occurrence of a credit event with respect to the underlying reference obligation. A credit event is typically a default. If a Fund is a buyer and no credit event occurs, the Fund may lose its investment and recover nothing. If a Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. As a seller, a Fund accrues for and receives a fixed rate of income throughout the term of the agreement, which typically is between one month and five years, provided that no credit event occurs. As the seller, a Fund would effectively add leverage to its portfolio because, in addition to its total net assets, a Fund would be subject to investment exposure on the notional amount of the swap. If a Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. If a credit event occurs, the maximum payout amount for a sale contract is limited to the notional amount of the swap contract (“Maximum Payout Amount”). Recovery values are estimated by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value. Credit default swap agreements on credit indices involve one party making a stream of payments to another party in exchange for the right to receive a specified return in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising the credit index. A credit index is a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. These indices are made up of reference credits that are judged by a poll of dealers to be the most liquid entities in the credit default swap market based on the sector of the index. Components of the indices may include, but are not limited to, investment grade securities, high yield securities, asset-backed securities, emerging markets, and/or various credit ratings within each sector. Credit indices are traded using credit default swaps with standardized terms including a fixed spread and standard maturity dates. An index credit default swap references all the names in the index, and if there is a default, the credit event is settled based on that name’s weight in the index. The composition of the indices changes periodically, usually every six months, and for most indices, each name has an equal weight in the index. A Fund may use credit default swaps on credit indices to hedge a portfolio of credit default swaps or bonds, which is less expensive than it would be to buy many credit default swaps to achieve a similar effect. Credit default swaps on indices are benchmarks for protecting investors owning bonds against default, and traders use them to speculate on changes in credit quality. Interest paid to or by the Funds is accrued daily and included in realized gain (loss) on swap agreements. The contracts are marked-to-market daily using fair value estimates provided by an independent pricing service. Changes in value are recorded as unrealized appreciation (depreciation). Unrealized gains are reported as an asset and unrealized losses are reported as a liability. The change in value of swap agreements, including accruals of periodic amounts of interest to be paid or received is reported as unrealized gains or losses. Gains or losses are realized upon termination of the contracts. Credit default swaps sold by a Fund may involve greater risks than if a Fund had invested in the reference obligation directly. Credit default swaps are subject to general market risk, liquidity risk, counterparty credit risk and credit risk of the issuer. Details of swap contracts, if any, at period end are included in the Investment Portfolios under the caption “Swap Contracts.”
 

Notes to Investment Portfolios
(UNAUDITED) | 01.31.2018

 
·
Futures contracts | Each of the Funds’ policies, except Small Cap Growth, International, Mid Cap, and Small Cap, permit the Funds to enter into futures contracts (“Futures”), including interest rate, bond, U.S. Treasury and fixed income index Futures, as a hedge against movements in the equity and bond markets in order to establish more definitively the effective return on securities held or intended to be acquired by the Funds or for other purposes permissible under the Commodity Exchange Act, including as a means to gain or reduce exposure to a reference instrument without actually buying or selling it. When a Fund enters into Futures, it must deliver to an account controlled by the futures commission merchant (“FCM”) an amount referred to as “initial margin.” Initial margin requirements are determined by the respective exchanges on which the Futures are traded and the FCM. Thereafter, a “variation margin” amount may be required to be paid by the Fund or received by the Fund in accordance with margin controls set for such accounts, depending upon changes in the marked-to-market value of the Futures. The account is marked-to-market daily and the unrealized gains or losses are recorded as variation margin and monitored by the Advisor and custodian on a daily basis. When Futures are closed out, the Fund recognizes a realized gain or loss. The risks of entering into Futures include the possibility that a change in the value of the contract may not correlate with the changes in the value of the underlying instrument. The purchase of Futures involves the risk that the Fund could lose more than the amount invested in Futures. Details of futures contracts, if any, at period end are included in the Investment Portfolios under the caption “Futures Contracts.”
 
 

Item 2. Controls and Procedures

(a)
Based on an evaluation of the disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940), the Principal Executive Officer and Principal Financial Officer of Carillon Series Trust have concluded that such disclosure controls and procedures are effective as of a date within 90 days of the filing date of this Form N-Q.

(b)
There was no change in the internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) of Carillon Series Trust that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, its internal controls over financial reporting.

Item 3. Exhibits
 
(a)
Certifications of the Principal Executive Officer and Principal Financial Officer of Carillon Series Trust as required by Rule 30a-2(a) under the Investment Company Act of 1940.

 

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
CARILLON SERIES TRUST
Date: March 22, 2018
 
/s/ Susan L. Walzer
Susan L. Walzer
Principal Executive Officer
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 
CARILLON SERIES TRUST
Date: March 22, 2018
/s/ Susan L. Walzer
Susan L. Walzer
Principal Executive Officer
 
Date: March 22, 2018
 
/s/ Susan L. Walzer
Susan L. Walzer
Interim Principal Financial Officer