N-Q 1 carillon-eagle_nq.htm QUARTERLY NOTICE OF SECURITIES SOLD

 
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: July 31, 2018


Item 1. Schedule of Investments
Investment Portfolios
       
(UNAUDITED) | 07.31.2018
       
CARILLON CLARIVEST CAPITAL APPRECIATION FUND
       
COMMON STOCKS - 99.9%
 
Shares
   
Value
 
Aerospace & defense - 3.5%
       
Northrop Grumman Corp.
   
21,900
   
$
6,580,731
 
The Boeing Co.
   
28,800
     
10,261,440
 
Auto components - 0.6%
         
Lear Corp.
   
16,000
     
2,882,080
 
Banks - 1.7%
         
Bank of America Corp.
   
77,000
     
2,377,760
 
Comerica, Inc.
   
46,900
     
4,546,486
 
Zions Bancorp
   
28,500
     
1,473,450
 
Beverages - 1.7%
         
Constellation Brands, Inc., Class A
   
12,300
     
2,585,829
 
The Coca-Cola Co.
   
121,700
     
5,674,871
 
Biotechnology - 4.3%
         
AbbVie, Inc.
   
73,100
     
6,742,013
 
Amgen, Inc.
   
44,800
     
8,805,440
 
Biogen, Inc.*
   
8,300
     
2,775,271
 
Celgene Corp.*
   
27,600
     
2,486,484
 
Capital markets - 2.1%
         
E*TRADE Financial Corp.*
   
89,100
     
5,329,071
 
The Goldman Sachs Group, Inc.
   
21,400
     
5,081,002
 
Chemicals - 1.5%
         
LyondellBasell Industries N.V., Class A
   
48,400
     
5,362,236
 
Westlake Chemical Corp.
   
16,165
     
1,733,211
 
Communications equipment - 0.8%
         
Cisco Systems, Inc.
   
86,100
     
3,641,169
 
Consumer finance - 0.6%
         
Capital One Financial Corp.
   
30,500
     
2,876,760
 
Containers & packaging - 0.4%
         
Owens-Illinois, Inc.*
   
102,300
     
1,910,964
 
Food & staples retailing - 0.6%
         
Wal-Mart Stores, Inc.
   
32,700
     
2,917,821
 
Food products - 1.2%
         
Archer-Daniels-Midland Co.
   
68,200
     
3,291,332
 
Tyson Foods, Inc., Class A
   
45,500
     
2,623,075
 
Health care equipment & supplies - 2.3%
         
Edwards Lifesciences Corp.*
   
39,100
     
5,569,795
 
The Cooper Companies, Inc.
   
20,800
     
5,418,400
 
 

Health care providers & services - 6.8%
       
Aetna, Inc.
   
32,100
     
6,047,319
 
Centene Corp.*
   
25,970
     
3,384,670
 
CVS Health Corp.
   
26,800
     
1,738,248
 
Laboratory Corp. of America Holdings*
   
31,400
     
5,505,676
 
UnitedHealth Group, Inc.
   
63,300
     
16,028,826
 
Hotels, restaurants & leisure - 2.7%
         
Dominos Pizza, Inc.
   
16,000
     
4,202,560
 
McDonald's Corp.
   
31,885
     
5,023,163
 
Wyndham Destinations, Inc.
   
39,000
     
1,798,680
 
Wyndham Hotels & Resorts, Inc.
   
38,700
     
2,244,600
 
Household durables - 1.3%
         
D.R. Horton, Inc.
   
149,000
     
6,511,300
 
Insurance - 0.5%
         
The Progressive Corp.
   
42,600
     
2,556,426
 
Internet & direct marketing retail - 5.6%
         
Amazon.com, Inc.*
   
15,200
     
27,017,088
 
Internet software & services - 10.3%
         
Alphabet, Inc., Class A*
   
12,214
     
14,989,265
 
Alphabet, Inc., Class C*
   
12,212
     
14,865,179
 
eBay, Inc.*
   
102,600
     
3,431,970
 
Facebook, Inc., Class A*
   
80,400
     
13,875,432
 
Twitter, Inc.*
   
87,700
     
2,794,999
 
IT services - 9.1%
         
Amdocs Ltd.
   
55,700
     
3,764,206
 
Fiserv, Inc.*
   
73,200
     
5,525,136
 
Global Payments, Inc.
   
22,000
     
2,476,540
 
MasterCard, Inc., Class A
   
61,330
     
12,143,340
 
Visa, Inc., Class A
   
102,800
     
14,056,872
 
Worldpay, Inc., Class A*
   
74,946
     
6,159,812
 
Life sciences tools & services - 1.7%
         
Thermo Fisher Scientific, Inc.
   
34,700
     
8,138,191
 
Machinery - 2.6%
         
Caterpillar, Inc.
   
35,400
     
5,090,520
 
Ingersoll-Rand PLC
   
32,900
     
3,240,979
 
Oshkosh Corp.
   
35,700
     
2,686,425
 
Stanley Black & Decker, Inc.
   
12,000
     
1,793,640
 
Media - 0.7%
         
The Walt Disney Co.
   
27,700
     
3,145,612
 
Metals & mining - 1.2%
         
Steel Dynamics, Inc.
   
119,200
     
5,613,128
 
Multiline retail - 0.8%
         
Kohl's Corp.
   
54,433
     
4,020,966
 
Oil, gas & consumable fuels - 2.5%
         
Occidental Petroleum Corp.
   
87,000
     
7,301,910
 
Valero Energy Corp.
   
40,800
     
4,828,680
 
 

Pharmaceuticals - 2.4%
       
Johnson & Johnson
   
38,200
     
5,062,264
 
Merck & Co., Inc.
   
100,200
     
6,600,174
 
Real estate management & development - 0.9%
         
CBRE Group, Inc., Class A*
   
89,185
     
4,441,413
 
Road & rail - 0.8%
         
CSX Corp.
   
57,200
     
4,042,896
 
Semiconductors & semiconductor equipment - 2.8%
         
KLA-Tencor Corp.
   
19,900
     
2,336,658
 
Micron Technology, Inc.*
   
75,600
     
3,990,924
 
NVIDIA Corp.
   
29,600
     
7,247,856
 
Software - 12.1%
         
Activision Blizzard, Inc.
   
64,800
     
4,757,616
 
Adobe Systems, Inc.*
   
33,200
     
8,123,376
 
Electronic Arts, Inc.*
   
42,000
     
5,407,500
 
Microsoft Corp.
   
329,400
     
34,942,752
 
Synopsys, Inc.*
   
62,600
     
5,598,318
 
Specialty retail - 3.9%
         
Burlington Stores, Inc.*
   
26,181
     
4,000,719
 
Ross Stores, Inc.
   
36,900
     
3,226,167
 
The Home Depot, Inc.
   
60,000
     
11,851,200
 
Technology hardware, storage & peripherals - 7.2%
         
Apple, Inc.
   
151,166
     
28,765,378
 
NetApp, Inc.
   
80,200
     
6,217,104
 
Textiles, apparel & luxury goods - 1.8%
         
PVH Corp.
   
43,800
     
6,724,176
 
VF Corp.
   
23,443
     
2,158,397
 
Trading companies & distributors - 0.9%
         
United Rentals, Inc.*
   
29,900
     
4,449,120
 
Total common stocks (cost $303,496,166)
     
484,892,057
 
Total investment portfolio (cost $303,496,166) - 99.9%‡
     
484,892,057
 
Other assets in excess of liabilities - 0.1%
     
664,275
 
Total net assets - 100.0%
   
$
485,556,332
 
   
*Non-income producing security
               
                 
‡The cost basis of investments for federal income tax purposes at July 31, 2018 was as follows+:
 
Cost of investments
         
$
303,496,166
 
Gross unrealized appreciation
           
182,969,192
 
Gross unrealized depreciation
           
(1,573,301
)
Net unrealized appreciation (depreciation)
         
$
181,395,891
 
                 
+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
     
42.2
%
Consumer discretionary
     
17.5
%
Health care
     
17.4
%
Industrials
     
7.9
%
Financials
     
5.0
%
Consumer staples
     
3.5
%
Materials
     
3.0
%
Energy
     
2.5
%
Real estate
     
0.9
%
                 
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) | 07.31.2018
       
CARILLON CLARIVEST INTERNATIONAL STOCK FUND
       
COMMON STOCKS - 96.0%
 
Shares
   
Value
 
Australia - 3.7%
       
CSL Ltd.
   
1,363
   
$
199,415
 
Origin Energy Ltd.*
   
28,568
     
207,282
 
Qantas Airways Ltd.
   
31,764
     
158,760
 
Santos Ltd.*
   
22,451
     
106,345
 
St Barbara Ltd.
   
20,657
     
63,287
 
Belgium - 1.1%
         
Anheuser-Busch InBev S.A./N.V.
   
2,174
     
221,234
 
Denmark - 1.1%
         
DFDS A/S
   
1,775
     
116,910
 
Royal Unibrew A/S
   
1,277
     
106,364
 
Finland - 0.4%
         
Stora Enso OYJ, Class R
   
5,232
     
86,340
 
France - 7.1%
         
BNP Paribas S.A.
   
2,215
     
143,686
 
Cie Generale des Etablissements Michelin
   
730
     
93,744
 
Credit Agricole S.A.
   
9,828
     
138,085
 
Eiffage S.A.
   
2,835
     
316,812
 
ENGIE S.A.
   
4,366
     
70,504
 
Peugeot S.A.
   
8,443
     
242,499
 
Renault S.A.
   
1,894
     
166,442
 
VINCI S.A.
   
2,501
     
251,654
 
Germany - 8.2%
         
Allianz SE
   
1,834
     
405,779
 
BASF SE
   
2,024
     
194,017
 
CANCOM SE
   
1,752
     
94,843
 
Covestro AG
   
3,961
     
380,399
 
Daimler AG
   
793
     
54,887
 
Deutsche Lufthansa AG
   
2,923
     
82,011
 
Leoni AG
   
1,989
     
101,462
 
Siltronic AG
   
649
     
113,194
 
TAG Immobilien AG
   
4,176
     
94,399
 
Wirecard AG
   
688
     
128,706
 
Hong Kong - 0.7%
         
CK Asset Holdings Ltd.
   
10,672
     
81,731
 
Kerry Properties Ltd.
   
10,500
     
53,264
 
Israel - 1.5%
         
Bank Leumi Le-Israel B.M.
   
13,380
     
83,856
 
Israel Discount Bank Ltd., Class A
   
48,594
     
153,620
 
Tower Semiconductor Ltd.*
   
2,763
     
56,515
 
Italy - 2.9%
         
Enel SpA
   
58,577
     
326,327
 
Eni SpA
   
8,505
     
163,708
 
Intesa Sanpaolo SpA
   
31,288
     
95,886
 
 

Japan - 29.2%
         
ANA Holdings, Inc.
   
2,100
     
77,115
 
Asahi Group Holdings Ltd.
   
8,300
     
403,420
 
Cosmo Energy Holdings Co. Ltd.
   
1,900
     
67,054
 
Fukuoka Financial Group, Inc.
   
21,000
     
114,937
 
Haseko Corp.
   
4,200
     
55,733
 
Hitachi Ltd.
   
42,000
     
293,612
 
Honda Motor Co. Ltd.
   
6,400
     
195,396
 
ITOCHU Corp.
   
25,000
     
443,910
 
JXTG Holdings, Inc.
   
30,600
     
224,341
 
KDDI Corp.
   
4,200
     
116,915
 
Kyocera Corp.
   
2,100
     
122,221
 
Marubeni Corp.
   
57,700
     
440,520
 
Mitsubishi Chemical Holdings Corp.
   
9,000
     
78,835
 
Mitsubishi Corp.
   
4,200
     
117,403
 
Mitsubishi UFJ Financial Group, Inc.
   
33,100
     
203,130
 
Mitsui Chemicals, Inc.
   
4,200
     
113,119
 
Nichirei Corp.
   
4,200
     
97,637
 
Nihon Unisys Ltd.
   
2,900
     
66,940
 
Nippon Carbon Co. Ltd.
   
1,800
     
103,623
 
Nippon Light Metal Holdings Co. Ltd.
   
13,400
     
30,271
 
Nippon Suisan Kaisha Ltd.
   
10,900
     
53,610
 
Nippon Telegraph & Telephone Corp.
   
8,300
     
383,904
 
Nipro Corp.
   
6,400
     
78,195
 
Penta-Ocean Construction Co. Ltd.
   
11,500
     
72,461
 
Ricoh Co. Ltd.
   
10,400
     
101,531
 
SCREEN Holdings Co. Ltd.
   
2,100
     
153,208
 
SoftBank Group Corp.
   
2,100
     
175,397
 
Sony Corp.
   
4,200
     
225,737
 
Sumitomo Corp.
   
12,500
     
205,834
 
Sumitomo Mitsui Financial Group, Inc.
   
4,200
     
166,688
 
The Hiroshima Bank Ltd.
   
8,800
     
60,557
 
The Kansai Electric Power Co., Inc.
   
12,500
     
177,943
 
Tokyo Electron Ltd.
   
2,100
     
368,130
 
Toyota Motor Corp.
   
4,200
     
276,071
 
Netherlands - 3.6%
         
Aegon N.V.
   
17,580
     
115,887
 
AerCap Holdings N.V.*
   
2,000
     
112,260
 
NN Group N.V.
   
7,838
     
346,259
 
NXP Semiconductors N.V.*
   
1,497
     
142,724
 
Norway - 0.6%
         
Aker BP ASA
   
3,548
     
126,774
 
Singapore - 2.2%
         
DBS Group Holdings Ltd.
   
8,300
     
163,305
 
Oversea-Chinese Banking Corp. Ltd.
   
26,500
     
225,758
 
Yanlord Land Group Ltd.
   
40,700
     
45,533
 
 

Spain - 1.9%
         
Banco Bilbao Vizcaya Argentaria S.A.
   
12,799
     
93,761
 
Banco Santander S.A.
   
18,377
     
103,244
 
Iberdrola S.A.
   
15,430
     
119,966
 
Repsol S.A.
   
3,778
     
74,936
 
Sweden - 3.5%
         
Ahlsell AB
   
23,832
     
139,679
 
Boliden AB
   
2,597
     
77,307
 
SSAB AB, Class B
   
13,717
     
54,441
 
Svenska Cellulosa AB SCA, Class B
   
7,269
     
75,212
 
Tele2 AB, Class B
   
8,808
     
118,189
 
Volvo AB, Class B
   
13,425
     
235,595
 
Switzerland - 13.4%
         
Lonza Group AG*
   
1,272
     
391,544
 
Nestle S.A.
   
5,614
     
457,504
 
Novartis AG
   
5,378
     
451,331
 
Roche Holding AG
   
1,438
     
353,240
 
Sika AG
   
1,260
     
178,905
 
Straumann Holding AG
   
280
     
217,427
 
Swiss Life Holding AG*
   
584
     
209,410
 
UBS Group AG*
   
10,949
     
179,963
 
Zurich Insurance Group AG
   
792
     
242,867
 
United Kingdom - 14.9%
         
3i Group PLC
   
19,458
     
241,663
 
Ashtead Group PLC
   
5,678
     
174,310
 
Aviva PLC
   
20,365
     
133,466
 
Barclays PLC
   
44,882
     
114,171
 
Bellway PLC
   
3,005
     
114,874
 
BP PLC
   
50,655
     
380,693
 
Carnival PLC
   
3,412
     
198,057
 
Electrocomponents PLC
   
8,148
     
76,647
 
Glencore PLC*
   
29,436
     
129,089
 
HSBC Holdings PLC
   
15,960
     
152,837
 
Lloyds Banking Group PLC
   
149,870
     
122,844
 
Persimmon PLC
   
2,699
     
87,783
 
Redrow PLC
   
7,571
     
53,374
 
Royal Dutch Shell PLC, Class B
   
15,092
     
528,628
 
Standard Chartered PLC
   
13,113
     
118,244
 
Tesco PLC
   
105,413
     
359,984
 
Total common stocks (cost $17,379,537)
     
19,259,050
 
                 
PREFERRED STOCKS - 1.1%
         
Germany - 1.1%
         
Volkswagen AG
   
1,188
     
211,656
 
Total preferred stocks (cost $225,790)
     
211,656
 
 

EXCHANGE TRADED FUNDS - 1.0%
         
United States—1.0%
               
iShares MSCI EAFE ETF
   
2,900
     
199,752
 
Total exchange traded funds (cost $203,653)
     
199,752
 
Total investment portfolio (cost $17,808,980) - 98.1%‡
     
19,670,458
 
Other assets in excess of liabilities - 1.9%
     
386,651
 
Total net assets - 100.0%
   
$
20,057,109
 
 
*Non-income producing security
               
ETF - Exchange Traded Fund
               
                 
‡The cost basis of investments for federal income tax purposes at July 31, 2018 was as follows+:
         
Cost of investments
         
$
17,808,980
 
Gross unrealized appreciation
           
2,674,526
 
Gross unrealized depreciation
           
(813,048
)
Net unrealized appreciation (depreciation)
         
$
1,861,478
 
                 
+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
 
20.6%
Industrials
 
15.2%
Consumer discretionary
 
10.3%
Energy
 
9.4%
Information technology
 
8.6%
Consumer staples
 
8.5%
Health care
 
8.4%
Materials
 
7.3%
Telecommunication services
 
3.9%
Utilities
 
3.5%
Real estate
 
1.4%
Exchange traded funds
 
1.0%
 
 

Industry allocation
   
Industry
Value
Percent of net assets
Banks
 $          2,254,608
 
11.2%
Oil, gas & consumable fuels
1,879,760
 
9.4%
Trading companies & distributors
1,633,918
 
8.1%
Insurance
1,453,669
 
7.2%
Automobiles
1,146,950
 
5.7%
Chemicals
945,276
 
4.7%
Semiconductors & semiconductor equipment
833,771
 
4.2%
Pharmaceuticals
804,571
 
4.0%
Beverages
731,018
 
3.6%
Construction & engineering
640,926
 
3.2%
Electric utilities
624,236
 
3.1%
Food products
608,752
 
3.0%
Household durables
537,501
 
2.7%
Electronic equipment, instruments & components
492,479
 
2.5%
Capital markets
421,625
 
2.1%
Wireless telecommunication services
410,500
 
2.0%
Life sciences tools & services
391,544
 
2.0%
Diversified telecommunication services
383,905
 
1.9%
Food & staples retailing
359,984
 
1.8%
Metals & mining
354,396
 
1.8%
Airlines
317,886
 
1.6%
Health care equipment & supplies
295,622
 
1.5%
IT services
290,489
 
1.4%
Real estate management & development
274,926
 
1.4%
Machinery
235,596
 
1.2%
Exchange traded funds
199,752
 
1.0%
Biotechnology
199,415
 
1.0%
Hotels, restaurants & leisure
198,057
 
1.0%
Auto components
195,206
 
1.0%
Paper & forest products
161,552
 
0.8%
Marine
116,910
 
0.6%
Electrical equipment
103,623
 
0.5%
Technology hardware, storage & peripherals
101,531
 
0.5%
Multi-utilities
70,504
 
0.4%


Investment Portfolios
       
(UNAUDITED) | 07.31.2018
       
CARILLON COUGAR TACTICAL ALLOCATION FUND
       
EXCHANGE TRADED FUNDS - 97.2%
 
Shares
   
Value
 
Equity - 79.5%
           
iShares Core S&P 500 ETF
   
29,697
   
$
8,412,566
 
iShares Core S&P Mid-Cap ETF
   
12,584
     
2,492,890
 
iShares Core S&P Small-Cap ETF
   
29,205
     
2,516,303
 
                 
Fixed Income - 17.7%
               
iShares Core U.S. Aggregate Bond ETF
   
28,248
     
2,995,983
 
Total exchange traded funds (cost $15,217,803)
     
16,417,742
 
                 
Total investment portfolio (cost $15,217,803) - 97.2%‡
     
16,417,742
 
Other assets in excess of liabilities - 2.8%
     
476,486
 
Total net assets- 100.0%
   
$
16,894,228
 
 
ETF - Exchange Traded Fund
               
                 
‡The cost basis of investments for federal income tax purposes at July 31, 2018 was as follows+:
         
Cost of investments
         
$
15,217,803
 
Gross unrealized appreciation
           
1,241,527
 
Gross unrealized depreciation
           
(41,588
)
Net unrealized appreciation (depreciation)
         
$
1,199,939
 
                 
+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
 
79.5%
Fixed Income
 
17.7%
 


Investment Portfolios
       
(UNAUDITED) | 07.31.2018
       
CARILLON EAGLE GROWTH & INCOME FUND
       
COMMON STOCKS - 97.0%
 
Shares
   
Value
 
Aerospace & defense - 3.5%
       
Lockheed Martin Corp.
   
63,968
   
$
20,859,965
 
Banks - 11.5%
         
JPMorgan Chase & Co.
   
233,814
     
26,876,919
 
The PNC Financial Services Group, Inc.
   
163,563
     
23,688,829
 
Wells Fargo & Co.
   
325,516
     
18,648,812
 
Beverages - 5.4%
         
PepsiCo, Inc.
   
127,528
     
14,665,720
 
The Coca-Cola Co.
   
388,883
     
18,133,614
 
Chemicals - 2.3%
         
DowDuPont, Inc.
   
199,450
     
13,716,177
 
Communications equipment - 3.1%
         
Cisco Systems, Inc.
   
444,284
     
18,788,770
 
Diversified telecommunication services - 2.5%
         
AT&T, Inc.
   
479,766
     
15,338,119
 
Electric utilities - 2.1%
         
Evergy, Inc.
   
227,527
     
12,761,989
 
Equity real estate investment trusts (REITs) - 6.7%
         
Camden Property Trust
   
85,900
     
7,953,481
 
Crown Castle International Corp.
   
135,903
     
15,062,129
 
Prologis, Inc.
   
185,603
     
12,179,269
 
Simon Property Group, Inc.
   
30,074
     
5,299,340
 
Food & staples retailing - 2.3%
         
Sysco Corp.
   
209,673
     
14,092,122
 
Health care equipment & supplies - 5.0%
         
Abbott Laboratories
   
224,429
     
14,709,077
 
Medtronic PLC
   
170,643
     
15,397,118
 
Hotels, restaurants & leisure - 5.0%
         
Carnival Corp.
   
310,185
     
18,375,359
 
McDonald's Corp.
   
75,162
     
11,841,022
 
Household products - 2.0%
         
The Procter & Gamble Co.
   
146,598
     
11,856,846
 
Industrial conglomerates - 5.9%
         
3M Co.
   
61,727
     
13,105,877
 
Honeywell International, Inc.
   
142,940
     
22,820,371
 
Media - 3.2%
         
Cinemark Holdings, Inc.
   
543,622
     
19,526,902
 
Multi-utilities - 2.1%
         
Sempra Energy
   
109,716
     
12,682,072
 
Oil, gas & consumable fuels - 9.0%
         
Chevron Corp.
   
142,508
     
17,994,485
 
Occidental Petroleum Corp.
   
210,784
     
17,691,101
 
TOTAL S.A., Sponsored ADR
   
281,973
     
18,398,739
 
 

Pharmaceuticals - 9.5%
         
Johnson & Johnson
   
151,361
     
20,058,360
 
Merck & Co., Inc.
   
228,027
     
15,020,138
 
Pfizer, Inc.
   
552,982
     
22,080,571
 
Road & rail - 3.1%
         
Union Pacific Corp.
   
123,757
     
18,549,937
 
Software - 4.7%
         
Microsoft Corp.
   
269,295
     
28,566,814
 
Specialty retail - 1.9%
         
The Home Depot, Inc.
   
58,165
     
11,488,751
 
Technology hardware, storage & peripherals - 4.1%
         
Apple, Inc.
   
130,751
     
24,880,608
 
Tobacco - 2.1%
         
Altria Group, Inc.
   
218,803
     
12,839,360
 
Total common stocks (cost $377,362,835)
     
585,948,763
 
Total investment portfolio (cost $377,362,835) - 97.0%‡
     
585,948,763
 
Other assets in excess of liabilities - 3.0%
     
17,878,125
 
Total net assets - 100.0%
   
$
603,826,888
 
 
ADR - American depository receipt
               
                 
‡The cost basis of investments for federal income tax purposes at July 31, 2018 was as follows+:
         
Cost of investments
         
$
377,362,835
 
Gross unrealized appreciation
           
209,501,062
 
Gross unrealized depreciation
           
(915,134
)
Net unrealized appreciation (depreciation)
         
$
208,585,928
 
 
+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
 
14.4%
Industrials
 
12.5%
Information technology
 
12.0%
Consumer staples
 
11.8%
Financials
 
11.5%
Consumer discretionary
 
10.1%
Energy
 
9.0%
Real estate
 
6.7%
Utilities
 
4.2%
Telecommunication services
 
2.5%
Materials
 
2.3%

Investment Portfolios
       
(UNAUDITED) | 07.31.2018
       
CARILLON EAGLE MID CAP GROWTH FUND
       
COMMON STOCKS - 99.3%
 
Shares
   
Value
 
Aerospace & defense - 2.1%
       
Harris Corp.
   
269,211
   
$
44,406,354
 
Hexcel Corp.
   
624,556
     
43,100,610
 
Air freight & logistics - 0.9%
         
C.H. Robinson Worldwide, Inc.
   
414,487
     
38,228,136
 
Auto components - 1.0%
         
Aptiv PLC
   
441,226
     
43,271,034
 
Banks - 2.2%
         
Synovus Financial Corp.
   
930,675
     
45,993,958
 
Western Alliance Bancorp*
   
829,608
     
47,055,366
 
Beverages - 2.4%
         
Constellation Brands, Inc., Class A
   
201,598
     
42,381,948
 
Monster Beverage Corp.*
   
983,453
     
59,026,849
 
Biotechnology - 3.1%
         
Bluebird Bio, Inc.*
   
168,144
     
26,045,506
 
Exact Sciences Corp.*
   
457,251
     
26,726,321
 
Sage Therapeutics, Inc.*
   
177,576
     
25,627,768
 
Sarepta Therapeutics, Inc.*
   
208,580
     
24,245,339
 
Seattle Genetics, Inc.*
   
421,456
     
29,670,502
 
Building products - 2.9%
         
A.O. Smith Corp.
   
612,457
     
36,459,565
 
Allegion PLC
   
410,542
     
33,475,595
 
Fortune Brands Home & Security, Inc.
   
948,381
     
55,006,098
 
Capital markets - 4.2%
         
Ameriprise Financial, Inc.
   
452,096
     
65,856,824
 
MarketAxess Holdings, Inc.
   
210,568
     
40,801,761
 
Moody's Corp.
   
282,845
     
48,400,437
 
Morningstar, Inc.
   
177,158
     
23,384,856
 
Chemicals - 1.8%
         
Huntsman Corp.
   
1,323,048
     
44,361,799
 
The Sherwin-Williams Co.
   
76,849
     
33,869,660
 
Commercial services & supplies - 2.4%
         
Waste Connections, Inc.
   
1,304,713
     
101,258,776
 
Construction & engineering - 0.9%
         
Fluor Corp.
   
708,162
     
36,293,302
 
Construction materials - 1.5%
         
Martin Marietta Materials, Inc.
   
319,259
     
63,666,630
 
Distributors - 1.3%
         
Pool Corp.
   
359,379
     
55,074,832
 
Diversified consumer services - 1.6%
         
Bright Horizons Family Solutions, Inc.*
   
333,339
     
35,663,940
 
ServiceMaster Global Holdings, Inc.*
   
566,686
     
32,295,435
 
 

Diversified telecommunication services - 1.0%
         
Zayo Group Holdings, Inc.*
   
1,138,261
     
42,218,100
 
Electronic equipment, instruments & components - 6.7%
         
Amphenol Corp., Class A
   
471,909
     
44,128,211
 
Cognex Corp.
   
920,021
     
48,558,708
 
Coherent, Inc.*
   
290,017
     
45,840,087
 
FLIR Systems, Inc.
   
958,530
     
56,169,858
 
IPG Photonics Corp.*
   
208,415
     
34,188,397
 
Keysight Technologies, Inc.*
   
976,806
     
56,654,748
 
Equity real estate investment trusts (REITs) - 1.8%
         
SBA Communications Corp.*
   
495,103
     
78,350,050
 
Food products - 0.5%
         
The Hain Celestial Group, Inc.*
   
785,720
     
22,345,877
 
Health care equipment & supplies - 7.4%
         
ABIOMED, Inc.*
   
198,779
     
70,473,119
 
Align Technology, Inc.*
   
224,451
     
80,050,449
 
Edwards Lifesciences Corp.*
   
358,559
     
51,076,730
 
IDEXX Laboratories, Inc.*
   
290,711
     
71,203,845
 
Intuitive Surgical, Inc.*
   
77,953
     
39,614,935
 
Health care providers & services - 1.5%
         
Centene Corp.*
   
481,673
     
62,776,442
 
Hotels, restaurants & leisure - 4.4%
         
Chipotle Mexican Grill, Inc.*
   
80,855
     
35,063,579
 
ILG, Inc.
   
1,433,443
     
49,210,098
 
Royal Caribbean Cruises Ltd.
   
404,300
     
45,588,868
 
Vail Resorts, Inc.
   
201,350
     
55,747,775
 
Household durables - 0.7%
         
Lennar Corp., Class A
   
573,379
     
29,970,520
 
Insurance - 1.0%
         
The Progressive Corp.
   
722,222
     
43,340,542
 
Internet & direct marketing retail - 2.6%
         
Qurate Retail Group, Inc., Class A*
   
3,006,147
     
64,000,870
 
TripAdvisor, Inc.*
   
775,076
     
44,946,657
 
Internet software & services - 1.6%
         
Spotify Technology S.A.*
   
202,201
     
36,968,409
 
Twitter, Inc.*
   
934,705
     
29,789,048
 
IT services - 4.6%
         
DXC Technology Co.
   
349,912
     
29,651,543
 
Global Payments, Inc.
   
318,699
     
35,875,946
 
Perspecta, Inc.
   
1,453,777
     
31,546,961
 
Square, Inc., Class A*
   
890,305
     
57,558,218
 
Worldpay, Inc., Class A*
   
483,399
     
39,730,564
 
Leisure products - 1.2%
         
Brunswick Corp.
   
794,455
     
51,083,456
 
 

Life sciences tools & services - 2.5%
         
Illumina, Inc.*
   
153,154
     
49,677,032
 
IQVIA Holdings, Inc.*
   
275,534
     
33,598,616
 
PRA Health Sciences, Inc.*
   
210,358
     
22,117,040
 
Machinery - 1.0%
         
WABCO Holdings, Inc.*
   
352,909
     
44,353,603
 
Media - 2.8%
         
Lions Gate Entertainment Corp., Class A
   
986,457
     
23,526,999
 
Lions Gate Entertainment Corp., Class B
   
469,495
     
10,737,351
 
Sirius XM Holdings, Inc.
   
11,916,725
     
83,655,410
 
Multiline retail - 0.9%
         
Dollar Tree, Inc.*
   
430,453
     
39,291,750
 
Oil, gas & consumable fuels - 2.9%
         
Concho Resources, Inc.*
   
458,394
     
66,856,765
 
Diamondback Energy, Inc.
   
434,385
     
57,317,101
 
Pharmaceuticals - 0.8%
         
Zoetis, Inc.
   
409,608
     
35,422,900
 
Professional services - 3.6%
         
IHS Markit Ltd.*
   
1,191,376
     
63,178,669
 
TransUnion
   
1,236,171
     
89,498,781
 
Road & rail - 1.0%
         
Old Dominion Freight Line, Inc.
   
276,745
     
40,626,166
 
Semiconductors & semiconductor equipment - 5.7%
         
Advanced Micro Devices, Inc.*
   
5,312,911
     
97,385,658
 
Maxim Integrated Products, Inc.
   
743,312
     
45,446,096
 
Microchip Technology, Inc.
   
608,729
     
56,873,550
 
NVIDIA Corp.
   
167,924
     
41,117,871
 
Software - 10.6%
         
Autodesk, Inc.*
   
415,856
     
53,412,545
 
Electronic Arts, Inc.*
   
388,841
     
50,063,279
 
PTC, Inc.*
   
482,792
     
44,373,413
 
ServiceNow, Inc.*
   
291,154
     
51,231,458
 
Splunk, Inc.*
   
609,593
     
58,581,887
 
Synopsys, Inc.*
   
512,403
     
45,824,200
 
Tableau Software, Inc., Class A*
   
478,865
     
49,356,615
 
The Ultimate Software Group, Inc.*
   
169,637
     
46,970,789
 
Tyler Technologies, Inc.*
   
226,510
     
50,962,485
 
Specialty retail - 2.3%
         
Burlington Stores, Inc.*
   
650,450
     
99,395,264
 
Trading companies & distributors - 1.9%
         
United Rentals, Inc.*
   
304,910
     
45,370,608
 
W.W. Grainger, Inc.
   
107,950
     
37,411,152
 
Total common stocks (cost $3,241,282,418)
     
4,219,006,864
 
Total investment portfolio (cost $3,241,282,418) - 99.3%‡
     
4,219,006,864
 
Other assets in excess of liabilities - 0.7%
     
31,226,301
 
Total net assets - 100.0%
   
$
4,250,233,165
 
   
 

*Non-income producing security
     
       
‡The cost basis of investments for federal income tax purposes at July 31, 2018 was as follows+:
 
Cost of investments
 
$
3,241,282,418
 
Gross unrealized appreciation
   
1,026,828,664
 
Gross unrealized depreciation
   
(49,104,218
)
Net unrealized appreciation (depreciation)
 
$
977,724,446
 
         
+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
 
29.1%
Consumer discretionary
 
18.8%
Industrials
 
16.7%
Health care
 
15.3%
Financials
 
7.4%
Materials
 
3.4%
Energy
 
2.9%
Consumer staples
 
2.9%
Real estate
 
1.8%
Telecommunication services
 
1.0%
 


Investment Portfolios
       
(UNAUDITED) | 07.31.2018
       
CARILLON EAGLE SMALL CAP GROWTH FUND
       
COMMON STOCKS - 95.2%
 
Shares
   
Value
 
Aerospace & defense - 1.9%
       
Aerojet Rocketdyne Holdings, Inc.*
   
1,027,622
   
$
34,630,861
 
Hexcel Corp.
   
1,027,847
     
70,931,722
 
Auto components - 1.1%
         
Visteon Corp.*
   
538,481
     
63,045,355
 
Banks - 2.8%
         
Glacier Bancorp, Inc.
   
1,003,965
     
42,869,305
 
Texas Capital Bancshares, Inc.*
   
710,637
     
64,525,840
 
UMB Financial Corp.
   
690,838
     
49,664,344
 
Biotechnology - 10.7%
         
Acceleron Pharma, Inc.*
   
657,640
     
28,646,798
 
Aimmune Therapeutics, Inc.*
   
964,906
     
27,905,082
 
Akebia Therapeutics, Inc.*
   
114,065
     
1,174,869
 
Amicus Therapeutics, Inc.*
   
1,859,320
     
27,053,106
 
Atara Biotherapeutics, Inc.*
   
1,286,445
     
48,306,010
 
Biohaven Pharmaceutical Holding Co. Ltd.*
   
690,417
     
23,833,195
 
Blueprint Medicines Corp.*
   
566,166
     
33,709,524
 
Dynavax Technologies Corp.*
   
1,636,176
     
22,088,376
 
Exact Sciences Corp.*
   
453,023
     
26,479,194
 
FibroGen, Inc.*
   
708,315
     
44,694,676
 
Heron Therapeutics, Inc.*
   
1,274,695
     
47,737,328
 
Kura Oncology, Inc.*
   
1,502,217
     
30,495,005
 
Ligand Pharmaceuticals, Inc.*
   
224,422
     
48,998,055
 
Loxo Oncology, Inc.*
   
256,146
     
42,927,508
 
Progenics Pharmaceuticals, Inc.*
   
3,948,024
     
31,524,972
 
Puma Biotechnology, Inc.*
   
207,820
     
10,006,533
 
Sage Therapeutics, Inc.*
   
262,656
     
37,906,514
 
Sarepta Therapeutics, Inc.*
   
522,334
     
60,716,104
 
Building products - 2.9%
         
Builders FirstSource, Inc.*
   
3,393,907
     
60,852,753
 
Trex Co., Inc.*
   
1,311,900
     
101,987,106
 
Capital markets - 1.1%
         
PJT Partners, Inc. Class A
   
439,462
     
26,460,007
 
Stifel Financial Corp.
   
662,802
     
36,540,274
 
Chemicals - 2.9%
         
Quaker Chemical Corp.
   
683,441
     
121,338,115
 
Sensient Technologies Corp.
   
592,223
     
41,076,587
 
Commercial services & supplies - 1.3%
         
Ritchie Bros Auctioneers, Inc.
   
1,374,455
     
45,728,118
 
The Brink's Co.
   
345,004
     
27,548,569
 
 

Communications equipment - 0.6%
         
Infinera Corp.*
   
355,223
     
2,955,456
 
Lumentum Holdings, Inc.*
   
594,857
     
31,081,278
 
Construction materials - 1.0%
         
Summit Materials, Inc., Class A*
   
2,180,026
     
54,718,653
 
Consumer finance - 2.1%
         
FirstCash, Inc.
   
503,334
     
40,870,721
 
Green Dot Corp., Class A*
   
958,585
     
76,034,962
 
Distributors - 0.8%
         
Pool Corp.
   
305,805
     
46,864,616
 
Diversified consumer services - 1.0%
         
Weight Watchers International, Inc.*
   
624,926
     
55,949,625
 
Electrical equipment - 0.7%
         
Thermon Group Holdings, Inc.*
   
1,616,313
     
40,520,967
 
Electronic equipment, instruments & components - 4.9%
         
Cognex Corp.
   
1,511,418
     
79,772,642
 
Coherent, Inc.*
   
566,591
     
89,555,374
 
IPG Photonics Corp.*
   
338,736
     
55,566,253
 
Littelfuse, Inc.
   
226,749
     
49,163,718
 
Equity real estate investment trusts (REITs) - 1.2%
         
Seritage Growth Properties, Class A
   
1,032,564
     
43,687,783
 
The GEO Group, Inc.
   
875,075
     
22,646,941
 
Food & staples retailing - 1.0%
         
Casey's General Stores, Inc.
   
495,260
     
54,171,539
 
Health care equipment & supplies - 5.2%
         
AxoGen, Inc.*
   
635,364
     
28,543,728
 
Inogen, Inc.*
   
139,746
     
27,844,390
 
Insulet Corp.*
   
404,355
     
33,626,162
 
Merit Medical Systems, Inc.*
   
1,068,907
     
58,041,650
 
Natus Medical, Inc.*
   
1,206,572
     
44,039,878
 
NuVasive, Inc.*
   
739,039
     
42,901,214
 
Penumbra, Inc.*
   
197,677
     
28,119,553
 
West Pharmaceutical Services, Inc.
   
235,498
     
25,822,356
 
Health care providers & services - 2.7%
         
Encompass Health Corp.
   
791,396
     
59,853,280
 
HealthEquity, Inc.*
   
752,482
     
56,812,391
 
Tivity Health, Inc.*
   
992,903
     
33,460,831
 
Health care technology - 4.4%
         
Cotiviti Holdings, Inc.*
   
1,393,443
     
62,203,295
 
Evolent Health, Inc., Class A*
   
1,633,453
     
32,995,751
 
Medidata Solutions, Inc.*
   
511,726
     
38,026,359
 
Omnicell, Inc.*
   
500,403
     
29,773,978
 
Teladoc, Inc.*
   
1,357,735
     
81,260,440
 
 

Hotels, restaurants & leisure - 4.4%
         
Dave & Buster's Entertainment, Inc.*
   
615,426
     
30,248,188
 
Penn National Gaming, Inc.*
   
2,322,613
     
74,439,747
 
Planet Fitness, Inc., Class A*
   
2,344,082
     
111,390,776
 
Wingstop, Inc.
   
550,174
     
27,151,087
 
Household durables - 0.9%
         
Universal Electronics, Inc.*
   
1,502,697
     
52,519,260
 
Insurance - 1.0%
         
Enstar Group Ltd.*
   
244,572
     
52,876,466
 
Trupanion, Inc.*
   
6,774
     
281,799
 
Internet & direct marketing retail - 1.4%
         
Nutrisystem, Inc.
   
1,957,557
     
78,302,280
 
Internet software & services - 1.8%
         
Alarm.com Holdings, Inc.*
   
648,459
     
27,799,437
 
Cornerstone OnDemand, Inc.*
   
1,509,541
     
74,571,326
 
IT services - 0.5%
         
Everi Holdings, Inc.*
   
3,839,352
     
28,219,237
 
Life sciences tools & services - 1.4%
         
PRA Health Sciences, Inc.*
   
761,184
     
80,030,886
 
Machinery - 6.5%
         
Chart Industries, Inc.*
   
1,216,688
     
95,011,166
 
Graco, Inc.
   
947,349
     
43,710,683
 
John Bean Technologies Corp.
   
684,254
     
75,678,492
 
Kennametal, Inc.
   
828,462
     
32,276,880
 
WABCO Holdings, Inc.*
   
378,643
     
47,587,852
 
Woodward, Inc.
   
777,879
     
64,727,312
 
Media - 0.3%
         
The New York Times Co., Class A
   
638,344
     
15,830,931
 
Multiline retail - 1.0%
         
Ollie's Bargain Outlet Holdings, Inc.*
   
782,688
     
54,396,816
 
Oil, gas & consumable fuels - 2.6%
         
Concho Resources, Inc.*
   
784,714
     
114,450,537
 
Diamondback Energy, Inc.
   
237,455
     
31,332,187
 
Pharmaceuticals - 2.1%
         
Catalent, Inc.*
   
584,355
     
24,367,604
 
Cymabay Therapeutics, Inc.*
   
2,061,772
     
23,071,229
 
Horizon Pharma PLC*
   
1,805,886
     
31,837,770
 
Zogenix, Inc.*
   
693,531
     
39,357,884
 
Professional services - 0.4%
         
WageWorks, Inc.*
   
368,864
     
19,476,019
 
Road & rail - 1.2%
         
Landstar System, Inc.
   
583,979
     
64,909,266
 
Semiconductors & semiconductor equipment - 2.2%
         
Entegris, Inc.
   
2,077,267
     
73,015,935
 
Silicon Laboratories, Inc.*
   
345,467
     
32,905,732
 
Veeco Instruments, Inc.*
   
1,179,090
     
17,273,668
 
 

Software - 11.3%
         
Ellie Mae, Inc.*
   
355,896
     
35,312,001
 
Guidewire Software, Inc.*
   
711,923
     
61,367,762
 
Imperva, Inc.*
   
694,420
     
32,116,925
 
Manhattan Associates, Inc.*
   
785,826
     
37,813,947
 
Pegasystems, Inc.
   
1,065,831
     
59,260,204
 
Proofpoint, Inc.*
   
486,515
     
55,487,036
 
PTC, Inc.*
   
983,788
     
90,419,955
 
RealPage, Inc.*
   
1,568,452
     
86,421,705
 
Tableau Software, Inc., Class A*
   
483,098
     
49,792,911
 
Take-Two Interactive Software, Inc.*
   
512,993
     
57,978,469
 
The Ultimate Software Group, Inc.*
   
236,273
     
65,421,631
 
Specialty retail - 4.3%
         
At Home Group, Inc.*
   
771,896
     
27,996,668
 
Camping World Holdings, Inc., Class A
   
1,253,465
     
27,789,319
 
Floor & Decor Holdings, Inc., Class A*
   
953,632
     
45,535,928
 
Genesco, Inc.*
   
1,321,749
     
53,795,185
 
MarineMax, Inc.*
   
1,861,655
     
34,906,031
 
National Vision Holdings, Inc.*
   
1,193,050
     
48,509,413
 
Textiles, apparel & luxury goods - 1.6%
         
Canada Goose Holdings, Inc.*
   
335,135
     
19,246,803
 
Steven Madden Ltd.
   
1,245,881
     
67,339,868
 
Total common stocks (cost $3,625,636,552)
     
5,303,847,802
 
                 
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 $3,625,779,334) - 95.2%‡
     
5,304,090,396
 
Other assets in excess of liabilities - 4.8%
     
265,428,828
 
Total net assets - 100.0%
   
$
5,569,519,224
 
   
 
*Non-income producing security
     
       
(a) Security is fair valued, using significant unobservable inputs (Level 3), 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 July 31, 2018, the total market value of fair valued and illiquid securities held by the Fund is $242,594, representing 0.0% of the Fund's net assets.
 
       
‡The cost basis of investments for federal income tax purposes at July 31, 2018 was as follows+:
 
Cost of investments
 
$
3,625,779,334
 
Gross unrealized appreciation
   
1,792,163,656
 
Gross unrealized depreciation
   
(113,852,594
)
Net unrealized appreciation (depreciation)
 
$
1,678,311,062
 
         
+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
 
26.5%
Information technology
 
21.4%
Consumer discretionary
 
16.8%
Industrials
 
14.8%
Financials
 
7.0%
Materials
 
3.9%
Energy
 
2.6%
Real estate
 
1.2%
Consumer staples
 
1.0%


Investment Portfolios
       
(UNAUDITED) | 07.31.2018
       
CARILLON SCOUT INTERNATIONAL FUND
       
COMMON STOCKS - 93.2%
 
Shares
   
Value
 
Australia - 7.9%
       
BHP Billiton Ltd., Sponsored ADR
   
190,431
   
$
9,951,924
 
Caltex Australia Ltd.
   
828,063
     
20,032,323
 
CSL Ltd.
   
98,949
     
14,476,835
 
Macquarie Group Ltd.
   
193,251
     
17,631,743
 
Woodside Petroleum Ltd.
   
538,201
     
14,425,582
 
Canada - 1.7%
         
Enbridge, Inc.
   
478,373
     
16,948,755
 
Denmark - 2.6%
         
Novo Nordisk A/S, Sponsored ADR
   
325,387
     
16,194,511
 
Pandora A/S
   
124,386
     
8,832,934
 
France - 8.4%
         
Air Liquide S.A.
   
104,585
     
13,371,562
 
AXA S.A.
   
662,058
     
16,681,911
 
BNP Paribas S.A.
   
260,472
     
16,896,694
 
Dassault Systemes SE
   
54,494
     
8,125,272
 
L'Oreal S.A.
   
44,744
     
10,934,100
 
TOTAL S.A.
   
246,198
     
16,058,277
 
Germany - 10.7%
         
Allianz SE, Sponsored ADR
   
815,882
     
17,994,277
 
BASF SE
   
167,208
     
16,028,238
 
Continental AG
   
64,798
     
14,933,027
 
Fresenius SE & Co. KGaA
   
152,767
     
11,776,518
 
Muenchener Rueckversicherungs-Gesellschaft AG
   
65,947
     
14,613,467
 
SAP SE, Sponsored ADR
   
111,616
     
12,951,921
 
Siemens AG
   
115,687
     
16,327,875
 
Hong Kong - 1.2%
         
AAC Technologies Holdings, Inc.
   
897,713
     
11,536,611
 
Ireland - 2.9%
         
Kerry Group PLC, Class A
   
123,180
     
13,064,415
 
Ryanair Holdings PLC, Sponsored ADR*
   
143,416
     
15,116,046
 
Japan - 14.0%
         
Astellas Pharma, Inc.
   
1,026,116
     
16,736,859
 
FANUC Corp.
   
52,629
     
10,612,159
 
JGC Corp.
   
585,039
     
11,352,274
 
Komatsu Ltd.
   
435,511
     
12,868,530
 
Kubota Corp.
   
861,693
     
14,466,136
 
Nitto Denko Corp.
   
175,436
     
12,728,956
 
ORIX Corp.
   
996,536
     
16,141,389
 
Subaru Corp.
   
569,883
     
16,655,073
 
Sysmex Corp.
   
102,167
     
9,688,118
 
Tokyo Electron Ltd.
   
84,876
     
14,878,767
 
Mexico - 4.2%
         
Grupo Financiero Banorte S.A.B. de C.V., Class O
   
3,258,356
     
22,727,329
 
Wal-Mart de Mexico S.A.B. de C.V., Sponsored ADR
   
615,375
     
17,993,565
 
Norway - 1.8%
         
DNB ASA
   
896,308
     
18,048,726
 
 

Singapore - 1.6%
         
Singapore Telecommunications Ltd.
   
6,507,987
     
15,358,988
 
South Africa - 0.9%
         
MTN Group Ltd.
   
982,990
     
8,551,388
 
Spain - 1.8%
         
Banco Bilbao Vizcaya Argentaria S.A.
   
2,420,915
     
17,734,710
 
Sweden - 3.5%
         
Essity AB, Class B
   
661,784
     
16,554,203
 
Sandvik AB
   
954,128
     
17,446,884
 
Switzerland - 10.3%
         
ABB Ltd.
   
560,705
     
12,871,293
 
Adecco Group AG
   
194,838
     
11,978,100
 
Coca-Cola HBC AG*
   
333,564
     
11,972,227
 
Givaudan S.A.
   
6,429
     
15,048,386
 
Nestle S.A., Sponsored ADR
   
193,749
     
15,792,481
 
Novartis AG, Sponsored ADR
   
163,661
     
13,731,158
 
Roche Holding AG
   
74,972
     
18,416,610
 
Taiwan - 2.5%
         
Largan Precision Co. Ltd.
   
95,500
     
16,080,849
 
MediaTek, Inc.
   
1,000,930
     
8,324,376
 
United Kingdom - 12.1%
         
British American Tobacco PLC
   
252,050
     
13,855,695
 
Compass Group PLC
   
670,920
     
14,430,964
 
Diageo PLC, Sponsored ADR
   
101,458
     
14,941,720
 
Next PLC
   
188,971
     
14,712,134
 
Prudential PLC, Sponsored ADR
   
321,206
     
15,199,468
 
Reckitt Benckiser Group PLC
   
205,052
     
18,280,418
 
Royal Dutch Shell PLC, Class B, Sponsored ADR
   
186,815
     
13,271,338
 
WPP PLC
   
816,509
     
12,771,753
 
United States - 5.1%
         
Aflac, Inc.
   
369,379
     
17,190,899
 
Credicorp Ltd.
   
75,533
     
17,279,684
 
Mettler-Toledo International, Inc.*
   
25,094
     
14,868,446
 
Total common stocks (cost $589,999,159)
     
906,466,871
 
                 
PREFERRED STOCKS - 5.1%
         
Colombia - 1.6%
         
Bancolombia S.A., Sponsored ADR
   
332,143
     
15,248,685
 
Germany - 3.5%
         
Henkel AG & Co. KGaA, Sponsored ADR
   
119,341
     
14,995,793
 
Volkswagen AG
   
106,857
     
19,037,807
 
Total preferred stocks (cost $31,964,897)
     
49,282,285
 
Total investment portfolio (cost $621,964,056) - 98.3%‡
     
955,749,156
 
Other assets in excess of liabilities - 1.7%
     
16,721,015
 
Total net assets - 100.0%
   
$
972,470,171
 
 

ADR - American depository receipt
     
*Non-income producing security
     
       
‡The cost basis of investments for federal income tax purposes at July 31, 2018 was as follows+:
 
     
Cost of investments
 
$
621,964,056
 
Gross unrealized appreciation
   
375,674,743
 
Gross unrealized depreciation
   
(41,889,643
)
Net unrealized appreciation (depreciation)
 
$
333,785,100
 
         
+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
 
23.0%
Consumer staples
 
15.3%
Industrials
 
12.6%
Health care
 
11.9%
Consumer discretionary
 
10.4%
Energy
 
8.3%
Information technology
 
7.4%
Materials
 
6.9%
Telecommunication services
 
2.5%
 
 

Industry allocation
   
Industry
Value
Percent of net assets
Banks
 $      107,935,828
 
11.1%
Insurance
81,680,022
 
8.4%
Oil, gas & consumable fuels
80,736,275
 
8.3%
Pharmaceuticals
65,079,138
 
6.7%
Chemicals
57,177,141
 
5.9%
Machinery
55,393,710
 
5.7%
Household products
49,830,414
 
5.1%
Automobiles
35,692,880
 
3.7%
Food products
28,856,895
 
3.0%
Electronic equipment, instruments & components
27,617,461
 
2.8%
Beverages
26,913,947
 
2.8%
Semiconductors & semiconductor equipment
23,203,143
 
2.4%
Software
21,077,193
 
2.2%
Food & staples retailing
17,993,565
 
1.8%
Capital markets
17,631,743
 
1.8%
Industrial conglomerates
16,327,875
 
1.7%
Diversified financial services
16,141,389
 
1.7%
Diversified telecommunication services
15,358,988
 
1.6%
Airlines
15,116,046
 
1.6%
Auto components
14,933,027
 
1.5%
Life sciences tools & services
14,868,446
 
1.5%
Multiline retail
14,712,134
 
1.5%
Biotechnology
14,476,835
 
1.5%
Hotels, restaurants & leisure
14,430,964
 
1.5%
Tobacco
13,855,695
 
1.4%
Electrical equipment
12,871,293
 
1.3%
Media
12,771,753
 
1.3%
Professional services
11,978,100
 
1.2%
Health care providers & services
11,776,518
 
1.2%
Construction & engineering
11,352,274
 
1.2%
Personal products
10,934,100
 
1.1%
Metals & mining
9,951,924
 
1.0%
Health care equipment & supplies
9,688,118
 
1.0%
Textiles, apparel & luxury goods
8,832,934
 
0.9%
Wireless telecommunication services
8,551,388
 
0.9%


Investment Portfolios
       
(UNAUDITED) | 07.31.2018
       
CARILLON SCOUT MID CAP FUND
       
COMMON STOCKS - 96.7%
 
Shares
   
Value
 
Aerospace & defense - 4.8%
       
Aerojet Rocketdyne Holdings, Inc.*
   
330,075
   
$
11,123,527
 
BWX Technologies, Inc.
   
321,900
     
21,168,144
 
Harris Corp.
   
90,775
     
14,973,336
 
Hexcel Corp.
   
305,975
     
21,115,335
 
Huntington Ingalls Industries, Inc.
   
36,750
     
8,564,588
 
L3 Technologies, Inc.
   
50,800
     
10,893,552
 
Textron, Inc.
   
422,234
     
28,825,915
 
Airlines - 2.7%
         
Alaska Air Group, Inc.
   
286,250
     
17,985,087
 
Southwest Airlines Co.
   
332,550
     
19,341,108
 
Spirit Airlines, Inc.*
   
634,400
     
27,558,336
 
Auto components - 1.0%
         
Lear Corp.
   
87,200
     
15,707,336
 
Tenneco, Inc.
   
171,600
     
7,910,760
 
Automobiles - 0.4%
         
Thor Industries, Inc.
   
101,424
     
9,620,066
 
Banks - 4.4%
         
Citizens Financial Group, Inc.
   
129,292
     
5,143,236
 
First Horizon National Corp.
   
1,833,875
     
32,808,024
 
KeyCorp
   
587,850
     
12,268,429
 
SunTrust Banks, Inc.
   
171,600
     
12,367,212
 
SVB Financial Group*
   
56,400
     
17,364,432
 
Umpqua Holdings Corp.
   
1,174,050
     
25,007,265
 
Beverages - 0.5%
         
Monster Beverage Corp.*
   
204,416
     
12,269,048
 
Biotechnology - 1.4%
         
BioMarin Pharmaceutical, Inc.*
   
140,775
     
14,156,334
 
Incyte Corp.*
   
141,725
     
9,430,382
 
Ionis Pharmaceuticals, Inc.*
   
236,475
     
10,329,228
 
Building products - 0.5%
         
Owens Corning
   
210,775
     
13,114,421
 
Capital markets - 2.3%
         
Affiliated Managers Group, Inc.
   
62,470
     
9,995,825
 
Ameriprise Financial, Inc.
   
47,100
     
6,861,057
 
Evercore, Inc., Class A
   
153,025
     
17,291,825
 
S&P Global, Inc.
   
66,700
     
13,369,348
 
T. Rowe Price Group, Inc.
   
67,721
     
8,064,216
 
 

Chemicals - 2.6%
         
Albemarle Corp.
   
92,150
     
8,680,530
 
Celanese Corp., Class A
   
108,825
     
12,853,320
 
CF Industries Holdings, Inc.
   
379,657
     
16,864,364
 
Huntsman Corp.
   
407,200
     
13,653,416
 
The Chemours Co.
   
210,175
     
9,628,117
 
Communications equipment - 2.1%
         
Arista Networks, Inc.*
   
143,750
     
36,761,187
 
Palo Alto Networks, Inc.*
   
69,725
     
13,823,679
 
Construction & engineering - 0.3%
         
Dycom Industries, Inc.*
   
90,925
     
8,106,873
 
Construction materials - 1.1%
         
Martin Marietta Materials, Inc.
   
84,423
     
16,835,635
 
Vulcan Materials Co.
   
86,100
     
9,643,200
 
Diversified consumer services - 0.7%
         
H&R Block, Inc.
   
709,325
     
17,846,617
 
Diversified financial services - 2.2%
         
Voya Financial, Inc.
   
1,025,400
     
51,803,208
 
Electric utilities - 1.3%
         
Xcel Energy, Inc.
   
680,000
     
31,864,800
 
Electrical equipment - 0.2%
         
Rockwell Automation, Inc.
   
19,275
     
3,615,219
 
Electronic equipment, instruments & components - 1.6%
         
IPG Photonics Corp.*
   
102,500
     
16,814,100
 
Keysight Technologies, Inc.*
   
388,575
     
22,537,350
 
Energy equipment & services - 0.5%
         
Patterson-UTI Energy, Inc.
   
76,500
     
1,315,800
 
TechnipFMC PLC
   
357,975
     
11,652,086
 
Equity real estate investment trusts (REITs) - 7.5%
         
Cousins Properties, Inc.
   
3,092,815
     
28,825,036
 
EPR Properties
   
510,924
     
33,971,337
 
Host Hotels & Resorts, Inc.
   
2,099,284
     
43,959,007
 
Lamar Advertising Co., Class A
   
324,598
     
23,900,151
 
Omega Healthcare Investors, Inc.
   
797,673
     
23,682,911
 
OUTFRONT Media, Inc.
   
1,195,831
     
25,411,409
 
Food & staples retailing - 0.7%
         
Casey's General Stores, Inc.
   
162,050
     
17,725,029
 
Food products - 1.0%
         
Hormel Foods Corp.
   
434,125
     
15,615,476
 
Tyson Foods, Inc., Class A
   
138,700
     
7,996,055
 
Gas utilities - 3.0%
         
Atmos Energy Corp.
   
525,074
     
48,238,549
 
ONE Gas, Inc.
   
305,956
     
23,570,850
 
 

Health care equipment & supplies - 4.5%
         
ABIOMED, Inc.*
   
163,100
     
57,823,843
 
Align Technology, Inc.*
   
55,050
     
19,633,582
 
Edwards Lifesciences Corp.*
   
130,575
     
18,600,409
 
Teleflex, Inc.
   
40,825
     
11,133,386
 
Health care providers & services - 0.9%
         
Humana, Inc.
   
26,992
     
8,480,346
 
Molina Healthcare, Inc.*
   
126,397
     
13,156,664
 
Health care technology - 0.4%
         
Veeva Systems, Inc., Class A*
   
125,700
     
9,506,691
 
Hotels, restaurants & leisure - 4.9%
         
Chipotle Mexican Grill, Inc.*
   
10,813
     
4,689,166
 
Cracker Barrel Old Country Store, Inc.
   
67,875
     
9,943,348
 
Darden Restaurants, Inc.
   
237,075
     
25,352,800
 
Hilton Grand Vacations, Inc.*
   
328,675
     
11,368,868
 
Royal Caribbean Cruises Ltd.
   
197,575
     
22,278,557
 
Six Flags Entertainment Corp.
   
256,000
     
16,627,200
 
Texas Roadhouse, Inc.
   
192,569
     
12,101,036
 
Vail Resorts, Inc.
   
52,550
     
14,549,519
 
Household durables - 0.7%
         
Garmin Ltd.
   
95,700
     
5,976,465
 
NVR, Inc.*
   
3,759
     
10,372,697
 
Household products - 0.7%
         
The Clorox Co.
   
129,350
     
17,484,240
 
Insurance - 5.3%
         
Arch Capital Group Ltd.*
   
288,300
     
8,810,448
 
Everest Re Group Ltd.
   
109,050
     
23,811,068
 
Lincoln National Corp.
   
267,350
     
18,206,535
 
The Hanover Insurance Group, Inc.
   
198,950
     
24,952,309
 
The Hartford Financial Services Group, Inc.
   
373,925
     
19,705,847
 
White Mountains Insurance Group Ltd.
   
18,450
     
16,845,404
 
W.R. Berkley Corp.
   
209,325
     
15,868,928
 
Internet & direct marketing retail - 0.5%
         
Expedia Group, Inc.
   
86,000
     
11,510,240
 
Internet software & services - 1.0%
         
eBay, Inc.*
   
115,300
     
3,856,785
 
IAC/InterActiveCorp*
   
88,550
     
13,038,988
 
Match Group, Inc.*
   
227,625
     
8,221,815
 
IT services - 5.0%
         
DXC Technology Co.
   
759,175
     
64,332,489
 
Fiserv, Inc.*
   
137,025
     
10,342,647
 
Jack Henry & Associates, Inc.
   
101,350
     
13,651,845
 
Paychex, Inc.
   
259,975
     
17,943,475
 
Science Applications International Corp.
   
174,458
     
14,719,021
 
Leisure products - 0.4%
         
Polaris Industries, Inc.
   
85,450
     
9,008,139
 
 

Life sciences tools & services - 0.5%
         
Illumina, Inc.*
   
36,175
     
11,733,723
 
Machinery - 2.3%
         
AGCO Corp.
   
180,025
     
11,345,175
 
Allison Transmission Holdings, Inc.
   
392,475
     
18,446,325
 
The Timken Co.
   
230,675
     
11,360,744
 
Xylem, Inc.
   
200,900
     
15,380,904
 
Media - 0.9%
         
Live Nation Entertainment, Inc.*
   
219,675
     
10,825,584
 
The Madison Square Garden Co., Class A*
   
36,169
     
11,291,238
 
Metals & mining - 1.8%
         
Newmont Mining Corp.
   
571,075
     
20,947,031
 
Steel Dynamics, Inc.
   
449,575
     
21,170,487
 
Multiline retail - 0.1%
         
Big Lots, Inc.
   
62,175
     
2,700,260
 
Multi-utilities - 2.0%
         
CMS Energy Corp.
   
994,000
     
48,049,960
 
Oil, gas & consumable fuels - 5.3%
         
Andeavor
   
157,700
     
23,664,462
 
Devon Energy Corp.
   
325,700
     
14,659,757
 
Marathon Petroleum Corp.
   
97,850
     
7,909,215
 
Newfield Exploration Co.*
   
1,564,867
     
44,942,980
 
Parsley Energy, Inc., Class A*
   
221,425
     
6,959,388
 
WPX Energy, Inc.*
   
1,512,800
     
28,395,256
 
Pharmaceuticals - 1.1%
         
Nektar Therapeutics*
   
305,000
     
16,043,000
 
Supernus Pharmaceuticals, Inc.*
   
173,850
     
9,205,358
 
Professional services - 0.6%
         
Robert Half International, Inc.
   
197,875
     
14,991,010
 
Road & rail - 1.5%
         
AMERCO
   
28,750
     
10,841,050
 
Norfolk Southern Corp.
   
83,550
     
14,119,950
 
Old Dominion Freight Line, Inc.
   
70,025
     
10,279,670
 
Semiconductors & semiconductor equipment - 2.3%
         
Advanced Micro Devices, Inc.*
   
1,203,825
     
22,066,112
 
Analog Devices, Inc.
   
38,425
     
3,694,179
 
KLA-Tencor Corp.
   
44,700
     
5,248,674
 
Skyworks Solutions, Inc.
   
119,553
     
11,307,323
 
Universal Display Corp.
   
76,200
     
7,338,060
 
Xilinx, Inc.
   
80,725
     
5,817,851
 
 

Software - 3.0%
         
Aspen Technology, Inc.*
   
139,600
     
13,372,284
 
Ellie Mae, Inc.*
   
33,925
     
3,366,038
 
Proofpoint, Inc.*
   
73,050
     
8,331,352
 
Red Hat, Inc.*
   
62,425
     
8,816,283
 
ServiceNow, Inc.*
   
63,550
     
11,182,258
 
Splunk, Inc.*
   
123,725
     
11,889,973
 
Take-Two Interactive Software, Inc.*
   
135,325
     
15,294,432
 
Specialty retail - 2.8%
         
American Eagle Outfitters, Inc.
   
609,800
     
15,354,764
 
Best Buy Co., Inc.
   
206,575
     
15,499,322
 
O'Reilly Automotive, Inc.*
   
42,075
     
12,874,950
 
Ross Stores, Inc.
   
218,250
     
19,081,598
 
Ulta Beauty, Inc.*
   
21,525
     
5,260,495
 
Technology hardware, storage & peripherals - 0.3%
         
Pure Storage, Inc., Class A*
   
330,075
     
7,149,425
 
Textiles, apparel & luxury goods - 1.4%
         
PVH Corp.
   
55,125
     
8,462,790
 
Ralph Lauren Corp.
   
82,600
     
11,149,348
 
Skechers U.S.A., Inc., Class A*
   
499,275
     
13,839,903
 
Thrifts & mortgage finance - 0.5%
         
LendingTree, Inc.*
   
53,175
     
12,698,190
 
Trading companies & distributors - 1.3%
         
United Rentals, Inc.*
   
119,500
     
17,781,600
 
W.W. Grainger, Inc.
   
40,461
     
14,022,164
 
Water utilities - 1.0%
         
American Water Works Co., Inc.
   
259,600
     
22,909,700
 
Wireless telecommunication services - 0.9%
         
Sprint Corp.*
   
4,043,399
     
21,955,657
 
Total common stocks (cost $1,969,443,006)
     
2,326,754,735
 
Total investment portfolio (cost $1,969,443,006) - 96.7%‡
     
2,326,754,735
 
Other assets in excess of liabilities - 3.3%
     
80,000,038
 
Total net assets - 100.0%
   
$
2,406,754,773
 
 
*Non-income producing security
     
       
‡The cost basis of investments for federal income tax purposes at July 31, 2018 was as follows+:
 
Cost of investments
 
$
1,969,443,006
 
Gross unrealized appreciation
   
392,986,090
 
Gross unrealized depreciation
   
(35,674,361
)
Net unrealized appreciation (depreciation)
 
$
357,311,729
 
         
+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
 
15.4%
Financials
 
14.7%
Industrials
 
14.3%
Consumer discretionary
 
13.8%
Health care
 
8.7%
Real estate
 
7.5%
Utilities
 
7.3%
Energy
 
5.8%
Materials
 
5.4%
Consumer staples
 
2.9%
Telecommunication services
 
0.9%
 


Investment Portfolios
       
(UNAUDITED) | 07.31.2018
       
CARILLON SCOUT SMALL CAP FUND
       
COMMON STOCKS - 99.4%
 
Shares
   
Value
 
Aerospace & defense - 3.9%
       
Astronics Corp.*
   
106,640
   
$
4,373,307
 
Teledyne Technologies, Inc.*
   
39,227
     
8,607,188
 
Air freight & logistics - 0.4%
         
Radiant Logistics, Inc.*
   
315,810
     
1,260,082
 
Automobiles - 1.6%
         
Thor Industries, Inc.
   
55,533
     
5,267,305
 
Banks - 0.8%
         
Hilltop Holdings, Inc.
   
131,260
     
2,730,208
 
Biotechnology - 2.2%
         
Eagle Pharmaceuticals, Inc.*
   
41,600
     
3,296,800
 
Genomic Health, Inc.*
   
74,241
     
3,985,257
 
Capital markets - 1.4%
         
Cohen & Steers, Inc.
   
114,390
     
4,791,797
 
Chemicals - 1.7%
         
Balchem Corp.
   
55,381
     
5,554,160
 
Commercial services & supplies - 1.0%
         
Healthcare Services Group, Inc.
   
85,662
     
3,448,752
 
Construction & engineering - 1.9%
         
Dycom Industries, Inc.*
   
70,819
     
6,314,222
 
Consumer finance - 2.2%
         
Green Dot Corp., Class A*
   
52,052
     
4,128,765
 
PRA Group, Inc.*
   
85,113
     
3,336,429
 
Electronic equipment, instruments & components - 5.7%
         
ePlus, Inc.*
   
76,417
     
7,538,537
 
Fabrinet*
   
75,712
     
2,961,853
 
II-VI, Inc.*
   
160,688
     
6,298,970
 
nLight, Inc.*
   
9,585
     
292,630
 
Plexus Corp.*
   
32,346
     
1,921,999
 
Energy equipment & services - 0.3%
         
Geospace Technologies Corp.*
   
69,267
     
974,587
 
Equity real estate investment trusts (REITs) - 1.2%
         
CareTrust REIT, Inc.
   
130,787
     
2,211,608
 
QTS Realty Trust, Inc., Class A
   
44,535
     
1,903,871
 
Food & staples retailing - 1.6%
         
Performance Food Group Co.*
   
146,810
     
5,263,138
 
Health care equipment & supplies - 4.9%
         
Cutera, Inc.*
   
84,533
     
3,381,320
 
ICU Medical, Inc.*
   
33,784
     
9,689,251
 
Varex Imaging Corp.*
   
83,287
     
3,184,895
 
 

Health care providers & services - 11.5%
         
AMN Healthcare Services, Inc.*
   
104,249
     
6,307,064
 
BioTelemetry, Inc.*
   
135,683
     
7,123,357
 
HealthEquity, Inc.*
   
73,230
     
5,528,865
 
LHC Group, Inc.*
   
57,721
     
4,968,601
 
Molina Healthcare, Inc.*
   
62,330
     
6,487,930
 
U.S. Physical Therapy, Inc.
   
75,217
     
7,878,981
 
Health care technology - 3.6%
         
HMS Holdings Corp.*
   
146,426
     
3,503,974
 
Omnicell, Inc.*
   
141,205
     
8,401,698
 
Hotels, restaurants & leisure - 3.6%
         
Cracker Barrel Old Country Store, Inc.
   
39,725
     
5,819,514
 
Lindblad Expeditions Holdings, Inc.*
   
175,808
     
2,327,698
 
The Cheesecake Factory, Inc.
   
66,067
     
3,701,734
 
Household durables - 3.4%
         
Installed Building Products, Inc.*
   
76,234
     
4,162,377
 
iRobot Corp.*
   
54,229
     
4,297,648
 
LGI Homes, Inc.*
   
56,673
     
2,929,427
 
Insurance - 1.0%
         
CNO Financial Group, Inc.
   
167,022
     
3,398,898
 
Internet & direct marketing retail - 0.8%
         
PetMed Express, Inc.
   
76,500
     
2,840,445
 
Internet software & services - 6.8%
         
Carbonite, Inc.*
   
181,209
     
6,215,469
 
Envestnet, Inc.*
   
89,311
     
5,233,624
 
j2 Global, Inc.
   
77,408
     
6,567,295
 
The Trade Desk, Inc., Class A*
   
55,265
     
4,659,945
 
IT services - 1.5%
         
Acxiom Corp.*
   
39,306
     
1,593,465
 
Virtusa Corp.*
   
65,494
     
3,460,048
 
Life sciences tools & services - 5.6%
         
Bruker Corp.
   
178,460
     
5,782,104
 
Cambrex Corp.*
   
85,106
     
5,319,125
 
PRA Health Sciences, Inc.*
   
70,870
     
7,451,272
 
Machinery - 4.8%
         
Albany International Corp., Class A
   
67,428
     
4,460,362
 
Chart Industries, Inc.*
   
49,794
     
3,888,414
 
Proto Labs, Inc.*
   
60,436
     
7,533,347
 
Metals & mining - 0.6%
         
Carpenter Technology Corp.
   
35,588
     
1,949,155
 
Oil, gas & consumable fuels - 0.4%
         
Gulfport Energy Corp.*
   
105,094
     
1,209,632
 
Pharmaceuticals - 3.1%
         
Amneal Pharmaceuticals, Inc.*
   
100,955
     
1,935,307
 
Supernus Pharmaceuticals, Inc.*
   
155,348
     
8,225,677
 
 

Professional services - 4.5%
         
InnerWorkings, Inc.*
   
389,024
     
3,446,753
 
Insperity, Inc.
   
76,286
     
7,254,799
 
WageWorks, Inc.*
   
82,445
     
4,353,096
 
Semiconductors & semiconductor equipment - 7.1%
         
Ambarella, Inc.*
   
68,813
     
2,696,093
 
Entegris, Inc.
   
108,971
     
3,830,331
 
Impinj, Inc.*
   
85,033
     
1,812,053
 
Inphi Corp.*
   
67,114
     
2,110,064
 
Power Integrations, Inc.
   
54,908
     
3,925,922
 
Semtech Corp.*
   
152,668
     
7,244,096
 
Veeco Instruments, Inc.*
   
133,404
     
1,954,369
 
Software - 2.8%
         
Pegasystems, Inc.
   
98,633
     
5,483,995
 
The Descartes Systems Group, Inc.*
   
123,210
     
3,930,399
 
Specialty retail - 2.6%
         
Camping World Holdings, Inc., Class A
   
78,104
     
1,731,566
 
Monro, Inc.
   
101,529
     
6,848,131
 
Technology hardware, storage & peripherals - 0.9%
         
Electronics For Imaging, Inc.*
   
90,066
     
3,073,052
 
Textiles, apparel & luxury goods - 1.1%
         
G-III Apparel Group Ltd.*
   
78,877
     
3,604,679
 
Thrifts & mortgage finance - 2.9%
         
BofI Holding, Inc.*
   
122,641
     
4,785,452
 
LendingTree, Inc.*
   
20,137
     
4,808,715
 
Total common stocks (cost $209,083,386)
     
330,772,948
 
Total investment portfolio (cost $209,083,386) - 99.4%‡
     
330,772,948
 
Other assets in excess of liabilities - 0.6%
     
2,015,049
 
Total net assets - 100.0%
   
$
332,787,997
 
                 
 
*Non-income producing security
     
       
‡The cost basis of investments for federal income tax purposes at July 31, 2018 was as follows+:
 
Cost of investments
 
$
209,083,386
 
Gross unrealized appreciation
   
131,705,915
 
Gross unrealized depreciation
   
(10,016,353
)
Net unrealized appreciation (depreciation)
 
$
121,689,562
 
         
+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
 
30.8%
Information technology
 
24.9%
Industrials
 
16.5%
Consumer discretionary
 
13.1%
Financials
 
8.4%
Materials
 
2.2%
Consumer staples
 
1.6%
Real estate
 
1.2%
Energy
 
0.7%
 


Investment Portfolios
       
(UNAUDITED) | 07.31.2018
           
CARILLON REAMS CORE BOND FUND
       
CORPORATE BONDS - 22.9%
 
Principal Amount
   
Value
 
Airlines - 1.7%
       
American Airlines, Pass Through Trust,
           
   Series 2011-1, Class A, 5.25%, 07/31/22
 
$
263,372
   
$
272,168
 
   Series 2013-1, Class A, 4.00%, 01/15/27
   
528,592
     
527,201
 
   Series 2013-2, Class A, 4.95%, 07/15/24
   
249,899
     
256,912
 
Delta Air Lines, Pass Through Trust, Series 2007-1, Class A, 6.82%, 02/10/24
   
501,269
     
544,504
 
Northwest Airlines, Pass Through Trust, Series 2007-1, Class A, 7.03%, 05/01/21
   
361,699
     
376,456
 
Auto manufacturers - 4.4%
         
Daimler Finance North America LLC,
               
    144A, 1.75%, 10/30/19  (a)
   
675,000
     
664,087
 
    144A, 2.30%, 01/06/20  (a)
   
880,000
     
867,480
 
    144A, 3.35%, 05/04/21  (a)
   
1,080,000
     
1,074,299
 
Ford Motor Credit Co. LLC,
               
    2.55%, 10/05/18
   
555,000
     
555,028
 
    2.88%, 10/01/18
   
2,045,000
     
2,046,579
 
Banks - 7.3%
         
Bank of America Corp., 3.50%, 04/19/26
   
595,000
     
576,591
 
Bank of America NA, 2.05%, 12/07/18
   
390,000
     
389,618
 
Citibank NA, 3.40%, 07/23/21
   
895,000
     
894,178
 
JPMorgan Chase & Co.,
               
   2.55%, 03/01/21
   
540,000
     
530,155
 
   2.75%, 06/23/20
   
470,000
     
466,548
 
   (3 Month LIBOR USD + 0.55%), 2.88%, 03/09/21
   
1,880,000
     
1,886,129
 
UBS AG, 144A, 2.45%, 12/01/20  (a)
   
415,000
     
405,870
 
U.S. Bank NA, 3.15%, 04/26/21
   
1,130,000
     
1,126,730
 
Wells Fargo & Co., 2.60%, 07/22/20
               
   2.60%, 07/22/20
   
795,000
     
786,476
 
   (3 Month LIBOR USD + 1.23%), 3.57%, 10/31/23
   
1,475,000
     
1,506,712
 
Chemicals - 0.3%
         
The Sherwin-Williams Co., 2.25%, 05/15/20
   
415,000
     
408,732
 
Consumer finance - 1.2%
         
American Express Co., 2.20%, 10/30/20
   
665,000
     
650,173
 
American Express Credit Corp.,
               
   1.88%, 05/03/19
   
95,000
     
94,508
 
   2.60%, 09/14/20
   
705,000
     
696,947
 
Diversified telecommunication services - 0.4%
         
AT&T, Inc.,
               
   3.80%, 03/01/24
   
280,000
     
277,292
 
   4.25%, 03/01/27
   
245,000
     
242,444
 
Food products - 0.1%
         
Campbell Soup Co., (3 Month LIBOR USD + 0.63%), 2.97%, 03/15/21
   
90,000
     
90,138
 
Health care equipment & supplies - 0.1%
         
Abbott Laboratories, 2.35%, 11/22/19
   
115,000
     
114,285
 
Health care providers & services - 0.4%
         
CVS Health Corp., 3.70%, 03/09/23
   
460,000
     
457,120
 
Insurance - 4.6%
         
American International Group, Inc., 6.40%, 12/15/20
   
535,000
     
572,363
 
Jackson National Life Global Funding, (3 Month LIBOR USD + 0.30%), 144A, 2.64%, 04/27/20  (a)
   
2,080,000
     
2,079,917
 
MassMutual Global Funding II, 144A, 1.95%, 09/22/20  (a)
   
1,075,000
     
1,045,445
 
Metropolitan Life Global Funding I, (3 Month LIBOR USD + 0.23%), 144A, 2.57%, 01/08/21  (a)
   
1,275,000
     
1,275,980
 
Reliance Standard Life Global Funding II, 144A, 2.50%, 01/15/20  (a)
   
385,000
     
380,651
 
 

Tobacco - 0.7%
         
Philip Morris International, Inc., 2.00%, 02/21/20
   
850,000
     
837,484
 
Transportation - 1.7%
         
Burlington Northern and Santa Fe Railway Co., Pass Through Trust,
               
   Series 2001-2, 6.46%, 01/15/21
   
120,194
     
124,852
 
   Series 2004-1, 4.58%, 01/15/21
   
245,510
     
248,500
 
CSX Transportation, Inc., 6.25%, 01/15/23
   
226,287
     
244,231
 
Union Pacific Railroad Co., Pass Through Trust,
               
   Series 2004, 5.40%, 07/02/25
   
291,454
     
300,021
 
   Series 2005, 5.08%, 01/02/29
   
560,928
     
588,651
 
   Series 2006, 5.87%, 07/02/30
   
456,183
     
493,679
 
Total corporate bonds (cost $27,072,817)
     
26,977,134
 
                 
MORTGAGE AND ASSET-BACKED SECURITIES - 25.7%
         
Asset-backed securities - 1.0%
         
Hertz Vehicle Financing II LP, Series 2015-2A, Class A, 144A, 2.02%, 09/25/19  (a)
   
1,155,000
     
1,153,684
 
Commercial mortgage-backed securities - 3.1%
         
CFCRE Commercial Mortgage Trust, Series 2016-C3, Class A3, 3.87%, 01/10/48
   
800,000
     
802,893
 
COMM Mortgage Trust, Series 2013-CCRE9, Class ASB, 3.83%, 07/12/45
   
629,996
     
639,174
 
GS Mortgage Securities Trust,
               
   Series 2012-GCJ7, Class A4, 3.38%, 05/12/45
   
890,449
     
892,345
 
   Series 2013-GC14, Class AAB, 3.82%, 08/10/46
   
355,000
     
359,671
 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C26, Class A3, 3.21%, 10/19/48
   
955,000
     
934,143
 
Federal agency mortgage-backed obligations - 21.6%
         
Fannie Mae Pool,
               
   Series 1313, Class MA, 2.00%, 01/01/23
   
302,024
     
294,002
 
   Series 1671, Class AM, 2.10%, 12/01/27
   
990,256
     
926,430
 
   Series 2182, Class AM, 2.16%, 01/01/23
   
1,288,704
     
1,238,520
 
   Series 2822, Class AB, 2.50%, 03/01/26
   
248,662
     
243,450
 
   Series 5796, Class AN, 3.03%, 06/01/27
   
355,000
     
342,692
 
   Series 6090, Class AB, 2.50%, 09/01/22
   
312,587
     
309,214
 
   Series 8539, Class AL, 4.50%, 01/01/27
   
10,135
     
10,212
 
   Series 8744, Class AB, 2.00%, 03/01/23
   
124,538
     
120,309
 
   Series 8874, Class AB, 2.00%, 04/01/23
   
126,206
     
122,844
 
   Series 9180, Class AB, 2.00%, 05/01/23
   
374,904
     
364,917
 
   Series 9550, Class AL, 2.50%, 07/01/25
   
382,599
     
379,524
 
   Series 387770, 3.63%, 07/01/28
   
455,000
     
458,097
 
   Series 465468, 3.33%, 07/01/20
   
301,311
     
302,494
 
   TBA, 3.00%, 09/15/48
   
5,895,000
     
5,676,355
 
   TBA, 3.50%, 09/15/48
   
5,990,000
     
5,929,744
 
Fannie Mae-Aces,
               
   Series 2013-M14, Class A, 1.70%, 08/25/18
   
223,884
     
223,502
 
   Series 2014-M13, Class AB2, VR, 2.95%, 08/25/24
   
253,047
     
247,615
 
   Series 2015-M11, Class A1, 2.10%, 04/25/25
   
245,987
     
243,781
 
   Series 2016-M2, Class ABV2, 2.13%, 01/25/23
   
522,611
     
501,648
 
   Series 2016-M3, Class ASQ2, 2.26%, 02/25/23
   
1,080,000
     
1,042,512
 
   Series 2016-M6, Class AB2, 2.40%, 05/25/26
   
1,005,000
     
939,383
 
   Series 2016-M7, Class AV2, 2.16%, 10/25/23
   
2,495,000
     
2,388,963
 
Freddie Mac Gold Pool,
               
   Series 14074, Class G, 4.50%, 08/01/18
   
2,281
     
2,300
 
   Series 14075, Class G, 4.50%, 08/01/18
   
4,960
     
5,001
 
   Series 14660, Class G, 2.00%, 01/01/28
   
1,069,738
     
1,020,327
 
   Series 15226, Class G, 4.50%, 08/01/20
   
94,044
     
94,898
 
Freddie Mac REMIC,
               
   Series 3609, Class LA, 4.00%, 12/15/24
   
19,449
     
19,512
 
   Series 4233, Class MD, 1.75%, 03/15/25
   
59,232
     
58,973
 
Ginnie Mae I Pool,
               
   Series 0091, Class AD, 2.73%, 06/15/32
   
1,373,499
     
1,315,864
 
   Series 2583, Class AB, 2.14%, 08/15/23
   
622,673
     
598,723
 
Total mortgage and asset-backed securities (cost $30,803,157)
     
30,203,716
 
 

 
U.S. TREASURIES - 55.8%
         
U.S. Treasury Bonds,
               
   2.75%, 08/15/47
   
11,255,000
     
10,539,692
 
   2.75%, 11/15/47
   
1,770,000
     
1,657,024
 
U.S. Treasury Notes,
               
   1.25%, 10/31/21
   
13,725,000
     
13,071,454
 
   1.38%, 09/30/20
   
1,260,000
     
1,225,104
 
   1.63%, 10/31/23
   
11,510,000
     
10,818,501
 
   2.25%, 11/15/27
   
13,230,000
     
12,470,308
 
   2.50%, 01/31/25
   
7,195,000
     
7,019,622
 
   2.88%, 04/30/25
   
8,870,000
     
8,845,746
 
Total U.S. Treasuries (cost $66,721,599)
     
65,647,451
 
                 
SHORT-TERM INVESTMENTS - 1.0%
         
Auto manufacturers - 1.0%
         
Ford Motor Credit Co. LLC, Commerical paper, 144A, 0.00%, 04/15/19 (a)
   
1,185,000
     
1,161,714
 
Total short-term investments (cost $1,159,114)
     
1,161,714
 
Total investment portfolio (cost $125,756,687) - 105.4%‡
     
123,990,015
 
Liabilities in excess of other assets - (5.4)%
     
(6,370,777
)
Total net assets - 100.0%
   
$
117,619,238
 
 
 
(a) Restricted securities deemed to be liquid for purpose of compliance limitations on holdings of illiquid securities. At July 31, 2018, these securities aggregated $10,109,127 or 8.6% 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 July 31, 2018 was as follows+:
     
Cost of investments
 
$
125,756,687
 
Gross unrealized appreciation
   
175,079
 
Gross unrealized depreciation
   
(1,941,751
)
Net unrealized appreciation (depreciation)
 
$
(1,766,672
)
         
+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) | 07.31.2018
           
CARILLON REAMS CORE PLUS BOND FUND
       
CORPORATE BONDS - 20.3%
 
Principal Amount
   
Value
 
Airlines - 1.3%
       
American Airlines, Pass Through Trust,
           
   Series 2011-1, Class A, 5.25%, 07/31/22
 
$
926,504
   
$
957,450
 
   Series 2013-1, Class A, 4.00%, 01/15/27
   
104,969
     
104,693
 
   Series 2013-2, Class A, 4.95%, 07/15/24
   
1,342,793
     
1,380,472
 
Delta Air Lines, Pass Through Trust, Series 2007-1, Class A, 6.82%, 02/10/24
   
788,042
     
856,010
 
Northwest Airlines, Pass Through Trust, Series 2007-1, Class A, 7.03%, 05/01/21
   
2,513,021
     
2,615,552
 
US Airways, Pass Through Trust,
               
   Series 2011-1, Class A, 7.13%, 04/22/25
   
811,788
     
899,380
 
   Series 2012-1, Class A, 5.90%, 04/01/26
   
1,935,733
     
2,075,512
 
Auto manufacturers - 3.0%
         
Daimler Finance North America LLC,
               
   144A, 1.75%, 10/30/19 (a)
   
1,780,000
     
1,751,223
 
   144A, 2.00%, 08/03/18 (a)
   
4,350,000
     
4,349,945
 
   144A, 2.30%, 01/06/20 (a)
   
4,830,000
     
4,761,280
 
   144A, 3.35%, 05/04/21 (a)
   
6,340,000
     
6,306,535
 
Ford Motor Credit Co. LLC, 2.55%, 10/05/18
   
2,800,000
     
2,800,140
 
Banks - 6.4%
         
Bank of America Corp., 3.50%, 04/19/26
   
3,060,000
     
2,965,323
 
Bank of America NA, 2.05%, 12/07/18
   
1,490,000
     
1,488,541
 
Citibank NA, 3.40%, 07/23/21
   
4,950,000
     
4,945,456
 
JPMorgan Chase & Co.,
               
   2.55%, 03/01/21
   
2,835,000
     
2,783,314
 
   2.75%, 06/23/20
   
2,445,000
     
2,427,045
 
   (3 Month LIBOR USD + 0.55%), 2.88%, 03/09/21
   
7,145,000
     
7,168,293
 
   3.25%, 09/23/22
   
1,780,000
     
1,768,288
 
UBS AG, 144A, 2.45%, 12/01/20 (a)
   
2,600,000
     
2,542,800
 
U.S. Bank NA, 3.15%, 04/26/21
   
6,660,000
     
6,640,725
 
Wells Fargo & Co.
               
   2.60%, 07/22/20
   
3,877,000
     
3,835,429
 
   (3 Month LIBOR USD + 1.23%), 3.57%, 10/31/23
   
6,390,000
     
6,527,385
 
Chemicals - 0.3%
         
The Sherwin-Williams Co., 2.25%, 05/15/20
   
1,950,000
     
1,920,548
 
Consumer finance - 1.5%
         
Ally Financial, Inc., 3.25%, 11/05/18
   
2,440,000
     
2,438,170
 
American Express Co., 2.20%, 10/30/20
   
3,230,000
     
3,157,985
 
American Express Credit Corp.,
               
   1.88%, 05/03/19
   
1,920,000
     
1,910,052
 
   2.60%, 09/14/20
   
2,915,000
     
2,881,701
 
Diversified telecommunication services - 0.5%
         
AT&T, Inc.,
               
   3.80%, 03/01/24
   
1,445,000
     
1,431,023
 
   4.25%, 03/01/27
   
2,170,000
     
2,147,365
 
Food products - 0.1%
         
Campbell Soup Co., (3 Month LIBOR USD + 0.63%), 2.97%, 03/15/21
   
545,000
     
545,838
 
Health care equipment & supplies - 0.1%
         
Abbott Laboratories, 2.35%, 11/22/19
   
503,000
     
499,871
 
Health care providers & services - 0.4%
         
CVS Health Corp., 3.70%, 03/09/23
   
2,750,000
     
2,732,783
 
Insurance - 5.7%
         
American International Group, Inc., 6.40%, 12/15/20
   
3,175,000
     
3,396,732
 
Jackson National Life Global Funding, (3 Month LIBOR USD + 0.30%), 144A, 2.64%, 04/27/20 (a)
   
12,265,000
     
12,264,507
 
 

MassMutual Global Funding II, 144A, 1.95%, 09/22/20 (a)
   
5,920,000
     
5,757,243
 
Metropolitan Life Global Funding I,
               
  144A, 1.35%, 09/14/18 (a)
   
7,520,000
     
7,511,137
 
   (3 Month LIBOR USD + 0.23%), 144A, 2.57%, 01/08/21 (a)
   
7,515,000
     
7,520,778
 
Reliance Standard Life Global Funding II, 144A, 2.50%, 01/15/20 (a)
   
2,050,000
     
2,026,841
 
Oil, gas & consumable fuels - 0.3%
         
Energy Transfer Partners LP, 4.05%, 03/15/25
   
2,205,000
     
2,152,337
 
Tobacco - 0.6%
         
Philip Morris International, Inc., 2.00%, 02/21/20
   
4,130,000
     
4,069,187
 
Transportation - 0.1%
         
Burlington Northern and Santa Fe Railway Co., Pass Through Trust,
               
   Series 2001-2, 6.46%, 01/15/21
   
374,559
     
389,074
 
   Series 2005-4, 4.97%, 04/01/23
   
355,680
     
368,535
 
Total corporate bonds (cost $137,042,487)
     
137,072,498
 
                 
MORTGAGE AND ASSET-BACKED SECURITIES - 23.2%
         
Asset-backed securities - 0.8%
         
Hertz Vehicle Financing II LP, Series 2015-2A, Class A, 144A, 2.02%, 09/25/19 (a)
   
4,165,000
     
4,160,255
 
Home Equity Loan Trust, Series 2006-HSA2, Class AI3, VR, 5.55%, 11/25/27
   
362,384
     
195,636
 
RFMSII Trust, Series 2006-HSA1, Class A4, SB, 5.99%, 02/25/36
   
815,429
     
795,462
 
Commercial mortgage-backed securities - 3.1%
         
CFCRE Commercial Mortgage Trust, Series 2016-C3, Class A3, 3.87%, 01/10/48
   
5,600,000
     
5,620,249
 
COMM Mortgage Trust, Series 2013-CCRE9, Class ASB, 3.83%, 07/12/45
   
3,999,973
     
4,058,248
 
GS Mortgage Securities Trust,
               
   Series 2012-GCJ7, Class A4, 3.38%, 05/12/45
   
4,728,752
     
4,738,819
 
   Series 2013-GC14, Class AAB, 3.82%, 08/10/46
   
2,235,000
     
2,264,410
 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C26, Class A3, 3.21%, 10/19/48
   
4,075,000
     
3,986,002
 
Federal agency mortgage-backed obligations - 19.3%
         
Fannie Mae Pool,
               
   Series 1313, Class MA, 2.00%, 01/01/23
   
1,315,053
     
1,280,121
 
   Series 1500, Class MA, 2.00%, 07/01/23
   
1,148,148
     
1,124,323
 
   Series 1671, Class AM, 2.10%, 12/01/27
   
1,918,621
     
1,794,959
 
   Series 2182, Class AM, 2.16%, 01/01/23
   
6,602,949
     
6,345,817
 
   Series 2822, Class AB, 2.50%, 03/01/26
   
518,550
     
507,683
 
   Series 5796, Class AN, 3.03%, 06/01/27
   
2,045,000
     
1,974,100
 
   Series 6090, Class AB, 2.50%, 09/01/22
   
1,491,735
     
1,475,637
 
   Series 8539, Class AL, 4.50%, 01/01/27
   
44,698
     
45,040
 
   Series 8744, Class AB, 2.00%, 03/01/23
   
547,076
     
528,499
 
   Series 8874, Class AB, 2.00%, 04/01/23
   
554,145
     
539,382
 
   Series 9180, Class AB, 2.00%, 05/01/23
   
1,752,018
     
1,705,345
 
   Series 9550, Class AL, 2.50%, 07/01/25
   
1,808,928
     
1,794,391
 
   Series 387770, 3.63%, 07/01/28
   
2,495,000
     
2,511,984
 
   Series 465468, 3.33%, 07/01/20
   
642,079
     
644,601
 
   Series 466284, 3.33%, 10/01/20
   
3,256,363
     
3,273,778
 
   Series 466319, 3.23%, 11/01/20
   
3,160,983
     
3,171,767
 
   TBA, 3.00%, 09/15/48
   
34,950,000
     
33,653,709
 
   TBA, 3.50%, 09/15/48
   
31,800,000
     
31,480,108
 
Fannie Mae-Aces,
               
   Series 2013-M14, Class A, 1.70%, 08/25/18
   
508,828
     
507,960
 
   Series 2014-M13, Class AB2, VR, 2.95%, 08/25/24
   
1,251,176
     
1,224,320
 
   Series 2015-M11, Class A1, 2.10%, 04/25/25
   
803,872
     
796,662
 
   Series 2016-M2, Class ABV2, 2.13%, 01/25/23
   
2,045,556
     
1,963,504
 
   Series 2016-M3, Class ASQ2, 2.26%, 02/25/23
   
4,145,000
     
4,001,123
 
   Series 2016-M6, Class AB2, 2.40%, 05/25/26
   
4,655,000
     
4,351,070
 
   Series 2016-M7, Class AV2, 2.16%, 10/25/23
   
9,610,000
     
9,201,579
 
Freddie Mac Gold Pool,
               
   Series 14074, Class G, 4.50%, 08/01/18
   
10,010
     
10,093
 
 

   Series 14075, Class G, 4.50%, 08/01/18
   
21,759
     
21,940
 
   Series 14660, Class G, 2.00%, 01/01/28
   
5,721,690
     
5,457,408
 
   Series 15226, Class G, 4.50%, 08/01/20
   
414,486
     
418,248
 
Freddie Mac REMIC,
               
   Series 3609, Class LA, 4.00%, 12/15/24
   
91,898
     
92,194
 
   Series 4233, Class MD, 1.75%, 03/15/25
   
175,012
     
174,247
 
Ginnie Mae I Pool,
               
   Series 0091, Class AD, 2.73%, 06/15/32
   
7,548,372
     
7,231,628
 
   Series 2583, Class AB, 2.14%, 08/15/23
   
1,611,918
     
1,549,921
 
Total mortgage and asset-backed securities (cost $159,090,980)
     
156,672,222
 
                 
U.S. TREASURIES - 61.3%
         
U.S. Treasury Bonds,
               
   2.75%, 08/15/47
   
62,865,000
     
58,869,634
 
   2.75%, 11/15/47
   
9,010,000
     
8,434,909
 
U.S. Treasury Notes,
               
   1.25%, 10/31/21
   
88,555,000
     
84,338,260
 
   1.63%, 10/31/23
   
94,810,000
     
89,113,994
 
   2.25%, 11/15/27
   
89,705,000
     
84,553,970
 
   2.50%, 01/31/25
   
40,170,000
     
39,190,856
 
   2.88%, 04/30/25
   
50,305,000
     
50,167,447
 
Total U.S. Treasuries (cost $423,088,692)
     
414,669,070
 
                 
SHORT-TERM INVESTMENTS - 1.0%
         
Auto manufacturers - 1.0%
         
Ford Motor Credit Co. LLC, Commerical paper, 144A, 0.00%, 04/15/19 (a)
   
6,995,000
     
6,857,541
 
Total short-term investments (cost $6,842,194)
     
6,857,541
 
Total investment portfolio (cost $726,064,353) - 105.8%‡
     
715,271,331
 
Liabilities in excess of other assets - (5.8)%
     
(38,961,325
)
Total net assets- 100.0%
   
$
676,310,006
 
 
(a) Restricted securities deemed to be liquid for purpose of compliance limitations on holdings of illiquid securities. At July 31, 2018, these securities aggregated $65,810,085 or 9.7% 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 July 31, 2018.
 
‡The cost basis of investments for federal income tax purposes at July 31, 2018 was as follows+:
     
Cost of investments
 
$
726,064,353
 
Gross unrealized appreciation
   
1,803,887
 
Gross unrealized depreciation
   
(12,596,909
)
Net unrealized appreciation (depreciation)
 
$
(10,793,022
)
         
+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 CORE PLUS BOND FUND
 
FUTURES CONTRACTS - LONG
 
 
       
 
   
 
     
Description
Expiration
Date
 
Number of
Contracts
   
Notional Value
at Trade Date
   
Notional Value
at July 31, 2018
   
Unrealized
Appreciation
(Depreciation)
 
10-Year U.S. Treasury Note
September 2018
   
1,065
   
$
127,327,734
   
$
127,184,297
   
$
(143,437
)
                                   
FUTURES CONTRACTS - SHORT  
                           
     
 
   
 
     
Description
Expiration
Date
 
Number of
Contracts
   
Notional Value
at Trade Date
   
Notional Value
at July 31, 2018
   
Unrealized
Appreciation
(Depreciation)
 
Euro-Bond Futures^
September 2018
   
(815)
 
$
(152,625,035
)
 
$
(153,988,283
)
 
$
(1,363,248
)
                                   
Total futures contracts
                           
$
(1,506,685
)
                                   
 
^ Euro-Bond futures contracts are denominated in Euro. Notional Value at Trade Date, Notional Value at July 31, 2018 and Unrealized Appreciation (Depreciation) have been translated into U.S. Dollars as of July 31, 2018.
           
There is $140,737 of variation margin due from the Fund to the broker as of July 31, 2018.
   
 

 
CARILLON REAMS CORE PLUS BOND FUND
                           
SWAP CONTRACTS - CREDIT DEFAULT SWAPS
                           
 
 
 
 
           
 
   
 
 
 Exchange
Reference
 Entity
Buy/Sell(b)
Protection
Pay/Receive
Fixed Rate
  
 Fixed
Rate
Expiration
Date
 
Notional
Value(c)
   
Value (d)
   
Premiums
Paid(Received)
   
Unrealized
Appreciation
(Depreciation)
 
                                   
Intercontinental Exchange
CDX North America High Yield Index
Series 30
Sell
Receive
5%/Quarterly
6/20/2023
 
$
10,060,000
   
$
763,438
   
$
582,104
   
$
181,334
 
 Total swap contracts
            
$
10,060,000
   
$
763,438
   
$
582,104
   
$
181,334
 
 
There is $15,169 of variation margin due from the broker to the Fund as of July 31, 2018.     
                   
(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)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.
(d)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) | 07.31.2018
       
CARILLON REAMS UNCONSTRAINED BOND FUND
       
CORPORATE BONDS - 23.6%
 
Principal Amount
   
Value
 
Aerospace & defense - 1.0%
       
General Dynamics Corp., 2.88%, 05/11/20
 
$
13,045,000
   
$
13,018,205
 
Airlines - 1.1%
         
American Airlines, Pass Through Trust, Series 2013-2, Class A,  4.95%, 07/15/24
   
2,119,148
     
2,178,611
 
Continental Airlines, Pass Through Trust, Series 2007-1, Class A,  5.98%, 10/19/23
   
1,767,414
     
1,865,505
 
Northwest Airlines, Pass Through Trust, Series 2007-1, Class A,  7.03%, 05/01/21
   
3,321,339
     
3,456,850
 
US Airways, Pass Through Trust,
               
   Series 2010-1, Class A, 6.25%, 10/22/24
   
4,808,910
     
5,143,129
 
   Series 2012-1, Class A, 5.90%, 04/01/26
   
2,672,003
     
2,864,948
 
Auto manufacturers - 5.2%
         
Daimler Finance North America LLC,
               
    144A, 1.75%, 10/30/19 (a)
   
5,150,000
     
5,066,742
 
    144A, 2.30%, 01/06/20 (a)
   
8,650,000
     
8,526,930
 
    144A, 3.10%, 05/04/20 (a)
   
12,005,000
     
11,933,428
 
    144A, 3.35%, 05/04/21 (a)
   
15,050,000
     
14,970,560
 
Ford Motor Credit Co. LLC,
               
    2.43%, 06/12/20
   
8,440,000
     
8,280,756
 
    2.55%, 10/05/18
   
5,690,000
     
5,690,285
 
    2.94%, 01/08/19
   
8,500,000
     
8,508,840
 
General Motors Financial Co., Inc., 3.55%, 04/09/21
   
7,735,000
     
7,713,497
 
Banks - 6.1%
         
Citigroup, Inc., (3 Month LIBOR USD + 0.95%), 3.29%, 07/24/23
   
11,970,000
     
12,043,459
 
JPMorgan Chase & Co.,
               
    2.75%, 06/23/20
   
5,485,000
     
5,444,721
 
   (3 Month LIBOR USD + 0.55%), 2.88%, 03/09/21
   
24,075,000
     
24,153,484
 
UBS AG, 144A, 2.45%, 12/01/20 (a)
   
5,755,000
     
5,628,390
 
U.S. Bank NA, 3.15%, 04/26/21
   
15,830,000
     
15,784,187
 
Wells Fargo & Co.,
               
    2.55%, 12/07/20
   
6,005,000
     
5,905,876
 
   (3 Month LIBOR USD + 1.23%), 3.57%, 10/31/23
   
13,305,000
     
13,591,057
 
Capital markets - 0.2%
         
The Goldman Sachs Group, Inc., 2.75%, 09/15/20
   
2,750,000
     
2,723,210
 
Chemicals - 0.3%
         
The Sherwin-Williams Co., 2.25%, 05/15/20
   
3,895,000
     
3,836,171
 
Consumer finance - 2.0%
         
Ally Financial, Inc., 3.25%, 11/05/18
   
9,325,000
     
9,318,006
 
American Express Co., 2.20%, 10/30/20
   
6,450,000
     
6,306,193
 
American Express Credit Corp.,
               
    1.70%, 10/30/19
   
5,500,000
     
5,418,954
 
    2.60%, 09/14/20
   
6,435,000
     
6,361,491
 
Diversified financial services - 1.0%
         
AIG Global Funding,
               
   144A, 1.95%, 10/18/19 (a)
   
8,255,000
     
8,137,869
 
   (3 Month LIBOR USD + 0.48%), 144A, 2.82%, 07/02/20 (a)
   
4,770,000
     
4,780,945
 
Food products - 0.1%
         
Campbell Soup Co., (3 Month LIBOR USD + 0.63%), 2.97%, 03/15/21
   
1,280,000
     
1,281,967
 
Health care equipment & supplies - 0.9%
         
Abbott Laboratories, 2.35%, 11/22/19
   
1,227,000
     
1,219,367
 
Becton Dickinson and Co.,
               
    2.13%, 06/06/19
   
4,855,000
     
4,819,160
 
    2.40%, 06/05/20
   
6,700,000
     
6,587,099
 
Health care providers & services - 0.5%
         
CVS Health Corp.,  3.70%, 03/09/23
   
6,340,000
     
6,300,307
 
 

Insurance - 4.7%
         
Jackson National Life Global Funding, (3 Month LIBOR USD + 0.30%), 144A, 2.64%, 04/27/20 (a)
   
29,145,000
     
29,143,829
 
MassMutual Global Funding II, 144A, 1.95%, 09/22/20 (a)
   
12,055,000
     
11,723,575
 
Metropolitan Life Global Funding I, (3 Month LIBOR USD + 0.23%), 144A, 2.57%, 01/08/21 (a)
   
17,830,000
     
17,843,710
 
Reliance Standard Life Global Funding II, 144A, 2.50%, 01/15/20 (a)
   
4,550,000
     
4,498,599
 
Oil, gas & consumable fuels - 0.5%
         
Energy Transfer Partners LP, 4.05%, 03/15/25
   
6,392,000
     
6,239,338
 
Total corporate bonds (cost $318,526,741)
     
318,309,250
 
                 
MORTGAGE AND ASSET-BACKED SECURITIES- 9.1%
         
Asset-backed securities - 1.8%
         
Bank of The West Auto Trust, Series 2017-1, Class A2, 144A, 1.78%, 02/15/21 (a)
   
11,652,920
     
11,597,702
 
Countrywide Asset-Backed Certificates, Series 2006-S10, Class A3, (1 Month LIBOR USD + 0.32%), 2.38%, 10/25/36
   
1,408,109
     
1,334,418
 
Hertz Vehicle Financing II LP, Series 2015-2A, Class A, 144A, 2.02%, 09/25/19 (a)
   
9,455,000
     
9,444,227
 
Home Equity Loan Trust, Series 2006-HSA2, Class AI3, VR, 5.55%, 11/25/27
   
3,662,886
     
1,977,445
 
Commercial mortgage-backed securities - 5.0%
         
COMM Mortgage Trust, Series 2012-CCRE4, Class ASB, 2.44%, 10/17/45
   
8,708,127
     
8,579,417
 
GS Mortgage Securities Trust,
               
  Series 2013-GCJ14, Class AAB, 3.82%, 08/10/46
   
4,750,000
     
4,812,504
 
  Series 2014-GC22, Class A3, 3.52%, 06/12/47
   
15,166,430
     
15,266,416
 
UBS Commercial Mortgage Trust, Series 2018-C11, Class A1, 3.21%, 06/16/51
   
5,030,000
     
5,019,828
 
Wells Fargo Commercial Mortgage Trust, Series 2013-LC12, Class ASB, 3.93%, 07/17/46
   
11,020,000
     
11,195,748
 
WFRBS Commercial Mortgage Trust,
               
  Series 2012-C10, Class ASB, 2.45%, 12/15/45
   
5,799,307
     
5,715,558
 
  Series 2013-C18, Class A3, 3.65%, 12/17/46
   
7,315,000
     
7,371,283
 
  Series 2014-C21, Class A3, 3.43%, 08/16/47
   
9,870,000
     
9,892,480
 
Federal agency mortgage-backed obligations - 2.3%
         
Fannie Mae Pool,
               
  Series 5796, Class AN, 3.03%, 06/01/27
   
4,095,000
     
3,953,027
 
  Series 387770, 3.63%, 07/01/28
   
4,760,000
     
4,792,403
 
  TBA, 3.00%, 09/15/48
   
23,465,000
     
22,594,687
 
Total mortgage and asset-backed securities (cost $124,439,081)
     
123,547,143
 
                 
U.S. TREASURIES - 64.5%
         
U.S. Treasury Inflation Indexed Bonds, 1.00%, 02/15/48
   
14,206,842
     
14,435,070
 
U.S. Treasury Inflation Indexed Notes,  0.50%, 01/15/28
   
14,024,450
     
13,553,518
 
U.S. Treasury Bonds, 2.75%, 11/15/47
   
5,795,000
     
5,425,116
 
U.S. Treasury Notes,
               
  1.25%, 10/31/21
   
171,945,000
     
163,757,462
 
  1.88%, 02/28/22
   
26,650,000
     
25,809,901
 
  2.00%, 12/31/21
   
140,225,000
     
136,593,391
 
  2.25%, 08/15/27
   
51,525,000
     
48,644,833
 
  2.25%, 11/15/27
   
279,570,000
     
263,516,565
 
  2.75%, 02/28/25
   
76,095,000
     
75,348,912
 
  2.75%, 02/15/28
   
127,900,000
     
125,656,754
 
Total U.S. Treasuries (cost $891,542,544)
     
872,741,522
 
                 
SHORT-TERM INVESTMENTS - 2.5%
         
Auto manufacturers - 2.5%
         
Ford Motor Credit Co. LLC, Commerical paper, 144A, 0.00%, 04/15/19 (a)
   
34,000,000
     
33,331,866
 
Total short-term investments (cost $33,257,270)
     
33,331,866
 
Total investment portfolio (cost $1,367,765,636) - 99.7%‡
     
1,347,929,781
 
Other assets in excess of liabilities - 0.3%
     
4,631,085
 
Total net assets - 100.0%
   
$
1,352,560,866
 
 

(a) Restricted securities deemed to be liquid for purpose of compliance limitations on holdings of illiquid securities. At July 31, 2018, these securities aggregated $176,628,372 or 13.1% 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.
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.
TBA - To-be-announced security.  Securities are being used in dollar roll transactions.
         
 
‡The cost basis of investments for federal income tax purposes at July 31, 2018 was as follows+:
     
Cost of investments
 
$
1,367,765,636
 
Gross unrealized appreciation
   
2,345,753
 
Gross unrealized depreciation
   
(22,181,608
)
Net unrealized appreciation (depreciation)
 
$
(19,835,855
)
         
+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 UNCONSTRAINED BOND FUND         
 
FUTURES CONTRACTS - LONG           
 
 
 
   
 
   
 
     
Description
Expiration
Date
 
Number of
Contracts
   
Notional Value
at Trade Date
   
Notional Value
at July 31, 2018
   
Unrealized
Appreciation
(Depreciation)
 
5-Year U.S. Treasury Note
September 2018
   
1,765
   
$
200,758,294
   
$
199,665,625
   
$
(1,092,669
)
10-Year U.S. Treasury Note
September 2018
   
1,075
     
129,304,730
     
128,378,516
     
(926,214
)
                                   
FUTURES CONTRACTS - SHORT
                               
                                   
 
 
       
 
   
 
 
Description
Expiration
Date
 
Number of
Contracts
   
Notional Value
at Trade Date
   
Notional Value
at July 31, 2018
   
Unrealized
Appreciation
(Depreciation)
 
Euro-Bond Futures^
September 2018
   
(2,260)
 
 
$
(423,198,237
)
 
$
(427,010,454
)
 
$
(3,812,217
)
                                   
Total futures contracts
                           
$
(5,831,100
)
                                   
 
^ Euro-Bond futures contracts are denominated in Euro. Notional Value at Trade Date, Notional Value at July 31, 2018 and Unrealized Appreciation (Depreciation) have been translated into U.S. Dollars as of July 31, 2018.
 
                                   
There is $297,681 of variation margin due from the Fund to the broker as of July 31, 2018.
                 


CARILLON REAMS UNCONSTRAINED BOND FUND
 
SWAP CONTRACTS - CREDIT DEFAULT SWAPS
 
                       
                                   
 Exchange
Reference
Entity
Buy/Sell(b)
Protection
Pay/Receive
Fixed Rate
  Fixed
Rate
 Expiration
Date
 
Notional
Value(c)
   
Value(d)
   
Premiums
Paid
(Received)
   
Unrealized
Appreciation
(Depreciation)
 
Intercontinental Exchange
CDX North America High Yield Index Series 30
Sell
Receive
5%/Quarterly
6/20/2023
 
$
21,450,000
   
$
1,627,809
   
$
1,241,167
   
$
386,642
 
 Total swap contracts 
            
$
21,450,000
   
$
1,627,809
   
$
1,241,167
   
$
386,642
 
                                           
 
There is $32,343 of variation margin due from the broker to the Fund as of July 31, 2018.   
     
                   
(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)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.
(d)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.
 

Notes to Financial Statements
(UNAUDITED) | 07.31.2018

 
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 Fund’s 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 (“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 lookback 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 a 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.
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), commercial paper 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. In accordance with SEC guidance, before using certain evaluated prices from a Pricing Service to determine the fair value of a Fund’s securities, Carillon Tower or the Valuation Committee shall, as appropriate, consider the inputs, methods, models, and assumptions used by the Pricing Service to determine the evaluated prices, and how those inputs, methods, models and assumptions are affected, if at all, as market conditions change. 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. As of July 31, 2018, only the Core Plus Bond Fund and Unconstrained Bond Fund held futures. None of the Funds held options as of July 31, 2018.
Credit default swaps | Credit default swaps are valued with prices provided by independent pricing services. If prices provided by independent pricing services are unavailable or unreliable, the Valuation Committee will fair value the security using the Procedures. As of July 31, 2018, only the Core Plus Bond Fund and Unconstrained Bond Fund held credit default swaps.
 

Notes to Financial Statements
(UNAUDITED) | 07.31.2018

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. A 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 July 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)
 $484,892,057
 $—
 $—
Total investment portfolio
 $484,892,057
 $—
 $—
International Stock Fund
   
Common stocks (a):
 
 
 
Australia
 $—
 $735,089
 $—
Belgium
                                                        —
                            221,234
                                                —
Denmark
                                                        —
                            223,274
                                                —
Finland
                                                        —
                              86,340
                                                —
France
                                                        —
                         1,423,426
                                                —
Germany
                                                        —
                         1,649,697
                                                —
Hong Kong
                                                        —
                            134,995
                                                —
Israel
                                                        —
                            293,991
                                                —
Italy
                                                        —
                            585,921
                                                —
Japan
                                                        —
                         5,865,398
                                                —
Netherlands
                                              254,984
                            462,146
                                                —
Norway
                                                        —
                            126,774
                                                —
Singapore
                                                        —
                            434,596
                                                —
Spain
                                                        —
                            391,907
                                                —
Sweden
                                                        —
                            700,423
                                                —
Switzerland
                                                        —
                         2,682,191
                                                —
United Kingdom
                                                        —
                         2,986,664
                                                —
Preferred stocks:
 
 
 
Germany
                                                        —
                            211,656
                                                —
Exchange traded funds
                                              199,752
                                      —
                                                —
Total investment portfolio
 $454,736
 $19,215,722
 $—
Tactical Allocation Fund
   
Exchange traded funds
 $16,417,742
 $—
 $—
Total investment portfolio
 $16,417,742
 $—
 $—
Growth & Income Fund
   
Common stocks (a)
 $585,948,763
 $—
 $—
Total investment portfolio
 $585,948,763
 $—
 $—
Mid Cap Growth Fund
   
Common stocks (a)
 $4,219,006,864
 $—
 $—
Total investment portfolio
 $4,219,006,864
 $—
 $—
 

Notes to Financial Statements
(UNAUDITED) | 07.31.2018

 
Quoted prices in active markets for
 identical assets (Level 1)
Significant other
observable inputs (Level 2)
Significant unobservable inputs
 (Level 3)
 
       
Small Cap Growth Fund
   
Common stocks (a)
 $5,303,847,802
 $—
 $—
Contingent value rights
                                                        —
                                      —
                                      242,594
Total investment portfolio
 $5,303,847,802
 $—
 $242,594
International Fund
   
Common stocks (a):
 
 
 
Australia
 $9,951,924
 $66,566,483
 $—
Canada
                                         16,948,755
                                      —
                                                —
Denmark
                                         16,194,511
                         8,832,934
                                                —
France
                                                        —
                        82,067,816
                                                —
Germany
                                         30,946,198
                        73,679,125
                                                —
Hong Kong
                                                        —
                        11,536,611
                                                —
Ireland
                                         15,116,046
                        13,064,415
                                                —
Japan
                                                        —
                      136,128,261
                                                —
Mexico
                                         40,720,894
                                      —
                                                —
Norway
                                                        —
                        18,048,726
                                                —
Singapore
                                                        —
                        15,358,988
                                                —
South Africa
                                                        —
                         8,551,388
                                                —
Spain
                                                        —
                        17,734,710
                                                —
Sweden
                                                        —
                        34,001,087
                                                —
Switzerland
                                         29,523,639
                        70,286,616
                                                —
Taiwan
                                                        —
                        24,405,225
                                                —
United Kingdom
                                         43,412,526
                        74,050,964
                                                —
United States
                                         49,339,029
                                      —
                                                —
Preferred stocks:
     
Colombia
                                         15,248,685
                                      —
                                                —
Germany
                                         14,995,793
                        19,037,807
                                                —
Total investment portfolio
 $282,398,000
 $673,351,156
 $—
Mid Cap Fund
   
Common stocks (a)
 $2,326,754,735
 $—
 $—
Total investment portfolio
 $2,326,754,735
 $—
 $—
Small Cap Fund
   
Common stocks (a)
 $330,772,948
 $—
 $—
Total investment portfolio
 $330,772,948
 $—
 $—
Core Bond Fund
   
Corporate bonds (a)
 $—
 $26,977,134
 $—
Mortgage and asset-backed securities
                                                        —
                        30,203,716
                                                —
U.S. Treasuries
                                                        —
                        65,647,451
                                                —
Short-term investments
                                                        —
                         1,161,714
                                                —
Total investment portfolio
 $—
 $123,990,015
 $—
Core Plus Bond Fund
   
Corporate bonds (a)
 $—
 $137,072,498
 $—
Mortgage and asset-backed securities
                                                        —
                      156,672,222
                                                —
U.S. Treasuries
                                                        —
                      414,669,070
                                                —
Short-term investments
                                                        —
                         6,857,541
                                                —
Total investment portfolio
 $—
 $715,271,331
 $—
Futures contracts - long (b)
 $(143,437)
 $—
 $—
Futures contracts - short (b)
 $(1,363,248)
 $—
 $—
Credit default swaps
 $—
 $763,438
 $—
 

Notes to Financial Statements
(UNAUDITED) | 07.31.2018

Quoted prices in active markets for
 identical assets (Level 1)
Significant other
observable inputs (Level 2)
Significant unobservable inputs
 (Level 3)
 
Unconstrained Bond Fund
   
Corporate bonds (a)
 $—
 $318,309,250
 $—
Mortgage and asset-backed securities
                                                        —
                      123,547,143
                                                —
U.S. Treasuries
                                                        —
                      872,741,522
                                                —
Short-term investments
                                                        —
                        33,331,866
                                                —
Total investment portfolio
 $—
 $1,347,929,781
 $—
Futures contracts - long (b)
 $(2,018,883)
 $—
 $—
Futures contracts - short (b)
 $(3,812,217)
 $—
 $—
Credit default swaps
 $—
 $1,627,809
 $—

 
(a)
Please see the investment portfolio for detail by industry.
(b)
Amounts presented for the Futures Contracts represent total unrealized appreciation (depreciation) as of July 31, 2018.

 
Each Fund recognizes transfers between levels at the end of the reporting period. During the period from November 1, 2017 to July 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 July 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
Sales
(14,746,830)
Change in unrealized appreciation (depreciation)
Balance as of July 31, 2018
$—
$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 1.00% of net asset value. At July 31, 2018, the Level 3 investments within the Fund did not exceed such threshold and therefore have not been disclosed.
 
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. was no longer exchange traded and was delisted. The Fund’s position in Patheon N.V. was sold during the period from November 1, 2017 to July 31, 2018 and is no longer held by the Fund. The Fund recognized realized gains of $2,604,859 from the sale of Patheon N.V.
 
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 consideration 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, Core Bond, International, 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. The risks to the Funds of entering into forward contracts include the inability of counterparties to meet the terms of their contracts, future adverse movement in currency values and contract positions that are not exact offsets. As of July 31, 2018, none of the Funds held forward contracts.
Credit default swap contracts | The International Stock, 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 value”), 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 value 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 value 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 value 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 value 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 value 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 value 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 Financial Statements
(UNAUDITED) | 07.31.2018

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 Manager 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: September 21, 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: September 21, 2018
/s/ Susan L. Walzer
Susan L. Walzer
Principal Executive Officer
Date: September 21, 2018
/s/ Carolyn Gill
Carolyn Gill
Principal Financial Officer