Core Insights - The Carillon Eagle Mid Cap Growth Fund's third-quarter 2025 investor letter highlights a continued rally in equity markets driven by enthusiasm for AI, limited inflationary effects from tariffs, and expectations for interest rate cuts by the U.S. Federal Reserve [1] - Mid-cap stocks showed positive gains, with the Russell Midcap Growth Index increasing by 2.78%, although it underperformed the Russell Midcap® Value Index, which rose by 6.16% during the same period [1] Company Analysis: Axon Enterprise, Inc. (NASDAQ:AXON) - Axon Enterprise, Inc. manufactures conducted energy devices under the TASER brand, but its stock experienced a one-month return of -30.52% and a 52-week decline of 17.01%, closing at $524.60 with a market capitalization of $41.396 billion on November 13, 2025 [2] - Despite a robust growth quarter and positive momentum in new product development, Axon’s stock lagged after a period of outperformance, focusing on innovative solutions for law enforcement, including advancements in drones and AI-enabled technologies [3] - Axon reported $711 million in revenue for the third quarter, marking a 31% year-over-year increase, but is not among the 30 most popular stocks among hedge funds, with 62 hedge fund portfolios holding its stock at the end of the second quarter [4]