What smart money is saying about ICON
8 funds in our archive have pitched ICON — most recently Harris Associates U.S. Concentrated Strategy in June 2026.
ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies. It also provides clinical development services, including all phases of development, peri and post approval, data solutions, and site and patient access services; clinical trial management, consulting, and contract staffing services; and commercial services comprising clinical development strategy, planning and trial design, full study execution, and post-market commercialization. In addition, the company offers laboratory services, including bionanalytical, biomarker, vaccine, good manufacturing practice, and central laboratory services, as well as full-service and functional service partnerships to customers. Further, the company provides adaptive trials, cardiac safety solutions, clinical and scientific operations, consulting and advisory, commercial positioning, decentralized and hybrid clinical trials, early clinical, laboratories, language services, medical imaging, real world intelligence, site and patient, and strategic solutions. It serves pharmaceutical, biotechnology, and medical device industries, as well as government and public health organizations. The company has a strategic alliance with Advarra, Inc. for the development of a connected, research-ready clinical trial site network model. ICON Public Limited Company was incorporated in 1989 and is headquartered in Dublin, Ireland.
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Position history
Between Q4 2024 and Q2 2026, 9 fund letters reported a position in ICON — 4 opened or added to the position, 1 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 6 | 2 | 1 | 1 |
| Q1 2026 | 3 | 2 | 0 | 0 |
| Q4 2025 | 0 | 0 | 0 | 1 |
| Q2 2025 | 0 | 0 | 0 | 2 |
| Q1 2025 | 0 | 0 | 0 | 3 |
| Q4 2024 | 0 | 0 | 0 | 1 |
Fund activity · 11 positions · 6 moves
- HoldsBaron Small Cap FundJune 2026
“In Health Care, Hinge Health, Inc. more than doubled in the quarter after reporting strong results and new services, and ICON plc rebounded after addressing accounting concerns and reporting strong billings and backlog.”
Read the letterICON - HoldsHarris Associates U.S. Concentrated StrategyJune 2026
“• ICON was a contributor during the quarter.”
Read the letterICON - AddedSequoia Fund (Ruane Cunniff LP)June 2026
“During the quarter, we added modestly to our investments in Bio-Techne, SAP, and ICON Plc,”
Read the letterICON - HoldsSequoia Fund (Ruane Cunniff LP)June 2026
“Icon plc 4.2%”
Read the letterICON - AddedGreensKeeper Value FundJune 2026
“we decided to materially increase our position.”
Read the letterICON - HoldsBrown Advisory Global Value Select StrategyJune 2026
“Icon, one of the three large Contract Research Organizations, performed strongly as an internal accounting investigation was resolved with only a minor restatement to prior years, and results showed an acceleration in the critical forward-looking bookings metric.”
Read the letterICON - TrimmedDistillate CapitalJune 2026
Listed in Distillate Capital’s reported holdings.
Read the letterICON - AddedBrown Advisory Large-Cap Sustainable ValueMarch 2026
“we used the weakness to add to our position.”
Read the letterICON - HoldsCambiar International Equity FundMarch 2026
“Individual underperformers were ICON and Coloplast, the latter being a relatively newer holding (purchased in 4Q25).”
Read the letterICON - AddedBrown Advisory Large-Cap Sustainable ValueMarch 2026
“we used the weakness in the stock to add to our position.”
Read the letterICON - AddedBrown Advisory U.S. Value FundMarch 2026
“we used the weakness to add to our position.”
Read the letterICON
Fund coverage · 8 theses
- Harris Associates U.S. Concentrated StrategyJune 2026
ICON is a leading pure-play clinical research organization with improving bookings, margin expansion, and a long runway for future growth.
Read the full thesis - Orbis International EquityDecember 2025
ICON plc is a leading CRO trading at a depressed multiple due to temporary headwinds but supported by strong secular demand for healthcare innovation.
Read the full thesis - LRT Capital ManagementJune 2025
ICON Public Limited Company is a leading global Contract Research Organization that specializes in drug and device development services, leveraging its scale, expertise, and technology to enhance efficiency and success in the complex clinical trial process for the biopharma industry.
Read the full thesis - Harris Oakmark Concentrated StrategyJune 2025
ICON PLC is a leading contract research organization that presents a buying opportunity due to its low earnings multiple and potential for recovery in biopharma R&D spending.
Read the full thesis - Brown Advisory Large Cap Sustainable ValueMarch 2025
ICON Plc is a leading contract research organization benefiting from sustainable cash flow and attractive valuation despite recent industry pressures.
Read the full thesis - GreenskeeperMarch 2025
Icon PLC (ICLR) is a leading contract research organization that will benefit from ongoing development of new drugs and medical devices, despite current regulatory uncertainties.
Read the full thesis - Parnassus Mid Cap Growth FundMarch 2025
ICON is a leading CRO poised for growth as R&D spending rebounds and it gains market share following a recent stock sell-off.
Read the full thesis - Sequoia FundDecember 2024
ICON plc is a leading Contract Research Organization positioned to benefit from the ongoing demand for drug development despite recent financial challenges.
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