Here’s Why ICON Plc. (ICLR) Gained +20.3% in Q3

Group 1 - GreensKeeper Asset Management's Value Fund achieved a +4.0% gain in Q3 2025, with a year-to-date return of +0.2% net of fees and expenses [1] - The US dollar negatively impacted performance by -3.7% year-to-date [1] - The market rally in 2025 was primarily driven by AI, cryptocurrency, and speculative investments [1] Group 2 - ICON Public Limited Company (NASDAQ:ICLR) was highlighted as a significant stock, with a one-month return of 14.89% and a 52-week loss of 10.74% [2] - As of December 16, 2025, ICON's stock closed at $182.45 per share, with a market capitalization of $14.19 billion [2] - ICON was the second top contributor to the fund's performance in Q3 2025, with a return of +20.3% [3] - The company was initially purchased due to concerns over tariff exposures and potential reductions in pharmaceutical R&D investment, but the market's reaction was deemed excessively punitive [3] - Despite uncertainties regarding ICON's 2025 earnings, the company's strong execution track record and its role in pharmaceutical R&D were expected to help it navigate challenging conditions [3]