GreensKeeper Asset Management, a notable player in the investment management industry, has recently published its investor letter for the first quarter of 2025. This comprehensive document, which offers insights into the companys performance and investment strategy, can be downloaded from their official website. The letter presents a candid assessment of the challenging market conditions that unfolded during the initial months of 2025, characterized by significant volatility across major indices.

Despite the turbulent backdrop, the Value Fund managed to finish the first quarter with a modest gain of 3.0%, net of fees and expenses. In comparison, the broader market indices experienced a downturn, with the S&P/TSX returning just 1.5%, while the S&P 500 and Nasdaq suffered losses of 4.2% and 10.2%, respectively. A particularly noteworthy event contributing to this market volatility was President Trumps announcement of a "Liberation Day" tariff on April 2, which led to a sharp decline in market values, with an approximate drop of 10% observed within a week.

In its investor letter, GreensKeeper Asset Management spotlighted several promising stocks for 2025, including the ICON Public Limited Company (NASDAQ:ICLR), a leading clinical research organization (CRO) headquartered in Dublin, Ireland. The performance of ICON has been less than stellar in recent months; the stock recorded a one-month return of -13.11% and a staggering 50.23% decline over the past year. As of April 9, 2025, ICON's stock closed at $155.49 per share, positioning its market capitalization at approximately $12.567 billion.

The management team at GreensKeeper articulated their rationale for investing in ICON Public Limited Company in the following excerpt from their Q1 2025 investor letter:

We made one new purchase in the quarter: ICON Public Limited Company (NASDAQ:ICLR). ICLR is a leading contract research organization (CRO) based in Ireland that manages clinical trials for pharmaceutical and biotechnology companies worldwide. Despite some uncertainty driven by recent personnel changes at the Food and Drug Administration (FDA) and the Centers for Disease Control and Prevention (CDC), we believe that new drugs and medical devices will continue to be developed, and scientific progress will continue. New drugs require rigorous clinical testing before reaching the market. As a leading CRO, ICLR will capture its fair share of clinical trials once the dust settles.

ICON Public Limited Company is not currently listed among the 30 Most Popular Stocks Among Hedge Funds. According to the latest data, 46 hedge fund portfolios included ICON at the end of the fourth quarter, a slight decrease from 48 in the previous quarter. In terms of financial performance, ICON reported a revenue of $2.04 billion for the fourth quarter, reflecting a year-on-year decline of 1.2%. While GreensKeeper acknowledges the potential of ICON as a viable investment, they express a stronger conviction in the promise of artificial intelligence (AI) stocks, which they believe offer greater potential for higher returns within a shorter investment horizon. For investors interested in AI opportunities, GreensKeeper hints at a report detailing a particularly promising AI stock that trades at under five times its earnings, drawing a parallel with the success of NVIDIA.