US-based investment company, McIntyre Partnerships, returned -19% gross and -20% net in the first quarter of 2026 compared to the Russell 2000 Value Index’s 5% return. A copy of the letter can be downloaded here. Since inception, the fund has returned ~14% gross and ~10% net per annum, surpassing the benchmark’s return of ~7% per annum. The Q1 results were disappointing for the fund, primarily due to a significant decline in the shares of life science tools and medical device stocks, in which the fund has substantial investments, as well as specific issues related to QDEL, a company in the life science tools sector. By the end of the month, the fund’s exposure was recorded at 123% long, 27% short, and 97% net. In addition, you can check the Strategy’s top 5 holdings to determine its best picks for 2026.
In its first-quarter 2026 investor letter, McIntyre Partnerships highlighted stocks like ICON Public Limited Company (NASDAQ:ICLR). ICON Public Limited Company (NASDAQ:ICLR) is a clinical research organization that provides outsourced development and commercialization services to the pharmaceutical, biotechnology, and medical device industries. On May 29, 2026, ICON Public Limited Company (NASDAQ:ICLR) stock closed at $136.07 per share. One-month return of ICON Public Limited Company (NASDAQ:ICLR) was 20.42%, and its shares gained 4.60% over the past 52 weeks. ICON Public Limited Company (NASDAQ:ICLR) has a market capitalization of about $10.31 billion.
McIntyre Partnerships stated the following regarding ICON Public Limited Company (NASDAQ:ICLR) in its Q1 2026 investor letter:
“In the winners column, CC, ICON Public Limited Company (NASDAQ:ICLR), and SEG contributed 100-500bps. We also had a successful trade in ICLR around its accounting restatement. While I like ICLR’s business and think its shares are attractively priced, I did not want to increase our exposure to healthcare, which accounts for over 50% of the fund’s capital, so I exited the position after it partially rallied back.”
ICON Public Limited Company (NASDAQ:ICLR) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 49 hedge fund portfolios held ICON Public Limited Company (NASDAQ:ICLR) at the end of the first quarter, up from 41 in the previous quarter. While we acknowledge the risk and potential of ICON Public Limited Company (NASDAQ:ICLR) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ICON Public Limited Company (NASDAQ:ICLR) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered ICON Public Limited Company (NASDAQ:ICLR) and shared White Brook Capital Partners’ views on the company. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
