#15 among the stocks most managers dropped in Q2 2026 →
Icon (ICLR): which funds own it
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Sections with a free account
18 concentrated managers hold it (−6 vs last quarter); combined they have held more shares for 3 quarters in a row (7 added, 5 trimmed). Its median weight in those portfolios is 3.3%.
Who owns Icon?
Holders reporting more than 5% of the shares to the SEC (Schedules 13D/13G): Artisan Partners Limited Partnership, 10.9% (13G/A filed Mar 6, 2026), Wellington Management Group LLP, 7.7% (13G/A filed May 15, 2026), Invesco, 6.9% (13G/A filed Aug 13, 2026), FMR, 6.9% (13G/A filed Aug 6, 2026) and Harris Associates, 5.7% (13G filed May 15, 2026). As of Jun 30, 2026, the largest holders reported on Form 13F were Artisan Partners Limited Partnership (11.3% of the shares), Wellington Management Group LLP (6.9%) and FMR (6.9%).
Which institutions hold the most Icon shares?
Per Form 13F filings as of Jun 30, 2026, as a share of all shares outstanding:
- 1. Artisan Partners Limited Partnership: 11.3%
- 2. Wellington Management Group LLP: 6.9%
- 3. FMR: 6.9%
- 4. Invesco: 6.9%
- 5. Harris Associates: 5.8%
- 6. Brave Warrior Advisors: 4.1%
- 7. Greenhaven Associates: 4.0%
- 8. Principal Financial Group: 3.9%
- 9. Massachusetts Financial Services: 2.7%
- 10. Ruane, Cunniff & Goldfarb: 2.7%
Sources:13G/A by Artisan Partners Limited Partnership (Mar 6, 2026) ↗13G/A by Wellington Management Group LLP (May 15, 2026) ↗13G/A by Invesco (Aug 13, 2026) ↗13G/A by FMR (Aug 6, 2026) ↗13G by Harris Associates (May 15, 2026) ↗All of the company's proxy statements on EDGAR ↗
13F percentages divide the shares each institution reports by the shares outstanding on the cover of the company's latest report before the quarter end (Dec 31, 2025). Entities of the same group file separately and are not added up. We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.
Icon revenue
Icon reported annual revenue of $8.25 billion for fiscal year 2025 (year ended December 31, 2025), according to its Form 20-F filed with the SEC (XBRL data).
Quarter flow (concentrated managers)
Change in managers (24 → 18): 2 opened · 8 exited = −6
Net flow in the quarter: −$314M (−1.8 M shares) · bought $549M and sold $863MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.
Accumulation: combined they have held more shares for 3 quarters in a row (7 added, 5 trimmed). It is the combined share count of those still holding it: one large buyer can outweigh many who trimmed.
The set of concentrated managers changed between quarters: with the set as it was then, 22 held it last quarter (the chart point); with today's set, 24 (the base for the change).
Concentrated managers holding it
- Brave Warrior AdvisorsIncreased$548M11.9%+0.6 pp
- Greenhaven AssociatesIncreased$539M6.2%+2.2 pp
- Ruane, Cunniff & GoldfarbIncreased$356M5.5%+1.1 pp
- Trinity Street Asset Management LLPIncreased$267M13.7%+2.9 pp
- Maple Rock Capital PartnersIncreased$208M4.1%+2.9 pp
- Lyrical Asset ManagementReduced$153M1.9%−0.1 pp
- First Pacific AdvisorsReduced$105M1.3%−0.8 pp
- Eagle Health InvestmentsReduced$53.5M8.9%−1.4 pp
- Kensico Capital ManagementNew$32.7M0.6%+0.6 pp
- Stanley Capital ManagementIncreased$24.3M3.2%+0.9 pp
- Eldred Rock Partners$23.3M5.0%
- Sio Capital ManagementReduced$15.3M2.6%−4.9 pp
- Firetrail Investments PTYIncreased$12.0M3.4%+0.6 pp
- Muhlenkamp$11.5M3.3%
- Khrom Capital ManagementNew$10.8M0.9%+0.9 pp
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Other relevant holders
Filers with $100M or more in the stock that do not count as concentrated managers because of their type: they are left out of the counts, the consensus and the accumulation.
- Norges BankPension or sovereign fund$143M0.0%
Largest holders of ICLR (all 13F filers)
- Artisan Partners Limited Partnership8.6 MInvestment firm · 11.28% of the company+357 K
- Wellington Management Group LLP5.3 MInvestment firm · 6.95% of the company−593 K
- FMR5.3 MInvestment firm · 6.88% of the company+1.1 M
- Invesco5.3 MInvestment firm · 6.88% of the company+1.4 M
- Harris Associates4.5 MInvestment firm · 5.84% of the company+117 K
- Brave Warrior Advisorsconcentrated3.2 MInvestment firm · 4.12% of the company+156 K
- Greenhaven Associatesconcentrated3.1 MInvestment firm · 4.05% of the company+1.1 M
- Principal Financial Group3.0 MInsurance holding · 3.85% of the company−361 K
- Massachusetts Financial Services2.1 MInvestment firm · 2.75% of the company−623 K
- Ruane, Cunniff & Goldfarbconcentrated2.0 MInvestment firm · 2.67% of the company+413 K
- Shares
- 8.6 M
- Change
- +357 K
- % of the company
- 11.28%
See more
- Type
- Investment firm
- Value
- $1.5 bn
- Shares
- 5.3 M
- Change
- −593 K
- % of the company
- 6.95%
See more
- Type
- Investment firm
- Value
- $924M
- Shares
- 5.3 M
- Change
- +1.1 M
- % of the company
- 6.88%
See more
- Type
- Investment firm
- Value
- $916M
- Shares
- 5.3 M
- Change
- +1.4 M
- % of the company
- 6.88%
See more
- Type
- Investment firm
- Value
- $914M
- Shares
- 4.5 M
- Change
- +117 K
- % of the company
- 5.84%
See more
- Type
- Investment firm
- Value
- $776M
- Brave Warrior Advisorsconcentrated
- Shares
- 3.2 M
- Change
- +156 K
- % of the company
- 4.12%
See more
- Type
- Investment firm
- Value
- $548M
- Greenhaven Associatesconcentrated
- Shares
- 3.1 M
- Change
- +1.1 M
- % of the company
- 4.05%
See more
- Type
- Investment firm
- Value
- $539M
- Shares
- 3.0 M
- Change
- −361 K
- % of the company
- 3.85%
See more
- Type
- Insurance holding
- Value
- $513M
- Shares
- 2.1 M
- Change
- −623 K
- % of the company
- 2.75%
See more
- Type
- Investment firm
- Value
- $369M
- Ruane, Cunniff & Goldfarbconcentrated
- Shares
- 2.0 M
- Change
- +413 K
- % of the company
- 2.67%
See more
- Type
- Investment firm
- Value
- $356M
The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.
Held by institutions (13F)
Institutions (13F): 104.8% of the shares: above 100% (securities lending or double reporting) · top 10: 55.3% · in index firms: 3.5% of the institutional total
Q2 2026: 104.8%
Shares reported by the 423 13F filers as of Jun 30, 2026, divided by the shares outstanding on the cover of the company's latest report (Dec 31, 2025). It is not all institutional ownership: only managers above $100M file a 13F, and it excludes short positions. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. We only publish it where the figure is credible: not for ADRs, companies with more than one share class or stale shares-outstanding data.
Fundamentals
12-month figures to Dec 31, 2025 · balance sheet as of Dec 31, 2025.
- Operating margin
- 5.4%
- Net margin
- 2.8%
- ROE
- 2.5%
- Revenue (TTM)
- $8.3 bn
- Revenue growth
- 0.8%
- Net income (TTM)
- $229M
- Net debt / EBITDA
- 3.3x
- Free cash flow (TTM)
- $862M
- Quality vs sector
- 37/100
Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated
Shares outstanding: buybacks and dilution
2025: 79.0 M
- 1 year
- −4.9%
- 3 years
- −4.2%
- 5 years
- +48.2%
- Buybacks (FY 2025)
- $750M
- Share issuance
- no data
- Stock-based compensation
- $102M1.2% of revenue
- Dividends paid
- no data
From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.
Earnings quality and debt
- Operating cash flow ÷ net income (12 months)
- 4.52
- Interest coverage (operating income ÷ interest)
- 2.2 timesfiscal 2025
- Debt due within 12 months
- $530M0.82 times cash and investments
- Year 1$530M
- Year 2$780M
- Year 3$857M
- Year 4$750M
- Year 5—
- Later—
From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.
Insiders (Form 4)
10% owners who bought (6 m): 0
Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.
Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →
Above 5% (13D/13G)
Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.
This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.
Above 5% over time (13D/13G)
Each holder with its filings in order. History since December 2024.
This company filed no 8-K forms in the last year. Foreign companies listed in the US (ADRs) report material events on forms 6-K and 20-F, and ETFs and funds do not file 8-Ks. If it is a foreign company listed in the US through ADRs (American Depositary Receipts), what trades are bank-issued certificates that represent shares from its home market. See its filings on EDGAR ↗
Other Health Care stocks in managers' portfolios
Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.
- CVS HealthCVS · 18 managers
- HumanaHUM · 18 managers
- Disc MedicineIRON · 19 managers
- HCA HealthcareHCA · 17 managers
- Trevi TherapeuticsTRVI · 17 managers
- Cogent BiosciencesCOGT · 16 managers