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What Makes ICON Public Limited Company (ICLR) a High-Quality Contender in the CRO Industry?

Fiduciary Management Inc. (FMI), an independent money management firm, released its “FMI International Equity Strategy (Unhedged)” fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. The investment philosophy of the firm is to invest in durable business franchises that are selling at a discount to their intrinsic value. In the fourth quarter, the strategy returned -7.24% (gross) and -7.41% (net) compared to -8.36% return for the iShares MSCI EAFE ETF. In addition, please check the fund’s top five holdings to know its best picks in 2024.

FMI...