Performance Overview - Baron Health Care Fund increased 5.39% in Q3 2025, outperforming the Russell 3000 Health Care Index's 5.05% but underperforming the Russell 3000 Index's 8.18% [2][3] - Since inception on April 30, 2018, the Fund has achieved an annualized return of 9.30%, compared to 8.68% for the Benchmark and 14.48% for the Index [2][4] Key Contributors - Strong stock selection in biotechnology, particularly from argenx SE and Insmed Incorporated, contributed significantly to the Fund's performance [5] - Argenx's Vyvgart sales exceeded expectations, while Insmed's Brinsupri received U.S. approval, representing a $5 billion-plus opportunity [5][16] - Investments in health care services, particularly RadNet, Inc. and Heartflow, Inc., also added value, with RadNet's shares rising due to strong quarterly results and guidance [6][7][17] Key Detractors - Poor stock selection in health care equipment, particularly from Masimo Corporation and Boston Scientific Corporation, negatively impacted performance [8][9] - Eli Lilly's stock fell due to disappointing Phase 3 trial results for orforglipron, alongside broader regulatory uncertainties affecting the pharmaceutical sector [12][21] - The Fund's underweight position in Johnson & Johnson, which saw a 22.3% increase, also detracted from relative performance [12] Portfolio Structure - The Fund held 46 stocks, with a significant overweight in biotechnology (31.8%) and health care equipment (24.0%), while being underweight in pharmaceuticals (15.2%) [24][28] - The top 10 holdings represented 47.8% of net assets, with Eli Lilly and argenx being the largest positions [26] Recent Activity - The Fund added 16 new positions and exited five, maintaining a focus on attractive valuations in the health care sector [29] - Notable purchases included AbbVie Inc., UnitedHealth Group, and Roivant Sciences, while positions in argenx and Eli Lilly were reduced to manage risk [30][31][37] Market Outlook - The health care sector is expected to offer attractive investment opportunities driven by demographic trends, chronic disease prevalence, and technological advancements [14][40] - Recent agreements, such as Pfizer's MFN pricing deal, are seen as positive for the pharmaceutical sector, with limited financial impact anticipated [38]

Accessibility StatementSkip Navigation — If Approved, BRINSUPRI Would Be the First and Only Treatment in the European Union for Non-Cystic Fibrosis Bronchiectasis (NCFB) and the First-in-Class DPPI Inhibitor Targeting Neutrophilic Inflammation —Â Â BRINSUPRI Was Reviewed Under CHMP's Accelerated Assessment Pathway as It Is Considered of Major Interest for Public Health and Therapeutic Innovation — BRIDGEWATER, N.J., Oct. 17, 2025 /PRNewswire/ --Â Insmed Incorporated (Nasdaq: INSM), a people-first global bio ...

Accessibility StatementSkip Navigation —Data on Structural Lung Changes from a High-Resolution CT Substudy to be Presented as Late-Breaker— BRINSUPRIâ"¢ (brensocatib) is a small molecule, once-daily, oral, reversible inhibitor of dipeptidyl peptidase 1 (DPP1) indicated for the treatment of non-cystic fibrosis bronchiectasis (NCFB) in adult and pediatric patients 12 years of age or older. Brensocatib is designed to inhibit the activation of enzymes (neutrophil serine proteases) in neutrophils that are key dr ...

Group 1: Artisan Mid Cap Fund Performance - Artisan Mid Cap Fund's Investor Class fund ARTMX returned 8.80%, Advisor Class fund APDMX also posted a return of 8.80%, and Institutional Class fund APHMX returned 8.83% in Q3 2025, significantly outperforming the Russell Midcap Growth Index which returned 2.78% [1] - The strong performance was primarily driven by holdings in the health care sector [1] Group 2: Insmed Incorporated Overview - Insmed Incorporated (NASDAQ:INSM) is a biopharmaceutical company focused on developing therapeutic products for serious and rare diseases, with a one-month return of 11.47% and a 52-week gain of 110.54% [2] - As of October 14, 2025, Insmed's stock closed at $161.38 per share, with a market capitalization of $34.112 billion [2] Group 3: Insmed's Product Pipeline and Market Potential - Insmed's lead product, ARIKAYCE®, is an inhaled antibiotic for lung infections resistant to standard therapies, and the company recently received FDA approval for Brinsupri™, a once-daily oral treatment for non-cystic fibrosis bronchiectasis [3] - Brinsupri™ addresses a significant unmet need with over one million diagnosed patients in the US, Europe, and Japan, and is expected to see rapid adoption [3] - Insmed has a promising pipeline, including a third de-risked drug candidate with multibillion-dollar potential [3] Group 4: Hedge Fund Interest in Insmed - At the end of Q2 2025, 82 hedge fund portfolios held Insmed Incorporated (NASDAQ:INSM), an increase from 64 in the previous quarter [4]

"All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies", said Warren Buffet, reminding us that patience and discipline are key to successful investing. Stocks quietly climbing to new 52-week highs could be a sign that the market is recognizing consistent performance, strong fundamentals, or upcoming catalysts.The following are some of the stocks that hit new 52-week highs yesterday. Do you already own any of them? Are any on your watchlis ...

Insmed (INSM) is a biopharmaceutical company with strong momentum. Shares are trading at new 20-year highs. INSM has surged 128% over the past year. Analysts expect robust revenue and earnings growth, but opinions are mixed, with some cautioning the stock is overvalued. Today’s Featured Stock Valued at $34.3 billion, Insmed (INSM) is a biopharmaceutical company engaged in the development and commercialization of ARIKAYCE, a treatment for rare lung conditions. Insmed is also focused on the devel ...

Group 1 - Insmed Incorporated (NASDAQ:INSM) is recognized as a promising biotech stock, with Public Employees Retirement System of Ohio acquiring 55,425 shares valued at approximately $5,578,000 in the second quarter [1] - The company has experienced significant market value growth of about $27 billion over the past 18 months, focusing on three key franchises: ARIKAYCE, brensocatib, and TPIP [2] - Insmed raised $650 million, enhancing its business mix with multibillion-dollar compounds, indicating a strong potential for long-term growth by addressing unmet medical needs [3] Group 2 - Insmed specializes in therapies for serious and rare diseases, aiming to transform the lives of its patients since its founding in 1988 [4]

Key Takeaways United Therapeutics' TETON-2 study showed Tyvaso improved lung function in IPF patients.Benefits were consistent across subgroups, with safety aligning with prior Tyvaso studies.UTHR plans FDA talks this year, with TETON-1 study results expected in early 2026.United Therapeutics (UTHR) remains poised to expand Tyvaso’s label in the respiratory disease space. It recently unveiled results from the late-stage TETON-2 study, which showed clinical benefit in idiopathic pulmonary fibrosis (IPF) pati ...

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. This article is intended to provide informational content and should not be viewed as an exhaustive an ...

Group 1 - Mergers and acquisitions (M&A) activity has increased significantly in 2025, with a 29% rise in deal value year-over-year and an 8% increase in the number of deals [3][4] - Electronic Arts is set to be taken private in the largest leveraged buyout ever, resulting in a stock price increase of over 20% in two days following the announcement [1] - Goldman Sachs predicts a further 15% growth in the number of M&A deals in 2026, driven by improving economic conditions and CEO confidence [4] Group 2 - A basket of potential M&A candidates has outperformed the S&P 1500 by seven percentage points since early September [2] - Goldman Sachs has identified six stocks with a 30% to 50% chance of being acquired in the next 12 months, highlighting their potential as M&A targets [3][4] - The identified stocks include companies from the health care sector, such as Insmed, Madrigal Pharmaceuticals, Krystal Biotech, Mineralys Therapeutics, and Vera Therapeutics, with varying market capitalizations and year-to-date total returns [5][6][7][8][9]