Artisan Mid Cap Fund Maintains Its Confidence in Argenx’s (ARGX) VYVGART

Core Viewpoint - Artisan Mid Cap Fund's fourth-quarter 2025 investor letter highlights the fund's performance and key stock contributions, particularly focusing on Argenx SE, which has shown significant growth in sales and market capitalization despite some recent setbacks in clinical trials [1][3]. Fund Performance - The Artisan Mid Cap Fund's Investor Class, ARTMX, delivered -0.44%, Advisor Class, APDMX, delivered -0.37%, and Institutional Class, APHMX, delivered -0.35% in Q4 2025, compared to -3.70% for the Russell Midcap® Growth Index [1]. - The performance was bolstered by continued strength in the information technology and healthcare sectors [1]. Key Holdings - Argenx SE (NASDAQ:ARGX) is identified as a leading contributor to the fund's quarterly performance, with a market capitalization of $51.131 billion [2][3]. - The stock closed at $826.25 per share on February 23, 2026, with a one-month return of -0.83% and a 52-week gain of 31.96% [2]. Argenx SE Insights - Argenx SE's VYVGART® sales nearly doubled year-over-year, increasing by 96% to over $4 billion, driven by new patient uptake following the launch of its prefilled syringe formulation [3]. - Despite a recent stock pullback due to the discontinuation of a mid-stage trial for thyroid eye disease, the company remains optimistic about VYVGART®'s potential for additional indications [3]. Hedge Fund Interest - Argenx SE is not among the 30 most popular stocks among hedge funds, with 47 hedge fund portfolios holding the stock at the end of Q4, down from 50 in the previous quarter [4].