Core Insights - Baron Health Care Fund reported a 13.10% increase in Q4, outperforming the Russell 3000 Health Care Index's 11.92% and the Russell 3000 Index's 2.40% [1] - The fund's annual return was 10.28%, compared to 14.56% and 17.15% for the respective indexes [1] - The fund focuses on businesses with sustainable competitive advantages and strong management, particularly in the healthcare sector, which is expected to show positive momentum through 2026 [1] Company Highlights - Argenx SE (NASDAQ:ARGX) significantly contributed to the fund's performance, with a one-month return of 4.04% and a 52-week gain of 26.86% [2] - As of February 5, 2026, Argenx SE's stock closed at $820.31, with a market capitalization of $50.764 billion [2] - The company is recognized for its leading FcRn inhibitor, Vyvgart, which has exceeded sales expectations and is expected to have strong long-term growth potential [3] Market Position - Argenx SE is not among the top 30 most popular stocks among hedge funds, with 50 hedge fund portfolios holding its shares at the end of Q3, a slight decrease from 53 in the previous quarter [4] - While Argenx SE is viewed as a potential investment, there are AI stocks considered to have greater upside potential and lower downside risk [4]