Hers’s Why Baron Opportunity Fund Trimmed argenx SE (ARGX)

Baron Funds, an investment management company, released its “Baron Opportunity Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund outperformed the broader market and increased by 17.96% (Institutional Shares) compared to a 13.85% return for the Russell 3000 Growth Index and a 7.50% return for the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Baron Opportunity Fund highlighted stocks like argenx SE (NASDAQ:ARGX) in the Q1 2023 investor letter. Headquartered in Amsterdam, the Netherlands, Argenx SE (NASDAQ:ARGX) is a biotechnology company. On May 11, 2023, Argenx SE (NASDAQ:ARGX) stock closed at $406.85 per share. One-month return of Argenx SE (NASDAQ:ARGX) was 5.28%, and its shares gained 40.15% of their value over the last 52 weeks. Argenx SE (NASDAQ:ARGX) has a market capitalization of $22.666 billion.

Baron Opportunity Fund made the following comment about Argenx SE (NASDAQ:ARGX) in its Q1 2023 investor letter:

“Our sales of Gartner, Inc. and Argenx SE (NASDAQ:ARGX) were both trims because the stocks performed relatively better than the rest of the portfolio last year and increased in position size. As you can see in Table IV, Gartner remains a top six position in the portfolio; argenx remains just outside of the top 10 and our largest biotechnology investment.”

Sergey Nivens/Shutterstock.com

Argenx SE (NASDAQ:ARGX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Argenx SE (NASDAQ:ARGX) at the end of the fourth quarter, which was 36 in the previous quarter.

We discussed Argenx SE (NASDAQ:ARGX) in another article and shared the list of high growth large cap stocks to invest in. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.