Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. US stocks concluded a strong year with strong gains in Q4. In Q4, the portfolio's performance was flat and narrowly trailed the Russell 2000® Growth Index. In 2024, the portfolio produced a robust absolute return that was in line with the Russell 2000® Growth Index but outperformed the Russell 2000 Index. In the quarter, its Investor Class fund ARTSX returned 0.61%, Advisor Class fund APDSX posted a return of 0.66%, and Institutional Class fund APHSX returned 0.67%, compared to a return of 1.70% for the Russell 2000 Growth Index. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2024.

In its fourth quarter 2024 investor letter, Artisan Small Cap Fund emphasized stocks such as Argenx SE (NASDAQ:ARGX). Argenx SE (NASDAQ:ARGX) is a biotechnology company focuses on developing therapies for the treatment of autoimmune diseases. The one-month return of Argenx SE (NASDAQ:ARGX) was -11.67%, and its shares gained 48.31% of their value over the last 52 weeks. On March 10, 2025, Argenx SE (NASDAQ:ARGX) stock closed at $571.00 per share with a market capitalization of $36.4 billion.

Artisan Small Cap Fund stated the following regarding Argenx SE (NASDAQ:ARGX) in its Q4 2024 investor letter:

"We ended our investment campaigns in Argenx SE (NASDAQ:ARGX), Tyler Technologies and Interparfums. Shares of Argenx have continued their year-to-date ascent due to multiple positive developments, including FDA approval to promote VYVGART® for chronic inflammatory demyelinating polyradiculoneuropathy (CIDP) and strong sales execution of VYVGART®’s first approved indication in myasthenia gravis. While we continue to have high conviction, the company has outgrown our small-cap mandate, and we exited our position after a successful multiyear investment campaign."

A lab setting filled with scientific equipment and researchers in lab coats working together to develop new therapies for autoimmune diseases.

Argenx SE (NASDAQ:ARGX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held Argenx SE (NASDAQ:ARGX) at the end of the fourth quarter which was 43 in the previous quarter. While we acknowledge the potential of Argenx SE (NASDAQ:ARGX) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article, we discussed Argenx SE (NASDAQ:ARGX) and shared Baron Health Care Fund's views on the company. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.

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