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268 hedge funds and large institutions have $1.58B invested in Upwork in 2025 Q2 according to their latest regulatory filings, with 46 funds opening new positions, 105 increasing their positions, 84 reducing their positions, and 52 closing their positions.

New
Increased
Maintained
Reduced
Closed

25% more repeat investments, than reductions

Existing positions increased: 105 | Existing positions reduced: 84

2.81% more ownership

Funds ownership: 86.53%89.34% (+2.8%)

3% more capital invested

Capital invested by funds: $1.53B → $1.58B (+$50.3M)

0% more funds holding in top 10

Funds holding in top 10: 44 (0)

3% less funds holding

Funds holding: 277268 (-9)

12% less first-time investments, than exits

New positions opened: 46 | Existing positions closed: 52

31% less call options, than puts

Call options by funds: $12.8M | Put options by funds: $18.5M

Holders
268
Holders Change
-9
Holders Change %
-3.25%
% of All Funds
3.53%
Holding in Top 10
4
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
0.05%
New
46
Increased
105
Reduced
84
Closed
52
Calls
$12.8M
Puts
$18.5M
Net Calls
-$5.74M
Net Calls Change
+$2.21M
Name Holding Trade Value Shares
Change
Change in
Stake
Comerica Bank
226
Comerica Bank
Texas
$26.3K +$2.79K +194 +11%
FDCDDQ
227
Federation des caisses Desjardins du Quebec
Quebec, Canada
$24.8K -$4.52K -315 -15%
PA
228
Parallel Advisors
California
$19.9K +$632 +44 +3%
BNP Paribas Asset Management
229
BNP Paribas Asset Management
France
$18K +$18.8K +1,313 New
BIA
230
Bell Investment Advisors
California
$17.9K +$675 +47 +4%
VCM
231
Versant Capital Management
Arizona
$16.4K +$6.22K +433 +55%
S
232
SignatureFD
Georgia
$15.9K +$6.06K +422 +56%
Jones Financial Companies
233
Jones Financial Companies
Missouri
$13.6K -$61.4K -4,278 -81%
CIAM
234
Caitong International Asset Management
Hong Kong
$11.5K +$8.59K +598 +231%
FHA
235
First Horizon Advisors
Tennessee
$10.5K
NC
236
NewSquare Capital
Pennsylvania
$9.47K
ACM
237
Aster Capital Management
United Arab Emirates
$7.15K -$12.3K -855 -62%
FFA
238
Farther Finance Advisors
California
$6.18K -$6.91K -481 -51%
MCM
239
MAI Capital Management
Ohio
$4.53K
HI
240
Harbour Investments
Wisconsin
$4.39K -$60.6K -4,222 -93%
SPIA
241
Steward Partners Investment Advisory
New York
$3.96K
GI
242
GAMMA Investing
California
$3.51K -$732 -51 -16%
CMBA
243
C.M. Bidwell & Associates
Hawaii
$3.37K +$3.6K +251 New
CSPIA
244
Cary Street Partners Investment Advisory
Virginia
$3.36K
RIL
245
Rothschild Investment LLC
Illinois
$3.02K +$646 +45 +25%
LFG
246
Larson Financial Group
Missouri
$2.94K +$2.8K +195 +813%
HNB
247
Huntington National Bank
Ohio
$2.69K
BBHC
248
Brown Brothers Harriman & Co
New York
$2.27K +$2.43K +169 New
TWD
249
True Wealth Design
Ohio
$2.26K +$144 +10 +6%
Optiver Holding
250
Optiver Holding
Netherlands
$2.19K

UPWK Hedge Fund Activity: Q2 2025 in Review

268 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q2 2025, worth a combined $1.58B — up 3.3% from $1.53B a quarter earlier.

Sellers outnumbered buyers: 52 funds closed out of UPWK and 46 opened new positions — a net loss of 6 holders — while 84 trimmed existing stakes and 105 added.

The largest buyer was Morgan Stanley, adding an estimated $23.3M. The largest seller was T. Rowe Price Investment Management, cutting an estimated $41.6M.

  • 268 institutional investors held Upwork (UPWK) as of Q2 2025, down from 277 in Q1 2025.
  • Funds reported $1.58B of Upwork stock for Q2 2025, up 3.3% quarter-over-quarter.
  • 46 funds opened new Upwork positions in Q2 2025 and 52 closed out, a net change of -6 holders.
  • The largest Upwork buyer in Q2 2025 was Morgan Stanley, an estimated $23.3M added.
  • The largest Upwork seller in Q2 2025 was T. Rowe Price Investment Management, an estimated $41.6M sold.

Based on aggregated 13F filings for Q2 2025.