Upwork
UPWK
214 hedge funds and large institutions have $960M invested in Upwork in 2023 Q2 according to their latest regulatory filings, with 33 funds opening new positions, 76 increasing their positions, 69 reducing their positions, and 46 closing their positions.
10% more repeat investments, than reductions
Existing positions increased: 76 | Existing positions reduced: 69
4.77% more ownership
Funds ownership: 72.34% → 77.11% (+4.8%)
0% more funds holding in top 10
Funds holding in top 10: 4 → 4 (0)
7% less funds holding
Funds holding: 229 → 214 (-15)
11% less capital invested
Capital invested by funds: $1.08B → $960M (-$124M)
28% less first-time investments, than exits
New positions opened: 33 | Existing positions closed: 46
33% less call options, than puts
Call options by funds: $6.96M | Put options by funds: $10.4M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
+$46.6M |
| 2 |
AA
Ancient Art
Austin,
Texas
|
+$25.2M |
| 3 |
DAM
Dorsey Asset Management
Chicago,
Illinois
|
+$19M |
| 4 |
Vanguard Group
Malvern,
Pennsylvania
|
+$19M |
| 5 |
ICM
Invenomic Capital Management
Boston,
Massachusetts
|
+$15.2M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HRCM
Hawk Ridge Capital Management
Los Angeles,
California
|
-$62M |
| 2 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
-$22.3M |
| 3 |
Macquarie Group
Sydney, NSW 2000,
Australia
|
-$17.1M |
| 4 |
PAMP
Polar Asset Management Partners
Toronto,
Ontario, Canada
|
-$8.37M |
| 5 |
Federated Hermes
Pittsburgh,
Pennsylvania
|
-$6.64M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
EI
251
Ellevest Inc
New York
| – | -$6.46K | -571 | Closed |
|
|
GWSG
252
GPS Wealth Strategies Group
Centennial,
Colorado
| – | -$5.66K | -500 | Closed |
|
|
MHR
253
Matthew Hamilton Rosenberg
| – | -$3.62K | -320 | Closed |
|
254
Lazard Asset Management
New York
| – | -$3K | -292 | Closed |
|
|
MCM
255
Manchester Capital Management
Manchester,
Vermont
| – | -$861 | -76 | Closed |
|
|
AWM
256
Accel Wealth Management
Waverly,
Iowa
| – | -$849 | -75 | Closed |
|
|
BWL
257
Bogart Wealth LLC
Mclean,
Virginia
| – | -$691 | -61 | Closed |
|
|
AA
258
Ancora Advisors
Cleveland,
Ohio
| – | -$340 | -30 | Closed |
|
|
FAM
259
Fred Alger Management
New York
| – | -$204 | -18 | Closed |
|
UPWK Hedge Fund Activity: Q2 2023 in Review
214 of the 6,369 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q2 2023, worth a combined $960M — down 11% from $1.08B a quarter earlier.
Sellers outnumbered buyers: 46 funds closed out of UPWK and 33 opened new positions — a net loss of 13 holders — while 69 trimmed existing stakes and 76 added.
The largest buyer was Bank of America, adding an estimated $46.6M. The largest seller was Hawk Ridge Capital Management, exiting entirely with an estimated $62M sold.
- 214 institutional investors held Upwork (UPWK) as of Q2 2023, down from 229 in Q1 2023.
- Funds reported $960M of Upwork stock for Q2 2023, down 11% quarter-over-quarter.
- 33 funds opened new Upwork positions in Q2 2023 and 46 closed out, a net change of -13 holders.
- The largest Upwork buyer in Q2 2023 was Bank of America, an estimated $46.6M added.
- The largest Upwork seller in Q2 2023 was Hawk Ridge Capital Management, an estimated $62M sold.
Based on aggregated 13F filings for Q2 2023.