Upwork
UPWK
232 hedge funds and large institutions have $1.24B invested in Upwork in 2023 Q3 according to their latest regulatory filings, with 45 funds opening new positions, 84 increasing their positions, 71 reducing their positions, and 24 closing their positions.
88% more first-time investments, than exits
New positions opened: 45 | Existing positions closed: 24
75% more funds holding in top 10
Funds holding in top 10: 4 → 7 (+3)
29% more capital invested
Capital invested by funds: $960M → $1.24B (+$281M)
18% more repeat investments, than reductions
Existing positions increased: 84 | Existing positions reduced: 71
8% more funds holding
Funds holding: 214 → 232 (+18)
1.16% more ownership
Funds ownership: 77.11% → 78.26% (+1.2%)
19% less call options, than puts
Call options by funds: $18.9M | Put options by funds: $23.2M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FGAM
Financial Gravity Asset Management
Lakeway,
Texas
|
+$46.2M |
| 2 |
Lord, Abbett & Co
Jersey City,
New Jersey
|
+$18.6M |
| 3 |
N
Nuveen
Charlotte,
North Carolina
|
+$18.1M |
| 4 |
MCO
MAK Capital One
New York
|
+$17M |
| 5 |
Millennium Management
New York
|
+$14.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
-$67.8M |
| 2 |
Capital International Investors
Los Angeles,
California
|
-$36.9M |
| 3 |
Baillie Gifford & Co
Edinburgh,
United Kingdom
|
-$21.2M |
| 4 |
D.E. Shaw & Co
New York
|
-$19.8M |
| 5 |
Deutsche Bank
Frankfurt Am Main Ge,
Germany
|
-$13.9M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
C
251
Covestor
London,
United Kingdom
| – | -$16.8K | -1,353 | -99% |
|
|
CWM
252
Compass Wealth Management
Guilford,
Connecticut
| – | -$3.74K | -400 | Closed |
|
|
CSPIA
253
Cary Street Partners Investment Advisory
Richmond,
Virginia
| – | -$2.57K | -275 | Closed |
|
|
TPCW
254
TD Private Client Wealth
New York
| – | -$934 | -100 | Closed |
|
255
Point72 Asset Management
Stamford,
Connecticut
| – | -$592 | -63 | Closed |
|
|
EC
256
Elequin Capital
New York
| – | -$252 | -27 | Closed |
|
UPWK Hedge Fund Activity: Q3 2023 in Review
232 of the 6,301 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q3 2023, worth a combined $1.24B — up 29% from $960M a quarter earlier.
Buyers outnumbered sellers: 45 funds opened new UPWK positions and 24 closed out — a net gain of 21 holders — while 84 added to existing stakes and 71 trimmed.
The largest buyer was Financial Gravity Asset Management, adding an estimated $46.2M. The largest seller was Bank of America, cutting an estimated $67.8M.
- 232 institutional investors held Upwork (UPWK) as of Q3 2023, up from 214 in Q2 2023.
- Funds reported $1.24B of Upwork stock for Q3 2023, up 29% quarter-over-quarter.
- 45 funds opened new Upwork positions in Q3 2023 and 24 closed out, a net change of +21 holders.
- The largest Upwork buyer in Q3 2023 was Financial Gravity Asset Management, an estimated $46.2M added.
- The largest Upwork seller in Q3 2023 was Bank of America, an estimated $67.8M sold.
Based on aggregated 13F filings for Q3 2023.