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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
PS
251
Principal Securities
Iowa
$2.18K +$2.33K +162 New
PWMG
252
Private Wealth Management Group
New Jersey
$2.12K
C
253
Covestor
United Kingdom
$2K -$57 -4 -3%
SAM
254
Smartleaf Asset Management
Massachusetts
$1.95K +$1.82K +127 +794%
CA
255
Clearstead Advisors
Ohio
$1.72K -$4.68K -326 -72%
EB
256
Eastern Bank
Massachusetts
$1.34K
MWA
257
Medallion Wealth Advisors
Connecticut
$1.34K
MPWT
258
MassMutual Private Wealth & Trust
Connecticut
$1.16K -$1.13K -79 -48%
AF
259
Allworth Financial
California
$1.14K -$675 -47 -36%
CIA
260
Cape Investment Advisory
Georgia
$1.05K -$10.4K -722 -90%
EP
261
Essential Partners
California
$1.01K +$1.08K +75 New
WTC
262
WhitTier Trust Company
Nevada
$954
Fifth Third Bancorp
263
Fifth Third Bancorp
Ohio
$941 +$603 +42 +150%
PSFG
264
Park Square Financial Group
Georgia
$712
BIG
265
Brooklyn Investment Group
New York
$619 -$3.43K -239 -84%
PPC
266
Park Place Capital
Alabama
$595
PFBT
267
Parkside Financial Bank & Trust
Missouri
$532 -$301 -21 -35%
AWM
268
Accredited Wealth Management
Kentucky
$336
National Bank of Canada
269
National Bank of Canada
Quebec, Canada
$241 -$660 -46 -72%
PCM
270
Portolan Capital Management
Massachusetts
-$8.41M -644,548 Closed
ICM
271
Invenomic Capital Management
Massachusetts
-$6.06M -464,564 Closed
Point72 Asset Management
272
Point72 Asset Management
Connecticut
-$5M -383,023 Closed
JF
273
Jump Financial
Illinois
-$3.21M -245,803 Closed
RAM
274
RedJay Asset Management
Ontario, Canada
-$2.68M -205,000 Closed
AACP
275
Advantage Alpha Capital Partners
California
-$2.39M -182,816 Closed

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.