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Upwork
UPWK

258 hedge funds and large institutions have $1.71B invested in Upwork in 2023 Q4 according to their latest regulatory filings, with 59 funds opening new positions, 84 increasing their positions, 83 reducing their positions, and 31 closing their positions.

New
Increased
Maintained
Reduced
Closed

90% more first-time investments, than exits

New positions opened: 59 | Existing positions closed: 31

38% more capital invested

Capital invested by funds: $1.24B → $1.71B (+$469M)

14% more funds holding in top 10

Funds holding in top 10: 7 → 8 (+1)

11% more funds holding

Funds holding: 232 → 258 (+26)

4.83% more ownership

Funds ownership: 78.26% → 83.1% (+4.8%)

1% more repeat investments, than reductions

Existing positions increased: 84 | Existing positions reduced: 83

8% less call options, than puts

Call options by funds: $35.3M | Put options by funds: $38.6M

Holders
258
Holders Change
+26
Holders Change %
+11.21%
% of All Funds
3.76%
Holding in Top 10
8
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+14.29%
% of All Funds
0.12%
New
59
Increased
84
Reduced
83
Closed
31
Calls
$35.3M
Puts
$38.6M
Net Calls
-$3.21M
Net Calls Change
+$1.09M

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$47.4M
2
Goldman Sachs
Goldman Sachs
New York
+$20.5M
3
Assenagon Asset Management
Assenagon Asset Management
Luxembourg
+$16.6M
4
DSCM
Divisadero Street Capital Management
Florida
+$11.1M
5
BlackRock
BlackRock
New York
+$10.9M

Top Sellers

Rank Fund Capital Flow
1
Citadel Advisors
Citadel Advisors
Florida
-$26.8M
2
DAM
Dorsey Asset Management
Illinois
-$21.6M
3
MCO
MAK Capital One
New York
-$15.5M
4
ICM
Invenomic Capital Management
Massachusetts
-$10.3M
5
DCM
Driehaus Capital Management
Illinois
-$8.37M
Name Holding Trade Value Shares
Change 		Change in
Stake
WP
276
Woodline Partners
California
– -$148K -13,019 Closed
SPA
277
Sherbrooke Park Advisers
New York
– -$135K -11,864 Closed
Mercer Global Advisors
278
Mercer Global Advisors
Colorado
– -$132K -11,617 Closed
TSS
279
Two Sigma Securities
New York
– -$116K -10,198 Closed
Parallax Volatility Advisers
280
Parallax Volatility Advisers
California
– -$129K -10,000 Closed
ELI
281
Empire Life Investments
Ontario, Canada
– -$103K -9,092 Closed
CIA
282
Cape Investment Advisory
Georgia
– -$2.27K -200 Closed
Northwestern Mutual Wealth Management
283
Northwestern Mutual Wealth Management
Wisconsin
– -$1.57K -138 Closed
RCM
284
Raleigh Capital Management
North Carolina
– -$1K -88 Closed
BAAM
285
Baker Avenue Asset Management
California
– -$897 -79 Closed
Creative Planning
286
Creative Planning
Kansas
– -$284 -25 Closed
CB
287
CNB Bank
Pennsylvania
– -$182 -16 Closed
YAL
288
Your Advocates Ltd
Texas
– -$114 -10 Closed
C
289
Covestor
United Kingdom
– -$13 -1 -8%
8 9 10 11
12

UPWK Hedge Fund Activity: Q4 2023 in Review

258 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q4 2023, worth a combined $1.71B — up 38% from $1.24B a quarter earlier.

Buyers outnumbered sellers: 59 funds opened new UPWK positions and 31 closed out — a net gain of 28 holders — while 84 added to existing stakes and 83 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $47.4M. The largest seller was Citadel Advisors, cutting an estimated $26.8M.

  • 258 institutional investors held Upwork (UPWK) as of Q4 2023, up from 232 in Q3 2023.
  • Funds reported $1.71B of Upwork stock for Q4 2023, up 38% quarter-over-quarter.
  • 59 funds opened new Upwork positions in Q4 2023 and 31 closed out, a net change of +28 holders.
  • The largest Upwork buyer in Q4 2023 was Morgan Stanley, an estimated $47.4M added.
  • The largest Upwork seller in Q4 2023 was Citadel Advisors, an estimated $26.8M sold.

Based on aggregated 13F filings for Q4 2023.