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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
Schroder Investment Management Group
276
Schroder Investment Management Group
United Kingdom
-$1.76M -133,570 Closed
SFI
277
Susquehanna Fundamental Investments
Pennsylvania
-$1.35M -103,140 Closed
NCFG
278
New Century Financial Group
New Jersey
-$886K -67,869 Closed
BPC
279
Bryce Point Capital
New York
-$1M -66,499 Closed
DFCM
280
Dark Forest Capital Management
Puerto Rico
-$835K -63,976 Closed
BA
281
Bristlecone Advisors
Washington
-$814K -62,405 Closed
CF
282
Corebridge Financial
Texas
-$796K -61,027 Closed
Cambridge Investment Research Advisors
283
Cambridge Investment Research Advisors
Iowa
-$709K -54,365 Closed
IQI
284
Integrated Quantitative Investments
Washington
-$686K -52,565 Closed
TGM
285
Tenzing Global Management
California
-$653K -50,000 Closed
AIMCA
286
Alberta Investment Management Corp (AIMCo)
Alberta, Canada
-$504K -38,584 Closed
HighTower Advisors
287
HighTower Advisors
Illinois
-$405K -31,012 Closed
MFIM
288
Mesirow Financial Investment Management
Illinois
-$347K -27,228 Closed
BC
289
Bridgefront Capital
Texas
-$322K -24,696 Closed
OAM
290
Oxford Asset Management
United Kingdom
-$313K -23,972 Closed
BA
291
Bridgewater Associates
Connecticut
-$289K -22,175 Closed
JFG
292
Jefferies Financial Group
New York
-$284K -21,760 Closed
SA
293
Sanctuary Advisors
Indiana
-$276K -21,185 Closed
Group One Trading
294
Group One Trading
Illinois
-$252K -17,544 Closed
FGP
295
Freestone Grove Partners
California
-$220K -16,866 Closed
KAS
296
Kestra Advisory Services
Texas
-$200K -15,308 Closed
MML Investors Services
297
MML Investors Services
Massachusetts
-$194K -14,847 Closed
PWM
298
Prosperity Wealth Management
California
-$166K -12,750 Closed
SPA
299
Sherbrooke Park Advisers
New York
-$166K -12,746 Closed
N
300
Numerai
California
-$156K -11,978 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.