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218 hedge funds and large institutions have $1.02B invested in Upwork in 2022 Q4 according to their latest regulatory filings, with 33 funds opening new positions, 83 increasing their positions, 67 reducing their positions, and 38 closing their positions.

New
Increased
Maintained
Reduced
Closed

124% more call options, than puts

Call options by funds: $22M | Put options by funds: $9.82M

24% more repeat investments, than reductions

Existing positions increased: 83 | Existing positions reduced: 67

0% more funds holding in top 10

Funds holding in top 10: 55 (0)

3.96% less ownership

Funds ownership: 78.25%74.29% (-4%)

4% less funds holding

Funds holding: 228218 (-10)

13% less first-time investments, than exits

New positions opened: 33 | Existing positions closed: 38

27% less capital invested

Capital invested by funds: $1.39B → $1.02B (-$371M)

Holders
218
Holders Change
-10
Holders Change %
-4.39%
% of All Funds
3.5%
Holding in Top 10
5
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
0.08%
New
33
Increased
83
Reduced
67
Closed
38
Calls
$22M
Puts
$9.82M
Net Calls
+$12.1M
Net Calls Change
+$11.7M
Name Holding Trade Value Shares
Change
Change in
Stake
CSS
26
Cubist Systematic Strategies
Connecticut
$9.54M +$3.22M +260,831 +40%
Charles Schwab
27
Charles Schwab
California
$9.29M +$288K +23,371 +3%
ICM
28
Invenomic Capital Management
Massachusetts
$9.18M +$10.8M +879,317 New
CS
29
Candriam SCA
Luxembourg
$8.96M +$4M +324,190 +61%
FCM
30
Frontier Capital Management
Massachusetts
$8.5M -$267K -21,613 -3%
KCM
31
Kornitzer Capital Management
Kansas
$7.82M
CS
32
Credit Suisse
Switzerland
$7.41M +$397K +32,205 +5%
Morgan Stanley
33
Morgan Stanley
New York
$6.8M -$405K -32,808 -5%
BC
34
BIT Capital
Germany
$5.84M -$8.14M -659,507 -54%
FSCM
35
First Sabrepoint Capital Management
Texas
$5.74M +$802K +65,000 +13%
BCM
36
Bares Capital Management
Texas
$5.22M
N
37
Nuveen
North Carolina
$5.08M -$674K -54,626 -10%
JP Morgan Chase
38
JP Morgan Chase
New York
$5M +$3.67M +297,809 +164%
Goldman Sachs
39
Goldman Sachs
New York
$4.98M -$4.1M -332,570 -41%
N
40
Numerai
California
$4.55M +$5.38M +435,787 New
Bank of New York Mellon
41
Bank of New York Mellon
New York
$4.44M -$530K -42,953 -9%
Bank of America
42
Bank of America
North Carolina
$4.24M +$2.69M +218,340 +116%
PCM
43
Penserra Capital Management
California
$3.69M +$1.36M +110,486 +45%
Tudor Investment Corp
44
Tudor Investment Corp
Connecticut
$3.43M +$4.06M +328,788 New
VOYA Investment Management
45
VOYA Investment Management
Georgia
$3.18M -$2.3M -186,821 -38%
Swiss National Bank
46
Swiss National Bank
Switzerland
$2.96M +$85.1K +6,900 +2%
AACP
47
Advantage Alpha Capital Partners
California
$2.87M -$946K -76,660 -22%
PAMP
48
Polar Asset Management Partners
Ontario, Canada
$2.74M -$1.96M -159,200 -38%
FAM
49
Fred Alger Management
New York
$2.66M +$679 +55 +0%
ASGS
50
Alpha Square Group S
New York
$2.66M

UPWK Hedge Fund Activity: Q4 2022 in Review

218 of the 6,221 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q4 2022, worth a combined $1.02B — down 27% from $1.39B a quarter earlier.

Sellers outnumbered buyers: 38 funds closed out of UPWK and 33 opened new positions — a net loss of 5 holders — while 67 trimmed existing stakes and 83 added.

The largest buyer was Capital International Investors, adding an estimated $66.1M. The largest seller was Jackson Square Partners, exiting entirely with an estimated $96.4M sold.

  • 218 institutional investors held Upwork (UPWK) as of Q4 2022, down from 228 in Q3 2022.
  • Funds reported $1.02B of Upwork stock for Q4 2022, down 27% quarter-over-quarter.
  • 33 funds opened new Upwork positions in Q4 2022 and 38 closed out, a net change of -5 holders.
  • The largest Upwork buyer in Q4 2022 was Capital International Investors, an estimated $66.1M added.
  • The largest Upwork seller in Q4 2022 was Jackson Square Partners, an estimated $96.4M sold.

Based on aggregated 13F filings for Q4 2022.