Upwork
UPWK
250 hedge funds and large institutions have $1.24B invested in Upwork in 2024 Q1 according to their latest regulatory filings, with 41 funds opening new positions, 94 increasing their positions, 85 reducing their positions, and 45 closing their positions.
11% more repeat investments, than reductions
Existing positions increased: 94 | Existing positions reduced: 85
9% less first-time investments, than exits
New positions opened: 41 | Existing positions closed: 45
9% less call options, than puts
Call options by funds: $22.9M | Put options by funds: $25.2M
3% less funds holding
Funds holding: 258 → 250 (-8)
9.41% less ownership
Funds ownership: 83.1% → 73.69% (-9.4%)
27% less capital invested
Capital invested by funds: $1.71B → $1.24B (-$468M)
38% less funds holding in top 10
Funds holding in top 10: 8 → 5 (-3)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
+$23.5M |
| 2 |
DSCM
Divisadero Street Capital Management
Miami,
Florida
|
+$21.3M |
| 3 |
Vanguard Group
Malvern,
Pennsylvania
|
+$10.5M |
| 4 |
ICM
Invenomic Capital Management
Boston,
Massachusetts
|
+$7.48M |
| 5 |
Verition Fund Management
Greenwich,
Connecticut
|
+$7.28M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$55.4M |
| 2 |
FGAM
Financial Gravity Asset Management
Lakeway,
Texas
|
-$48.8M |
| 3 |
Capital International Investors
Los Angeles,
California
|
-$30.1M |
| 4 |
Lord, Abbett & Co
Jersey City,
New Jersey
|
-$23.2M |
| 5 |
Assenagon Asset Management
Senningerberg,
Luxembourg
|
-$19.1M |
UPWK Hedge Fund Activity: Q1 2024 in Review
250 of the 6,942 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q1 2024, worth a combined $1.24B — down 27% from $1.71B a quarter earlier.
Sellers outnumbered buyers: 45 funds closed out of UPWK and 41 opened new positions — a net loss of 4 holders — while 85 trimmed existing stakes and 94 added.
The largest buyer was Citadel Advisors, adding an estimated $23.5M. The largest seller was Morgan Stanley, cutting an estimated $55.4M.
- 250 institutional investors held Upwork (UPWK) as of Q1 2024, down from 258 in Q4 2023.
- Funds reported $1.24B of Upwork stock for Q1 2024, down 27% quarter-over-quarter.
- 41 funds opened new Upwork positions in Q1 2024 and 45 closed out, a net change of -4 holders.
- The largest Upwork buyer in Q1 2024 was Citadel Advisors, an estimated $23.5M added.
- The largest Upwork seller in Q1 2024 was Morgan Stanley, an estimated $55.4M sold.
Based on aggregated 13F filings for Q1 2024.