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Upwork
UPWK

249 hedge funds and large institutions have $1.12B invested in Upwork in 2024 Q2 according to their latest regulatory filings, with 45 funds opening new positions, 93 increasing their positions, 79 reducing their positions, and 43 closing their positions.

New
Increased
Maintained
Reduced
Closed

18% more repeat investments, than reductions

Existing positions increased: 93 | Existing positions reduced: 79

4.59% more ownership

Funds ownership: 73.69% → 78.28% (+4.6%)

6% more call options, than puts

Call options by funds: $20.3M | Put options by funds: $19.2M

5% more first-time investments, than exits

New positions opened: 45 | Existing positions closed: 43

0% more funds holding in top 10

Funds holding in top 10: 5 → 5 (0)

0% less funds holding

Funds holding: 250 → 249 (-1)

10% less capital invested

Capital invested by funds: $1.24B → $1.12B (-$126M)

Holders
249
Holders Change
-1
Holders Change %
-0.4%
% of All Funds
3.6%
Holding in Top 10
5
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.07%
New
45
Increased
93
Reduced
79
Closed
43
Calls
$20.3M
Puts
$19.2M
Net Calls
+$1.09M
Net Calls Change
+$3.35M

Top Buyers

1
AA
Ancient Art
Texas
+$24M
2
Allianz Asset Management
Allianz Asset Management
Germany
+$23.6M
3
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$21.8M
4
ICM
Invenomic Capital Management
Massachusetts
+$12.6M
5
DSCM
Divisadero Street Capital Management
Florida
+$9.33M

Top Sellers

1
Fuller & Thaler Asset Management
Fuller & Thaler Asset Management
California
-$19M
2
Goldman Sachs
Goldman Sachs
New York
-$18.1M
3
Citadel Advisors
Citadel Advisors
Florida
-$15.5M
4
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
-$9.43M
5
Two Sigma Investments
Two Sigma Investments
New York
-$8.68M
Name Holding Trade Value Shares
Change 		Change in
Stake
Citadel Advisors
26
Citadel Advisors
Florida
$9.8M -$15.5M -1,363,992 -60%
Goldman Sachs
27
Goldman Sachs
New York
$9.13M -$18.1M -1,592,474 -65%
RAM
28
RedJay Asset Management
Ontario, Canada
$8.6M +$1.7M +150,000 +23%
Deutsche Bank
29
Deutsche Bank
Germany
$8.19M -$659K -58,091 -7%
CSS
30
Cubist Systematic Strategies
Connecticut
$8.18M -$1.73M -152,431 -17%
Arrowstreet Capital
31
Arrowstreet Capital
Massachusetts
$7.59M -$681K -60,012 -8%
Voloridge Investment Management
32
Voloridge Investment Management
Florida
$7.2M +$2.57M +226,914 +51%
TI
33
Trexquant Investment
Connecticut
$6.51M +$3.51M +309,223 +104%
BGIM
34
Brandywine Global Investment Management
Pennsylvania
$6.08M -$519K -45,769 -7%
Qube Research & Technologies (QRT)
35
Qube Research & Technologies (QRT)
United Kingdom
$5.43M -$435K -38,324 -7%
Bank of New York Mellon
36
Bank of New York Mellon
New York
$5.1M +$455K +40,098 +9%
OAM
37
Oberweis Asset Management
Illinois
$5.04M – – –
HCM
38
Horrell Capital Management
Arkansas
$5M +$964K +85,000 +22%
CG
39
Circumference Group
Arkansas
$5M +$964K +85,000 +22%
Prudential Financial
40
Prudential Financial
New Jersey
$4.94M -$2.14M -188,920 -29%
JP Morgan Chase
41
JP Morgan Chase
New York
$4.37M -$482K -42,477 -9%
JAM
42
Jupiter Asset Management
United Kingdom
$4.12M +$4.35M +383,259 New
TGM
43
Tenzing Global Management
California
$4.03M +$4.25M +375,000 New
Susquehanna International Group
44
Susquehanna International Group
Pennsylvania
$3.84M +$693K +61,077 +21%
PCM
45
Penserra Capital Management
California
$3.72M +$552K +48,613 +16%
HIM
46
Hillsdale Investment Management
Ontario, Canada
$3.7M +$592K +52,200 +18%
Barclays
47
Barclays
United Kingdom
$3.59M -$822K -72,472 -18%
FGAM
48
Financial Gravity Asset Management
Texas
$3.56M -$3.06M -269,378 -45%
Federated Hermes
49
Federated Hermes
Pennsylvania
$3.43M +$22.6K +1,996 +0.6%
AACP
50
Advantage Alpha Capital Partners
California
$3.35M -$601 -53 -0%
1
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3 4 5

UPWK Hedge Fund Activity: Q2 2024 in Review

249 of the 6,924 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q2 2024, worth a combined $1.12B — down 10% from $1.24B a quarter earlier.

Buyers outnumbered sellers: 45 funds opened new UPWK positions and 43 closed out — a net gain of 2 holders — while 93 added to existing stakes and 79 trimmed.

The largest buyer was Ancient Art, adding an estimated $24M. The largest seller was Fuller & Thaler Asset Management, exiting entirely with an estimated $19M sold.

  • 249 institutional investors held Upwork (UPWK) as of Q2 2024, down from 250 in Q1 2024.
  • Funds reported $1.12B of Upwork stock for Q2 2024, down 10% quarter-over-quarter.
  • 45 funds opened new Upwork positions in Q2 2024 and 43 closed out, a net change of +2 holders.
  • The largest Upwork buyer in Q2 2024 was Ancient Art, an estimated $24M added.
  • The largest Upwork seller in Q2 2024 was Fuller & Thaler Asset Management, an estimated $19M sold.

Based on aggregated 13F filings for Q2 2024.