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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
Verition Fund Management
26
Verition Fund Management
Connecticut
$13.4M +$13.9M +965,084 +2,750%
Allianz Asset Management
27
Allianz Asset Management
Germany
$12.9M -$18.3M -1,275,988 -57%
Balyasny Asset Management
28
Balyasny Asset Management
Illinois
$12M +$12.8M +889,522 New
Acadian Asset Management
29
Acadian Asset Management
Massachusetts
$11M -$345K -24,057 -3%
Bank of America
30
Bank of America
North Carolina
$10.1M +$2.55M +177,832 +31%
Voloridge Investment Management
31
Voloridge Investment Management
Florida
$9.45M -$524K -36,505 -5%
Pacer Advisors
32
Pacer Advisors
Pennsylvania
$9.03M -$1.92M -133,559 -17%
Assenagon Asset Management
33
Assenagon Asset Management
Luxembourg
$6.85M +$1.09M +75,760 +17%
UBS AM
34
UBS AM
Illinois
$6.74M +$2.34M +163,089 +48%
GPGA
35
Grandeur Peak Global Advisors
Utah
$6.24M +$1.42M +98,811 +27%
KIM
36
Kestrel Investment Management
California
$6.06M -$300K -20,900 -4%
HIM
37
Hillsdale Investment Management
Ontario, Canada
$6.04M +$1.26M +88,000 +24%
CSS
38
Cubist Systematic Strategies
Connecticut
$5.95M -$1.44M -99,985 -18%
Bank of New York Mellon
39
Bank of New York Mellon
New York
$5.61M +$69K +4,809 +1%
CG
40
Circumference Group
Arkansas
$5.51M -$933K -65,000 -14%
SIA
41
SkyView Investment Advisors
New Jersey
$5.3M +$42.6K +2,971 +0.8%
AllianceBernstein
42
AllianceBernstein
Tennessee
$5.14M +$55.4K +3,860 +1%
FGC
43
Financial Gravity Companies
Texas
$5.12M +$5.47M +380,836 New
Barclays
44
Barclays
United Kingdom
$4.69M +$2.51M +174,710 +100%
Susquehanna International Group
45
Susquehanna International Group
Pennsylvania
$4.58M -$857K -59,689 -15%
American Century Companies
46
American Century Companies
Missouri
$4.57M +$3.14M +218,543 +180%
DB
47
Danske Bank
Denmark
$4.46M +$3.29M +229,457 +225%
Squarepoint
48
Squarepoint
New York
$4.35M +$4.65M +323,744 New
First Trust Advisors
49
First Trust Advisors
Illinois
$4.18M +$3.48M +242,516 +354%
Universal-Beteiligungs- und Servicegesellschaft
50
Universal-Beteiligungs- und Servicegesellschaft
Germany
$4.14M +$1.71M +119,097 +63%

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.