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305 hedge funds and large institutions have $2.68B invested in Upwork in 2025 Q4 according to their latest regulatory filings, with 77 funds opening new positions, 117 increasing their positions, 86 reducing their positions, and 38 closing their positions.

New
Increased
Maintained
Reduced
Closed

103% more first-time investments, than exits

New positions opened: 77 | Existing positions closed: 38

36% more repeat investments, than reductions

Existing positions increased: 117 | Existing positions reduced: 86

18% more capital invested

Capital invested by funds: $2.27B → $2.68B (+$404M)

11.07% more ownership

Funds ownership: 92.32%103.39% (+11%)

11% more funds holding

Funds holding: 276305 (+29)

0% less call options, than puts

Call options by funds: $40.9M | Put options by funds: $40.9M

40% less funds holding in top 10

Funds holding in top 10: 53 (-2)

Holders
305
Holders Change
+29
Holders Change %
+10.51%
% of All Funds
3.71%
Holding in Top 10
3
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-40%
% of All Funds
0.04%
New
77
Increased
117
Reduced
86
Closed
38
Calls
$40.9M
Puts
$40.9M
Net Calls
-$15K
Net Calls Change
-$15.2M
Name Holding Trade Value Shares
Change
Change in
Stake
Wellington Management Group
26
Wellington Management Group
Massachusetts
$18.3M +$5.21M +284,127 +44%
Barclays
27
Barclays
United Kingdom
$18.1M -$279K -15,206 -2%
Deutsche Bank
28
Deutsche Bank
Germany
$17.8M +$14.3M +777,850 +655%
Two Sigma Investments
29
Two Sigma Investments
New York
$16.7M -$11.8M -642,283 -43%
Bank of New York Mellon
30
Bank of New York Mellon
New York
$14.9M +$5.95M +324,418 +76%
ICM
31
Invenomic Capital Management
Massachusetts
$14.6M -$11M -599,441 -45%
PCM
32
Portolan Capital Management
Massachusetts
$14.3M +$5.97M +325,715 +83%
Ameriprise
33
Ameriprise
Minnesota
$12.6M +$6.37M +347,444 +120%
JGC
34
J. Goldman & Co
New York
$10.7M -$4.19M -228,488 -30%
BA
35
Bridgewater Associates
Connecticut
$10.7M -$1.83M -99,986 -16%
HIM
36
Hillsdale Investment Management
Ontario, Canada
$9.96M -$51.4K -2,800 -0.6%
GPGA
37
Grandeur Peak Global Advisors
Utah
$9.16M -$758K -41,329 -8%
Public Sector Pension Investment Board (PSP Investments)
38
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$8.96M +$8.29M +452,229 New
Janus Henderson Group
39
Janus Henderson Group
United Kingdom
$8.89M +$7.14M +389,330 +659%
KIM
40
Kestrel Investment Management
California
$8.63M -$284K -15,500 -3%
UBS Group
41
UBS Group
Switzerland
$8.55M -$425K -23,150 -5%
AQR Capital Management
42
AQR Capital Management
Connecticut
$8.55M +$2.39M +130,302 +43%
FGAM
43
Financial Gravity Asset Management
Texas
$7.96M +$190K +10,355 +3%
SIA
44
SkyView Investment Advisors
New Jersey
$7.78M -$182K -9,930 -2%
CG
45
Circumference Group
Arkansas
$7.63M +$183K +10,000 +3%
State of Wisconsin Investment Board
46
State of Wisconsin Investment Board
Wisconsin
$7.44M +$1.98M +108,099 +40%
First Trust Advisors
47
First Trust Advisors
Illinois
$6.82M +$2.94M +160,085 +87%
Legal & General Group
48
Legal & General Group
United Kingdom
$6.6M +$3.41M +186,081 +127%
ClearBridge Investments
49
ClearBridge Investments
New York
$6.59M +$6.1M +332,525 New
AllianceBernstein
50
AllianceBernstein
Tennessee
$6.5M -$384K -20,916 -6%