300 hedge funds and large institutions have $2.67B invested in Upwork in 2025 Q4 according to their latest regulatory filings, with 76 funds opening new positions, 115 increasing their positions, 85 reducing their positions, and 38 closing their positions.

New
Increased
Maintained
Reduced
Closed

more first-time investments, than exits

New positions opened: | Existing positions closed:

more repeat investments, than reductions

Existing positions increased: | Existing positions reduced:

more capital invested

Capital invested by funds: $ → $

more ownership

Funds ownership:

9% more funds holding

Funds holding: 274300 (+26)

6% less call options, than puts

Call options by funds: $37.7M | Put options by funds: $39.9M

40% less funds holding in top 10

Funds holding in top 10: 53 (-2)

Holders
300
Holders Change
Holders Change %
% of All Funds
Holding in Top 10
3
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
New
Increased
Reduced
Closed
Calls
$37.7M
Puts
$39.9M
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
RhumbLine Advisers
51
RhumbLine Advisers
Massachusetts
$6.48M
Luther King Capital Management (LKCM)
52
Luther King Capital Management (LKCM)
Texas
$6.29M
Arrowstreet Capital
53
Arrowstreet Capital
Massachusetts
$6.23M
New York State Common Retirement Fund
54
New York State Common Retirement Fund
New York
$6.01M
DB
55
Danske Bank
Denmark
$5.98M
Universal-Beteiligungs- und Servicegesellschaft
56
Universal-Beteiligungs- und Servicegesellschaft
Germany
$5.96M
Schroder Investment Management Group
57
Schroder Investment Management Group
United Kingdom
$5.69M
Franklin Resources
58
Franklin Resources
California
$5.45M
JAM
59
Jupiter Asset Management
United Kingdom
$5.45M
GC
60
Globeflex Capital
California
$5.34M
OIA
61
OneDigital Investment Advisors
Kansas
$5.11M
Swiss National Bank
62
Swiss National Bank
Switzerland
$4.92M
Wells Fargo
63
Wells Fargo
California
$4.82M
UBS AM
64
UBS AM
Illinois
$4.72M
AG
65
Algert Global
California
$4.65M
Nordea Investment Management
66
Nordea Investment Management
Sweden
$4.39M
PCM
67
Penserra Capital Management
California
$4.13M
Squarepoint
68
Squarepoint
New York
$3.69M
Royal Bank of Canada
69
Royal Bank of Canada
Ontario, Canada
$3.57M
Acadian Asset Management
70
Acadian Asset Management
Massachusetts
$3.44M
EF
71
Empowered Funds
Pennsylvania
$3.4M
BC
72
Burney Company
Virginia
$3.34M
Robeco Institutional Asset Management
73
Robeco Institutional Asset Management
Netherlands
$3.29M
Victory Capital Management
74
Victory Capital Management
Texas
$3.24M
GAM
75
Gotham Asset Management
New York
$3.22M