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Upwork
UPWK

228 hedge funds and large institutions have $1.39B invested in Upwork in 2022 Q3 according to their latest regulatory filings, with 35 funds opening new positions, 78 increasing their positions, 73 reducing their positions, and 31 closing their positions.

New
Increased
Maintained
Reduced
Closed

13% more first-time investments, than exits

New positions opened: 35 | Existing positions closed: 31

7% more repeat investments, than reductions

Existing positions increased: 78 | Existing positions reduced: 73

2% more call options, than puts

Call options by funds: $20.9M | Put options by funds: $20.4M

1% more funds holding

Funds holding: 226 → 228 (+2)

0.11% less ownership

Funds ownership: 78.36% → 78.25% (-0.11%)

34% less capital invested

Capital invested by funds: $2.1B → $1.39B (-$706M)

64% less funds holding in top 10

Funds holding in top 10: 14 → 5 (-9)

Holders
228
Holders Change
+2
Holders Change %
+0.88%
% of All Funds
3.93%
Holding in Top 10
5
Holding in Top 10 Change
-9
Holding in Top 10 Change %
-64.29%
% of All Funds
0.09%
New
35
Increased
78
Reduced
73
Closed
31
Calls
$20.9M
Puts
$20.4M
Net Calls
+$495K
Net Calls Change
+$13.6M

Top Buyers

1
Janus Henderson Group
Janus Henderson Group
United Kingdom
+$43.5M
2
Deutsche Bank
Deutsche Bank
Germany
+$19.2M
3
HRCM
Hawk Ridge Capital Management
California
+$15.4M
4
CSS
Cubist Systematic Strategies
Connecticut
+$10.5M
5
CS
Candriam SCA
Luxembourg
+$10M

Top Sellers

1
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$69.5M
2
XL
XN LP
New York
-$24.5M
3
Morgan Stanley
Morgan Stanley
New York
-$17.1M
4
GCP
Greenoaks Capital Partners
California
-$12.5M
5
KLC
Kent Lake Capital
Nevada
-$10.3M
Name Holding Trade Value Shares
Change 		Change in
Stake
EIM
51
Essex Investment Management
Massachusetts
$3.9M +$812K +43,173 +18%
Swiss National Bank
52
Swiss National Bank
Switzerland
$3.77M +$71.5K +3,800 +1%
RA
53
Royce & Associates
New York
$3.68M – – –
Man Group
54
Man Group
United Kingdom
$3.64M +$5.03M +267,423 New
Balyasny Asset Management
55
Balyasny Asset Management
Illinois
$3.64M -$3.15M -167,603 -39%
FAM
56
Fred Alger Management
New York
$3.47M -$545 -29 -0%
ASGS
57
Alpha Square Group S
New York
$3.47M +$752K +40,000 +19%
California Public Employees Retirement System
58
California Public Employees Retirement System
California
$3.42M +$1.28M +68,329 +37%
Citigroup
59
Citigroup
New York
$3.38M -$989K -52,587 -18%
PCM
60
Penserra Capital Management
California
$3.31M -$366K -19,472 -7%
Royal Bank of Canada
61
Royal Bank of Canada
Ontario, Canada
$3.22M -$168K -8,946 -4%
HSBC Holdings
62
HSBC Holdings
United Kingdom
$2.87M +$2.38M +126,688 +157%
Connor, Clark & Lunn Investment Management (CC&L)
63
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$2.8M +$1.74M +92,542 +82%
DSCM
64
Divisadero Street Capital Management
Florida
$2.72M -$4.89M -260,000 -57%
FCM
65
Firsthand Capital Management
California
$2.72M – – –
PI
66
PEAK6 Investments
Illinois
$2.72M +$815K +43,337 +28%
MMA
67
Mizuho Markets Americas
New York
$2.65M -$792K -42,100 -18%
Luther King Capital Management (LKCM)
68
Luther King Capital Management (LKCM)
Texas
$2.6M +$42.5K +2,260 +1%
Bank of America
69
Bank of America
North Carolina
$2.56M -$4.49M -238,568 -56%
NEI
70
Northwest & Ethical Investments
Ontario, Canada
$2.48M – – –
JP Morgan Chase
71
JP Morgan Chase
New York
$2.47M -$36K -1,914 -1%
RJA
72
Raymond James & Associates
Florida
$2.37M +$168K +8,939 +5%
SSA
73
Schonfeld Strategic Advisors
New York
$2.36M +$3.26M +173,125 New
FPA
74
First Pacific Advisors
California
$2.2M – – –
AAM
75
AMI Asset Management
California
$2.18M -$1.48M -78,737 -33%
1 2
3
4 5

UPWK Hedge Fund Activity: Q3 2022 in Review

228 of the 5,805 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q3 2022, worth a combined $1.39B — down 34% from $2.1B a quarter earlier.

Buyers outnumbered sellers: 35 funds opened new UPWK positions and 31 closed out — a net gain of 4 holders — while 78 added to existing stakes and 73 trimmed.

The largest buyer was Janus Henderson Group, adding an estimated $43.5M. The largest seller was T. Rowe Price Associates, cutting an estimated $69.5M.

  • 228 institutional investors held Upwork (UPWK) as of Q3 2022, up from 226 in Q2 2022.
  • Funds reported $1.39B of Upwork stock for Q3 2022, down 34% quarter-over-quarter.
  • 35 funds opened new Upwork positions in Q3 2022 and 31 closed out, a net change of +4 holders.
  • The largest Upwork buyer in Q3 2022 was Janus Henderson Group, an estimated $43.5M added.
  • The largest Upwork seller in Q3 2022 was T. Rowe Price Associates, an estimated $69.5M sold.

Based on aggregated 13F filings for Q3 2022.