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277 hedge funds and large institutions have $1.53B invested in Upwork in 2025 Q1 according to their latest regulatory filings, with 72 funds opening new positions, 78 increasing their positions, 86 reducing their positions, and 46 closing their positions.

New
Increased
Maintained
Reduced
Closed

57% more first-time investments, than exits

New positions opened: 72 | Existing positions closed: 46

9% more funds holding

Funds holding: 253277 (+24)

4.21% more ownership

Funds ownership: 82.32%86.53% (+4.2%)

9% less repeat investments, than reductions

Existing positions increased: 78 | Existing positions reduced: 86

15% less capital invested

Capital invested by funds: $1.8B → $1.53B (-$269M)

35% less call options, than puts

Call options by funds: $14.8M | Put options by funds: $22.8M

56% less funds holding in top 10

Funds holding in top 10: 94 (-5)

Holders
277
Holders Change
+24
Holders Change %
+9.49%
% of All Funds
3.71%
Holding in Top 10
4
Holding in Top 10 Change
-5
Holding in Top 10 Change %
-55.56%
% of All Funds
0.05%
New
72
Increased
78
Reduced
86
Closed
46
Calls
$14.8M
Puts
$22.8M
Net Calls
-$7.95M
Net Calls Change
-$18.5M
Name Holding Trade Value Shares
Change
Change in
Stake
OIA
51
OneDigital Investment Advisors
Kansas
$3.63M -$557K -36,570 -12%
SEI Investments
52
SEI Investments
Pennsylvania
$3.57M +$1.73M +113,567 +71%
Ameriprise
53
Ameriprise
Minnesota
$3.56M +$624K +40,972 +18%
Luther King Capital Management (LKCM)
54
Luther King Capital Management (LKCM)
Texas
$3.44M
Janus Henderson Group
55
Janus Henderson Group
United Kingdom
$3.36M +$2.97M +195,204 +330%
Franklin Resources
56
Franklin Resources
California
$3.25M +$193K +12,666 +5%
Swiss National Bank
57
Swiss National Bank
Switzerland
$3.22M
JF
58
Jump Financial
Illinois
$3.21M +$1.81M +119,001 +94%
Nordea Investment Management
59
Nordea Investment Management
Sweden
$3.11M +$3.68M +241,843 New
GC
60
Globeflex Capital
California
$3.1M
Wells Fargo
61
Wells Fargo
California
$2.78M +$2.25M +147,485 +224%
JP Morgan Chase
62
JP Morgan Chase
New York
$2.69M -$3.83M -251,447 -55%
RAM
63
RedJay Asset Management
Ontario, Canada
$2.68M -$6.02M -395,000 -66%
Norges Bank
64
Norges Bank
Norway
$2.64M -$2.46M -161,516 -44%
TI
65
Trexquant Investment
Connecticut
$2.63M -$5.1M -334,718 -62%
Deutsche Bank
66
Deutsche Bank
Germany
$2.51M -$513K -33,659 -15%
Royal Bank of Canada
67
Royal Bank of Canada
Ontario, Canada
$2.5M +$1.19M +78,123 +69%
Los Angeles Capital Management
68
Los Angeles Capital Management
California
$2.5M +$1.92M +126,277 +194%
Universal-Beteiligungs- und Servicegesellschaft
69
Universal-Beteiligungs- und Servicegesellschaft
Germany
$2.46M +$2.87M +188,654 New
AACP
70
Advantage Alpha Capital Partners
California
$2.39M -$130K -8,505 -4%
RhumbLine Advisers
71
RhumbLine Advisers
Massachusetts
$2.38M +$67.9K +4,458 +3%
State of Wisconsin Investment Board
72
State of Wisconsin Investment Board
Wisconsin
$2.35M +$2.34M +153,581 +582%
Barclays
73
Barclays
United Kingdom
$2.28M -$1.32M -86,797 -33%
SSA
74
Schonfeld Strategic Advisors
New York
$2.24M +$2.62M +171,943 New
Jane Street
75
Jane Street
New York
$2.23M +$2.61M +171,085 New

UPWK Hedge Fund Activity: Q1 2025 in Review

277 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q1 2025, worth a combined $1.53B — down 15% from $1.8B a quarter earlier.

Buyers outnumbered sellers: 72 funds opened new UPWK positions and 46 closed out — a net gain of 26 holders — while 78 added to existing stakes and 86 trimmed.

The largest buyer was LSV Asset Management, adding an estimated $64M. The largest seller was Dorsey Asset Management, exiting entirely with an estimated $49.8M sold.

  • 277 institutional investors held Upwork (UPWK) as of Q1 2025, up from 253 in Q4 2024.
  • Funds reported $1.53B of Upwork stock for Q1 2025, down 15% quarter-over-quarter.
  • 72 funds opened new Upwork positions in Q1 2025 and 46 closed out, a net change of +26 holders.
  • The largest Upwork buyer in Q1 2025 was LSV Asset Management, an estimated $64M added.
  • The largest Upwork seller in Q1 2025 was Dorsey Asset Management, an estimated $49.8M sold.

Based on aggregated 13F filings for Q1 2025.