Upwork
UPWK
229 hedge funds and large institutions have $1.08B invested in Upwork in 2023 Q1 according to their latest regulatory filings, with 35 funds opening new positions, 94 increasing their positions, 60 reducing their positions, and 24 closing their positions.
57% more repeat investments, than reductions
Existing positions increased: 94 | Existing positions reduced: 60
46% more first-time investments, than exits
New positions opened: 35 | Existing positions closed: 24
6% more capital invested
Capital invested by funds: $1.02B → $1.08B (+$65.6M)
5% more funds holding
Funds holding: 218 → 229 (+11)
10% less call options, than puts
Call options by funds: $9.05M | Put options by funds: $10M
1.95% less ownership
Funds ownership: 74.29% → 72.34% (-1.9%)
20% less funds holding in top 10
Funds holding in top 10: 5 → 4 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HRCM
Hawk Ridge Capital Management
Los Angeles,
California
|
+$15.5M |
| 2 |
Citadel Advisors
Miami,
Florida
|
+$10.8M |
| 3 |
Vanguard Group
Malvern,
Pennsylvania
|
+$7.87M |
| 4 |
AA
Ancient Art
Austin,
Texas
|
+$7.02M |
| 5 |
Morgan Stanley
New York
|
+$6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Janus Henderson Group
London,
United Kingdom
|
-$27.1M |
| 2 |
Millennium Management
New York
|
-$19.2M |
| 3 |
Fidelity Investments
Boston,
Massachusetts
|
-$15.6M |
| 4 |
Wellington Management Group
Boston,
Massachusetts
|
-$10.7M |
| 5 |
CS
Candriam SCA
Strassen, Luxembourg,
Luxembourg
|
-$8.96M |
UPWK Hedge Fund Activity: Q1 2023 in Review
229 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q1 2023, worth a combined $1.08B — up 6.4% from $1.02B a quarter earlier.
Buyers outnumbered sellers: 35 funds opened new UPWK positions and 24 closed out — a net gain of 11 holders — while 94 added to existing stakes and 60 trimmed.
The largest buyer was Hawk Ridge Capital Management, adding an estimated $15.5M. The largest seller was Janus Henderson Group, cutting an estimated $27.1M.
- 229 institutional investors held Upwork (UPWK) as of Q1 2023, up from 218 in Q4 2022.
- Funds reported $1.08B of Upwork stock for Q1 2023, up 6.4% quarter-over-quarter.
- 35 funds opened new Upwork positions in Q1 2023 and 24 closed out, a net change of +11 holders.
- The largest Upwork buyer in Q1 2023 was Hawk Ridge Capital Management, an estimated $15.5M added.
- The largest Upwork seller in Q1 2023 was Janus Henderson Group, an estimated $27.1M sold.
Based on aggregated 13F filings for Q1 2023.