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Upwork
UPWK

249 hedge funds and large institutions have $1.12B invested in Upwork in 2024 Q2 according to their latest regulatory filings, with 45 funds opening new positions, 93 increasing their positions, 79 reducing their positions, and 43 closing their positions.

New
Increased
Maintained
Reduced
Closed

18% more repeat investments, than reductions

Existing positions increased: 93 | Existing positions reduced: 79

4.59% more ownership

Funds ownership: 73.69% → 78.28% (+4.6%)

6% more call options, than puts

Call options by funds: $20.3M | Put options by funds: $19.2M

5% more first-time investments, than exits

New positions opened: 45 | Existing positions closed: 43

0% more funds holding in top 10

Funds holding in top 10: 5 → 5 (0)

0% less funds holding

Funds holding: 250 → 249 (-1)

10% less capital invested

Capital invested by funds: $1.24B → $1.12B (-$126M)

Holders
249
Holders Change
-1
Holders Change %
-0.4%
% of All Funds
3.6%
Holding in Top 10
5
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.07%
New
45
Increased
93
Reduced
79
Closed
43
Calls
$20.3M
Puts
$19.2M
Net Calls
+$1.09M
Net Calls Change
+$3.35M

Top Buyers

1
AA
Ancient Art
Texas
+$24M
2
Allianz Asset Management
Allianz Asset Management
Germany
+$23.6M
3
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$21.8M
4
ICM
Invenomic Capital Management
Massachusetts
+$12.6M
5
DSCM
Divisadero Street Capital Management
Florida
+$9.33M

Top Sellers

1
Fuller & Thaler Asset Management
Fuller & Thaler Asset Management
California
-$19M
2
Goldman Sachs
Goldman Sachs
New York
-$18.1M
3
Citadel Advisors
Citadel Advisors
Florida
-$15.5M
4
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
-$9.43M
5
Two Sigma Investments
Two Sigma Investments
New York
-$8.68M
Name Holding Trade Value Shares
Change 		Change in
Stake
Jane Street
76
Jane Street
New York
$1.89M -$120K -10,537 -6%
SPS
77
Susquehanna Portfolio Strategies
Pennsylvania
$1.87M – – –
Royal Bank of Canada
78
Royal Bank of Canada
Ontario, Canada
$1.8M +$259K +22,847 +16%
Fidelity Investments
79
Fidelity Investments
Massachusetts
$1.78M -$963K -84,906 -34%
Capital Fund Management (CFM)
80
Capital Fund Management (CFM)
France
$1.78M +$422K +37,216 +29%
Norges Bank
81
Norges Bank
Norway
$1.73M -$5.95M -524,054 -77%
AQR Capital Management
82
AQR Capital Management
Connecticut
$1.69M -$853K -75,197 -32%
EIM
83
Essex Investment Management
Massachusetts
$1.68M +$1.72M +151,429 +3,206%
SFI
84
Susquehanna Fundamental Investments
Pennsylvania
$1.64M +$1.73M +152,300 New
AllianceBernstein
85
AllianceBernstein
Tennessee
$1.63M +$290K +25,530 +20%
RHJA
86
Rice Hall James & Associates
California
$1.48M +$324K +28,542 +26%
UBS Group
87
UBS Group
Switzerland
$1.43M -$878K -77,411 -37%
PAM
88
Panagora Asset Management
Massachusetts
$1.4M +$108K +9,528 +8%
California State Teachers Retirement System (CalSTRS)
89
California State Teachers Retirement System (CalSTRS)
California
$1.36M +$47K +4,144 +3%
Vontobel Holding
90
Vontobel Holding
Switzerland
$1.33M -$64.6K -5,694 -4%
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
91
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Ontario, Canada
$1.28M +$1.35M +119,000 New
SFM
92
Sphera Funds Management
Israel
$1.26M – – –
Legal & General Group
93
Legal & General Group
United Kingdom
$1.25M +$7.78K +686 +0.6%
IMC Chicago
94
IMC Chicago
Illinois
$1.23M +$275K +24,258 +27%
TCA
95
Transcend Capital Advisors
New Jersey
$1.17M – – –
FPA
96
First Pacific Advisors
California
$1.13M – – –
CCIA
97
Campbell & Co Investment Adviser
Maryland
$1.13M +$1.19M +104,663 New
JF
98
Jump Financial
Illinois
$1.11M +$401K +35,314 +52%
Citigroup
99
Citigroup
New York
$1.05M -$324K -28,578 -23%
Invesco
100
Invesco
Georgia
$1.05M +$22.5K +1,987 +2%
2 3
4
5 6

UPWK Hedge Fund Activity: Q2 2024 in Review

249 of the 6,924 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q2 2024, worth a combined $1.12B — down 10% from $1.24B a quarter earlier.

Buyers outnumbered sellers: 45 funds opened new UPWK positions and 43 closed out — a net gain of 2 holders — while 93 added to existing stakes and 79 trimmed.

The largest buyer was Ancient Art, adding an estimated $24M. The largest seller was Fuller & Thaler Asset Management, exiting entirely with an estimated $19M sold.

  • 249 institutional investors held Upwork (UPWK) as of Q2 2024, down from 250 in Q1 2024.
  • Funds reported $1.12B of Upwork stock for Q2 2024, down 10% quarter-over-quarter.
  • 45 funds opened new Upwork positions in Q2 2024 and 43 closed out, a net change of +2 holders.
  • The largest Upwork buyer in Q2 2024 was Ancient Art, an estimated $24M added.
  • The largest Upwork seller in Q2 2024 was Fuller & Thaler Asset Management, an estimated $19M sold.

Based on aggregated 13F filings for Q2 2024.