272 hedge funds and large institutions have $1.53B invested in Upwork in 2025 Q1 according to their latest regulatory filings, with 73 funds opening new positions, 77 increasing their positions, 82 reducing their positions, and 46 closing their positions.

New
Increased
Maintained
Reduced
Closed

more first-time investments, than exits

New positions opened: | Existing positions closed:

more funds holding

Funds holding:

more ownership

Funds ownership:

less repeat investments, than reductions

Existing positions increased: | Existing positions reduced:

15% less capital invested

Capital invested by funds: $1.79B → $1.53B (-$267M)

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
272
Holders Change
Holders Change %
% of All Funds
Holding in Top 10
4
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
New
Increased
Reduced
Closed
Calls
$14.8M
Puts
$22.8M
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
XT
126
XTX Topco
Cayman Islands
$564K
Aviva
127
Aviva
United Kingdom
$560K
Connor, Clark & Lunn Investment Management (CC&L)
128
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$556K
Zurich Cantonal Bank
129
Zurich Cantonal Bank
Switzerland
$530K
LCM
130
Legato Capital Management
California
$524K
Canada Life
131
Canada Life
Manitoba, Canada
$515K
AssetMark Inc
132
AssetMark Inc
California
$508K
AIMCA
133
Alberta Investment Management Corp (AIMCo)
Alberta, Canada
$504K
State Board of Administration of Florida Retirement System
134
State Board of Administration of Florida Retirement System
Florida
$497K
SGAM
135
Smith Group Asset Management
Texas
$481K
ASRS
136
Arizona State Retirement System
Arizona
$475K
OPS
137
Orion Portfolio Solutions
Nebraska
$466K
BCI
138
Brinker Capital Investments
Pennsylvania
$466K
SG
139
Straightline Group
Michigan
$463K
Verition Fund Management
140
Verition Fund Management
Connecticut
$458K
SFG
141
Synergy Financial Group
California
$441K
VOYA Investment Management
142
VOYA Investment Management
Georgia
$440K
Handelsbanken Fonder
143
Handelsbanken Fonder
Sweden
$411K
VRS
144
Virginia Retirement Systems
Virginia
$410K
HighTower Advisors
145
HighTower Advisors
Illinois
$405K
HCA
146
Harbor Capital Advisors
Illinois
$403K
Parallax Volatility Advisers
147
Parallax Volatility Advisers
California
$373K
Commonwealth Equity Services
148
Commonwealth Equity Services
Massachusetts
$365K
CWM
149
CIBC World Markets
New York
$361K
PFSRSONJ
150
Police & Firemen's Retirement System of New Jersey
New Jersey
$359K