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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
CWM
151
CIBC World Markets
New York
$361K +$244K +15,984 +137%
PFSRSONJ
152
Police & Firemen's Retirement System of New Jersey
New Jersey
$359K
AA
153
ALPS Advisors
Colorado
$357K -$114K -7,505 -22%
ProShare Advisors
154
ProShare Advisors
Maryland
$352K -$124K -8,126 -23%
MFIM
155
Mesirow Financial Investment Management
Illinois
$347K +$22.3K +1,465 +6%
ACM
156
Aquatic Capital Management
Illinois
$341K -$110K -7,239 -22%
KK
157
KLP Kapitalforvaltning
Norway
$334K
US Bancorp
158
US Bancorp
Minnesota
$329K -$9.48K -622 -2%
Creative Planning
159
Creative Planning
Kansas
$326K -$55.6K -3,650 -13%
BC
160
Bridgefront Capital
Texas
$322K +$376K +24,696 New
OAM
161
Oxford Asset Management
United Kingdom
$313K +$365K +23,972 New
OBWP
162
O'Brien Wealth Partners
Massachusetts
$308K
Raymond James Financial
163
Raymond James Financial
Florida
$301K -$405K -26,598 -54%
BA
164
Bridgewater Associates
Connecticut
$289K +$338K +22,175 New
Focus Partners Wealth
165
Focus Partners Wealth
Massachusetts
$288K -$14.6K -961 -4%
JFG
166
Jefferies Financial Group
New York
$284K -$6.46K -424 -2%
SOW
167
State of Wyoming
Wyoming
$276K +$162K +10,665 +101%
SA
168
Sanctuary Advisors
Indiana
$276K -$624K -40,979 -66%
CC
169
Centiva Capital
New York
$268K +$313K +20,568 New
TCM
170
Teza Capital Management
Illinois
$265K +$309K +20,283 New
GEM
171
Global Endowment Management
North Carolina
$259K -$289K -18,957 -49%
D.E. Shaw & Co
172
D.E. Shaw & Co
New York
$259K -$2.5M -164,284 -89%
JAM
173
Jupiter Asset Management
United Kingdom
$241K +$281K +18,444 New
Pictet Asset Management
174
Pictet Asset Management
Switzerland
$233K -$16.6K -1,091 -6%
Group One Trading
175
Group One Trading
Illinois
$229K +$267K +17,544 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.