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268 hedge funds and large institutions have $1.58B invested in Upwork in 2025 Q2 according to their latest regulatory filings, with 46 funds opening new positions, 105 increasing their positions, 84 reducing their positions, and 52 closing their positions.

New
Increased
Maintained
Reduced
Closed

25% more repeat investments, than reductions

Existing positions increased: 105 | Existing positions reduced: 84

2.81% more ownership

Funds ownership: 86.53%89.34% (+2.8%)

3% more capital invested

Capital invested by funds: $1.53B → $1.58B (+$50.3M)

0% more funds holding in top 10

Funds holding in top 10: 44 (0)

3% less funds holding

Funds holding: 277268 (-9)

12% less first-time investments, than exits

New positions opened: 46 | Existing positions closed: 52

31% less call options, than puts

Call options by funds: $12.8M | Put options by funds: $18.5M

Holders
268
Holders Change
-9
Holders Change %
-3.25%
% of All Funds
3.53%
Holding in Top 10
4
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
0.05%
New
46
Increased
105
Reduced
84
Closed
52
Calls
$12.8M
Puts
$18.5M
Net Calls
-$5.74M
Net Calls Change
+$2.21M
Name Holding Trade Value Shares
Change
Change in
Stake
SWM
201
SeaCrest Wealth Management
New York
$145K +$11.5K +800 +8%
AC
202
AXQ Capital
New Jersey
$141K +$151K +10,489 New
OAM
203
Oppenheimer Asset Management
New York
$135K -$9.8K -683 -6%
QOP
204
Quinn Opportunity Partners
Virginia
$134K -$71.8K -5,000 -33%
PD
205
Point72 (DIFC)
United Arab Emirates
$130K +$139K +9,649 New
Osaic Holdings
206
Osaic Holdings
Arizona
$96.6K -$645K -44,947 -86%
SAM
207
Shell Asset Management
Netherlands
$88K -$10.4K -727 -10%
KBC Group
208
KBC Group
Belgium
$59K -$32.5K -2,266 -34%
AB
209
Amalgamated Bank
New York
$59K
IA
210
IFP Advisors
Florida
$56.8K -$3.47K -242 -6%
QL
211
Quarry LP
New York
$56.7K +$41.9K +2,917 +225%
Canada Pension Plan Investment Board
212
Canada Pension Plan Investment Board
Ontario, Canada
$56.4K +$5.74K +400 +11%
SS
213
SBI Securities
Japan
$53.9K +$3.69K +257 +7%
EWA
214
EverSource Wealth Advisors
Alabama
$47.1K +$50K +3,485 +19,361%
Carson Wealth (CWM LLC)
215
Carson Wealth (CWM LLC)
Nebraska
$47K -$26.6K -1,853 -35%
ECM
216
EMC Capital Management
Texas
$45K +$48K +3,345 New
PH
217
Pinnacle Holdings
Oklahoma
$38.6K +$41.3K +2,874 New
LSA
218
Leonteq Securities AG
Switzerland
$38K +$7.09K +494 +21%
LI
219
LRI Investments
Florida
$34K +$29.3K +2,038 +416%
PAS
220
Point72 Asia (Singapore)
Singapore
$31.8K -$105K -7,343 -76%
NA
221
NewEdge Advisors
Louisiana
$30.6K +$4.65K +324 +17%
MYIA
222
Mount Yale Investment Advisors
Colorado
$30K +$32.1K +2,233 New
PNC Financial Services Group
223
PNC Financial Services Group
Pennsylvania
$28.9K +$589 +41 +2%
Nisa Investment Advisors
224
Nisa Investment Advisors
Missouri
$28.4K
FMP
225
Financial Management Professionals
Texas
$27.8K -$48.7K -3,394 -62%

UPWK Hedge Fund Activity: Q2 2025 in Review

268 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q2 2025, worth a combined $1.58B — up 3.3% from $1.53B a quarter earlier.

Sellers outnumbered buyers: 52 funds closed out of UPWK and 46 opened new positions — a net loss of 6 holders — while 84 trimmed existing stakes and 105 added.

The largest buyer was Morgan Stanley, adding an estimated $23.3M. The largest seller was T. Rowe Price Investment Management, cutting an estimated $41.6M.

  • 268 institutional investors held Upwork (UPWK) as of Q2 2025, down from 277 in Q1 2025.
  • Funds reported $1.58B of Upwork stock for Q2 2025, up 3.3% quarter-over-quarter.
  • 46 funds opened new Upwork positions in Q2 2025 and 52 closed out, a net change of -6 holders.
  • The largest Upwork buyer in Q2 2025 was Morgan Stanley, an estimated $23.3M added.
  • The largest Upwork seller in Q2 2025 was T. Rowe Price Investment Management, an estimated $41.6M sold.

Based on aggregated 13F filings for Q2 2025.