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Upwork
UPWK

228 hedge funds and large institutions have $1.39B invested in Upwork in 2022 Q3 according to their latest regulatory filings, with 35 funds opening new positions, 78 increasing their positions, 73 reducing their positions, and 31 closing their positions.

New
Increased
Maintained
Reduced
Closed

13% more first-time investments, than exits

New positions opened: 35 | Existing positions closed: 31

7% more repeat investments, than reductions

Existing positions increased: 78 | Existing positions reduced: 73

2% more call options, than puts

Call options by funds: $20.9M | Put options by funds: $20.4M

1% more funds holding

Funds holding: 226 → 228 (+2)

0.11% less ownership

Funds ownership: 78.36% → 78.25% (-0.11%)

34% less capital invested

Capital invested by funds: $2.1B → $1.39B (-$706M)

64% less funds holding in top 10

Funds holding in top 10: 14 → 5 (-9)

Holders
228
Holders Change
+2
Holders Change %
+0.88%
% of All Funds
3.93%
Holding in Top 10
5
Holding in Top 10 Change
-9
Holding in Top 10 Change %
-64.29%
% of All Funds
0.09%
New
35
Increased
78
Reduced
73
Closed
31
Calls
$20.9M
Puts
$20.4M
Net Calls
+$495K
Net Calls Change
+$13.6M

Top Buyers

1
Janus Henderson Group
Janus Henderson Group
United Kingdom
+$43.5M
2
Deutsche Bank
Deutsche Bank
Germany
+$19.2M
3
HRCM
Hawk Ridge Capital Management
California
+$15.4M
4
CSS
Cubist Systematic Strategies
Connecticut
+$10.5M
5
CS
Candriam SCA
Luxembourg
+$10M

Top Sellers

1
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$69.5M
2
XL
XN LP
New York
-$24.5M
3
Morgan Stanley
Morgan Stanley
New York
-$17.1M
4
GCP
Greenoaks Capital Partners
California
-$12.5M
5
KLC
Kent Lake Capital
Nevada
-$10.3M
Name Holding Trade Value Shares
Change 		Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$148M +$1.27M +67,553 +0.6%
BlackRock
2
BlackRock
New York
$106M -$4.34M -230,558 -3%
JSP
3
Jackson Square Partners
California
$96.4M -$8.18M -434,970 -6%
Baillie Gifford & Co
4
Baillie Gifford & Co
United Kingdom
$89.7M -$5.69M -302,687 -4%
Janus Henderson Group
5
Janus Henderson Group
United Kingdom
$63M +$43.5M +2,315,525 +100%
HRCM
6
Hawk Ridge Capital Management
California
$56.9M +$15.4M +817,996 +24%
DAM
7
Dorsey Asset Management
Illinois
$38.2M +$2.59M +137,525 +5%
GCP
8
Greenoaks Capital Partners
California
$36.3M -$12.5M -666,633 -20%
A
9
Atomvest
Hong Kong
$34.1M – – –
T. Rowe Price Investment Management
10
T. Rowe Price Investment Management
Maryland
$33.6M +$46.4M +2,467,587 New
Fidelity Investments
11
Fidelity Investments
Massachusetts
$32.4M +$60.5K +3,216 +0.1%
State Street
12
State Street
Massachusetts
$32.3M +$378K +20,081 +0.9%
AA
13
Ancient Art
Texas
$31.6M +$2.97M +158,049 +7%
Geode Capital Management
14
Geode Capital Management
Massachusetts
$29.3M +$459K +24,412 +1%
D.E. Shaw & Co
15
D.E. Shaw & Co
New York
$26.2M +$6.23M +331,500 +21%
Federated Hermes
16
Federated Hermes
Pennsylvania
$25.8M -$7.17M -381,138 -17%
Capital International Investors
17
Capital International Investors
California
$24.4M +$5.15M +273,688 +18%
Macquarie Group
18
Macquarie Group
Australia
$20.7M +$467K +24,834 +2%
Citadel Advisors
19
Citadel Advisors
Florida
$17.1M -$7.8M -414,847 -25%
Deutsche Bank
20
Deutsche Bank
Germany
$16.8M +$19.2M +1,022,578 +477%
BC
21
BIT Capital
Germany
$16.6M -$6.81M -362,093 -23%
SEI Investments
22
SEI Investments
Pennsylvania
$16.6M -$907K -48,211 -4%
Two Sigma Advisers
23
Two Sigma Advisers
New York
$16.1M +$2.37M +126,100 +12%
Northern Trust
24
Northern Trust
Illinois
$14.8M -$395K -20,990 -2%
Two Sigma Investments
25
Two Sigma Investments
New York
$14.4M +$8.76M +465,945 +78%
1
2 3 4 5

UPWK Hedge Fund Activity: Q3 2022 in Review

228 of the 5,805 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q3 2022, worth a combined $1.39B — down 34% from $2.1B a quarter earlier.

Buyers outnumbered sellers: 35 funds opened new UPWK positions and 31 closed out — a net gain of 4 holders — while 78 added to existing stakes and 73 trimmed.

The largest buyer was Janus Henderson Group, adding an estimated $43.5M. The largest seller was T. Rowe Price Associates, cutting an estimated $69.5M.

  • 228 institutional investors held Upwork (UPWK) as of Q3 2022, up from 226 in Q2 2022.
  • Funds reported $1.39B of Upwork stock for Q3 2022, down 34% quarter-over-quarter.
  • 35 funds opened new Upwork positions in Q3 2022 and 31 closed out, a net change of +4 holders.
  • The largest Upwork buyer in Q3 2022 was Janus Henderson Group, an estimated $43.5M added.
  • The largest Upwork seller in Q3 2022 was T. Rowe Price Associates, an estimated $69.5M sold.

Based on aggregated 13F filings for Q3 2022.