Upwork
UPWK
231 hedge funds and large institutions have $1.15B invested in Upwork in 2023 Q3 according to their latest regulatory filings, with 45 funds opening new positions, 82 increasing their positions, 71 reducing their positions, and 24 closing their positions.
88% more first-time investments, than exits
New positions opened: 45 | Existing positions closed: 24
75% more funds holding in top 10
Funds holding in top 10: 4 → 7 (+3)
20% more capital invested
Capital invested by funds: $960M → $1.15B (+$195M)
15% more repeat investments, than reductions
Existing positions increased: 82 | Existing positions reduced: 71
8% more funds holding
Funds holding: 213 → 231 (+18)
1.6% less ownership
Funds ownership: 76.98% → 75.38% (-1.6%)
19% less call options, than puts
Call options by funds: $18.9M | Put options by funds: $23.2M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Lord, Abbett & Co
Jersey City,
New Jersey
|
+$18.6M |
| 2 |
Nuveen
Charlotte,
North Carolina
|
+$18.1M |
| 3 |
MCO
MAK Capital One
New York
|
+$17M |
| 4 |
Millennium Management
New York
|
+$14.5M |
| 5 |
Fuller & Thaler Asset Management
San Mateo,
California
|
+$12.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
-$67.8M |
| 2 |
Capital International Investors
Los Angeles,
California
|
-$36.9M |
| 3 |
Baillie Gifford & Co
Edinburgh,
United Kingdom
|
-$21.2M |
| 4 |
D.E. Shaw & Co
New York
|
-$19.8M |
| 5 |
Deutsche Bank
Frankfurt Am Main Ge,
Germany
|
-$13.9M |
UPWK Hedge Fund Activity: Q3 2023 in Review
231 of the 6,310 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q3 2023, worth a combined $1.15B — up 20% from $960M a quarter earlier.
Buyers outnumbered sellers: 45 funds opened new UPWK positions and 24 closed out — a net gain of 21 holders — while 82 added to existing stakes and 71 trimmed.
The largest buyer was Lord, Abbett & Co, opening a new position worth an estimated $18.6M. The largest seller was Bank of America, cutting an estimated $67.8M.
- 231 institutional investors held Upwork (UPWK) as of Q3 2023, up from 213 in Q2 2023.
- Funds reported $1.15B of Upwork stock for Q3 2023, up 20% quarter-over-quarter.
- 45 funds opened new Upwork positions in Q3 2023 and 24 closed out, a net change of +21 holders.
- The largest Upwork buyer in Q3 2023 was Lord, Abbett & Co, an estimated $18.6M added.
- The largest Upwork seller in Q3 2023 was Bank of America, an estimated $67.8M sold.
Based on aggregated 13F filings for Q3 2023.