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305 hedge funds and large institutions have $2.68B invested in Upwork in 2025 Q4 according to their latest regulatory filings, with 77 funds opening new positions, 117 increasing their positions, 86 reducing their positions, and 38 closing their positions.

New
Increased
Maintained
Reduced
Closed

103% more first-time investments, than exits

New positions opened: 77 | Existing positions closed: 38

36% more repeat investments, than reductions

Existing positions increased: 117 | Existing positions reduced: 86

18% more capital invested

Capital invested by funds: $2.27B → $2.68B (+$404M)

11.07% more ownership

Funds ownership: 92.32%103.39% (+11%)

11% more funds holding

Funds holding: 276305 (+29)

0% less call options, than puts

Call options by funds: $40.9M | Put options by funds: $40.9M

40% less funds holding in top 10

Funds holding in top 10: 53 (-2)

Holders
305
Holders Change
+29
Holders Change %
+10.51%
% of All Funds
3.71%
Holding in Top 10
3
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-40%
% of All Funds
0.04%
New
77
Increased
117
Reduced
86
Closed
38
Calls
$40.9M
Puts
$40.9M
Net Calls
-$15K
Net Calls Change
-$15.2M
Name Holding Trade Value Shares
Change
Change in
Stake
BlackRock
1
BlackRock
New York
$398M +$156M +8,517,035 +74%
T. Rowe Price Associates
2
T. Rowe Price Associates
Maryland
$381M +$108M +5,893,970 +44%
Vanguard Group
3
Vanguard Group
Pennsylvania
$297M +$5.91M +322,455 +2%
LSV Asset Management
4
LSV Asset Management
Illinois
$130M +$438K +23,900 +0.4%
State Street
5
State Street
Massachusetts
$96.9M +$35M +1,909,873 +64%
AA
6
Ancient Art
Texas
$92M +$6.82M +372,147 +9%
Invesco
7
Invesco
Georgia
$71.1M +$10.6M +576,512 +19%
Capital International Investors
8
Capital International Investors
California
$65.2M +$16.5M +900,318 +38%
Geode Capital Management
9
Geode Capital Management
Massachusetts
$61.1M -$20.4K -1,114 -0%
Boston Partners
10
Boston Partners
Massachusetts
$58.3M +$11.2M +610,260 +26%
Dimensional Fund Advisors
11
Dimensional Fund Advisors
Texas
$58.2M +$1.97M +107,375 +4%
Morgan Stanley
12
Morgan Stanley
New York
$54.8M -$36.7M -2,003,749 -42%
Goldman Sachs
13
Goldman Sachs
New York
$43.5M -$26.2M -1,425,911 -39%
Renaissance Technologies
14
Renaissance Technologies
New York
$42.8M +$6.53M +356,327 +20%
Fidelity Investments
15
Fidelity Investments
Massachusetts
$42.8M +$39.3M +2,145,595 +17,267%
SPPAM
16
Summit Partners Public Asset Management
Massachusetts
$40.1M +$37.1M +2,025,000 New
N
17
Nuveen
North Carolina
$35.1M -$478K -26,073 -1%
American Century Companies
18
American Century Companies
Missouri
$27.8M +$13M +710,289 +103%
Fiera Capital (Canada)
19
Fiera Capital (Canada)
Quebec, Canada
$27.3M +$6.2M +338,002 +32%
Allianz Asset Management
20
Allianz Asset Management
Germany
$24.3M -$11.7M -638,585 -34%
Northern Trust
21
Northern Trust
Illinois
$24.2M +$483K +26,321 +2%
Charles Schwab
22
Charles Schwab
California
$23.7M +$1.91M +104,233 +10%
Bank of America
23
Bank of America
North Carolina
$21.5M -$3.73M -203,421 -16%
Baillie Gifford & Co
24
Baillie Gifford & Co
United Kingdom
$20.4M -$2.71M -147,509 -13%
Principal Financial Group
25
Principal Financial Group
Iowa
$19.1M +$13.5M +734,251 +319%