Upwork Inc (UPWK) Hedge Fund Ownership (Q2 2026)

Q: Is it too late to buy Upwork Inc (UPWK) following the 2026 Q2 hedge fund 13F filings?

As of today, UPWK has moved -1.4% since the 2026 Q2 13F filing date (August 14, 2026), compared to +1.9% for the XLC sector ETF — an outperformance of -3.3%. Since the quarter end (June 30, 2026), UPWK gained +0.1% vs +7.5% for XLC. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Upwork Inc (UPWK)

295 + Investors. Track Smart Money conviction in UPWK. See who's accumulating, reducing, or initiating positions.

Smart Money Signals — UPWK

Based on 298 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q

For 1 consecutive quarter, more hedge funds added UPWK than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

🏔️

At the ownership peak (98% of max)

98% of all-time peak

298 hedge funds hold UPWK right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.

📶

Steady growth — +12% more funds vs a year ago

fund count last 6Q

+31 new funds entered over the past year (+12% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.

🟡

Slight buying edge — 55% buying

179 buying145 selling

Last quarter: 179 funds bought or added vs 145 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

➡️

Steady new buyers — ~60 new funds per quarter

new funds entering per quarter

Funds opening this position for the first time: 51 → 79 → 56 → 60. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.

🔒

53% of holders stayed for 2+ years

■ 53% conviction (2yr+) ■ 22% medium ■ 25% new

158 out of 298 hedge funds have held UPWK for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

➡️

Steady discovery — ~60 new funds/quarter

47 → 51 → 79 → 56 → 60 new funds/Q

New funds entering each quarter: 51 → 79 → 56 → 60. Consistent flow of new institutional buyers without clear acceleration or slowdown.

🏛️

Veteran-anchored — 62% veterans vs 23% newcomers

■ 62% veterans ■ 14% 1-2yr ■ 23% new

Entry-cohort mix of 312 holders: 195 (62%) are 2+ year veterans, 44 entered 1–2 years ago, and 73 (23%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.

🏆

Elite ownership — 64% AUM from top-100 funds

64% from top-100 AUM funds

56 of 296 holders are among the 100 largest funds by AUM, controlling 64% of total institutional value in UPWK. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

3.6

out of 10

Low Exit Risk

Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Metric	All 13F Filers (2026 Q2)	Prior (2026 Q1)	Change
Funds Holding	295	293	0.68%
13F Shares	129M	138M	-6.14%
Total Value	$1.15B	$1.23B	-7.01%
New Positions	60	56	+4
Increased Positions	118	116	+2
Closed Positions	56	67	-11
Reduced Positions	84	91	-7
Total Calls	7	8	-12.5%
Total Puts	9	15	-40.0%
PUT/CALL Ratio	1.29	1.88	Bearish

Metric

All 13F Filers (2026 Q2)

Prior (2026 Q1)

Change

Funds Holding

295

293

0.68%

13F Shares

129M

138M

-6.14%

Total Value

$1.15B

$1.23B

-7.01%

New Positions

Increased Positions

118

116

Closed Positions

-11

Reduced Positions

-7

Total Calls

-12.5%

Total Puts

-40.0%

PUT/CALL Ratio

1.29

1.88

Bearish

Institutional Holders (2026 Q2)

295 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in UPWK. Verified SEC 13F-HR filings.

QUARTER:

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 UPWK holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Ancient Art, L.P.	12.35%	7,228,530	$60.4M
2	Circumference Group LLC	6.93%	382,000	$3.2M
3	Sparta 24 Ltd.	2.28%	296,628	$2.5M
4	Kestrel Investment Management Corp	1.97%	433,000	$3.6M
5	Invenomic Capital Management LP	1.20%	2,406,922	$20.1M
6	Rice Hall James & Associates, LLC	1.13%	2,776,805	$23.2M
7	Dauntless Investment Group, LLC	0.44%	67,680	$566K
8	Ares Systematic Credit Ltd	0.34%	66,651	$557K
9	Straightline Group LLC	0.33%	83,406	$697K
10	State of Wyoming	0.20%	235,043	$2.0M
11	Synergy Financial Group, LTD	0.17%	28,831	$241K
12	Essex Investment Management Co LLC	0.14%	131,938	$1.1M
13	Aviance Capital Partners, LLC	0.14%	163,321	$1.4M
14	Landscape Capital Management, L.L.C.	0.14%	258,172	$2.2M
15	New Vernon Capital Holdings II LLC	0.13%	27,778	$232K
16	Baader Bank Aktiengesellschaft	0.13%	200,000	$1.7M
17	Gallacher Capital Management LLC	0.12%	25,708	$215K
18	Hillsdale Investment Management Inc.	0.10%	541,900	$4.5M
19	Avestar Capital, LLC	0.10%	208,154	$1.7M
20	EntryPoint Capital, LLC	0.09%	12,181	$131K
21	OP Asset Management Ltd	0.09%	980,461	$8.2M
22	Bayesian Capital Management, LP	0.09%	15,900	$133K
23	Blueshift Asset Management, LLC	0.08%	40,934	$342K
24	Royce & Associates LP	0.07%	1,076,689	$9.0M
25	Dynamic Technology Lab Private Ltd	0.07%	37,463	$314K

Investor	Ownership History	% of Portfolio	Prev %	Rank	Conviction	Avg Buy Price	13F Score™ 3Y / 7Y	Sell Timing	Shares	Mkt Value	Change	Change %	Source	Quarter	Filed

Frequently Asked Questions — Upwork Inc (UPWK)

What does the Smart Money Trend signal show for UPWK?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added UPWK than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for UPWK?

Slight buying edge — 55% buying: Last quarter: 179 funds bought or added vs 145 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for UPWK holders?

Elite ownership — 64% AUM from top-100 funds: 56 of 296 holders are among the 100 largest funds by AUM, controlling 64% of total institutional value in UPWK. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held UPWK?

53% of holders stayed for 2+ years: 158 out of 298 hedge funds have held UPWK for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Upwork Inc (UPWK) following the 2026 Q2 hedge fund 13F filings?

As of today, UPWK has moved -1.4% since the 2026 Q2 13F filing date (August 14, 2026), compared to +1.9% for the XLC sector ETF — an outperformance of -3.3%. Since the quarter end (June 30, 2026), UPWK has gained +0.1% vs +7.5% for XLC. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

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Upwork Inc (UPWK)

Smart Money Signals — UPWK

Buying streak — 1 quarter in a row

At the ownership peak (98% of max)

Steady growth — +12% more funds vs a year ago

Slight buying edge — 55% buying

Steady new buyers — ~60 new funds per quarter

53% of holders stayed for 2+ years

Steady discovery — ~60 new funds/quarter

Veteran-anchored — 62% veterans vs 23% newcomers

Elite ownership — 64% AUM from top-100 funds

Institutional Sentiment Summary — UPWK

Hedge Fund Ownership: UPWK

Market Analysis: UPWK

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: UPWK

Is It Too Late to Buy Upwork Inc (UPWK) Based on Hedge Fund 13F Filings?

Hedge Fund Positioning: UPWK

Statistics: UPWK

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q2)

Frequently Asked Questions — Upwork Inc (UPWK)

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