SBI Securities 13F: Adds $2.5M to Upstart (UPST) Stake

SBI Securities increased its investment in Upstart Holdings, Inc. (UPST) during the third quarter, lifting its stake by 653.9%. The fund revealed the portfolio adjustment in a Form 13F filing submitted to the Securities and Exchange Commission on October 22, 2026. Upstart operates a cloud-based artificial intelligence lending platform that partners with banks to offer personal, auto, and home equity loans.

UPST Upstart Holdings, Inc.

$23.60 ▼ -48.52% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in SBI Securities's Upstart Holdings Position

The fund added 109,502 shares to its holdings during the period, bringing its total share count to 126,246 shares. According to the regulatory filing, the stake was valued at approximately $2.9 million at the close of the quarter. In the prior quarter, the firm held just 16,744 shares of the lending platform.

Other Institutional Activity in Upstart Holdings

Other institutional investors made notable adjustments to their Upstart positions around the same reporting cycle. Marshall Wace LLP reduced its holdings by 909,634 shares, leaving it with 2,370,690 shares valued at about $56.1 million. Clear Street Group Inc. grew its stake by 273,870 shares, ending with 1,829,063 shares worth roughly $43.3 million.

Upstart Holdings, Inc. Stock Up 2.3%

The stock recently traded around $24.21, sitting above its event-day close of $23.65 on October 22, 2026. Shares have traded between a 52-week low of $22.21 and a 52-week high of $55.22 over the past year. The company carries a market capitalization of roughly $2.3 billion.

Recent Earnings

Upstart reported trailing twelve month revenue of $1.3 billion alongside earnings of $0.50 per share. The company generated a net profit margin of 4.7% and a return on equity of 7.9%. Management scheduled the next earnings release for November 3, 2026.

Dividend

Upstart Holdings does not pay a dividend, retaining its earnings to fund ongoing technology development and operations.

Insider Buying and Selling at Upstart Holdings, Inc.

Company insiders completed several transactions prior to the filing. Officer Scott L Darling sold 7,696 shares on August 20, 2026, for $216,216. Officer Natalia Mirgorodskaya disposed of 913 shares on August 25, 2026, totaling $27,417. Officer Sanjay Datta sold 116,000 shares on September 8, 2026, for about $3.2 million. Chief Executive Officer Paul Gu purchased 50,000 shares on September 10, 2026, for roughly $1.3 million.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock ahead of the filing. Needham maintained a Buy rating on August 5, 2026, moving its price target from $40.0 to $42.0. Loop Capital initiated coverage with a Hold rating and a $34.0 price target on September 9, 2026. BTIG reiterated a Buy rating with a $43.0 target on September 22, 2026. Goldman Sachs maintained a Neutral rating while lowering its target from $39.0 to $28.0 on October 13, 2026. Citizens maintained a Market Underperform rating and cut its target from $20.0 to $18.0 on October 15, 2026. Overall, the stock holds a consensus Buy recommendation with a mean price target of $38.38 across 16 analyst opinions.

About Upstart Holdings

Founded in 2012 and headquartered in San Mateo, California, Upstart operates digital lending infrastructure powered by machine learning models. The platform helps financial institutions evaluate credit risk more accurately across personal loans, auto refinancing, and home equity products.

Bottom Line

SBI Securities expanded its exposure to Upstart significantly during the quarter as institutional sentiment varied across the wider market. Investors will look toward the upcoming earnings report on November 3, 2026, for further updates on loan volume and platform growth.