Who owns Upwork Inc. (UPWK)
Which tracked institutional funds hold UPWK, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See UPWK company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on UPWK is one-sided between 2025-Q4 and 2026-Q1: 46 added or opened and 140 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
UPWK’s largest tracked holder by dollar value, VANGUARD GROUP INC, sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes UPWK more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in UPWK divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 293 tracked filers holding UPWK, 171 increased or opened the position and 160 reduced or closed it; over the same quarter, open-market insider Form 4 buying and selling roughly offset.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in UPWK between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 21
- VANGUARD PORTFOLIO MANAGEMENT LLC$85M
- VANGUARD CAPITAL MANAGEMENT LLC$62M
- RICE HALL JAMES & ASSOCIATES, LLC$14M
- VANGUARD FIDUCIARY TRUST CO$10M
- XTX Topco Ltd$6M
- WINTON GROUP Ltd$3M
Full exits 25
- VANGUARD GROUP INC$276M
- SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC$40M
- BAILLIE GIFFORD & CO$20M
- J. Goldman & Co LP$11M
- Bridgewater Associates, LP$11M
- DANSKE BANK A/S$6M
Largest adds
- MILLENNIUM MANAGEMENT LLC$10M
- JUPITER ASSET MANAGEMENT LTD$10M
- UBS Group AG$9M
- Pacer Advisors, Inc.$8M
- Invenomic Capital Management LP$6M
- Portolan Capital Management, LLC$3M
Largest trims
- BlackRock, Inc.$248M
- PRICE T ROWE ASSOCIATES INC /MD/$190M
- Invesco Ltd.$62M
- LSV ASSET MANAGEMENT$55M
- MORGAN STANLEY$42M
- STATE STREET CORP$41M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 17,435,463 | $191M | 10.6% | 2026-Q1 |
| BlackRock, Inc. trimmed | 13,615,303 | $149M | 8.2% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 7,774,348 | $85M | 4.7% | 2026-Q1 |
| LSV ASSET MANAGEMENT added | 6,792,528 | $74M | 4.1% | 2026-Q1 |
| Ancient Art, L.P. added | 5,959,909 | $65M | 3.6% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 5,612,698 | $62M | 3.4% | 2026-Q1 |
| STATE STREET CORP added | 5,125,342 | $56M | 3.1% | 2026-Q1 |
| Capital International Investors added | 4,723,558 | $52M | 2.9% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 3,715,616 | $41M | 2.2% | 2026-Q1 |
| Boston Partners added | 3,153,937 | $35M | 1.9% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 3,143,280 | $34M | 1.9% | 2026-Q1 |
| FMR LLC added | 3,069,313 | $34M | 1.9% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 2,550,828 | $28M | 1.5% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 2,040,320 | $22M | 1.2% | 2026-Q1 |
| Invenomic Capital Management LP added | 1,914,501 | $21M | 1.2% | 2026-Q1 |
| DEUTSCHE BANK AG\ added | 1,692,722 | $19M | 1.0% | 2026-Q1 |
| Portolan Capital Management, LLC added | 1,570,560 | $17M | 1.0% | 2026-Q1 |
| UBS Group AG added | 1,556,511 | $17M | 0.9% | 2026-Q1 |
| JUPITER ASSET MANAGEMENT LTD added | 1,428,300 | $16M | 0.9% | 2026-Q1 |
| RICE HALL JAMES & ASSOCIATES, LLC added | 1,308,167 | $14M | 0.8% | 2026-Q1 |
| AMERICAN CENTURY COMPANIES INC trimmed | 1,305,873 | $14M | 0.8% | 2026-Q1 |
| NORTHERN TRUST CORP added | 1,242,582 | $14M | 0.8% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 1,232,479 | $14M | 0.7% | 2026-Q1 |
| Fiera Capital Corp trimmed | 1,232,253 | $14M | 0.7% | 2026-Q1 |
| MORGAN STANLEY trimmed | 1,185,695 | $13M | 0.7% | 2026-Q1 |
| PRINCIPAL FINANCIAL GROUP INC added | 1,097,681 | $12M | 0.7% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 1,035,421 | $11M | 0.6% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ trimmed | 928,710 | $10M | 0.6% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 896,882 | $10M | 0.5% | 2026-Q1 |
| WELLINGTON MANAGEMENT GROUP LLP trimmed | 871,228 | $10M | 0.5% | 2026-Q1 |
| Invesco Ltd. trimmed | 812,527 | $9M | 0.5% | 2026-Q1 |
| ALLIANCEBERNSTEIN L.P. added | 424,256 | $8M | 0.5% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP trimmed | 766,309 | $8M | 0.5% | 2026-Q1 |
| Pacer Advisors, Inc. added | 726,780 | $8M | 0.4% | 2026-Q1 |
| Bank of New York Mellon Corp trimmed | 725,276 | $8M | 0.4% | 2026-Q1 |
| XTX Topco Ltd added | 564,496 | $6M | 0.3% | 2026-Q1 |
| Public Sector Pension Investment Board added | 553,373 | $6M | 0.3% | 2026-Q1 |
| Hillsdale Investment Management Inc. | 502,500 | $6M | 0.3% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC trimmed | 486,122 | $5M | 0.3% | 2026-Q1 |
| VICTORY CAPITAL MANAGEMENT INC added | 444,159 | $5M | 0.3% | 2026-Q1 |
| KESTREL INVESTMENT MANAGEMENT CORP trimmed | 433,000 | $5M | 0.3% | 2026-Q1 |
| Financial Gravity Asset Management, Inc. added | 424,762 | $5M | 0.3% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 410,827 | $4M | 0.2% | 2026-Q1 |
| SkyView Investment Advisors, LLC trimmed | 389,205 | $4M | 0.2% | 2026-Q1 |
| Nuveen, LLC trimmed | 389,189 | $4M | 0.2% | 2026-Q1 |
| Clearbridge Investments, LLC added | 387,912 | $4M | 0.2% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS added | 376,100 | $4M | 0.2% | 2026-Q1 |
| FRANKLIN RESOURCES INC added | 373,536 | $4M | 0.2% | 2026-Q1 |
| Allianz Asset Management GmbH trimmed | 369,339 | $4M | 0.2% | 2026-Q1 |
| FIRST TRUST ADVISORS LP added | 364,344 | $4M | 0.2% | 2026-Q1 |
| Robeco Institutional Asset Management B.V. added | 359,391 | $4M | 0.2% | 2026-Q1 |
| PEAK6 LLC added | 342,668 | $4M | 0.2% | 2026-Q1 |
| RHUMBLINE ADVISERS added | 334,047 | $4M | 0.2% | 2026-Q1 |
| STATE OF WISCONSIN INVESTMENT BOARD trimmed | 328,582 | $4M | 0.2% | 2026-Q1 |
| WINTON GROUP Ltd added | 318,267 | $3M | 0.2% | 2026-Q1 |
| KING LUTHER CAPITAL MANAGEMENT CORP | 317,542 | $3M | 0.2% | 2026-Q1 |
| Legal & General Group Plc trimmed | 300,538 | $3M | 0.2% | 2026-Q1 |
| Circumference Group LLC trimmed | 300,000 | $3M | 0.2% | 2026-Q1 |
| NEW YORK STATE COMMON RETIREMENT FUND trimmed | 295,595 | $3M | 0.2% | 2026-Q1 |
| ALGERT GLOBAL LLC added | 274,890 | $3M | 0.2% | 2026-Q1 |
| Squarepoint Ops LLC added | 266,786 | $3M | 0.2% | 2026-Q1 |
| NATIXIS trimmed | 258,400 | $3M | 0.2% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 256,385 | $3M | 0.2% | 2026-Q1 |
| OneDigital Investment Advisors LLC trimmed | 255,091 | $3M | 0.2% | 2026-Q1 |
| Swiss National Bank trimmed | 245,600 | $3M | 0.1% | 2026-Q1 |
| NORGES BANK trimmed | 202,486 | $3M | 0.1% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 231,484 | $3M | 0.1% | 2026-Q1 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP trimmed | 230,830 | $3M | 0.1% | 2026-Q1 |
| VOYA INVESTMENT MANAGEMENT LLC added | 221,608 | $2M | 0.1% | 2026-Q1 |
| Man Group plc added | 215,421 | $2M | 0.1% | 2026-Q1 |
| VANGUARD GROUP INC trimmed | 13,909,242 | $276M | 15.2% | 2025-Q4 stale |
| SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC added | 2,025,000 | $40M | 2.2% | 2025-Q4 stale |
| BAILLIE GIFFORD & CO trimmed | 1,030,754 | $20M | 1.1% | 2025-Q4 stale |
| J. Goldman & Co LP trimmed | 541,259 | $11M | 0.6% | 2025-Q4 stale |
| Bridgewater Associates, LP trimmed | 541,073 | $11M | 0.6% | 2025-Q4 stale |
| Assenagon Asset Management S.A. added | 537,261 | $10M | 0.6% | 2025-Q3 stale |
| Cubist Systematic Strategies, LLC added | 532,144 | $10M | 0.5% | 2025-Q3 stale |
| Point72 Asset Management, L.P. added | 518,954 | $10M | 0.5% | 2025-Q3 stale |
| Kent Lake PR LLC new | 500,000 | $9M | 0.5% | 2025-Q3 stale |
| TWO SIGMA ADVISERS, LP trimmed | 443,311 | $8M | 0.5% | 2025-Q3 stale |
| JANE STREET GROUP, LLC trimmed | 415,729 | $8M | 0.4% | 2025-Q3 stale |
| DANSKE BANK A/S trimmed | 301,573 | $6M | 0.3% | 2025-Q4 stale |
| GLOBEFLEX CAPITAL L P | 269,640 | $5M | 0.3% | 2025-Q4 stale |
| Financial Gravity Companies, Inc. added | 380,836 | $5M | 0.3% | 2025-Q2 stale |
| Qube Research & Technologies Ltd trimmed | 271,857 | $5M | 0.3% | 2025-Q3 stale |
| ExodusPoint Capital Management, LP added | 267,268 | $5M | 0.3% | 2025-Q3 stale |
| Concentric Capital Strategies, LP added | 257,306 | $5M | 0.3% | 2025-Q3 stale |
| Informed Momentum Co LLC added | 224,598 | $4M | 0.2% | 2025-Q3 stale |
| Trexquant Investment LP trimmed | 204,041 | $4M | 0.2% | 2025-Q3 stale |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC trimmed | 193,768 | $4M | 0.2% | 2025-Q3 stale |
| MAVERICK CAPITAL LTD added | 184,755 | $3M | 0.2% | 2025-Q3 stale |
| BURNEY CO/ new | 168,627 | $3M | 0.2% | 2025-Q4 stale |
| Connor, Clark & Lunn Investment Management Ltd. added | 236,906 | $3M | 0.2% | 2025-Q2 stale |
| Alternative Investment Advisors, LLC. new | 161,997 | $3M | 0.2% | 2025-Q3 stale |
| Divisadero Street Capital Management, LP | 158,125 | $3M | 0.2% | 2025-Q3 stale |
| Ruffer LLP new | 146,239 | $3M | 0.1% | 2025-Q3 stale |
| RedJay Asset Management Inc. trimmed | 205,000 | $3M | 0.1% | 2025-Q1 stale |
| Aquatic Capital Management LLC added | 141,920 | $3M | 0.1% | 2025-Q3 stale |
| Advantage Alpha Capital Partners LP trimmed | 182,816 | $2M | 0.1% | 2025-Q1 stale |
| GROUP ONE TRADING LLC added | 117,168 | $2M | 0.1% | 2025-Q4 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.