Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in UPWK held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 18.9M | $206.7M | -6.0% | 15.266% | 0.00% |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 7.8M | $85.2M | — | 6.294% | 0.00% |
| 3 | Ancient Art, L.P. | 6.0M | $65.3M | +28.4% | 4.825% | 14.24% |
| 4 | VANGUARD CAPITAL MANAGEMENT LLC | 5.6M | $61.5M | — | 4.544% | 0.00% |
| 5 | STATE STREET CORP | 5.1M | $56.2M | +4.8% | 4.149% | 0.00% |
| 6 | Capital International Investors | 4.7M | $51.8M | +43.6% | 3.824% | 0.01% |
| 7 | DIMENSIONAL FUND ADVISORS LP | 3.7M | $40.7M | +26.6% | 3.008% | 0.01% |
| 8 | Boston Partners | 3.2M | $34.6M | +7.5% | 2.553% | 0.04% |
| 9 | GEODE CAPITAL MANAGEMENT, LLC | 3.1M | $34.5M | +1.9% | 2.545% | 0.00% |
| 10 | FMR LLC | 3.1M | $33.7M | +42.3% | 2.486% | 0.00% |
| 11 | GOLDMAN SACHS GROUP INC | 2.6M | $28.0M | +16.1% | 2.065% | 0.00% |
| 12 | RENAISSANCE TECHNOLOGIES LLC | 2.0M | $22.4M | -5.5% | 1.652% | 0.03% |
| 13 | Invenomic Capital Management LP | 1.9M | $21.0M | +160.4% | 1.550% | 0.97% |
| 14 | DEUTSCHE BANK AG\ | 1.7M | $18.6M | +88.8% | 1.370% | 0.01% |
| 15 | Portolan Capital Management, LLC | 1.6M | $17.2M | +118.2% | 1.272% | 0.92% |
| 16 | UBS Group AG | 1.6M | $17.1M | +260.7% | 1.260% | 0.00% |
| 17 | JUPITER ASSET MANAGEMENT LTD | 1.4M | $15.7M | +419.9% | 1.156% | 0.08% |
| 18 | RICE HALL JAMES & ASSOCIATES, LLC | 1.3M | $14.3M | — | 1.059% | 0.80% |
| 19 | AMERICAN CENTURY COMPANIES INC | 1.3M | $14.3M | -6.8% | 1.057% | 0.01% |
| 20 | NORTHERN TRUST CORP | 1.2M | $13.6M | +1.7% | 1.006% | 0.00% |
| 21 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 1.2M | $13.5M | +3.1% | 0.998% | 0.00% |
| 22 | Fiera Capital Corp | 1.2M | $13.5M | -10.7% | 0.998% | 0.05% |
| 23 | MORGAN STANLEY | 1.2M | $13.0M | -57.1% | 0.960% | 0.00% |
| 24 | PRINCIPAL FINANCIAL GROUP INC | 1.1M | $12.0M | +13.8% | 0.889% | 0.01% |
| 25 | MILLENNIUM MANAGEMENT LLC | 1.0M | $11.3M | +1950.1% | 0.838% | 0.01% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in UPWK — a direct measure of their conviction.
Filings activity in UPWK during Q1 2026, grouped by how each filer changed its position.
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 284 | 4.1% | 114.52% | 85.47 pp | $1.20B | 44% |
| Q4 2025 | 296 | +13% | 199.99% | +21.90 pp | $2.15B | +15% |
| Q3 2025 | 263 | 0.8% | 178.09% | +57.70 pp | $1.87B | +48% |
| Q2 2025 | 265 | 0.4% | 120.39% | +9.18 pp | $1.26B | +8.3% |
| Q1 2025 | 266 | +6.0% | 111.21% | 27.32 pp | $1.17B | 20% |
| Q4 2024 | 251 | +17% | 138.53% | +49.73 pp | $1.45B | +56% |
| Q3 2024 | 214 | 12% | 88.80% | 11.90 pp | $931M | 12% |
| Q2 2024 | 242 | — | 100.70% | — | $1.06B | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying UPWK stock.
Based on Q1 2026 13F filings, institutional ownership of Upwork Inc. stands at 114.5%, held across 284 reporting institutions.
BlackRock, Inc. is the largest reported institutional holder of UPWK, with approximately 18,856,122 shares worth $0.21B as of Q1 2026.
Yes — 2 widely-followed marquee investors appear among the top 25 institutional holders of UPWK, including RENAISSANCE TECHNOLOGIES LLC, MILLENNIUM MANAGEMENT LLC.
Our composite Smart Money Score for UPWK is 40 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
60 institutions opened new positions in UPWK during Q1 2026, while 72 fully exited. 39 added to existing positions and 185 trimmed.
UPWK institutional ownership fell by 85.47 percentage points quarter-over-quarter, with a net change of -12 holders.
The top 10 institutions account for 55.8% of all reported 13F value in UPWK, and the top 25 account for 76.2%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Upwork Inc. (UPWK) Institutional Ownership