Upwork Inc.
MX ˙ BMV ˙ US91688F1049
SecurityMX:UPWK / Upwork Inc.
InstitutionGeode Capital Management, Llc
Latest Disclosed Ownership3,143,280 shares
Latest Disclosed Value $ 34,457,432
Geode Capital Management, Llc reports 1.92% increase in ownership of UPWK / Upwork Inc.

On May 15, 2026 - Geode Capital Management, Llc filed a 13F-HR form disclosing ownership of 3,143,280 shares of Upwork Inc. (MX:UPWK) valued at $34,457,432 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 9, 2026 disclosing 3,084,004 shares of Upwork Inc.. This represents a change in shares of 1.92% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F UPWORK COM 91688F104 3,143,280 59,276 1.92 34,457 -43.64 0.0011
2026-02-09 2025-12-31 13F UPWORK COM 91688F104 3,084,004 -1,114 -0.04 61,136 6.70 0.0038
2025-11-12 2025-09-30 13F UPWORK COM 91688F104 3,085,118 89,799 3.00 57,299 42.31 0.0037
2025-08-08 2025-06-30 13F UPWORK COM 91688F104 2,995,319 -21,652 -0.72 40,262 2.24 0.0028
2025-05-13 2025-03-31 13F UPWORK COM 91688F104 3,016,971 137,828 4.79 39,381 -16.36 0.0031
2025-02-12 2024-12-31 13F UPWORK COM 91688F104 2,879,143 6,957 0.24 47,085 56.85 0.0036
2024-11-12 2024-09-30 13F UPWORK COM 91688F104 2,872,186 -18,706 -0.65 30,020 -3.42 0.0024
2024-08-09 2024-06-30 13F UPWORK COM 91688F104 2,890,892 48,391 1.70 31,083 -10.82 0.0027
2024-05-13 2024-03-31 13F UPWORK COM 91688F104 2,842,501 97,034 3.53 34,854 -14.64 0.0032
2024-02-13 2023-12-31 13F UPWORK COM 91688F104 2,745,467 158,959 6.15 40,830 38.94 0.0043
2023-11-13 2023-09-30 13F UPWORK COM 91688F104 2,586,508 126,944 5.16 29,386 27.92 0.0035
2023-08-11 2023-06-30 13F UPWORK COM 91688F104 2,459,564 108,039 4.59 22,972 -13.70 0.0027
2023-05-15 2023-03-31 13F UPWORK COM 91688F104 2,351,525 110,288 4.92 26,619 115,634.78 0.0035
2023-02-13 2022-12-31 13F UPWORK COM 91688F104 2,241,237 87,097 4.04 23 -99.92 0.0033
2022-11-14 2022-09-30 13F UPWORK COM 91688F104 2,154,140 24,412 1.15 29,339 -33.38 0.0045
2022-08-12 2022-06-30 13F UPWORK COM 91688F104 2,129,728 -13,975 -0.65 44,042 -11.60 0.0065
2022-05-13 2022-03-31 13F UPWORK COM 91688F104 2,143,703 -156,597 -6.81 49,819 -36.60 0.0062
2022-02-11 2021-12-31 13F UPWORK COM 91688F104 2,300,300 -36,810 -1.58 78,578 -25.33 0.0095
2021-11-12 2021-09-30 13F UPWORK COM 91688F104 2,337,110 385,715 19.77 105,240 -7.48 0.0142
2021-08-13 2021-06-30 13F UPWORK COM 91688F104 1,951,395 298,755 18.08 113,746 53.74 0.0157
2021-05-12 2021-03-31 13F UPWORK COM 91688F104 1,652,640 205,133 14.17 73,988 48.07 0.0113
2021-02-12 2020-12-31 13F UPWORK COM 91688F104 1,447,507 111,055 8.31 49,967 114.39 0.0084
2020-11-13 2020-09-30 13F UPWORK COM 91688F104 1,336,452 176,860 15.25 23,307 39.20 0.0046
2020-08-13 2020-06-30 13F UPWORK COM 91688F104 1,159,592 233,790 25.25 16,744 180.42 0.0036
2020-05-14 2020-03-31 13F UPWORK COM 91688F104 925,802 76,249 8.98 5,971 -34.12 0.0016
2020-02-20 2019-12-31 13F/A-1 UPWORK COM 91688F104 849,553 25,375 3.08 9,064 -17.34 0.0019
2020-02-13 2019-12-31 13F UPWORK COM 91688F104 849,553 25,375 9,064 1,155.1273
2019-11-12 2019-09-30 13F UPWORK COM 91688F104 824,178 20,563 2.56 10,965 -15.14 0.0026
2019-08-14 2019-06-30 13F UPWORK COM 91688F104 803,615 221,814 38.13 12,922 16.05 0.0031
2019-05-14 2019-03-31 13F UPWORK COM 91688F104 581,801 8,466 1.48 11,135 7.24 0.0029
2019-03-06 2018-12-31 13F/A-1 UPWORK COM 91688F104 573,335 573,335 10,383 0.0032
2019-02-13 2018-12-31 13F UPWORK COM 91688F104 573,335 10,383 0.0032
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.