Vanguard Capital Management Acquires 5.06% Stake in Upwork Inc

On April 30, 2026, Vanguard Capital Management LLC filed a Schedule 13G with the SEC, disclosing a new 5.06% stake in Upwork Inc (UPWK). As of the event date on March 31, 2026, the investment adviser reported beneficial ownership of 6,597,364 shares of common stock. According to the filing, Vanguard Capital Management holds sole dispositive power over all 6,597,364 shares, while exercising sole voting power over 984,666 shares. No shared voting or dispositive power was reported. The filing indicates that the shares were acquired in the ordinary course of business and not for the purpose of influencing or changing the control of the issuer. This position reflects the aggregate holdings of Vanguard Capital Management LLC and several affiliates, including Vanguard Asset Management Limited and Vanguard Global Advisers, LLC. The reporting person previously held no shares, marking this as a significant new institutional position in the freelance marketplace platform.