Ancient Art, L.P.: UPWORK INC (UPWK): Quarterly 13F Position History
As of Q1 2026, Ancient Art, L.P. reported 5,959,909 shares of UPWORK INC (UPWK), worth $65.3M and representing 14.2% of its 13F equity book. Quarter-over-quarter share count change: + 1,319,095 (+28.4%) . The position first appeared in Q1 2019 and has been disclosed across 29 13F-HR filings in Pactolio's tracked window.
- 5,959,909Shares Held (Latest Filing)
- $65.3MReported Market Value (Latest Filing)
- 14.2%Portfolio Weight (% of 13F Equity Book)
- +1,319,095Quarter-over-Quarter Share Change
- -$26.7MQuarter-over-Quarter Value Change
- 7,339,684Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 29 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 5,959,909 | +1,319,095 | +28.4% | $65.3M | 14.2% | $11.0 |
| Q4 2025 | 4,640,814 | +372,147 | +8.7% | $92.0M | 20.8% | $19.8 |
| Q3 2025 | 4,268,667 | +494,759 | +13.1% | $79.3M | 19.1% | $18.6 |
| Q2 2025 | 3,773,908 | 8,227 | -0.2% | $50.7M | 16.4% | $13.4 |
| Q1 2025 | 3,782,135 | 1,138,872 | -23.1% | $49.4M | 14.6% | $13.1 |
| Q4 2024 | 4,921,007 | 2,418,677 | -33.0% | $80.5M | 17.1% | $16.4 |
| Q3 2024 | 7,339,684 | 0 | — | $76.7M | 17.8% | $10.4 |
| Q2 2024 | 7,339,684 | +2,115,248 | +40.5% | $78.9M | 20.2% | $10.8 |
| Q1 2024 | 5,224,436 | 365,200 | -6.5% | $64.1M | 12.9% | $12.3 |
| Q4 2023 | 5,589,636 | 268,279 | -4.6% | $83.1M | 13.9% | $14.9 |
| Q3 2023 | 5,857,915 | 0 | — | $66.5M | 14.3% | $11.4 |
| Q2 2023 | 5,857,915 | +2,780,414 | +90.3% | $54.7M | 11.6% | $9.3 |
| Q1 2023 | 3,077,501 | +589,872 | +23.7% | $34.8M | 7.6% | $11.3 |
| Q4 2022 | 2,487,629 | +164,399 | +7.1% | $26.0M | 5.5% | $10.4 |
| Q3 2022 | 2,323,230 | +158,049 | +7.3% | $31.6M | 5.9% | $13.6 |
| Q2 2022 | 2,165,181 | +35,000 | +1.6% | $44.8M | 6.9% | $20.7 |
| Q1 2022 | 2,130,181 | +1,142,797 | +115.7% | $49.5M | 6.4% | $23.2 |
| Q4 2021 | 987,384 | +120,998 | +14.0% | $33.7M | 3.8% | $34.2 |
| Q3 2021 | 866,386 | 296,934 | -25.5% | $39.0M | 4.1% | $45.0 |
| Q2 2021 | 1,163,320 | 988,325 | -45.9% | $67.8M | 6.3% | $58.3 |
| Q1 2021 | 2,151,645 | 1,189,703 | -35.6% | $96.3M | 9.3% | $44.8 |
| Q4 2020 | 3,341,348 | 1,827,785 | -35.4% | $115.3M | 11.3% | $34.5 |
| Q3 2020 | 5,169,133 | +782,343 | +17.8% | $90.2M | 12.4% | $17.4 |
| Q2 2020 | 4,386,790 | 1,187,869 | -21.3% | $63.3M | 11.6% | $14.4 |
| Q1 2020 | 5,574,659 | +2,009,644 | +56.4% | $36.0M | 5.8% | $6.5 |
| Q4 2019 | 3,565,015 | +835,489 | +30.6% | $38.0M | 5.7% | $10.7 |
| Q3 2019 | 2,729,526 | +794,603 | +41.1% | $36.3M | 6.0% | $13.3 |
| Q2 2019 | 1,934,923 | +1,687,899 | +683.3% | $31.1M | 4.9% | $16.1 |
| Q1 2019 | 247,024 | — | — | $4.7M | 0.9% | $19.1 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did Ancient Art, L.P. first disclose a UPWK position in 13F-HR filings?
Ancient Art, L.P. first reported UPWORK INC (UPWK) on its 13F-HR filing for the period ending 2019-03-31 (Q1 2019). The position has appeared on 29 reported quarters within Pactolio's tracked window.
What was Ancient Art, L.P.'s most recent quarter-over-quarter share-count change in UPWK?
Between Q4 2025 and Q1 2026, Ancient Art, L.P. added 1,319,095 shares of UPWK (+28.4%), bringing the total reported position to 5,959,909 shares at a market value of $65.3M.
Does the implied price-per-share represent Ancient Art, L.P.'s cost basis in UPWK?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.