[SCHEDULE 13G] Upbound Group, Inc. SEC Filing

Rhea-AI Filing Summary

IEQ Capital, LLC disclosed ownership of 4,540,625 shares of Upbound Group, Inc. common stock, representing approximately 7.9% of the outstanding shares as of June 30, 2025. The filing states IEQ Capital serves as investment adviser for client accounts holding these shares and reports sole dispositive power over all 4,540,625 shares while retaining sole voting power for 2,765 shares and no shared voting or dispositive power. The percentage is calculated using 57,825,534 shares outstanding reported by the issuer on April 24, 2025.

Positive

• Material ownership disclosed: IEQ Capital reports 4,540,625 shares, equal to approximately 7.9% of outstanding common stock.
• Sole dispositive power: IEQ Capital states sole dispositive authority over all 4,540,625 shares, indicating control over trading decisions for those positions.
• Filing clarity: Percentage basis is explicitly tied to the issuer's reported 57,825,534 shares outstanding as of April 24, 2025.

Negative

• Minimal voting power: IEQ Capital reports sole voting power for only 2,765 shares, implying limited direct influence on corporate votes.
• Held for clients: Shares are held for advisory clients, so economic exposure may be dispersed among clients rather than concentrated, limiting direct stewardship visibility.

Insights

Securities Analyst

TL;DR: IEQ Capital reports a material 7.9% economic stake but minimal voting control.

IEQ Capital's Schedule 13G shows it may be deemed beneficial owner of 4,540,625 shares (7.9%), with full dispositive authority yet only 2,765 shares carrying sole voting power. For investors and market participants, this indicates substantial economic exposure through advisory accounts while direct voting influence is negligible. The filing identifies IEQ as a Delaware investment adviser and cites the issuer's April 24, 2025 share count as the basis for the percentage.

Corporate Governance Expert

TL;DR: Significant holdings held in advisory capacity, suggesting passive investment rather than a control intent.

The Schedule 13G classification and certification language indicate the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. The split between dispositive power and voting power—large dispositive authority with negligible voting rights—highlights that IEQ's clients can trade the economic exposure while not directing corporate votes, consistent with a passive investment position disclosed under Rule 13d-1(b)/(c).

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

UPBOUND GROUP, INC.

(Name of Issuer)

Common Stock, $0.01 par value per share

(Title of Class of Securities)

76009N100

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 76009N100

1

Names of Reporting Persons

IEQ CAPITAL, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,765.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 4,540,625.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,540,625.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: UPBOUND GROUP, INC.
(b)	Address of issuer's principal executive offices: 5501 Headquarters Drive, Plano, Texas, 75024
Item 2.
(a)	Name of person filing: This Statement is filed on behalf of IEQ CAPITAL, LLC ("IEQ Capital"). This Statement relates to shares of Common Stock held for the accounts of IEQ Capital's clients, for which IEQ Capital serves as investment adviser and may be deemed to beneficially own the shares of Common Stock reported herein.
(b)	Address or principal business office or, if none, residence: The principal business office of IEQ Capital is 950 TOWER LANE, SUITE 1800, FOSTER CITY, CA 94404.
(c)	Citizenship: IEQ Capital is a Delaware limited liability company.
(d)	Title of class of securities: Common Stock, $0.01 par value per share
(e)	CUSIP No.: 76009N100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: As of June 30, 2025, IEQ Capital may be deemed the beneficial owner of 4,540,625 shares of Common Stock.
(b)	Percent of class: As of June 30, 2025, IEQ Capital may be deemed the beneficial owner of approximately 7.9% of the shares of Common Stock outstanding. This percentage is based on 57,825,534 shares of Common Stock outstanding as of April 24, 2025, as reported in the Issuer's quarterly report on Form 10-Q filed on May 2, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2,765
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 4,540,625
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See disclosure in Item 2 hereof. IEQ Capital's clients are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock covered by this Statement that may be deemed to be beneficially owned by IEQ Capital.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See disclosure in Item 2 hereof.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

IEQ CAPITAL, LLC

Signature:	/s/ Lior Keshet
Name/Title:	Lior Keshet, GC & COO
Date:	08/14/2025

FAQ

What percentage of UPBD does IEQ Capital report owning?

IEQ Capital reports beneficial ownership of 4,540,625 shares, representing approximately 7.9% of Upbound Group, Inc.'s common stock.

How many UPBD shares does IEQ Capital have voting control over?

The filing states IEQ Capital has sole voting power over 2,765 shares and 0 shared voting power.

Does IEQ Capital control the disposition of the UPBD shares?

Yes. The statement reports IEQ Capital has sole dispositive power over all 4,540,625 shares and 0 shared dispositive power.

On what share count is the 7.9% calculated?

The percentage is based on 57,825,534 shares outstanding reported by the issuer as of April 24, 2025.

Under what capacity does IEQ Capital hold the shares?

IEQ Capital holds the shares for client accounts in its role as an investment adviser, as stated in Item 2 of the filing.