Duolingo

DUOL • NASDAQ

Duolingo is a software - application company in the technology sector on NASDAQ, led by Luis von Ahn, with a market cap of $8.7B. As of Q3 2025, 85% of shares are held by 528 institutional investors, with BlackRock, Inc. as the largest holder at 9.13%.

CEOLuis von Ahn

Market Cap$8.7B

Software - Application

Technology

Employees720.0

Websiteduolingo.com

Country

United States of America

Overview

Overview of institutional ownership in DUOL as of Q3 2025 with a market cap of $14.7B

All Institutions

Institutions: 528
Value Held: $12.6B
Shares Held: 39.0M
Avg Position: $23.8M
Median Position: $1.0M

Hedge Funds

Hedge Funds: 63
Value Held: $2.5B
Shares Held: 7.7M
Avg Position: $39.4M
Median Position: $6.5M

Ownership Breakdown

Institutional (non-HF)

68.29%

$10.1B

Hedge Funds

16.82%

$2.5B

Retail & Other

14.89%

$2.2B

Based on market cap of $14.7B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in DUOL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$1.3B 0.02% of portfolio	9.13% 4.2M shares	Q3 2021 Held for 4y 2m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$1.2B 0.02% of portfolio	7.96% 3.6M shares	Q3 2021 Held for 4y 2m	$6.69T
FMR LLC Institution	-	$1.0B 0.05% of portfolio	6.94% 3.2M shares	Q3 2021 Held for 4y 2m	$1.92T
B BAILLIE GIFFORD & CO Institution	-	$910.1M 0.68% of portfolio	6.17% 2.8M shares	Q3 2021 Held for 4y 2m	$134.80B
C Capital World Investors Institution	-	$717.8M 0.10% of portfolio	4.87% 2.2M shares	Q1 2025 Held for 8 months	$730.00B
Dragoneer Investment Group, LLC Hedge Fund•Long/Short	Marc (Nmn) Stad President	$508.8M 11.23% of portfolio	3.45% 1.6M shares	Q2 2024 Held for 1y 5m	$4.5B
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$413.2M 0.26% of portfolio	2.80% 1.3M shares	Q3 2022 Held for 3y 2m	$161.58B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$371.4M 0.01% of portfolio	2.52% 1.2M shares	Q3 2021 Held for 4y 2m	$2.88T
Durable Capital Partners LP Hedge Fund•Long/Short	Henry Martin Ellenbogen CIO	$281.6M 2.09% of portfolio	1.91% 874.9K shares	Q3 2021 Held for 4y 2m	$13.5B
W Whale Rock Capital Management LLC Hedge Fund•Long/Short	Alexander Corrado Sacerdote CEO	$279.4M 3.29% of portfolio	1.89% 868.2K shares	Q1 2023 Held for 2y 8m	$8.5B

Net Capital Flow

Institutional buying and selling activity for DUOL in Q3 2025

Net Flow: −$218.6M
Buyers: 225
Sellers: 299
Total Bought: +$1.9B
Total Sold: −$2.2B
Avg Position: $21.3M

Biggest Buyers

Institution	Net Bought	Current Position
Dragoneer Investment Group, LLC Hedge Fund•Long/Short	+$388.9M +1.2M shares	$508.8M 1.6M shares
B BAILLIE GIFFORD & CO Institution	+$202.4M +628.9K shares	$910.1M 2.8M shares
T T. Rowe Price Investment Management, Inc. Insurance Manager	+$147.7M +458.8K shares	$413.2M 1.3M shares
FMR LLC Institution	+$134.2M +417.1K shares	$1.0B 3.2M shares
W Whale Rock Capital Management LLC Hedge Fund•Long/Short	+$122.1M +379.4K shares	$279.4M 868.2K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$104.8M +325.6K shares	$238.4M 740.9K shares
Spyglass Capital Management LLC Long Only Manager	+$60.1M +186.8K shares	$86.5M 268.7K shares
UBS Group AG Institution	+$59.5M +185.0K shares	$114.3M 355.3K shares
BAMCO INC /NY/ Long Only Manager	+$54.4M +169.0K shares	$78.4M 243.7K shares
Artisan Partners Limited Partnership Long Only Manager	+$41.8M +129.9K shares	$82.5M 256.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	−$260.8M −810.4K shares	$169.8M 527.5K shares
Q Qube Research & Technologies Ltd Institution	−$155.9M −484.4K shares	$3.8M 11.8K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	−$136.2M −423.3K shares	$104.4M 324.3K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$103.3M −321.0K shares	$81.0M 251.8K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$94.1M −292.3K shares	$174.3M 541.5K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$76.5M −237.6K shares	$12.4M 38.5K shares
A AMERICAN CENTURY COMPANIES INC Institution	−$65.8M −204.4K shares	$33.9M 105.3K shares
Durable Capital Partners LP Hedge Fund•Long/Short	−$63.9M −198.4K shares	$281.6M 874.9K shares
A AGF MANAGEMENT LTD Institution	−$62.3M −151.8K shares	Sold Off 0 shares
FEDERATED INVESTORS INC /PA/ Long Only Manager	−$56.2M −174.6K shares	$53.4M 165.8K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited DUOL in Q3 2025

New Positions: 65
New Value: $237.9M
Exited Positions: 121
Exited Value: $528.0M

New Positions

Institution	Position Value
C Capital International Investors Institution	$98.5M 305.9K shares
Nishkama Capital, LLC Hedge Fund•Sector	$31.5M 97.8K shares
SANDS CAPITAL MANAGEMENT, LLC Long Only Manager	$15.3M 47.7K shares
Susquehanna Portfolio Strategies, LLC Private Equity	$14.8M 45.9K shares
T TB Alternative Assets Ltd. Hedge Fund•Value	$11.6M 36.0K shares
B Broad Peak Investment Advisers Pte Ltd Institution	$10.0M 31.0K shares
H Hidden Lake Asset Management LP Hedge Fund•Long/Short	$9.5M 29.5K shares
LOOMIS SAYLES & CO L P Long Only Manager	$8.0M 24.8K shares
IMC-Chicago, LLC RIA/Wealth	$4.8M 15.0K shares
MITCHELL CAPITAL MANAGEMENT CO RIA/Wealth	$4.6M 14.3K shares

Exited Positions

Institution	Previous Position
A AGF MANAGEMENT LTD Institution	$62.3M 151.8K shares
N Neuberger Berman Group LLC Institution	$47.4M 115.5K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	$36.9M 90.1K shares
COOKSON PEIRCE & CO INC RIA/Wealth	$35.6M 86.8K shares
Symphony Financial, Ltd. Co. RIA/Wealth	$31.9M 77.9K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	$28.7M 70.0K shares
T TWINBEECH CAPITAL LP Hedge Fund•Quant	$27.8M 67.7K shares
H HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Institution	$26.0M 63.3K shares
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	$19.4M 47.2K shares
S STEADFAST CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	$17.1M 41.8K shares

Options Activity

Institutions with the largest Call and Put options positions in DUOL as of Q3 2025

Call Positions: 28
Call Value: $917.2M
Put Positions: 27
Put Value: $1.1B

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$294.6M 9.2K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$168.1M 5.2K contracts
J JANE STREET GROUP, LLC Institution	$114.9M 3.6K contracts
M MAPLELANE CAPITAL, LLC Hedge Fund•Long/Short	$53.9M 1.7K contracts
W WOLVERINE TRADING, LLC Institution	$47.0M 1.4K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$42.2M 1.3K contracts
WELLS FARGO & COMPANY/MN Institution	$36.2M 1.1K contracts
Proem Advisors LLC Hedge Fund•Long/Short	$32.2M 1.0K contracts
D D. E. Shaw & Co., Inc. Institution	$32.2M 1.0K contracts
Nishkama Capital, LLC Hedge Fund•Sector	$22.2M 690.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$312.3M 9.7K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$259.0M 8.0K contracts
J JANE STREET GROUP, LLC Institution	$108.8M 3.4K contracts
Sessa Capital IM, L.P. Hedge Fund•Long/Short	$99.8M 3.1K contracts
W WOLVERINE TRADING, LLC Institution	$56.8M 1.7K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$46.8M 1.5K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$34.1M 1.1K contracts
P PEAK6 LLC Institution	$25.2M 783.0 contracts
D D. E. Shaw & Co., Inc. Institution	$23.9M 742.0 contracts
WELLS FARGO & COMPANY/MN Institution	$23.5M 730.0 contracts

Most Committed Institutions

Institutions with DUOL as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
C CARNEGIE MELLON UNIVERSITY Institution	-	72.12% $94.9M	0.64% 294.8K shares	Q4 2021 Held for 3y 11m	$131.6M
Dragoneer Investment Group, LLC Hedge Fund•Long/Short	Marc (Nmn) Stad President	11.23% $508.8M	3.45% 1.6M shares	Q2 2024 Held for 1y 5m	$4.5B
SQUARE PEG CAPITAL PTY LTD Private Equity	-	10.35% $11.5M	0.08% 35.6K shares	Q4 2024 Held for 11 months	$110.6M
A Arthedge Capital Management, LLC Hedge Fund•Value	Samir Gupta CCO	9.62% $14.3M	0.10% 44.3K shares	Q3 2023 Held for 2y 2m	$148.2M
Spyglass Capital Management LLC Long Only Manager	James Andrew Robillard President	4.61% $86.5M	0.59% 268.7K shares	Q3 2024 Held for 1y 2m	$1.9B
Foxhaven Asset Management, LP Hedge Fund•Long/Short	Michael (Nmn) Gennaro CFO	4.02% $160.9M	1.09% 499.9K shares	Q3 2021 Held for 4y 2m	$4.0B
H Hidden Lake Asset Management LP Hedge Fund•Long/Short	Kevin Ka Wah Mok Founder	3.97% $9.5M	0.06% 29.5K shares	Q3 2025 Held for 2 months	$239.0M
Steadview Capital Management LLC Hedge Fund•Long/Short	Ravi A Mehta Managing Partner	3.79% $26.4M	0.18% 82.2K shares	Q4 2024 Held for 11 months	$697.7M
W Whale Rock Capital Management LLC Hedge Fund•Long/Short	Alexander Corrado Sacerdote CEO	3.29% $279.4M	1.89% 868.2K shares	Q1 2023 Held for 2y 8m	$8.5B
Nishkama Capital, LLC Hedge Fund•Sector	Ravee Mehta CIO	2.82% $31.5M	0.21% 97.8K shares	Q3 2025 Held for 2 months	$1.1B

Hedge Fund Spotlight

Discover hedge funds investing in DUOL

Schonfeld Strategic Advisors LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerRyan Andrew Tolkin

Portfolio Value: $14.3B
Positions: 1,880
Last Reported: Q3 2025

Sector Allocation

Position in Duolingo

Market Value: $21.9M
Shares Held: 68.2K
Portfolio Weight: 0.15%
Owned Since: 2025-Q1

Top Holding	Sector	Market Value	Weight
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$1.3B	9.09%
2 iShares Bitcoin Trust IBIT	ETF ETF	$440.9M	3.08%
3 ETHA iShares Ethereum Trust ETHA	Unknown Unknown	$337.6M	2.36%

View full profile

Duolingo

Overview

All Institutions

Hedge Funds

Ownership Breakdown

Biggest Investors

Net Capital Flow

Biggest Buyers

Biggest Sellers

Entry and Exit Activity

New Positions

Exited Positions

Options Activity

Call Positions

Put Positions

Most Committed Institutions

Hedge Fund Spotlight

Position in Duolingo

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