Duolingo

DUOL • NASDAQ

Duolingo is a software - application company in the technology sector on NASDAQ, led by Luis Alfonso von Ahn Arellano, with a market cap of $7.1B. As of Q3 2025, 85% of shares are held by 530 institutional investors, with BlackRock, Inc. as the largest holder at 9.13%.

CEOLuis Alfonso von Ahn Arellano

Market Cap$7.1B

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: 530
Value Held: $12.6B
Shares Held: 39.0M
Avg Position: $23.7M
Median Position: $1.0M

Hedge Funds

Hedge Funds: 64
Value Held: $2.5B
Shares Held: 7.7M
Avg Position: $38.8M
Median Position: $6.3M

Ownership Breakdown

Institutional (non-HF)

68.29%

$10.1B

Hedge Funds

16.83%

$2.5B

Retail & Other

14.88%

$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)
BlackRock, Inc. Institution	Laurence D. Fink CEO	$1.3B 0.02% of portfolio	9.13% 4.2M shares	Q3 2021 Held for 4y 3m	$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 3m	$6.69T
FMR LLC Institution	-	$1.0B 0.05% of portfolio	6.94% 3.2M shares	Q3 2021 Held for 4y 3m	$1.92T
B BAILLIE GIFFORD & CO Institution	-	$910.1M 0.68% of portfolio	6.17% 2.8M shares	Q3 2021 Held for 4y 3m	$134.80B
C Capital World Investors Institution	-	$717.8M 0.10% of portfolio	4.87% 2.2M shares	Q1 2025 Held for 9 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 6m	$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 3m	$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 3m	$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 3m	$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 9m	$8.5B

Net Capital Flow

Institutional buying and selling activity for DUOL in Q3 2025

Traded: +$428.4M
Buyers: 312
Sellers: 293
Total Bought: +$2.4B
Total Sold: −$1.9B
Avg Position: $19.2M

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
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$133.6M +415.3K shares	$133.6M 415.3K 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
C Capital International Investors Institution	+$98.5M +305.9K shares	$98.5M 305.9K 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

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
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
FRANKLIN RESOURCES INC Institution	−$54.5M −169.2K shares	$15.7M 48.8K 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: 122
Exited Value: $528.2M

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: 28
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 4 years	$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 6m	$4.5B
SQUARE PEG CAPITAL PTY LTD Private Equity	-	10.35% $11.5M	0.08% 35.6K shares	Q4 2024 Held for 1 year	$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 3m	$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 3m	$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 3m	$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 3 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 1 year	$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 9m	$8.5B
Nishkama Capital, LLC Hedge Fund•Sector	Ravee Mehta CIO	2.82% $31.5M	0.21% 97.8K shares	Q3 2025 Held for 3 months	$1.1B

Hedge Fund Spotlight

Discover hedge funds investing in DUOL

Quantessence Capital LLC

Hedge Fund • Quant

Portfolio ManagerAmit Manwani

Portfolio Value: $316.3M
Positions: 174
Last Reported: Q3 2025

Sector Allocation

Position in Duolingo

Market Value: $252.0K
Shares Held: 783.0
Portfolio Weight: 0.08%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 WNS Holdings Limited WNS	Information Technology Services Technology	$25.0M	7.89%
2 VRNA Verona Pharma VRNA	Unknown Unknown	$11.8M	3.72%
3 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$9.1M	2.87%

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

Cookie Preferences